[ellie]

Hi Everybody,

I am new here and really appreciate the level of experience, which can be found in this Forum. I am a Newbie and am currently reading and trying to understand the System.

One thing, that I have not yet understood quite right is the risk, that goes with holding mini future positions overnight. Is it that you wake up, see that your limits were triggered by unusual volatility and you lost money? Or that you did not set limits and unusual volatility caused your broker to close your position and you are left bankrupt? What would the worst case scenario be?

[maxima]

the worst case scenario is a newbie trading eminis holding his position overnight.

[Tams]

Originally Posted by ellie »

Hi Everybody,

I am new here and really appreciate the level of experience, which can be found in this Forum. I am a Newbie and am currently reading and trying to understand the System.

One thing, that I have not yet understood quite right is the risk, that goes with holding mini future positions overnight. Is it that you wake up, see that your limits were triggered by unusual volatility and you lost money? Or that you did not set limits and unusual volatility caused your broker to close your position and you are left bankrupt? What would the worst case scenario be?

well... trading emini is no different than any other endeavors in life:

1. don't do anything you don't understand
2. don't take on challenges bigger than you can handle
3. don't try to reinvent the wheel
4. don't take advice without due diligence


first, try to understand why do you want to trade.
then understand why do you want to trade emini,
finally, understand why do you want to trade emini at a particular time.


for the "final" question, I will give you a hint:
there are many trading zones in a 24 hr period... each with a different characteristic.

[maxima]

Originally Posted by Tams »

trading emini is no different than any other endeavors in lif

I beg to differ. but what do I know

[Tams]

Originally Posted by maxima »

I beg to differ. but what do I know

you can slice anything anyway you want...
if you look hard enough,
you can find the meaning of life within/between the up ticks and down ticks
at 1 second after midnight every night.
... and it happens every night, without fail.

[Frank]

this is an all-time classic:

YouTube - Stock Futures Trader losses it all and flips out

YouTube - Stock Futures Trader losses it all and flips out

[maxima]

You can read his lips:

"Why did I click that red button?! WTF! What does Sell mean?! I have very bad feeling about this -25K figure on the screen!! Whatever it is Don Antonio is not going to like it! OMFG!! I have to fly to Siberia and hide amongst the white bears!! No more pizza for little Giovanni!... Why I ever click wrong buttons! "

the other version:

"I will never hold my position overnight! I will never hold my position overnight! I will never hold my position overnight! I will never hold my position overnight! I will never hold my position overnight!"

[DugDug]

Very funny - thanks - the other links are also hilarious as well, especially the photocopying of the computer screen.

I am sure every overnight trader has had similar feelings - however as per normal this should be part of the plan...... plus it also shows why money management, position sizing, and trading with the trend etc; are so so so so so important.

Personally I have had the "vomit in the bin" type of day before as well (lost 18% of that particular account in 4 days - everything became correlated and illiquid - luckily I was up 45% for the year previously but still never nice)..... there is only one thing you can do. Cut, and start again - dont let yourself be ruined and out of the game.