e.g. ABMD There are probably some ET posters who are sitting on very heavy losses. Did they learn a lesson?
True for every day of the year, I would think. Most traders 1) have no protection against tail events, and 2) make trades based on one or the other extreme of the hope/fear scale. It doesn't help that they're told "just look at this indicator" or "just trade small and often" or some other industry-spawned voodoo that only puts money in the brokers' pockets.
That's quite the handful coming from someone who hardly knew anything about options, futures, and equities a mere 3 years ago, and was bankrupt through most of his life...just an observation and stating of facts according to your own posts below... https://www.elitetrader.com/et/threads/earnings-journal.328822/page-61#post-4892039 https://www.elitetrader.com/et/threads/earnings-journal.328822/page-62#post-4892257 https://www.elitetrader.com/et/thre...-to-start-trading.334154/page-10#post-4894688 https://www.elitetrader.com/et/threads/trade-management-adjustments.335177/#post-4910827
[yawwwWWWN] You just can't resist creeping on me, can you? Gawd, the desperation... Isn't there a shop in your home town that can sell you a plastic "friend", or even a cucumber? I'm just amused as hell that you absolutely can't stand success in others; it's sand in your craw and fiberglass slivers in your underwear. See... I'm always happy to see others succeed, and to me, it is the most obvious mark of a perpetual loser to hate it. Don't blame me if you get rectal cancer from choking on that much black hatred. "Bankrupt" through most of my life? Your school district was obviously so severely underfunded that you never learned to read - and alphabet blocks aren't enough for comprehension of adult topics. "Broke during most of a seven year sailing cruise but didn't need much money in that environment" somehow became "bankrupt through most of his life"... you keep insisting on demonstrating how miserable, incompetent, internally (and therefore quite likely externally) ugly beyond belief, and emotionally damaged you are with every word you write, and yet you insist on continuing. It's both funny and sad, sorta like watching a train full of clown-school rejects crashing into a shit-filled pig sty. This is why I'll never block you, sweetheart. I've blocked all sorts of useless idiots here, but you just provide so much entertainment! Sure, it's of the "faceplant into a brick wall" variety, which I'm usually not a fan of - but man, the frantic insistence on hounding me in order to open your kimono and show me your wrinkled, distorted self is just... disgusting and hilarious. Stick with it!
I only had a few moments before this class that I'm teaching started, so I was indeed imprecise in my wording - thanks for pointing that out. However, what I meant was a "broker" from a broader perspective - e.g., companies like TastyTrade, who benefit from people over-trading.
I take offense of your post in this sense... I remember when BWS came here, and was green in the gills. He asked questions, studied, read the posts, and adopted to his current style based on his hard work putting it all together. So yes, someone with just 3 years of trading experience can learn a fuck-ton, and give advice! I have watched BWS grow into a monster of learning since his brain is the sponge of a man 20-years younger. The fact that he made a specific point about tail-risk and looking only at extreme gauges means he PROBABLY EXPERIENCED THOSE EVENTS, and learned from them as he tried to trade through them. That is how wisdom is passed down. The learner becomes the master. He may be a savant in that it has taken him only 3 years what others may take ten to learn, but that does not mean his pointers are invalid. It means simply that he learned those bits faster than other folks, and perhaps yourself. M.W. Give the guy a break. I am so happy about the progress he has made in his quest to be a better trader, in such a short time-frame relatively. He is learning still, is trading better and is happy for it. And I am glad that I may have had a small tiny part in it, when we were trading CL live on Skype a few years back in a screen-share. Wasn't productive for me because I lost a couple hundred bux, but I am sure it helped him in many ways. Stop pissing in his Cheerios.
I let your own posts that I referenced stand on their own, they tell the true story. Your only talent is running your mouth. Tried stand-up comedy yet? By the way, I thought you can't see my content, suddenly you can reply?