How do you stomach huge loss day

Quote from fbirdien:



Would appreciate your thoughts
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What % of your account was it? 60m at 1%..who cares? 60m @ 50% you`re an idiot.

Move on. Dont revenge trade. And go for base hits.
 
Quote from fbirdien:

Has anyone established a standard mechanical procedure to handle such loss day?

Would appreciate your thoughts
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New to trading but I don't think there really is a mechanical procedure in dealing with losses.

Accept it and move on.
 
Quote from BSAM:

Can you prove that you lost $60,000 yesterday? I find this quite hard to believe. You lost $60,000 day trading on Feb. 18-2010?
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I have read on ET people lose this kind of money daytrading..names that I mentioned

BTW .. I was not daytrading
 
Quote from fbirdien:

I have read on ET people lose this kind of money daytrading..names that I mentioned

BTW .. I was not daytrading
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Oh...Uh huh.....

Think maybe your orginal post was maybe just a wee bit misleading?

But, now that we know you didn't lose $60,000 day trading, the question becomes, why did you not use a stop loss earlier? I don't care how rich or how poor you are; unless I'm talking to Michael Jordan, Ozzy, or Paul McCartney; in my opinion you don't have the discipline to trade. I doubt there's more than three people on ET who can afford a $60,000 loss.
 
Quote from Szeven:
If I lose a small amount I......
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On good days, you drink Hennessy by yourself. On bad days, you drink NightTrain Express with the homeless and tweakers. :cool:
 
Quote from BPtrader:

You misled people by saying you "lost $60,000 yesterday."

The fact is you have been losing little by little over a period of 4 weeks, you only closed the losing position yesterday (or still holding).
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how do we know that? it could have been an overnight earnings play.
 
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