What is the worst one day loss you ever had?

Quote from Pabst:

...You guys certainly had a good trade on but as trend followers you had to see it through. I bet more often then not you prospered by holding tight. Just not THAT particular time.......
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Yes, the accounts I managed were up over 180% average for the previous three years so this was a big hit but just part of the game for our style of trend following.

- Curtis
 
I have to say that although it is unfortunate that your losses were so big that day, as an outside observer for whom Market Wizards was one of my major introductions to trading, it is pretty cool in retrospect that if you were going to lose 11MM, at least you got to lose it for Richard Dennis.

Best Regards


Quote from inflector:


All totalled I was down about $11 million on the $20 million account I traded for Richard Dennis overnight. This was essentially my entire years profits which vanished overnight. My cut of the profits was 30% at that point so my personal loss was about $3.3 million.
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Richard dennis is an awesome trader with up and downs like the rest of u. shoot he was even dubbed The Prince of the Pit by the ny times. His impact on the futures markets go to be so great that just the rumor of his presence caused prices to fluctuate. if you did this back in 87, this must have been right when he was losing alot of money for his customers. He ended up losing like 30 million in trading losses before closing down. Didn't he retire from trading in 88 promising to never again trade customer funds? Think he came back like 5 years later stronger than ever with his terend system to identify trading opportunities.
 
Some day in feb 2006. was down $2000 2 mins after I entered a trade...Wanted to short INSM but placed a buy order by mistake. The stock was already up 50% premarket. The price went down some 30% after the open lol. The second I realized the mistake I should have closed the trade and taken a loss. Like a smart ass I was hoping that the price will come back to where I bought. I had to close half of the 40k shares I bought. Luck was on my side later and the price went up some 50% from my buy price....
Long story short...Admit that you screwed up. You won't get screwed up a lot.
 
Great story...a skid mark gone right...

Quote from yoohoo:

A little over $50,000 in 1988, when my broker misheard my order. He and assumed I said F in the ticker symbol when I said S. It was a 2 day trade and when I called next to sell to cover he wanted to know why. I said because I've made a profit. He said, huh? It shows a loss. Then the fur hit the fan. In those days there wasn't a lot of charting software and what there was cost a fortune. I had a Knight Ridder Tradestation that had just hit the market. He had a Reuters terminal with price only. So I'm looking at this chart thinking his Reuters is crap. He's looking at red figures thinking these new charts are not all they're cracked up to be. Then next day he listened to the tape of my order and discovered he had misheard me. He owned up immediately. Was in his office a few days later and he looked awful. It was November and this had cost him his bonus and it looked like his job was on the line too. I was in a good mood, and the money wasn't mine as I was managing a fund. At the time it still felt bad as I expected a profit and suddenly it was a loss. Such confusion hurts. Anyway, I told him to book the trade to me and it saved his job. It was only a small blip on the fund. At X'mas I couldn't carry the cases of wine the office bought me. All's well that ends well. The clients had a good run and the blip was insignificant, and I worked well with the guy so I wanted to preserve the relationship. There's more to life than $$$
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Quote from loik:

$78,359.40 USD and - 82.74 %

I had an unrealized loss of more than 100% during the day.
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April 11th 2006, long, entry at around 12.95.

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I´ve got a pretty aggressive MM approach..

Back in my volatile days in lost nearly 9000$ or 50% of my account in one day. (Was a decent amount for a student at university lol)

Can´t remember the exactly the day,
was trading NQ holding a few shorts overnight when the market gapped and continued to rallye the whole day.

I was in some state of shock, saw my account ticking down 1000$, 2000$,3000$, 4000$....etc. and wasn´t able to pull the trigger.

Funny thing was I ordered a car before that day but surprisingly I had not enough money left to buy it.

I decided to get drunk and rant, cry and blame the market a little bit.

One the next two days I traded like a maniac to recover from my previous losses. Was able to make 8000$ in these 2 days(and paying about 1000$ in comish).


Was a very weird experience. Has also affected my health. Felt like I had passed a marathon and slept 16h in a row after that.
 
During my newbie days prob around 6-8k.

Biggest one day drop 9k, multiple times actually since it's my daily monetary stop limit.

Anek
 
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