I wrote this video in response to criticism of my trading behaviour in my TraderTom.com Live Trading Telegram Channel.
I was accused of setting a bad example to new traders. I argue in this video that the entire trading industry is ill-equipped to prepare new traders for what lies ahead. Book after book, course after course, is showing nothing but “perfect trading examples”, thus perpetuating the notion that trading is a really easy way to make a living. The whole point of my live trading channel is to act as an antidote to the never-ending BS that I see offered in online trading courses and books, by actually trading live, with time stamped entries and exits.
I argue that I am better than anyone preparing a new trader for what lies ahead, by showing them how I am doing it. Am I a flawless trader? Hell no, and that is exactly my point. I have many losing trades, but I don’t try to hide the losses, and thus portraying myself to be something I am not. I am showing through my Telegram channels that losses are part and parcel of trading.
I created this video to address the criticism that was directed towards me. One point that I didn’t make in the video, which I regret is when discussing my accident. I had two trading days in the month of May 2022 (the time this video is made), where I was heavily down on the day, and traded myself into profit. What I regret doing was trading at all. I was heavily sedated on pain medication because of an accident (mentioned in video and on my P&L curve). I don’t think I should have been trading while on strong pain killers. That is just my personal opinion. I got away with it this time, but I generally advocate only to trade when you are ready to trade up a storm, and you feel good about yourself, both physically and mentally.
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