Trader Loses $377,000 Day Trading TSLA

realtrades said:
Again, if you call buying big or shorting big at support and resistance, and then turning around and closing the trade in seconds or minutes learning to trade, then good on you, he even admitted when called out, his strategy requires one to be super fast on entry and exit like him.
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Well I'm not interested in that.

I've come to realize that the only true "trading" that a person can do and even pretend to base it on reality is if they're holding positions for months or years.

Think...

Buying banks at the bottom of the Recession. Because you plan to hold them until times get better. The problem is that I don't know of any way to do that in a "leveraged" fashion without experiencing lots of time decay/contango effects.
 
realtrades said:
Again, if you call buying big or shorting big at support and resistance, and then turning around and closing the trade in seconds or minutes learning to trade, then good on you, he even admitted when called out, his strategy requires one to be super fast on entry and exit like him.
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Right, he is trading based on reading the tape (level2+tns), so yeah he is fast and that’s part of his edge as a scalper. He doesn’t say it’s for everyone.
 
He has shorter ones, but it's the same thing, buy here, short here, and get out in seconds or minutes, but this is nothing new, there is a guy Clay whatever who does the same thing and only charges $300 for the whole year, instead of $100 per month, I guess he wants to help people more:rolleyes:
 
realtrades said:
problem is support does not always hold, and resistance does not always get rejected, and you get killed if that happens, he's survives, because he has sub money coming in, and if you really want to help people, you don't have to charge $100 a month, there are a ton of free discords, chat rooms, live youtubers, twitch, on and on.
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True, but 70-80% of the time it does just that. Only about 10-20% of bars on a given day would be considered BO bars. Which is why when he loses he loses big and why more times than not he is able to capitalize on his trade. The same reason why he loses when reading T&S. Which can be inaccurate given how the broker wants to display it. Sometimes they save up and combine a whole bunch of trades in a given time frame and make it seem like it is 1 trade.

As far as @farmerjohn1324 - If you are hedging every single trade you take on options, and you dont own the stock, you will lose money in the long run. You cant mitigate risk like that. Better to mitigate risk by account size and deal with the losers.
 
@realtrades, by all means choose any guru you want, or don’t. My only point is that I welcome these guys showing their trading styles. This was not available before to retail traders.

Obviously, be careful with your money. Or as Livermore taught his sons : “Always have your money close to your balls and don’t let anyone near it” :)
 
IamTheCasino said:
True, but 70-80% of the time it does just that. Only about 10-20% of bars on a given day would be considered BO bars. Which is why when he loses he loses big and why more times than not he is able to capitalize on his trade. The same reason why he loses when reading T&S. Which can be inaccurate given how the broker wants to display it. Sometimes they save up and combine a whole bunch of trades in a given time frame and make it seem like it is 1 trade.

As far as @farmerjohn1324 - If you are hedging every single trade you take on options, and you dont own the stock, you will lose money in the long run. You cant mitigate risk like that. Better to mitigate risk by account size and deal with the losers.
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The reason I would lose statistically over time is basically the bid/ask spread or commission. If I don't hedge, my "big wins" will cancel out my "big losses" and it amounts to the same thing.

It all boils down to being able to predict something. And to only make trades when I have good reason to think I will win. That's why I'm not worried about my RBM21 (Gasoline futures June 2021) even though I'm down $8,000 right now ($0.0538/contract) because I still think it will go up. This is based on a long-term economic view. Although I am starting to slightly worry about contango effects.
 
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