Yeah, he's wrong. About almost everything he says. What makes him even more wrong is that he is "100% sure". I often add at the end of my posts something like "i could be wrong". But this guy talks as if he were infallible, which is upsetting.
You don't have to
first become profitable as a discretionary trader, in order to
then become a profitable automated trader. I actually just met an automated trader, who is a professor of statistics and he even loans his systems (to millionaires) for a percentage of returns. He told me he didn't place one discretionary trade in his life: just one for a technical test (so it was not a
discretionary trade, but just a
manual random trade) and he immediately closed it. He is profitable, his systems are so good that millionaires want them, and yet he never placed a discretionary trade.
You don't put all your time and energies into teaching an idiot computer how to take your place.
The "idiot computer" this guy talks about, is much better than a human at
not doing the things that cause humans to lose: impatience, emotions...
"Idiot computer" is always objective, doesn't do any revenge trading, nor doubling up on losing positions. He doesn't get impatient nor trades out of boredom. "Idiot computer" does each time and without efforts what most humans cannot do with their best efforts.
Then, you can do anything in the markets you set your mind to.
Wow, by now this guy owns the world, because with his will power, he can do anything he sets his mind to. He's richer than Bill Gates by now, but somehow managed to stay unknown. Or maybe he is Warren Buffett. We should be honoured to have heard his advice... not! Nothing could be further from the truth. If you have stand in front of a truck, armed with all your will power, you won't stop the truck, but you will just die. You cannot do all you want thanks to your will power.
you need to face the market head-on yourself and succeed there first
This above and your concept of "facing the challenge" is exactly the attitude that caused me to lose money for 12 years of discretionary trading. Wanting to do what I could not do. Sure, a few people can control their emotions, their impatience, and all that you need to control while trading. But I couldn't. Why did I have to be so stubborn and go the hardest way about it? Probably because I used to be like that guy: I felt I could succeed at anything I set my mind to. And I didn't want to "quit" ("quit" meant in a negative way). But instead with some things it's better to "quit" immediately.
As I said in another post, "quit" can be meant in two ways:
1) "quitting" a race, which is considered bad
2) "quitting" drugs, which is considered good
With trading you don't really know if you're dealing with a drug or if you're in a race, so you don't know if you should "quit" because you're trading out of addiction (compulsive gambling), or if you should not "quit" because you shouldn't give up until the finish line.
I think you should quit in both cases, because even if had no elements of addiction and if it were just a race, you should not be in a competition just for the sake of it. Competing is not good in itself. "No pain no gain" is bull**** in many cases. You can achieve more by using your brain than by using your pain.
Just thinking out loud. I am not 100% sure about anything I said.