Tuesday, January 22, 2008

Humiliated


The best thing I can do now is try to make my trading blowup go to a good cause.
I support the Christopher Reeves foundation and support stem cell research to find cures for many debilitating diseases that people are living with right now, and also support the Susan G. Komen race for the cure.






My viral video is now deleted from youtube. Apparently I used the F-Word too many times. I had many people quickly make parities of my video, including Tim Knight.(I laughed, but I feel like the biggest loser in the world now and I'm seriously thinking about quiting trading even after making 2k back today). I'm sure its easy to laugh at me now when you have made big gains for being right about your stock trades.



The fact is, the FED had to step into today to save a stock market crash. We are still in a recession, and there is still a lot of uncertainty about where the market is going from here.
I hope some people learn something from my blog. I'm sorry to my family and friends who may have seen my video, and I thank everyone for all the positive words. I hope no one has to go through what I've gone through and I feel the pain for the people that have. Although I feel bad about my loss, I still have a positive outlook on life and I'm still up 8k from where I was a year ago. I could continue to trade, but I will only do so now with a pre-set stop loss for the day. I wish my broker had that feature, as it would have saved me a lot of money. It is my fault for not buying some software that would provide that protection for my account.

I'll be back

50 comments:

Anonymous said...

"fudge", that is hilarious.

Anonymous said...

Maybe you could beeeeep beeeeeeeeeeeeeeep over your swearing in your video and reupload it. I watched it three times. I feel it will help me keep my mental stops in the future. It took me two and a half months to do something about half as devasting to my account Oct - Jan.

Anonymous said...

FUCK! What the FUCK? Who the FUCKING FUCK does that Mr. FUCKING YouTube think that he FUCKING is? It's a FUCKED up FUCKING world that cant take some FUCKING curse words. FUCK it. FUCK we all FUCKING loved watching Mr. FUCKING market teaching you a FUCKING lesson. FUCKING fantastic! Good luck you FUCKING FUCK. Your FUCKING young. Get a FUCKING job. FUCK it I'm outa here.

Tim Knight on 3:47 PM said...

If it makes you feel any better, I lost precisely $31,000 on my NDX calls (yep, calls) that I bought on Friday. So......I think I've paid the Karma gods to have a little fun with this.

Marvinmee on 4:06 PM said...

I saw your video, I wasn't laughing, I felt really bad for you. I think there are many more people pulling for each other to do well trading stocks than there are hoping for people to bomb. Anyone who delights in some one else's misery truly is a sad person themselves. You have the guts to post your losses, in a video none the less, most people will never talk about their losses to anyone but they sure gloat and brag about their wins. It's good to hear that you are still 8k up from a year ago and I'm sure you should be able to recoup and get back. Risk management is number one, I'm sure I don't have to tell you that.

Good luck.

Hichame on 4:08 PM said...

try to post it on dailymotion.. I know it's not something to be proud of but it will help people starting trading or not familiar with that kind of situation. + I think it'll prevent you in the future to lose even more money..

Elementleader said...

Mate,

I know exactly how you feel - precisely one year ago I had the same thing, lost 32.000 EUR within two days, almost wiped out my account with one trade and then doubled the losses with the attempt to gain it back.

I then took a 6 week break from trading and started trading again on March 22nd 2007 and guess what?
My break gave me strenght, power and discipline - I made over 70.000 EUR until June and another 30.000 until December 2007 - all by myself and the lessons learned.

As long as you learn your lesson, the money is not wasted and will come back to you, as soon as you deserve it.

So take care, take a break and clear up your mind, then come back in the ring with new discipline and strategies.

Elementleader(@gmail.com)

Anonymous said...

Dude, in a couple years, you will look back and say, I made it through that. And you will be proud you did. Sure, it's a bit embarassing now, but shit, I had to admit I lost 60K in 2000. To my wife! All is not lost, this too, shall pass.

Anonymous said...

Back during the internet bubble, I KNEW that things were grossly over-valued. I started shorting stocks that had ridiculously spiked, and then took quick profits as the went back down. I made a bunch of money, and I started calculating where I would be financially a short way down the road as I pyramided my winnings. Well, you guessed it...my luck ran out and I hit a stock that I KNEW had to fall - which it did,but not before continuing to spike and taking out my short position. The money, which I could have used to pay off my residence free and clear was instead gone...just like that. I was right, but I couldn't stay solvent long enough to prove it. I went thtough all of the sleeplessness, sick stomach, the shame...the whole thing.

