thse darwin awards dont give themselves out people
The Art of Blowing Yourself Up.
- Thread starter PohPoh
- Start date
My CTA firm now after all my learning trials and error does quite well now. So i am back in the game, all thanks to learning a lot form my expierence. Makes you a much better trader in the long run when you can learn from your mistakes, plus it makes you look for different types of opportunities to make money instead of the buy and hold strategy which is good for some but others want to make some more money.
how many mickie-d paychecks did you save to open a new trading account?
renegen
Registered: Aug 2006
Posts: 149
New Post 05-25-07 02:31 AM
Kudos for sharing your story and giving away free advice though, it's only made you better right?
Yes it has made me better. I never give up in anything whether people think I am dumb or not. I was a very good trader just miscalculated the transition from equiities to options on futures. I didnt come here to get bashed or called names but I wanted to be here to help some one not make the mistake I did. But also not be afraid to try riskier things for real opportunity if it is in someone's nature. If it is not then that person should stick to there risk tolerance. Naked options still dont scare me but I have a different approach for what I do and the research I do and all that. I still think they are great.
Registered: Aug 2006
Posts: 149
New Post 05-25-07 02:31 AM
Kudos for sharing your story and giving away free advice though, it's only made you better right?
Yes it has made me better. I never give up in anything whether people think I am dumb or not. I was a very good trader just miscalculated the transition from equiities to options on futures. I didnt come here to get bashed or called names but I wanted to be here to help some one not make the mistake I did. But also not be afraid to try riskier things for real opportunity if it is in someone's nature. If it is not then that person should stick to there risk tolerance. Naked options still dont scare me but I have a different approach for what I do and the research I do and all that. I still think they are great.
No you would have to profit 2/3 to break even but I get the gist.
I knew quite a few people who blew up and here are their stories:
- 30 year old guy with an MBA from Kellogg and responsible job. He was daytrading equities and overleveraged during 2000. He lost over 75000 in a few short days.
- 31 year old woman nurse. Lost over 65000, overleveraged.
- A co-workers friend, year 2000, lost over 120000. Overleveraged.
In every case of a blowup that I have heard of, there was too much leverage being used. All of the people involved were not uneducated just too greedy.
- 30 year old guy with an MBA from Kellogg and responsible job. He was daytrading equities and overleveraged during 2000. He lost over 75000 in a few short days.
- 31 year old woman nurse. Lost over 65000, overleveraged.
- A co-workers friend, year 2000, lost over 120000. Overleveraged.
In every case of a blowup that I have heard of, there was too much leverage being used. All of the people involved were not uneducated just too greedy.