ChrisMoody

Learn From This Video! How I Turned a $4k Loss into a $18K Loss

FX:CHFJPY   Swiss Franc / Japanese Yen
6032 37 46
Some people would be embarrassed to post a video showing a live account loss from a Mental Error.

I’m not. We’re all traders. We all make mistakes. To become a Great Trader we all have to learn from those mistakes. As time goes on after you’ve become a successful trader…it’s still easy to become LAZY From Time To Time. This Video Shows A REAL LIFE EXAMPLE...Of What Can Happen....

As The Video Shows…I have a Highly Profitable System I am Trading in one of my accounts. I was simply Busy when I was entering in Orders for the Day….And out of Pure Laziness I did not place my Stop.

Then…A Statistical Anomaly that as Traders we see maybe once every 5+ years happened the very next day.

This Video Shows The Result: Hope You Learn From It.....
http://vimeopro.com/user32804960/tradingview-indicators/video/116991110

After over 3,000 views the first two days of releasing the video above...and all of the great comments and PM's I received...After reviewing the situation I created a follow up video that covers many topics to take in consideration for todays             market uncertainties.
http://vimeopro.com/user32804960/tradingview-indicators/video/117147544

Thanks
Thank you very much for your advice!
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Thanks for sharing. Yes, bad mistake. But no, you probably would have taken nearly the same loss in this case, stop or no stop. I highly doubt you would have been filled anywhere near the stop. Liquidity vanished, and we all know what happened. People need to be aware that a stop is just a market order that triggers at a set limit. It is not a guarantee of getting filled anywhere near the stop (unless you are trading with a broker who allows you to pay an extra fee to guarantee the stop). So, good lesson, but really in this case your goose was probably cooked stop or no stop. Maybe you would have saved 500 bucks. :)
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ChrisMoody PRO SetagayaGirl
Your right...I recorded the first video immediately after exiting the position....In the second video I covered a few of the topics/statements from above...

However...As Stated in the second video...even though the stop wouldn't have prevented the loss...As Traders we can't control the market...But we can control our actions...and there could have been a hundred scenarios that could have hurt me that would have been prevented by having my Stop In Place...No excuse not to follow our Trading Plans...And my Trading Plan Says - Always have Emergency Stop Placed...
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Yep, thanks for sharing this :) I actually felt sorry, until i saw your balance.
I'm such a small fish compared to your balance ;)
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i was not trading the swiss pairs that time, but even if you placed a stop there, will it be triggered? It declined so much and so fast that i doubt that the stop will be triggered.
+2 Reply
I think Chris address this on his second video :-0
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i alerted this situation where my friend encountered
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Thanks for the post Chrissy..
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JayJay JayJay
Would love to hear that silver futures story in more detail..
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Hey Guys...Thank so much for all of your comments. Instead of replying to everyone I created a second video covering my answers to the majority of the comments that were made....and I cover a few major points that I meant to make in the first video...but didn't.

Several topics that are relevant in todays market environment were also discussed.

Link to 2nd Video...
http://vimeopro.com/user32804960/tradingview-indicators/video/117147544
+4 Reply
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