Today, I trade a lot again. But I only take positions in things that I would really want to own if I was stuck with them for a long time, and which I could afford if I really had to own them. It rules out really big scores, but after you have amassed enough of a war chest you can make some pretty good coin. It also lets you sleep at night.

Take some time to decompress from this and then work out a trading game plan that works with your personality AND lets you have relaitve peace of mind. Figure out what your "plan B" would be if your postion goes against you before you ever get into that snakepit in the first place.

Lastly - trust me - a lot more people than you know, or who would admit, have had their butts handed to them by the market. "Those whom the gods would punish, they first make proud"... a good warning to those who trade - and to those who gloat over someone else's misery.

Good luck to you.

Anonymous said...

Holy Fudge! Whatever happened to going flat at the end of each day? Yes, flat is a position too, and a damn important one to have in the arsenal. I've never held an overnight position in futures, let alone a holiday weekend one. Why? Because the overnight, premarket and opening is pure clown time. It's a random coin toss besieged by big money hucksters and market order retail fools creating a bizarro effect. As my mentor told me: "play the gap, don't let the gap play you."

Buzz Saw on 4:28 PM said...

I said try Gambler's Anonymous.

FeirFactor on 4:28 PM said...

Keep your head up Man. It'll take a bit of time but you'll get over this. And if you stick with this trading you'll find that what you just experienced was a PRICELESS EDUCATION. If you can just get through it, you'll be better going forward.

Anonymous said...

hi

you are not the king of Idiot's. I take that crown. I did better than you. I lost 94.6K in 21 days just being long and, I also lost 55K last year May 2007 being short. I should stop trading. but I have delusions of success. that I will make it all back. but I have never been successful. no stops, that is stupid. but I always forget.

bye
the biggest Idiot

Anonymous said...

You are definitely not alone..January 3, 2008 I had 38,989 dollars. One week later I had 17k...Today, I have 11,700....I have been walking around in massive shock and depression. AT least your young and have a job...you WILL recover..

Anonymous said...

i day traded for a few years, and, after all my billions of hours of research i took 20k and turned it into 20k (tons of swings, but never more than 2k in a day). Then i knew in my soul to sell BEFORE a Fed meeting.....but it seemed to risky. I didn't pull the trigger, follow a plan, couldn't judge risk, and stopped trading that day for good after the market fell huge. You have a BIG problem that easily could come back and haunt you in the future. Mine was not executing when i should have, and yours is letting losses ride. Hey, you're not bankrupt or hurt or anything, but I would consider something else that gets the adrenaline going. After some time, maybe try stocks and don't open a margin account. Just a thought.

Anonymous said...

i have my retirement accounts and they are down over 30k each. pray for all tonight,

DAGG on 5:19 PM said...

check out how I made money through this mess.

http://thecrashof2007.blogspot.com/

Anonymous said...

The problem with trading: Anything can happen. OK, it falls and then rallies, now what? It could (a) re-test the lows, (b) consolidate and squeeze higher, (c) grind down, (d) double bottom and then break lower, so no double bottom, (e) rally strong and never look back, etc......This is why trading is soo hard. And when we look at charts, OF COURSE we see a pattern that makes sense. Fibs, pivots, macd, ma's, etc.....you know where i'm coming from. and we are all screen traders, clearly that isn't the best edge.

Anonymous said...

dagg, that blog is a piece-of-shit and you are a monster fraud cocksucker that is clearly one useless fucktard. go fuck yourself and i will sue your ass and have the SEC crack down on you for deceptive practices.

Anonymous said...

The idea that everyone has to learn this lesson sometime in thier investing life is ridiculous. Most serious investors never would even consider such behavior. These actions are for Yahoo's and Fools... Yahoo finance readers and Motley fools. You have learned a valuable lesson today I agree. The lesson is this. LEARN WHAT YOU ARE DOING BEFORE YOU DO IT! Invest for the long term. Anything less than that is equivalent to betting red or black at a roulette table. If you continue on your path it is inevitable that you will loose again.

Anonymous said...

it's "lose" again, not loose. use your profits to learn to spell. thanks.

gostox said...

