Video of a trader blow up Today, NSFW lol

MAn.. that is so goddamn funny dude!!

Why?, because we all identify so closely with this guys loss..it is a right of passage to feel that way about some huge losing trade.. if we didnt reach this point at least once you will not have what it takes to hold onto your gains..

This dude has just learned a tough but neccesary lesson.

Laugh at the guy? I fell off my chair recalling the bitterness of loss when in hindsight I was way out of my depth trading multiple lots without any realistic knowledge of Technical or applied fundamental strategies..

(if your not laughing.. you need to lighten up or your taking the loss thing way too seriously and you havnt yet resolved how to lose properly and move on quickly to the next trade imo.)
 
Quote from nkhoi:

force of habit, on his blog he is still long and waits for his broker to liquidate him.
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I think he finally liquidated because he had to go to work. Ended up down around 31k I think.
 
Man, I feel bad for the guy, but where the hell were his stops? How can you just stay in a position that's causing that much pain? Was his sell button jammed?
 
It's not laughing at him per se as it is laughing at yourself that you see in him.

I howled at some of the things he said. Exactly what I said many years ago when that happened to me. In the days before I learned to use money management.
 
Quote from polpolik:

I think he finally liquidated because he had to go to work. Ended up down around 31k I think.
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Yeah he did. He showed his ib realized pnl at -31272.87
 
Quote from jtnet:

we've all been there at one point im sure
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I know I have, I broke a desk top with my fist 5 or 6 years ago. I was out of my chair on the way to the closet to get my Colt .45 so I could execute the computer. (As if that was going to help.)
Only thing that stopped was the thought of the bullet hitting my neighbors house.
 
Quote from themarket:

Man, I feel bad for the guy, but where the hell were his stops? How can you just stay in a position that's causing that much pain? Was his sell button jammed?
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You know, I've acted the way he did before. When u lose so much, you just go "do your worse" to the market - and sure enough, it DOES.
 
Quote from TL Trader:

I know I have, I broke a desk top with my fist 5 or 6 years ago. I was out of my chair on the way to the closet to get my Colt .45 so I could execute the computer. (As if that was going to help.)
Only thing that stopped was the thought of the bullet hitting my neighbors house.
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that'll learn em' . hah. ive almost broken my hand punching things.
 
I have been there more than once. I can't laugh because I
remember how much pain and self loathing I felt at the time.

That is the Market. For every time you win big,
there is someone else committing suicide on the other side.

Although I have to admit long ten ER2 contracts in a crashing
market was a bonehead move. He could have had 100 shares
of IWM and lived to talk about it.

Note to traders: Before trading untested strategies try the
IB simulated trading account feature. You can blow up your account as often as you need until you get it through your head
that overtrading will kill you.

Rule 0:
======
Do not trust the market. The market is you sworn enemy.
The market is a bunch of other people trying to take your money!

Corrollaries to Rule 0:
================
corollary 1: You must have a system you can trust.
corollary 2: You must trust yourself to the follow the system
and to continually develop and refine the system as you learn
more.


Rule 1:
=================
Stay out of the market unless there is a
compelling reason to enter.


Thanks to the trader for sharing with the world his personal failure.
 
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