scose-no-doubt
Veteren member
- Messages
- 4,630
- Likes
- 954
wouldn't
Of course, that place is not for the mentally unstable...they already have that in spades.
So in other words T2W is happy for its member base to be responsible for the vettingSadly, one or two members struggle to differentiate between constructive criticism and lulz. Polite and constructive criticism of someone's methodology - regardless of who it is - is fine and to be encouraged. Such criticism deserves respect and is likely to get a response. By contrast, posting rude and lulzy comments is counter-productive and unhelpful. It's annoying and offensive to the person it's aimed at and, unsurprisingly, they don't reply. More lulz then ensues and - this is the best bit - T2W admin and Mods get the blame! If you're addicted to lulz - you have my sympathy, but please don't blame others for your condition, or try and justify it by saying you're doing it for the benefit of the forum or gullible newbies etc. Newbies - gullible or otherwise - are repelled by it. And there's the irony. Far from saving them from the clutches of evil vendors, lulz drives them into their welcoming arms.
Tim.
You have my sympathy if anything I just said is not immediately apparent 😉
The current situation is far worse. We have decent content being deleted, decent members being banned (admittedly for infringements of the sites rules) and we have interviews with traders who openly admit to having no experience or expertese being promoted on the front page of the site.
Its funny, but a tad irresponsible really.
I normally only like saying positive things about people so,
1. Howard had the courage to post with his name and not hide behind an anonymous handle.
2. He has a thicker hide than a rhinoceros with full body and head armour plating.
3. Has finally accepted his plans were err.... inappropriate.
seriously...i think the "experienced traders" spent more than enough time explaining (short version, short vol=bad). its just sometimes people want to believe that the tooth fairy exists but self-esteem is a more powerful incentive than common sense or indeed losing money. (the whole thing reminded me of that old guy from million dollar traders on BBC, for some reason)
but basically, HC did something that anyone with common sense should know you shouldn't do (it isn't wrong and you can make money...you just probablly shouldn't do it). "experienced traders" pointed this out, it failed in the way they said it would...unfortunate, yes...suprising, no. either way, its adverse selection, the only people who would follow HC's method wouldn't know it was a bad idea...so i would say its pretty inevitable he ended up getting ripped and its pretty good that this board had people who told him beforehand how it would end....
Jack o'Clubs said:This is a really depressing post Jon because it proves that ultimately people like Howard will win.
Your point No.2 is completely incorrect, there were some very lucid, experienced posters (including a couple who are sell-side options market makers) who went into a lot of detail and entered into dialogue with Howard explaining why his strategy will not work in the long run. However, with Howard just bulldozing ahead, driving increasingly lulzy and ad hominem responses all that has been lost in the morass of his 20,000 page thread.
If you, as a mod and a trader, can't even recognise that there was some real wheat as well as chaff in that thread, then Howard has won, because prospective students will reach a similar conclusion with the sheer volume of bull**** preventing them from making a rational decision. In other words, if you want to become a vendor, then Howard's strategy is about as good as it gets.
I forgot #4, Howard
4. You know how to get attention........
PM sentok guys, I hold my hands up 😱 . I guess I got carried away by what came afterwards and understated the detail which the experienced traders gave initially.
jon
PM sent
oh the irony...
I'm packing my bags in San Antonio getting ready to fly home. I will have time this week to bring my bookkeeping up to date. It is so near the end of the month, I'm likely to wait and do everything with my normal end of month summary.Ah your back.
Now then...when are these results coming ?
Still averaging at abt 8% pm though eh?
Do you at least know how/why this happened?