If he felt pain today, hows he gunna feel if the market recovers tommorow??
If that happens (unlikely i admit) he will feel really sick...
If that happens (unlikely i admit) he will feel really sick...
Video of a trader blow up Today, NSFW lol
- Thread starter jtnet
- Start date
Yen
He could have sold the next futures contract. If there was no other vehicle he could have shorted the esh08 ( march 2008 emini futures). You have to figure out how much you are losing per tick and hedge the other way. As for your second
question, no he would have been hedged or locked with the loss.
The second question is where to take the hedge off. That is a tough one. The point of the hedge is to think; do I still want to be in this or do I get out. Of couse easier said than done. There is a book by Thomas Kostigen called "What money really means" not a trading book but it puts money in perspective.
its up to him to get back up and stagger back into the ring. plenty of excellent 2002-style buying opps coming up.
I feel like a looser for not making some money last night. 
If the Feds do a surprise overnight rate cut, this guy will jump out the window.
Expensive lesson in using a max pain stop (at LEAST put a frickin' stop at the previous swing high or swing low!).
I didn't find much humor in this. It reminded me of how I used to feel.. knowing I should cut the loss, hoping for some sort of market redemption that you know in your heart isn't coming, yet you sit there and let your equity grind down.
Expensive lesson, but from the looks of this guys emotions, a much needed one.
I didn't find much humor in this. It reminded me of how I used to feel.. knowing I should cut the loss, hoping for some sort of market redemption that you know in your heart isn't coming, yet you sit there and let your equity grind down.
Expensive lesson, but from the looks of this guys emotions, a much needed one.
Marketsurfer himself is a "SIMULATOR", been one forever.
I can relate to this experience as i once took a 13 handle loss by being a complete idiot. Thats the bad news ...........the good news is i reinvented myself after such a bad hit.............that ONE SINGLE TRADE was the one that made me enter STOP LOSS automatic. NEVER have i taken any loss since then larger than 3 handles.
Some times a slap upsode the head tells you the mkt means business. ..
Young whiz kids learn these lessons the hard way ..........they are to smart to listen. Quacks that tell them no losses, triple the sdaily range etc..........they listen to fools like that. ..
I can relate to this experience as i once took a 13 handle loss by being a complete idiot. Thats the bad news ...........the good news is i reinvented myself after such a bad hit.............that ONE SINGLE TRADE was the one that made me enter STOP LOSS automatic. NEVER have i taken any loss since then larger than 3 handles.
Some times a slap upsode the head tells you the mkt means business. ..
Young whiz kids learn these lessons the hard way ..........they are to smart to listen. Quacks that tell them no losses, triple the sdaily range etc..........they listen to fools like that. ..