Video of a trader blow up Today, NSFW lol

[wareco]

Ironic that his next to the last post here on ET was in the "What was your worst trading mistake poll thread, where he said:

"TOO MUCH LEVERAGE, definitely my vote, which corresponds to having good risk management."

http://www.elitetrader.com/vb/showthread.php?s=&postid=1652787#post1652787

And this one:

http://www.elitetrader.com/vb/showthread.php?s=&postid=1531155#post1531155

 

[Optionpro007]

Quote from Thunderdog:

http://www.elitetrader.com/vb/showthread.php?s=&postid=1757642#post1757642

It not just about losing money, it is 'how' one loses money.

If you are conservative you probably will never be in a situation like that so don't worry.

 

[Optionpro007]

I think Paul Tudor Jones once said or wrote...

'my biggest loses always came after my biggest wins'

can't find the link but it was something like this...probably that is what happened to this guy...

 

[arealpissedgoy]

Quote from joeb8822:

ES is the mini futures contract for the S&P 500
1 point $50 cost about $1000 for intraday margin

ES has a range of 32-40 points a day as of late
It usually has a range of 12-16

lol, welcome to amateur hour. This fellow looks no older than 25 or so. Another teenager teaching others "how to trade".

Why is he even trading today? and where is his stop discipline? and why is he buying long in this market?

There seems to be a ton of teenage types "trading full time" looking for a fast lane to easy riches. Mr. Market says; it's time to go back to school and actually do something that is productive and adds value to society.

 

[Steelhead]

I thought his videos were sad and hope he is ok.

I noticed a few things- His system at -7500 or whatever was telling him to get out ---and he didnt---

secondly he was trading off a scenario he thought up--ok fine but when he sees its not working, why not bail earlier?

he had some serious balls broadcasting that video. But he gave us a gift of a wake up call and I want to thank him for that.

 

[Paulds11]

So funny that video..

and before others pile in I was laughing so hard not at him exactly but because we all identify with his sentiment and feeling..weve all been there... new to the markets and gung-ho without any real idea about stop losses... he was frozen like a Rabbitt in headlamps... yes.. I remember it welll

He has just had a huge wake up call

Long 10 ES contracts??? what was he thinking..

 

[Businessman]

Quote from Steelhead:

I noticed a few things- His system at -7500 or whatever was telling him to get out ---and he didnt---

He didnt even know the futures would be trading today, that kind of thing fucks with your head and tempts to avoid taking your stop, as in your head you start thinking stuff like 'its not a real trading day'.

Respect to the guy for posting the video.

 

[joeb8822]

Quote from arealpissedgoy:

lol, welcome to amateur hour. This fellow looks no older than 25 or so. Another teenager teaching others "how to trade".

Why is he even trading today? and where is his stop discipline? and why is he buying long in this market?

There seems to be a ton of teenage types "trading full time" looking for a fast lane to easy riches. Mr. Market says; it's time to go back to school and actually do something that is productive and adds value to society.

Why are you quoting me??

Someone asked what was the ES

 

[Spectre2007]

I 've been down 7 figures in one day.. not a good feeling.

 

[Tradenaturalgas]

Quote from Steelhead:

But he gave us a gift of a wake up call and I want to thank him for that.

Completley agree with that.... I will watch this video anytime i even THINK of getting reckless