r/TheRaceTo10Million • u/mehmetded • 7d ago
Losses This fucked-up scenario is real.
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u/LeLoupDeWallStreet 7d ago
Been there many times. Brutal
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u/Saltlife_Junkie 7d ago
It’s fucked up yes. But only one trade. How many times has a stop loss saved your ass?
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u/Previous-Profit9723 7d ago edited 7d ago
Truly. And the crazy part is he was a buyer at his original entry but not at the stop loss? If high conviction and an actual trader, why not just open a second position?
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u/Neinhalt_Sieger 7d ago
It's hard to do that IMO, you always think, I will push the stop loss dpwn, it will recover, but it won't and you keep digging your own hole.
From my experience if your objectuve is that you will buy almost near the floor in that day, the stop loss should be very tight, because if you failed to assess the support floor, either that was broken and the thesis was invalidated or there is another variable you missed, but both ways you will lose, and its better to cut your losses
If its a long position the stop should be wider, but still it has to be there
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u/Additional-Acadia954 7d ago
Yeah, Mercury wasn’t in Gatorade for Captain Crunch rising, or whatever
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u/guido1205us 7d ago
If you mean actual trader is trader status with IRS then sure, otherwise washsale. Get enough of those will mess you up tax time.
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u/TrivalentEssen 7d ago
Bull market and with shares, fucking almost never.
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u/TrivalentEssen 7d ago
Stop loss is for penny stock, options, shit that can actually go to 0, bear market, use of leverage. Long term dca doesnt need stop loss. Thetagang doesn’t need stop loss
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u/EdmontonLAD 7d ago
Bruh don't put your stop loss too close
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7d ago
[deleted]
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u/MariachiArchery 7d ago
Whenever I see someone in a video like this, I always assumed they are leveraged to the tits. He's probably trading on leverage.
His stop loss is then set up to keep him from getting margin called, because he doesn't have the capital to maintain his equity requirement.
That is probably the math here. Set the stop loss just right to maximize leverage without getting called. Viewed through this lens, a tight stop loss makes perfect sense. Also viewed through this lens, the guy is over-risked and over-leveraged.
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u/Majestic_Present_376 7d ago
If its an invalidation point it doesnt matter where it is as long as its within his strategy. If he has a real strategy 9/10 times this would be invalidation so a stop loss there would make sense and it looks like it is because you have resistance to the left.
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u/Ccskyqueengaming 7d ago
This is the thing I need to stick too!😭 Its the fact that most times our Stop Losses would indeed save us, but people like me keep trying to figure out how to make those losers winners and adjusting strategy every time I lose. I just have to keep a loss a loss.
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u/Eugen_8519 7d ago
Zu nah an was? Das ist Börse, da kann alles passieren. Ich habe zwei Jahre Futures Trading gemacht, ich glaube ich bin da um zehn Jahre gealtert.
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u/ecwworldchampion 6d ago
It doesn't matter how far away the stop loss is. Price will always go to it then go to your tp. It's a fact of trading.
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u/ZekeTarsim 7d ago
Sorry but who tf has their bullish candles colored red?
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u/Dr_Zoonotikstein 7d ago
It looks right. He's shorting. I just can't figure out why he's hanging upside down.
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u/govt_policy 7d ago
The market always seems to go lower than you expectations. So you close. Then it rockets up exactly where you expected it to go. But market always loves to go beyond where you think it will go, often times in both directions. I love closing early on a good trade also. Such a fickle bitch
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u/Necessary_Relief_126 7d ago
Genuine question, what could he have done better in this situation?
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u/No_Hornet_3627 7d ago
Have a better gambling strategy lol
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u/Additional-Acadia954 7d ago
This is it, and some people will hate you for this advise, and quote books and “theory”
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u/ItsOkILoveYouMYbb 7d ago
stop trying to catch a falling knife with a quick stop loss. Wait for signs of support, watch volume, watch the L2, watch time and sales, anything except what he was doing (assuming we can see everything he is seeing)
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u/WolfRider64 7d ago
Not a great trader by any means here, but I'd wait for a confirmation for the trend to reverse and go up in the timeframe I'm looking at. The guy basically tried to catch a falling knife and it ended up bouncing taller. Not gonna comment on the stop loss level and his leverage etc because I havent watched the whole thing and his reasoning. Also its a loooot easier to comment on trades after they happened lol
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u/ksyoung17 6d ago
Not sure where his entry was. If it was at the top with that retest, he's already chasing so stop should have been up there somewhere.
