Pekelo, regardless of the circumstances, it was a video worth seeing, if only to illustrate that trading can be messier than many people believe. Also, I suspect that PTJ has grown as a trader since that time, judging by size and reputation. All told, I have serious respect for the guy. And from what I gather, he seems to be a man of notable character, with his philanthropy being one example.
(Admittedly, I'd be more than a bit surprised if he still used Gann and Elliot stuff. But, hell, who knows. In any event, as he is often cited as having said, it's largely about risk control.)
What is the spread you typically get for the spot Euro? Also, are you saying that the difference in your not blowing up in spot but potentially blowing up in futures is the spread? Perhaps I not reading it correctly.
0.6 pips or better in the euro.
No, if you max out on futures, at least when I traded them, and you are wrong, you have to reload if the hit is bad enuf. If I bet the farm on spot and miss badly, I know I can come back on the next set-up. Stress if eliminated. No reloading, no blowing up.
This has pros and cons. Yesterday I had a 50% day. No patting on the back tho, cause my next bet the farm trades could pull me underwater, it has not happened yet, but I never want to be "fooled by randomness"
Anybody noticed that their biggest loser (6 mill) was bigger than their biggest winner (5 mill)??
Also, that winning day was at the end of the documentary, filmed months later. It looked like they wanted to finish on an upbeat, and they called the crew: "Hey we have a huge winning position on, come out and film it."
He stated in the vid that he had recovered his 6mil loss with earlier trades and this 5 mil gain was icing on the cake, I know how he did this. If I am right, when he took that hit, he began nibbling rather than swinging for the fences, then when he was back where he needed to be, he bet the farm again, I trade exactly the same way. Just a guess of course.