Surely if you are doing well, naturally you want to talk about them. If you are doing badly, then it is instinctive to want to brush vast percentage losses to one side.I guess it's burrying one's head in the sand.
I remember a conversation with a trader who had been trading for over ten years and he engaged me with a story on how a potential investor asked to see his results and, incandescent with rage, he proclaimed that he did not have to show his results to anyone.
I wondered why this was. Surely, he would have to if people in their right mind were to invest?
Here are my trading results. They may be consistant but are nothing to go shouting about - but then, even if they were, I would not be shouting about them. I would simply show them to people who ask for them. It's the least I can do for people who want to use my services. It's the least I can do for them...
As one of your long suffering delegates I need to congratulate you for the honesty in your trading results. You are one of the very few people involved in the FX training industry that is not peddling the grand illusion of riches and wealth.
ReplyDeleteIf anyone thinks that trading alone will replace a real income they do so at their peril. At best trading is a supplementary income/hobbie.
By the way, I have finally retired from any kind of intraday trading and cast aside that ridiculous notion of being ready at the charts in time for the London Session trying to make that elusive 1% a day. Anyone who thinks that rookie traders are going to achieve that are sadly deluded.
Nowadays I keep it simple and conservative and only trade EOD with the good old fashion Colville Bounce, the equity curve definitely has an upward slant now (but only just)
Well done and three cheers to honest traders.
Alistair Wales
Hey Alistair!
DeleteWelcome to the darkside! Water's lovely, come on in! End of day is certainly where a lot of people start their trading and where they finish and good to see that you've decided to adopt this (underrated) style.
Certainly, this year for me has been nowhere near as lucrative as last year but opportunities (and lucrative ones) in the market are random - and so too winning and losing quarters.
Keep up the good work mate and keep in touch
Rob
Whats the Colville Bounce trade setup?
DeleteI totally agree Rob. It seems within the trading industry, it is all too rare to fined real transparency and total honesty. This lack of integrity appears to apply within the world of brokerage firms and is endemic in training industry. I find it so refreshing when people give you the total picture, wins losses and all. Why hide the truth from yourself or others?
ReplyDeleteHey Steve,
DeleteIt's a shame isn't it? I don't know why people cant be more open. I guess we can put a lot of it does to the age-old ego.
Read Elder's 'Come into my trading room' - he talks a lot about why people tend to just talk about their winning trades while sweeping the losers under the carpet. He did a study involving 100s of people - his findings were fascinating.
Take care and keep in touch
Rob
Thanks Rob - I really appreciate your honesty and openness here. It is such a comfort and is timely support... having switched some months ago to EOD only, I have not traded since late August (partly holidays but no setups to tempt me since my return either). Reading this today helps me to stick to my plan instead of frantically looking for new strategies to trade.
ReplyDeleteHey Jacky,
DeleteGood to hear from you and welcome to the darkside of end of day trading, mwa haha!
Give it time - lots of people when they arrive at this style of trading are not patient enough with it and if they have a relatively inactive quarter, simply drop it and move onto 'the next best thing'.
As I said in my reply to Alistair this year for me has been nowhere near as lucrative as last year but opportunities (and lucrative ones) in the market are random - and so too winning and losing quarters...
Stick with it and best of luck to you
Rob