tag:blogger.com,1999:blog-6579146808262144709.post3293660058985745392..comments2023-09-09T08:10:21.317-04:00Comments on Grove Trades: Ooops, I "blew up" my account, again...Grove Underhttp://www.blogger.com/profile/11996363914551744557noreply@blogger.comBlogger8125tag:blogger.com,1999:blog-6579146808262144709.post-6469564800923524492011-08-21T15:47:14.781-04:002011-08-21T15:47:14.781-04:00joshua:
Thanks for sharing the charts. Ugh, I see...joshua:<br />Thanks for sharing the charts. Ugh, I see that setup the next day that got away, believe me, I know just how you felt.<br /><br />And your chart of the trades the day prior, looks somewhat similar to my TNA scalp trade day! <br /><br />Seems like everyone has "one of those days"...just shows that we're all human.Grove Underhttps://www.blogger.com/profile/11996363914551744557noreply@blogger.comtag:blogger.com,1999:blog-6579146808262144709.post-38751259428357024822011-08-21T11:01:51.842-04:002011-08-21T11:01:51.842-04:00oops! here you go
http://imgur.com/a/mVp4Z
have ...oops! here you go<br /><br />http://imgur.com/a/mVp4Z<br /><br />have a good laugh.joshuahttps://www.blogger.com/profile/11987724627517363219noreply@blogger.comtag:blogger.com,1999:blog-6579146808262144709.post-37152089388461290492011-08-21T09:12:15.769-04:002011-08-21T09:12:15.769-04:00joshua:
WOW! That's some big bucks for a car! ...joshua:<br />WOW! That's some big bucks for a car! Based on my "In-N-Out" burger index, that'll sure buy a lot of Double-Double meals...<br /><br />Looks like the link for the FCX trade didn't come through on your prior comment?<br /><br />Very frustrating when you were only locked out by just a few $'s, and per Murphy's rule, right before THE trade to get you back. <br /><br />But at least it's good to know that there WILL be many more great opportunities in the future. That's a given and a fact!Grove Underhttps://www.blogger.com/profile/11996363914551744557noreply@blogger.comtag:blogger.com,1999:blog-6579146808262144709.post-10761151835633976762011-08-21T01:11:09.110-04:002011-08-21T01:11:09.110-04:00so, the car went for 14.9M. here is a link to the ...so, the car went for 14.9M. here is a link to the FCX trades. the top is the day after (the day my account was locked by $9 or so) and the bottom is the "fat finger" where i went bonkers and hit the buy button as rapidly as i could, ha.joshuahttps://www.blogger.com/profile/11987724627517363219noreply@blogger.comtag:blogger.com,1999:blog-6579146808262144709.post-19264770938865791852011-08-20T06:24:02.365-04:002011-08-20T06:24:02.365-04:00joshua:
Great advice for me to just call TradeStat...joshua:<br />Great advice for me to just call TradeStation to find out about the lockout, instead of just wondering or guessing whether they have that feature.<br /><br />I'm still amazed that all it takes is a split second for some neurons in the brain to fire in the wrong way, that then leads you down the wrong path, causing an internal "flash crash." <br /><br />It's like those stories you hear about zoo animals, or your neighbor's dogs, that lose it one day and go amok. In some ways, we humans are not all that different.<br /><br />Wow, now that event is THE place to be! With all those incredible cars, that's one really good way to get the mind off the markets.<br /><br />Thanks for sharing, good stuff.Grove Underhttps://www.blogger.com/profile/11996363914551744557noreply@blogger.comtag:blogger.com,1999:blog-6579146808262144709.post-68777697331482877592011-08-20T00:43:09.153-04:002011-08-20T00:43:09.153-04:00grove, call tradestation i betcha they do have loc...grove, call tradestation i betcha they do have lockouts. i prided myself on being disciplined and never losing much per day. well, one day i lost my mind. i remember shorting FCX, only to hit out a penny from the retracement high and then watch it drop. i think i was down $600 or so. i decided to leave the office for the day. in the afternoon, i turned on my computer at home, saw FCX making the same setup again, and i thought "i'm going to get you, you S.O.B". well, this time it went the opposite way. needless to say, i lost all discipline, and hit the alt-F7 key, probably 50 times super fast. i didn't give a f***. i lost over double that within the next 2 mins. the funniest part, i went to trade FCX the following day, it had just a gorgeous setup. i press alt-f7 buy some, and it wouldn't purchase any stock. i couldn't figure out what was happening. it turns out, i was about $9 under the 25k barrier, and wasn't able to trade. i literally could have made all the money back had i not gone under the 25k limit. after that day, i had lightspeed put a lock on the account for $300 loss limit per day.<br /><br />i have the chart with entries/exits somewhere but i can't find it right now. i'm beat. speaking of 18 wheelers and ferrari's, i'm working up at pebble beach for the concours d'elegance. we brought a mockup of a jet in an 18 wheeler for my client. i have never seen so many high priced vehicles in one spot. saturday night, gooding and co is auctioning off some special ferrari. the british auctioneer guy was talking with us today saying that it is expected to go between 13-18 million. freakin nuts!joshuahttps://www.blogger.com/profile/11987724627517363219noreply@blogger.comtag:blogger.com,1999:blog-6579146808262144709.post-88912992172359562372011-08-17T21:40:14.315-04:002011-08-17T21:40:14.315-04:00Greg:
That's a great way of setting up rules f...Greg:<br />That's a great way of setting up rules for managing your overall account risk, makes a lot of sense.<br /><br />At this point in my learning cycle, I wish TradeStation or some other retail broker had a way to establish rules mechanically to lock up your account per your criteria. <br /><br />However, not sure how many would be crazy enough like me to really want this kind of leash on their accounts!Grove Underhttps://www.blogger.com/profile/11996363914551744557noreply@blogger.comtag:blogger.com,1999:blog-6579146808262144709.post-44727245973733058162011-08-17T19:53:46.144-04:002011-08-17T19:53:46.144-04:00I do something fairly similar. I have a max daily ...I do something fairly similar. I have a max daily loss limit, which is roughly 0.5% of account value. This is pretty conservative, but works for me at this stage of my trading. I'll relax this up to another 0.2% on a discretionary basis, only after taking a break and walking away, but rarely (I've only done it once).<br /><br />Then for each trade, I'll have a max risk that ranges from 10% to 40% of my daily loss limit - 40% for the absolute most amazing setup I've ever seen, and 10% for the opposite extreme where I'm not at all confident (and probably shouldn't even be in the trade).Greg Reinackerhttp://www.rassoc.com/gregr/weblognoreply@blogger.com