Hope nobody can relate to this...

[Trader333]

He appears to have taken a Long position based on some idiotic guru who had advised that the market bottom was about to turn.


Paul

 

[Atilla]

He appears to have taken a Long position based on some idiotic guru who had advised that the market bottom was about to turn.


Paul

This guy was going on about traders being scared to go long...

Trading is not about being scared or brave is it?

So he prefers to go long and shows us the world he is not scared and he is the business making all the money. Who gives a toss?

He displays aggression and swearing, continuing to show us that he is not scared. Accompanied with some threatenning behaviour etc etc... Problem here is if his nanny came in and tried to help by closing his position or pulling the lead out to his workstation he is most likely to turn around and hack the little ol lady.

Then he goes psychotic and has a fight with his other stupid self. Telling him self off.

I haven't seen any element of reasoning to base his trades on other than he is not scared to go long. :?:

Probably only benefit of this display is for others to learn how not to trade? :smart:

 

[shadowninja]

Yep, by the way he acts and the words he uses, we can tell he has little discipline. He lets losses run. He predicts the market will pick up again. He swears at the computer. He blames the market. He tempts the market. If he trades tomorrow he will try to "get his own back at the market" and chase it trying to win back his losses. You all know what happens with that style of trading.

 

[laptop1]

Who in their right mind would film themselves in a trade. In the second video he new up to the second when the video wasabout to end. I doubt he would have notice the film was about to finish with that amount of loss showing..High probability he was putting a show on.

If he is for real, blowing his account will will do him good. Most people who end up trading successfully blows an account or two. I have:!:

 

[Atilla]

Who in their right mind would film themselves in a trade. In the second video he new up to the second when the video wasabout to end. I doubt he would have notice the film was about to finish with that amount of loss showing..High probability he was putting a show on.

If he is for real, blowing his account will will do him good. Most people who end up trading successfully blows an account or two. I have:!:

He has my vote for an Oscar nomination...

 

[firewalker99]

Markets in limit down mode... I wonder if that guy still held his position. It's now much further down then in his second video. (DOW was quoted 11815 then, I have 11450 as we speak )

 

[timsk]

Markets in limit down mode... I wonder if that guy still held his position.

It looks like he's out - here's an update:
High Probability Trading
His nick is HPT on this forum.
Tim.

 

[Trader333]

Who in their right mind would film themselves in a trade.

There is a strong view that all publicity is good publicity regardless of how it is achieved.


Paul

 

[black bear]

Hard STOPS are cool

Or . . .

Wall Street's graveyards are filled with men who were right too soon.

-- William Hamilton

Good post db,

Flat at moment (unfortunatly) so allowed to post,

Well heres my own story

I was short the Dow about 13650 ish and the red mist decended

It just took over, the trade was in the money by a bit the day before and I errrrrrrexpected another good day, the Ftse was weak all morning and ............
I really expected another good day

The Dow would just not do as it was told

I just sat there in .......... F..ck no"s what it was......... it was not me for sure that day, but unfortunatly it was

My loss was 3 times usual size, I made it larger because I was right = 1 add higher up just to add insult to injury,

and as per db post=

2 weeks later= 2 bars(method trading at the time) I was over a thousand pts right did I catch the move =

NO, I was still in bits over loss of discipline and the reason for the utter madness of own actions.

DONT DO IT the damage to the brain box is even worse than the financial loss IMO, but then my loss was not anything like the sum in the clip not even close

Good post to timsk, and others

 

[firewalker99]

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.

I've seen loads of posts by traders who claim they are "fundamentally right" but have their timing "slightly" off. Is it any different than having your timing spot on but being fundamentally wrong?

 

[FXSCALPER2]

You know what? This guy is the type who can make loads of money trading. I will not be surprised if he makes it all back and more.

 

[firewalker99]

It looks like he's out - here's an update:
High Probability Trading
His nick is HPT on this forum.
Tim.

"I got out of my long futures position when YM was down 300pts, it is now down 650pts and still going down and the market hasn't even opened for US investors!!"

Yip, looks like he's out... he must know now why it's never too late to cut a losing position.

 

[Cavalry Trader]

Can certainly relate to this guy. - A big lesson learned

Being a relative Newbie (6 months), was taken totally by surprise how quickly and how far markets can move against your position. Always expecting the market to turn around and move in your favour.:-:-0

From being 20% up on my original pot, I am now 80% down.

Have now decided to

a) close everything
b) re-evaluate risks
c) get some proper training and better understanding of what I am doing before venturing into any trades.:smart:

Doesn,t matter how many books you read, I have found that the only way I have learned is through painful experience.

Would appreciate if anyone can recommend some good value training

 

[shadowninja]

Just a related thought... when one finds oneself hoping, it's time to close one's position!

 

[Cavalry Trader]

Just a related thought... when one finds oneself hoping, it's time to close one's position!

