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Did Robert Hoffman really lose 312K in a single TF trade? Yikes!
- Thread starter Jreality
- Start date
Quote from RockyRacoon:
I'd be surprised if he didn't make it all back.........they guy does have an 8 figure account - what's the big deal?
8 figure account? LOL
He absolutely did not make it back. I know this because I know a couple of people in his room. In fact, I heard he was up to 100 contracts on the TF and squeezed out a $2000 gain. That's 2 ticks of profit on 100 contracts.
For the record, he has changed his style. He has a maximum contract limit of 10-12 contracts. He took a loss already, which is fine. I think a lot of his students sound pleased, although he did lose a lot of students after his huge loss.
The way I look at it is that yes, Hoffman was teaching a completely unsustainable trading method. I think this new method is probably much more sustainable, but he will take a lot more losses, but only time will tell how profitable he will be.
Right now, he's like a fitness trainer for fat people. Fat people don't need trainers to lose weight, they just need to stop eating so much and exercise. It's really easy. Fat people get trainers not because of they will lose weight, but because they want the companionship. They feel cool having a cool good looking friend that is nice to them. This is my impression of Hoffman's students. There are a few that use his techniques pretty well to be profitable, but for the most people, people just want the companionship. And that's perfectly reasonable. $300/month is less than a fitness trainer. And good for Hoffman to take advantage of the sheep, isn't that what capitalism is all about?
Quote from EPrado:
He was making a few thousand bucks a day at most. Then loses 325k in one day.
You do the math.
8 figure account?? Hilarious. Where do you get your info. I guess you are counting the 2 places to the right of the decimal.
Where do you get your information?
Did you spend +2 years in his LTR? Then why are you talking about something that you obviously are thoroughly ignorant of?
Quote from jedwards:
8 figure account? LOL
He absolutely did not make it back. I know this because I know a couple of people in his room. In fact, I heard he was up to 100 contracts on the TF and squeezed out a $2000 gain. That's 2 ticks of profit on 100 contracts.
For the record, he has changed his style. He has a maximum contract limit of 10-12 contracts. He took a loss already, which is fine. I think a lot of his students sound pleased,****although he did lose a lot of students after his huge loss****.
You don't know if he made it back or not - - - anymore than you know that "He did lose a lot of his students after his huge loss".
This post and your ridiculous accusations just proved themselves completely unreliable and an out right lie.
Like the rest of the peanut gallery "know it alls" who really don't know what they are talking about either.
Quote from RockyRacoon:
You (and the others here) really should avoid getting all your information from hearsay, then proclaiming it as fact.
Wouldn't you agree?
It is a fact.
I started trading in 1992
Worked for a big prop firm in the 90's
Worked for 2 hedge funds in my career.
Have been fortunate to trade with some great traders/none of them learned from a clown on a website.
What's not a fact here?
Quote from EPrado:
It is a fact.
I started trading in 1992
Worked for a big prop firm in the 90's
Worked for 2 hedge funds in my career.
Have been fortunate to trade with some great traders/none of them learned from a clown on a website.
What's not a fact here?
Go back and read what you said:...............
"Seriously...why would you want to learn trading from a horrible trader/blow out artist who makes all of his money from collecting 300 bucks a month from people who have no clue? It's not like the guy makes money trading."
Quote from RockyRacoon:
Where do you get your information?
Did you spend +2 years in his LTR? Then why are you talking about something that you obviously are thoroughly ignorant of?
His account info has been posted on here by some of his students/people who were in the room. Also been reported on other sites. Where do you get your info?
If you believe he traded an 8 figure account I have a bag of magic beans to sell you.
Quote from RockyRacoon:
Go back and read what you said:...............
"Seriously...why would you want to learn trading from a horrible trader/blow out artist who makes all of his money from collecting 300 bucks a month from people who have no clue? It's not like the guy makes money trading."
He makes his money from subscriptions. That's a fact.
He has a blow up strategy that involves adding to losers. Many have tried that strategy...all end up in the same place. Blowing out their account.
So at the end of the day any money he has is from the unfortunate ones who paid to learn a horrible strategy.
Comprende?
If he was a good trader he would be trading for a fund,big firm, or for himself. Not trying to teach 22 yr olds how to scalp minis with 2000 in an account.
Quote from RockyRacoon:
You don't know if he made it back or not - - - anymore than you know that "He did lose a lot of his students after his huge loss".
This post and your ridiculous accusations just proved themselves completely unreliable and an out right lie.
Like the rest of the peanut gallery "know it alls" who really don't know what they are talking about either.
How do you know that he made his money back?
I know because there are several students who track every single one of his trades.
What "ridiculous accusations" have I made?
Quote from EPrado:
He makes his money from subscriptions. That's a fact.
He has a blow up strategy that involves adding to losers. Many have tried that strategy...all end up in the same place. Blowing out their account.
So at the end of the day any money he has is from the unfortunate ones who paid to learn a horrible strategy.
Comprende?
If he was a good trader he would be trading for a fund,big firm, or for himself. Not trying to teach 22 yr olds how to scalp minis with 2000 in an account.
Well, I made my 30 posts.....now I can go blackball Lightspeed - their fees are insane.
Anyway, I agree the scaling in was insane - I blew my own puny account out like 3 times and I don't do that no more...I will scale in once or twice on rare occasion but my stops are always in place from the instant I enter the trade - - - he used to always warn his students about scaling in - if they scaled in, they can only blame themselves, same as I blame myself for every loss I take, ever took and ever will take.
His entry set-ups and techniques are, IMO, phenomenal once learned - until they're learned, they will probably do more harm than good to most traders who have already deeply entrenched bad trading habits.