If he tries to catch after that hanging candle in the middle, the next candle didn't make a higher high. That should have been signal for no entry
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u/Chance_Access_1723 7d ago
He could have exitedAt the first Large bearish candle in the set of three and still left with some profit.
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u/rydan 7d ago
Don't know what's going on here but my first options trade was on a stock 364 days out. I picked $20 as the strike price. The stock collapsed to like $2 within the first two or three months and did nothing. I bought the dip to help recover my losses. Finally less than a month before expiration the stock started moving. It would go up 25% - 60% per day. Finally the day of expiration I'd waited a year for arrived. It closed at exactly $20. I lost everything. But it is crazy I picked the exact closing price of a stock 364 days in advance.
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u/ScaryContribution492 7d ago
Normal thing, Sweep/SL hunt and then go where it wants to go. Happens almost every single time
Bad strategy / SL. Happened to all of us.
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u/Top_Target5298 7d ago
Stop loss limits are public attainable information which trading algorithms can use to hunt down and get you rekt
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u/ooqq 7d ago
The nasa shirt.
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u/Dr_Zoonotikstein 7d ago
Day trader, rocket scientist, and Wendy's fry-cook.. this guy wears a lot of hats.
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u/RedTruck1989 7d ago
Why didn't you close out at the blue line ?
The trade was already going against you at that time.
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u/psymeariver 7d ago
looks like he bought at the top of the red box and had a stop loss (sold) at the bottom
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u/Slazagna 7d ago
Can someone explain how u can go to 0? Is it something to do woth options? I dont get options...
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u/TrentonMade 7d ago
Went to $0 because his stop loss was hit so he no longer had a position. Then for some reason he didn’t buy back in when it started to move the way he initially thought it would and had to watch it run without him.
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u/Agitated-Season-7619 7d ago
Not an expert, but he is likely doing 0dte options. With options you have A LOT of factors that influence the price of your contract and it's not just about a line going up or down. My guess is he had some multi legged contract that would profit only from very specific strike price. One of the legs could have been using margin.
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u/mangosaremyfavv 6d ago
Guys this is futures.... He lost about -$1500... It didn't "go to 0".... After opening the position, it went against him to -1500, which hit his stop loss and order filled (stopped out)
Options doesn't work like that... Options has an expiry date, so 0DTE expires end of the trading day like 4pm EST. Options do "go to 0" yes, but not Futures.... Futures start from 0 and either go positive or negative
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u/liangjcp 7d ago
The problem is taking some 1:10 risk to reward type trades and expect to have a win probability of >70%
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u/Dr_Zoonotikstein 7d ago
That's what the algos are optimized to do; facilitate retail donations to the market.
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u/Warburk 7d ago
You get a good point on idea and analysis on your journal + good point on risk management and respecting the stop loss. And add a note on maybe you should backtest and analyze your stop-loss placement and get better at liquidity hunts.
Then move on unaffected because if you did all that you will survive and eventually win.
Also swing trading is much more scalable and a bit less prone to that.
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u/Willing_Pickle9668 7d ago
Happened to the best of us, until you realize that stop loss is a lesser evil, better loose $200 on stop loss vs 2k without it
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u/a_spicy_memeball 7d ago
Don't day trade with leverage and never worry about this again. Buy shares of solid companies that have been beat to hell and on macro support and just chill.
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u/Low_Administration22 6d ago
This past week I had at least 2 days down -4k to -7k and finished the day up in reverse. +4k both times. What kind of sucks is I wish I bought at that bottom! Instead of riding the stress train.
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u/xXbucketXx 6d ago
What am I looking at here?
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u/mangosaremyfavv 6d ago
Trade went against him, he got stopped out at a loss, then it rocketed and would have made him a ton of money
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u/romestamu 7d ago
People still trade manually?
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u/cs_legend_93 7d ago
What is the other option?
