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How to lose 250K $ in one day...

  • #21
  • Mar 5, 2007 12:11pm Mar 5, 2007 12:11pm
i suppose to get heart attack after this trade !
Charting Markets into the Future...MǎҖ€¥.
  • #22
  • Mar 5, 2007 12:16pm Mar 5, 2007 12:16pm
something stinky about the whole story :

Quoting temporary
I have never traded through phone and thus I had never needed a phone number.I had never thought that something like that could happen.

Its not the amount of money that I lost such a great problem.
The problem is the way that happened.I thought I had covered everything and the only unpredictable thing that could happen was a comet hitting earth!
T
  • #23
  • Mar 5, 2007 12:20pm Mar 5, 2007 12:20pm
Quoting Andrew's PF
I'd be willing to bet it was a demo account. It beggars belief that someone trading that much size wouldn't have phone numbers and/or the small amount of intelligence required to a) know at least the country and state/province where the broker is located and b) the intelligence to get the number. I hardly think their number is unlisted. And if he lost 250k and shrugged it off, he's implying he has a large account at a minimum of 6x times the lost.

Now if the poster revealed himself to actually be Paris Hilton I'd believe the story.
even Paris Hilton can work a cell phone in fact she's most likely a grand master of the cell phone
  • #24
  • Mar 5, 2007 12:25pm Mar 5, 2007 12:25pm
Quoting 59fender
even Paris Hilton can work a cell phone in fact she's most likely a grand master of the cell phone
I currently live in Greece.
I am not from the U.S.
No internet access means no other way of obtaining the phone number except if you had it written somewhere.

I dont even understand why I should apologize for writing the truth about what happened.
Either believe the story or not.Dont insult me.
The GrandMaster of the Forex Market.
  • #25
  • Mar 5, 2007 12:27pm Mar 5, 2007 12:27pm
So this is roughly 2K per pip. Why bother with brokers when you have such account? Trade directly...

I agree that if the point of the story to always "expect the unexpected", you reference to your loss just made this conversation going into completely different direction.

My question here is what system gives you this type of confidence to trade with loose stops?
  • #26
  • Mar 5, 2007 12:28pm Mar 5, 2007 12:28pm
Quoting temporary
Dont believe the story if you'd like just get a back up plan...

In fact I have some even more unbelievable stories.
Uh huh.


+ + +

even Paris Hilton can work a cell phone in fact she's most likely a grand master of the cell phone

  • #27
  • Mar 5, 2007 12:30pm Mar 5, 2007 12:30pm
I've found the best backup internet connection for emergency trading to be......good old dialup. I had to dig out one of my old internal 56k "screecher" modems to set it up, but it turned out to be well worth it.

Think about how often your cable or dsl service is interrupted, as compared to your phone service.

In terms of reliability, the phone companies still have a considerable edge in this department.....it makes sense, they've been around a heck of a lot longer.
  • #28
  • Mar 5, 2007 12:37pm Mar 5, 2007 12:37pm
Quoting temporary
I currently live in Greece.
I am not from the U.S.
No internet access means no other way of obtaining the phone number except if you had it written somewhere.

I dont even understand why I should apologize for writing the truth about what happened.
Either believe the story or not.Dont insult me.
Don't worry temp. The moral of your story is all that matters. You'd been better off not mentioning the amount lost. I too would have no clue how to contact my broker without the internet to tell me the number. But your story, whether true or not, has helped me. Thanks.
  • #29
  • Mar 5, 2007 12:39pm Mar 5, 2007 12:39pm
Alrighty, folks...that's quite enough...

Regardless of the unbelievability of the story there IS a point to be made. Have your friggin numbers handy, and have a backup plan for internet outages.

Tradeit...the guy didn't say anything about where he was trading. For all we know, he was trading via Duk or another Currenex platform or hell, maybe he was trading with the banks directly.

Again, you guys are focusing on the wrong aspect of the thread...whether he lost a quarter of a mil or a single quarter...it's important that you guys have a good backup plan.

Geez...imagine if the story was actually true...kick a guy while he's down, why don't you? :-) I just don't see a problem with him telling us to have a backup...It's a good idea...ya'll should just breathe that in for a second...

Quoting Tradeit
So this is roughly 2K per pip. Why bother with brokers when you have such account? Trade directly...

I agree that if the point of the story to always "expect the unexpected", you reference to your loss just made this conversation going into completely different direction.

My question here is what system gives you this type of confidence to trade with loose stops?
  • #30
  • Mar 5, 2007 12:40pm Mar 5, 2007 12:40pm
Quoting Tradeit
My question here is what system gives you this type of confidence to trade with loose stops?
This is what he wrote:
"At Friday I was long at Cable at 1.9563 with a stop loss at 1.9550.
After reanalyzing the state of the pair I realized that I should move my stop loss a little lower at 1.9543.So I deleted the old Stop Loss...and instead of reentering the new Stop Loss I continued analyzing the market because I wasnt so certain anymore that it would go up and thus I was thinking of closing my position manually and reentering at another point when the move to come would have been completed."
  • #31
  • Mar 5, 2007 12:42pm Mar 5, 2007 12:42pm
Quoting Tradeit
So this is roughly 2K per pip. Why bother with brokers when you have such account? Trade directly...

