Thursday, February 24, 2011

All Out

 My Shorts:
Covered before Europe opened today, at average of 99.

The adventure has cost me the account I funded this Jan, plus 5% of my main trading account.

Nuff said. 

Will be taking a few days' break. I need my sleep. School starts on Mar 15, and I'm looking forward to making my classmates and instructors cry.

Yes, LW, will start using hard stops with all entries.

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12 comments:

MBAGearhead said...

Sorry to hear. You brought back bad memories of the 1st week of October 2008 when I got married to an ES long position which I added to a couple times during the free fall. Lost >3 times what you just did. Lesson learned: 100% in cash every night. You'll bounce back Jules. I have no doubt. Enjoy the break.

Jules said...

:-) MBA. Thank you :-)
Yes, this is probably what I need to stop holding bad trades overnight ever. There are a lot more lessons here... Soul searching can wait til this has fully sunk in :-)

longandwrong said...

I have only traded for one afternoon this week and have just worked my way through 6 HARD stops.

So we are both poorer, but I am poorer in a more boring way!

Jules said...

:-) LW!!!
You're not supposed to make me laugh!! Where's the cane???

szubaark said...

we all had this happaen to us..hopefully u still have funds and can learn from it

cory said...

did I mention I hold 2 cars overnight because I was 100% sure and after the blow up I was cured of holding overnight habit. Looking at your trades all were successful except the first one. So the trick is how to avoid the first trade but having the first trade mindset in order to take the rest of the trades.

Jules said...

:-) thanks, Szubaark. That was one of my mini accounts. But still, it's the first I've busted, and I'm hoping that the episode will haunt me enough to put me back on the right track.

Jules said...

Cory :-)
You saw that too?
Advice taken :-)

De'Trader said...

agree cory,
my biggest blow up not coming from overnight. It's fighting against the trend. Losses 3x pit session range, lol

good luck jules

soullfire said...

Something apropos that also applies to a true woman like yourself =):
__________________________________

If you can keep your head when all about you
Are losing theirs and blaming it on you,
If you can trust yourself when all men doubt you
But make allowance for their doubting too,
If you can wait and not be tired by waiting,
Or being lied about, don’t deal in lies,
Or being hated, don’t give way to hating,
And yet don’t look too good, nor talk too wise:

If you can dream–and not make dreams your master,
If you can think–and not make thoughts your aim;
If you can meet with Triumph and Disaster
And treat those two impostors just the same;
If you can bear to hear the truth you’ve spoken
Twisted by knaves to make a trap for fools,
Or watch the things you gave your life to, broken,
And stoop and build ‘em up with worn-out tools:

If you can make one heap of all your winnings
And risk it all on one turn of pitch-and-toss,
And lose, and start again at your beginnings
And never breath a word about your loss;
If you can force your heart and nerve and sinew
To serve your turn long after they are gone,
And so hold on when there is nothing in you
Except the Will which says to them: “Hold on!”

If you can talk with crowds and keep your virtue,
Or walk with kings–nor lose the common touch,
If neither foes nor loving friends can hurt you;
If all men count with you, but none too much,
If you can fill the unforgiving minute
With sixty seconds’ worth of distance run,
Yours is the Earth and everything that’s in it,
And–which is more–you’ll be a Man, my son!

–Rudyard Kipling

kingich said...

wow so young and already a trader!! congratulations!!!

will keep reading you

cheers,

ivan

Jules said...

@De'Trader: Thank you :-)

@Soulfire: I've always liked Kipling. Thank you :-)

@Kingich: By school I didn't mean "college". I graduated almost 2 decades ago :-)