Out of what size account if you don't mind me asking?
Anyone had near blowup experience?
- Thread starter turkeyneck
- Start date
Out of what size account if you don't mind me asking?
old video, but still ....
http://highprobability.blogspot.com/2008/01/stock-market-ruined-my-life.html
http://highprobability.blogspot.com/2008/01/stock-market-ruined-my-life.html
I'll tell you my of my tuituin the market taught me.
If you go long or short combine fundamentals with your trading. I don't mean company balance sheets and pe ratios, forget that crap. Just watch the market move and go with it.
People knew last week to buy gold because they saw banks falling apart.
oil was dropping so you know airlines are going to push higher except you can't buy when the market is tanking, so you wait till the smoke clears and go long.
I made small money from day trading but bigger money from swing trading. doesn't work for everyone.
My main point is if the you really think your right on a trade hold it for about 2 weeks and the market should give it back to you. , But if you see the situation deteriorating day by day get the hell out fast.
example: you bought aig last week bec. you thought from 20 dollar stock you can now catch a bottom around 7 bucks.
mistake: when investment banking is going down the drain never go long. That catching knife does hurt. That does not mean you can't go long on commercial banks ( I did I bought citi about 14 and change and sold @16 and change)
next example: I shorted amr 2 weeks ago (thinking oil would go uo) and it went against me so fast but I didn't want to take the loss, so I held for a few days all of a sudden a rumor comes out that ual is going bankrupt and they all started tanking, naturally I wanted to ride amr all the way down, but by the time I realized it was going back up I got out with 1 grand profit instead of about 6 grand.
next example: I knew short selling would be banned for a while and it was a perfect time to go long banks, how did I know? simple we had it back in july. come on we all know short sellers are greedier fucks (me included) than long holders. If the fed didn't do something shit I would have felt bad for all the people losing there jobs bec. people like me were shorting.
I am going to post a great way for a newbie to make money in the newbie section
this is all newbie shit talking so nobody take offense.
If you go long or short combine fundamentals with your trading. I don't mean company balance sheets and pe ratios, forget that crap. Just watch the market move and go with it.
People knew last week to buy gold because they saw banks falling apart.
oil was dropping so you know airlines are going to push higher except you can't buy when the market is tanking, so you wait till the smoke clears and go long.
I made small money from day trading but bigger money from swing trading. doesn't work for everyone.
My main point is if the you really think your right on a trade hold it for about 2 weeks and the market should give it back to you. , But if you see the situation deteriorating day by day get the hell out fast.
example: you bought aig last week bec. you thought from 20 dollar stock you can now catch a bottom around 7 bucks.
mistake: when investment banking is going down the drain never go long. That catching knife does hurt. That does not mean you can't go long on commercial banks ( I did I bought citi about 14 and change and sold @16 and change)
next example: I shorted amr 2 weeks ago (thinking oil would go uo) and it went against me so fast but I didn't want to take the loss, so I held for a few days all of a sudden a rumor comes out that ual is going bankrupt and they all started tanking, naturally I wanted to ride amr all the way down, but by the time I realized it was going back up I got out with 1 grand profit instead of about 6 grand.
next example: I knew short selling would be banned for a while and it was a perfect time to go long banks, how did I know? simple we had it back in july. come on we all know short sellers are greedier fucks (me included) than long holders. If the fed didn't do something shit I would have felt bad for all the people losing there jobs bec. people like me were shorting.
I am going to post a great way for a newbie to make money in the newbie section
this is all newbie shit talking so nobody take offense.
No such thing as "almost sure thing" in trading. Great traders use superior money management, and try to exploit inefficiencies to make more money than they lose. No single trade is "almost sure."
Firstly, he must give you full authority (empowerment) and secondly his idea of holding a losing position isn't correct because the odds are not in favor most of the time, but it depends how long he would like to hold on that losing position and also depending on the volatility of the stock.
In other words, you must have your own system and the element of that system doesn't include him, I guess
. But just for trading system, right.
In other words, you must have your own system and the element of that system doesn't include him, I guess
. But just for trading system, right.Quote from LuckyGirl:
If you mean me, you're right.
I think AIG, GS and 729 other financial companies had big blow ups. Just call the feds for a bail out the next time you face a margin call.
I'm sure they can call your broker and guarantee your account. At least they can help fabricate a nice rally so you can get out with a profit... Pay some taxes... grease the machine... Life goes on.
We have just witnessed federal crimes, market manipulation, fraud, conspiracy and flat out robbery in front of our eyes perpetrated by the judge and jury... A blatant kick back!
AIG shareholders are now balking and want a new deal. Government is now a fiduciary of AIG.. wrote them a loan and can only act for the sole benefits of AIG shareholders. Insanity.
Merril shareholders are balking and want out or a new deal with BofA.
Margin calls are margin calls... Liquidations are part of life- tough luck you fucked up... Great deals would have been had by competitors who would have picked up assets and market share.
Stronger and more nimble players would have emerged making more opportunities.
Can you say unfair competition?
Not only have they delayed the inevitable for these companies... They bought time and manipulated a bounce so not only can these companies survive... They will profit and live on to play another day.
The Market works on pressure.. Without pressure there is no sense of urgency to push. Not only will we bail you out we will relieve all pressure too... We'll stop allowing shorts of your stock so your stock value can't be run down easily.
And on top of all of this we'll give you a get out of jail card...
I'm sure they can call your broker and guarantee your account. At least they can help fabricate a nice rally so you can get out with a profit... Pay some taxes... grease the machine... Life goes on.
We have just witnessed federal crimes, market manipulation, fraud, conspiracy and flat out robbery in front of our eyes perpetrated by the judge and jury... A blatant kick back!
AIG shareholders are now balking and want a new deal. Government is now a fiduciary of AIG.. wrote them a loan and can only act for the sole benefits of AIG shareholders. Insanity.
Merril shareholders are balking and want out or a new deal with BofA.
Margin calls are margin calls... Liquidations are part of life- tough luck you fucked up... Great deals would have been had by competitors who would have picked up assets and market share.
Stronger and more nimble players would have emerged making more opportunities.
Can you say unfair competition?
Not only have they delayed the inevitable for these companies... They bought time and manipulated a bounce so not only can these companies survive... They will profit and live on to play another day.
The Market works on pressure.. Without pressure there is no sense of urgency to push. Not only will we bail you out we will relieve all pressure too... We'll stop allowing shorts of your stock so your stock value can't be run down easily.
And on top of all of this we'll give you a get out of jail card...
yes there is sure trades. if you do not look around hard, how do you know?
we all know "fast money will not stay", look at today's finacial stocks, you know in the opening, they are all in the sky, some is up 100%+, if i bought it last night, sure it is time for me to cash out my profit: that means:SELL
I bought SKF at 91, I did the right thing, since that is the sure profit!
only naives are playing statistic casinos, they finally end up losing everything
we all know "fast money will not stay", look at today's finacial stocks, you know in the opening, they are all in the sky, some is up 100%+, if i bought it last night, sure it is time for me to cash out my profit: that means:SELL
I bought SKF at 91, I did the right thing, since that is the sure profit!
only naives are playing statistic casinos, they finally end up losing everything
no, there are not "sure" trades. If there were, then you would be a multibillionnaire, wouldn't you? Cashing out is not a sure thing, it is just arbitrarily taking a profit. As much as not, if you got out at a number, it will go up much more. remember - buy strength???