I just ran across a site the Retarded Trader. Besides being , ummmm, tasteless to the handi capable, it seems to be actually run by ‘trading challenged’ traders.

These guys are trading like drunken monkeys. In six weeks, both traders had a 50% drawdown, given that one had been up 100% and the other 70%.

Here are some of the things they are doing wrong.

[1] Constantly buying short theta and positions
[2] Trading with out a plan
[3] Position sizing is horrible.
[4] Not spreading
[5] Daytrading with less than 5K.
[6] Trading on hope, and hope is not a trading plan.

Now, I should say, the site looks good, and I like the site. I wish them the best and I hope they learn to trade sooner than later.

This entry was posted on Wednesday, February 6th, 2008 at 8:40 am and is filed under Uncategorized.