Well let’s see if we get any input on Options. Not holding my breath though. Looks like there’s very few serious dudes / traders left around these parts.
Unfortunately that is true. I gained my best experience in the 2009 meltdown. I lost a ton of money. Looking back, that was school fees well payed. Made so much more money always using that as my benchmark of trading street savvy.
You and me both. Exactly the same story. 2009. What a GREAT year to learn!!! LOL!!! Given what it cost me: I cannot honestly say it was money well spent. Particularly if I look at just how dumb my trading is now. Was no reason for it. But it is what it is. If nothing else: always considered it a sort of privilege to have been around and watch the meltdown on a minute-by-minute basis. Certainly was history in the making.
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Oil and S&P were my biggest drainers of funds. I never used to trade forex before 2009. Decided to learn it as a fail-safe …Still learning before I go back to gold, oil, S&P, DAX and VIX
FOREX and Gold for me make up the bulk of my overall losses since 2005. 2009??? You’d be hard pressed to find a financial stock that I wasn’t long on. Couple that with the fact that I knew nothing about risk management and lot sizes and with huge leverage at the time. Don’t need to draw a picture of the bloodbath!!! LOL!!! Spent weeks adding to losers on like AIG, Citigroup, most of the banks. Buying the dips. You know what I mean. “They cannot go any lower”. “The US Government will not let them go any lower”. “They will bail them out”. “Too big to fail”. Any of this ring a bell??? LOL!!!
Staying away from trading US stocks, I know what you mean…But I didn’t feel the pain. I am not comfortable with a country that allows a corporate company to “invest” in government decisions, hence the fact that I only trade stocks on heavily controlled countries like China and lesser degree Hong Kong.
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Funny you should say that. I love them to be honest (US). They’ve got style. And of course they’re like old friends given what happened!!! LOL!!!
Was actually just sitting here thinking back after I replied to you earlier. Ironically: my single biggest loss was on the Brazilian Bovespa back then. $25K USD in about 30 minutes. Pains me now to even think about it. Huge lot size, no stops, and a bucket shop broker that just would not let me close the trade at market until I hit a margin call. Remember sitting staring at the screen in disbelief (like it happened yesterday actually). Like “did that really just happen”??? At the time that was about R187 500 ZAR (South African Rand). My Mercedes Benz at the time didn’t even cost that much.
NOTHING TO BE PROUD OF because it was SOOO unnecessary looking back. Pretty sad actually. Certainly nothing to boast about.
It is to boast about! You survived it! How many traders, “Big sharks in small tanks pretending to be a god” did you know before the “fall of 2009”? How many after?
We survived arrogance, where some far more powerful and wealthy never recovered from that arrogance!
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Well. Not STRICTLY true. I mean define “survive”. I lost my home, cars, furniture, credit, and the rest. Had no choice but to step away from the vehicle and do something else for a few years. Took me a while to get back to this business. Very odd though i.e. returned with a totally different view and with much clarity that I just didn’t have before all of that. Possibly or probably the only reason I can do it now and actually make a little bit of money. Dunno. Don’t get me wrong. That was the single worst trade. All of the others though sure did add up over time. Pretty quickly too. Put it this way: I seem to remember tallying up after the fun was over. I came to roughly $500K USD at the time. That was cash. At least half of which anyway (still have the trading statements) ended up at a bucket shop in Belize. Just thought about it.
Sorry to hear about that pain…So you were an arrogance 2009 trader?
No disrespect meant. An observation, not a judgment.
I was lucky, I allocated funds on a total value of 30% of my company into trades. The 30% loss (100% in trading value) was 5% less than my profit margin on my services. I did however close my company after that, but with no expenses owed to anyone!
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Yip. Thought I knew it ALL. And then some.
Oh by the way: think I found us someone that knows a little about Options. He should be reading right now.
…Listening
My USD/HKD is still climbing!!!
Yeh. It’s odd though. My situation right now is worse than it was then. Believe it or not. It actually is. Irony is that it has nothing at all to do with this business. And I am ■■■■ bitter about it. But that’s the funny thing. I’m not bitter about what happened back then. And if nothing else: it taught me to respect this business and the markets in general. Neither are a game and certainly not to be taken lightly. Firmly believe the markets are there to ■■■■ you. That’s their job. That’s what they do. If you allow them to that is.
Good. You can use your profits for an Option or something!!! LOL!!!
Funny. I actually want to get back to oil, gold, S&P, DAX, VIX. I just need 4-7 heavy hitters in Forex to keep me floating when the birds fly South. Only reason I am interested in this very interesting USD/HKD…Decided EUR/HKD won, I cannot ride that beast.
You actually pointed me to the USD/HKD
For that, I thank you a million times.
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Well I hope it doesn’t lead to tears!!! LOL!!!
Did I mention that I’m taking donations??? LOL!!!
I can donate a minute, if that helps?
Currently stuck in a bad GBP/AUD trade, but refuse to let go (Stubborn).
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Well I’m waiting patiently for this Options dude to have read this thread and post here so that we know he’s here.
This stuff not for me though so I’m not really looking at this for a trade. Just so that you now that. But I am really curious about this stuff. I mean: it really is a one way bet let’s face it. But I could not be happier if you make something out of it. It’s just very interesting. And as I noted the other day: this is not the only currency where there is a peg in place (although I forget now which do have but Google found the relevant info.).
Here you go (table about half way down the page) (but finding a broker that offers some of those obscure pairs could be an issue):
Be serious
If this USD/HKD is a walk in the park: You gave the peg…Spot on, I gave the support…Spot on.
More money in this than getting things wrong in indices every time Donald Duck has a Tweet moment.
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