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What's your greatest loss in trading

  • #21
  • Jul 10, 2013 5:40am Jul 10, 2013 5:40am
roughly $9k USD in KN soybeans in march this year. an error of ego resulting from a failure to use arguably my most important maxim:

1. "what do I think it will do?"

but

2. "what COULD it do?"
Any prices quoted are futures
  • #22
  • Jul 10, 2013 6:02am Jul 10, 2013 6:02am
Time... Simple things are really obvious now after many years...
Why I did not scrutinize simplest things ...
Time for understanding simple principle ...
it's o'k to win ...
  • #23
  • Jul 10, 2013 6:18pm Jul 10, 2013 6:18pm
how can anyone possibly consider time a loss? screen time is your most valuable asset

totally retarded
Any prices quoted are futures
  • #24
  • Jul 10, 2013 6:59pm Jul 10, 2013 6:59pm
Quoting redteamgo
how can anyone possibly consider time a loss? screen time is your most valuable asset totally retarded
Not retarded at all. Time is the one thing that cannot ever be returned (next to your life of course). Learning to master something obviously takes a great deal of that asset and as we have very little of it to begin with wasting it is foolish.

"Screen time" or experience is a valuable asset for sure and cannot be overlooked however time taken to learn a principle and move on is extremely important. If you are confronted with the same or similar situation over and over and do not learn the lesson intended, then you must waste more time repeating the lesson, over and over, until you learn the lesson.

For me that lesson was that "screen time" or "market knowledge" is relatively unimportant next to learning to make the right decisions and be disciplined in my approach and execution of my edge. Finding the edge itself took only a few weeks. Disciplining myself to follow that edge has taken me 10 years. Now you tell me was the last ten years of repeating the same stupid mistakes valuable as "screen time"...not in my opinion. THAT was retarded.

Again, the answer was in the mirror and I just couldn't see it. I dare say it is the same for anyone who as suffered a grievous loss, whether that loss is money or time or just sanity. The solution to the puzzle is YOU.
  • #25
  • Jul 10, 2013 7:44pm Jul 10, 2013 7:44pm
Quoting redteamgo
how can anyone possibly consider time a loss? screen time is your most valuable asset totally retarded
"Applying the theory of marginal utility to time would lead most of us to value it cheaply. Our least important use of time is to do nothing. In short, time is more like water than like diamonds.
Yet in another sense, time is more like diamonds than water. While it seems infinite, it is actually scarce. Each individual has a finite allocation–without ever knowing what that allocation will turn out to be. As William S. Burroughs said: “No one owns life, but anyone who can pick up a frying pan owns death.”

http://www.forbes.com/2008/02/28/economics-time-price-oped-time08-cx_pm_0229maidment.html
When the Joker is in the deck.. fear not and play it well
  • #26
  • Jul 10, 2013 11:14pm Jul 10, 2013 11:14pm
On a single trade, around $10,000. GBP/JPY was moving like crazy and I wanted a piece of the action although my signals didn't go off.
  • #27
  • Jul 10, 2013 11:45pm Jul 10, 2013 11:45pm
Quoting redteamgo
how can anyone possibly consider time a loss? screen time is your most valuable asset totally retarded
Screen time is asset... No regrets

But except screen time one should understand few simple things, that should be understood from beginning
Wise words from Wise man should be heard, otherwise one has not been learning, just spending time.
Time is restricted resource of my life.
it's o'k to win ...
  • #28
  • Jul 10, 2013 11:46pm Jul 10, 2013 11:46pm
Quoting gspajon
{quote} Not retarded at all. Time is the one thing that cannot ever be returned (next to your life of course). Learning to master something obviously takes a great deal of that asset and as we have very little of it to begin with wasting it is foolish. "Screen time" or experience is a valuable asset for sure and cannot be overlooked however time taken to learn a principle and move on is extremely important. If you are confronted with the same or similar situation over and over and do not learn the lesson intended, then you must waste more time...
Good words!
it's o'k to win ...
  • #29
  • Jul 11, 2013 7:09am Jul 11, 2013 7:09am
this is going to sounds dismissive but spare me the rhetoric and analogies. just because YOU are wasting your time doesnt preclude time from being your biggest asset .

