Trader Loses $377,000 Day Trading TSLA

Discussion in 'Wall St. News' started by realtrades, Sep 21, 2020.

  1. So $50k just appeared out of nowhere so he could start again?
     
    #71     Sep 24, 2020
  2. smallfil

    smallfil

    That is where your problem is. The saying is "cut your losses and let your winners run." Your winners have to be several multiples of your losers. So, if you win say $500 on average and you lose say $150 on average, you will come out ahead and by a huge amount. Win average is irrelevant. You could win at 30-40% of the time and still make monies. Small losses is nothing, it is the big losses that eat up your profits or even your capital. Losing is part of trading and numerous small losses is preferred over a couple of very large losses. This is where risk management and position sizing comes into play.
     
    #72     Sep 24, 2020
  3. Pekelo

    Pekelo

    So the title should be: Tesla trader made 400K a month!!!
     
    #73     Sep 24, 2020
    trader99 likes this.
  4. qlai

    qlai

    In a few days, the title will be - trader made a million in a month! Is this dude for real?!”
     
    #74     Sep 24, 2020
  5. If your TP point is 2x as large as your SL, then you are 50% as likely to hit it. So it all equals out again.

    It all goes back to having some way of accurately predicting.
     
    #75     Sep 24, 2020
  6. trader99

    trader99

    He started with $6k and made $. After all these years of trading, he doesn't have $50K? WTF?
     
    #76     Sep 24, 2020
  7. Not if he blew up his whole account like was said
     
    #77     Sep 24, 2020
  8. trader99

    trader99

    he blew his account when it was small. He had a full-time job as an mechanical engineer and saved up money. Eventually he got good enough to quit his full time job to do trading.
     
    #78     Sep 24, 2020
    S-Trader likes this.
  9. Did I miss where he says how he bases his predictions?
     
    #79     Sep 24, 2020
  10. trader99

    trader99

     
    #80     Sep 24, 2020