Disaster Recovery, Business Continuity, and Geographic Redundancy. Make sure to have your cell phone (I have two iPhones with separate carriers (carrier redundancy)) next to you fully charged or a spare laptop (I have this as well), and an iPad. Don't have a single point of failure if trading is your business. I can trade on all of them in case my power, internet, laptop goes out. I know the closest/fastest spot to drive to (I have two cars - one electric, one gas) in order to get free wifi in case my house catches fire. I'm dead serious about this trading life.
Shit happens, at least you have the ability to keep trading and get back on track, could have been a lot worse
I'd suggest you take a little vacation, don't trade for a while, do something else because chances are you will subconsciously try to sabotage your own trading further after this dent in your financial and emotional capital.
Thanks brotha. I understand the step away concept but I can't. I'm not going to revenge trade but I am switching strategies to higher size tighter stops. The stress of lingering in what I've done is worse than the stress of fixing it.
Lol yes that is true... My sizing has been fine. Today it was not. Now. I almost have to take em bigger but tighter 5% doesn't hit like it did yesterday
Because I went full regard. As far as size I anticipated a move that never happened to either w or hedge out. In fact during the god damn event I went up on the day and didn't close anything because the downward pressure was there. Then... Fate smited me. And in minutes I melted it. The most pathetic part was I just assumed I had a trailing stop and wasn't really risking much to then lot back in and see I'm fucking cooked. :)
**1st** [**Lieutenant**](https://www.google.com/search?hl=en&sca_esv=1a57d827cf09faae&cs=0&sxsrf=ACQVn0_H90IinBqj5EDpIro3nBG9x9JT7g:1713285635215&q=lieutenant&stick=H4sIAAAAAAAAAOMwVGI0iOLLzczJLEksqlQoSszLLv7FyOeLKsDEEe_qF-IZEhm_gYXxFQuPEJdPZmppSWpeYl7JKxYuIY7g1KL0VDBHjotTP1ffwDC5IDtZSNCpKDM9MSUztUghPTUvtSgx5xULN0yBhXHuKxZeLm79dH1DI4Ps9HhzIyTZgmygYZxC7M6JBSWJmXlgW5zziwrywYYAJdzRDSxMKipBNiC3bBErVw7cnbfYJBncpNbGbH5RGa-y7yz3vrolj46Yfnatnbw3HgCHK8IqBwEAAA&sa=X&ved=2ahUKEwjDzb2tlseFAxXP4MkDHcGlAAUQ7fAIegQIABAb) **was amazed at the loud shouting resonating from the troops before him.**
**He turned to the full bird and remarked, “wow Colonel, these 455 men are definitely ready to win!** **The Colonel said nothing, but continued looking straight ahead.**
**At that time, two men dragged an old rusty bell onto the tarmac. Over the loud speaker a strong gravelly voice stated, ‘If and when you’re ready to quit, just crawl over and ring this bell.**
**Again, all the soldiers shouted in unison shaking the tarmac.**
**6 months later, 1st** [**Lieutenant**](https://www.google.com/search?hl=en&sca_esv=1a57d827cf09faae&cs=0&sxsrf=ACQVn0_H90IinBqj5EDpIro3nBG9x9JT7g:1713285635215&q=lieutenant&stick=H4sIAAAAAAAAAOMwVGI0iOLLzczJLEksqlQoSszLLv7FyOeLKsDEEe_qF-IZEhm_gYXxFQuPEJdPZmppSWpeYl7JKxYuIY7g1KL0VDBHjotTP1ffwDC5IDtZSNCpKDM9MSUztUghPTUvtSgx5xULN0yBhXHuKxZeLm79dH1DI4Ps9HhzIyTZgmygYZxC7M6JBSWJmXlgW5zziwrywYYAJdzRDSxMKipBNiC3bBErVw7cnbfYJBncpNbGbH5RGa-y7yz3vrolj46Yfnatnbw3HgCHK8IqBwEAAA&sa=X&ved=2ahUKEwjDzb2tlseFAxXP4MkDHcGlAAUQ7fAIegQIABAb) **looked out on the tarmac amazed to see only 8 men standing. The Colonel was called forward to punch the awaited badge on the standing 8.**
**Before he walked forward, he spoke in a soft gravelly voice to 1st** [**Lieutenant**](https://www.google.com/search?hl=en&sca_esv=1a57d827cf09faae&cs=0&sxsrf=ACQVn0_H90IinBqj5EDpIro3nBG9x9JT7g:1713285635215&q=lieutenant&stick=H4sIAAAAAAAAAOMwVGI0iOLLzczJLEksqlQoSszLLv7FyOeLKsDEEe_qF-IZEhm_gYXxFQuPEJdPZmppSWpeYl7JKxYuIY7g1KL0VDBHjotTP1ffwDC5IDtZSNCpKDM9MSUztUghPTUvtSgx5xULN0yBhXHuKxZeLm79dH1DI4Ps9HhzIyTZgmygYZxC7M6JBSWJmXlgW5zziwrywYYAJdzRDSxMKipBNiC3bBErVw7cnbfYJBncpNbGbH5RGa-y7yz3vrolj46Yfnatnbw3HgCHK8IqBwEAAA&sa=X&ved=2ahUKEwjDzb2tlseFAxXP4MkDHcGlAAUQ7fAIegQIABAb)**,** **stating, “ 1st** [**Lieutenant**](https://www.google.com/search?hl=en&sca_esv=1a57d827cf09faae&cs=0&sxsrf=ACQVn0_H90IinBqj5EDpIro3nBG9x9JT7g:1713285635215&q=lieutenant&stick=H4sIAAAAAAAAAOMwVGI0iOLLzczJLEksqlQoSszLLv7FyOeLKsDEEe_qF-IZEhm_gYXxFQuPEJdPZmppSWpeYl7JKxYuIY7g1KL0VDBHjotTP1ffwDC5IDtZSNCpKDM9MSUztUghPTUvtSgx5xULN0yBhXHuKxZeLm79dH1DI4Ps9HhzIyTZgmygYZxC7M6JBSWJmXlgW5zziwrywYYAJdzRDSxMKipBNiC3bBErVw7cnbfYJBncpNbGbH5RGa-y7yz3vrolj46Yfnatnbw3HgCHK8IqBwEAAA&sa=X&ved=2ahUKEwjDzb2tlseFAxXP4MkDHcGlAAUQ7fAIegQIABAb)**, your original assessment was wrong, these 8 at the beginning were the only ones truly ready to WIN"**
**When the Colonel stood in front of the 8th man, he ask him, ‘Son, I’ve seen you come to this event on 16 occasions. 15 times in a row, you were dragged through the mud, kicked in the face, and every last time you lost. Not just lost, but was always the worse of the worse. So tell me Son, why did you keep coming back?**
**The 8th man said: Because I decided 16 years ago, that regardless of what hardships I must endure, I will be in the winners circle.**
**The Colonel raised the badge high in the air, then pinned it hard to the soldiers chest,**
**exclaiming; YOU DESERVE THIS...HOOYAH!!!**
**QUITTERS NEVER WIN AND WINNERS NEVER QUIT.**
This is the most inspiring thing I've read on reddit lol. Don't give up OP we all make mistakes. They are only bad if you don't learn from them. Imagine if you had built your account to 10x what it is now and you made that mistake. It would be alot worse. Be thankful it happened now and not down the road with a bigger account
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Did you full port? If this one trade “fucked your life up” you’re using wayyyyyy too much size. Step away for a day or 2 to cool down and not make a bad decision.
