How NOT to trade - Perfect Example

Discussion in 'Psychology' started by Spectra, Jan 21, 2007.

  1. DrEvil

    DrEvil

    I wouldn't say he is a nutjob, but he needs a reality check. He said in the video that the reason he is losing is that he is not trading big enough and has resolved to increase his size, so that he can scale in and out of a trade.

    He needs to trade as small as possible until he can consistently make money for at least 6 months or thereabouts.
     
    #11     Jan 22, 2007
  2. Honor your stops, if you find yourself losing say 5% of your account in a week. Stop trading or decrease your trade size until you start doing better.
     
    #12     Jan 22, 2007
  3. Sorry guys, that url got skewed.

    www.puretick.com/video.html is the correct link!

    Dr Evil, you want to send him this thread? I dont want to make the guy feel bad but seesh.

    CajunSniper / Puretick.com Administrator-Trader
     
    #13     Jan 22, 2007
  4. MattF

    MattF

    #14     Jan 23, 2007
  5. I give the guy credit, at least he's got the balls to put himself out there. It's easy to bash a guy behind a computer screen. A lot of people on this site are just plain liars. This guy seems to be trading with a decent size account, and he takes his lumps as he goes along. Which is more than most on ET can say. He's helping people more than some ambiguous guy who claims to have the "Perfect Edge"but, with nothing to back it up. I give respect to any trader out there who grinds it out and is willing to share his experiences.
     
    #15     Jan 23, 2007
  6. dhpar

    dhpar

    well said. Cheers
     
    #16     Jan 23, 2007
  7. let me add something - we are all finding our path to trading that works best. likely if this guy just decided to leave some his positions alone, and perhaps scale in and out, he might do better.

    trading oil/etc on the screen is tough.
     
    #17     Jan 23, 2007
  8. it's also all about projection

    some here are either in the same phase as this trader, or were not too long ago.

    we tend to be more critical of what we see in others that we recognize in ourselves. we've all had these wrestling matches with ourselves while trading - engaged in rationalization, breaking rules, uncertainty, stubborness, fear, etc.

    it's painful to watch, in part, because even the most successful traders recall going through the "losing money" phase.
     
    #18     Jan 23, 2007
  9. Drew07

    Drew07

    Is that cajunscalper guy on puretick an ET member also? anyone know?
     
    #19     Jan 23, 2007
  10. DrEvil

    DrEvil

    Spectra, I don't want to make him feel bad either...so no.

    I was easily as bad (more likely far worse) at one point.
     
    #20     Jan 23, 2007