i watched another video and the issue and there are lots of issues with this guy watts trading.
1. he truly is just a discretionary trader. he may throw up a band or whatever but that doesnt matter when all you do is keep adding hoping the mkt turns for you. you cannot scale this accurately.
2. daytrading requires capital to be deployed as efficiently as possible. this means that you have opportunity costs as you sit in losing trades and add to them waiting for the mkt to Hopefully comeback for you . drawdowns in the hundreds of dollars to thousands of dollars in the micro become tens of thousands of dollars in the mini and even worse when you scale. again add up his total drawdown vs his gain and no one would blink an eye at this ridiculously risky way to trade.
2b. the opportunity cost of trading 1 mkt all the time instead of simultaneously running multiples hurts his performance as well. he wont take losses and making money is not difficult in trading! its not about making money its about making lots of money not holding into a 900 dollar loss just to exit in 1 minute when you make 200 on the trade. again this is not scaleable and is more luck than anything else.
3. add up his total lots divided by gain then the amount of time in the trade for each lot! its silly how little money this guy claims to make by nursing small losing positions all day. there iui s no real babe ruth swing ever. a poiui nt where you know you go big. at some point you must realize that its not about just making 200 or 300 or 100 a day. thats peanuts.
How much has this watt persons lot size increased over the weeks? what is consistent ? only thing thats consistent is that he just adds to losers doesnt take losses and rarely adds to winners..
Prop shops would have let him go by now. his risk to reward to capital outlay would have him in the managers office everyday! the manager would say look..you cannot keep taking huge paper losses to make small gains we wont give you more money because other traders here take small losses to make huge large gains! thats how real traders make real money.
1. he truly is just a discretionary trader. he may throw up a band or whatever but that doesnt matter when all you do is keep adding hoping the mkt turns for you. you cannot scale this accurately.
2. daytrading requires capital to be deployed as efficiently as possible. this means that you have opportunity costs as you sit in losing trades and add to them waiting for the mkt to Hopefully comeback for you . drawdowns in the hundreds of dollars to thousands of dollars in the micro become tens of thousands of dollars in the mini and even worse when you scale. again add up his total drawdown vs his gain and no one would blink an eye at this ridiculously risky way to trade.
2b. the opportunity cost of trading 1 mkt all the time instead of simultaneously running multiples hurts his performance as well. he wont take losses and making money is not difficult in trading! its not about making money its about making lots of money not holding into a 900 dollar loss just to exit in 1 minute when you make 200 on the trade. again this is not scaleable and is more luck than anything else.
3. add up his total lots divided by gain then the amount of time in the trade for each lot! its silly how little money this guy claims to make by nursing small losing positions all day. there iui s no real babe ruth swing ever. a poiui nt where you know you go big. at some point you must realize that its not about just making 200 or 300 or 100 a day. thats peanuts.
How much has this watt persons lot size increased over the weeks? what is consistent ? only thing thats consistent is that he just adds to losers doesnt take losses and rarely adds to winners..
Prop shops would have let him go by now. his risk to reward to capital outlay would have him in the managers office everyday! the manager would say look..you cannot keep taking huge paper losses to make small gains we wont give you more money because other traders here take small losses to make huge large gains! thats how real traders make real money.