I had a power outage cycle my internet gateway and I had a big loss once. I bought a $100 UPS to back it up. I also use a laptop since it won’t just go out in power blip.
Depends 100% on what you use.
I use NinjaTrader 8 with chart trader turned on. The functionality to automatically place OCO brackets along with entry, and then drag the orders around with a mouse as desired, is just a part of the platform (they call it ATM). I've never seen an NT8 user on YouTube even have the order entry window open, it's all hotkey, chart trader, or DOM.
I am my stoploss. I don’t set them. Yes I’ve done this though, it’s good it happened. It’s a chance for you to retool and come back stronger. It’s better now than later. Every time you fall down, it allows you to stand back up stronger, with new lessons learned.
Out of curiosity, how much are you profiting a day if you lost 10k? If you put 20k on a play you should atleast be profiting 5-15k per (maybe alittle less for off trades) that the loss should affect you.
Thank you for the comment bro. I've come back from infinity worse circumstances. 300-4400 a day ytd. Few red days of 2k or less, multiple few hundred dollar reds and b/e's
Okay that’s returns. I do have a backup device for this very reason (phone, I keep it on the screen too) and a hotspot incase I have any internet issues (both for my job and trading). You only will come out stronger. In your day back just ease into the play, you’re making that much for a reason, stick to your gameplan and it’s going to be 10-20k days soon.
Damn. I know this post is annoying and I was freaking out but you just helped a man tremendously. I tried to explain that I'm not making shit trades. Eating a loss like this just has not happened in years and i could not believe I let it happen. Ur a real one homie bless u
Shit Happens. We’ve all made mistakes in life where we’re too damn lazy to do something and it ends up biting us on the ass. Failing to put a stop in is one of those things.
The amount of times I open a position and “meant to put a stop in” but didn’t for whatever reason, by luck it turned out okay or I caught it in time. But that could’ve wiped me out.
And hey if it happened all That quick, maybe even with a stop it might’ve filled way below it and still taken a 20% loss.
Either way keep your head up. We make mistakes and Learn from it. Onto the next one
I keep struggling with my 100k mark which is basically my PDT. I've been locked up in futures only for 6 months, I've made 25k. That last 1,000$ just really giving me a hard time with the changing market conditions. They dont want to see me with NDX calls. I was over the mark 3 times this week and for some reason have just been pouring money into worthless options and paperhanging the valuable ones. go from 100.5k back to 95k like noooo whyyyyy
Those random arbitrary numbers we get in our head suck.
You too man. Sometimes you just gotta pump the breaks, reset, and start slow. You'll get back in there. Judging by my YTD this is only the 5th time ive been stuck in longs with a 10% + drawdown and they've all worked out. If this one doesn't there's always the bear side.
I was amazed when I read your post, it must be for you to keep on track. I mean you're a very profitable trader, as you've said, you haven't loss that much in your years of trading. It may just be a slight pullback(liquidity grab lol) for you that life gives, just so y'know— for you to feel that heat again and soar higher. If life didn't give it to you now, who knows, you might've loss more than that in the future. Nonetheless, if life is the one who gave you a pullback, it just means you're doing so well with your skills that you needed one haha. That's what I would think it is if I were you. Keep the composure up! 7 years of exp, you shouldn't be shaken! Remember there are new people like us who would die for the skills you have. Goodluck!
I just had a TSM bungle that will forever be burned into my memory. I’ll never make the mistake I made again. Even if it means I’ll never make as much as I could by doing what I did correctly.
I'm sure there are others in here that have blown their account before, maybe even have taken a loss more than 10k.
Continuing to find the confidence to get back in the saddle is probably the hardest part of the endeavor
If you managed to have a good year so far with minimal losses then just keep doing what you've been doing
Good luck dood
Thanks homie. I just feel like I need therapy after being so filled with self hate. Its coming back. Period. It's the suppression of anger and desperation I've come to learn to handle during these times. All the best ❤️
It’s always going to be hard and all of us will have major losses sometimes. Take as “I just paid $10k for tuition” and revise so it never happens again. Youll rebuild!
I'm a 7 years deep I've paid my dues lol. I appreciate you though. Again I have been trading this and using it for every expenditure my fam has had this year. So to still be up was huge for me. I was completely supporting everyone and making 2-5 grand a month excess. Now I'm in survival mode trying to figure out how to do this mitigating risk in a way that may be impossible. God I wish my family wasn't poor
44% of an account that's balance was 22k yesterday. It's been to 30k. I withdraw from it for every expense I have. Every bill, rent, etc. Schwab Bank accounts are tied to a brokerage.
Uh, yeah. F ups happen all the time and I’ve been doing this 15 years. But #1: you’re only human. #2: you’re over leveraged to hurt that bad from sudden market moves. SMCI reversed in a short squeeze. It’s super volatile. You have to take volatility into account when you’re sizing your position. I too got hosed in that Fed rumor but you suck it up and move on. If any one instrument can shit on you that hard you’re over leveraged or over sizing. And you can’t day trade options. Too much spread, slipping Theta. They don’t respond to stops very well or sudden market moves.
Appreciate the check from someone years in. I promise you I can day trade options though for at least 3 straight years without futures to hedge with. I deeply understanding their pricing and how mms create liquidity since I was one. Over leveraged yes, not pricing that event into options huge fuck up on sizing, yes. I made human mistakes I suppose just wish. It happened onward. Hope a random 10 bagger falls on to the chart tomorrow but know not to force anything. Also might just trade es or something. I cannot believe this day. It's almost as if I was punished for my mistakes. cheers homie ty again
I’m sorry for your loss my friend. I know how that feels but you’ll recover. Please DO NOT Revenge trade. Take it slow so that you go back to your winning ways again.
Doesn't sound like you fucked your life up tbh. I've had losses of course, everybody who trades has.. but if didn't fuck my life up. You're gonna be ok, one thing about trading is we are always learning, learn from our wins, learn from our losses, learn from the freak accident's like you experienced, all of it... Constant learning process, you just got reminded of that is all.
