Video of a trader blow up Today, NSFW lol

This is the kind of mistake you should only make once.

More than that and you PROVE you're an idiot.


This disaster mostly comes from thinking your opinion actually means something even when evidence suggests otherwise.

Ego be expensive
 
Quote from nkhoi:

yes, it's kind of daring the tank to run over you and secretly hope that it won't .
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Hey, one guy in Tienamen square took that position and it has paid off for the whole country in a way.
 
That was me last year when the market was zooming up. Don't worry man, hope your dumb ass wasn't on margin at least and you will be patient or at least have reserves when we bounce.
 
Am I the only one who can't believe how probably half the guy's on here can't figure out WTF contract he is trading.

Watch the video: HE WAS LONG 10 ER2 FUTURES!!

Not YM contracts.
 
Quote from HolyGrail:

He reached the dangerous "fuck it" time period where he justifies in his mind that he would rather stay in and lose it all with the hope of minimizing his loss as opposed to taking a 20,000 loss right now and having no hope. I've done that myself in the past but will never EVER do it again. Every dollar you lose during that fuck it period is a difficult dollar to make back. You're better off giving that money to charity, at least you'll feel better about yourself.
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There was one thing when I went back over a few of his previous posts on his blog that was a HUGE red flag. I'm sure some of you other guys caught it as well.

HE HAD HIS BIGGEST ONE DAY GAIN EVER not more than a week ago.

Now tell me, if there isn't a huge correlation between a discretionary trader/scalper's biggest gains occuring within day's of their biggest losses.

It also didn't help that the guy had dropped $10k the day before long AAPL. Once a guy is swinging around 20-30% of his account's value on a daily basis, it's only a matter of time.

Truth be told, 5 years of this bull market and the bailout rallies have conditioned nearly everyone that piling in, cannonballing long will get them whole.

Only it was different this time...
 
I couldn't resist.

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quote from Holy Grail:
He reached the dangerous "fuck it" time period where he justifies in his mind that he would rather stay in and lose it all with the hope of minimizing his loss as opposed to taking a 20,000 loss right now and having no hope. I've done that myself in the past but will never EVER do it again. Every dollar you lose during that fuck it period is a difficult dollar to make back. You're better off giving that money to charity, at least you'll feel better about yourself.
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Well put HG. Been there, done that. Thankfully it was nowhere near his amount. I can't help but feel for the guy and laugh at him at the same time as I relived the emotions he was feeling. A couple of posters here have called the main point in this. He wasn't owning his mistake. The market was f'n him, not "I am wrong". Until he learns that lesson he is doomed.
 
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