The World according to Cartman

[nunthewiser]

long gold? tight stop @ 92650

LOL bleedin galah

 

[GumbyLearner]

Cartman can solve the financial crisis.

If not,

**** off Cartman!

 

[Cartman]

LOL bleedin galah

i reckon u were a bit hard done by there Nun ---- looked like a fairly regular retrace with a double bottom at yr entry ---- shaped up ok then whammo --- thanks for showing up !!!! Cant do much about those.

Cartman can solve the financial crisis.

If not,

**** off Cartman!

U seem a little tense Gumby --- anything we can help u with?

ps i cant even solve the weekend crossword -- i go ok on the big words, but i have trouble with those four letter ones !!

 

[nunthewiser]

i reckon u were a bit hard done by there Nun ---- looked like a fairly regular retrace with a double bottom at yr entry ---- shaped up ok then whammo --- thanks for showing up !!!! Cant do much about those.

ya get that ........... got revenge on the switch so alls well in funkytown

looking at another quick long right now tho stop 91920area

 

[nunthewiser]

still in

 

[GumbyLearner]

i reckon u were a bit hard done by there Nun ---- looked like a fairly regular retrace with a double bottom at yr entry ---- shaped up ok then whammo --- thanks for showing up !!!! Cant do much about those.




U seem a little tense Gumby --- anything we can help u with?

ps i cant even solve the weekend crossword -- i go ok on the big words, but i have trouble with those four letter ones !!

Cartman

Could you help me with something?

You are a blob and there is nothing wrong with that.

But :

I would like to know what your opinion is of industrial metals eg.copper,zinc,tin,silver,iron ore etc.. over the next 12 months.

Cheers for the thread man..

What's your opinion?

 

[Cartman]

Cartman

Could you help me with something?

You are a blob and there is nothing wrong with that.

But :

I would like to know what your opinion is of industrial metals eg.copper,zinc,tin,silver,iron ore etc.. over the next 12 months.

Cheers for the thread man..

What's your opinion?

U want that from a technical or a fundamental point of view??

 

[Cartman]

What's your opinion?

GL, i assume you've gone to bed as most normal people should at this time of night ---- not sure why you would want my opinion on metals, let alone what they'll be doing 12 months from now. Geez i'll be happy to be here in 12 months!!

To be honest, i dont really care that much i just follow squiggly lines on a chart ........ overly simplistic; yep, but i prefer it that way ----

my laymans opinion would be along the lines of. Considering we are sitting pretty close to 5 year lows on most metals and we've been bouncing around those levels since late last year ... call me an optimist but i cant see metal prices getting a whole lot worse. Governments dont like recessions to be too extended, and China isnt going on Holidays for ever so once the whole mess that the financial fat cats helped create gets half fixed, i think we'll actually see some improvement ---- time frame (No idea)

ps i dont think that analysis is gona save the world eh ?

pps Gold may be worth a punt on the dips !!


ppps Well done on the switch NUN !!

 

[beamstas]

Shorting metals cartman?

call me an optimist but i cant see metal prices getting a whole lot worse.

Brad

 

[Cartman]

Shorting metals cartman?



Brad

nah ---- i'm long on "heavy metal"

 

[Cartman]

Righteo ---- would appreciate some patience and input from you guys (girls are welcome too!! )

My original babble at the start of this thread brought me in contact with a cyber mate (who did a similar naughty thing to what I did a few years back), and lost a squillion dollars mucking around with spec stocks while at the same time basically knowing bugga all about trading ---- His tale is fairly recent from what I gather ----

My quest is to help this M8 if I can ----

I have asked his permission to put his situation to the Forum, but have assured him that his anonymity will be a priority ---- I will contact him via PM for any questions he has relating to particular comments from members etc ( if that is not an acceptable option, can mods please inform me of my legal protocols regarding giving “advice” via PM’s)

Enter you guys/gals --- Community effort required if possible ---- not just for this M8, but anyone who has suffered a similar situation.

Ps any “advice” I have or will give him is from a totally non specific/non financial perspective, and broad outlook with respect to trading, but an emphasis on T/A in particular

For example ---- I am happy to give him my “bread and butter” trading setups if I think it will help ---- but my concern is that without proper grounding/training/study/whatever, just showing someone chart patterns that work for me, may not be actually helpful to him due to our different psych/life/whatever positions etc etc …

The last thing I am is a trading teacher (although I have professionally “taught” other “things” in the past, but hopefully we can all come up with some useful information to help in his recovery stage ---- (ps I’m not a past school teacher, so no teacher bashing crap !!:horse

His current position:

He works long hours (cause he lost a squillion dollars and has to)
He still wants to become a “proficient” trader (make a few hunded $+ a week if possible)
He has little knowledge of T/A, but wants to learn
Has trouble “seeing” chart patterns but wants to learn
Is totally honest with himself about his stuffup (well done on that !)
Cant really afford a Mentor (not necessarily a bad thing imo)
Family life has suffered due to the stuffup
(probably lots more but its late at night and that’s enuff to start with ---- I need SOME sleep)

What ive done/given him so far:

Encouragement
Understanding (never known a good trader yet that didn’t have a “stuff up“ period !!)
Sympathy (on the family issue --- that is a crapper)

