I thought that it might be interesting to list some all time market horror stories and what we can learn from them:
1) An equity day-trader, back in the 1990's, in Atlanta lost over $400,000 day-trading.
He returned to his day-trading office and killed 4 employees and then his family
and finally himself because he was so distraught about losing the 400K. This story
was all over the news at the time.
2) The story of oil trader Bill Trantel was featured on 48 hours.
Trantell, of Long Island New York, lost all his money in the oil pits and in order to support his lavish lifestyle he robbed 9 banks. He almost got away with it but they traced his DNA on a bank note and sent him to a federal pen for 10 years.
3) The story of how Jesse Livermore ended his life.
I'm sure that there are thousands of these kinds of stories.
Trading is a rough business and you can get killed, literally, if you are not careful.
What is the moral of these stories?
I think that it is: Don't trade unless you have something that works.
What are your thoughts?
1) An equity day-trader, back in the 1990's, in Atlanta lost over $400,000 day-trading.
He returned to his day-trading office and killed 4 employees and then his family
and finally himself because he was so distraught about losing the 400K. This story
was all over the news at the time.
2) The story of oil trader Bill Trantel was featured on 48 hours.
Trantell, of Long Island New York, lost all his money in the oil pits and in order to support his lavish lifestyle he robbed 9 banks. He almost got away with it but they traced his DNA on a bank note and sent him to a federal pen for 10 years.
3) The story of how Jesse Livermore ended his life.
I'm sure that there are thousands of these kinds of stories.
Trading is a rough business and you can get killed, literally, if you are not careful.
What is the moral of these stories?
I think that it is: Don't trade unless you have something that works.
What are your thoughts?
