Wednesday, January 23, 2008

300pt rally


Why would you go long,,,
Your an idiot,,,,
Stupid day trader,,,,
The market is going down,,,
Live another day and learn from your mistakes............

31 comments:

Anonymous said...

You are right.

Just happen to be one (or 2) day early.

Press onward, soldier!

da blow up in training said...

You must be a Republican, like Bush: went into Iraq, fucked it up and got re-elected to a second term.

You went into the market, blew up, made a video about it, and now become a minor celebrity due to your fuck-up.

What a great country this is where even failure, properly marketed and presented, can be sold.

And these guys who said they respect you for it, they are idiots. What is there to be respectful about?

It really boils down to one exhibitionist (you) and a bunch of voyeurs with schadenfreude (them).

West Coast Trader on 1:43 PM said...

Lots of hate out there. Just wondering if you answer posts?

Dinosaur Trader on 1:44 PM said...

da blow up,

This blog has been around for 2 years... so it's not just about HPT's blowup.

Most traders suffer through bad days. It doesn't mean they aren't good traders... it means they had a bad day. Good traders learn from their mistakes and move on.

If HPT can learn from his blowup, he'll be a better trader for it. As it stands, he's still up in his account so by no measure could he be considered a failure.

Keep your chin up HPT and keep hitting singles. In time, the doubles, triples and homeruns will come again.

-DT

Anonymous said...

Timing is everything. Market was in a down trend and you tried to fight it on Friday.

I just went long YM at the close at 12270. Why? 1. Strong volume into the close. 2. NQ, YM, ER2, ES, DAX all close at the high. 3. Pent-up bull after many down days.

Even then, my stop is in place in case there is a catastrophe.

Looking for at least 200 more ticks.

Prospectus on 2:11 PM said...

The way most people learn risk management is by not managing risks.

HPT, learn the lesson and move ahead as stronger trader. Just be careful not to forget the lesson! This from someone who has "blown up" 2.5 times as a trader so far. You could have taken your loss off the record, but you posted the video. It's a lesson to anyone who sees it. I think that makes it a valuable gift.

Forget the haters and build your discipline and your account, one trade at a time.

Anonymous said...

ANF is the best stock to buy on dips...free lunch every day..love it!

Hector Rivera on 2:24 PM said...

I feel sorry for what happened, but learn from the mistake. Now you know its better lose 2k then 31k and i know its going to sink in your brain and just the Fear of losing now on will keep up above. So keep your head above and keep doing what you are doing. I know you will be fine and for those haters, please get a trading account, trade and see how you make mistakes and the market slap you in the face...then talk.

Anonymous said...

Easy to say "take a break, walk away, etc" but daytraders know how it is. Like everyone else who's on auto-pilot to wake up and go to your job, this is what a daytrader does. Has nothing to do with addiction or anything. People with godawful 2 hour commutes to go to their sickening desk job every damn day of their lives aren't addicted to it.

Unless a trader is totally liquidated by his/her broker, unless he's got nothing left in the account to trade with, I'm know 90% of traders would be doing the same damn thing: getting right back on the horse. Another 5% might not be laying on trades immediately the next day, but they'd turn on their computers and see what's happening with the markets. The remaining 5% would walk away or take a sustained break, and good for them. Some people have a bad day at the office and take a "leave of absence" too. Ironically, that's actually frowned upon as irresponsible and weak in society. A daytrader shows up to work after taking a horrendous hit, and everyone's ready to strap the guy in a gurney for a prolonged vacation for deep introspection and meditation. Sure, everyone's mental makeup is different, but in this case, I think HPT is doing what the vast majority of us active traders would do.

Anonymous said...

Way to go, HPT!

Smaller size = smaller RISK

I see you mastered that lesson, grasshopper :)

Anonymous said...

It appears to me you're trying to justify the position you took over the weekend. Remember, markets can remain irrational longer than you can remain solvent. If you hadn't closed out your position when the futures were down 600+ YM points, you could have been liquidated and lost even more than 30k! You can't hope and pray that the Fed will come to a rescue like they did on Tuesday morning. That is not trading, that is gambling. Learn to go with the markets, don't fight them, and live to make another trade!

There are plenty of opportunities going forward so you don't need anyones ego getting in the way of a good trading decision. Sometimes the best thing to do is step back and let things go...and take the lose before it morphs into something even worse!

Anonymous said...

From a fellow trader. Stop loss orders are NOT safe in a fast market environment! A stop order becomes a market order when it hits your stop price. If the market is in what's known as a fast market, (which happens very often in futures markets), you can get filled at a much lower/higher price than your stop order price. (Also if the market opens below/above your stop price, you can also get filled at those prices too, which is probably not what you wanted)
I'm a long time futures trader, been doing this for over 7 years now... I was once just like you. My advice is to use options along with your futures positions to limit your risks without limiting your gains. (A known limited loss is always better than an unknown unlimited loss. That's why people buy insurance)

Don't give up, I had to trade for about 4 years before I actually became good enough to do this for a living.

Anonymous said...

Most of you fucking idiots leaving message here have never made a trade, show your face before you criticize and call him a good grasshopper. Fuck all you haters.

Anonymous said...

of course we're not traders. why would we be traders? God, I can't even begin to imagine the survivorship bias in your sport. what credible source still thinks day-trading gives a decent risk-adjusted return?

phil on 4:26 PM said...

I never heard of you before I saw your YouTube beak down on another site.I'm probably about 20 years your senior but got into this game when I was around your age (which I'm guessing is 25). I trade and invest in stocks for my living. But the journey was brutal. In those years (floor trading futures too)I've done exactly what you did -- more than once. Blew a big chunk of $ and lost it. Lost my mind!! That's what futures will do to you. They are poison!

