. . .That is quite a feat. 35% in a day.
Please don't encourage him hhiusa!
35% in one day usually means one thing: the trader is massively over leveraged. Along with quite a few other T2W members, I once turned $20k into $200k in a single day. Needless to say, it was a bit of fun on a demo account. People do that - and much better - on a regular basis in trading contests hosted by sites like
MyfxBook. It looks mightily impressive to those who don't know how it's done and they assume (wrongly of course) that it can be duplicated with real money on a live account.
There are a few plausible explanations for making a massive gain in a single day, but they are usually one-off events and down to luck rather than judgement, such as just happening to be short the Dow prior to the shocking news breaking on 9/11. Otherwise, no one can consistently return results this good - it simply doesn't happen. And those that try always end up the same way.
If stevepayne is foolish enough to be trading real money when he made his 35%, and he continues in the same vein, then he
will blow up sooner or later. It's not a question of
if, it's only a question of
when. My guess is that he'll make a few more boasts about impressive gains in his quest to find gullible punters and then, like everyone else before him, he'll suddenly stop posting. And when that happens, we'll all know the reason why.
Tim.
