Turvey has BRANDED FATLD typical trumponian Tactics. He may be a liberal who use Trump's tactics. ROFLMAO. YOU might want to ignore Turvey. BTW he thinks I am a snowflake. ROFLMAO.
If the story is true (and I am not saying it isn’t) then your friends problem is probably more psychological. He plays loose and fast with monies he made as profits in previous trades within the same session. He needs structure and pragmatic ways to employ profit conservation.
It's the usual invincibility issue. After a streak you'll think you cannot lose and lose focus. Then lose. Simple psychology.
I went from +$550 back to +$30 back to +$150 on the close, just went stupid, switched to trying to call a bottom in a obviously down move, even posted self sabotage time right before blowing some major $$$'s, atleast I know when I'm going to turn stupid, improvement. Still make $$$$'s it's just not retirement at 50 with a Ferrari $$$'s, more 20year old banger and still trading for ever.
can you elaborate more and tell us more on the part of why it did not work for the trader him self and why?
Thats exactly it, i tried helping him moderately i wouldn't say i put a lot of time, but he continues to trade, i personalty wont get up if i dont have money on the line and sit market hours with him, but if my 25k is there i will force my self to do so, and yes thats been my point to him at the rate he is going he should have 150k in his account but he doesn't, he knows it and i know it and acknowledge as well. THe point you mentioned is exactly the one that keeps me from going in yet, is that he might soon or later get caught by that one trade, on the other side the fact he been trading few years i would've speculated it would've happened, but it hasn't but i agree with you it can still happen with a bad move even if his stops are in place, the market could just rip through a stop i assume in day trading as with any thing else, flash crash maybe, we will see, but i am telling its exactly whats stunning me, the 8k or even 3k on a single trade, yet i seen him do it over and over and over, only to give it back over and over and over, i am not sure i can help him (and me) without putting money, he cant get the hurdle that he is giving back REAL MONEY, not market money, he is only few years in which as we all traders in the beginning i believe the big problem is we NOT AWARE of time so much, in the sense of the feeling of " i am so close" outweighs the rational that its been "few years" now and account size isn't much different, i know it took me more years than him
I chase away those that answer the question not asked or that completely miss the point, like you, let me prove it to you, respectfully, since like most you didn't ready the post in its entirety I am simply looking to say, stop trades on my account mid day after he is up lets say 3k or more, where as you INFERRED, that i am gonna miss with his trades, where i clearly put that i am not even look to pay attention at the trades but rather the equity alone, see you didnt read everything, so i excuse you cuz i do the same with some other posts, but dont come attacking me personally as if you did read everything and now i am chasing you? out?