I didn't mean it to be an example of how he should trade. Most people lose because they trade against trend and with too much size, and then don't want to admit when they are wrong so they hold the loser. This is an example of how I stay on right side of trend, and how to create a hard signal that tells you to close the bad position. You could also use an MA, pivot points, prior OHLC, whatever works for your personal system and makes sense to you. It should ideally be something that fits into what you already do. It could also just be a fixed $ or % move, but I personally find that harder to stick to. That could just be me though. Sorry for the confusion on that.
No, his problem is that he executes differently from what he tells his clients to do and that causes him damage. If he has some rules that he forces himself to follow, it would help. His head gets messed up when his own money is on the line. A simple one to stop the bleeding at least is NO execution opposite to what he tells his clients to do. If he can't do what he tells his clients to do, at least stop doing the opposite or something else. No trade is still better than a bad trade.
This. I have found that traders with a military background a lot of times have a fear of being wrong because in the military mistakes can cost lives. He is an interesting case because when he loses, his group wins. It's kind of like the platoon leader jumping on the grenade to save his guys lives. The self sacrifice is for the good of the group, and when the group loses because of his calls, the money he makes on his gains are are a small consolation prize. I agree that his problem is not strategy related, but likely a case of lack of confidence in risk mgmt. don't lead the squadron into too much risk, but take on just enough to get the job done. Hurrah!
You are trying to make a living herding sheep so you can sell their order flow, and tossing about ad hominens at anonymous people on an anonymous chat board. Not a whole lot else needs to be said.
Wow, never read so much bullshit in one post in a long while. First of all, you are too chickenshit to take Michael up on his offer for a FREE combine. NO RISK for YOU. Yet you still make excuses. Unfucking real. Next, can't believe I have to defend the Brights, but Bob Bright has probably made over 50 million trading in his lifetime. The guy has been trading for over 4 decades!!!! That's call longevity. Michael Patak has been trading on the floor for over 10 years and from the articles I have read on him, he has made over 7 figures. Enough with this bullshit. You are too afraid to do a FREE combine, the stop shitting on this thread and go do whatever it is you do. Just remember, when you post crap, some of us accidentally read it and it takes a while to wash off. So please be considerate where you shit on here. Thanks.
Remain anonymous? LOL. That's probably a good idea dude. I have a feeling after you do the combine we won't be seeing your alias around here anymore. Oh you'll still be here, just under a different name. LOL. I will make it my mission to make sure Michael picks you. I'll even pay for it if he doesn't. And I want your performance report framed in the largest font possible on ET.
Sell their order flow? What order flow? I have nothing to do with their accounts. Their account, their money, their name. I can't even see what these people are doing unless they send their results to me. Most that try out never even send in their results!!! They use the resources and are more than happy to let their FCM pay me. Beats dropping a couple of grand out of pocket... Look, random we can debate the merits of trading systems or lack thereof, but you have no idea what I do so u keep ur assumptions to yourself and I'll refrain from ad hominem. Fair enough?
Exactly that's why the guy is losing money! Read the whole thread, I wasn't advocating that or suggesting they were similar, but was merely diagnosing the guys problem based on other guys like that I've dealt with.