| RESULTS FOR DAY | |
|---|---|
| CL Contracts: | 1 |
| Net $P/L: | -404 |
| Wins: | 0 |
| Losses: | 1 |
| Win%: | 0 |
| Avg$Win: | 0 |
| Avg$Loss: | -404 |
In other news, Day Traders Struggle Amid Commodities Rout. The article comment by Steve Bell is spot on.
46 minutes ago
Tuesday, September 15, 2015
Tues. 9/15
1:50pm CDT - One of those days you wish you WOULD have trailed a stop. But I did follow my plan and that will have to be enough today.
In other news, Day Traders Struggle Amid Commodities Rout. The article comment by Steve Bell is spot on.
In other news, Day Traders Struggle Amid Commodities Rout. The article comment by Steve Bell is spot on.
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The article is for those who haven't make it yet. For those who do they read something else I guess.
ReplyDeleteWhen I read the 1st sentence and saw the author using the term "bets" for trades, I know it was going to be a hit piece on trading. Surprisingly, it turns that descriptor was on the mark as the "traders" interviewed in the article are certainly closer to "gamblers" rather than more seasoned traders that would know what they are doing.
ReplyDeleteThese guys are pure discretion - trading news and "gut feeling" as opposed to a more analytical plan that filters out human bias.
The commenter that you mentioned that refuted the article is correct - they used these bad traders as cannon fodder to prove their preconceived argument that daytrading is a losing game and folks should entrust their money to the "pros" - the same "pros" that were all too happy to sell folks toxic subprime mortgage based derivatives that went belly up.