Video of a trader blow up Today, NSFW lol

I feel for the guy. That sucks. Not funny at all. I kinda knew that is what people go through when they lose accounts, but have never seen it. It was disturbing to me. Was a good video to watch, though. Important to see.

As for the hedging, I'll take a stab at it: this guy is clearly not ready to get out of his trade, right? Why not hedge? Then, he can see he's making money on one side, and losing on the other. Then, he can close the losing trade a little easier. It's psychological. I could see how it works.

But what I think it really means he's not really ready to trade with real money, because he couldn't chew his leg off to get out of the trap.

And I think you gotta be able to do that. Otherwise, just trade on the sim until it's unemotional, and you have figured out a pattern or something..
 
Quote from Businessman:

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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I've been known to "average" myself into some sticky situations but just the thought of averaging the ER2 makes me break out in a cold sweat. Then take it over a 3 day weekend?:confused: :eek:
 
If he had been successful in recovering from this trade and ended up green, then he really would have only re-enforced his bad behavior and would only end up repeating the same mistakes over and over... it's unfortunate he put himself in this position in the first place, but it's clear, he's not ready for prime time. He has no discipline or self responsibility... he blames his loss on the markets which is total crap. His losses are his and his alone... pro traders eat guys like this for breakfast, lunch and dinner.

If he has an ounce of ownership for his mistake, he'll use this experience to never, ever, ever, ever!!! exceed your pre-defined trading risk and break your trading rules... it's the one thing that separates the pros from the amateurs.
 
Quote from Anekdoten:

This video reveals two things.

1) Why stops are imperative

2) A few assholes on the board.

Anek
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take it easy . hes only on a phoney account on a sim . i did it for real and laughed asshole or not if you cant laugh at yourself for being a total idiot heheehe i remember those days i had to laugh not at him but for reminding me of it . i like some of jefferson krolls utubes also toothless mindless guiltyless jake
 
Quote from Thunderdog:

See my post just preceding yours.

As for having been there, I lost a fair amount of my trading capital a number of years back and I remember what a miserable experience it was for me. No laughter then, and no laughter now. If you had been there, I would have thought you'd at least have a bit of empathy.
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I`m laughing about it today!
 
Well,

Looks like the idea of "EVERY ONE IS A TRADER" has gone out the window.

Retail accounts are being wiped out daily, Margin calls are coming in, soon to be in masses.

Looks like Vegas is over boys. Better brush up the resume or go back to University.
 
And no, i do not know traders that will allow losses to run and run as the individual did. Most traders I know will take the loss, step back and reevaluate. Possibly to reverse direction or to step away for the day.



To act like the trader on the video shows you, sheepole have no business trading markets.
 
What i noticed that differed from his sim trading versus his real trading was that during sim he actually put in physical stops but real trading used no stops. He should go back and look at that because he seemed to have a decent approach when he used the stops (taking small winners, geting out of losers) It sucks to see that though. Fading with YM with 10 contracts in this environment is crazy anyways. But I could definitely take something away from watching this guy.
 
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