Trader loses it all and flips out

[editec]

The single most important aspect of trading is controlling your emotions. If you cannot control your emotions, you shouldn't trade. Period.

Sounds like excellent advise.

Good advise for poker, too, actually.

 

[Paulie]

Was the kid asking for your sympathy?

I don't recall that part.

I saw somebody losing his shirt.

To you that's funny, to me it's just sad.

That's okay.

We have slightly different senses of humor, I guess.

Ed, you made the post I responded to at 12:06pm. I specifically mentioned sympathy because you said you had sympathy for him. You apparently went back and edited that post at 2:56 PM and took out the part where you mentioned you had sympathy for him (Last edited by editec; Today at 02:56 PM), and then immediately posted this at 2:58.

3 hours later you edit your post to take a part out that provoked my response to begin with, only to chastize me for it? Why play fucking games like that? That's something a fucking child would do.

 

[auditor0007]

That brings back memories. When I was in my early twenties, I used to bet on football and basketball. I actually did fairly well for a couple of years. I was making $25,000 per year at the time from my full-time job, and I was laying down $500 to $2500 per game. At times I'd have $20,000 in bets going on the same day. During the basketball season, I bet one college game per night, won 20 in a row. I was feelin it. Then came the NCAA tournament. In one week, I lost 15 games in a row. I was finished.

I can remember thinking "how the fuck could I lose 15 in a row. It pretty much wiped out my bankroll. The only good thing was I never actually lost money I didn't have, but I did learn. You can lose just as easily as you can win, whether it be gambling or the market.

 

[Paulie]

I never trade, or gamble for that matter, with money I'm not prepared to lose. That's the number one rule.