Blow up

[ctrader]

Sometimes I wonder if it might be a good idea to hire someone to be your risk manager... reviewing all your trades and making noise if you go outside of your well defined risk profile.

 

[straddler]

ctrader,

sounds good. where do i sign up.

 

[swoop[TR]]

Well actually, I like that line of business.

I'll volunteer to be the risk manager on call for any ET member. Special Discount rate hehe

 

[straddler]

swoop,

Thanks for the offer. It seems that I fired my risk manager long ago. If I wasn't a stubborn sob, I would not be in this situation. The truth hurts, but I must move on.

 

[swoop[TR]]

as long as you recognize the mistake, 90% of the work is done. Now all you need to do is to fix it.

 

[straddler]

Swoop,

Correct. It seems that the easy part is having a plan. The difficult part is sticking to it. Self discipline is the key. Mind over matter.

 

[MVP]

The most important part of being in any business is to know when to quit.

good luck

 

[iceman1]

Quote from straddler:

Swoop,

Correct. It seems that the easy part is having a plan. The difficult part is sticking to it. Self discipline is the key. Mind over matter.

don't go back into trading until your are absolutely positive you won't be lulled in greed and 'conviction' trumping discipline as opposed to the other way around!

Also if you're inclined to double down a lot... get a flight to Vegas and stay out of the markets.

Good luck

Ice

 

[DHOHHI]

Quote from straddler:

If I wasn't a stubborn sob, I would not be in this situation. The truth hurts, but I must move on.

5 years ago I almost blew myself out by being stubborn. Luckily I had some longer term trades that offset my bigger losses and that bailed me out. That was a lesson that left a lasting impression on me since I sure as hell didn't want to go back and get a real job. I hope you can find an opportunity to trade again ... assuming you have truly learned from the recent experiences.

 

[straddler]

Lessons learned were expensivo.