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I am being SQUEEZED!!!! by the ES
- Thread starter saxon22
- Start date
Earlier he posted a screenshot showing how many contracts he still had on if I remember correctly. I am wondering if he is still in the trade or not. Wasn't he supposed to be out of the trade by the 15th? I don't remember him saying if he got out of the trade or not.
Hey, unlike Saxon, I am actually on vacation! Missed out the big freeze in the North.
Anyhow, as this sad, painful but very educative thread finally comes to a halt, let's make the final tally and thank Saxon that he didn't pull the usual "I am rolling the position over" bullshit, thus extending his agony and our entertainment:
So let me get my calculator: (44-28) x 50 x 42 = -33.6K
Adding the 10K profits to it makes the final loss:
-23.6K
Before this threads rightfully enters the ET Threads Hall of Lame, let's ask ourselves for the last time:
What did we learn here???
1. Never try to make a big, last trade of the year.
2. Impressing us with size only works if it is real money AND a winning trade.
3. There is (usually) a limit to margin, but not to stupidity.
Anyhow, as this sad, painful but very educative thread finally comes to a halt, let's make the final tally and thank Saxon that he didn't pull the usual "I am rolling the position over" bullshit, thus extending his agony and our entertainment:
So let me get my calculator: (44-28) x 50 x 42 = -33.6K
Adding the 10K profits to it makes the final loss:
-23.6K
Before this threads rightfully enters the ET Threads Hall of Lame, let's ask ourselves for the last time:
What did we learn here???
1. Never try to make a big, last trade of the year.
2. Impressing us with size only works if it is real money AND a winning trade.
3. There is (usually) a limit to margin, but not to stupidity.
The guy is a total joke anyone trading similar securities for real can smell the phoniness of his posts a mile away. I wonder if he understands the concept of unlimited risk if this market rallies through 1250 ? Maybe he went to the "Flydown School of Idiotic Investment Strategies". They both like to claim they made money in high risk investments when the underlying goes far against them.
This site has an issue though. If it purports to be useful in terms of a resource to real traders and speculators ( as I am myself but certainly not fully successful at yet ), these fiction writers and/or people with really bad trading strategies ( but no accountability ) need to go. Bring up real risks and trading issues with their ideas they just start spouting nonesense and its obvious they don't even know the potential drawbacks in their positions.
NiN
Quote from Pekelo:
But it doesn't. The site has one mission statement that I am aware of, making Baron rich. If while doing so someone finds some useful info or entertainment value, so be it, but that is NOT the primary reason for the site's existence.
Just so we are all on the same page...
have to agree with you even though you put me on ignore
Before this threads rightfully enters the ET Threads Hall of Lame, let's ask ourselves for the last time:
What did we learn here???
1. Never try to make a big, last trade of the year.
2. Impressing us with size only works if it is real money AND a winning trade.
3. There is (usually) a limit to margin, but not to stupidity. [/B][/QUOTE]
I am in accordance with the above view. With a scintilla of reservation in case Saxon is behaving with veracity, I would add myself to the voices that would adjudicate his trading style as completely reckless and devoid of merit. One sure giveaway is his complete absence of risk management while he is trading 60-70 contracts. That is a relatively capacious account size for a virgin rookie trader. One cannot achieve such success with a trading style that is consonant and kindred to a person making his very first trade. The other possibility is that he either inherited that money or sold a large business... both options he did not admit to. I have been trading for decades with considerable success, and I am loathe to increase risk in order to triumph the trade and annex my ego. Many years of trading have instilled in myself the humility of the randomness of the markets, and preservation of account size is paramount after you have established the "edge".