I agree that if the point of the story to always "expect the unexpected", you reference to your loss just made this conversation going into completely different direction.

My question here is what system gives you this type of confidence to trade with loose stops?
Yes you are right the reference to the loss was completely wrong .
I am going to delete any reference to the ammount I lost.

One year ago(last May) under the name of J.L (Jesse Livermore) I had posted a prediction that EUR/USD would top at 1.2950+-(28) pips and then it would fall at 1.2550.At that post I had described some basic principles of my system.Unfortunately I cannot find the thread anymore so I can provide you a link.
My system is really complex and is based on Jesse's Livermore system.

Enough said...
The GrandMaster of the Forex Market.
  • #32
  • Mar 5, 2007 12:43pm Mar 5, 2007 12:43pm
Quoting mrmikal
Alrighty, folks...that's quite enough...

Regardless of the unbelievability of the story there IS a point to be made. Have your friggin numbers handy, and have a backup plan for internet outages.

Tradeit...the guy didn't say anything about where he was trading. For all we know, he was trading via Duk or another Currenex platform or hell, maybe he was trading with the banks directly.

Again, you guys are focusing on the wrong aspect of the thread...whether he lost a quarter of a mil or a single quarter...it's important that you guys have a good backup plan.

Geez...imagine if the story was actually true...kick a guy while he's down, why don't you? :-) I just don't see a problem with him telling us to have a backup...It's a good idea...ya'll should just breathe that in for a second...
Thank you for your words of wisdom to spell out what the point of his story.

But my question about his system still stands. I saw him temp mentioning Jesse 90 page book before and I want his to answer it HIMSELF

Thanks
  • #33
  • Mar 5, 2007 12:45pm Mar 5, 2007 12:45pm
Quoting temporary
Yes you are right the reference to the loss was completely wrong .
I am going to delete any reference to the ammount I lost.

One year ago(last May) under the name of J.L (Jesse Livermore) I had posted a prediction that EUR/USD would top at 1.2950+-(28) pips and then it would fall at 1.2550.At that post I had described some basic principles of my system.Unfortunately I cannot find the thread anymore so I can provide you a link.
My system is really complex and is based on Jesse's Livermore system.

Enough said...
I did read that thread under that name and that was the reason I was asking about that 90 page book that you mentioned there that nobody knew that existed. So please be so kind and tell us where we can find the book, not your system

Thanks
  • #34
  • Mar 5, 2007 12:47pm Mar 5, 2007 12:47pm
Quoting Tradeit
Thank you for your words of wisdom to spell out what the point of his story.

But my question about his system still stands. I saw him temp mentioning Jesse 90 page book before and I want his to answer it HIMSELF

Thanks
Oups..did you remember what I had written almost a year ago ?

Ok wait a moment I will provide you with the link.
My system is better than Jesse's by the way but I wouldnt reveal it.
The GrandMaster of the Forex Market.
  • #35
  • Mar 5, 2007 12:50pm Mar 5, 2007 12:50pm
Quoting temporary
Oups..did you remember what I had written almost a year ago ?
I read it today and my short term memory is still OK.

So please tell us what is 90 page balck JL book before someone takes this conversation back to your orriginal post
  • #36
  • Mar 5, 2007 12:50pm Mar 5, 2007 12:50pm
Temp...send him a PM...a link would be removed at this point.

Quoting temporary
Oups..did you remember what I had written almost a year ago ?

Ok wait a moment I will provide you with the link.
My system is better than Jesse's by the way but I wouldnt reveal it.
  • #37
  • Mar 5, 2007 12:52pm Mar 5, 2007 12:52pm
Quoting mrmikal
Temp...send him a PM...a link would be removed at this point.
Why would be a book refernece on amazon or any other book site be removed? I have seen in many posts...

Thanks
  • #38
  • Mar 5, 2007 12:53pm Mar 5, 2007 12:53pm
Quoting temporary
Ok wait a moment I will provide you with the link.
My system is better than Jesse's by the way but I wouldnt reveal it.
I am sure other would love to hear about your system too but you already stated many times that you would not reveal it and therefore I did not bother asking you...

Only the BOOK
  • #39
  • Mar 5, 2007 12:56pm Mar 5, 2007 12:56pm
No, he can reference the title of the book...that would be fine...

But a link (which might contain referrer information), would be a violation of the rules...

Let's just say, posting links before x # of qualified posts is a no-no...

Quoting Tradeit
Why would be a book refernece on amazon or any other book site be removed? I have seen in many posts...

Thanks
  • #40
  • Mar 5, 2007 12:58pm Mar 5, 2007 12:58pm
no Cyber cafe around your house?
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