I SUCK AS A TRADER (SUCK)

[shakerzzz]

too funny

[TheFinalCD]

here~here...

we all do...

some just more than others!!!


Did you ever say to yourself

"WHEN WILL I EVER LEARN"

[TheFinalCD]

OH no....

on the contrary...everyone is getting really nice haircuts


everyone!!!!!!!

I think people are realizing that they cant trade like they used to...


this market is creating 1-2 tick flippers

going LONG on almost anything in the OTC is like a death-wish


thats why Im taking some much needed time away from these pennies


REAL~

[koolmc]

that's cause everybody on ihub is a millionaire drives a fast car and is dating a supermodel. Oh yeah last i heard everybody makes 100 percent of their trades

[Mikey]

and not much is changed........i suck as a trader and apparently the other 300k people on this site are not having any problems.......

[TheFinalCD]

LMAO= as usual

your a sik man Mikey

fuggin Hilarious!!!!!!!!1

[sdh]

It really takes a load off writing about one's screw ups!

sdh

[bootysweat]

This board is incredible. lmao.

[sdh]

Ok...today:

Bought KOG at 6.24 and sold at 6.25...it then went to 6.46

Saw TPST last night and didn't even play it and it ended up +2.65

Good grief!

sdh

[Pennyprof]

I really do suck this week...if NFLX doesn't bounce to 172 I'm going to be pissed.

[Pennyprof]

That's not really too bad, at least you made money. I had 2000 shares short on SQNS at a 7.5 average. Wasn't too worried until it went to 7.9 and couldn't get any more borrows from my broker. Ended up covering for a $700 loss, but if I had just waited a little longer would have broke even...might not short anymore. Sucks when you can't DCA and end up capitulating. I SUCK, but so does my broker lol.

[sdh]

Just stumbled across this board.....

Sold SVM and EK yesterday eod with a loss....

If I would of kept them, I would of had gains today...

But instead I sometimes:

SUCK AS A TRADER!

sdh

[dav1234]

I suck more, shorted SQNS at 8.50, covered for .25 instead of a $1 a bit later,grrrrrrrrrrrrrrrr.

[Churak]

worse than ever

[harbs]

just wondering if u still suck as a trader..?

[harbs]

i suck..

that felt better..


sorta..

[Lotto123]

LMAO....I hear ya...
Hey, I think I saw a video you did on stocks off of utube for penny stocks...I was friggin' rollin'...if it was you nice job....lmao...

[Mikey]

I SUCK AS A TRADER.......there are days where i cant find my ass with both hands.....i am not sure why that is.....it just is........and please DO NOT give me that "no emotion" bullshit....in my 15 years of online trading i have met maybe 5 people in that category..........

ok, i am fine now......got it out of my system ........or not

[Buckey]

actually have two people who refuse to play golf with me unless im drinkin. maybe I should rink more when im trading.

to quote Ron White the comedian known for heavy drinking.

" That will teach you to mess with Ron White when he is not drinkin"

[andrius]

you must not have been drinking enough!!!

[Buckey]

Yes I suck at both. I have gone from a 6 hcp to an 8 hcp in past two weeks

[andrius]

you might need to start a sister board for this one, I SUCK AS A GOLFER

[Buckey]

yeah well I bot GFG at 54 this week and COBN now CBCG at 35

so there how does that suck for ya.

Im going to go golfin and see how bad I suck at that. Hit 12 greens yesterday and still shot 6 ovger I suck

[andrius]

after close review its a tie between us two

[harbs]

numero uno - right here..in the mirror lol..

[Mikey]

I SUCK AS A TRADER........

there are days where i have no earthly idea wth i am doing!!!!!!!!! yesterday and today were my back to backs.......

[Bane]

I agree....CEO is transparent...lives to his word and reducing the share structure and the product he has going and coming down the pipe will take us way higher. IMO!

[stocksablaze]

stop stucking and buy TOFS!!

[excel]

Some people suck and others are Hovers!


Young trader's fraud costs French bank $7.2 billion
By EMMA VANDORE
THE ASSOCIATED PRESS

PARIS -- In what appears to be the largest trading fraud ever carried out by a single person, a young trader at French bank Societe Generale is accused of making unauthorized bets on stock markets that cost the bank nearly $7.2 billion but may not have netted him a cent.

