Why do they do it?

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Hmm, it might. Thus buy the put spread, and take profit once it gets to 30% of its full value?

But buying low delta payouts leads to a high number of losing trades with the occasional winner, our cognitive bias don't like that, no sir!
 
DionysusToast said:
Pay for the trading thing, you lose your life savings.
Click to expand...

There are one or two cases that I'm aware of where individuals topped themselves when the realisation finally hit them that their guru wasnt all quite he made out to be.

Still its a big boys game and their loss is our gain.
 
I'm completely at odds with 95% of posts in this thread.

Let me try and explain something. If you have an expectation of a trade direction, then the thing that proves the trade is the delivery of that expectation...in other words...when you are in the zone and things are going your way, that is the time to milk it for all it's worth.
It's exactly the same thing with Robster's poker quote. You have to press your advantage when that time comes.
When a boxer has someone on the ropes, he doesn't back off...he steps up his game to try and finish the job off !
 
counter_violent said:
I'm completely at odds with 95% of posts in this thread.

Let me try and explain something. If you have an expectation of a trade direction, then the thing that proves the trade is the delivery of that expectation...in other words...when you are in the zone and things are going your way, that is the time to milk it for all it's worth.
It's exactly the same thing with Robster's poker quote. You have to press your advantage when that time comes.
When a boxer has someone on the ropes, he doesn't back off...he steps up his game to try and finish the job off !
Click to expand...

When I first read that, I read broker not boxer :cheesy:
 
counter_violent said:
I'm completely at odds with 95% of posts in this thread.

Let me try and explain something. If you have an expectation of a trade direction, then the thing that proves the trade is the delivery of that expectation...in other words...when you are in the zone and things are going your way, that is the time to milk it for all it's worth.
It's exactly the same thing with Robster's poker quote. You have to press your advantage when that time comes.
When a boxer has someone on the ropes, he doesn't back off...he steps up his game to try and finish the job off !
Click to expand...

Add evidence of winners mentality.
Even the player name choice is designed to make the opposition doubt themselves.😆
 

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meanreversion said:
I watched Hougaard's room for a few days.. he alerts you to what he is about to do, "get ready to buy eurusd", then there'll be a pause of a few minutes and he'll type "ok bought at 52".. at which point you look at the screen and see a rate of 53/54.

That's not to say that he didn't buy at 52 of course, it's just that it's very hard for the user to replicate.

His website carries links to the Saxo platform, so it's a safe bet he'll get a rebate from any of his subscribers who sign up to that platform. But fair play to the man, he's putting his calls out there and his record is pretty good.
Click to expand...

I'm not impressed with the results: October +72 points, November +139 and Dec. -14
 
DashRiprock said:
well look obviously there are going to be bad examples of people paying loads of money for courses and things which are bad

but to say that everybody who coaches or trains other traders is a phoney is well wrong.
Click to expand...
Hmmmm,..

Looks like David Robertson aka "MrSpread betting" In disguise....
 
I think there are 2 main reasons for antagonism
1. The much hyped expensive course can't be got to deliver.
2. The vendor nearly always seems to imply he still has some better secrets up his sleeve and is not telling. So there !
 
Vendor provides 'answer to problem'. Retail punter transfers problem ownership to vendor instead of realising it's of their own making.

There will never be a shortage of retailers living in denial. Vendors provide a service for them - to make themselves feel better. Endex.

Conversely I believe good mentors serve a different purpose and you probably already know how to trade in a basic sense before you'd get value from a mentor. They are not there to tell you how to do it, more to impart nuance and wisdom that shifts you up a gear.
 
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robster970 said:
Vendor provides 'answer to problem'. Retail punter transfers problem ownership to vendor instead of realising it's of their own making.

There will never be a shortage of retailers living in denial. Vendors provide a service for them - to make themselves feel better. Endex.

Conversely I believe good mentors serve a different purpose and you probably already know how to trade in a basic sense before you'd get value from a mentor. They are not there to tell you how to do it, more to impart nuance and wisdom that shifts you up a gear.
Click to expand...

Let's face it - anyone that's really any good does not want to be teaching monkeys that don't know what a limit order is...
 
counter_violent said:
I'm completely at odds with 95% of posts in this thread.

Let me try and explain something. If you have an expectation of a trade direction, then the thing that proves the trade is the delivery of that expectation...in other words...when you are in the zone and things are going your way, that is the time to milk it for all it's worth.
It's exactly the same thing with Robster's poker quote. You have to press your advantage when that time comes.
When a boxer has someone on the ropes, he doesn't back off...he steps up his game to try and finish the job off !
Click to expand...

Depends on the type of trading you are doing. I've read Phantom or the Pits and he says that you can't be succesful if you don't scale in to a winner. I've never met that guy but I know people that scale out of trades very succesfully.

On a long, scaling in averages up your price and scaling out averages it down. Averaging up your price moves UP the place you'll break even and the place you'll start to lose. It's not something I'd be comfortable with. Certainly if I were to do it, it would have to be pyramid fashion - that I'd probably be able to live with.

I don't think either way is right or wrong but I do feel that day trading is more suited to scaling out than scaling in. Now of course, if you scale out - you don't need the same position size each time, you might go 'all in' on a trade because you feel it's more likely to work out.

Obviously, on way allows you to be in a trade before 'pushing it' and another way requires you to have a clue from the start. If you have no feel for the chance of a specific trade working out, you can't really commit more to any it.

BTW - the phantoms book is free - let me know if anyone wants it. It's a good read.
 
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