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What's the worst trading method you've ever traded?
Platform: market delta, multicharts, no matter how hard i try not too, i still use ninjatrader
Broker: amp/zen
Trading: cl,6e,nq,tf
Posts: 128 since Oct 2009
Thanks Given: 268
Thanks Received: 27
Well I started my trading career in the mid 90's - Started out trading options. I was coming home late one night and was listening to a radio show and only caught about the last minute of it, but something made stop and write down the 1-800 number. A couple of weeks later I get a package in the mail with a book and tapes and a video... Had some time off and plugged in the vid... Now I didnt know anything about the markets... Stock to me was cattle...that is about how much I knew about the markets... Anyways,... the system that I got was from WADE COOK... (some of you may remember him) Anyways, it at least get me started down the road of trading... I believe he is in jail now or was. But shoot I lost a lot of money with his system. To this day I have never bought a stock... I trade anything with leverage...
I swear to god if you open up any trading software for the first time without modifying the charts you'll see the worst combinations of bar types, colors, indicators etc. This is pretty much ubiquitous and almost comical. I have no idea why software designers do this but it's not very conducive to someone starting off on the right foot lol. Other than that I'd probably have to say the worst systems are ones that suggest any sort of martingale betting approach, astrology, or trading without a stop loss or proper hedging.
R.I.P. Joseph Bach (Itchymoku), 1987-2018.
Please visit this thread for more information.
correct. The worst practice possible is to grow and cultivate losers by adding more mistake to the initial mistake. One of the worst characteristics of this horrible bad practice is that if you get away with it bad decision will be reinforced and you will do it again.
Kill losers when they are little, period.
Yes I've done it and won but I've also done it and added years to the "walkin away number".
