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I love this video, I saw this a while back and forgot about it. Should be a must watch for every new trader. Forget Alexander Elder and the tripple screen, watch this video and there is trading without: a stop, a hedge, a put...
"Mr. Market you just F@#$ED Me.... NO DUDE YOU F#$@ED YOURSELF!" at 4:30 about.
Thanks for putting this up on the board for archive!
Can you help answer these questions from other members on NexusFi?
It is good for newbies to see what can happen. That "black Swan" event can and does happen..
He should have been trading a 1 lot with a stop and that couldn't happen..(Probably trying to get rich quick)
I think most good traders have had a bad loss and learned from it, to protect themselves.
This guy doesn't seem to have the proper attitude to be a trader.
It reminds me of the movie "Wall Street" when Gordon Gekko said "don't get emotional about stock, it clouds your judgement".. those are words that I never forgot..
I hold overnight, but 300 point on dow, for him to lose 25k.... He was doing at least a 15+ cars.... Thats pretty stupid. I've seen a 500+ gap on the dow before. You should be prepared for that.
btw... he mentioned that was his whole life savings.... thats 2k margin right there. you gotta have at least 200k+ to do that size and hold overnight. People make fun of others who open 2.5k accounts and trade futures. What he did was no different IMO
The reason most people are so far away from any success in trading is because they can't blame themselves. I am lucky to be born someone who always blamed myself and from that I always try to improve. You will never achieve anything in your life if you blame others for your own mistakes.
I hate how today children are raised to blame others. You can't teach a child to be disciplined, but you can make him learn to blame himself.
Thanks you, mom, for raising me right. She told me that only a few months ago. Blaming your own self and taking responsibility is the way to success.
Notice, how those soccerplayers who cry after missing a goal never play good. Look at what distinguishes Schuhmacher from others. Tony Hawk. Take anyone. They all have these mysterious feel to them. They always seem to be somewhere deep in thought. The portrayal of Bruce Wayne in Batman is actually exactly what a person must be like to succeed. Complicated and always deep in thoughts.
I just can't imagine Tony Hawk taking a skateboard and breaking it, if something goes wrong. It's just not him. Even if he did it, he still blamed himself and himself only for things not working.
"Successful trading is one long journey, not a destination" Peter Borish Former Head of Research for Paul Tudor Jones speaking on conversations with John F. Carter
Look at what distinguishes Schuhmacher from others. Tony Hawk. Take anyone. They all have these mysterious feel to them. They always seem to be somewhere deep in thought. The portrayal of Bruce Wayne in Batman is actually exactly what a person must be like to succeed. Complicated and always deep in thoughts.
