My Brother Blew >$1 Million

Discussion in 'Professional Trading' started by ET99, May 11, 2007.

  1. ET99

    ET99

    I just want to share this email I received from a friend:

     
  2. That's not trading. That's called gambling, and he's an addict.
    Interesting that the writer's first language wasn't English.
     
  3. Ya ok, trading is a disease! It's disease that makes you bet your life for nothing! Luckily for me, I took a flu shot that makes me immune to such stupidity! :D
     
  4. Yeah I've read that story 100 times over but with casinos in place of trading. Gambling addiction is life breaking..
     
  5. nkhoi

    nkhoi Moderator

    he didn't get a good tip, tell him to wait for double bottom as marked then just buy and hold.
    [​IMG]
     
  6. What this guy tried to do with market is called "revenge trades".
    He couldn't let go of his ego
     
  7. buylo

    buylo

    He went after the guy who stole his wallet. Know the beast, know patience.

    Boo Hoo....that post describes gambling. Learn the lessons of risk management or become the lesson.
     
  8. buylo

    buylo

    PS---What is the point of this post, newb?
     
  9. ''This trading thing is a disease''

    The author of the email blames his brother's failure as a disease. Shifts responsibility off the "trader".

    His gambling problem is not a disease. It is a weakness bordering on stupidity. He was averaging a loss of more than $50K per year for 20 years. He should have stopped trading after losing $50k within the first year, like this ain't working out.

    What was the purpose of the author's email? Was he expecting people to bail him out, feel sorry for him? Expecting leniency for credit card fraud?

    "All in all he owes friends and relative and credit cards to the tune of over 1 million dollars. Everybody is heart broken."

    You think they would have known better too.

    We don't need people blaming traders and trading as a disease that must be cured with more regulation and restrictions.
     

  10. I'm pretty certain the author is Chinese.

    Hardcore gambling is a Chinese disease, along with a love for Opium.

    There are also other clear signs the author is possible Chinese. His total lack of honesty in dealing with others.

    Now multiply this fellow by a Billion and you know why the Chinese stock market is headed straight down when a sell off begins.
     
    #10     May 12, 2007