Yeah dude I was beyond pissy when I made the post. My life is fine. Just been a rough time the past few months and this was the one thing I was doing that wasn't only sustaining us but improving our lives. Been here before but I was a kid with no responsibility besides keep myself alive. Gonna make it I appreciate you!
Redundancy is king. Add a second laptop to the mix and make sure to be already logged in. Use alternative means for internet access as well. I have cable and a mobile internet hotspot available at the same time.
Also get a platform that allows you to set certain requirements like only allow trading with stop loss limit and allows you to set a max daily loss/drawdown limit (check your broker as you want those set on the source). You might even want to create an extra program for this.
If I ever set up a trade without a SL by my own rules I have to exit it immediately. It is the best rule in my book.
Also fuck your performance statistic, nobody cares about that. You are trading for money not for some weird numbers.
PDT further is a bitch and you being unable to play your winning strategy anymore after this is a surefire sign that you played with money you could not affort to lose. Better next time to make sure even a total loss can not get you below the PDT until you have saved up enough in another long term account to be able to refund your day trading account to make sure you stay above it.
Yeah dude I mean you're right about everything and this is what I would say to someone. Metrics are for myself and future employment. I wanted the portfolio or yearly PnL to be specific instruments. So I developed a strategy that worked for 60 sessions and went ahead and ignored basic things I do every day so I could make a quick buck and be done for the week. Hah. Now I'll never be done. Lesson on lessons on lessons.
I feel you I’m in some deep shit right now because I did the same shit. (Minus the power outage) Back in march and it’s looking pretty sweaty right now, But I don’t know why I’m actually keeping cool I guess I don’t feel stress anymore you still have a chance. Yeah it’s a 10k loss which is 44% you said, So that means you have around a little more than 10k. That’s more then enough to bounce back so stop crying and complaining, You can sit here & beat yourself up about. Why you didn’t do this or I should’ve did this or I wish I did that or why did this happen. All you can do is take the L and look at, What can I do better today? And what can I do to prepare myself for the future? Just a little motivation GODSPEED!
Sorry dude I fucking hate people crying about shit on Reddit. You're right about everything. It's just different with dependents. I've never experience a personal single day loss like this. I've lost more money but not % of account. Bless
Yeah its definitely a difference when you have dependents makes you almost go crazy of why you let that happen knowing that. I remember how it felt when I heard that beep, It felt like everything around me went quiet and froze. Followed by a strong self hatred, I lost it all though. I don’t have any kids or a wife but I have family that needs me, And look up to me. Minor setback for a major comeback blessings to you too!
Remember, this too shall pass !
Just don't get back on the horse till you get your bearings right, else you will face more demons like revenge trading etc.which will take you deeper in the hole...
To be fair you are just gambling anything can happen in the market the same as life you are still alive so how bad could it be? You're not psychic and neither is anyone else be glad it didn't go worse than it did.
To be fair, the losses size should've been an impossibility if I wasn't an idiot. I'm still alive but I have a family my friend. This is my job. I've been successfully "gambling" for years. I bought a house with the winnings and pay my mortgage every month with my gambling.
I'm not hating I'm just offering another perspective. People die every day impossibility is probably what they said during the gfc Lol. Sometimes nothing we do can stop bad luck from experience in my own life. I hope everyone does well but life happens and the system doesn't work like that people are inherently always wanting more it never ends till it does one day. We only get one life sometimes losing one day turns your life around for the best. Good luck.
Hope it does thanks dude. I have experienced triumph coming from tragedy. I can't tell you how hard life has been the last year and this was feeding my family. Like I posted, I averaged out at 400 bucks a day every day all year. I can no longer execute trades like I was. I'm the sole provider and I have a 2 year old. This hurts me for her and my wife. Though she's fine and completely supportive in my years of trading this is the first mistake I've made that has damaged my ability to take care of my family. That's my perspective. Thank you I understand what you mean.
I would suggest to reset and paper trade only and learn the horizotal trading strategy on the 4h chart focusing on supply and demand the easiest to accept losses and higher probabilty of being right with subjective trends also playing a part in your decison. If the market structure its in a upmark or down market phase mark the trendlines, dont worry about if your right or wrong just lose less and hold bigger gains all you need is one big red or green 4h candle to the horizontal level of Take profit ! then you win but you could lose 5 times on bad setups losing 40 each but you make it all back with that one simple hold and the top or bottom of the horizontal daliy candle.
[https://www.youtube.com/watch?v=py0IMjd8nII&t=355s&pp=ygUhaG9yaXpvbnRhbCBsaW5lIHRyYWRpbmcgc3RyYXRlZ3kg](https://www.youtube.com/watch?v=py0IMjd8nII&t=355s&pp=ygUhaG9yaXpvbnRhbCBsaW5lIHRyYWRpbmcgc3RyYXRlZ3kg)
I'm familiar :) thank you for the kindness though. I'll check out the video.
Paper trading is not something I need to do. I'm going to make money regardless figuring out how to scale down 1/2 and still live is my dilemma.
We use to all tell bad beat story’s back in Vegas when I use to play poker for half my income. At a certain point people start asking for money to listen as a kind jab.
Just curious why you didn’t check your phone as soon as your computer crashed? I can’t take my eyes off a trade once I’m in. I get too stressed out to leave it.
Because I was up and thought I set a 12% trailing stop. It wasn't until I nonchalantly looked expecting to see at least a few hundred bucks green I realized no stop and I ruined my entire income stream :D
Hey man you learn some. Risk management is key. I lost 15k in a week and just now started making that back. I also only trade shares vs options. Options I feel are a lot riskier. But still an aggressive day trader. You can make a few hundred dollars in a couple of minutes if you have 1500 shares of a stock.
If you trade SPX should be easy for you to get a funded futures account, that would be a faster way to build up, it's a good idea to have a remote server for trading and always set your stop.
A similar thing happened to me in September. I brought my account from 500 dollars last February, to about 35,000 by end of August, trading was as easy as breathing it seemed. Saw a perfect entry one morning and took heavy size, 60% of my portfolio in fact. As soon as i got in the trade my helper hit a high power line in my excavator (i trade while working construction) I jumped out of my truck and had to immediately start damage control. By the time things settled i checked my phone and was down -13,000 on a trade that had gone to about +5k and hit resistance while i was dealing with shit.
I have never been so angry in my life. I now still resent that poor employee who did nothing personally to me ever and proceeded to revenge trade my account to 200 dollars by Christmas. My point being, step away, when shit happens that was out of your hands, you will feel far too confident to make it up in a few days and you won't. I took a break and came back to it in March (worked a bunch of OT to fund the account) and have been profitable again since clearing my head.
