This Trader Just Committed Suicide

Ten years ago an acquaintance/occasional golfing-drinking buddy/hang-around-dude at a prop firm I was at blew his brains out with a handgun. A DAX scalper who hit a rough patch with his trading, and he was in his 40's.

Ultimately, it was a very cowardly and despicable act since he had a family as well. Never reached out, but liked to bitch and moan about the markets while never taking any advice or seriously entertaining a change in strategy. Bothers me still.
 
As you noted, your friend was not a trader, but a gambler whose game of choice happened to be the market. There was no edge, method, or system that was going to save him, other than GA. Sorry to hear of your losing a friend though. He wasn't a bad guy, just a sick one.
 
trading without stops will get YOU !

market knows what you think and knows how to trick/intimidate you into not doing the right thing - exit loser quick ! Eventually will drive YOU to margin call. And then reverse.

except of course if you use no leverage. And happy to chase 5% above inflation reeturn per year which is a happy way to do it.
 
Quote from the1:

Read "Autobiography of a Yogi," by Paramahansa Yogananda and you will be on your way to understanding the meaning of life. It has nothing to do with money or materialistic possessions.

http://en.wikipedia.org/wiki/Paramahansa_Yogananda

http://www.amazon.com/Autobiography...=sr_1_1?s=books&ie=UTF8&qid=1293749354&sr=1-1
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Yogananda taught his students the need for direct experience of truth, as opposed to blind belief. He said that “The true basis of religion is not belief, but intuitive experience. Intuition is the soul’s power of knowing God. To know what religion is really all about, one must know God.

A bit of a contradiction in terms. What exactly is intuitive experience? Some kind of gut feeling for traders? We all know how well that works!
 
post a link to verify your story...or is it a b.s. story.

it's pretty common actually in the options pit...and in the casino in las vegas.

nothig big deal.

anyway post a link to verify the story or you are wasting every time fake post?
 
Quote from emg:

that is one of many reasons why i begin this thread

http://www.elitetrader.com/vb/showthread.php?threadid=212679


97% of the people DO NOT UNDERSTAND THE RISK INVOLVED TRADING IN THE FUTURES MARKET. Does anybody knows what this means:

CFTC Disclaimer:

Anyone buying or selling futures contracts should clearly understand that the Risks of any given transaction may result in a Futures Trading loss. The loss may exceed not only the amount of the initial margin but also the entire amount deposited in the account or more. Moreover, while there are a number of steps which can be taken in an effort to limit the size of possible losses, there can be no guarantees that these steps will prove effective. Well-informed futures traders should, nonetheless, be familiar with available risk management possibilities.

Futures trading is not for everybody and only RISK CAPITAL should be used.
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Personally I would hope anyone trading futures realizes that - also anyone selling short and selling options without protection as well.

Killing ones self over money is just stupid - just move to a farm in ND, MT, OK, whatever - mow lawns for a living or something - half the people would probably end up enjoying their lives more that way actually.

JJacksET4
 
A search in Google shows no information about this suicide. Only found in a few forums, some of which have deleted the story. Unless someone can find a link to this story in a newspaper, I suspect it is bogus.
 
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