The RO Report, "Deathed" Edition
The bloodletting is too heavy.
Today was my single worst day ever trading, and I think "Trader D's" worst day as well. It also may have been "Trader Z's" worst. Naturally, I blame "newequity."
We all had decent exposure to the market just after 3pm, when it really took a dive. The selling was so intense, and quick, that it didn't feel sustainable, and we were slow to exit our longs. In fact, I know I was adding a lot before I finally got washed out. As a little lesson, I took my loss with 20 minutes to go in the trading day... it was a hard loss to take, but it was the right thing to do.
The only consolation, is that we all did well yesterday. Truly, if you need life lessons in "impermanence" and the importance of always keeping perspective, trading is a great job to have.
These lessons aren't always easy to learn. In fact, they're downright painful lessons to learn.
Anyway, this day is over.
Out of 24 traders today, 5 were gross positive, or 21%. 14 traders lost over $1,000 gross while only 2 managed to make over $1,000 gross. It was a bloodbath, plain and simple. I was #18 of 24, or completely smoked.
The Manservants got their revenge on the Bosses today in a big way.
"Chambermaid" - Trader D, -$59,866 on 509k shares traded.
2. Trader H*, -$23,705 on 4,600 shares traded.
3. Trader Z, -$22,431 on 245k shares traded.
4. Trader C, -$11,730 on 165k shares traded.
5. Trader B, -$10,919 on 741k shares traded.
And the Bosses:
"Lucky Pierre" - Trader N, $3,213 on 76,000 shares traded.
2. Trader E, $1,442 on 112k shares traded.
3. Trader 9, $857 on 500 shares traded.
4. Trader 3, $140 on 15,800 shares traded.
5. Trader 7, $81 on 8,000 shares traded.
6 comments:
It was close to being Trader D's worse loss- he lost $62K on Sept 16 before turning it around with mega gains.
This is a market that you have to completely reconsider every ten minutes. I was net short and reduced a little thinking we were going to have another bull run into the close.
live to trade another day my friend.
and to that trader N dood - SCUM, should have gone down with your brother.
My mama always said "misery loves company". I never undertood that shit growing up. Now, it's as clear as a bell. I've been depressed since looking at my losses at 4pm yesterday. I finished at my low point which is always mood enhancing going into a weekend. I managed to give back almost every dime from the previous day, which incidentally, was no small feat. However, for some convoluted reason, I felt somewhat better after looking at the RO's results from yesterday. I guess it makes me feel that I'm not quite as stupid as I thought afterall. My mama, however, fucking genious!
@Jd (AKA, "Trader P) FYI, E and D are brothers, N is gilligang. Still, E is a scum.
@newequity, thank you.
@goldenreceiver, Your Mom was right. The only thing that makes todays losses mentally manageable is knowing that a lot of good traders got caught in the maelstrom. However, it's not all-comforting. Trader B shaved his loss by about 30 or 40 grand at the end of the day by getting short... that's just smart, and it shows that getting smoked was by no means, "necessary."
-DT
"it was a hard loss to take, but it was the right thing to do": I LOVE THAT! So wise. you'll get it back DT.
I know that roller coasting feeling. But, as you allude... gotta look at the week's final result. One day doesn't make or break a trader. Although it seems that, overall, you've been doing quite well over the last few months.
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