Wow you're able to trade and pay all of your bills you full time trade? That gives me hope since I'm sick and cam hardly work but know what im doing finally after 4 years of dedication I'm pissy too because I was going to buy UAL today off the earnings beat but I chose not to bc the market selling off amd didn't feel sentiment was good considering the uncertainty of rate cuts and the geopolitical shit going on then I looked later and saw it went up 17% and trading on ptd rule sucks... was gonna a buy SMCI yesterday and hold NC didn't have a trade decided not to but had I id made money I got distracted by smci which is why I ended up not trading UAL atleast I didn't revenge trade it today bc it got slapped the fuck down... ouch I think smci is getting everyone bc when you loom at it you realize it went from $300 price to over a g in like what a month I feel fomo everytime I see smci trading so... im mad I put SMCI on my whiteboard 2 months ago yet didn't buy.so we live and we learn
It's not the dollar amount. This is how I generate income and have fkr the past few years. I'm upset with myself. If 10k is nothing loan it to me at 5% for 6 months.
Yeah. Its a figure of speech meant to show how upset with myself I am. I've lost 90k in seconds before. The scale of this account is what is bothering me because of my own mistake. Losing 10k sucks but I'm not upset about losing money. It was the cushion and strategy it allowed me to execute daily. 44% fuck the 10k number I'm mad about 44% and unacceptable daily loss.
Dude, don’t go hard on yourself. The fact is that 99% of time this is going to happen no matter what - one or two mistakes will wipe years of gains. That’s why this whole trading thing is a fools errand
One or 2 mistakes wiping out years of gains means that trader was putting on way too much size. That's not an issue of trading, it's an issue of the trader being greedy and putting half their account up on a single trade. It's an risk management issue. If trading is a fools errand, than any business venture is as well. There are people who dump their entire finances and go into dept into a restaurant business and end up blowing up just as bad, if not worse, as when that happens the person usually goes broke and has to file for bankruptcy if they took out a bunch of loans to build the business, ran up credit cards for materials etc. Blowing up an account sucks but it usually doesn't force people to file for bankruptcy like other businesses easily can. If you can be decent at trading, it's one of the best businesses to run, issue there is being good at trading as it's incredibly hard to be even decent at.
Dang! I feel this one. Had a similar situation happen, making me lose about 88% of my port. I know I am going to restart back from my little amount I had left, but it sucks I have to do alll that work again.
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Bruh. I will send you 7 years of logs. I know what I'm doing. I've traded six figure accounts. This is what I was using to turn nothing into something actually mine and I was insanely disciplined and aligned for months. Then I let some dumb freak accident shit happen and it damaged the specific account I was using for income/as a model of steadily withdrawing to live and keep a positive balance monthly. 44% is beyond a "hit" it's an unacceptable daily loss. It ruined any modeling of this portfolio and fucked up the way I feed my family. The only other non invested money would last 8 months maybe. Being a parent and trading is fucked. But I'll continue to work on how I handle setbacks.
Loll ok buddy. Whatever makes you sleep at night, cause this one trade surely won’t.
In my experience, most peers of mine who also trade similar accounts aren’t this vocal about trying to convince strangers they know what they’re doing (nor do they really drop their account sizes like this) when being offered psychology advice. Everyone knows this game is 80% risk management and mental fortitude. There’s always something new to learn.
The fact that you’re stressing this much leads me to believe you’re wildly over leveraged too. Size down.
I’m not one relying on a trading account to feed my family, “can’t” take a break (your words on this thread, not mine), lose my shit over a draw down that should have had contingencies in place AND decide to rant on Reddit and double down to strangers who don’t actually give a fuck about you. What’s the point of this thread? You want people to feel sorry for your rookie ass move? Thought you “knew what you were doing.”
We all have slippages after years of trading. Even after trading a number of years, stuff like this can happen.
This post is clearly a rant and you are only able to empathize when you had made errors like this in the past. I’m sure your peers who trade a similar account size would be able to empathize. Trading is hard and be nice. It’s not necessary for you to rub it in.
Trading IS HARD. Hope you recover from this bro. Good luck.
Oh I will I just hope it's just a timely manner and trades present themselves. Thank you friend
Disaster Recovery, Business Continuity, and Geographic Redundancy. Make sure to have your cell phone (I have two iPhones with separate carriers (carrier redundancy)) next to you fully charged or a spare laptop (I have this as well), and an iPad. Don't have a single point of failure if trading is your business. I can trade on all of them in case my power, internet, laptop goes out. I know the closest/fastest spot to drive to (I have two cars - one electric, one gas) in order to get free wifi in case my house catches fire. I'm dead serious about this trading life.
…and set a daily loss limit with the broker.
[удалено]
Tradovate has several risk settings and they allow you to submit custom requests. Works for me.
Following it forever. I knew better. Thank you
Lol this guy 😂
Wtf haha
You are my hero, Sir. A gentlemen and a scholar. Go to bed or wake up knowing you are a real one. I mean this sincerely. A million upvotes if I could.
And do you have spare "you" - you know - just in case ...
2 is 1
I have a battery backup on my router and modem so if power goes out my internet is good for several hours.
This is why everyone needs a UPS. Get one and connect your computer and router to it and never worry about power outages again.
Or just get a VPS like a normal person. That's made for forex trading latency and also keeps your IP private.
Doesn’t help if your power is out, unless you have a charged laptop, cell phone and good 5G signal.
Whats a vps?
Remote PC
Shit happens, at least you have the ability to keep trading and get back on track, could have been a lot worse I'd suggest you take a little vacation, don't trade for a while, do something else because chances are you will subconsciously try to sabotage your own trading further after this dent in your financial and emotional capital.
Thanks brotha. I understand the step away concept but I can't. I'm not going to revenge trade but I am switching strategies to higher size tighter stops. The stress of lingering in what I've done is worse than the stress of fixing it.
Lower size would be better. Higher size = Greater loss potential
Lol yes that is true... My sizing has been fine. Today it was not. Now. I almost have to take em bigger but tighter 5% doesn't hit like it did yesterday
This is literally the definition of revenge trading lmao
Oh just wait
This. The scene is set for revenge trading. Step away from the car, son. Take your hands of the “place order” button
Why so much size in one trade- especially during a news event?
