Hope nobody can relate to this...

Oopsie. $7k down then $26k down! :eek: No stop loss? He doesn't look happy in the second video.

I don't know why he didn't close. If he's trading with that size of money, you'd thought he would have a good level of discipline.

Hope none of you lost due to the falls today.

I wish I was in. Went out.
 
Last edited:
seriously though, how can u be buying and holding after todays disaster, my ladders had practiclly no bids on at some points there wasnt really a market
 
Hmmmn,
Sadly, I can relate to it - been there, bought the T shirt. The bit where he shouts something to the effect of "why don't you drop another 500 points you mother****", yeah, why don't you and really **** me up" sent shivers down my spine. I can remember shouting something along those lines when I had a blow up 5 years or so ago. A bizarre sort of masochistic desire gripped me whereby I dared the market to go even further against me and turn a bad situation (entirely of my own making) into something Nic Leeson couldn't hold a candle to. Okay, I exaggerate a tad, but you get the idea. If I was going to have a blow up, I wanted it to be spectacular and go out in style like Butch Cassidy and the Sundance Kid. Time will tell whether or not I've learned my lesson - sorry, I mean lessons plural. I don't think I could go through that again. The vid' should be required viewing for all newbies and less experienced traders alike.
Tim.
 
He should have gone to specsavers or alternativley to Techncial Trader which GREY1 along with his trading partners been short since first of JAN..

I am surprised at this trader's tools to trade the market ,,, How naive

grey1
 
Last edited:
Lots of stories like this in 2000/01. But people don't learn. People don't change. Which is why technical analysis (basic TA, anyway) is as powerful as it is.
 
black-star said:
Stolen from a ET thread

YouTube - STOCK MARKET D-DAY

YouTube - the stock market ruined my life

I dont have any idea if this is real or not?

Either way its a good lesson...cut ur losses
Click to expand...

Don't know what this guy based his trades on but one day he decides markets going up come what may.

Really found it disturbing. Felt no pity for him.

Sad. Feel sorry for all the people around him who's life he will make hell.

He was using expressions like scared to go long... Plonker.

Then he ignores his signals whilst facing over whelming loss of his savings.

His level of control is the eff word.

I have lost reasonable amount of money but never fell to this ********s level I'm happy to say.

Case of gambling rather than trading if you ask me. His soul doesn't belong to himself. :devilish:
 
Atilla said:
Don't know what this guy based his trades on but one day he decides markets going up come what may.

[...]
Click to expand...

Reminds me of a guy in the DOW thread last year who refused to see how markets could go up and decided they had to go down.

I believe he even said he would take on short positions without stops, because he didn't see any upside potential.

Wait a minute, wasn't that guy... you? :eek:
 
firewalker99 said:
Reminds me of a guy in the DOW thread last year who refused to see how markets could go up and decided they had to go down.

I believe he even said he would take on short positions without stops, because he didn't see any upside potential.

Wait a minute, wasn't that guy... you? :eek:
Click to expand...

Yes it was me. And I made one of my biggest -200 pip loss. Not afraid to declair it either.

No big deal for me Firewalker. My pos size was small. If you also saw me within 5 minutes I was downstairs messing about with my kids which is my source of strength and I am still here.

I think most traders go through it but level of magnitude and intensity obviously varies. I also wasn't effing and fretting and kicking over stools.

No I definately am not that guy on that screen. Quite the opposite. (y)
 
I would like to know why people hold onto something that is losing value. If I buy the yen and it goes down, I damp it pretty much immidiately. My mind can't work out why I should keep on owning the yen in that situation. It really doesn't. I buy it because I expect it to go up. If it is not going up, why would I stay with it? Makes no sense to me. Not even when I first started trading. As a day trader, if I see resistence at 115, for example, and I sell USDJPY and if it then breaches that resistance, I am out. It is completely irrelevant to me what it does after I get out. That guy needs help, the poor sod.
 
Atilla said:
Yes it was me. And I made one of my biggest -200 pip loss. Not afraid to declair it either.

No big deal for me Firewalker. My pos size was small. If you also saw me within 5 minutes I was downstairs messing about with my kids which is my source of strength and I am still here.

I think most traders go through it but level of magnitude and intensity obviously varies. I also wasn't effing and fretting and kicking over stools.

No I definately am not that guy on that screen. Quite the opposite. (y)
Click to expand...

Good to hear so. My remark was tongue in cheek...
 
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Ohhhhh reminds me of time i got whopped when i couldnt get a fill before fri close long naz back in the day! BE had turned into -£3000 by monday morning. At the time it was enough to make me physically vomit!

All i can say is! Thatll FKN learn ya!
 
timsk said:
Hmmmn,
Sadly, I can relate to it - been there, bought the T shirt. The bit where he shouts something to the effect of "why don't you drop another 500 points you mother****", yeah, why don't you and really **** me up" sent shivers down my spine. I can remember shouting something along those lines when I had a blow up 5 years or so ago. A bizarre sort of masochistic desire gripped me whereby I dared the market to go even further against me and turn a bad situation (entirely of my own making) into something Nic Leeson couldn't hold a candle to. Okay, I exaggerate a tad, but you get the idea. If I was going to have a blow up, I wanted it to be spectacular and go out in style like Butch Cassidy and the Sundance Kid. Time will tell whether or not I've learned my lesson - sorry, I mean lessons plural. I don't think I could go through that again. The vid' should be required viewing for all newbies and less experienced traders alike.
Tim.
Click to expand...


LOL. Love this post. having experiencd something similar when i first began trading (much smaller amounts of money though, thank God), i can safely say that you worded it much better than I possibly could.

I do feel for the trader in the video. He was just a rabbit in the headlights. Once you get to a point where the loss is too much to handle (in his case you could argue it was around the 7k mark) its like your common sense just shuts down. I know another trader who finally closed the long position he has been holding for 2 weeks today losing 60% of the profits he's made in the last year.

Tough business. I was short over the weekend :)
(although closed it WAY too early :() Hope you lot faired OK.
 
dbphoenix said:
Because they can't admit to themselves that they are wrong . . .
Click to expand...

I think it is also the fact that a lot of traders close positions for a loss only to see the market then go in the direction they anticipated. This happens a) by chance or b) because they were fundamentally right but their timing was off.

If this happens a few times, a trader will try to hold in a stubborn effort not to be "mocked" by the market again.
 
trader_dante said:
I think it is also the fact that a lot of traders close positions for a loss only to see the market then go in the direction they anticipated. This happens a) by chance or b) because they were fundamentally right but their timing was off.

If this happens a few times, a trader will try to hold in a stubborn effort not to be "mocked" by the market again.
Click to expand...

As John Maynard Keynes said, "The market can stay irrational longer than you can stay solvent."
 
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