How NOT to trade - Perfect Example

I wouldn't say he is a nutjob, but he needs a reality check. He said in the video that the reason he is losing is that he is not trading big enough and has resolved to increase his size, so that he can scale in and out of a trade.

He needs to trade as small as possible until he can consistently make money for at least 6 months or thereabouts.
 
Honor your stops, if you find yourself losing say 5% of your account in a week. Stop trading or decrease your trade size until you start doing better.
 
I give the guy credit, at least he's got the balls to put himself out there. It's easy to bash a guy behind a computer screen. A lot of people on this site are just plain liars. This guy seems to be trading with a decent size account, and he takes his lumps as he goes along. Which is more than most on ET can say. He's helping people more than some ambiguous guy who claims to have the "Perfect Edge"but, with nothing to back it up. I give respect to any trader out there who grinds it out and is willing to share his experiences.
 
Quote from Dr.Greenback:

I give the guy credit, at least he's got the balls to put himself out there. It's easy to bash a guy behind a computer screen. A lot of people on this site are just plain liars. This guy seems to be trading with a decent size account, and he takes his lumps as he goes along. Which is more than most on ET can say. He's helping people more than some ambiguous guy who claims to have the "Perfect Edge"but, with nothing to back it up. I give respect to any trader out there who grinds it out and is willing to share his experiences.
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well said. Cheers
 
Quote from Dr.Greenback:

I give the guy credit, at least he's got the balls to put himself out there. It's easy to bash a guy behind a computer screen. A lot of people on this site are just plain liars. This guy seems to be trading with a decent size account, and he takes his lumps as he goes along. Which is more than most on ET can say. He's helping people more than some ambiguous guy who claims to have the "Perfect Edge"but, with nothing to back it up. I give respect to any trader out there who grinds it out and is willing to share his experiences.
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let me add something - we are all finding our path to trading that works best. likely if this guy just decided to leave some his positions alone, and perhaps scale in and out, he might do better.

trading oil/etc on the screen is tough.
 
it's also all about projection

some here are either in the same phase as this trader, or were not too long ago.

we tend to be more critical of what we see in others that we recognize in ourselves. we've all had these wrestling matches with ourselves while trading - engaged in rationalization, breaking rules, uncertainty, stubborness, fear, etc.

it's painful to watch, in part, because even the most successful traders recall going through the "losing money" phase.
 
Quote from Spectra:

Dr Evil, you want to send him this thread? I dont want to make the guy feel bad but seesh.

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Spectra, I don't want to make him feel bad either...so no.

I was easily as bad (more likely far worse) at one point.
 
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