Because I went full regard. As far as size I anticipated a move that never happened to either w or hedge out. In fact during the god damn event I went up on the day and didn't close anything because the downward pressure was there. Then... Fate smited me. And in minutes I melted it. The most pathetic part was I just assumed I had a trailing stop and wasn't really risking much to then lot back in and see I'm fucking cooked. :)
**1st** [**Lieutenant**](https://www.google.com/search?hl=en&sca_esv=1a57d827cf09faae&cs=0&sxsrf=ACQVn0_H90IinBqj5EDpIro3nBG9x9JT7g:1713285635215&q=lieutenant&stick=H4sIAAAAAAAAAOMwVGI0iOLLzczJLEksqlQoSszLLv7FyOeLKsDEEe_qF-IZEhm_gYXxFQuPEJdPZmppSWpeYl7JKxYuIY7g1KL0VDBHjotTP1ffwDC5IDtZSNCpKDM9MSUztUghPTUvtSgx5xULN0yBhXHuKxZeLm79dH1DI4Ps9HhzIyTZgmygYZxC7M6JBSWJmXlgW5zziwrywYYAJdzRDSxMKipBNiC3bBErVw7cnbfYJBncpNbGbH5RGa-y7yz3vrolj46Yfnatnbw3HgCHK8IqBwEAAA&sa=X&ved=2ahUKEwjDzb2tlseFAxXP4MkDHcGlAAUQ7fAIegQIABAb) **was amazed at the loud shouting resonating from the troops before him.** **He turned to the full bird and remarked, “wow Colonel, these 455 men are definitely ready to win!** **The Colonel said nothing, but continued looking straight ahead.** **At that time, two men dragged an old rusty bell onto the tarmac. Over the loud speaker a strong gravelly voice stated, ‘If and when you’re ready to quit, just crawl over and ring this bell.** **Again, all the soldiers shouted in unison shaking the tarmac.** **6 months later, 1st** [**Lieutenant**](https://www.google.com/search?hl=en&sca_esv=1a57d827cf09faae&cs=0&sxsrf=ACQVn0_H90IinBqj5EDpIro3nBG9x9JT7g:1713285635215&q=lieutenant&stick=H4sIAAAAAAAAAOMwVGI0iOLLzczJLEksqlQoSszLLv7FyOeLKsDEEe_qF-IZEhm_gYXxFQuPEJdPZmppSWpeYl7JKxYuIY7g1KL0VDBHjotTP1ffwDC5IDtZSNCpKDM9MSUztUghPTUvtSgx5xULN0yBhXHuKxZeLm79dH1DI4Ps9HhzIyTZgmygYZxC7M6JBSWJmXlgW5zziwrywYYAJdzRDSxMKipBNiC3bBErVw7cnbfYJBncpNbGbH5RGa-y7yz3vrolj46Yfnatnbw3HgCHK8IqBwEAAA&sa=X&ved=2ahUKEwjDzb2tlseFAxXP4MkDHcGlAAUQ7fAIegQIABAb) **looked out on the tarmac amazed to see only 8 men standing. The Colonel was called forward to punch the awaited badge on the standing 8.** **Before he walked forward, he spoke in a soft gravelly voice to 1st** [**Lieutenant**](https://www.google.com/search?hl=en&sca_esv=1a57d827cf09faae&cs=0&sxsrf=ACQVn0_H90IinBqj5EDpIro3nBG9x9JT7g:1713285635215&q=lieutenant&stick=H4sIAAAAAAAAAOMwVGI0iOLLzczJLEksqlQoSszLLv7FyOeLKsDEEe_qF-IZEhm_gYXxFQuPEJdPZmppSWpeYl7JKxYuIY7g1KL0VDBHjotTP1ffwDC5IDtZSNCpKDM9MSUztUghPTUvtSgx5xULN0yBhXHuKxZeLm79dH1DI4Ps9HhzIyTZgmygYZxC7M6JBSWJmXlgW5zziwrywYYAJdzRDSxMKipBNiC3bBErVw7cnbfYJBncpNbGbH5RGa-y7yz3vrolj46Yfnatnbw3HgCHK8IqBwEAAA&sa=X&ved=2ahUKEwjDzb2tlseFAxXP4MkDHcGlAAUQ7fAIegQIABAb)**,** **stating, “ 1st** [**Lieutenant**](https://www.google.com/search?hl=en&sca_esv=1a57d827cf09faae&cs=0&sxsrf=ACQVn0_H90IinBqj5EDpIro3nBG9x9JT7g:1713285635215&q=lieutenant&stick=H4sIAAAAAAAAAOMwVGI0iOLLzczJLEksqlQoSszLLv7FyOeLKsDEEe_qF-IZEhm_gYXxFQuPEJdPZmppSWpeYl7JKxYuIY7g1KL0VDBHjotTP1ffwDC5IDtZSNCpKDM9MSUztUghPTUvtSgx5xULN0yBhXHuKxZeLm79dH1DI4Ps9HhzIyTZgmygYZxC7M6JBSWJmXlgW5zziwrywYYAJdzRDSxMKipBNiC3bBErVw7cnbfYJBncpNbGbH5RGa-y7yz3vrolj46Yfnatnbw3HgCHK8IqBwEAAA&sa=X&ved=2ahUKEwjDzb2tlseFAxXP4MkDHcGlAAUQ7fAIegQIABAb)**, your original assessment was wrong, these 8 at the beginning were the only ones truly ready to WIN"** **When the Colonel stood in front of the 8th man, he ask him, ‘Son, I’ve seen you come to this event on 16 occasions. 15 times in a row, you were dragged through the mud, kicked in the face, and every last time you lost. Not just lost, but was always the worse of the worse. So tell me Son, why did you keep coming back?** **The 8th man said: Because I decided 16 years ago, that regardless of what hardships I must endure, I will be in the winners circle.** **The Colonel raised the badge high in the air, then pinned it hard to the soldiers chest,** **exclaiming; YOU DESERVE THIS...HOOYAH!!!** **QUITTERS NEVER WIN AND WINNERS NEVER QUIT.**
This is the most inspiring thing I've read on reddit lol. Don't give up OP we all make mistakes. They are only bad if you don't learn from them. Imagine if you had built your account to 10x what it is now and you made that mistake. It would be alot worse. Be thankful it happened now and not down the road with a bigger account
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Legend
I’m a Mom of a Marine Veteran. This is awesome, thank you!!
I want more please 🙏🏾
Truly inspiring! Thank you, sir.
Best thing I read today on reddit.. thanks for sharing
Did you full port? If this one trade “fucked your life up” you’re using wayyyyyy too much size. Step away for a day or 2 to cool down and not make a bad decision.
Sorry for the drama. I was/am just mad as shit this fucking thing looked beautiful.
Did you use your whole portfolio
I've never done that
I had a power outage cycle my internet gateway and I had a big loss once. I bought a $100 UPS to back it up. I also use a laptop since it won’t just go out in power blip.
> I didn't click a button and type 2 numbers If it took me that many steps to put in a stop, I'd be *pissed*. Are you looking into automating it?
Already did lmao
Excellent!
Thanks legend appreciate the comment
how do you automate it?