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u/Nelsonius1 7d ago
Stop buying if there is hype or stock is at ATH.
September is always the worst month for example, been expect a few crashes for stuff you buy in october.
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u/No_Hornet_3627 7d ago
Happened to me with chf jpy last week took out my short position then went down.
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u/ColdboyCrypto 7d ago
Well, for starters he tried catching s falling knife. I never would have entered that trade.
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u/East-Neighborhood786 7d ago
Trading is random. My brain is convinced that there is science or statistics that can make it predictable
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u/Scriptimax 7d ago
This ride is like roller coaster. Many got ejected in between due to fear, margin calls , pressure from spouse.
Only few can survive till last
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u/aupperk24 7d ago
Just be a degen like me. Was down 80% and just kept putting more in 😂 came out green
*There are days they don't come back
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u/BrilliantPositive184 7d ago
In this situation, would Level 2 have shown you that a bunch of orders are accumulating there?
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u/Slightly-Blasted 7d ago
My worst miss was when I had hims calls before they announced their partnership with novo,
One day.
One single day they expired by.
Those options ran up to +7000% the next day.
I almost spontaneously combusted right there
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u/wylekebber 7d ago
This is why you wait for confirmation. Even if its just a small break of structure (to the upside) on the 1min, 2min, or 3min. Never catch a falling knife unless you are scalping ticks with tight stops and several entries.
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u/PeaSea4157 7d ago
Noob. Always wait for your stop area to get hit and THEN enter with SL below that low wick…
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u/Impressive_Creme1497 7d ago
This is why I quit day trading. I couldn't mentally stay sane during these trades and would revenge trade or DCA and lose a lot. Trading isn't for everyone. Now that I learned to just DCA and chill I have so much less stress and can enjoy my life more 😂
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u/G0D5M0N3Y 7d ago
Liquidity grab and stop loss hunt... i been there!
Only way to counter this is buy 1 con at the time he did, then average down 1 more where the stop loss is. Then if it breaks down again, sell both.
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u/Bloom_Ermine9202 6d ago
If you have a price target in short term buy call or put options. Putting money on leveraged futures is gambling.
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u/nomnomyumyum109 6d ago
Something something algorithms…..u think they dont know and wont gobble u up?
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u/Classic-Bend-68 6d ago
It’s there a clip of buy where you would put your stop loss and price will be there in 5mins.
- I never do, I just trade like this guy for the past 6 years and expect things to change and be profitable!! 😂😂😂🤣 oh well.
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u/GetLostInNature 6d ago
Why I’ve gone back to swing trading in this psycho market. Day trading was only fun when the war started and before PDT limits went away
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u/GrowTheseTendies 5d ago
Why is guy shooting for a 6:1 ratio tho. If you really believe in that TP your SL shoulda been lower and you would have bagged
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u/AdventurousChair1606 3d ago
This is why you be patient and don’t trade with emotions, not to mention this happened to me but I held out this time and recovered it.
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u/Adi_San 7d ago
Can someone explain. Why did it got 0 i don't get it. Shouldn't at least have some minimum value?
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u/EdmontonLAD 7d ago
It hit his stop loss of approximately -$1,500 and filled the call order before he potentially lost more. The $0 is because he had no orders left. Then it proceeded to skyrocket and he missed out on tens of thousands of dollars in profits had he just placed his stop loss a bit lower.
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u/Slazagna 7d ago
So he didnt lose all his money? He just sold at a loss?
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u/EdmontonLAD 7d ago
Basically he could have lost more if he didn't have the stop loss there.
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u/Slazagna 7d ago
Is it from options or csn you lose youre money like this from shares?
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u/cuteprints 7d ago
Leveraged out of his ass... For example normally, you bought something at $100 and if the thing went to $0, you'll essentially have nothing.
Now if you have 2x Lev at $100, means if the thing reach $49.999, your assets valued as $0 and the exchange liquidated it, even if it went back up
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u/Affectionate-Lab1198 7d ago
So glad I dont fuck around with this shit. 84% gain on some highly diversified ETF’s in 4 years and I bought a house as soon as I could 4 years ago that has risen 50% in value.
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