I am finished.

[BPtrader]

Quote from Speciaul_K:

How do you go from making 5-20$ a day trading 3-5lot CL positions to burning 10k overnight? If you are telling the truth your money might be better spent burning it in the fireplace to heat your home. Or go to the bank and cash it all in for 1$ bills then tape them all together and use them to wipe your ass. You could even stuff them all in a box and use them as tissue to blow your nose after a good cry.

I have never said I was making 5-20$ a day trading 3-5lot CL. In fact, it's impossible to make so little money trading CL. You either make a lot more or lose a lot more trading CL. You have to be really good to control it within +50 and -50. Anyway, I was not trading CL, I was trading ES.

The only time I traded CL was the Monday night and Tuesday morning when I lost $15000, that was gambling. I thought CL was a good gambling instrument because it moves fast, so I shorted 5 lots Monday night, held them overnight and through the next morning and lost big time. I should have never touched CL in the first place. CL is a losers' game.

 

[MohdSalleh]

Quote from BPtrader:

I have never said I was making 5-20$ a day trading 3-5lot CL. In fact, it's impossible to make so little money trading CL. You either make a lot more or lose a lot more trading CL. You have to be really good to control it within +50 and -50. Anyway, I was not trading CL, I was trading ES.

The only time I traded CL was the Monday night and Tuesday morning when I lost $15000, that was gambling. I thought CL was a good gambling instrument because it moves fast, so I shorted 5 lots Monday night, held them overnight and through the next morning and lost big time. I should have never touched CL in the first place. CL is a losers' game.

so are you completely done now?

 

[spd]

Quote from BPtrader:

I should have never touched CL in the first place. CL is a losers' game.

I disagree wholeheartedly.

 

[Speciaul_K]

Quote from BPtrader:

I have never said I was making 5-20$ a day trading 3-5lot CL. In fact, it's impossible to make so little money trading CL. You either make a lot more or lose a lot more trading CL. You have to be really good to control it within +50 and -50. Anyway, I was not trading CL, I was trading ES.

The only time I traded CL was the Monday night and Tuesday morning when I lost $15000, that was gambling. I thought CL was a good gambling instrument because it moves fast, so I shorted 5 lots Monday night, held them overnight and through the next morning and lost big time. I should have never touched CL in the first place. CL is a losers' game.

Assumed you were since you were heavy in the cl redux thread 2weeks ago + asking who was frontrunning your oil trades. The futures market is not a casino were you walk around to different tables/pits and pick red,black/long,short. Worst part is you call trading a "game" I don't think anyone here that makes a living doing this calls it a "game". To you it was a game, and if your going to treat it like a game or casino don't expect to leave with your money. Or leave enough in your pocket to pay the valet to get your car back.

 

[BPtrader]

Quote from Speciaul_K:

Worst part is you call trading a "game" I don't think anyone here that makes a living doing this calls it a "game".

Sorry I offended you traders by calling trading a "game." But isn't it one of your own who called trading "a game of probability."

I will provide a citation if you request one (I'll just yahoo someone out).

 

[hermit]

Quote from BPtrader:

Sorry I offended you traders by calling trading a "game." But isn't it one of your own who called trading "a game of probability."

I will provide a citation if you request one (I'll just yahoo someone out).

Offended you traders? One of your own? Are you quitting from some sort of a klan when you said you quit trading

 

[Johno]

Quote from BPtrader:

I am in pain:

http://www.flickr.com/photos/gahsoon/2734308801/in/photostream/

but you laugh at me? You cruel traders! you are like a pack of wolves eating a sick wolf.

Thanks for the entertainment, today was shaping up to be boring day.

Some of these guy's need to get a sense of humour!

Regards

Johno

 

[logikos]

Dude, pick the "boring" securities to trade. The profits are slower but blow out days are rare.

 

[NoDoji]

Quote from BPtrader:

To get it back, I shorted 5 lots of CL at $74.20 last night, hoping it to drop to $72. I was confident that this trade would work out, because the entry looked like a perfect lower-high. I didn't have a stop loss, as I was convinced a drop would come in the morning.

So you shorted a lower high in a narrow range. Makes sense. Or a long position in a narrow range makes sense too. Breakouts occur out of narrow ranges and that's what you're looking for. If you're short, your stop automatically goes in just above the high of range; if you're long, stop just below the low of the range. In fact, you could place double-size stop to put you in a reverse position if it breaks against you. It will take you a long time to lose a lot of money if you abide by this basic rule.

 

[icscbrnk]

You may have lost the $ 25 K, but you have not lost the experience. It may take some time to regain enough cash to get back in the game, but your experience is worth money to you. Look at the record of the biggest winners in the business, and you will find that they have lost bigtime, been blown out several times. Yet this experience was the basis for their comeback. And now they are consistent winners. If you do not have the experience, you are not likely to have the respect for the markets. Now that you have that experience behind you, plan for a successful future with a solid system and a realistic and disciplined plan. Good luck and Great Trading.