Quote from RCG Trader:
2)What I do grasp is that you have no concept of risk control. 1)That pretty much invalidates anything else you have to say. That is kindergarten trading.
1) Not really dumbshit, you keep focusing on how I used to trade
and the 50% drawdown. I've told you many times I've changed my approach
quite radically since those losses.
2) I'm not trying mitigate the seriousness of those losses But the fact s are:
1) I formerly used to trade 1 concept to a time.
2) The 50% loss occurred as a result of 3 concepts in a row going south.
3) The last trade would have netted at least a 50% gain if the ECB and ESFS had not made over 1 trillion dollars in loans for worthless collateral of european banks at an effective rate of zero.
I won't say a 50% drawdown from here is not possible, but it's unlikely it would hit me with less than an equally appropriate asymmetrical upside.