Hope Dies Last - 8 years as a day trader

cantagril

Senior member
3,239 961
Daytrading + counter-trend trading + over-sized positions = failure.

I'm only impressed he stuck it out so long.

Indeed!

IMHO that recipe should have cleaned him out a lot sooner. Anyway, he's nothing if not tenacious:rolleyes:

It's a pity none of his mentors/coaches told him the adage "Learn for free, practice cheap and trade for profit", as it appears that after so long he might have been beginning to get the hang of it.
 

0007

Senior member
2,376 660
It's a long, sad story but you've got to admire this guy's persistence (and the size of his wallet!). I've long thought that some (possibly most?) people are just not cut out for trading but of course, the trading industry ain't gonna tell you that and, after you've been subjected to their barrage of "you just need to get your head right" it's not surprising that their unknowingly-brainwashed victims press on regardless.

I suspect that T2W is one of the few places where, if you put your trading cards on the table, someone will tell you the hard facts of life – unpalatable as they may be - if your results are less than promising. How many people could have saved themselves loads of dosh if they had realised early on that trading is not their forte? It's almost as if it's something to be ashamed of – yet in any other skilled profession (and that's what successful trading is) people who don't make the grade just move on to something else more suitable. Again, the trading industry isn't going to encourage that, is it?

There is also the psychological theory that some people just want to be "punished" and are willing to pay for the experience. But surely there are cheaper ways? I suspect however, that the attraction of "get rich quick – anyone can do it" will always trump commonsense.
 
Last edited:
  • Like
Reactions: tomorton

fibo_trader

Legendary member
7,697 131
Daytrading + counter-trend trading + over-sized positions = failure.

I'm only impressed he stuck it out so long.


Post is from an ET poster. Figures. They all pile on and kill their own - same sh*t, different forum


Lesson for the one or two who want to escape the stupidity of a HERD:

Attack one their own weakened ones especially if he is already mauled by a lion, but escaped with gaping wounds - that way he will be eaten first and WE (the rest of us) have better odds of surviving. So let's gang up and attack this poor fellow and make him weaker by destroying what's left of his psyche.

Of course, inherent in such attacks against their own is the concept that they (the gangbangers) KNOW BETTER.

Attack this op and the lot of you are f*** p*****s
 
  • Like
Reactions: cantagril

fibo_trader

Legendary member
7,697 131
op has made giant strides on his road to success. Hiatus is to be expected. Self-examination and destructive inner forces to be expected. All part of growth. If there in resides a champ, he will emerge soon just as surely as night follows day.

I await his return.

Good luck
 
  • Like
Reactions: LeslyTarqTow

tomorton

Legendary member
8,144 1,227
Post is from an ET poster. Figures. They all pile on and kill their own - same sh*t, different forum


Lesson for the one or two who want to escape the stupidity of a HERD:

Attack one their own weakened ones especially if he is already mauled by a lion, but escaped with gaping wounds - that way he will be eaten first and WE (the rest of us) have better odds of surviving. So let's gang up and attack this poor fellow and make him weaker by destroying what's left of his psyche.

Of course, inherent in such attacks against their own is the concept that they (the gangbangers) KNOW BETTER.

Attack this op and the lot of you are f*** p*****s


I think it always best to post just what you're thinking, in a colloquial manner.

Anyway, what point are you making?
 

LeslyTarqTow

Junior member
18 3
The darkest hour is just before dawn
It's a long, sad story but you've got to admire this guy's persistence (and the size of his wallet!). I've long thought that some (possibly most?) people are just not cut out for trading but of course, the trading industry ain't gonna tell you that and, after you've been subjected to their barrage of "you just need to get your head right" it's not surprising that their unknowingly-brainwashed victims press on regardless.

I suspect that T2W is one of the few places where, if you put your trading cards on the table, someone will tell you the hard facts of life – unpalatable as they may be - if your results are less than promising. How many people could have saved themselves loads of dosh if they had realised early on that trading is not their forte? It's almost as if it's something to be ashamed of – yet in any other skilled profession (and that's what successful trading is) people who don't make the grade just move on to something else more suitable. Again, the trading industry isn't going to encourage that, is it?

There is also the psychological theory that some people just want to be "punished" and are willing to pay for the experience. But surely there are cheaper ways? I suspect however, that the attraction of "get rich quick – anyone can do it" will always trump commonsense.
Yup. I wouldn't have expected any of those coaches to fix my situation or deal with my psychology in any depth, but it was strange that they never asked about my trading history. I guess it's naive to think anyone was going to turn me away when I had credit card at the ready. Plus, at the time, I would probably have ignored their advice anyway
 

0007

Senior member
2,376 660
Yup. I wouldn't have expected any of those coaches to fix my situation or deal with my psychology in any depth, but it was strange that they never asked about my trading history. I guess it's naive to think anyone was going to turn me away when I had credit card at the ready. Plus, at the time, I would probably have ignored their advice anyway

I think we should also thank you for your honesty & willingness to relate your experience – I know I would rather keep some of my more dubious trades to myself! But it seems that you are now being honest with yourself – that's a big lesson to learn and I''d be the first to admit that it didn't come easy to me either.
 

fibo_trader

Legendary member
7,697 131
I think it always best to post just what you're thinking, in a colloquial manner.

