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

Man, I been down 25k and it took 2 1/2 years to get it back but I got grey hair now. I don't know 3what else to say.
I guess I'll just say a prayer for u tonight.

mjh
 
Quote from WD40:

always have 4 kinds of stops:
1. Stop loss -- say, get out when your position is down 25%
2. profit stop -- nothing goes on forever... don't let a win turns into a loss
3. time stop -- if the market is not going your way, get out, stand aside and look again
4. trailing stop -- a good set up will let your profit run

don't give up
I don't think you would. You will simply mourn for a few days/months, recoup your capital and start again.

but don't just dive in there... get educated... go learn options. If you are going to play big, you can't afford not to have a knowledge in options to cover you.

good luck!
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Caption: Things someone who's never had a $100K+ trading year would say.

I'm not saying this to be insulting- Actually, it might help you. If you choose to be a good sport and admit my assumption is correct, I'll PM you the exact reasons WHY your post is full of piker-think.
 
Quote from Rearden Metal:

Caption: Things someone who's never had a $100K+ trading year would say.

I'm not saying this to be insulting... but I wouldn't mind if you'd confirm whether or not I've assumed correctly...
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Caption: Something a guy who lost 1.5MM in one day with no stops would say.
 
Quote from wareco:

Caption: Something a guy who lost 1.5MM in one day with no stops would say.
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More piker-think.

That day was Jan 3rd, 2001. Stop orders wouldn't have done a thing to protect me in that situation. I'll let someone else explain the reasons why.
 
Quote from Johnny Walker:

I am not trying to mock you, I lost a lot of money shorting gold from 500 dollars last year. I know at least some of the pain you are feeling right now. I just think that if you have some money left you should to try and get lucky. I once saw a guy at the craps table lose 6,000 dollars down to 20 dollars then turn that 20 dollars into 14,000 dollars. Miracles do happen.
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I was a dealer in Las vegas for 3.5 years and yeah, thats a miracle. Now let me tell you the flip side. A guy came to my craps table with 15k. He was watching the field. (for those of you that dont know craps, the field is a set of number 2,3,4,9,10,11,12.) 1 roll bet. If your number hits you get even money (unless its 2 or 12 and you get double) if not..you lose. So this guy would wait for 3 non-field rolls and then bet 25 dollars in the field. If it didnt hit...he doubled up to 50, if that didnt hit 100 and so on. So he did that for about 20 minutes and he was up...oh i would say about 200 or 300 dollars...then in the next 10 minutes, no field rolls at all. that 15 grand just disappeared. Guy came back 30 minutes later with a ratty old 20 dollar bill trying to get it all back. No miracle that night.

Another guy went to the Orleans casino, had a 5 dollar chip but didnt know how to play blackjack...the dealers helped him and before he knew it he was up 160,000 dollars. He was generously tipping the dealers throughout his winning...but eventually gave every last penny back to the casino. After he was done he asked the pit boss if he could get a comped room. Pit boss just snarled at him and said "why dont you ask the DEALERS to get you a room?" (after all...the casino only got 5 bucks off of him and the dealers took home alot in tips) Anyway...the dealers all chipped in and paid for his room. :)

1 more story...a dealer at the horseshoe won 30k on his break at keno...next break he walked over to golden nugget to the craps table. Point was 5. He said "give me 27,000 across" next roll...7 out. Then he rushed back to work before his break was over. Man what a kick in the ass that was for him.
 
To the OP.

Sorry, did not read must of the posts on here. Are you a full time trader? I would suggest going back to whatever made you 400k.

Sorry to hear about this, but at least you can say you gave it a shot!
 
Quote from Kastro_316:

To the OP.

Sorry, did not read must of the posts on here. Are you a full time trader? I would suggest going back to whatever made you 400k.

Sorry to hear about this, but at least you can say you gave it a shot!
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It doesnt sount to me like he made the 400k trading, but rather gambled his retirement funds...



Moral of the story, NY isn´t Vegas... so dont gamble in the markets.
 
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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The true test of an individual is how well the come back from a heavy fall.
 
Quote from Rearden Metal:

Caption: Things someone who's never had a $100K+ trading year would say.

I'm not saying this to be insulting- Actually, it might help you. If you choose to be a good sport and admit my assumption is correct, I'll PM you the exact reasons WHY your post is full of piker-think.
More...
if you think you are so smart, why don't you start a new thread and lay it out on the open?
 
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