Hey, No problem. There has recently been a SPIKE in sales with no mention or marketing from me in many many years--thought perhaps you and the the other gannanglers were snapping them up--- thinking I was still SECRETLY using Gann to make the uncanny accurate calls in the surf report part 2.
Great video, although you won't learn anything about the mechanics of trading, you will see the attitude and thought processes of a legendary trader in action.
well, well, well... Peter Borish - PTJ's right hand man:- http://www.facebook.com/people/Peter-Borish/712897867 Do you think he kept any originals? Peter, if you're an ET member please PM me and kindly send me an original!
Futures contracts have a greater spread than spot Euro, which is what I trade most of the time. If I push very hard and take a very large loss, which I do every now and again, I can be more precise in trade management going forward. There is no blowing up in spot. Finally, I can teach this to kids, and they can start with a couple of bucks in the eighth grade, and learn to trade properly, again, without ever blowing up. Oanda has never given me a bad fill or a bad stop. Liquidity is pretty much infinite, insomuch as my spending power will ever be.
What is the spread you typically get for the spot Euro? Also, are you saying that the difference in your not blowing up in spot but potentially blowing up in futures is the spread? Perhaps I not reading it correctly.
Anybody noticed that their biggest loser (6 mill) was bigger than their biggest winner (5 mill)?? Also, that winning day was at the end of the documentary, filmed months later. It looked like they wanted to finish on an upbeat, and they called the crew: "Hey we have a huge winning position on, come out and film it."
Pekelo, regardless of the circumstances, it was a video worth seeing, if only to illustrate that trading can be messier than many people believe. Also, I suspect that PTJ has grown as a trader since that time, judging by size and reputation. All told, I have serious respect for the guy. And from what I gather, he seems to be a man of notable character, with his philanthropy being one example. (Admittedly, I'd be more than a bit surprised if he still used Gann and Elliot stuff. But, hell, who knows. In any event, as he is often cited as having said, it's largely about risk control.)
I met PTJ once. He's paranoid. Almost as much as I am, but he has a lot more money. Maybe he has mellowed some with age. He couldn't screw me.