or Connect
HotStockMarket › Forums › HSM Stock Forum › Stock Message Boards NYSE, NASDAQ, AMEX › Don't be this guy! Not tomorrow, not ever!
New Posts  All Forums:Forum Nav:

Don't be this guy! Not tomorrow, not ever!

post #1 of 48
Thread Starter 
(No, this isn't me. ) I don't know the story behind these videos, but maybe some of you can learn something from them:

Warning: Strong Language

http://www.youtube.com/watch?v=87OnSTN3SHk

What happens when you don't cut a loser?
http://www.youtube.com/watch?v=rCtQL5b_rCM

No matter what happens tomorrow, don't lose your cool. Stick to your plans and remember what past experiences have taught you.

I don't know what this guy saw in the market on Friday... his screen shows he had 10 ER2 long contracts... WTF?! Over a 3 day weekend? When the market has been how it has? WITHOUT A STOP?!?!?! *goes crosseyed* That is the perfect recipe for disaster! That aside, if he would have just kept his cool, he could have even sold his original 7.5k loss, shorted another 10 contracts, and make back the loss and PLENTY MORE!

Once again people, don't lose your cool and don't get emotional!

Another thing was... he was definitely over-leveraged! See the dangers? Learn from it!
Leverage isn't the problem. Irresponsible use of it created the problem. High leverage + no stop =


PS: I finally checked his blog and he says that he finally sold after the loss amounted to 31,000!
post #2 of 48
OUCH

poor guy.. i feel for him
very entertaining though
post #3 of 48
holy shit, lol, the second video is crazy.

any idea how big his account is? Overleveraged?
post #4 of 48
Thread Starter 
Quote:
Originally Posted by Hyper View Post
holy shit, lol, the second video is crazy.

any idea how big his account is? Overleveraged?
I can only assume he blew a big portion of his account (if not all of it... or... *gulp* could possibly OWE money) because he says in the second video something like "well there goes my entire life savings"... followed by the F-bomb.

I had a lot of laughing smilies up there, but I do feel bad for the guy. He just seems more like a gambler than a trader to me. His blog says he's been doing this for 2.5 years.... well we've been in a bull market for the last few years... anybody can make money then. The real test is what happens to everybody now. This is where the real traders are separated from those who thought they were.

Risk management people, let's see some!
post #5 of 48
I was laughing at the second video, also feel very bad for him. It's way to difficult to control emotions when you lose that much money in just a day. In his blog he also stated that he had to go to work in two hours once he sold his position. Probably the most down-in-the-doldrums work day ever he will ever encounter.
post #6 of 48
The second video was hard to watch. First video down 7k next video 25k, what was he thinking. I feel bad but wtf!
post #7 of 48
Carnage. Gusty play, to put it nicely, complete idiot is another way.

Edit: Watched second video: Yeah, I feel sorry for him too. It's like gambling always have a stop loss, have a way out.
post #8 of 48
Everybody has to pay tuition sooner or later.

If it went his way (the trade) he would have not graduated, he would have gotten stupider, instead of learning.
post #9 of 48
damn im scared for my investment
post #10 of 48
http://highprobability.blogspot.com/

There's his blog if yall wanna read. Not really a fitting name "high probability" unless he meant the high probability of a blow out using that much leverage with no stop on a 3 day weekend.
post #11 of 48
Thread Starter 
Quote:
Originally Posted by mcichocki View Post
Not really a fitting name "high probability" unless he meant the high probability of a blow out using that much leverage with no stop on a 3 day weekend.
post #12 of 48
I had to keep the volume down, (people in the room) but after i was able really listen to it, I notice he was cordial enough to congratulate the people who were short.

This will be play over and over and over tomorrow not only in his head but many more.
post #13 of 48
The guy has been trading for 2+ years and entered a trade like this over a weekend...with no stop? Man o' man. An event like this will definitely change a person. Hopefully he doesn't injure himself.
post #14 of 48
This viseo was posted In Aug.

http://www.youtube.com/watch?v=aUDsk...eature=related

the second video is Cramer happy over a 1/2 point a month later.

http://www.youtube.com/watch?v=pfV8P...eature=related

I heard the guy saying something about , "ya the market is going up, it's going to bounce" he was saying that is what he heard, sound familiar?

You can go to CNBC any day after the market drops triple digits and Mark Haines will say "futures up 50 we are going up", then he goes home and the market tanks, next day, nothing.

This goes on every day, it is like a new years celebration if the market closes up, and yes Maria plays that game in the afternoon.

Bloomberg, you get serious facts and no icing on the cake.

They never make statements like that
post #15 of 48
Thread Starter 
Here is his blog post for the entry of the position:
http://highprobability.blogspot.com/...eculating.html


Well, I really don't want to talk about today. I thought I was using my stops wisely, but after looking at my P/L, it isn't pretty. I have on a large bet that I'm holding over the weekend. I'm speculating/gambling, call it what you want.
IF things turnout in my favor next week, I'll tell what happened today.
If things turnout for the worst, I will likely go into a raging fit, become depressed, write a post about the death of my account, stop trading, and begin to hate my life.

My goals for tonight are not to review my charts or my screw-ups, because I already know what I did wrong.(I pretty much just starred at my P/L for an hour and was thinking about all the stuff that could happen between now and when the market opens on Tuesday.)

My goal for tonight is to get DRUNK.
Avoid getting a DUI.
Have fun.
And forget about this bad day.

Have a great Weekend.

This is the Classic Club song,
and goes well with my Trading position (DONT STOP BELIEVEN,,,by Journey)




Talk about someone who wanted to fail...
post #16 of 48
ya, I go to bloomberg for a lot of my info now. There is a ton less spin. Straight news and I can make my own decision.
post #17 of 48
Quote:
Originally Posted by Hyper View Post
ya, I go to bloomberg for a lot of my info now. There is a ton less spin. Straight news and I can make my own decision.
Here is the stuff I'm talking about, do you think the floor manipulates the public, 3:20 into the video he makes reference to Robert Pisani
and he refers to him again 4:56
and CNBC later.
That is the real spin,

http://www.youtube.com/watch?v=GOGLvxqAk4A
post #18 of 48
Wow...this was hilarious...but also really sad.

I feel for the guy..but really--if you have such a devestating loss--you get out of it...sitting and cussing out the market won't make it feel your pain and it won't make it suddenly stop and reverse..the only thing that can change your situation is you.. The market has no emotion for whom it makes rich or whom it makes poor...

-w
post #19 of 48
Good videos Jonathan thanks for sharing. I do feel bad for the guy but in the game you cant feel sorry for anyone.

7K in a blink not good.
post #20 of 48
Quote:
Originally Posted by bigbull View Post

7K in a blink not good.
He ended up selling for a $31k loss.
New Posts  All Forums:Forum Nav:
  Return Home
HotStockMarket › Forums › HSM Stock Forum › Stock Message Boards NYSE, NASDAQ, AMEX › Don't be this guy! Not tomorrow, not ever!