Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

Hlm

The reality of not taking stops

Recommended Posts

Apparently this individual went long 10 ER2 contracts at the close on Friday. For any new traders out there, this is an excellent example of what NOT to do. Yes, to the outsider looking in it appears so obvious that it was a stupid decision. However, without a solid system that includes stops (and discipline to take them) it’s very easy to find yourself in a similar situation.

 

Blog: http://highprobability.blogspot.com/

 

Blowup Video: http://www.youtube.com/watch?v=rCtQL5b_rCM

 

In one of his other videos he gets a sell signal when he is down approximately $7,500. Hindsight is going to haunt this trader for a long time.

Share this post


Link to post
Share on other sites

He had one blow up day shortly before that one and his biggest ever day followed it. That's when I though he was getting careless although, saying that in hindsight is easy and I refrained from leaving such a comment on his blog.

 

I dunno what got into him that day, he used to racks up some nice profits all the time.

 

Hope he'll get it back.

Edited by Sparrow

Share this post


Link to post
Share on other sites

I feel for the guy, who would have thought we would sell off that much...Gotta take the lesson and move forward.

 

I had to lol at this though...

 

"....While searching for random links with the search term "I HATE MY LIFE" and "I SUCK AT TRADING" I found an interesting website which showed what people want most out of life."

 

that's pretty funny :o

 

P.S

 

Shouldn't that last video be entitled "The *Futures* Market ruined my life?

Share this post


Link to post
Share on other sites

Those of you who were in the chat with me last week watched me take a 100ym loss in 15 minutes. Kind of sucks when the market opens below your stop. Goes to show, unless you can afford the draw down and have proper risk management don't hold anything over night in this type of a market.

Share this post


Link to post
Share on other sites
Those of you who were in the chat with me last week watched me take a 100ym loss in 15 minutes. Kind of sucks when the market opens below your stop. Goes to show, unless you can afford the draw down and have proper risk management don't hold anything over night in this type of a market.

 

I have talked to several fund managers and head of trading for investment banks. They have told me that in Japan at least many hedge funds are going flat at the close because they are getting killed holding overnight positions.

Share this post


Link to post
Share on other sites

These are days that remind me why I stopped holding overnight positions. This is also the reason I stopped trading stocks or overnight holds, but weekends are even worst. But 10 contracts, what was his total equity? 100K? That should have been the minimum had he understood and used risk management rules. He may not have seemed like a newbie but he did make a newbie mistake: overloaded his position size.

Share this post


Link to post
Share on other sites
These are days that remind me why I stopped holding overnight positions. This is also the reason I stopped trading stocks or overnight holds, but weekends are even worst. But 10 contracts, what was his total equity? 100K? That should have been the minimum had he understood and used risk management rules. He may not have seemed like a newbie but he did make a newbie mistake: overloaded his position size.

 

I've seen/heard plenty of people who start with a small amount of capital and look like trading Gods because they make a ton of money in a short amount of time. Then it ALWAYS takes one single trade and their entire account gets blown out.

 

I'm sure there were several people in the same boat as him. For some reason leverage attracts idiots.

Share this post


Link to post
Share on other sites

Greed is behind the reason he had a following, tons of money streaming with little capital to start with. Easy money, people just love short cuts... well they do get cut short. But I think that's how everyone get started in this business, I myself included. The lure of easy money. Once it gets going, it's hard to put down. The reality just hits one day and they have to make a choice: stick with it and go the long route without cutting corners or quit. Most just come back and try again with the same idea, quick easy money, then get blown again. Others just dig in and get determined not to be defeated and determined to become successful.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Topics

  • Posts

    • Back in the early 2000s, Netflix mailed DVDs to subscribers.   It wasn’t sexy—but it was smart. No late fees. No driving to Blockbuster.   People subscribed because they were lazy. Investors bought the stock because they realized everyone else is lazy too.   Those who saw the future in that red envelope? They could’ve caught a 10,000%+ move.   Another story…   Back in the mid-2000s, Amazon launched Prime.   It wasn’t flashy—but it was fast.   Free two-day shipping. No minimums. No hassle.   People subscribed because they were impatient. Investors bought the stock because they realized everyone hates waiting.   Those who saw the future in that speedy little yellow button? They could’ve caught another 10,000%+ move.   Finally…   Back in 2011, Bitcoin was trading under $10.   It wasn’t regulated—but it worked.   No bank. No middleman. Just wallet to wallet.   People used it to send money. Investors bought it because they saw the potential.   Those who saw something glimmering in that strange orange coin? They could’ve caught a 100,000%+ move.   The people who made those calls weren’t fortune tellers. They just noticed something simple before others did.   A better way. A quiet shift. A small edge. An asymmetric bet.   The red envelope fixed late fees. The yellow button fixed waiting. The orange coin gave billions a choice.   Of course, these types of gains are rare. And they happen only once in a blue moon. That’s exactly why it’s important to notice when the conditions start to look familiar.   Not after the move. Not once it's on CNBC. But in the quiet build-up— before the surface breaks.   Enter the Blue Button Please read more here: https://altucherconfidential.com/posts/netflix-amazon-bitcoin-blue  Profits from free accurate cryptos signals: https://www.predictmag.com/ 
    • What These Attacks Look Like There are several ways you could get hacked. And the threats compound by the day.   Here’s a quick rundown:   Phishing: Fake emails from your “bank.” Click the link, give your password—game over.   Ransomware: Malware that locks your files and demands crypto. Pay up, or it’s gone.   DDoS: Overwhelm a website with traffic until it crashes. Like 10,000 bots blocking the door. Often used by nations.   Man-in-the-Middle: Hackers intercept your messages on public WiFi and read or change them.   Social Engineering: Hackers pose as IT or drop infected USB drives labeled “Payroll.”   You don’t need to be “important” to be a target.   You just need to be online.   What You Can Do (Without Buying a Bunker) You don’t have to be tech-savvy.   You just need to stop being low-hanging fruit.   Here’s how:   Use a YubiKey (physical passkey device) or Authenticator app – Ditch text message 2FA. SIM swaps are real. Hackers often have people on the inside at telecom companies.   Use a password manager (with Yubikey) – One unique password per account. Stop using your dog’s name.   Update your devices – Those annoying updates patch real security holes. Use them.   Back up your files – If ransomware hits, you don’t want your important documents held hostage.   Avoid public WiFi for sensitive stuff – Or use a VPN.   Think before you click – Emails that feel “urgent” are often fake. Go to the websites manually for confirmation.   Consider Starlink in case the internet goes down – I think it’s time for me to make the leap. Don’t Panic. Prepare. (Then Invest.)   I spent an hour in that basement bar reading about cyberattacks—and watching real-world systems fall apart like dominos.   The internet going down used to be an inconvenience. Now, it’s a warning.   Cyberwar isn’t coming. It’s here.   And the next time your internet goes out, it might not just be your router.   Don’t panic. Prepare.   And maybe keep a backup plan in your back pocket. Like a local basement bar with good bourbon—and working WiFi.   As usual, we’re on the lookout for more opportunities in cybersecurity. Stay tuned.   Author: Chris Campbell (AltucherConfidential) Profits from free accurate cryptos signals: https://www.predictmag.com/   
    • DUMBSHELL:  re the automation of corruption ---  200,000 "Science Papers" in academic journal database PubMed may have been AI-generated with errors, hallucinations and false sourcing 
    • Does any crypto exchanges get banned in your country? How's about other as Bybit, Kraken, MEXC, OKX?
    • Does any crypto exchanges get banned in your country? How's about other as Bybit, Kraken, MEXC, OKX?
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.