Anyway, what point are you making?


Help him, Man! You just don't hammer a fella on the ground on his knees who has just taken a beating by forces so much larger than us all. Give him credit for trying and trying and trying. Failure is part of the game, has been and always will be. For cryn out loud at least bring him a cup of hot tea
 
  • Like
Reactions: Stan1T

tomorton

Legendary member
8,144 1,227
Help him, Man! You just don't hammer a fella on the ground on his knees who has just taken a beating by forces so much larger than us all. Give him credit for trying and trying and trying. Failure is part of the game, has been and always will be. For cryn out loud at least bring him a cup of hot tea



I was deadly serious and trying to be concise and helpful when I posted -
"Daytrading + counter-trend trading + over-sized positions = failure."

I never day-trade, only long-term using only daily charts.
I only trend-follow.
My positions are maximum 1% account capital risk.

I trade this way and am making money. I hope my example can be followed with a bit more success, a bit less risk but feel free to add your suggestions too as they might help, as there are many ways to win at this game, not just mine.
 

cantagril

Senior member
3,239 961
Help him, Man! You just don't hammer a fella on the ground on his knees who has just taken a beating by forces so much larger than us all. Give him credit for trying and trying and trying. Failure is part of the game, has been and always will be. For cryn out loud at least bring him a cup of hot tea

What "help" are you suggesting?...besides the cup of tea. I also don't get what you mean by "you just don't hammer a fella on the ground on his knees".... Tom* did mention the fast-track-to-ruin formula but I didn't see that as a criticism of Inkpot but as an observation of something we have all learned, one way or another ....and my own comment about professional coaches was to point out their own self-interest rather than to mock someone who's just taken a beating.

I would hazard that he knows pretty much what he did and didn't do (and why) and obviously regrets the whole experience - as would anybody in their right mind. The fact that he's chosen to stop the haemorrhage is proof that he recognises his part in the story.

I reckon that if he did want to try his hand again that he would not choose to repeat the performance in the same way and would probably approach things very differently.Personally, and right now, I wouldn't dream of offering any advice, after the horse has bolted, as that would seem to be merely adding insult to injury.


* just seen you beat me to it :rolleyes:
 
  • Like
Reactions: tomorton

fibo_trader

Legendary member
7,697 131
What "help" are you suggesting?...besides the cup of tea. I also don't get what you mean by "you just don't hammer a fella on the ground on his knees".... Tom* did mention the fast-track-to-ruin formula but I didn't see that as a criticism of Inkpot but as an observation of something we have all learned, one way or another ....and my own comment about professional coaches was to point out their own self-interest rather than to mock someone who's just taken a beating.

I would hazard that he knows pretty much what he did and didn't do (and why) and obviously regrets the whole experience - as would anybody in their right mind. The fact that he's chosen to stop the haemorrhage is proof that he recognises his part in the story.

I reckon that if he did want to try his hand again that he would not choose to repeat the performance in the same way and would probably approach things very differently.Personally, and right now, I wouldn't dream of offering any advice, after the horse has bolted, as that would seem to be merely adding insult to injury.


* just seen you beat me to it :rolleyes:


:)More generalities, circular motion with the right hand. "What help are you suggesting?" Your method or part of it that has worked for you. Start with ground zero. Be specific. Give him a hand starting from basics and let him work his way up. specifics instead of I told you so.

I'll start the ball rolling for you gangbangers ....................

Price chart no indicators just place a 15x30 exponential period moving average on it. Then go back and revisit all the failed trades and see if this would alter the outcome. No fundamentals, no other stuff, no CNBC, no experts no earnings reqd. Just Price and the ema combo applied to your time frame of choice. NO indicators in lower panel allowed for this venture. Scaling is Log scale.
 

fibo_trader

Legendary member
7,697 131
Personally, and right now, I wouldn't dream of offering any advice, after the horse has bolted, as that would seem to be merely adding insult to injury.


* just seen you beat me to it :rolleyes:



Clown! The horse ain't bolted. Had he bolted it would be resolved in his psyche - he would walk away from the whole thing and wash his hands off the nightmare and not post here no more. The horse is screaming in agony for help. The opening post bellows that he don't want to quit but is asking for an experienced friend(s) to step in and assist him. That's you. Get to it.

Oh and by the way, this op is clearly no run of the mill take it in the yazoo newbie. He's been around you know. He has seen. This cat is a different animal. Can't you clowns see that?
 
 
AdBlock Detected

We get it, advertisements are annoying!

But it's thanks to our sponsors that access to Trade2Win remains free for all. By viewing our ads you help us pay our bills, so please support the site and disable your AdBlocker.

I've Disabled AdBlock