I hear Saxon went on vacation with what he had left....
I am being SQUEEZED!!!! by the ES
- Thread starter saxon22
- Start date
Quote from Optionpro007:
I hear Saxon went on vacation with what he had left....
Optionpro007, that was a good one. I agree that if any part of him being short was true (and he probably WAS short, perhaps just not 60-70 contracts), then his absence now is very telling. He is either deceased... or in line at the local food pantry and Salvation Army to obtain his food and Holiday gifts. As the /ES continues to rally even this morning, his life must be very bleak right now. I can only hope he is still breathing... and did not again use the Martingale Strategy to be short 140 contracts of the /ES. If he did continue to leverage his losses in the past few days, his account would be finished.
wow, he must be down 100k by now.....goodness, I hope he doesn't look at his numbers while on vacation.
Not really, since his Dec futures already expired saving his ass and he didn't say anything about rolling it over. Also, a 10 pts adverse move only causes -21K loss at 42 cars.
Comparing to the possible account size, this trade was probably only a -5% loss.
Since the position is most likely over but we still would like to be entertained by Saxon, let me ask him a few questions, just because we are curious:
1. Let's assume the whole thing was real. A 70 cars overnight position indicates at least a 400K trading account. Where did you get that kind of money?
2. Since you were sim trading 2 years ago, suddenly you had a shitload of real money to trade (again, assuming). How fast or slow did you scale up to have 70+ cars positions? Gradually or immediately?
3. Since you don't seem to be learning from your own mistakes, isn't it time to let somebody else handle the account for you?
4. Just in case I am completely missreading you and you have been profitable in the last few months, could you give us a hint of your returns in Aug, Sept, Oct?
5. I guess it is also a safe assumption that you don't live off of your trading profits, correct?
Of course you don't have to answer any of these questions but you decided to share your pain and certain info, so you might as well play along and keep sharing. (we are also curious if you can keep the story straight and consistent)
The OP Saxon needs to go back to training and train himself in reading markets correctly. One should have phenomenal reading of markets before putting first live trade.
Phenomenal reading of markets is accurately understanding mass psychology developed over a period of 10 years.
Once you get a phenomenal reading of markets, success will kiss you and you will not make drastic mistakes.
Phenomenal reading of markets is accurately understanding mass psychology developed over a period of 10 years.
Once you get a phenomenal reading of markets, success will kiss you and you will not make drastic mistakes.