My only suggestion: take a couple of weeks off!
You don't need anyone to tell you that emotion is the enemy in daytrading - you gotta be a robot about your rules.
So take a break ... remove yourself from the adrenaline rush ... get your perspective back ... and hopefully by the time you're ready to go again, the market will have settled down a little as well.
Take your $2K win and go skiing man!

Anonymous said...

this guy lost his clients over 80k on NSTR today, don't feel bad.

http://stockdollars.blogspot.com/

Anonymous said...

Transact Futures has a pre-set loss limit for their futures account. You hit that number and your positions are automatically liquidated, and you are locked out of trading for the day.

Anonymous said...

Everyone out there has gone through, and many more are still going through. what you have owned up to over the past 48 hrs.

2 simple things:
First, in the face of catastrpohic losses you wrote about it, and in your darkest hours put up clips of your ordeal. This is huge. All the other fuckers out there; some giving support, some advice, some judging, some mocking - few, very few have the stones to put it all out there for everyone to see.

Second, covering was the right thing - irrespective of how it turned out. The FED cut, that was just the luck of the draw, that cannot be controlled.

You are still up from last year you said - I guarantee most traders who are out here writing these messages (myself included) are not ahead as much(percentage wise)

Stay in the game - you are just getting started.

old fashion market hand said...

Imagine trading as a war game.

Paper trade.

Go back to paper trading for a couple of months before you start trading with live money again.

That will prevent you from hurting yourself.

Or you can give your money over to the pros at AnyGivenFund.

Hope that helps.

Oh, don't be back to lose more money.

I watched your video. It was painful. Hope I won't have to endure that performance again in the future.

Good luck to you.

Dinosaur Trader on 5:57 PM said...

HPT,

50,000 views on Youtube. Nice!

I think you should audition for Wallstrip. You're already a vlog star!

Your breasts need work though.

-DT

Buzz Saw on 6:11 PM said...

Congrats! You made it!:

http://www.whofailedtoday.com/forum/viewtopic.php?id=119801

Anonymous said...

Holy Shit, Batman. WTF? $#5&*#@!$%!

Anonymous said...

I thought it was pretty classless of Knight to make that parody video. For him to sit up there and get a big laugh at of your loss is kinda sick! The guy is a real fucking piece of shit and nobody on Wall Street has any respect for him. Don't quit come back swinging!

Anonymous said...

The fact is...the FED cut makes the problem worse. No way to avoid this, have to head right through the storm and come out on the other side with a better economy.

Anonymous said...

tim knight is a fuckn dirtbag for doing that video making fun of your situation. I hope that fuckn shortie gets blasted to the tune of $1mln.

Anonymous said...

The video has a new host (since youtube took it down).

http://www.break.com/index/stock-future-trader-gets-slammed.html

Don't it sweat it man. I was up and down six figures last summer, it happens. You live and learn.

Tim Knight on 7:09 PM said...

"tim knight is a fuckn dirtbag for doing that video making fun of your situation. I hope that fuckn shortie gets blasted to the tune of $1mln."

Meh. You permabulls never can spell.

nycgold007 said...

Hey HPT,

Well your Video was a reminder of the old days of trading and I hope you did cap a limit on all this talk. It was a blessing that Youtube deleted your Video, its a sign basically that you have to move on.

Certainly I hope you do not consider yourself a failure, manytimes bankrupt, Mr Heinz (57) finally nailed it all correct.

If you look at your 31k loss, and see how easy it was to lose, you can just as easy make more and turn that into 310,000, If you want to that is.

I will be willing to help you as well at no cost or fee. Your pain was the same I experienced back years ago. I was lucky to have someone pave my thoughts and guide me to a profitable day to day living. Lets talk, I wish you the best and when you think about it "All is Well" Dont quit! These are steps to becoming a better trader up ahead.

Fwiw, I lost 60k on an IPO in about 4 hours back years ago, it will stay with me for life probably, but its a reminder how better of a trader I become day to day!

Talk Soon,
Gold``

Gold@TheDayTradeGroup.com

SouthernBread on 7:25 PM said...