The bank called the fraud "exceptional in its size and nature," and said it apparently went undetected for more than a year by the bank's multilayered security systems.

It would place the young trader, identified as Jerome Kerviel, 31, atop the pantheon of rogue traders, although bank executives said he apparently did not make a personal profit.

Societe Generale Chief Executive Daniel Bouton said Kerviel's motivations were "totally irrational" but gave no further clues to his motive.

The bank, France's second-largest, said Thursday it had learned of the fraud last weekend.

The timing could not have been worse: The bank was forced to sell Kerviel's contracts just as stock markets were plunging worldwide. It took the bank three days to unload them.

Societe Generale said the losses amounted to about $7.18 billion -- one of history's biggest banking frauds. It led to immediate calls for tighter regulation.

The fraud raised comparisons to Nick Leeson, the trader who bankrupted British bank Barings in 1995 after he lost $1.38 billion on Asian futures markets, wiping out the bank's cash reserves.

Leeson told the British Broadcasting Corp. on Thursday that he was not shocked such a fraud had happened again, but "the thing that really shocked me was the size of it."

Bouton insisted Societe Generale is still financially sound. But the bank said it would need to raise about $8 billion in new capital, partly by selling shares in a rights offer underwritten by JPMorgan Chase & Co. and Morgan Stanley.

The company said it expects to post a net profit of $874 million to $1.16 billion for all of 2007 -- even after the fraud and $2.99 billion lost in the subprime mortgage crisis.

Kerviel, employed by the bank since 2000, had worked his way up from a supporting role in an office that monitors trades to a job on the more glamorous futures desk, where he invested the bank's money by hedging on European equity market indexes -- making bets on the future performance of the markets.

Described as a "brilliant" student by one of his former university teachers, he shocked executives with the complexity and scale of his trades. Bouton called the fraud "extraordinarily sophisticated."

Kerviel was involved in what the bank calls "plain vanilla," or the more basic forms of hedging, with limited authority. He took home a salary and bonus of less than $145,700 -- relatively modest in the financial world.

The bank said he went far beyond his authorized role -- taking "massive fraudulent directional positions" in various futures contracts, betting at the start of this year that stock markets would rise.

He apparently escaped detection by using knowledge of the bank's control systems gleaned in his earlier monitoring job.

Most of his positions went unnoticed by colleagues and superiors as Kerviel covered his tracks with what the bank described as a "scheme of elaborate fictitious transactions."

He got caught when markets dropped, exposing him in contracts where he had bet on a rise.

Jean-Pierre Mustier, chief executive of the bank's corporate and investment banking, said he is convinced Kerviel acted alone. Three union officials representing Societe Generale employees said managers at the bank told them Kerviel was having "family problems."

Analysts were stunned that such a huge fraud could have occurred more than a decade after the one at Barings.

It shows banks "are still under the threat that an employee with a good understanding of the risk-management processes can (get around) them to hide his losses," said Axel Pierron, a senior analyst with Celent.

Societe Generale said Kerviel had admitted to the fraud and had been dismissed, along with some of his bosses. Bouton offered to resign, but the board rejected his offer.

The bank also filed a legal complaint Thursday accusing Kerviel of fraudulent falsification of banking records, use of such records and computer fraud.

Elisabeth Meyer, Kerviel's lawyer, said on the French television network BFM that her client "is not fleeing" and is "available for judicial authorities," but did not specify where he was.

The lawyer said Kerviel had been suspended Sunday, and was awaiting formal written notification of the suspension.

The Bank of France, the country's central bank, said it was immediately informed of the fraud and was investigating. Its governor, Christian Noyer, said the trader had an abnormal knowledge of Societe Generale's trading systems, and measures would have to be taken to prevent it from happening again.

Founded in 1864 after a decree signed by Napoleon III, Societe Generale employs 120,000 people in 77 countries.

[StreetSmart]

BLLN.. Good buying time!

