September 1st: Trader Analysis

  • Shepton
    Posted at 17:25h, 13 September Reply

    FT71, great advice. It’s hard to add to what you’ve stated. If I am at my best it’s because I’ve kept risk low (ideal, just as an example is 1%) perhaps a little more with experience. I start my day light (when I am smart about trading), as I am at least groggy first thing. I find that I am not fully in sync with the market (or sure all my toes are work for that matter). Losing 8 ticks (or whatever SL you use)is not so hard then. It lessens the temptation to add on, double down, etc. Regrouping and recouping (sorry) is less emotional.

    I’ve lost myself many times, too.

    Good Luck.

  • jimbob
    Posted at 18:26h, 11 October Reply

    > > I Just listened to your interview/intervension with the trader who blew
    through 130K. I was transfixed, I swear I could feel that man’s pain as
    he was recounting his trading history. That was the most real thing on
    trading I have ever heard, absolutly stunning! I think everyone who
    should listen to that webinar. Thank you so much Mr. trader who ever you
    are for sharing yourself so completely, you have made me a better trader,
    and thank you FT71 for the very insightful and caring way you dealt with
    his pain. Most commendable.

  • shorty
    Posted at 17:29h, 19 October Reply

    Thanks Ft71 and Thanks to the trader featured for sharing. Ive struggled with the cycle of working hard succeeding and then letting the money come into focus, only to then fail multiple times. this was enlightening for me

  • bossman
    Posted at 18:19h, 16 January Reply

    Wow..just wow! I’ve never heard anything as real as this. This interview should be required listening for all new futures traders who are young. It was Seykota who once said that all traders trade for different reasons. Don’t assume that everyone trades for profit or for sound trades. That said, this trader seems to be trading for self-worth. He attached his emotional self worth to his P/L. And since he is trading OPM his risk/reward gets skewed during drawdowns. From there his monkey goes into gamble mode and runs a martingdale to “redeem” himself.
    After his losses add up, he responds by getting aggressive because maybe his rep and family status are now in play.
    A RECIPTE FOR DISASTER. A trader with 2yr experience trading 12 lots. Really?…seriously?
    This interview is a minefield of violations of a gambler who wil now begin his journey into TRADING.
    A case study in how we are our worst enemies NOT the market.
    FT handled this like a Jedi.

    • FuturesTrader71
      Posted at 16:49h, 17 January Reply

      Behavior modification is not easy. It is one of the largest challenges we face in a lifetime. I can only hope that this particular trader overcomes his monkey and can achieve his greatest desires as a trader.

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