Youngtrader's Commodity Journal

Quote from YoungOne:

Sorry about your loss man. It's all good though, tomorrow is a new day.
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Thanks man but traders imo don't deserve sympathy. I made a mistake and I got hit for it.

God I feel like I have aged a ton over these past few weeks. This biz is hard on a guy.

I remember when losing a couple hundred dollars was the end of the world when I was first starting out (3k account mainly trading wheat) but now its grown to losses in the thousands and you learn to cope with it better as time goes on and you get more experience.

But like you said tomorrow is a new day!

Hows life man? Long time no talk! You still trading NQ?
 
Quote from youngtrader:



Ammo I am currently short 10 contracts at an average of 1359.

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That's almost 20:1 leverage. Don't you think this is nuts? Seriously, dial down your risk before you blow up.
 
Quote from youngtrader:

I have to talk about the es even though I don't want to lol! I'm out of the fucking thing at 1370. $5500 loss on the damn thing!

I will look and wait for another opportunity to get short because I still think we test around 1320 before all is said and done.
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It took a lot of guts to take that loss.

Anyone who trades has a lot more respect for you for bitting the bullet. Now if you'll just chill a little on the risk side-o-things (I know it's pretty easy to take big risks when Daddy-O got you covered :D ) there won't really be anything stopping you from tearing the house down!

GL
 
Quote from Cutten:

That's almost 20:1 leverage. Don't you think this is nuts? Seriously, dial down your risk before you blow up.
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I don't know how much leverage it is. My account is around 25K so I figure I can handle 10 contracts. What the hell right lol?
 
Quote from MandelbrotSet:

It took a lot of guts to take that loss.

Anyone who trades has a lot more respect for you for bitting the bullet. Now if you'll just chill a little on the risk side-o-things (I know it's pretty easy to take big risks when Daddy-O got you covered :D ) there won't really be anything stopping you from tearing the house down!

GL
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Daddy-O has never covered me once and knowing him probably never would. If I blew up I know exactly what he would say "get a fucking job and make it back!"

My dad has always taken big risks and being around him for the last 17 years I guess it just kind of gets in your blood. 1 contract isn't enough, then 2 contracts isn't enough, etc.

Thanks for the concern though guys.
 
Quote from youngtrader:

I don't know how much leverage it is. My account is around 25K so I figure I can handle 10 contracts. What the hell right lol?
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5% "max risk" per trade is considered thrill seeking in this game.

Taking a 20% hit is like playing russian roulette.

3% is about as aggressive as you need to be, remeber, you have plenty of time to scale-up.
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We aren't posting out of concern, hell we could care less whether you blowout or not, it's not our money.

We're traders talking trading.

GL
 
Quote from MandelbrotSet:

5% "max risk" per trade is considered thrill seeking in this game.

Taking a 20% hit is like playing russian roulette.

3% is about as aggressive as you need to be, remeber, you have plenty of time to scale-up.
***
We aren't posting out of concern, hell we could care less whether you blowout or not, it's not our money.

We're traders talking trading.

GL
More...


Well then lets leave the risk management to me then huh?
 
Quote from youngtrader:

Thanks man but traders imo don't deserve sympathy. I made a mistake and I got hit for it.

God I feel like I have aged a ton over these past few weeks. This biz is hard on a guy.

I remember when losing a couple hundred dollars was the end of the world when I was first starting out (3k account mainly trading wheat) but now its grown to losses in the thousands and you learn to cope with it better as time goes on and you get more experience.

But like you said tomorrow is a new day!

Hows life man? Long time no talk! You still trading NQ?
More...

Yeah still trading NQ. Went live like 2 weeks ago, so far I'm down a bit. Working on fixing my psychology since I was simming for a while. So whatever happened to your friend and fx? He ever open an account?
 
Yeah he opened up an account with oanda with a 2k account. Was trading eur/usd and yen/usd (something like that)

Sucked that 2k right away from him so fast he didn't even know what happened. So he didn't have the best of luck but he didn't really have the attitude or risk appetite to trade anyway.
 
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