I'm a short-tempered person; patience has NEVER been one of my virtues. I particularly cannot, and do not want to put up with people who are inconsiderate and ungrateful.
Just read a blog post where the author talked about a loss he had to take on a simulated trade- when asked about his stop loss, he had identified by name the person he had adopted the stop strategy from.
3 issues I have here: first, the stop strategy is NOT meant for the instrument he is now trading; second, one should never adopt another's stop strategy if he doesn't have his risk appetite; third, there's absolutely no need to name someone on your blog unless you have something good to say about him/her.
I'm mad because the person implicated is an honest man who had simply shared the way he's been trading, and has no idea his student has put him on the spot. The method works for him, and the stop loss is an amount he can totally afford. He can make money using his method because he seriously does not care about the typical chops we see these days and basically just sits through them. You can call him a quasi swing trader. It's just that he prefers to close out his position by the end of the day. He always teases me about my grab-and-run method, and I always ask why he won't cut his loss and reverse his position. But at the end of the day, we respect the fact that we are 2 different individuals and he can only do so much to get me to see the benefit of letting my profits run, and I have a lot of respect for his lack of fear and greed. He knows to take a good profit, and sit calmly through noise. I can't, so I stick to my own style, and if I don't say, no one's going to be able to tell that he's the one who taught me to trade futures. If not for him, I wouldn't have touched futures. I am always going to be grateful to him for calling me personally after I sent him an ultra depressing (I was scalping options then and had cleaned out a huge chunk of my daytrading account) email in May last year - when I was just one of his hundreds of students whose name I bet he could barely remember.
To sum it all up, I don't like it that a good person is being implicated. And he's probably not even going to know that he has been, coz he hasn't a cult following and informants to keep tabs on what others are saying about him. He keeps to himself and minds his own business.
I like to mind my own business too, and my family and friends are my business.
So, I've de-linked the blog in question.
I had meant to leave a comment but dropped the idea.
That's his space. He can say what he wants.
My impression is that we share a common readership, so I'm clearing my teacher's name here on my own blog.
Just read a blog post where the author talked about a loss he had to take on a simulated trade- when asked about his stop loss, he had identified by name the person he had adopted the stop strategy from.
3 issues I have here: first, the stop strategy is NOT meant for the instrument he is now trading; second, one should never adopt another's stop strategy if he doesn't have his risk appetite; third, there's absolutely no need to name someone on your blog unless you have something good to say about him/her.
I'm mad because the person implicated is an honest man who had simply shared the way he's been trading, and has no idea his student has put him on the spot. The method works for him, and the stop loss is an amount he can totally afford. He can make money using his method because he seriously does not care about the typical chops we see these days and basically just sits through them. You can call him a quasi swing trader. It's just that he prefers to close out his position by the end of the day. He always teases me about my grab-and-run method, and I always ask why he won't cut his loss and reverse his position. But at the end of the day, we respect the fact that we are 2 different individuals and he can only do so much to get me to see the benefit of letting my profits run, and I have a lot of respect for his lack of fear and greed. He knows to take a good profit, and sit calmly through noise. I can't, so I stick to my own style, and if I don't say, no one's going to be able to tell that he's the one who taught me to trade futures. If not for him, I wouldn't have touched futures. I am always going to be grateful to him for calling me personally after I sent him an ultra depressing (I was scalping options then and had cleaned out a huge chunk of my daytrading account) email in May last year - when I was just one of his hundreds of students whose name I bet he could barely remember.
To sum it all up, I don't like it that a good person is being implicated. And he's probably not even going to know that he has been, coz he hasn't a cult following and informants to keep tabs on what others are saying about him. He keeps to himself and minds his own business.
I like to mind my own business too, and my family and friends are my business.
So, I've de-linked the blog in question.
I had meant to leave a comment but dropped the idea.
That's his space. He can say what he wants.
My impression is that we share a common readership, so I'm clearing my teacher's name here on my own blog.
9 comments:
First of All - WOW! This new look is just awesome!
Coming to your post, I agree nobody should blame others for their losses, but, this is what many do and its better to not pay attention to them.
For me its simple - If you understand the risks involved in a trade, only then do it. Nobody is GOD and everybody has his/her own way of stops depending on personal risk appetite.
Harry honey!! :-)
I'm never bothered unless people I love are hurt by unfair remarks and treatment.
Yes, I always think a person is responsible for any trading decision he's made. Maybe I'm over-reacting - I just think it's not fair that he's led people into thinking that he's been taught to take ridiculous risk. I wouldn't have said a thing had he not mentioned the person's name. He's not 12. He ought to know how effective bad word of mouth is. If someone were to google the teacher's name and find himself on that particular post - what kind of impression would he/she be walking away with?
Jules,
I agree with you. Every trader must take what they have been taught and make it their own. Every trader must become a master of their own risk/reward ratio. When a trader blames their teacher for a loss then they have failed as a student. Blaming another for a loss also pushes the trader further from their goals.
On another note, apparently June comes earlier in Singapore than it does on this side of the planet! LOL ;)
Al's book google review
http://tinyurl.com/ofp6n3
Daytrader,
I hail from planet venus. It's June everyday if I want it to be. LOL!
Cory :-)
I was going over the sneak preview and feeling so upset about the 300 over missing pages when the courier guy came with my book!!!! I went crazy happy for hours! :-)
That looks like a really good book, I might have to order one. Ahh, so many books so little time.
Yeah, I agree. Traders that don't take responsibilitiy for their actions often find all excuses to blame but themselves. In the end, they never succeed.
Jules you and Lonely sure have a strange idea of a blogging hiatus. :)
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