FT71 video - pretty brutal

[DionysusToast]

I watched this today - plenty of good lessons in there, especially for those starting out....

...but damn - pretty brutal for the poor girl whose performance he is reviewing....

VanKar Trading | 2012-12-20 Trader Spotlight - Jodie

ouch!

 

[x4x]

Thanks - a brilliant video - not often I can sit through an hour long trading video.

I actually thought he was very gentle with her.....!

 

[trendie]

good vid, DT.
I too thought he was quite supportive, and constructive.
he went through her trades, and illustrated how her losses could have been capped if she simply bailed out at appropriate times. this wasnt hindsight trading either, just number-crunching.

Your opening remarks suggested a chance to hear someone chew someone out, and thought it would be funny.
But it turned out to be quite a good analysis.

It didnt deal with any specific trading technique, just with how a specific traders losses could have been curbed, through analysing their trading journal.

 

[Shakone]

Is FT71 a vendor now?

 

[DionysusToast]

Is FT71 a vendor now?

Yup - best if you don't watch the video....

 

[Shakone]

Yup - best if you don't watch the video....

Too late. It wasn't so brutal, except that it bring back bad memories.

 

[DionysusToast]

Too late. It wasn't so brutal, except that it bring back bad memories.

Sigh... Now you have to go and wash off all that vendor scum....

Good stuff - it wasn't brutal from the perspective of how he talked to her... just brutal to go through that and have it aired publicly.

Gotta hand it to the girl - she obviously OK'd it. :clap:

 

[robster970]

Too late. It wasn't so brutal, except that it bring back bad memories.

We've all done this haven't we!!

 

[wackypete2]

We've all done this haven't we!!

No. I was profitable from my very first trade.
Of course the long string of losses for the next few years until my 2nd profitable trade was just a blip in my trading journey
A bit of drawdown, that's all :cheesy:

Peter

 

[ChocolateDigestive]

Listen to a vendor and you will enter a negative feedback loop 1 step forward 2 steps back. Rinse and repeat. It's the equivalent of hiring a morbidly obese person as a fitness coach. Sometimes I wish people weren't so dumb but then it would be harder to beat up the market.

I opened the video saw all the 5hit on the chart and closed it (after a ruddy good laughs I might add)

 

[BeginnerJoe]

Just a beginner making beginner's mistakes. I doubt other beginners will learn anything from that without having to go through the same mistakes themselves.

 

[DionysusToast]

Listen to a vendor and you will enter a negative feedback loop 1 step forward 2 steps back. Rinse and repeat. It's the equivalent of hiring a morbidly obese person as a fitness coach. Sometimes I wish people weren't so dumb but then it would be harder to beat up the market.

I opened the video saw all the 5hit on the chart and closed it (after a ruddy good laughs I might add)

Well - you made some presumptions and actually missed an interesting video.

This is a brokerage, seeing a retail client start to blow their account and having a chat with them about WTF it is they are doing.

I thought it was quite refreshing.

 

[BeginnerJoe]

I thought it was quite refreshing.

So a broker (aka vendor) protecting their meal ticket is now called refreshing ? A genuinely helpful person would say to the beginner: go play with a nano-account before betting your pennies on anything.

 

[ChocolateDigestive]

Well - you made some presumptions and actually missed an interesting video.

This is a brokerage, seeing a retail client start to blow their account and having a chat with them about WTF it is they are doing.

I thought it was quite refreshing.

Well each to his own I guess. I certainly wouldn't want to learn to trade from a broker for obv reasons.

 

[BeginnerJoe]

(some people feel grateful for this service).

So they should. If the beginner in the video carried on as she did, she would have loosed her blouse. If someone is incapable of learning by themselves sufficiently quickly, then any advice (even that from vendors) is better than no advice.

 

[neil]

So they should. If the beginner in the video carried on as she did, she would have loosed her blouse. If someone is incapable of learning by themselves sufficiently quickly, then any advice (even that from vendors) is better than no advice.

"LOST" ffs
0r "Lost his shirt" meaning lost his money

Loosening her blouse could be construed as rude and give Timsk palpitations

 

[ChocolateDigestive]

A genuinely helpful broker LOL


A cynic may say it's easier to have an edge where there are lot of traders like her. There are lot of 'educators' 'teaching' newcomers and thus provide cannon fodder all the time (some people feel grateful for this service).

oh for sure. in a zero sum game someone has to win and someone has to loose. Let's take the mirky world of spot FX, about 10% of the volume is retail (from my limited research). The remainder is volume from larger players in various forms. Let's say 95% of the retail money is lost, this goes to the larger players.

So these vendors are doing the profitable traders a favour increasing the amount of dumb money in the game, the trouble is not much of that retail money enters the real spot FX market it stays on the bucketshops books.

it's good fun baiting vendors and when you finally work out how to beat up the market (if ever) you finally realise how it just simply wouldn't be worth being a vendor ever.

most retail traders do not understand the role of all the different participants in their chosen market and that is usually enough to be fatal.

 

[ChocolateDigestive]

this should clear a few things up lol

Trading and Exchanges: Market Microstructure for Practitioners Financial Management Association Survey and Synthesis Series: Amazon.co.uk: Larry Harris: Books

656 pages enjoy.

 

[ChocolateDigestive]

I agree - most likely more than 90% looose, so the bucketshops don't have to do anything - no hedging, no real market.

PS I've heard this from one of the owners

I would imagine they have to do very little. I have not researched much into the finer points of bucketshops. I would imagine they they just look at their net exposure and net off the exposure they dont want. pretty good way to coin it.

 

[BeginnerJoe]

Loosening her blouse could be construed as rude and give Timsk palpitations

Regardless, this is what the beginner in the video has to do. Once all her money are gone, the quickest way to make a come back would be to loose her blouse.