TDs Journal

This is a discussion on TDs Journal within the Trading Journals forums, part of the Reception category; cant believe TD is a mere mortal, just like the rest of us! dont worry, TD. believe it or not, ...

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Old Oct 1, 2008, 9:34pm   #89
 
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cant believe TD is a mere mortal, just like the rest of us!

dont worry, TD. believe it or not, the fact you make mistakes and take losses, and are still in the game, should be far more reassuring to newbies and experienced traders than the ones who swagger onto T2W saying how they are so clever that they never have losses.

I can relate to taking a knock to the confidence. but you just have to keep playing, dont you?
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Old Oct 1, 2008, 10:14pm   #90
 
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I know you like Livermore m8. But you DON'T HAVE to copy him.

There isn't anyone alive who hasn't made stupid mistakes. Traders tend to make a lot more than the average person. Just goes with the territory I guess.

Now put that gun down and get back to it!
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Old Oct 1, 2008, 10:27pm   #91
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I am going to take the contrarian position.

YOU W*&(@R.

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Old Oct 1, 2008, 10:36pm   #92
 
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trader_dante started this thread F off Gecko.

All jokes aside, I got a little bit over confident and the market found me out.

The combination of a big risk, a "spanish stop" and the desire to "come back" was good for a severe beating from the market.

But a healthy dose of humilty is good for all of us, right?
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Thanks! The following members like this post: grimweasel , PitBull
Old Oct 1, 2008, 10:38pm   #93
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"Spanish stop" .......
Your timing is, as usual, impecible....He has just been singing your praises over on his ET thread. "Best trader in the world" no less!

Anyway. Great journal. Just a bumb in the road. Get back on the horse and ill come back and check it again in a few weeks.

good luck.
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Old Oct 1, 2008, 11:43pm   #94
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ouch

sorry to hear that. we've all done it.

i guess you said it all you changed your own rules
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Old Oct 2, 2008, 12:24am   #95
 
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We've all been there. Or are due to.
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Old Oct 2, 2008, 1:42am   #96
 
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Top marks for admitting this Tom. It's reassuring, in a way, to see that a good teacher like yourself ,still has the balls and humility to admit his error on such a public scale. A truly brave move that I think will do you the world of good in the long run. A true example to all on how to deal with the 'curve-balls' that the market randomly delivers from time to time.

If it's any consolation Tom, John Authers in the FT's Short View toady was reporting that event (congress no-vote) as the true 'Black Swan' of this whole crisis so far. No-one saw this rejection coming and it's probability existed outside the scope of the prediction models (Gassuim Bell Curve et al). So, I bet you were not the only big trader to suffer this fate at all. Draw a positive from it; a learning experience. This is how we gain credibility and strength as Traders. Learning about ourselves and our flaws!

Best of British,
Grim
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