My Story Trading as teenager, lost $50000 daytrading futures

[Tim Smith]

On point I over traded likes 50 trades a day and that too on a leverage of 1:40.

So just like I said, over-trade, over-leverage. That's why you ended up $50k down.

I mean seriously 50 trades a day, that's (roughly) a trade every 10 minutes if you assume an 8 hour day ... it tells me you were basically clicking away day after day with no real plan. Talk about pissing your money down the pan.

 

[RichTrader98]

So just like I said, over-trade, over-leverage. That's why you ended up $50k down.

I didn't see it as wrong at that time when I was just a beginner. I though bigger positions = bigger profits.

 

[Tim Smith]

I didn't see it as wrong at that time when I was just a beginner. I though bigger positions = bigger profits.

Oh dear.

Seriously man, like I told you in my first post. Leave the remaining $20k in the bank where you can't do any more harm to it and stay the hell out of the markets !

 

[motif]

This is my story
I lost $50000 trading futures and the majority of those loses were incurred day trading Crude Oil and Natural Gas futures. I want strategies and suggestions to recoup the loss. I don't have a job. I lost my father's money. I want suggestion. I have been trading since about more than a year.

When you stop lying, come back to ET and learn how to trade.

 

[RichTrader98]

When you stop lying, come back to ET and learn how to trade.

It's the truth

 

[motif]

It's the truth

Well, if what you're saying is true, and forgive me for sounding a little terse, your father is a moron. I still have doubts about this story.

 

[Nereto]

I didn't see it as wrong at that time when I was just a beginner. I though bigger positions = bigger profits.

Obvious troll is obvious.

 

[luisHK]

Funny, sounds like a troll but it gives parents around thinking of handing their kids money as soon as they are adults food for thought. No wonder many opt for buying them real estate, might not be the most productive use of money but it s harder to waste.

 

[luisHK]

For a lot of youngsters that kind of money is very easy to blow in parties in a tiny fraction of a year, not quite convinced daytrading is a better way to lose those funds still.

 

[fyretrading]

options. trying to guess direction will never work