Is that a clue? I've hit some pretty bad lows in the market. I pretty much get my ass handed to me every couple of years when I go back and try again. I've been trying on and off since 1992 or so. Studied books, backtested strategies, researched novel new strategies of my own, etc. I've tried trading by feel like some of the market wizards and following strict rules. I've written my own programs to try out strategies that are impossible to code within the usual trading platforms. I've basically tried everything I can think of. I've conquered my demons in terms of bad psychological habits (overtrading, revenge trading, the occasional plunging, etc.) I have to say I've gotten much better at losing money -- I can now do it slowly, carefully and with little emotion, like a pro! I guess I finally have to admit that I'm one of the ones who doesn't get it.
LOL. Tell him keep following the rules for another 12 months in a row, and refuse to talk to him about it until he puts together a full 12 consecutive months of following the system.
People learn through making mistakes that hurt enough that they *really* don't want to repeat them. That gives a strong incentive to work as hard as you can to avoid a 2nd occurrence. If things are coasting along, it's human nature to get lazy and assume you don't have to work so hard to do well. Hence most traders require some kind of painful loss before they really knuckle down and do the necessary preparation and study.
Someone that has no idea what goes into this business may not ever really grasp what you've given them. There's crowds here that would beg you to teach them as you did here b/c they get hard this is. Similar to a 16 yr old kid that is handed keys to a brand new Lexus. They will never appreciate what kind of car was given to them, while a kid that bought his own beat up Cavalier could truly marvel in what a Lexus is like to drive. In the end I think it depends on how much you want to give to this person - you already gave them the 'recipe' one time, how many times do you want to teach it? Will they ever 'get' what you've given to them? How much hand holding do you want to do on the 2nd try? What will you change the 2nd time around? What will this other person change the 2nd time around since it did not work the 1st time? Should you try a 2nd time, you need to design a different teaching program - maybe you get a % of the profit this time - this will keep both of you on track.
Your being an arrogant DICK. Either help the guy totally and hold his hand through it all or don't do anything and apologize for being a snot. With friends like you who needs enemies.