Experienced trader feedback wanted - doubling positions when in a loss
- Thread starter silvermotion
- Start date
Your partner sounds like the infamous Tailhook (AKA. DAVID SCHEUERMANN) who was banned from ET:
http://www.elitetrader.com/vb/showthread.php?s=&postid=1205941&highlight=tailhook#post1205941
http://www.elitetrader.com/vb/showthread.php?s=&postid=1205941&highlight=tailhook#post1205941
i dont own it
it belongs to Finn B. Hansen. Hes from norway
Doubling losses? Good God man, that is just crazy. Google the word Martingale - guaranteed to bankrupt you (as is Murrey Math btw). Tell your friend to read a few books if he still has any money left to buy them.
Sorry Silvermotion - let me rephrase the question. What is your association with TTWMacciT3?
I was interested that you signed your first message as Gabriel H. And the author of the Quick reference Guide to TTWMacciT3 is, errrrr
V 1.00
July 9, 2007
By Gabriel Harbour :: silvermotion@gmail.com
I dont mean to be offensive, but this simply must be said.
Although your partner sounds like he is a deluded gambler who thinks he is a trader, you come off even worse.
Im sorry but to even still be in partnership with shared capital with someone who is purely gambling like this makes you a complete fool. You should have broken the agreement and taken your half of the capital and be trading your own account already.
Obviously you may or may not be successful, but you have a much higher chance of success than he does by the sounds of things and you are an idiot if you remain in such a 1 sided agreement. The partnership essentially means his gambling will cost him less as you will be paying for half of his losses.
Again this may sounds harsh but i think its for your own good
Although your partner sounds like he is a deluded gambler who thinks he is a trader, you come off even worse.
Im sorry but to even still be in partnership with shared capital with someone who is purely gambling like this makes you a complete fool. You should have broken the agreement and taken your half of the capital and be trading your own account already.
Obviously you may or may not be successful, but you have a much higher chance of success than he does by the sounds of things and you are an idiot if you remain in such a 1 sided agreement. The partnership essentially means his gambling will cost him less as you will be paying for half of his losses.
Again this may sounds harsh but i think its for your own good
Yes thats me, I am a room moderator and we take care of the statistical study and programming stuff, like autotraders based on the same strategies, etc.
Quote from BlackBison:
I dont mean to be offensive, but this simply must be said.
Although your partner sounds like he is a deluded gambler who thinks he is a trader, you come off even worse.
Im sorry but to even still be in partnership with shared capital with someone who is purely gambling like this makes you a complete fool. You should have broken the agreement and taken your half of the capital and be trading your own account already.
Obviously you may or may not be successful, but you have a much higher chance of success than he does by the sounds of things and you are an idiot if you remain in such a 1 sided agreement. The partnership essentially means his gambling will cost him less as you will be paying for half of his losses.
Again this may sounds harsh but i think its for your own good
Thank you for the warning.
Like i mentionned earlier, My partner's involvement in murrey math and position doubling is new, he hasnt done anything with live money using this yet and thats why im asking before he does.
so far he was trading the traders international method with bad results (breakeven on good months, loss on bad months), and this is the conditions covered in our association. I have yet to accept to remain associated with him after he changes methods and that is exactly why i posted this on this forum. So I am not a complete fool yet, but i might become one if i remain parter with him.
because he is a good friend before being a partner, and i need solid reasons to break that partnership, because i am profitable and hes not, and if i leave, hes left with nothing at all. That will cost the friendship part too, quite a delicate situation to manage really.
The reason why hes not listening to my advice is because in sim he has fantastic results. hes so confident in the murrey math + position doubling that its very hard to make him realize the dangers of doing so.
But i got the response i was looking for. I will not stay associated with him as long as he intends to do what hes planning to do now. Ill let him play his own account live, and i hope for him hell make it. I would be really sad to start on my own and to continue to have the success i have now while hes left with nothing but a ''strategy that looks good on paper'', that will ultimately fail.
thank you for all the feedback, it confirmed what i tought in the 1st place.