Why is Increasenow still struggling

Discussion in 'Psychology' started by deaddog, Aug 9, 2008.

  1. An avid student of the Market.

    A great thirst for knowledge judging from the number of threads he has started.

    Yet after all the advice he has received on ET, it seems that he is still at square one when it comes to trading.

    Comments???
     
  2. here are a few observations I've had about him and by no means complete list as to why he is still struggling:

    1 - lack of discipline
    2 - lack of focus
    3 - biased and emotional views about market direction, which are usually wrong. Example - he has been bearish on oil since around February and never changed his view. Great way to blow up your account if you were trading real money that way.
    4 - uses those with similar views to only reinforce his underlying beliefs with phrases like "great post!!!" or "exactly...perfect post!" and ignores posters providing constructive criticism or different conclusions
    5 - is allured by big contracts like DAX, CL, etc. and fast money even though by his own admission ("Maximum ES contracts you would trade with $3,800 account" thread) he is under capitalized. Thinks that trading smaller, less volatile contracts is "boring".

    I (as have many others on ET) have tried to give him sound advice but it seems to pass through his head unabsorbed. I have given up recently because it seems pointless to engage him and he continues to post ridiculous
    threads such as:

    "HUGE (ES, YM,DAX)SELL-OFF tomorrow, August 6th...read here..."

    or my favorite one

    "20 reasons why Oil to NEVER hit $135.00 again...dated: May 22, 2008"

    Some folks just need to fail over and over again before it finally sinks in. Increasenow has often reminded me of Casey Serin in that he looks for the easy money with no hard work, is willing to take huge risks without proper education or analysis and doesn't seem to learn from his mistakes. Until he starts to show some maturity he is headed down the same road.
     
  3. There is a big difference btw being given good advice and actually TAKING it :)

    Increasenow seems so concerned with finding the holy grail and doesn't seem interested in plopping himself down in front of the screen day after day to actually learn how the market works. He wants an experienced trader on here to "give him the goods" right now.

     
  4. LOL I told a guy in the office to buy AAPL at $118 back in March. He's always smirking at me when I talk about support and resistance and Fibonacci levels. Anyway, the bastard bought 200 shares and he was up almost $15000 at one point. Now he's back asking what else to buy.

    But did I buy any AAPL? Oh, noooooo.

    I sympathize with anyone who can find good opportunities but can't act on them themselves.
     
  5. People like increasenow predict, and predict inaccurately.

    Traders react.
     
  6. asap

    asap

    his problem is solely leverage.

    at one point he was alluding to how great it was to trade the dax on $2k/lot margin...

    there is no way to become successful with that kind of leverage as a very small string of loses wipes you out.
     
  7. He has more problems that just leverage, lets not kid ourselves here :)

     
  8. At first I thought it was being lazy but he seems to be able to put in a lot of time browsing ET and asking questions.

    Possibly he has Attention Deficit Disorder. Has never stayed with one market or one strategy long enough to see if it works. He starts journals that rarely last more than a few days then loses interest.

    Has not set any definite goals. I followed the “I want to make $200 to $1000 per day” journal and the goals kept changing.

    Has no “Edge”. I’m guessing that he isn’t really sure what an “Edge” is. He doesn’t have a well thought out method. Once in a trade he doesn’t know what to do. He won’t divulge his trading method, probably because he doesn’t have one.

    The sad thing is he seems to know what he needs to do to become successful and he can’t seem to bring himself to do it.
     
  9. clacy

    clacy

    I am convinced that he is affiated with ET somehow with the purpose of posting questions to spur threads on a wide range of topics. I recently put him on my ignore list and I have to admit that I enjoy ET more without him.
     
  10. Wow...I just saw this thread...let me share a couple of thoughts:

    #1-Yes, I do listen to the great suggestions on this website both by PM and in full view for others.

    #2-Yes, lack of focus on a market has hurt me

    #3-Yes, looking to trade the BIG boys (DAX, CL) has hurt me

    #4-Yes, not focusing on one contract and one strategy has hurt me

    #5-No, I am not paid or anything by any ET sponsors...I do ask real questions etc...honestly, many of my questions are the kind other people have had but do just not ask...

    #6-No, I have not meant to frustrate or upset anyone on this website...sorry if I have...

    #7-No, I do not think I am a "know it all"...the "brash & bold" prediction type threads are just my thoughts...take em or leave em..no harm done...

    #8-Yes, need to give much more screen time to just "one contract"

    #9-Yes, I am very serious about this and not being lazy looking for that "one grail answer"...I believe "Success leaves clues"...so ask successful traders what made them successful etc.

    #9-am I still struggling as a trader?...hmmm...I actually think I am at my greatest turning point as a trader...thanks to experience and great counsel from the ET traders...

    Hey guys...sorry again if I have frsutrated or upset you...never meant to...the best trading to you!...I'll keep you up to date on my "Trading journey"...

    The best is yet to come,

    IncreaseNow
     
    #10     Aug 11, 2008