M6 - Man, Mind, Money, Markets, Method & Madness
- Thread starter DSM
- Start date
Toocool,
Somatung is an options trader - and if you see his post, it is about managing risk... Yes, it is rare indeed that a trader does not blow up his account, but there would be some exceptions in a universe of millions of traders. And I quite agree, that blowing up your account once/few times, is actually a good thing, because you learn early to respect the market as well as risk.... I remember once, when I had a new licence and was driving my car on a clear, flat road..... and I was speeding. What I did not notice was that some bit of sand had collected on the edge and on a slight turn my car hit the pavement. I could sense it all happening in slow motion..... I considered it a good thing to happen, because after that I was careful...... Later on, I learnt something new. No matter how careful I was with my car, I had to also take into account the other Schumakers on the road with high speed and high perfomance cars, but without Schumaker's skills. So too in trading, while an initial blow out will make you cautious, that does not mean still that there is no risk if trading unhedged derivatives. Unless, one ofcourse is trading options - fully covered.
If you have not blown your account then you are not a trader 
See if you are a privileged person and have someone who guided you from the start then probably you will be fine as far as account blowing is concerned. The average trader here in traderji is not a lucky one, otherwise he wouldn't have to come on here to talk or learn, if you trade future and options then blown up your account is a must must thing to experience as unless and until you have not done it you have not experienced the full market cycle market keep kicking out the thousands of traders every year and most of them never return. Blowing up your account and still be here in the markets is the sign of understanding the market cycle and making a point that you will learn how not to blow your account for sure.
Btw after blowing up my account 3 times in different percentages, now when I look back I am fine with it, I had no mentor to tell me what to do exactly and how, I think of it as an achievement What do you do and since when that you haven't blown your account?
See if you are a privileged person and have someone who guided you from the start then probably you will be fine as far as account blowing is concerned. The average trader here in traderji is not a lucky one, otherwise he wouldn't have to come on here to talk or learn, if you trade future and options then blown up your account is a must must thing to experience as unless and until you have not done it you have not experienced the full market cycle market keep kicking out the thousands of traders every year and most of them never return. Blowing up your account and still be here in the markets is the sign of understanding the market cycle and making a point that you will learn how not to blow your account for sure.
Btw after blowing up my account 3 times in different percentages, now when I look back I am fine with it, I had no mentor to tell me what to do exactly and how, I think of it as an achievement
What do you do and since when that you haven't blown your account?
If you have not blown your account then you are not a trader
See if you are a privileged person and have someone who guided you from the start then probably you will be fine as far as account blowing is concerned.
The average trader here in traderji is not a lucky one, otherwise he wouldn't have to come on here to talk or learn, if you trade future and options then blown up your account is a must must thing to experience as unless and until you have not done it you have not experienced the full market cycle market keep kicking out the thousands of traders every year and most of them never return. Blowing up your account and still be here in the markets is the sign of understanding the market cycle and making a point that you will learn how not to blow your account for sure.
Btw after blowing up my account 3 times in different percentages, now when I look back I am fine with it, I had no mentor to tell me what to do exactly and how, I think of it as an achievement
What do you do and since when that you haven't blown your account?
See if you are a privileged person and have someone who guided you from the start then probably you will be fine as far as account blowing is concerned.
The average trader here in traderji is not a lucky one, otherwise he wouldn't have to come on here to talk or learn, if you trade future and options then blown up your account is a must must thing to experience as unless and until you have not done it you have not experienced the full market cycle market keep kicking out the thousands of traders every year and most of them never return. Blowing up your account and still be here in the markets is the sign of understanding the market cycle and making a point that you will learn how not to blow your account for sure.
Btw after blowing up my account 3 times in different percentages, now when I look back I am fine with it, I had no mentor to tell me what to do exactly and how, I think of it as an achievement
What do you do and since when that you haven't blown your account?
If you have not blown your account then you are not a trader
Btw after blowing up my account 3 times in different percentages, now when I look back I am fine with it, I had no mentor to tell me what to do exactly and how, I think of it as an achievement
What do you do and since when that you haven't blown your account?
Btw after blowing up my account 3 times in different percentages, now when I look back I am fine with it, I had no mentor to tell me what to do exactly and how, I think of it as an achievement
What do you do and since when that you haven't blown your account?
..
One red paperclip - Innovative trading
http://en.wikipedia.org/wiki/One_red_paperclip
From
To
The website One red paperclip was created by Canadian blogger Kyle MacDonald, who bartered his way from a single red paperclip to a house in a series of fourteen online trades over the course of a year. MacDonald was inspired by the childhood game Bigger, Better, and the site received a considerable amount of notice for tracking the transactions. "A lot of people have been asking how I've stirred up so much publicity around the project, and my simple answer is: 'I have no idea'", he told the BBC
MacDonald made his first trade, a red paper clip for a fish-shaped pen, on July 14, 2005. He reached his goal of trading up to a house with the fourteenth transaction, trading a movie role for a house. This is the list of all transactions MacDonald made :
On July 14, 2005, he went to Vancouver and traded the paperclip for a fish-shaped pen.
He then traded the pen the same day for a hand-sculpted doorknob from Seattle, Washington, which he nicknamed "Knob-T".
On July 25, 2005, he travelled to Amherst, Massachusetts, with a friend to trade Knob-T for a Coleman camp stove (with fuel).
On September 24, 2005, he went to California, and traded the camp stove for a Honda generator.
On November 16, 2005, he traded the generator for an "instant party": an empty keg, an IOU for filling the keg with the beer of the holder's choice, and a neon Budweiser sign.
On December 8, 2005, he traded the "instant party" to Quebec comedian and radio personality Michel Barrette for one Ski-doo snowmobile.
Within a week of that, he traded the snowmobile for a two-person trip to Yahk, British Columbia, in February 2006.
On or about January 7, 2006, he traded the second spot on the Yahk trip for a cube van.
On or about February 22, 2006, he traded the cube van for a recording contract with Metalworks in Mississauga, Ontario.
On or about April 11, 2006, he traded the recording contract to Jody Gnant for a year's rent in Phoenix, Arizona.
On or about April 26, 2006, he traded the one year's rent in Phoenix, Arizona, for one afternoon with Alice Cooper.
On or about May 26, 2006, he traded the one afternoon with Alice Cooper for a KISS motorized snow globe.
On or about June 2, 2006, he traded the KISS motorized snow globe to Corbin Bernsen for a role in the film Donna on Demand.
On or about July 5, 2006, he traded the movie role for a two-story farmhouse in Kipling, Saskatchewan.
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