TOTAL HONESTY: how much did you lose today?

Quote from pairsarbtooo:

If I wasn't such a good guy, and if I didn't believe you were glad, I would say you are an ass. But I didn't say that.
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Thanks for not saying that I'm an ass. That would make you a clown, but you didn't say it. So thanks. I am truly glad for you. I'll look for your ebook on torrent. toodles!
 
Quote from pairsarbtooo:

I caught myself feeling bad for missing out on that day, and then just told myself there is no such thing as missing out. There is ALWAYS another trading day, and there exist 1000s of ways to profit in the markets. I could have had the best day of December so far had I traded on the rate announcement day, but had planned to take Monday and Tuesday off. Life balance issues and I have enough or more than enough money.
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Were you trading equities from 2001-2004?
Four long, grueling shitty years with barely three decent trading months out of 48. Yeah, sure there's 'always' another trading day... if you don't mind waiting a few years.

Good thing I didn't have your attitude during the internet bubble. I grabbed every cent I could when I still had the chance. 'Enough' was NEVER enough. It's a good thing too- In none of the seven years since have I made more than 10% of my take in 2000.
 
made nothing and lost nothing today. and i feel pretty good.

i took today off. i've learned that i never make money on rollover days...so i just didn't trade at all today.

i won't trade futures until tuesday, and i will be light and tight. i like to wait about 2 weeks into the new ES contract before i put on my full size.
 
Quote from $CostAverageMAN:

Haven't posted in a while.....

My day was saved by TWM, EUV, FXP, SRS, SKF, SDS, TWM, MZZ...

I was very disappointed that the fed did not cut 50 on the discount to help Libor spreads...

ALL in ALL the day was great....I should of lost 7 figures easy....If I was fully invested long...

$COSTAverageMAN
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major props to you DC. swinging that kind of change intraday isn't easily done.

Personally I'd take most of it out and play with prop money.
 
i hate this question - why? not because i am a looser that day or some other day sure i loose. but i get asked this question all the time and its usually on a big move day when i get asked.

its not weather you win or loose on any given day that counts its did you follow your plan today and implement it in a way which as closely as possible replicates your training. this is what really matters.

i almost look forward to loosing days because like the dry chocolate cookie of an oreo - i can get that out of the way to get after the white soft sweet center which is what i really want to eat in the first place.
 
Quote from MarkBrown:

i hate this question - why? not because i am a looser that day or some other day sure i loose. but i get asked this question all the time and its usually on a big move day when i get asked.

its not weather you win or loose on any given day that counts its did you follow your plan today and implement it in a way which as closely as possible replicates your training. this is what really matters.

i almost look forward to loosing days because like the dry chocolate cookie of an oreo - i can get that out of the way to get after the white soft sweet center which is what i really want to eat in the first place.
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well put. Losing days need to occur, although its powerful to envision trading with losing days 1/20th or less of your winning days. Its a cycle, a recharge. Also a gentle reminder that you are not God no matter how much money you are making. (See LTCM et al for other lessons).

Ying/Yang. Black/White. Winning/Losing. It's all connected. But one wonderful thing about trading is you can determine so a great extent HOW MUCH YOU WIN, And HOW MUCH YOU LOSE>

So, you can, as Ed O Thorpe said, bet the max when the odds are in your favor, and bet the minimum when they are not so you are always in the game.

Peace out.
 
Quote from Rearden Metal:

Were you trading equities from 2001-2004?
Four long, grueling shitty years with barely three decent trading months out of 48. Yeah, sure there's 'always' another trading day... if you don't mind waiting a few years.

Good thing I didn't have your attitude during the internet bubble. I grabbed every cent I could when I still had the chance. 'Enough' was NEVER enough. It's a good thing too- In none of the seven years since have I made more than 10% of my take in 2000.
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What about this year? You are telling me that you traded that long and didn't pull a bunch out this year? With all of this volatility?

Anyway, mr. metal, whatever works for you. I agree the period you talked about after that was lower in volatility (and although you didn't use that word I filled in the blank for you). But there are a ton of strategies available to you, maybe next time you will pick one that works better when conditions change. Maybe less posts and more trading? hmm.

One I used during that time was long short arbitrage, which turned into directional trades by lifting certain legs of trades as conditions warranted.

PM me for details.

All the best, man. Sorry you didn't like my attitude, but I am not here to please you. Right?

Or did you mistake me for someone who is?
 
Quote from Reaver:

Thanks for not saying that I'm an ass. That would make you a clown, but you didn't say it. So thanks. I am truly glad for you. I'll look for your ebook on torrent. toodles!
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:) Thanks for keeping it light I was worried that you might take it the wrong way. Peace.
 
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