Top 5 Donations To WallSt
- Thread starter Nobert
- Start date
This is what happens when you trade without a well-tested proven solid trading plan/system with no strategies in place to deal with all the possible scenarios that can happen and no analysis done to justify entries or exits. Everything is "I will do this and I hope this or that will happen". What if it doesn't happen? They dunno. What if it does happen, what are they going to do? They dunno.
This is not trading. This is gambling. The title of the video should be changed to "Top #5 Youtuber Live Gambling Losses with Reactions!" Quite entertaining to watch though.
This is not trading. This is gambling. The title of the video should be changed to "Top #5 Youtuber Live Gambling Losses with Reactions!" Quite entertaining to watch though.
I remember Patrick. I use to follow him in his early youtube days back when he was still humble and entertaining.
His videos have been more cynical & lacking of meaningful content as of late.
Prolly death of family members/breakup etc.
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I hope he's developed some trading system/plan now but if he still trades like what's shown in the video, he is probably not doing well in his trading and there is only so much a partner of a trader can take when that trader is constantly losing and that's probably where his cynicism is coming from if that's what you are sensing.
All of these Youtubers, they are all gambling. Listen to the first one, "I don't know which direction TSLA is going to pick..." so if he doesn't know which direction the stock is going, why is he going long then? What's the justification for that long trade? The stock price will go up because I bought it?? LOL He goes into the trade with no clear justification for the trade, no plan for exits when it does and no plan to salvage the trade when it doesn't go up and when it finally didn't go according to his directionless expectation, he knows he should stop the loss by exiting the trade by saying "I should have my stop and getting ready to stop it..." but in reality he does nothing but keeps hoping that the stock will bounce back at all the places that he feels that it should bounce back according to his previous observations and stare at the screen lamenting at the huge losses "it's very bad" while the loss just keeps piling up by the second... That's not how you trade.
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Patrick has a gambling get rich quick mentality that is why he consistently blows up his account and struggles to get from point A to point B. Technically, he's not that bad of a trader. Just terrible at handling the emotions from trading in an high risk/fast pace environment. He has no defined system or set of rules in place. Just trades on the fly hoping to strike gold on his very next trade.
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Read this sentence again and tell me how is it different from gambling on Russian (or is that sanctioned) Roulette in a casino? To say that he's a good trader technically is like saying somebody is good at placing the chips on the number(s) on the table.
I meant, he is not the worse technical trader. (if excluding the mental part.)
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Did the same as a newb. Eventually i forgot about him. Then, checked back upon him three years later & was kinda dissapointed that ,,nothing has changed".
He spoke in one vid, where by listening to him, i made a conclusion, that as a content creator, he have stuck in this loop of ,,chasing the views/what is hot/money" without much of improvement.
Plus, if you want to get better, you have to make sacrifices, and man was chilling, diving, etc.
Just my opinion.
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Speaking of humble i enjoyed a video of ''Humble Trader'' She made the big mistake, she noted , since as new trader she want to make much more \so she added a zero to her trading size/LOL.....
Some times she may using sarcasm\ she said something like her ex husband was a buy + hold bagholder, or something like that/
NO offence intended to those persistant market millionaires that buy + hold every month for 40 years/more poWer to you.......................................................................................