You call guys who have marked to market losses in the course of realizing they’re investment theses idiots. Pretty much all value investors have mark to market losses. Some of these guys have made tremendous amounts of money. More than any trend follower. There are many others who have made less impressive sums of money. All idiots. Goldman Sachs has an internal policy. When you hit your stop loss, they re evaluate your position. Often they will ask you to double it or triple it. They are idiots.
LOL at you labelling people stupid and idiots every second post like youre some genius.Dunning Krueger much? Also LOL at you trying to lump a country of 150 million in together. No one wants to hear about your fantastical trading. Your only contribution to this forum is to pop up when someone is in drawdown and talk shit whilst also implying what an elite trader you are. Pathetic. And no one cares that someone upset you and didn't believe you or whatever on here.Add something of value or fuck off.
He didn't say anything about outperforming the 1%,youre just losing the plot.He said: There are many people who buy assets knowing they will ultimately appreciate but don’t know when. Often their trades are underwater for a long time. When your trades have moved below the entry level and closer to your stop,you are in a drawdown.You don't abandon the trade as you have a forecast and plan in place that you must trust.Would you call yourself idiotic?
Well you are wrong again.You are losing the plot, not me. This is the post I reacted on, it was newwurldmn who started to speak about” the most successful wealth generators of all time.” These are the 1% group. You left out the part of the post that did not fit your story. Newwurldmn refered in a later post again to the 1%. Joe average is not client at Goldman Sachs. You don’t even understand the basic principles about risk management. I always put STOPS to limit my risk. I don’t” hold the bag for months or years and have to hope nothing happens”. The difference between placing stops and holding the bag is the difference between smart and stupid. So your question “Would you call yourself idiotic?” makes no sense. I don’t do what they do.
You are harping on the wrong part. Carrying a position through a loss is a part of many investment theses for investment styles that have proven to be successful. Those styles have been so successful that the most successful firms utilize them. These aren’t the only style that can work, but this is where your statement was wrong. Your style requires you to take stops. Someone else’s might require them to hold onto marked to market losses for a long time. I was referring to Goldman’s prop books, Goldman’s clients. Goldman’s prop groups trade more similarly to an average elite trader but more sophisticated in their risk management and idea generation.
You are cherry picking the post. He said: Recognize that there are many different strategies that work in the market. There are many people who buy assets knowing they will ultimately appreciate but don’t know when. Often their trades are underwater for a long time. You know the names of some of these people as you probably have read about them. they are some of the most successful wealth generators of all time. The bold is mine. He didnt 'start to speak' about wealth generators.He started with "there are many different strategies".He emphasised his original statement by giving an example of who might fall in the category he mentioned.
You don’t even understand the basic principles about risk management. I always put STOPS to limit my risk. I don’t” hold the bag for months or years and have to hope nothing happens”. The difference between placing stops and holding the bag is the difference between smart and stupid. So your question “Would you call yourself idiotic?” makes no sense. I don’t do what they do. So when I said that when price is below your entry but hasn't touched your stop you are in drawdown,you disagree with that? Regardless,as a daytrader with an hour or multi hour horizon,you are in drawdown at that point.Carrying a loss and hoping that you are right and that the market turns your way. Expand on that if you will to someone with a multi year horizon,at some point while building a position they may be in drawdown. Which trader is the idiot?