Seriously, has any of you even considered what this whole thread was about? It was about the worst way to trade (unless the OP trades a multi million USD account and the trade made up a small percentage of his a/c). Then it was about whether he trades a demo or live account? What does it matter? The truth is that this guy will bankrupt his account sooner or later with such leverage and poor risk management skills. I dont care whether he loses or not, I dont care he trades a real a/c or not, in fact I could not care less. What, however, amuses me, is how almost everyone completely got sucked into this horrible trade, and the icing on the cake was how some congratulated him how he got out even. Newbies, you just saw and read about the worst way to ever approach trading, a style purely based on hope. No sense of expectancy, probabilities, stop losses, nothing at all. I find it hilarious to know of one certainty in the financial markets: That there will ALWAYS be sufficient idiots who are more than willing to be parted from their dollars and I am very happy to pick them up, today or tomorrow or later, I am patient. Good luck to those who at least saw what bad eduction this thread is to beginners. For the others even luck wont cut it, its better they lose their a/c fast and furiously and simply step away and do something else, they are not cut out to trade. Sounds harsh? I dont care to be honest, there are enough who post utter bs, I think I speak the truth at least, though it may hurt.
The thread is entitled "Squeezed" so it fairly obvious he's not trying to come across as a supertrader, but rather planting the seed, rather unsubtly, that he went from demo to swinging 70 lots. You've all been duped. Bad publicity is good publicity.
I agree with asiaprop 100% here this is gambling, pure and simple but I am still interested to know this saxon22 got on during the flash crash...
Hi SP, You are obviously a very clever guy, so what do you make of this statement ........................................... "Someone once told me that a successful trader can sense another successful trader very quickly and discard the frauds even faster. Do you think that this is true "
Perhaps one of the reasons this thread is so popular is because saxon22 is doing what lots of us would love to do...gamble, double up, risk everything..but we have to pay bills and have found over time that such a style of trading doesn't work in the long run So this thread is probably some sort of healthy release for those of us who suppress our gambling urges all day long in the pursuit of profitability... I heard one time a trader describing how he kept two accounts - one for his regular trading, and a second one a 'gambling' account where he punted around in much smaller size. To prevent gambling in his regular trading he allows himself to do whatever he wants in the gambling account - reacting impulsively, taking trades for the fun of it, and that release of emotions enables him to stay disciplined in his regular trading... Maybe saxon22 can afford to gamble...
Probably nothing exciting. He didn't post anything interesting in those days, and the way he likes attention, it is safe to assume that he would have, had anything noticable happened. By the way where are we know with the position? Well, I guess it means you sold 50 cars with 4 pts gain (10K) at 1218.75 and the rest is down about -3.7K at 1225.75....
you are an idiot, sorry to be so direct, you still dont get it that it is not important whether he demo traded or not, I always prefer a demo trade off the back of a good idea and a smart approach rather than this trade, purely on the basis of a 50/50 chance, even worse yet, the risk was clearly stacked against him.
does it matter? Why do you care? Being in the market, you trade at any given time against a host of different humans and machines. It all comes down to your own trading with edge, this trade had zero edge, thus it was at any time during the holding period a bad trade, so simple. If you worked out an edge you would not have to wonder how others do and how good or bad they are. I chimed in because I want to warn newbies to follow any advise given re this trade other than that it was a stupid trade. If you read any of my past posts you find that I try to give back a little by flagging bs so beginners who want to put in the work and effort have some minimum guidance.