You just missed lesson 1 of all investing. You want to know the best part of it all? You will never forget that lesson. Don't trade on emotion. The market moves on rumor, and sits on news. When all the emotional traders finished getting out of positions, the institutions and old school players cashed in and made a killing.
Get back in, and try and learn to trade beyond the 10 minute window. Also learn to hedge your bets. Making money in the market is just like poker. You will never really know you have a sure-thing, but if you can eliminate as many variables and reduce the risk, you can cover your bets and win more than you lose. Than and you can only win, what you put in the pot.

Anonymous said...

that break user is making money of your hot video, so unfortunate. People will do anything these days to make an extra buck.

dvn

Buzz Saw on 7:38 PM said...

Short AAPL, short GOOG, it is the chance of a lifetime! Throw down!

Anonymous said...

The sad thing is that after all this, you still haven't learned that it is very, very difficult to beat "the market". For every winner, there is a loser.

I expect you will try again, and lose again.

If you want to make money, buy a diversified portfolio of index funds, and hold them.

Anonymous said...

Tim Knight is a douchebag. You are a dipshit. No reason to get ruffled though, carry on my wayward son...

Glenn on 8:13 PM said...

It's funny how many say take a day off, he ain't gonna take a day off he's a fuck'n daytrader. Good job today!

ShootingTheLightsOut said...

FYI ... you can set auto-stops ... trailing or whatever you like with IB ...

Play around with ... Configure: HotKeys: Configure 'Buy' or 'Sell': Customize Tab: Attached Orders: click Add Stop Loss/Trailing Stop ... you fill in the blanks from here.

Sorry about the situation you put yourself into ... been there a couple of times myself. Reflect on how you handled your emotions and what lead to that type of behavior ... I call it the scared shitless deer in the headlights ohh my fucking god that truck is going to hit me feeling ... second I have that feeling I pull the plug and off to the penalty box with me ... gotta follow the rules no matter what or splat - did you get the number on that truck ... we all know all of this ... it's a matter of constant conditioning ...

be well and don't give up the good fight.

shooter

newbie said...

HPT,

You are a minor celeb in the day trading community now.

Feel for ya.

We all got tattooed by the market every once in a while.

Just hope I learn your lesson, and learn it well.

Thanks for the vid.

Anonymous said...

The discipline required to be successful trading the markets is incredible. I'm discovering that patience along with proper risk management is the real key is being successful at this game. I got myself into a trap with FSLR in early December and had I took a break for a month. Had I quit while I was "ahead" instead of trying to revenge trade, I would have made a lot of money during that month I wasn't trading.

For experienced or beginning trades, I would consider looking at http://www.twaves.net for all sorts of trading from ES futures, to daytrades, swing trades, and options.

Anonymous said...

Look on the bright side, you're up $8K on the year -- another $2K and you'll reach parity with Bolivian dishwashers...

Ozzie said...

Yesterday I post a sympathetic comment but today I'll just say... WTF? You blame it on software (boo fuckin hoo! I don't have this software and that software... I could've done better). It appears you learned nothing... (By the way, IB does have a stop-loss/autostop/trailing stop/whatever stop feature you desired)

Get a grip and don't blame anyone or anything for your own lapse of judgment. I'm younger than you and lost much more on recent market turmoil (and hey, I'm from working class family, so that should double the fun).

Brian on 12:35 AM said...

Don't quit!!! Don't even say it. Be cool and roll with the punches. I have been in your shoes and could totally relate to your reaction. THAT is what made the video great. We've all been there. You still have a balance so you have lived to trade another day. I've read you at other communities too. You've a sharp mind. Be cool and thanks for keeping it real - and really funny. -RESPECT- from me to you.

Phileo on 12:44 AM said...

Hi HPT,

It's a tough game out there. Where there is a will, there is a way, and blogging about it like you have should help you through the battles. Good Luck.

jedi said...

hey-

you're going to succeed in life in my opinion because you had the b**** to post the video. with respect to futures and options, i think it's not worth it. i'd stick to equities. i'd read alot of van tharp more than anything else - over and over. being up 8k in a year is better than the indices, so congratulate yourself on that. also, i'd suggest getting another broker. those flickering ib screens on the workstation can become very seductive. hope this helps and be well.

Trading Goddess on 11:02 PM said...

Hey baby,

I think you are the bravest person out there. I doubt any of these other traders would have even posted that vid in the first place.

You are *dreamy*.

Carry on.

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