His behavior is textbook to how one should not trade. I nearly lost my lunch a couple of times in humor at this utter recklessness. If he continues his actions, he must divulge that his family or girlfriend must enjoy living under bridges during the wintertime while he is assuming the role of "mendicant" instead of "trader". I will adumbrate that he cannot with any degree demonstrate the integrity of his assumed trades... because even if he can, it is certain that if he does not change his ways, his career in trading will be met with an abrupt and unceremonious end, with his reporting that he is now able to deliver pizzas to the rest of us. Perhaps it is that he reminds me of the character of "Don Quixote" by Cervantes. Let me remind the readers that the story does end with his regaining sanity...but alas melancholy and death, even as Sancho Panza endeavored to restore him. Let us hope that the OP can pick up a decent book on trading to guide him in the path to profitability. Although I will choose to remain anonymous on this message board, I give my word as my oath that my years of experience dictate that preservation of one's capital must be held sacred at all costs, even as much as a young father protects his teenage daughter's chastity. I have always held the protection of my capital as dear, as the number one priority, and as such am considered by my peers as epinician. However, perhaps... if Mr. Saxon's horrific unprofitable trade is real and not a demo, then this is a valuable lesson that he could have only purchased with such a painful experience. Sometimes, a person can learn no other way. But one always bears the consequence of his actions, if he was trading in such an infantile manner, then he will bear the fruit of such. I rarely do quote the Bible, but here an apt adage applies, "Be not deceived, God will not be mocked. A man always reaps what he sows." (Galatians 6:7)
What did we learn here???
1. Never try to make a big, last trade of the year.
2. Impressing us with size only works if it is real money AND a winning trade.
3. There is (usually) a limit to margin, but not to stupidity. [/B][/QUOTE]
I am in accordance with the above view. With a scintilla of reservation in case Saxon is behaving with veracity, I would add myself to the voices that would adjudicate his trading style as completely reckless and devoid of merit. One sure giveaway is his complete absence of risk management while he is trading 60-70 contracts. That is a relatively capacious account size for a virgin rookie trader. One cannot achieve such success with a trading style that is consonant and kindred to a person making his very first trade. The other possibility is that he either inherited that money or sold a large business... both options he did not admit to. I have been trading for decades with considerable success, and I am loathe to increase risk in order to triumph the trade and annex my ego. Many years of trading have instilled in myself the humility of the randomness of the markets, and preservation of account size is paramount after you have established the "edge".
His behavior is textbook to how one should not trade. I nearly lost my lunch a couple of times in humor at this utter recklessness. If he continues his actions, he must divulge that his family or girlfriend must enjoy living under bridges during the wintertime while he is assuming the role of "mendicant" instead of "trader". I will adumbrate that he cannot with any degree demonstrate the integrity of his assumed trades... because even if he can, it is certain that if he does not change his ways, his career in trading will be met with an abrupt and unceremonious end, with his reporting that he is now able to deliver pizzas to the rest of us. Perhaps it is that he reminds me of the character of "Don Quixote" by Cervantes. Let me remind the readers that the story does end with his regaining sanity...but alas melancholy and death, even as Sancho Panza endeavored to restore him. Let us hope that the OP can pick up a decent book on trading to guide him in the path to profitability. Although I will choose to remain anonymous on this message board, I give my word as my oath that my years of experience dictate that preservation of one's capital must be held sacred at all costs, even as much as a young father protects his teenage daughter's chastity. I have always held the protection of my capital as dear, as the number one priority, and as such am considered by my peers as epinician. However, perhaps... if Mr. Saxon's horrific unprofitable trade is real and not a demo, then this is a valuable lesson that he could have only purchased with such a painful experience. Sometimes, a person can learn no other way. But one always bears the consequence of his actions, if he was trading in such an infantile manner, then he will bear the fruit of such. I rarely do quote the Bible, but here an apt adage applies, "Be not deceived, God will not be mocked. A man always reaps what he sows." (Galatians 6:7)
So you are considered to be an epinician ,eh?.......quite franky you are nothing more than a person who had /has discipline and uses commonsense when trading....if only most....
NiN
NiN
NiN,
Incidentally, NiN is one of my favorite rock groups, albeit though I am graying considerably and they are fresh faces for me. I am still endeavoring to appreciate the "hip hop" music, as I grew up in another music generation. I did have to endure wicked suffering though to learn to appreciate "black swans". Any trading system that ignores black swans, as a dear friend of my keeps telling me, is doomed to fail.