Video of a trader blow up Today, NSFW lol
- Thread starter jtnet
- Start date
I think you can learn from this simulator or not. People who have had major drawdowns probably started "simulating" those feelings of drawdown; I know I did. You can't teach the stomach as they say. Interesting reactions to this guy ranging from pity to screw him he's a gambler.
http://www.youtube.com/watch?v=87OnSTN3SHk
Here is the prior video. In a sub million dollar account, you open up down $7,000 plus , you better be hedging or praying. I know any good trader would hedge then try to figure out what to do. It allows you to breathe. Now if you go full on with the postion so you can't hedge you are fu**ed. Good trading.
http://www.youtube.com/watch?v=87OnSTN3SHk
Here is the prior video. In a sub million dollar account, you open up down $7,000 plus , you better be hedging or praying. I know any good trader would hedge then try to figure out what to do. It allows you to breathe. Now if you go full on with the postion so you can't hedge you are fu**ed. Good trading.
This could be a huge opportunity for newer traders to learn.
1. I have no idea "how" he trades, but his name "highprobabilitytrader" ignites fear in me. Everyone would love to be this. To have 75+% of the trades be winners; to take no heat ... etc. You are trading not to lose. You trade so you can WIN.
Lesson: It is easy to be a high probability investor. It is not easy to be a high probability trader. If you think you are, or can be; you are 'probably' headed for trouble.
2. In his early video (when down $7000+). During the Martin L. King part you can actually SEE the wrong decisions being made. Watch his eyes. Listen to what he says. He knows in his bones to get out. It is his "brain" that keeps him in.
Lesson: Hope, Dreams even Fear have NO place. IMO, many claim that you need to experience huge losses, or blow-out to learn this. BULLSHIT, if anyone blows out, or takes a large order of magnitude loss; they were gambling, they were not trading. Many never came/come close to blowing out. You must understand Down-Draws, and the second things seem abnormal you need to act.
3. I also have no idea of this guys account, but any single position that can blow a trader out is ridiculous.
Lesson: Just trust me; YOU HAVE to be well capitalized. Maybe, there are a few people who were prodigies (more likely lucky). Maybe, someone made millions trading multiple lots starting with $2000, $5000 or even $10,000. IF, this is you; you are betting on being that one in 1,000,000. Just for the record I am comfortable trading 1 ES for every $10,000.This is ONLY if I am monitoring the position in real time. Overnight, I am uncomfortable if it is more than 1 per $35,000. If you can't afford to trade futures ... DON'T. Trade the SPY etc.
It is unfortunate that this person had to DO this. It is possibly fortunate for some that it is viewable.
Note: I, and this guy, am obviously not a scalper. I have never understood how someone 'scalps'. I say this because I am sure some scalper will claim that I am insane.
Edit: I just read some more of his blog. Amazing.
1. I have no idea "how" he trades, but his name "highprobabilitytrader" ignites fear in me. Everyone would love to be this. To have 75+% of the trades be winners; to take no heat ... etc. You are trading not to lose. You trade so you can WIN.
Lesson: It is easy to be a high probability investor. It is not easy to be a high probability trader. If you think you are, or can be; you are 'probably' headed for trouble.
2. In his early video (when down $7000+). During the Martin L. King part you can actually SEE the wrong decisions being made. Watch his eyes. Listen to what he says. He knows in his bones to get out. It is his "brain" that keeps him in.
Lesson: Hope, Dreams even Fear have NO place. IMO, many claim that you need to experience huge losses, or blow-out to learn this. BULLSHIT, if anyone blows out, or takes a large order of magnitude loss; they were gambling, they were not trading. Many never came/come close to blowing out. You must understand Down-Draws, and the second things seem abnormal you need to act.
3. I also have no idea of this guys account, but any single position that can blow a trader out is ridiculous.
Lesson: Just trust me; YOU HAVE to be well capitalized. Maybe, there are a few people who were prodigies (more likely lucky). Maybe, someone made millions trading multiple lots starting with $2000, $5000 or even $10,000. IF, this is you; you are betting on being that one in 1,000,000. Just for the record I am comfortable trading 1 ES for every $10,000.This is ONLY if I am monitoring the position in real time. Overnight, I am uncomfortable if it is more than 1 per $35,000. If you can't afford to trade futures ... DON'T. Trade the SPY etc.
It is unfortunate that this person had to DO this. It is possibly fortunate for some that it is viewable.
Note: I, and this guy, am obviously not a scalper. I have never understood how someone 'scalps'. I say this because I am sure some scalper will claim that I am insane.
Edit: I just read some more of his blog. Amazing.
I went through his blog. He's been trading for 2 years from california. Has a day job but takes advantage of the time zone to trade the markets. Considers himself a professional daytrader.
Seems to possess an above average intelligence. He has done a lot of study in trading the markets. Market profile, scalping, arbing, ETFs, stocks, futures, program trading etc. He has constantly been searching for an edge but has never found it.
He traded off of a simulator in the beginning and when he wants to test out new strategies.
It appears the blowup was real.
I couldn't find out his ET handle.
Seems to possess an above average intelligence. He has done a lot of study in trading the markets. Market profile, scalping, arbing, ETFs, stocks, futures, program trading etc. He has constantly been searching for an edge but has never found it.
He traded off of a simulator in the beginning and when he wants to test out new strategies.
It appears the blowup was real.
I couldn't find out his ET handle.
In my opinion, no real trader would find any joy in this guy's blowup.
To those who have never sat there watching the equity slide away, with that burning feeling in the pit of your stomach while questioning your very existence. Consider yourselves lucky. Your 'Black Swan' event may be just around the corner.
Karma is a bitch, and has a way of coming back to bite you in the ass.
To those who have never sat there watching the equity slide away, with that burning feeling in the pit of your stomach while questioning your very existence. Consider yourselves lucky. Your 'Black Swan' event may be just around the corner.
Karma is a bitch, and has a way of coming back to bite you in the ass.