Back in May of last year when all the tariff stuff was going on I KNEW eventually everything would be going back up. I wanted to buy Nasdaq futures and just hold them forever, I said we will never see these lows again. However Silver futures at the time got trounced from $35 down to $30 in 2 days, a once in a lifetime move at the time so I decided to go all in and put every penny I had into silver futures. Had about $600,000 (I am not even rich, I just had won a lot in sports betting, put it in the market and made even more) and I bought 41 Silver future contracts on a Friday for about $29.75. For that amount of futures it is $210,000 for every dollar silver moved, had it gone back up to just $35 it was 2 days ago I would up $1 million dollars but I was ready to hold it for years, I thought would get to $50 or so and make a killing.....
By the time the market opened up on Sunday night the futures got crushed and opened even lower at $28 and dropped all the way to $27.54 a low that will never be seen again. At that point I was down $460,000 and all but wiped out = a few more ticks lower and it would have been a margin call and automatic sale from TD. About to go broke I said a prayer and low and behold the market rallied and not even 3 hours later I actually sold the futures at $30.02 for a $50,000 profit. I had no choice, I couldn't take the chance it dropped again and wipe me out, my dreams of holding for the long term was over. I moved on and in grand tard fashion ended up losing every single penny of that money on other futures and options trades over the next month
But the killer is Silver made the move I knew would happen and is now $100+. I knew it was going back up (i thought maybe $50, never though $100), I knew I wanted to hold it forever. If I was able to hold it until now that that would be a profit of over $14 million dollars on the 41 contracts. But even worse my plan was that as I made profits I would just keep buying more futures as it went up. I would have had at least 500 contracts by now easily would have made over $100 Million dollars on this trade. And that puts me as the #1 grand tard of all the grand tards in this sub. I know it would happen, I made the trade, and I still lost all my money
Have a good day