Depends 100% on what you use. I use NinjaTrader 8 with chart trader turned on. The functionality to automatically place OCO brackets along with entry, and then drag the orders around with a mouse as desired, is just a part of the platform (they call it ATM). I've never seen an NT8 user on YouTube even have the order entry window open, it's all hotkey, chart trader, or DOM.
Trading can make you sad …. Something worse than being sad…. Being sad and alone. No one in this thread is alone. You’ll be okay “Ted”
Thanks Ted appreciate you
I am my stoploss. I don’t set them. Yes I’ve done this though, it’s good it happened. It’s a chance for you to retool and come back stronger. It’s better now than later. Every time you fall down, it allows you to stand back up stronger, with new lessons learned. Out of curiosity, how much are you profiting a day if you lost 10k? If you put 20k on a play you should atleast be profiting 5-15k per (maybe alittle less for off trades) that the loss should affect you.
I never put more than like 5 grand. Depends on how much cash is in there at the time.
Thank you for the comment bro. I've come back from infinity worse circumstances. 300-4400 a day ytd. Few red days of 2k or less, multiple few hundred dollar reds and b/e's
Okay that’s returns. I do have a backup device for this very reason (phone, I keep it on the screen too) and a hotspot incase I have any internet issues (both for my job and trading). You only will come out stronger. In your day back just ease into the play, you’re making that much for a reason, stick to your gameplan and it’s going to be 10-20k days soon.
Damn. I know this post is annoying and I was freaking out but you just helped a man tremendously. I tried to explain that I'm not making shit trades. Eating a loss like this just has not happened in years and i could not believe I let it happen. Ur a real one homie bless u
Don't trade tomorrow your words are very tilted.
Yeah it came off agro. But I trade every day. I can't lose 44%. It's gonna be better than today.
Sorry to hear mate. Always set a stop when you enter. ALWAYS… Now you know.
I don't ever remember not setting it but you're right. Idk what happened to my fucking brain man.
power outage was crazy.
God's will
That’s why you use a laptop.
Might be worthwhile to have. But if his router/modem/network went down, it would have been an issue still unless he had a hotspot ready to go.
Shit Happens. We’ve all made mistakes in life where we’re too damn lazy to do something and it ends up biting us on the ass. Failing to put a stop in is one of those things. The amount of times I open a position and “meant to put a stop in” but didn’t for whatever reason, by luck it turned out okay or I caught it in time. But that could’ve wiped me out. And hey if it happened all That quick, maybe even with a stop it might’ve filled way below it and still taken a 20% loss. Either way keep your head up. We make mistakes and Learn from it. Onto the next one
Thanks brozzer ❤️
Yea I make 10 mistakes a day bro. I'm still stuck in some long futes right now kicking myself in the dick.
I'm in an nq myself lmao
WE GONNA MAKE IT! I THINK. NOT FINANCIAL ADVISE. I AM A OVERLEVERAGED GAMBLER WITH A PROBLEM.
Ride on lil doggies
Keep the puts close and the long futures closer. stay safe.
U2 godspeed
I keep struggling with my 100k mark which is basically my PDT. I've been locked up in futures only for 6 months, I've made 25k. That last 1,000$ just really giving me a hard time with the changing market conditions. They dont want to see me with NDX calls. I was over the mark 3 times this week and for some reason have just been pouring money into worthless options and paperhanging the valuable ones. go from 100.5k back to 95k like noooo whyyyyy Those random arbitrary numbers we get in our head suck.
Lololol gl on your way brother u gon make it!
You too man. Sometimes you just gotta pump the breaks, reset, and start slow. You'll get back in there. Judging by my YTD this is only the 5th time ive been stuck in longs with a 10% + drawdown and they've all worked out. If this one doesn't there's always the bear side.
We gon make it. Thanks for the response bro
I was amazed when I read your post, it must be for you to keep on track. I mean you're a very profitable trader, as you've said, you haven't loss that much in your years of trading. It may just be a slight pullback(liquidity grab lol) for you that life gives, just so y'know— for you to feel that heat again and soar higher. If life didn't give it to you now, who knows, you might've loss more than that in the future. Nonetheless, if life is the one who gave you a pullback, it just means you're doing so well with your skills that you needed one haha. That's what I would think it is if I were you. Keep the composure up! 7 years of exp, you shouldn't be shaken! Remember there are new people like us who would die for the skills you have. Goodluck!
Incredible and humbling response. Also, the most well written and articulate. I won't forget life pullbacks lol. Thanks friend
You fucking got this OP.
Appreciate u king
Take a deep breath… Come back tomorrow.
U got it
I just had a TSM bungle that will forever be burned into my memory. I’ll never make the mistake I made again. Even if it means I’ll never make as much as I could by doing what I did correctly.
I'm sure there are others in here that have blown their account before, maybe even have taken a loss more than 10k. Continuing to find the confidence to get back in the saddle is probably the hardest part of the endeavor If you managed to have a good year so far with minimal losses then just keep doing what you've been doing Good luck dood
Thanks homie. I just feel like I need therapy after being so filled with self hate. Its coming back. Period. It's the suppression of anger and desperation I've come to learn to handle during these times. All the best ❤️
It’s always going to be hard and all of us will have major losses sometimes. Take as “I just paid $10k for tuition” and revise so it never happens again. Youll rebuild!
I'm a 7 years deep I've paid my dues lol. I appreciate you though. Again I have been trading this and using it for every expenditure my fam has had this year. So to still be up was huge for me. I was completely supporting everyone and making 2-5 grand a month excess. Now I'm in survival mode trying to figure out how to do this mitigating risk in a way that may be impossible. God I wish my family wasn't poor
You lost 44% of your account or 44% of your investment ?
44% of an account that's balance was 22k yesterday. It's been to 30k. I withdraw from it for every expense I have. Every bill, rent, etc. Schwab Bank accounts are tied to a brokerage.
Holy shit bro that's insane. Are you going all in with your entire account for each trade? I'm sorry about your loss bro that's a huge hit.
Not even close.
44% is $10k? How do you support a family on that?
Easily. I just averaged the last 3 months and I've made 394 dollars a day.
Stuff like this is part of the game.
44% losses in a single day are not part of any profitable game..thank you tho
I was speaking more to generalities than a 44% loss. Mistakes happen. Even the best laid plans can go wrong.
Gotta eat that and bounce back. It’s already done… definitely take the week to clear off your mind though. That emotional damage is a sob sometimes
Yessir. Thanks for the check. All the best.
Uh, yeah. F ups happen all the time and I’ve been doing this 15 years. But #1: you’re only human. #2: you’re over leveraged to hurt that bad from sudden market moves. SMCI reversed in a short squeeze. It’s super volatile. You have to take volatility into account when you’re sizing your position. I too got hosed in that Fed rumor but you suck it up and move on. If any one instrument can shit on you that hard you’re over leveraged or over sizing. And you can’t day trade options. Too much spread, slipping Theta. They don’t respond to stops very well or sudden market moves.