Although one of the positions (BG.), that I have just closed out had moved 25 points up in my favour, and I find myself hoping it would continue down to justify my closing.

I can understand the sentiment in the video that the market seems to relentlessly taunt

CT

 

[shadowninja]

I can see what you mean.

 

[dbphoenix]

Although one of the positions (BG.), that I have just closed out had moved 25 points up in my favour, and I find myself hoping it would continue down to justify my closing.

I can understand the sentiment in the video that the market seems to relentlessly taunt

CT

One of the most important errors that traders make with regard to charting -- whether they are fundamental skeptics looking for "proof" or newcomers to charting who are interested in developing and improving their skills -- is dwelling on what happens after the point of action.

Granted, the serious student of markets will want to examine and analyze his trades so that he can improve upon his strategy. But that is not quite what happens in actuality. What happens in actuality is that the trader, at the point where he would ordinarily act or is required to act, thinks not of what is in front of him but of what happened the last time he was in a similar trade. For example, if he sold the last time and watched the stock bounce and resume its advance, he thinks that the same thing may happen this time and holsters his gun, even though his current and applicable strategy tells him that he ought to sell. At that point he's trading not on the basis of strategy but on the basis of hope. Whether the stock does in fact rise or plummets to its daily low is beside the point.

In this regard, whatever happens after the trade is closed is irrelevant. All that is relevant is the strategy, and one must be able to approach the stock fresh as soon as the trade is closed. In order to do that, one must be able to look at what is happening now, not dwell on what happened in the past. Only then can one even consider re-entering a position in a stock which he sold perhaps minutes earlier.

One may make three or more entries in a row that don't work out, but he must be willing to re-enter at the first sign that conditions are right according to his strategy, even if those conditions present themselves almost immediately. That may seem like a lot of in-and-out, but that's trading. If one feels that he is over-trading, he can simply stop and watch, observing the action without emotional entanglement. He may find that he shouldn't be in the market at all.

He may also find that he's just not suited for a timeframe so brief and that he's more suited for a longer timeframe, though the patterns he requires for entry -- such as a base or double bottom -- may not exist in a longer timeframe, just as daily patterns often disappear in a weekly chart.

It all comes back as it always does to keeping it simple and knowing oneself, even if that means knowing oneself only well enough to determine that one doesn't want to mess with any of this. Anyone who doesn't want to make the journey has plenty of funds to choose from.

 

[black bear]

Thanks for that

One of the most important errors that traders make with regard to charting -- whether they are fundamental skeptics looking for "proof" or newcomers to charting who are interested in developing and improving their skills -- is dwelling on what happens after the point of action.

Granted, the serious student of markets will want to examine and analyze his trades so that he can improve upon his strategy. But that is not quite what happens in actuality. What happens in actuality is that the trader, at the point where he would ordinarily act or is required to act, thinks not of what is in front of him but of what happened the last time he was in a similar trade. For example, if he sold the last time and watched the stock bounce and resume its advance, he thinks that the same thing may happen this time and holsters his gun, even though his current and applicable strategy tells him that he ought to sell. At that point he's trading not on the basis of strategy but on the basis of hope. Whether the stock does in fact rise or plummets to its daily low is beside the point.

In this regard, whatever happens after the trade is closed is irrelevant. All that is relevant is the strategy, and one must be able to approach the stock fresh as soon as the trade is closed. In order to do that, one must be able to look at what is happening now, not dwell on what happened in the past. Only then can one even consider re-entering a position in a stock which he sold perhaps minutes earlier.

One may make three or more entries in a row that don't work out, but he must be willing to re-enter at the first sign that conditions are right according to his strategy, even if those conditions present themselves almost immediately. That may seem like a lot of in-and-out, but that's trading. If one feels that he is over-trading, he can simply stop and watch, observing the action without emotional entanglement. He may find that he shouldn't be in the market at all.

He may also find that he's just not suited for a timeframe so brief and that he's more suited for a longer timeframe, though the patterns he requires for entry -- such as a base or double bottom -- may not exist in a longer timeframe, just as daily patterns often disappear in a weekly chart.

It all comes back as it always does to keeping it simple and knowing oneself, even if that means knowing oneself only well enough to determine that one doesn't want to mess with any of this. Anyone who doesn't want to make the journey has plenty of funds to choose from.

db

A real good post IMO

s...t more work to do, so that explains my soft stops I have recently decided not to use anymore.

thanks again

 

[Cavalry Trader]

Thanks db

Having analysed all the trades I closed this morning, it was the right decision, until I am better equipped.

Although I thought I had a good strategy, (good stocks, strong sectors, long term upward trends), I relaxed on the S/L as I didn't want to be taken out by a blip - which now turns out to be more of a huge hole - "what ****** Iceberg"!!!!

CT

 

[firewalker99]

Fed just made a "surprise" rate cut of 0.75 and the market spiked up nearly 400 points

I know one of guy who will be banging his head against the wall... big time...