Sorry I missed this. I traded equities only. Almost entirely nyse in the beginning to mid. NASDAQ in last third. I trader nyse because you could read the tape then.
Was money management already a thing in those days? I get the impression from this post, and others, that you were throwing very large sums at individual bets. Without seeing the bigger picture?
Hmm... No I never used a ton of cap. I was always a consistent trader. Yes I maxed out my margin on the short ban day I mentioned. Rarely at other times. Quite disciplined actually. That's why the last year I traded was extremely tough and hopeless. It was day in day out failure and a failure to adapt coming off emotional high of the previous year.
You "banished" yourself after losing only 25K in one year when you've made $275K over 10 years, more than 10X the loss before even during one of the most devastating financial crisis in 2008 when everybody was losing money? LOL You really shouldn't have stopped. You should've sat down and really investigated hard to find out the true reason for the losses right there and then and continued on trading. Eight years is a long time. The market has grown tremendously during these last 8 years, you would've well made up all the losses and then some.
Explain exactly. I mean , my idea of managing risk was reducing exposure, cutting losses. I missed something.
I have a heap of beliefs. Without them I couldn't trade. It's my beliefs which gives me balls, keeps me in positions when others are getting shaken out Definitely believe in luck. I'm lucky when the markets rise because that's the only time mostly I make money. It's not skill which makes the mkt rise but just luck, but one day it will run out, then I'll be sidelined and gardening instead. Refer to my last post in the 'GOLD' thread
You did not "reduce exposure". You threw in the towel and ran away. Hide under a rock for ten years. That is not "managing risk". I fear that you have other issues that keep you from analytically handling your trading.