A couple of charts with various simple MA’s trying to initiate a sensory perception of what makes a “pattern” develop etc --- long way to go, but have to start simple

What do I want from you guys:

Simply put yourselves in the same position and offer helpful opinions (best not call it advice!!) as to how you would approach this situation from his point in time, so that he can “learn” how to turn it all around ---

As I say, I have offered much of my own experiences to him, but one persons experience is way too narrow a base to work from ----

Thank you gentlemen. I have no idea whether this will work/help, but if nothing else, I see it as an exercise of humanity which is generally far more rewarding than making a squillion dollars anytime ---

Cheers …Cart.

ps ---- start right at the basics please --- and no judgmental stuff; no point in that

 

[tech/a]

as to how you would approach this situation from his point in time, so that he can “learn” how to turn it all around ---

Learn to trade.
That means to actually LEARN to trade.
Do the 10,000 hrs.
LEARN what it is that makes you succeed in trading.
Treat it like a degree or an apprenticeship.
Section it into subjects then do the hrs.

Then sit for the exam with a sim for a year or so.
No simple way just have to do it.

Gotta go I'm late for my "Brain surgery in 30 days" on line seminar.
They send me a certificate at the end you know!

 

[nunthewiser]

go buy him a big thick blank book and a pencil and tell him to trade with that until he can look at his performance and learn from it , this only works if he dont try and kid himself and treats it like a serious trading position.


until such time it takes to find himself his own comfort zone/trading edge without bullsheeting to himself he would be better to continue working


OR he could always sign up for my tipsheet and at least one of us will have a fat old time on the rest of his dosh

 

[CanOz]

Get him the audio version of Alexander Elder's Trading for a Living and tell him to listen to it over and over after he has a basic understanding of how to read charts etc.

There are many gem's in there and the fact that its audio means listening over and over is like a mentor in your ear all the time.

In the meantime, save up and pay off debt. Start trading some basic setups on paper to "get in" the markets.

Just a couple of things that i did after i lost a bunch.

Please give them my best Cartmen, we've all been there, he is not alone.

Cheers,


CanOz

 

[Sean K]

Tell your 'friend' to sign up and seek for himself.

 

[beamstas]

1) Do not let him loose with more money.. PAPER TRADE

2) Buy him a copy of Van Tharps book or Nick Radges book (or even better the seminar) Risk management is very important

3) Very important - Try and make him understand WHY he lost the money that he lost, no use trying to help him and then he does it all again. "The price went down and i thought it was going to go up" is not a valid reason as to why you lose money

Brad

 

[Cartman]

Just to clarify ----- He is already a member of ASF and he will no doubt be reading this thread -- i have only "met" him via contact thru PM's, so he is a friend who ive never met (just like some of you guys --- "some" being the operative word ... lol....)
His situation is unfortunate and struck a past chord ---- offering some positive advice seems the least we can do -----

it was my suggestion to put the case to the forum cause i didnt want to bulldoze him with just my warped sense of trading ---- plus being able to get advice from those around here without having to feel intimidated seemed a better alternative to me ---- if he decides its all a bit weird getting advice in the third person so to speak, ive told him to let me know and the mods can simply wipe the posts at his request

Get him the audio version of Alexander Elder's Trading for a Living and tell him to listen to it over and over after he has a basic understanding of how to read charts etc.

There are many gem's in there and the fact that its audio means listening over and over is like a mentor in your ear all the time.

In the meantime, save up and pay off debt. Start trading some basic setups on paper to "get in" the markets.

Just a couple of things that i did after i lost a bunch.

Please give them my best Cartmen, we've all been there, he is not alone.

Cheers,


CanOz

Cana, i think something along those lines is a great idea ---- he is looking for a foundation to base off at an affordable cost ---

All advice in the previous posts has been good and reinforces the kinds of stuff ive been mentioning to him --- Learn to trade by practicing in a low risk environment (paper/sim) --- no money down till its comfortable etc etc

Keep em coming please Gents ---- ie important events/light bulb moments that changed your trading for the better; best advice you were ever given/ best book etc etc ----- anything that may be of benefit, no matter how insignificant it seems ---

 

[Trembling Hand]

Take a big break. A real big one.

Spend what little spare time he has with the family and friends.

Much damage is done on blow ups much like people who have suffered "other" types of trauma. Getting back on the horse is not the best answer when you are trying to come back from a blow up. Your brain has just been hard wired to perceiving the market as a threat rather than opportunity.

Time and correct approach can fix this but not without finding balance in other parts of your life first. Family stuff needs to be centred first. money, markets and winning comes from the rest being right.

 

[CanOz]

TH, thats the best advice I've seen so far and i assumed he had taken a break. This is very true:

Your brain has just been hard wired to perceiving the market as a threat rather than opportunity.

This is the element that makes you trade out of winners early when you've lost money and your in the recovery mode.

CanOz

 

[johenmo]

Lots of good advice.

From TH's post you can let him know there is no hurry, so he can watch Nick's Seminar DVD over and over again re money managment.

If you're not happy within, you won't be happy.

I'm no longer in a hurry. Tks to listening/reading to things like the above.