Trading for next months rent (true story)

[Adamus]

Re: It's all academic...

Just when I think things can't get any worse...

Well you know that trade I got stopped out on?

I forgot I left the target TP in. So woke up this morning to find half my account had evaporated.

Hmmm... I now am fully-convinced I am self-sabotaging. I had thoughts about it before - but I think this confirms it.

yeah well black swans are worry enough without creating them for yourself!

i bet that made you feel good, in a pit of the stomach kind of way - NOT!

IB TWS lets you do bracketed orders where only one is executed, i.e. your stop loss would have been executed and the target cancelled.

There's an order type called OCO or 'one cancels other' that you could use too, if your trading platform allows it.

 

[Timebomb]

Re: It's all academic...

yeah well black swans are worry enough without creating them for yourself!

i bet that made you feel good, in a pit of the stomach kind of way - NOT!

IB TWS lets you do bracketed orders where only one is executed, i.e. your stop loss would have been executed and the target cancelled.

There's an order type called OCO or 'one cancels other' that you could use too, if your trading platform allows it.

Cheers Adamus.

Out of interest. I felt barely any emotional reaction to seeing it. Not saying that with an air of bravado - just fact.

The amount of sh*t I've gone through in the last few years of learning to trade... I'm pretty jaded now... takes a lot to get some sort of reaction out of me... and a very large fat-finger (fat-head really) barely even cuts it.

Actually, this may be a bad sign - kind of like when you stop feeling the cold when you get hypothermia and your toes are just about to fall off! lol

 

[donaldduke]

TB,

It's time to take a break.. at least 6 months out of the market to clear your head..

You are right about the self sabotage, your subconscious mind wants you to stop trading, and it will wipe out your account to get what it wants..

 

[Timebomb]

TB,

It's time to take a break.. at least 6 months out of the market to clear your head..

You are right about the self sabotage, your subconscious mind wants you to stop trading, and it will wipe out your account to get what it wants..

Cheers DD.

I think you could be right. I know that you know what you're talking about.

Just assessed the damage. 56% of account gone on that little adventure.

Funny thing is... I like me. Well, at least I think I do. Why the hell would I want to not make myself do well?? wtf?!


TB

 

[Timebomb]

...been thinking about the self-sabotage thing.

Perhaps there is a certain level of [emotional/psychological] pain that my brain struggles on a day-to-day basis while trading and losing trades. I may feel fine, but am perhaps struggling more than I realise. Maybe my mind is trying to have me trade badly enough that I stop trading altogether...

...but then that begs the question: if my brain can assure that I self-sabotage enough that I keep losing (and it's not just on spreads/commissions) then surely there must be some part of me that knows about trading and can assure my failure (then why can't it assure my success - curious!)?

 

[Masquerade]

The self sabotage argument sounds a bit ludicrous to me. I just don't get how you leave an order in, wouldn't you check these things and look at your account over the day? I pretty much know what's going on with my account all the time.

 

[Timebomb]

Sounds a bit ludicrous to me too... but I'm open to anything and everything to explain things.

But yeah, just forgot... in the same way that one might forget to lock their car, or leave a cupboard-door open and hit their head, that kinda thing.

 

[Splitlink]

...been thinking about the self-sabotage thing.

Perhaps there is a certain level of [emotional/psychological] pain that my brain struggles on a day-to-day basis while trading and losing trades. I may feel fine, but am perhaps struggling more than I realise. Maybe my mind is trying to have me trade badly enough that I stop trading altogether...

...but then that begs the question: if my brain can assure that I self-sabotage enough that I keep losing (and it's not just on spreads/commissions) then surely there must be some part of me that knows about trading and can assure my failure (then why can't it assure my success - curious!)?

It is so easy to lose money in trading that you do not have to think about it. Believe me, because you lose money all the time is no reason to believe that you know somthing about it.

 

[Adamus]

So what's your next trade going be?

No disrespect intended but this thread has got entertainment value.

 

[Black Swan]

The self sabotage argument sounds a bit ludicrous to me. I just don't get how you leave an order in, wouldn't you check these things and look at your account over the day? I pretty much know what's going on with my account all the time.

I've generally got a rough Idea and obviously can look at my P&Ls but tbh I just tend to crack on with it...

Can't for the life of me understand why folks don't use alerts though - either screaming at you through charts or via sms...

 

[Timebomb]

I'm usually very attentive of my trades. Never really had a mistake like this before so not too bothered. Could easy have checked to see the account the same amount in green as it was in red.

 

[Timebomb]

So what's your next trade going be?

No disrespect intended but this thread has got entertainment value.

Probably entertains me more than anyone. lol

 

[Timebomb]

Not seen any potential trades so far... will keep looking... it's going to have to be a fade I think... small stop.

 

[Timebomb]

Plan!

Right, plan is...

Take a currency trade only if I see something that I can't pass on...

...and scalp the ES.

Wish me luck. The account is pretty much on it's knees and begging for mercy.

A little more down in the account and I will be in that very position too.


Timebomb

 

[Timebomb]

Just saved a signature in my profile and seeing if it works...

EDIT: HUZZAH!!!

 

[advfntrader]

TB, you should take a break from trading, demo trade and don't lose anymore. the damage has been done and you will just blow the rest of it if you continue

 

[coopster]

The thread stopped. Did he sell his PC for the rent money? :-0

Bit like selling your car to pay for Petrol! :idea:

Timebomb (if you're still online) - any news?

Coop

 

[shadowninja]

Shame. If he is who I think he is, he's a nice chap. (Not that trading is about who's the nicest but you know what I mean.)

 

[redtag12]

Shame. If he is who I think he is, he's a nice chap. (Not that trading is about who's the nicest but you know what I mean.)

Well almost 2 years on i, wonder where he is? and if his trading survived.

 

[Sir Pond Life Dreg]

He moved to Spain and is selling teh boxes all 89 of them!