i've lost 400k the last 2 months i'm quitting

on may 10th i bought about 10k shares of mrvl avg around 56ish. it had fallen hard off 61 from a few days earlier and i thought it bottomed. brcm i was in around 41 ish with 12k shares plus i had a 100's of of options on both. it was just greed as i wanted the big score i guess. i'm just a drunken gambler i guess
 
MRVL was one? What was the reasoning behind going long that stock, esp with tech stocks behaving as they have?

Not that you couldn't take a shot, but if a gambling addiction is the problem, then money management isn't even in your lexicon.

I think there was a quote in Market Wizards about satisfying any urge to gamble in Vegas rather then the market. If you lose your money in Vegas, at least there were pretty girls and free drinks...
 
Quote from hedgeking:

i left with 15k. i just froze. i hedged nothing as i was paralzed. it seems like a bad dream. waking up every morning with butterflies. i've put my family in grave risk now as my gambling addiction wiped me out.
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I'm not quite psychotic enough to read this entire thread... how is it possible to go from $400k to $15k under regT holding a few stocks?
 
i lost $50.00 bucko's today shorting appl - i'm quiting too! i can't sleep at night knowing someone has my 50 spot and i'll never get it back...:(
 
When I was on the retail side, I saw a guy deposit $1.8mm inheritance check and in 18 months he owed the brokerage $20,000. Everything he touched turned to crap. His biggest mistake..betting too much on one or two stocks.

Lesson here: Never risk more than 10% in any one position of your entire portfolio.

If you are arrogant and don't believe me, you will soon find out.
 
Quote from hedgeking:

i've dropped 400k since may 10th and i'm throwing in the towell dead broke. i was long everything from mrvl to brcm and was margined huge. i just couldn't take a lose and now it's over. i wish all the best of luck
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False
 
You see the same scenario over and over here on ET. Some new poster starts a BS thread like this, posts a few times, and then it takes on a life of its own. A whole slew of different posters then perpetuates the thread. In the meantime, the original poster is no where to be found.
 
what do you mean no were to be found? i just got my ass kicked in and laid my soul on here at the shame i've created for myself and you call me a fraud?try dropping 400k and see how you feel. you think i want to sit on here and answer 1000 questions after i've been destroyed. i simply put this not on here so others don't go down the same shitty road i did.
 
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