Compulsive Trading Disorder
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Here is another interesting article:
Lehman Trader Recalls Suicide, âPornographicâ Portfolio: Books
http://www.bloomberg.com/news/2011-...lls-suicide-pornographic-portfolio-books.html
The cause of Dillianâs distress wasnât Lehmanâs collapse; that drama unfolded some six years later. His despair reflected something much more common and corrosive about markets. His job, index arbitraging, had been automated by a computer program.
âThe diabolical index arb robots had taken over my trade,â he writes in the mocking voice familiar to readers of his financial newsletter, the Daily Dirtnap.
Not long after his over-the-counter overdose, Dillian opted for proprietary trading, placing bets on futures contracts. Soon he was back in the game, buying, selling, cursing and -- on one rough afternoon -- smashing his desk phone to smithereens. The trading floor roared in approval, granting him âa long, lusty standing ovation,â he says.
The market possesses âa malignant omniscience,â he says. âYou are a sinner in the hands of an angry God, and your positions are going to pay.â
In this environment, common norms of behavior fall away. On Wall Street, you can call a guy a jerk, or worse, without provoking him, Dillian says, because jerks often make bags of money. The real insult is to call someone a bad trader.
âIt implies that there is something fundamentally wrong with that person,â he says. âHeâs unfit. Heâs weak. And worst of all, heâs a mook. A loser.â
Judging from this blunt and sometimes hilarious account, Dillian was a good trader. He also was so unhinged that you wonder why Lehman allowed him past the front desk, let alone trusted him to execute billions of dollars of trades.
Evidence, psychopaths trader. Also, this is evidence HFT is taking over traditional traders.
Lehman Trader Recalls Suicide, âPornographicâ Portfolio: Books
http://www.bloomberg.com/news/2011-...lls-suicide-pornographic-portfolio-books.html
The cause of Dillianâs distress wasnât Lehmanâs collapse; that drama unfolded some six years later. His despair reflected something much more common and corrosive about markets. His job, index arbitraging, had been automated by a computer program.
âThe diabolical index arb robots had taken over my trade,â he writes in the mocking voice familiar to readers of his financial newsletter, the Daily Dirtnap.
Not long after his over-the-counter overdose, Dillian opted for proprietary trading, placing bets on futures contracts. Soon he was back in the game, buying, selling, cursing and -- on one rough afternoon -- smashing his desk phone to smithereens. The trading floor roared in approval, granting him âa long, lusty standing ovation,â he says.
The market possesses âa malignant omniscience,â he says. âYou are a sinner in the hands of an angry God, and your positions are going to pay.â
In this environment, common norms of behavior fall away. On Wall Street, you can call a guy a jerk, or worse, without provoking him, Dillian says, because jerks often make bags of money. The real insult is to call someone a bad trader.
âIt implies that there is something fundamentally wrong with that person,â he says. âHeâs unfit. Heâs weak. And worst of all, heâs a mook. A loser.â
Judging from this blunt and sometimes hilarious account, Dillian was a good trader. He also was so unhinged that you wonder why Lehman allowed him past the front desk, let alone trusted him to execute billions of dollars of trades.
Evidence, psychopaths trader. Also, this is evidence HFT is taking over traditional traders.
For those who have had a terrible week of humiliating losses. Who have felt that they have lost money, energy and time in a futile pursuit. Who wished that they had spent their energies on more worthwhile and rational things. Things that gave them a sense of achievement and pride, instead of pain and frustration, please read the last few pages of this thread and try and acknowledge the fact that you are going to continue to feel the same way if you don't stop 'Trading'. It is designed to take your money from you. It is a lie. Enriching only those in the industry who profit from the Myth. This is my opinion but there has been absolutely NO evidence to dismiss it.
how did I do the TLT option trade today?
tlt bounced to 50days EMA, that is my favorite setup. I bought lots of 114 put around 0.13 under, also 235 lots of 113 put at 0.02.
I saw TLT looks it will shoot to 115, that almost let me think I am wrong. oh, shit, close out my take? no way, those locals are controlling the market, most people will use a stop loss to do that.
I shorted NG in the morning pre-market at 1.45, but it just kept showing me "the market is pretty strong and still at 1.16~1.15". those locals are setting you up. I covered it at 1.103 (my limit order) in the 2:30 closing. shorted it again at 1.133 in the bounce (a small position), will cover it next week at 2.0 under. ignore those locals's manipulation: give you impression, you are in a wrong position. do not let them fool you, also don't let brokage fool you too (do lot will make lot, that is wrong: do less and quailty trade will make far more, and put you in a winning position)
but who knows when those guys will break down? I close my eyes, keep not thinking about "if wrong, I get to lose shit lot".
went out of the office and bought Mega lottery (bought 3tickets), hope this evening 11:00PM have something.
2:00pm, I turn on my computer, I get to smile, those insiders starts to dump hard, ... sold my 114 at 1.65~1.55 ( not bad), sold my 113 at 0.6~0.7, what a day!
three lottery tickets, get to watch
in order to be a disciplined trader, you need forget about loss, foucs on winning.
tlt bounced to 50days EMA, that is my favorite setup. I bought lots of 114 put around 0.13 under, also 235 lots of 113 put at 0.02.
I saw TLT looks it will shoot to 115, that almost let me think I am wrong. oh, shit, close out my take? no way, those locals are controlling the market, most people will use a stop loss to do that.
I shorted NG in the morning pre-market at 1.45, but it just kept showing me "the market is pretty strong and still at 1.16~1.15". those locals are setting you up. I covered it at 1.103 (my limit order) in the 2:30 closing. shorted it again at 1.133 in the bounce (a small position), will cover it next week at 2.0 under. ignore those locals's manipulation: give you impression, you are in a wrong position. do not let them fool you, also don't let brokage fool you too (do lot will make lot, that is wrong: do less and quailty trade will make far more, and put you in a winning position)
but who knows when those guys will break down? I close my eyes, keep not thinking about "if wrong, I get to lose shit lot".
went out of the office and bought Mega lottery (bought 3tickets), hope this evening 11:00PM have something.
2:00pm, I turn on my computer, I get to smile, those insiders starts to dump hard, ... sold my 114 at 1.65~1.55 ( not bad), sold my 113 at 0.6~0.7, what a day!
three lottery tickets, get to watch
in order to be a disciplined trader, you need forget about loss, foucs on winning.
Here is what is funny, there is an ongoing ES thread that shows profits and losses every day, and this has been going on for years. There is also an Equities journal that shows profitable trading, what exactly are you looking for?
What you are looking for is someone to hand over their strategy, but the traders here that are making money are simply grinning at you.
You see selective evidence based on the trader's occasional win. It's natural to want to show your 'success'. Likewise, we remain silent about our losses. So yes, there is evidence of occasional wins around but not the long-term, dependable financial reward that is taken from a legitimate business or job
absence of evidence is not evidence of absence. You are trying to project your personal failures onto the group to validate that it is not a personal flaw that caused you to fail.
I regret that I have to deprive you of that perception. Fix what is wrong within you, and come back when you are ready.