How NOT To Trade

free & uncensored discussion arena for TheRumpledOne

Moderator: moderators

User avatar
PebbleTrader
rank: 1000+ posts
rank: 1000+ posts
Posts: 1632
Joined: Fri Nov 12, 2010 2:15 am
Reputation: 0
Gender: Male

Postby PebbleTrader » Mon Feb 11, 2013 11:46 pm

And now he has removed his live trading account:


Image
Life is just a journey

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.

User avatar
PebbleTrader
rank: 1000+ posts
rank: 1000+ posts
Posts: 1632
Joined: Fri Nov 12, 2010 2:15 am
Reputation: 0
Gender: Male

Postby PebbleTrader » Mon Feb 11, 2013 11:52 pm

Just saw this post from babypips:

"Today -4.84% ( - ) -$204.30 ( - ) -45.40 ( - ) 0% ( - ) 1 ( - )
This Month -20.66% (-23.88%) -$1046.21 (-$1110.60) -225.00 (-275.0) 20% (-44%) 10 (-4)"

Looks like he had lost another 5% today and probably decided to finally shut it down...
Life is just a journey

User avatar
PebbleTrader
rank: 1000+ posts
rank: 1000+ posts
Posts: 1632
Joined: Fri Nov 12, 2010 2:15 am
Reputation: 0
Gender: Male

Postby PebbleTrader » Tue Feb 12, 2013 12:04 am

His stats aren't available anymore, but isn't that like -20% over like a 7 day period?!...hence the title of this topic "How NOT To Trade" :)
Life is just a journey

lazygeorge
rank: 150+ posts
rank: 150+ posts
Posts: 157
Joined: Sun Aug 23, 2009 7:01 pm
Reputation: 0
Gender: Male

Postby lazygeorge » Tue Feb 12, 2013 12:12 am

PebbleTrader wrote:His stats aren't available anymore, but isn't that like -20% over like a 7 day period?!...hence the title of this topic "How NOT To Trade" :)


A supposed pro trader for over 14 yrs :D

I traded better than -20% in 7 days in my early years.....i lost it over a longer period of time,so you could say i was a better loser back then,than ICT is after trading professionally for 14 yrs :D

User avatar
TygerKrane
rank: 1000+ posts
rank: 1000+ posts
Posts: 1404
Joined: Mon Jan 25, 2010 3:36 pm
Reputation: 2
Location: Long Island, NY
Gender: Male

Postby TygerKrane » Tue Feb 12, 2013 1:36 am

Imagine how many more retail traders would've FLOCKED into Forex, had he demonstrated something a bit more successful...
:-k :-k :-k

(and there I was hoping for a quick way to move up from the bottom of the totem pole for dumb money, LOL [-X :lol: )

**Krane catches Tyger** !>I'm here to chew bubble gum and make major pips...and I'm all out of bubble gum.<!

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.

User avatar
MightyOne
rank: 5000+ posts
rank: 5000+ posts
Posts: 5251
Joined: Wed Dec 10, 2008 6:33 pm
Reputation: 46
Gender: Male

Postby MightyOne » Tue Feb 12, 2013 8:59 am

aliassmith wrote:
MightyOne wrote:http://www.pipsalacarte.com/blog/2011/11/22/the-inner-musings-of-innercircletrader/

Highlights:

UNCLE STAN's ADVISE:

"I hit my teens and while I was in the eleventh grade my Uncle Stan sat with me one Sunday afternoon at the kitchen table and told me? ?Michael, when you grow up and graduate? get a career learn a trade? save money and learn to trade options and futures?. I recall him saying, ?The richest people in the world trade futures and options?. That was the seed that started it all."

$17,000 PER WEEK AS IN $884,000 PER YEAR?:

"I was(<---) able to see price making tops and bottoms with consistency and trends I was able to ride these moves for seventy to eighty percent of their duration. I couldn?t believe it? what started out, as a plan to save a thousand dollars per month for an early retirement? became a seventeen thousand dollar per week adventure!"

NOTE: it is far more likely that he had explosive gains ('glory days'), over a period of weeks/months, the average of which being 17k per week.

YEAH WE KNOW THE TYPES:

"I was humored by some of the characters we see on these mediums? you know they types...
Or how about this character...?Watch me run my $500 account up to $100,000.00 in 3 months? and they blow it up all right. You never see them post again? and their thread fades away."

WHAT IS A REALLY BIG NUMBER?:

"should I make a net $20,000,000.00? I will retire. Until I reach that goal or I can no longer profitably trade I can?t see myself stopping what I enjoy doing so much."

MONEY MANAGEMENT IS THE KEY!

"I (--->)consistently made solid returns but I wasn?t where I knew I could be. There was something missing? one piece of the puzzle that eluded me. It was money management?(--->)and when I understood this principle? things went from good to ridiculous.


He must have took Mightyone's life and made some edits :) to the story.

Although I think it went more like:
When i was a teen i studies Ken Roberts and paper traded my A$$ off.
When I thought I was ready my dad helped me set-up a Futures account for $2000.
I traded options and never had a losing year for the past 13 years.
Now I "try" to teach people how to be profitable trading, while pulling all my hair out.


It was like reading my life story. It is amazing how two people can have similar life experiences & radically different results.

I am certain that had I continued to trade naked Futures contracts we would not be chatting today...
naked anything is generally a bad idea.

Despite popular belief, I am not a 'Forex Guy'
I have made all of my money trading options; Forex is more of a hobby.

User avatar
PebbleTrader
rank: 1000+ posts
rank: 1000+ posts
Posts: 1632
Joined: Fri Nov 12, 2010 2:15 am
Reputation: 0
Gender: Male

Postby PebbleTrader » Tue Feb 12, 2013 4:37 pm

Maybe ICT Fanboys should watch this:

How To Spot A Liar
Life is just a journey

User avatar
PebbleTrader
rank: 1000+ posts
rank: 1000+ posts
Posts: 1632
Joined: Fri Nov 12, 2010 2:15 am
Reputation: 0
Gender: Male

Postby PebbleTrader » Tue Feb 12, 2013 4:44 pm

You going to start an options thread?

It gets boring talking about the same stuff all the time, no?

With just a modest account, I think most could do just fine trading FX as a hobby solely.
Life is just a journey

aliassmith
rank: 1000+ posts
rank: 1000+ posts
Posts: 1667
Joined: Tue Jul 28, 2009 9:50 pm
Reputation: 21
Gender: Male

Postby aliassmith » Tue Feb 12, 2013 4:46 pm

PebbleTrader wrote:You going to start an options thread?


I wanted to suggest this but MO is probably already bald now!
Trade Your Way as Long as It Makes Money!

User avatar
PebbleTrader
rank: 1000+ posts
rank: 1000+ posts
Posts: 1632
Joined: Fri Nov 12, 2010 2:15 am
Reputation: 0
Gender: Male

Postby PebbleTrader » Tue Feb 12, 2013 7:06 pm

I don't think it would be too much stress :)

I think the concepts he has already taught would tie-in to options.
Life is just a journey

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.


Return to “TheRumpledOne”