Monday, September 10, 2007

DEATH of the ACCOUNT


I was going to my room to try and cry, but, again I couldn't, instead I jumped up and said "fuck, I can't cry, fuck that!"

I've realized what has happened. It is DEATH!

Ever heard of the model of coming to terms with death.
Here it is-
Stage 1: Denial and Isolation
Stage 2: Anger
Stage 3: Bargaining
Stage 4: Depression
Stage5: Acceptance

Break that down into my trading account-
Stage 1- Denial, I didn't just lose 5k, this week
Stage 2- Anger, Dammit, I lost 5k this week again
Stage 3-Bargaining, ok, I'll trade by my rules now
Stage 4-Depression, Shit I lost it completely, I lost 10k
Stage 5-Acceptance, I'm a loser, what the fuck is wrong with me for not realizing that, it only took 20k.

OK, now I must be getting back to my shitty life because I have a lot of shit to do.

14 comments:

Anonymous said...

We all know now that you sold your long position, market will end in green big time.

FX on 2:08 PM said...

I know what you are talking about. Trading would be peace of cake for you if there were no such situations like today. But reality is different. I sympathize with you but have no remedy.

Misery likes company, so I shared today pics of my biggest loss when I read your blog so you can sea moment of my pain.

Anonymous said...

I really enjoyed reading your blog...I was pulling for you every morning, I would check to see how you did. I myself jumped into trading futures, ER2 mostly on the fact that you can make 20% on your money lightning quick, but I blew up my $10k account losing $2,500 in one day was depressing and I isolated myself, and didn't believe it was real, so I know how you feel. Brighten up though, Futures is gut wrenching and not the faint-hearted. That's why I got into options...straddles on earnings play with RIMM, AAPL, BIDU are always a great success with a lot less risk than using stop losses on Futures trading..Bro Love.

Dinosaur Trader on 5:38 PM said...

HPT,

Sorry for the loss.

Take a break and forget about trading for awhile. The market isn't going anywhere, it'll be here for you when you're ready again.

-DT

Anonymous said...

HPT,

you have the knowledge, need discipline.

1. Take a break for few weeks.
2. Keep money just enough to trade only 2 contracts.
3. Add money for one more contract every successful month and take away one when you don't meet your goal.

Persevere and you will prevail.

Finally, if you can lose 20k in a week then there is also a possibility to gain it in a week.

BUT, start small and don't stop trading...

Cheers!

mOOm on 9:24 PM said...

In 2005 I lost $10,000 of my $25k account in one day (shorting HANS when it broke out). I thought trading was all over but I came back and each big loss has been smaller since. I don't know if you should come back to trading or not but as many will post many of us know what it's like, we got through it one way or another. I talked deep into the night with my GF about it, I didn't tell her how much I lost at that time. But it helped a lot.

Anonymous said...

You have to blow out your account to make it as a futures trader. You have to learn discipline the hard way. I did it in 2006. In one trade I lost $8k going long 5 contracts of ER2 and then it tanked the rest of the afternoon. Now I only trade one contract and always have a stop loss in place. I never add to a losing position. It sucked paying the tuition, but the education was worth it.

Regarding going to school to become a nurse - I think it's a great idea. You can choose a field that allows you to have a workweek of three 12 hour days. That would let you have the other days to continue trading until you can do it full time.

I've only been trading futures for 2 years and feel I need many more until I can do it full time. But when you get there the reward is worth it.

best of luck
bt

Anonymous said...

haha owned

Anonymous said...

kill yourself

Anonymous said...

anon 6:28,

Lighten up on HPT, he post his losses which is hard to do. Get some rules in place and follow them. I know you will come back and make it.

President Fox said...

The anonymous morons posting abusive or sarcastic comments are as much a pity as they are a disgrace. Disregard them for the pathetic amoeba that they are.

I'm sorry to hear about the big losses. Take a break from trading. You can learn from this and come back a better trader. If you decide not to bother, so be it - there's more to life than the markets, although I've little doubt that you've the potential to be a fine and consistent trader. Either way, things won't seem so black after a period.
Good luck
PF

Bubs on 9:05 AM said...

Sorry to hear about the loss. The best thing to do is take a break from trading, don't even look at the markets. Once you feel you are ready to return start very small 1 or 2 contracts. The worse thing you can do is try to make back all that money in one week.

Phileo on 5:17 PM said...

Hi HPT,

Sorry to hear about your big loss. It's a tough pill to swallow. I've stopped giving out advice on what you should do, because I have enough problems following my own advice. That said, I think you already have an idea on what you need to do to prevent these big losses. And I believe you have it within you to get over this hump and do what it takes to take your trading to the next level.

High Probability Trader on 9:39 PM said...

Phileo,
That is the best advice yet, Thanks man!

Subscribe via email

Enter your email address:

Delivered by FeedBurner

 

High Probability Trade. Copyright 2008 All Rights Reserved Revolution Two Church theme by Brian Gardner Converted into Blogger Template by Bloganol dot com