If your thinking about quitting then I want you to read this post (sorry its so lengthy). It was originally a reply to a thread that is no longer here. there person in question wanted to quit due to too much market manipulation by the big boys. This person is now doing quite well and has given us permission to post this.
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I must have given myself another 2 weeks before I quit trading about 50 times in my career.
I thank the good spirits I did not.
Before the inevitable I want you to do a few things. Then you will be able to quit knowing at least you tried, REALLY TRIED everything.
Make sure you buy and read the book, Trading in the Zone by Mark Douglas.
And I want you to get the book by Anthony Robbins Unlimited Power. Both in a way deal with the same thing. That to be successful all you really have to do is think that you are becoming successful.
I do not want to talk you out of the idea that the Wall Street insiders are conspiring to take your money. As a matter of fact I want to help you explore that theory.
So let's take a normal day as an example. Let's say you did not take any of profitable calls. You only took the gap trade which never filled. You probably lost 20 points as did the people I know who took the trade. The weird thing is at least 3 of the people who took the gap trade with you, I would definitely describe as a Wall Street insider. He had 20 contracts and lost 21 points which was a 2100.00 loss. ( I wonder why he did not manipulate the market in order to make a gain).
But lets forget that little problem. Let's talk about the (bigger Wall Street Insiders). The guys with hundreds of millions in the market each. I assume you had 1 contract in the gap trade. And if you had more, what was the basis for your disregard of risk? So you lost about $110.00.
That was not fun.
Now, how many of the big boys do you think it takes to drive the stock market down 38 points without so much as a rally to the pivot line? Certainly not 1. My guess would be at least 20 acting in concert. Wouldn't you agree?
So, they had to figure out a way to know that you were going to play the gap. I guess they could have asked me. They could have put a little pressure on to have me make the call in the first place. Now for doing that I do not come cheap. My reputation is on the line. But everyone has his price. So I will not admit to this, because it would be a crime, but perhaps $10,000.00 cash would get me to call a trade, assuming that you would follow it. Let's face it, we are dealing with the big boys. They can easily come up with $10,000.00 which would only be $500 bucks for each of the 20 insiders.
Since they are located all over the country, I don't think they all flew to New York for a breakfast meeting to discuss this manipulation. A quick conference call would be all that was needed. Since you never know who is monitoring calls these days, the lead conspirator could have said something like, "The tick isn't Pure anymore." That would be the key.
They would wait for probably 5 minutes after the opening, or maybe it is a member in the room. I know it's not Tickman anymore. As soon as I hit the buy buzzer, these guys start selling.
My guess is that they would have to insure that the market stays down all day, so they would not only have to make an immediate series of trades but would have to keep shorting any rallies that emerge during the day in order to keep that market down, below where you got in.
My assumption is that on a lower volume day like today, with oil rising, it would probably only take about 20 billion dollars to keep the market down all day. But these guys have the bucks, and let's face it, with the incentive to take your money they would spend all they had and get their other contacts to help in case there was unexpected buying.
Well we do know the result. Their shorting kept the market down. Of course, inadvertently, they helped Max Span go down and take some profits (There were at least 3 newbies in the room who did go short, but I guess the big boys couldn't get every newbies money or you would then have made a profit and spoiled their plans.
And as usual, their plans succeeded. They got your $120.00. The only thing wrong with the plan is that each of those Wall Street insiders would have wanted his cut---these guys don't play for nothing. So instead of walking away with a sweet $120.00 in his pocket, each of our manipulators only took home $6.00.
Now don't laugh. $6.00 may not be much to me or you, but these crooks got this $6.00 with virtually no risk since they had planned all the while to drive the market down.
AW
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I must have given myself another 2 weeks before I quit trading about 50 times in my career.
I thank the good spirits I did not.
Before the inevitable I want you to do a few things. Then you will be able to quit knowing at least you tried, REALLY TRIED everything.
Make sure you buy and read the book, Trading in the Zone by Mark Douglas.
And I want you to get the book by Anthony Robbins Unlimited Power. Both in a way deal with the same thing. That to be successful all you really have to do is think that you are becoming successful.
I do not want to talk you out of the idea that the Wall Street insiders are conspiring to take your money. As a matter of fact I want to help you explore that theory.
So let's take a normal day as an example. Let's say you did not take any of profitable calls. You only took the gap trade which never filled. You probably lost 20 points as did the people I know who took the trade. The weird thing is at least 3 of the people who took the gap trade with you, I would definitely describe as a Wall Street insider. He had 20 contracts and lost 21 points which was a 2100.00 loss. ( I wonder why he did not manipulate the market in order to make a gain).
But lets forget that little problem. Let's talk about the (bigger Wall Street Insiders). The guys with hundreds of millions in the market each. I assume you had 1 contract in the gap trade. And if you had more, what was the basis for your disregard of risk? So you lost about $110.00.
That was not fun.
Now, how many of the big boys do you think it takes to drive the stock market down 38 points without so much as a rally to the pivot line? Certainly not 1. My guess would be at least 20 acting in concert. Wouldn't you agree?
So, they had to figure out a way to know that you were going to play the gap. I guess they could have asked me. They could have put a little pressure on to have me make the call in the first place. Now for doing that I do not come cheap. My reputation is on the line. But everyone has his price. So I will not admit to this, because it would be a crime, but perhaps $10,000.00 cash would get me to call a trade, assuming that you would follow it. Let's face it, we are dealing with the big boys. They can easily come up with $10,000.00 which would only be $500 bucks for each of the 20 insiders.
Since they are located all over the country, I don't think they all flew to New York for a breakfast meeting to discuss this manipulation. A quick conference call would be all that was needed. Since you never know who is monitoring calls these days, the lead conspirator could have said something like, "The tick isn't Pure anymore." That would be the key.
They would wait for probably 5 minutes after the opening, or maybe it is a member in the room. I know it's not Tickman anymore. As soon as I hit the buy buzzer, these guys start selling.
My guess is that they would have to insure that the market stays down all day, so they would not only have to make an immediate series of trades but would have to keep shorting any rallies that emerge during the day in order to keep that market down, below where you got in.
My assumption is that on a lower volume day like today, with oil rising, it would probably only take about 20 billion dollars to keep the market down all day. But these guys have the bucks, and let's face it, with the incentive to take your money they would spend all they had and get their other contacts to help in case there was unexpected buying.
Well we do know the result. Their shorting kept the market down. Of course, inadvertently, they helped Max Span go down and take some profits (There were at least 3 newbies in the room who did go short, but I guess the big boys couldn't get every newbies money or you would then have made a profit and spoiled their plans.
And as usual, their plans succeeded. They got your $120.00. The only thing wrong with the plan is that each of those Wall Street insiders would have wanted his cut---these guys don't play for nothing. So instead of walking away with a sweet $120.00 in his pocket, each of our manipulators only took home $6.00.
Now don't laugh. $6.00 may not be much to me or you, but these crooks got this $6.00 with virtually no risk since they had planned all the while to drive the market down.
AW