Comments on: What the crap was I thinking http://www.debtkid.com/what-the-crap-was-i-thinking Debt Kid - I'm Getting Out of Debt Sat, 07 Nov 2009 01:10:13 -0700 http://wordpress.org/?v=2.8.4 hourly 1 By: Hermand http://www.debtkid.com/what-the-crap-was-i-thinking/comment-page-1#comment-18958 Hermand Wed, 01 Apr 2009 02:25:21 +0000 http://www.debtkid.com/what-the-crap-was-i-thinking#comment-18958 i really hope you forclosed on your homes....how the hell can you leaverage that much debt with 60k income...i have 3 homes my myself with 250k income but my debt/income is extremely low because I KNOW BETTER.... i really hope you forclosed on your homes….how the hell can you leaverage that much debt with 60k income…i have 3 homes my myself with 250k income but my debt/income is extremely low because I KNOW BETTER….

]]> By: Sheldon http://www.debtkid.com/what-the-crap-was-i-thinking/comment-page-1#comment-10283 Sheldon Sun, 27 Jul 2008 06:22:37 +0000 http://www.debtkid.com/what-the-crap-was-i-thinking#comment-10283 Early on in my life I was horrible with money. Now I own 3.5 properties(the half is the home I live in in san fran but is half my sister's) but I'm paying 4 mortgages on a single income(60k). The other properties are rented out thanks to God and my late dad's good karma. I feel your fear but I see that you learned and got stronger because you proved that you can overcome a seriously bad situation. Later on you'll look back and laugh. Respect your money and you'll become a money magnet. Early on in my life I was horrible with money. Now I own 3.5 properties(the half is the home I live in in san fran but is half my sister’s) but I’m paying 4 mortgages on a single income(60k). The other properties are rented out thanks to God and my late dad’s good karma. I feel your fear but I see that you learned and got stronger because you proved that you can overcome a seriously bad situation. Later on you’ll look back and laugh. Respect your money and you’ll become a money magnet.

]]> By: Chuck http://www.debtkid.com/what-the-crap-was-i-thinking/comment-page-1#comment-9209 Chuck Mon, 28 Apr 2008 12:56:00 +0000 http://www.debtkid.com/what-the-crap-was-i-thinking#comment-9209 Dude, Don;t sweat it - it sounds like a lot of money but its not even enough for a decent Maseratti...Guess you could have bought his and her Vettes with it though.. Better luck next time... Dude,

Don;t sweat it – it sounds like a lot of money but its not even enough for a decent Maseratti…Guess you could have bought his and her Vettes with it though.. Better luck next time…

]]> By: Max http://www.debtkid.com/what-the-crap-was-i-thinking/comment-page-1#comment-8597 Max Wed, 09 Apr 2008 18:17:32 +0000 http://www.debtkid.com/what-the-crap-was-i-thinking#comment-8597 Holy shit dude! What I'm curious about is if this is death by a thousand cuts or several big blowouts. Did you simply have absolutely no risk management? Why wasn't there a hard stop after a certain amount of losses where you just stopped trading for a while? leverage + beginner trader = blowup I recently started actively trading (no leverage thank you very much) and although I'm down right now, I don't think I would ever let myself lose my whole account. Cutting my account in half would probably freak me out so much I'd totally stop trading. Heck, if I get to -$500 I'd probably stop making real trades for at least a month or so Holy shit dude!

What I’m curious about is if this is death by a thousand cuts or several big blowouts. Did you simply have absolutely no risk management? Why wasn’t there a hard stop after a certain amount of losses where you just stopped trading for a while?

leverage + beginner trader = blowup

I recently started actively trading (no leverage thank you very much) and although I’m down right now, I don’t think I would ever let myself lose my whole account. Cutting my account in half would probably freak me out so much I’d totally stop trading. Heck, if I get to -$500 I’d probably stop making real trades for at least a month or so

]]> By: Tony Chai http://www.debtkid.com/what-the-crap-was-i-thinking/comment-page-1#comment-7925 Tony Chai Thu, 13 Mar 2008 02:00:57 +0000 http://www.debtkid.com/what-the-crap-was-i-thinking#comment-7925 Hi Pal : I hope you're recovered and learned something from this mistake. I understand money management is crucial in sustaining your trading capital to fight another battle because I've been there, done that. You're still young and have plenty of time to re-learn everything, hopefully something which would work towards achieving higher probability of success in your trading. Good Luck, Tony Chai Hi Pal :

I hope you’re recovered and learned something from this mistake.

I understand money management is crucial in sustaining your trading capital to fight another battle because I’ve been there, done that.

You’re still young and have plenty of time to re-learn everything, hopefully something which would work towards achieving higher probability of success in your trading.

Good Luck,

Tony Chai

]]> By: case http://www.debtkid.com/what-the-crap-was-i-thinking/comment-page-1#comment-1885 case Thu, 16 Aug 2007 00:00:36 +0000 http://www.debtkid.com/what-the-crap-was-i-thinking#comment-1885 I bet you were leveraging your positions no less than 100:1. Money comes and goes quick in the foreign exchange market. I guess better to figure out at 23 then later. Best of luck! I bet you were leveraging your positions no less than 100:1. Money comes and goes quick in the foreign exchange market. I guess better to figure out at 23 then later. Best of luck!

]]> By: Bob http://www.debtkid.com/what-the-crap-was-i-thinking/comment-page-1#comment-1031 Bob Mon, 09 Jul 2007 03:00:25 +0000 http://www.debtkid.com/what-the-crap-was-i-thinking#comment-1031 I have a financial talk show in the Dallas Fort Worth area. Shoot me an e-mail if you are interested in an interview. You have an interesting story. I have a financial talk show in the Dallas Fort Worth area. Shoot me an e-mail if you are interested in an interview. You have an interesting story.

]]> By: Lost Cause http://www.debtkid.com/what-the-crap-was-i-thinking/comment-page-1#comment-1029 Lost Cause Sun, 08 Jul 2007 23:27:30 +0000 http://www.debtkid.com/what-the-crap-was-i-thinking#comment-1029 Nothing ventured, nothing gained? Sure, you may think that you need your head examined now, but on the other hand you are not afraid to take risks. Don't be totally hard on yourself. Learn to take life's lumps -- it may not be the last time you are handed a disaster. Nothing ventured, nothing gained? Sure, you may think that you need your head examined now, but on the other hand you are not afraid to take risks. Don’t be totally hard on yourself. Learn to take life’s lumps — it may not be the last time you are handed a disaster.

]]> By: JW Thornhill http://www.debtkid.com/what-the-crap-was-i-thinking/comment-page-1#comment-1021 JW Thornhill Sun, 08 Jul 2007 04:03:27 +0000 http://www.debtkid.com/what-the-crap-was-i-thinking#comment-1021 I did something very similar once and it took us a while to resolve it but, it too is in our past. Good Luck. I did something very similar once and it took us a while to resolve it but, it too is in our past.

Good Luck.

]]> By: T http://www.debtkid.com/what-the-crap-was-i-thinking/comment-page-1#comment-1020 T Sun, 08 Jul 2007 01:25:34 +0000 http://www.debtkid.com/what-the-crap-was-i-thinking#comment-1020 Keep your head up, kid. You're young and you are doing everything possible to learn from past mistakes. I'm a big fan and I know you're gonna come out of this ok. Keep your head up, kid. You’re young and you are doing everything possible to learn from past mistakes. I’m a big fan and I know you’re gonna come out of this ok.

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