some people certainly learn faster than others. regardless, pull your statements and LEARN. that takes TIME. or make the same mistakes while i take your money.
Any prices quoted are futures
  • #30
  • Jul 18, 2013 12:44am Jul 18, 2013 12:44am
My greatest loss is of loosing half of my capital in just few minutes. I did amistake and trade in gold with low amount in my acont. It was risky . I could not manage this risk well . I wait for reverse market but it brought more loss for me. It was a lesson for me to avoid this type of trading.
Master Forex ║ bonus up to 75% ║Minimum deposit $1 ║Swap free trading
  • #31
  • Jul 18, 2013 1:41am Jul 18, 2013 1:41am
  •  rayzeel
  • | Joined Nov 2008 | Status: Automated/DiscretionaryTrader/Coder | 37 Posts
My was small amounts. I did realize at the beginning that Im not a market master after reading first thread about MA strategy. Peoples used to risk big money at the beginning coz they think that trading is easy. They dont give a chance for themself to even learn anything and then they throw up idea to trade the market because they lost and they dont understand. Can you imagine that somebody can make a complicated surgery after reading a thread in forum about it ? I also saw that people losing money paying for scam.
  • #32
  • Jul 18, 2013 9:20am Jul 18, 2013 9:20am
Quoting rayzeel
My was small amounts. I did realize at the beginning that Im not a market master after reading first thread about MA strategy. Peoples used to risk big money at the beginning coz they think that trading is easy. They dont give a chance for themself to even learn anything and then they throw up idea to trade the market because they lost and they dont understand. Can you imagine that somebody can make a complicated surgery after reading a thread in forum about it ? I also saw that people losing money paying for scam.
What would be the key factor in your opinion?Very tight SL and many tries , or?!
  • #33
  • Jul 18, 2013 9:47am Jul 18, 2013 9:47am
$5672 - on GBP futures.

I was using ninjatrader and it had a feature to close out all open trades at a certain time. Since I mainly daytrade, I had it set to close all trades at 3:00pm EST. Apparently it did not close out one trade and it was a couple of weeks before I started reviewing my daily sheets and noticed something was amiss.

I called the broker and bitched like crazy - they told me, and rightly so, that they send daily balance sheets and I have 24 hours to notify them of any discrepancies.

Once I discovered it, I started to trade against my position to minimize the loss - I was doing ok with that until ninjatrader closed all my open positions at 3pm - causing me to take the loss.

In the end I know it was my fault. That one error caused me to lose my edge and was the start of a slow death. I was so infuriated that every day when I sat down to trade all I could think about was that loss.
  • #34
  • Jul 18, 2013 12:47pm Jul 18, 2013 12:47pm
Quoting enochben
$5672 - on GBP futures. I was using ninjatrader and it had a feature to close out all open trades at a certain time. Since I mainly daytrade, I had it set to close all trades at 3:00pm EST. Apparently it did not close out one trade and it was a couple of weeks before I started reviewing my daily sheets and noticed something was amiss. I called the broker and bitched like crazy - they told me, and rightly so, that they send daily balance sheets and I have 24 hours to notify them of any discrepancies. Once I discovered it, I started to trade against...
Hey mate. How are you doing now with futures? Is it better than fx for you?
  • #35
  • Jul 23, 2013 11:52pm Jul 23, 2013 11:52pm
Quoting MedievalEcon
{quote} Hey mate. How are you doing now with futures? Is it better than fx for you?
Actually have not traded futures in 3 years.
  • #36
  • Jul 24, 2013 2:54am Jul 24, 2013 2:54am
Actually, I once lost my tooth in trading. Well, not lost, but chipped.

The trade wasn't going well, I was eating nuts and become a little bit nervous and started "destroying" them until I realized that my front tooth has chipped
  • #37
  • Jul 24, 2013 3:02am Jul 24, 2013 3:02am
30g week before last Christmas glitch on pc but hey ho.. Only misgivings are reading some of the posts on trading sites written by dicks or wannabee traders lol, but good entertainment value with others
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #38
  • Jul 24, 2013 4:10am Jul 24, 2013 4:10am
I got my first loss on my first trade when I started trading. I think some news came out from ECB and I just watched how my account burned I am happy that I started with small amount and got lesson from the beginning.
My biggest loss so far has been 2k USD - I just gambled I did not follow my strategy at all
  • #39
  • Jul 24, 2013 4:18am Jul 24, 2013 4:18am
About 15$ in one go last week. Doesn't sound much in numbers but that lost amount included -70 pips on both 0.01 positions and a whole 20% of my micro account(being 60$ that time). Manual opening, busy with stop placement and then forgotten news kicked in.

Average losing about 1$-1.5$ per lost trade so that 15 made a mess.
  • #40
  • Jul 24, 2013 4:22am Jul 24, 2013 4:22am
if we have a valid reason for the loss that helps for the future, it is all experience but if a loss is through gambling or being stupid that is wrong
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
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