you can all laught at me- I BLEW UP

Quote from NY_HOOD:

today i finally blew up or came pretty damn close. some will laugh and some will not care but i am posting for the heck of it anyway. i was up and then gave everything back and then some. why" necause i was up 400 and needed another 600 to pay some bills.its a never ending sage with me and i just don't know if i have the proper discipline to do this. obviously i am extremely upset about my current situation and don't know what the heck to do. i have no other skills(not that i have any trading skills) and i have a family to take care of. i am actually nervous but i have to do something.
i know someone is going to tell me to stop complaining and i fully understand.i'm just venting because some of you may have been in a similar situation and underdtand. anyway,i hope none of you guys get to where i am,its a horrible feeling and none of you deserve it.
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I think that most of us that have been trading for a while have blown up an account or two. It always happens when we can least afford it. Sorry to hear of your misfortune and hopefully when you come back you will have learned something from this.

Good Luck,
Gary
 
One good rule or measure about taking on risk is that you can only take leverage/position size to risk what you can make easily day to day.

If your able to make day to day 1% on your account, you can only risk 1% on your acct, if your risk numbers are higher then what you can pull in, you will be walking 2 steps forward and 3 steps back in trading.
 
Sorry for you guys blow ups. You probably don't want to hear it, but I'm up big time the last several years. I thought I ought to let you know that I think maybe I got your money, you know, with all that zero sum game and shit. I felt that I should get this off my chest; a confession of sorts. Not that I don't want you to keep blowing up. I like the money. I really do. I just felt kind of bad about taking y'alls green. Well, not too bad...You know what I mean. Peace. :)
 
Quote from stupididiot:

Sorry for you guys blow ups. You probably don't want to hear it, but I'm up big time the last several years. I thought I ought to let you know that I think maybe I got your money, you know, with all that zero sum game and shit. I felt that I should get this off my chest; a confession of sorts. Not that I don't want you to keep blowing up. I like the money. I really do. I just felt kind of bad about taking y'alls green. Well, not too bad...You know what I mean. Peace. :)
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You shouldn't kick a man when he's down like that. Everyone has their ups and downs.
 
its a bad situation. you guys mention "dark and lonely". you're not kidding. again,don't want to come across as a complainer i am just venting because who else would understand? only those that trade do. its going to be a long weekend,perhaps thats a good thing,get my head straight. have to go to a get together tomorrow and i don't know how i'm gonna do that.
 
Quote from NY_HOOD:

its a bad situation. you guys mention "dark and lonely". you're not kidding. again,don't want to come across as a complainer i am just venting because who else would understand? only those that trade do. its going to be a long weekend,perhaps thats a good thing,get my head straight. have to go to a get together tomorrow and i don't know how i'm gonna do that.
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you should keep a journal of all your trades, and understand what led you to this point, and avoid it.

draw up a set of rules for intraday setups in terms of probability:

1) 60 minute trend
2) News vector trend
3) correlations with other markets
4) above or below open
5) moving averages above or below
6) direction of moving averages
7) news report (trending tendency or not)
8) yesterdays high or low violation (range extension)
9) make a note of weekly high or low month high or low
(those are inefficiency zones) coast to coast targets, at failure of one or resistance of one.
10) gut check (instinct is trade a winner or looser after placed. usually trades placed at the weekly high or daily high or low, if they arent winners from the start, probability is they wont be.
 
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