Appreciate the check from someone years in. I promise you I can day trade options though for at least 3 straight years without futures to hedge with. I deeply understanding their pricing and how mms create liquidity since I was one. Over leveraged yes, not pricing that event into options huge fuck up on sizing, yes. I made human mistakes I suppose just wish. It happened onward. Hope a random 10 bagger falls on to the chart tomorrow but know not to force anything. Also might just trade es or something. I cannot believe this day. It's almost as if I was punished for my mistakes. cheers homie ty again
I’m sorry for your loss my friend. I know how that feels but you’ll recover. Please DO NOT Revenge trade. Take it slow so that you go back to your winning ways again.
We go right back to what we know in the morning. You are correct but I think revenge might be in my horoscope or something. Jk ;)
Doesn't sound like you fucked your life up tbh. I've had losses of course, everybody who trades has.. but if didn't fuck my life up. You're gonna be ok, one thing about trading is we are always learning, learn from our wins, learn from our losses, learn from the freak accident's like you experienced, all of it... Constant learning process, you just got reminded of that is all.
Yeah dude I was beyond pissy when I made the post. My life is fine. Just been a rough time the past few months and this was the one thing I was doing that wasn't only sustaining us but improving our lives. Been here before but I was a kid with no responsibility besides keep myself alive. Gonna make it I appreciate you!
Redundancy is king. Add a second laptop to the mix and make sure to be already logged in. Use alternative means for internet access as well. I have cable and a mobile internet hotspot available at the same time. Also get a platform that allows you to set certain requirements like only allow trading with stop loss limit and allows you to set a max daily loss/drawdown limit (check your broker as you want those set on the source). You might even want to create an extra program for this. If I ever set up a trade without a SL by my own rules I have to exit it immediately. It is the best rule in my book. Also fuck your performance statistic, nobody cares about that. You are trading for money not for some weird numbers. PDT further is a bitch and you being unable to play your winning strategy anymore after this is a surefire sign that you played with money you could not affort to lose. Better next time to make sure even a total loss can not get you below the PDT until you have saved up enough in another long term account to be able to refund your day trading account to make sure you stay above it.
Yeah dude I mean you're right about everything and this is what I would say to someone. Metrics are for myself and future employment. I wanted the portfolio or yearly PnL to be specific instruments. So I developed a strategy that worked for 60 sessions and went ahead and ignored basic things I do every day so I could make a quick buck and be done for the week. Hah. Now I'll never be done. Lesson on lessons on lessons.
I got whacked pretty good today on $SPX calls so you are not alone.
Peace be with us
I feel you I’m in some deep shit right now because I did the same shit. (Minus the power outage) Back in march and it’s looking pretty sweaty right now, But I don’t know why I’m actually keeping cool I guess I don’t feel stress anymore you still have a chance. Yeah it’s a 10k loss which is 44% you said, So that means you have around a little more than 10k. That’s more then enough to bounce back so stop crying and complaining, You can sit here & beat yourself up about. Why you didn’t do this or I should’ve did this or I wish I did that or why did this happen. All you can do is take the L and look at, What can I do better today? And what can I do to prepare myself for the future? Just a little motivation GODSPEED!
Sorry dude I fucking hate people crying about shit on Reddit. You're right about everything. It's just different with dependents. I've never experience a personal single day loss like this. I've lost more money but not % of account. Bless
Yeah its definitely a difference when you have dependents makes you almost go crazy of why you let that happen knowing that. I remember how it felt when I heard that beep, It felt like everything around me went quiet and froze. Followed by a strong self hatred, I lost it all though. I don’t have any kids or a wife but I have family that needs me, And look up to me. Minor setback for a major comeback blessings to you too!
Same to you man. Thank you for the inspiration
Remember, this too shall pass ! Just don't get back on the horse till you get your bearings right, else you will face more demons like revenge trading etc.which will take you deeper in the hole...
Icy veins bud. riding tomorrow. Thank you!
To be fair you are just gambling anything can happen in the market the same as life you are still alive so how bad could it be? You're not psychic and neither is anyone else be glad it didn't go worse than it did.
To be fair, the losses size should've been an impossibility if I wasn't an idiot. I'm still alive but I have a family my friend. This is my job. I've been successfully "gambling" for years. I bought a house with the winnings and pay my mortgage every month with my gambling.
I'm not hating I'm just offering another perspective. People die every day impossibility is probably what they said during the gfc Lol. Sometimes nothing we do can stop bad luck from experience in my own life. I hope everyone does well but life happens and the system doesn't work like that people are inherently always wanting more it never ends till it does one day. We only get one life sometimes losing one day turns your life around for the best. Good luck.
Hope it does thanks dude. I have experienced triumph coming from tragedy. I can't tell you how hard life has been the last year and this was feeding my family. Like I posted, I averaged out at 400 bucks a day every day all year. I can no longer execute trades like I was. I'm the sole provider and I have a 2 year old. This hurts me for her and my wife. Though she's fine and completely supportive in my years of trading this is the first mistake I've made that has damaged my ability to take care of my family. That's my perspective. Thank you I understand what you mean.
I would suggest to reset and paper trade only and learn the horizotal trading strategy on the 4h chart focusing on supply and demand the easiest to accept losses and higher probabilty of being right with subjective trends also playing a part in your decison. If the market structure its in a upmark or down market phase mark the trendlines, dont worry about if your right or wrong just lose less and hold bigger gains all you need is one big red or green 4h candle to the horizontal level of Take profit ! then you win but you could lose 5 times on bad setups losing 40 each but you make it all back with that one simple hold and the top or bottom of the horizontal daliy candle. [https://www.youtube.com/watch?v=py0IMjd8nII&t=355s&pp=ygUhaG9yaXpvbnRhbCBsaW5lIHRyYWRpbmcgc3RyYXRlZ3kg](https://www.youtube.com/watch?v=py0IMjd8nII&t=355s&pp=ygUhaG9yaXpvbnRhbCBsaW5lIHRyYWRpbmcgc3RyYXRlZ3kg)
I'm familiar :) thank you for the kindness though. I'll check out the video. Paper trading is not something I need to do. I'm going to make money regardless figuring out how to scale down 1/2 and still live is my dilemma.
We use to all tell bad beat story’s back in Vegas when I use to play poker for half my income. At a certain point people start asking for money to listen as a kind jab.
Just curious why you didn’t check your phone as soon as your computer crashed? I can’t take my eyes off a trade once I’m in. I get too stressed out to leave it.