[USDollar]

some of us just did not have luck

it is as simple as that

When luck turns things will be good

You can equate LUCK = BLESSING

Look deep and calm and put some thought into it

I can be stupid and still succeed with luck

All I need is LUCK

I want luck all the time

Everything else , all I learned and know is secondary!
No exceptions.

I struggle without luck for 5 years now!
Since beginning of 2002.
I hope I paid enough of my due to God. May He forgive the rest.


I'm not the best person.
May God have mercy on me and bless me

[seeclear]

'True Story'...shorted 3000 shares on margin of IPIX after they they had lost their contract with 'ebay' and they needed to do a reverse split to stay listed. Then the stock did a run from @ 2.00 to 6.00- 7.00 range. Then, I shorted!!! The company had 3 mos. cash burn...end of story. Without any discernible income, and any remotely credible pr's or future revenue the stock took off on screaming volume and closed, I believe, at a high of @ 27.00 - 28.00 about 5 or 6 trading days...needless to say I was nailed for about 30,000 on that one. I sucked because I had a chance to get out at about 9.18 -9.28! I did not because I had "never" seen a stock do that before! I have still yet to this day....How wonderful for me.....bleech! "F**KING HEDGE FUNDS". And now their 3 times as many as before. Boy, is the cycle to the next BEAR market going to be a 'freakin war zone'...pony up on the smart pills... your going to need them. Have you noticed 'odd' hedge fund type behavior in the pinks and otc... They are trying to compete with the flippers and literally destroying a swath of investors in the process. Sort of like destroying forests with no replanting...very interesting. I have not read any other posts pertaining to this activity...but I read a zillion posts on many boards and note a lot of activity and something is seriously 'haywire' these days. I can barely find anything to put money into, not because the stocks are not good, but because of the flippers and hedge funds......Be "EXTRA" care full these days...SC. ps. example..today --> CTTJ.

[Vindicators]

Try shorting WM..but don't get burned cuz I told you so...I did, but luckily it was only on paper...

[seeclear]

Was going to buy 2000 shares LEND last week at 3.97 ...too distracted with PNMS posts...LEND closed Friday at 10.47 pps. ARRRRRRRRRRGH! SC.

[Mr. Ed]

so be it,we were all here once.the learning curve can be shortened.

[chunga1]

i begining to think so lol

[Mr. Ed]

should it be?

[chunga1]

is this my new home?

[Mr. Ed]

Oh man,did you do an I SUCK trade?We all do,but I thought you were done with that,or is this a lesson we learn,they will continue?

[Churak]

yup

[Sportsjunkie]

CHURAK CAN YOU SEE ME NOW..LOL

[john_doe2]

Anyone know if there is a kool aid anonymous board?

I just can't stay away from the stuff !

[mathew633]

WOW, I'm not the only one that STINKS as a trader!! Anyone going thru a 12 step program, LOL. It's okay, I may not be able to afford the program if there is one

Steve

[andrius]

treat those POS stocks for what they are.

Most otc/pink stocks over long term do nothing but go down. They do make nice swings along the way so you are kind of forced to trade swings rather than holding on if you are going to do well. Hate seeing ppl that keep holding on, especially on many hyped up BS plays that get run into the ground once the plug gets pulled.

[mikeyrags]

im a bagholder then...period

[andrius]

hey mikey. I sucked today really bad so figured I'd come visit here and saw your posts. Are you still holding EZTO? just wondering. If you still are thats your problem. That sucker has ran for 10 bags+ since lows but you probably never had a chance to take advantage of that.

One of the biggest things to conquer in day trading is accepting when you are wrong, taking your losses and moving on. If you get stuck and hold, you are not day trading anymore. Thats called bag holding. That keeps you from making good trades to soften your losses and bad trades only get worse. It can't get better until you move on.

[gdog]

I suk even worse today than i did this time.........it suks to be me.....

[downtherathole]

we all do most of the time. i know i do. i have periods of brilliance, but they are far and few between. right now i can't miss...next week i'll be pulling what little hair i have, out, because i'll be sucking wind again. right this minute i think i know what i'm doing. in a few days i'll want to shoot myself for my stupidty. this trading is really fun.

[gdog]

I suk!!!!!!

[downtherathole]

wow. reading this stuff makes me realize i'm not alone in my suckiness. thanks guys.