Video of a trader blow up Today, NSFW lol

Quote from kinggyppo:

He could have sold the next futures contract.
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I am confused. Why would he want to hedge his position? You know the way to perfectly "hedge" the position that you are getting shafted by? You get out pronto. No need to hedge. I could be wrong, but he could have just exited the position at anytime. It wasn't like the contract he was in was not trading.

Or are you saying it is easier mentally to hedge the position with another position just to make your life more complicated and to give away more in commissions?
 
From the reaction on this thread, it seems like this guy needs to capitalize on all the web traffic going to his blog. Hope he gets a lot of ad-click through revenue to make up some of his losses.
 
That makes me sick. I feel like MY world is ending to. Great public service announcment. I've been trying to trade for a while now, but look at the market like training a wild lion. The most likely outcome is to have your arm ripped of like this guy.

:(
 
Quote from sprstpd:

I am confused. Why would he want to hedge his position? You know the way to perfectly "hedge" the position that you are getting shafted by? You get out pronto. No need to hedge. I could be wrong, but he could have just exited the position at anytime. It wasn't like the contract he was in was not trading.

Or are you saying it is easier mentally to hedge the position with another position just to make your life more complicated and to give away more in commissions?
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Its not my position so I can't really say what he should have done. I find it easier when I get drawdown to stop the bleeding immediately. Also I have no idea why he entered the trade. I mean he thought the market would rebound but what was the uncle point on the trade. 10 er at $10.00 per tick is $100.00 per tick, so ten ticks is a grand. One of the reasons new traders should have simulated accounts is so they learn how to execute trades and realize that poor execution is painful even in the best environment. By execution I mean errrors, slippage, not getting your price, spread, etc. All the screw ups that occur outside of being wrong.
 
Quote from kinggyppo:

Also I have no idea why he entered the trade. I mean he thought the market would rebound but what was the uncle point on the trade. 10 er at $10.00 per tick is $100.00 per tick, so ten ticks is a grand.
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This is what he wrote on his blog:

Quote from that guy

Friday, January 18, 2008
Speculating

Well, I really don't want to talk about today. I thought I was using my stops wisely, but after looking at my P/L, it isn't pretty. I have on a large bet that I'm holding over the weekend. I'm speculating/gambling, call it what you want.
IF things turnout in my favor next week, I'll tell what happened today.
If things turnout for the worst, I will likely go into a raging fit, become depressed, write a post about the death of my account, stop trading, and begin to hate my life.

My goals for tonight are not to review my charts or my screw-ups, because I already know what I did wrong.(I pretty much just starred at my P/L for an hour and was thinking about all the stuff that could happen between now and when the market opens on Tuesday.)

My goal for tonight is to get DRUNK.
Avoid getting a DUI.
Have fun.
And forget about this bad day.

Have a great Weekend.

This is the Classic Club song,
and goes well with my Trading position (DONT STOP BELIEVEN,,,by Journey)

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Posted by HPT at 6:42 PM 0 comments
http://highprobability.blogspot.com/
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He was clearly gambling in order to make up for a bad day. This is the worst type of behaviour a trader could display and it blew up in his face. He didn't even decide to gamble with the trend.
 
You nailed it right on the head. He was going for a Hail Mary pass to make up for not taking the losses on Friday. Desperation lead to Gambling.

Been there, done that :mad:

But can't bring myself to laugh at the guy. It's about as funny as a snuff film.
 
Quote from sprstpd:

From the reaction on this thread, it seems like this guy needs to capitalize on all the web traffic going to his blog. Hope he gets a lot of ad-click through revenue to make up some of his losses.
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So.. how about helping the guy and steer some more traffic over there..
 
Quote from FerdinandAlx:

This is what he wrote on his blog:



He was clearly gambling in order to make up for a bad day. This is the worst type of behaviour a trader could display and it blew up in his face. He didn't even decide to gamble with the trend.
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I think he averaged his ER2 losers on Friday and when he didnt get a chance to get out at Break Even he held over the weekend.
 
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