S/R Emini Journal

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my biggest blowup was 1994. i had 7500 shares of a stock called mediavision. i basically averaged down as it was falling. the company kept saying things were great. it had great earnings but the stock kep falling. then one day after close they said they'd have announcement the next day. well they had huge warning and stock opend down 50%. i sold on open and lost over 100k. it was a great lesson on stopping out i've never forgot
 
I hope to have a real fun weekend right here listening to other stories. My whole purpose of this is not only to show a lot of new guys that it is normal to go through this stage but to get to know all of you who will share your stories. I know my screw ups as I see mine every time I screw up. And yes I do still screw up even with my outline right in front of me. Every night when I plan my trades I write them down on a post it note and keep it in front of me. I still make a mistake from time to time and that makes me more mad than a losing trade does.

I also have a habit of being a very emotional trader after I am finished for the day. I always hear people say you can't have emotion in this game. I am here to say that you can and that is the fun part of trading for me. If I have a winning trade in the morning and then a sales meeting with a doctor that afternoon. That Dr is mine, I will always get his/her business because I am so excited about everything I do the rest of the day. If I lose that morning most people would not be able to tell because I yell and cuss for a couple of minutes and move on.

Have a good one JJ,
Gary
 
Quote from joeyata1:

my biggest blowup was 1994. i had 7500 shares of a stock called mediavision. i basically averaged down as it was falling. the company kept saying things were great. it had great earnings but the stock kep falling. then one day after close they said they'd have announcement the next day. well they had huge warning and stock opend down 50%. i sold on open and lost over 100k. it was a great lesson on stopping out i've never forgot
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Ouch!!! Did it mess you up like mine did me or could you keep on?
 
Quote from 4re:

I hope to have a real fun weekend right here listening to other stories. My whole purpose of this is not only to show a lot of new guys that it is normal to go through this stage but to get to know all of you who will share your stories. I know my screw ups as I see mine every time I screw up. And yes I do still screw up even with my outline right in front of me. Every night when I plan my trades I write them down on a post it note and keep it in front of me. I still make a mistake from time to time and that makes me more mad than a losing trade does.

I also have a habit of being a very emotional trader after I am finished for the day. I always hear people say you can't have emotion in this game. I am here to say that you can and that is the fun part of trading for me. If I have a winning trade in the morning and then a sales meeting with a doctor that afternoon. That Dr is mine, I will always get his/her business because I am so excited about everything I do the rest of the day. If I lose that morning most people would not be able to tell because I yell and cuss for a couple of minutes and move on.

Have a good one JJ,
Gary
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Funny you mention emotion, I used to be like that but now it makes zero difference whether I win or lose, zero emotion, just a game of taking my best shot and letting the odds take care of the rest. The only one who can tell when I had a bad trade is my wife.
 
My worst trade was being short JNPR and they beat earnings,stock halted and that SOB gapped so hard not even a stop could have saved me.
I think it went up like 25+ % before I could cover.
 
Quote from volente_00:

My worst trade was being short JNPR and they beat earnings,stock halted and that SOB gapped so hard not even a stop could have saved me.
I think it went up like 25+ % before I could cover.
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How big a hit was that to your acount size, were you able to keep trading?

I am emotional about trading and I don't plan to change. I hear that you can't be that way but I don't really want to change that. I have fun with it. And believe it or not it keeps me focused. Now if it really gets to a person then they don't need to be doing it. But I don't give myself an ulcer or anything either.

If I do ever blow out my account again and I don't plan on doing it. But if I do all of you guys will know it, you can count on that.
 
Volente,
You are also a Texas guy aren't you. I think you are living close to Porgie if I am not mistaking? Do you guys ever get together or met each other?

I don't know any other traders living close by me except the few friends that I have taught to trade. I know there are some because I have read the Tx traders thread here but I have not met any.
 
I really don't remember it was in 2001, I think it was around 30k loss It was around 100k in the account and my dumbass was margined out to the max. It was the only time I ever got a margin call.
 
Quote from 4re:

Volente,
You are also a Texas guy aren't you. I think you are living close to Porgie if I am not mistaking? Do you guys ever get together or met each other?

I don't know any other traders living close by me except the few friends that I have taught to trade. I know there are some because I have read the Tx traders thread here but I have not met any.
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no we haven't. I have in laws in Bedford, maybe we can hook up sometime. Hopefully in 2007, i am going to take time off and travels north, east and west over the US and meet people that I know off of this board. So far my stops are georgia, chicago, idaho, new york, cali, nevada.
 
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