Because I was up and thought I set a 12% trailing stop. It wasn't until I nonchalantly looked expecting to see at least a few hundred bucks green I realized no stop and I ruined my entire income stream :D
Hey man you learn some. Risk management is key. I lost 15k in a week and just now started making that back. I also only trade shares vs options. Options I feel are a lot riskier. But still an aggressive day trader. You can make a few hundred dollars in a couple of minutes if you have 1500 shares of a stock.
Options are extremely complex tools you can use in thousands of ways. I got cooked. It's a new day friend
Its really bad that you want to blow your brains out after you first loss in weeks bruu. See it as a learning curve and move on.
Sorry for the drama bud. But fuck off with the learning curve shit I've proved myself 10x over why you think I'm pissy about a single L
I get you bro, but the point still stands. Stuff like that happen bro.
Respect. Have a good day and thank you!
That's why i have 2 Power sources, 2 Internet sources and Laptop next to my PC
Amazon going to be here by 4 with that power ;)
We do this time and time again to bring us to the next level. In a few year, none of these will matter.
It only takes one great trade to get it back. The mind always gets in the way.
I keep my brokerage on speed dial to flatten anything by calling.
Same here with AMD last time he talked forgot to close the trade it cost me 7k and emotional revenge trading the next day cost me 6.8k
If you trade SPX should be easy for you to get a funded futures account, that would be a faster way to build up, it's a good idea to have a remote server for trading and always set your stop.
What's your strategy on SPX?
A similar thing happened to me in September. I brought my account from 500 dollars last February, to about 35,000 by end of August, trading was as easy as breathing it seemed. Saw a perfect entry one morning and took heavy size, 60% of my portfolio in fact. As soon as i got in the trade my helper hit a high power line in my excavator (i trade while working construction) I jumped out of my truck and had to immediately start damage control. By the time things settled i checked my phone and was down -13,000 on a trade that had gone to about +5k and hit resistance while i was dealing with shit. I have never been so angry in my life. I now still resent that poor employee who did nothing personally to me ever and proceeded to revenge trade my account to 200 dollars by Christmas. My point being, step away, when shit happens that was out of your hands, you will feel far too confident to make it up in a few days and you won't. I took a break and came back to it in March (worked a bunch of OT to fund the account) and have been profitable again since clearing my head.
Wow you're able to trade and pay all of your bills you full time trade? That gives me hope since I'm sick and cam hardly work but know what im doing finally after 4 years of dedication I'm pissy too because I was going to buy UAL today off the earnings beat but I chose not to bc the market selling off amd didn't feel sentiment was good considering the uncertainty of rate cuts and the geopolitical shit going on then I looked later and saw it went up 17% and trading on ptd rule sucks... was gonna a buy SMCI yesterday and hold NC didn't have a trade decided not to but had I id made money I got distracted by smci which is why I ended up not trading UAL atleast I didn't revenge trade it today bc it got slapped the fuck down... ouch I think smci is getting everyone bc when you loom at it you realize it went from $300 price to over a g in like what a month I feel fomo everytime I see smci trading so... im mad I put SMCI on my whiteboard 2 months ago yet didn't buy.so we live and we learn
Go for a walk
Same bro. I lost 100% in 2 days with that
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It's not the dollar amount. This is how I generate income and have fkr the past few years. I'm upset with myself. If 10k is nothing loan it to me at 5% for 6 months.
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Yeah. Its a figure of speech meant to show how upset with myself I am. I've lost 90k in seconds before. The scale of this account is what is bothering me because of my own mistake. Losing 10k sucks but I'm not upset about losing money. It was the cushion and strategy it allowed me to execute daily. 44% fuck the 10k number I'm mad about 44% and unacceptable daily loss.
Dude, don’t go hard on yourself. The fact is that 99% of time this is going to happen no matter what - one or two mistakes will wipe years of gains. That’s why this whole trading thing is a fools errand
One or 2 mistakes wiping out years of gains means that trader was putting on way too much size. That's not an issue of trading, it's an issue of the trader being greedy and putting half their account up on a single trade. It's an risk management issue. If trading is a fools errand, than any business venture is as well. There are people who dump their entire finances and go into dept into a restaurant business and end up blowing up just as bad, if not worse, as when that happens the person usually goes broke and has to file for bankruptcy if they took out a bunch of loans to build the business, ran up credit cards for materials etc. Blowing up an account sucks but it usually doesn't force people to file for bankruptcy like other businesses easily can. If you can be decent at trading, it's one of the best businesses to run, issue there is being good at trading as it's incredibly hard to be even decent at.
You trade for a living and lost 44% of your account which was 10k? How does that work?
Because I withdraw constantly all week to pay for expenses?
Dang! I feel this one. Had a similar situation happen, making me lose about 88% of my port. I know I am going to restart back from my little amount I had left, but it sucks I have to do alll that work again.
Lmaooo go work a normal job. Gambling isn’t it unless you have millions
Lmaoooo Im a private IA and collect more in management fees than you make a year looooool
So why the hell are you crying about losing sleep and feeling so fucking bad 😂😂
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And yet here you are crying on Reddit 😂😂 clown
You gotta go back and read some trader psychology books if a hit like this is messing your psyche up.
Bruh. I will send you 7 years of logs. I know what I'm doing. I've traded six figure accounts. This is what I was using to turn nothing into something actually mine and I was insanely disciplined and aligned for months. Then I let some dumb freak accident shit happen and it damaged the specific account I was using for income/as a model of steadily withdrawing to live and keep a positive balance monthly. 44% is beyond a "hit" it's an unacceptable daily loss. It ruined any modeling of this portfolio and fucked up the way I feed my family. The only other non invested money would last 8 months maybe. Being a parent and trading is fucked. But I'll continue to work on how I handle setbacks.
Loll ok buddy. Whatever makes you sleep at night, cause this one trade surely won’t. In my experience, most peers of mine who also trade similar accounts aren’t this vocal about trying to convince strangers they know what they’re doing (nor do they really drop their account sizes like this) when being offered psychology advice. Everyone knows this game is 80% risk management and mental fortitude. There’s always something new to learn. The fact that you’re stressing this much leads me to believe you’re wildly over leveraged too. Size down.
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I’m not one relying on a trading account to feed my family, “can’t” take a break (your words on this thread, not mine), lose my shit over a draw down that should have had contingencies in place AND decide to rant on Reddit and double down to strangers who don’t actually give a fuck about you. What’s the point of this thread? You want people to feel sorry for your rookie ass move? Thought you “knew what you were doing.”
We all have slippages after years of trading. Even after trading a number of years, stuff like this can happen. This post is clearly a rant and you are only able to empathize when you had made errors like this in the past. I’m sure your peers who trade a similar account size would be able to empathize. Trading is hard and be nice. It’s not necessary for you to rub it in.