HuggieBear's Thread of Public Shame

H

HuggieBear

Hello Folks


This thread is going to serve as a place to air my personal failings - a place where I can semi-publicly shame myself while also recounting my failures at properly adhering to core trading rules.

I shall only be posting my failings here -- there will be no discussions of my successes, nor when I "do right". You didn't see The Pope singing his praises when he was a good Christian -- no, but he did lever the whip when he needed to keep himself in line. Now, I'm hoping this thread will be sufficient for my purposes, but if not I too may turn to the whip.

Today marks a perfect day to begin this thread given the egregiousness with which I conducted myself.
 
Suffice to say I've F'd up big this time.


I may be hear later today with my first, biggest, and last public shaming.


Developing...
 
Game Over for Huggie Bear


-$25k in just over 24 hours.


About a 14% portfolio loss.

HuggieBear is down for the count, pending reorganization.
 
10 years or so


Work full time...made a big mistake yesterday and left some buy positions open at support levels and got caught away for 3 hours...bad day for that to happen.

Needless to say, i compounded the problem.

It doesn't matter. I can't work full time and trade in the manner i've been trading. Simple as that.
 
Final tally: -$22k over 48 hours.



I have moved to a ultra long but hedged portfolio....if we can get back around 1100 I should get back to even. Limited down side risk.

No more 10 to 1 leverage days for me.

Needless to say, had i held until the close today I would be at break even. I would have had to stomach almost twice the losses at one point today, however. Not realistic.
 
If you have to pray on a position or if its not profitable in a matter of hours put a stoploss or reverse it.
Hell I lost 35k last week but made 25k back this week. You can make it back if you make smart trades not fearful ones. Play everyday as a new day.
 
Quote from HuggieBear:

Game Over for Huggie Bear


-$25k in just over 24 hours.


About a 14% portfolio loss.

HuggieBear is down for the count, pending reorganization.
More...

I feel for you... ( Don't make it habit! DO IT!!!)
 
Thanks for the encouragement and advice. I have been in this situation before -- I will make it back through careful, more risk averse trading. Always do...but it sure sucks to start of the year 25% in the hole.



Here is an interesting thing -- i normally swingtrade using a mechanical system on equities. I've backtested this system over the last 15 years and it averages about 100% per year, with no negative years. To achieve those returns, however, one must endure a certain level of volatility (i believe there are a couple of 30% - 35% drawdowns).


Anyway, my plan this year was to stick to that swing trading system exclusively, but then I kept getting all these long signals in January and I felt very strongly we were at the market top (at least near term, or in other words I was heavily expecting this correction.)

I went short futures on CL, ES, and NQ on the day the market topped. Don't ask me how i did that and still lost so much money. Don't ask me how I predicted the beginning of the correction TO THE DAY and still managed to lose 25% during the slide. This is the part where i suck tremendously.


Anyway, the point i was going to make is my mechanical swing trading system actually has lost 25% year to date, so i would be in the same boat had i stuck to my original plan.

Of course, i should be in a much better boat, possibly even a Yacht of some sort, but it is what it is at this point.


Anyway, I'm going back to the swing trading system for now to make back my losses. It is heavily due for a string of wins.
 
I am 1/3 of the way back to even after today's melt up. I am simply long positions in QLD, EWZ, and DNDN.

Relatively conservative approach, all positions fully hedged at 5%-7% below purchase price.

I have turned my attention back to full automation for my more active trading.
 
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