My advice.. Take a break. Find a career for the next ten years where you can sock some money away and get some peace of mind. Enjoy your life man. Don't waste it watching a screen. This will always be here for you. The futures markets are not the path to riches. I think you, and anyone else, are better off focusing on stocks - they are just easier. Period! While working a job continue investing, trading, and learning. Get away from all that technical crap. Understand the fundamentals. TA is Ok for an overview and timing, to a degree, but don't lean on it too heavily.You won't find the answer in Volume analysis -- it's not there. Understand how all the parts move. Focus on proper position sizes. Proper sizing is a big part of doing it right. BTW - $31K isn't that bad. You're not the only one. My friend just told me about some amatuer housewife trader (a Cramer devotee I presume)you took her $1mil account to $300K.Oh yeah, don't follow that guy's advice either - he's very dangerous!

Anonymous said...

95% of day-traders lose money.

Not only is it an information intensive occupation, it's also a lonely, stressful job fighting against institutions with deeper bankrolls and more resources.

Only idiots want to be day traders.

future zombie said...

I bought puts on AAPL and GOOG and made out great. I will probably get some more SPiDeRs tomorrow. Easiest money I ever made. Day trading is easy.

Anonymous said...

i took my account from 30k to 290k last yr, i lost half so far but am pleased to still be up over 400% since I began. Big swings are part of the lifestyle for me now.

the blow up artist said...

Whoever said 'Day trading is easy' is a clueless idiot.

Day trading has to be one of the hardest way to make a living out there.

If it is easy, every1 and their cousin would be doing it.

Kudos to HPT for putting his effort into making the blow up video. Great acting.

Can't wait for your next spectacular blow up.

Keep the sequel coming.

Anonymous said...

Hi HPT,

Congrats on your winnings. Keep it up and you'll be back to your former shape in no time.

See that you have lots of visitors today. Some of the comments are hilarious. It seems that for every + comment, there is a - one. Guess there are some cruel and malicious people out there.
Well, at least it's a balanced representation of the world.

Funny how tragedy brings out the best and the worst of humanity.

future zombie said...

Day trading is too easy. I will write down every trade I make before I make it. I almost never lose. So far I am up almost $200.

future zombie said...

Okay, I will prove it. Tomorrow I will sell JPM and buy BSC. Book it.

January 23, 2008.

Anonymous said...

Daytrading is easy.

I could get anyone with a working eye and a stick taped to their stump up and trading online in a day.

The only hard thing is keeping your sanity for the long haul since it's possible you may put in 100 hours/week and lose money for the week, month, year. Plus, it's very lonely so you'll be flocking to the idiots on CNBC, chatrooms and blogs for cameraderie. Plus, all your family & friends will deem you a loser & societal misfit until proven otherwise (i.e. you're making insane amounts of money).

Anonymous said...

JPM & BSC are trading in lockstep. If JPM is red and BSC green tomorrow, then you may very well be a zombie from the future.

Anonymous said...

You should ask to join CaseyHaterz....a site originally devoted to hatin' on Casey Serin, but has expanded to hate on other market idiots.

sage08 on 7:57 PM said...

I'm a day trader. My daily target is abt 200 per day. I make the target and my pc's off, no fooling around with the market after this.

Bond Trader said...

that was one of the worst trades i have ever seen, dont try to say it would have been a winner if he had held it, thats the dumbsest thing i have ever heard, every trade will eventually be a winner or a loser, also 30grand is not that much money

i have blown up, it will happen again, i thought i was looking at myself watching that video

props for posting it!

Greg on 9:24 PM said...

A hard lesson to watch you learn. I guarantee you will never forget it though, and it will save your bacon in the future. Good lessons are never cheap. Thanks for sharing the video.

Best of luck, you'll be back strong and laugh about it one day.....

Anonymous said...

From past posts, i agree with:
1. futures trading is a lonely profession, but so is poker, etc...it's very boring and a grind when you do it as a business.
2. stocks are easier. who isn't trading futures, because the liquidity is there. you don't need 3000 up, so i would play stocks instead.
3. you won't get rich trading futures. sure, 1/10,000 do, but seriously the FACTS say that you are up less than 10k a year. reality is reality. don't worry, i made less than that, but i don't trade anymore. never had a blow up, just realized i am not that 1.
4. you lost 30k, now made 200. do the math. if you make 200 tomorrow and then lose 200 the next day, you have made less then minimum wage for 3 days. this game is very hard.
5. unless you can get 100k+, i'm not sure you can really make a living doing this. to take 10k to 100k without going nuts over leverage would mean like 100 winning days in a row...OK, i don't know exactly, but i bet it's crazy.
6. Most importantly:

ENJOY YOUR LIFE.

If this is really beating you up, you have nothing to prove. turn off the blog and do something else if you WANT to. you have nothing to prove. i agree, commuting is really LOSING at life to go to a shit job, and i don't call you a loser. you are a winner, whatever you want to call it. who the fuck cares. just do what your gut is really telling you. i have a feeling it says, "fuck this, fuck this, fuck this."

Anonymous said...

Smaller size = smaller risk? Jesus...

The mathematical fact is that the rate of risk behind any given move is *in no way* mitigated by variations in "size" as you call it. The risk is identical either way.

"Less damage" maybe. But definitely not "smaller risk".

No way in hell you people are investors.

zombie admirer said...

Future Zombie,

You are right. Great Call!

JPM did go down

BSC did go up.

Damn! What a prescient call! Can I be your student?

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