Ah, ok. I didn’t get the impression it was a challenge though. Just went through a few of his initial posts and I got the impression it was a sincere attempt at being publicly accountable and an attempt to get to know folks of a similar mindset.
Being based in Dubai throws a few more challenges during times of crisis. Employment is much more volatile there at times of crisis and I believe it’s worse now than during the Financial Crisis. Unemployment results in a notice term from 1-3 months and visa cancellation, which requires you to immediately uproot yourself back to your country. The impact is especially hard on folks who have family as visa dependents.
Not saying there’s no chance he’s blown his account but his most recent steady gains, sessions with Tendler and being based in DXB leads me to think there could just as easily be other reasons for the hiatus.
Edit: Jared Tendler is a legend among poker players. He’s helped tons in I believe in 2 decades and I believe got his start helping golf pros. Here’s a session with Tendler from a Trader’s blog.
No worries at all, like I said I hope everything is good with him, he was doing really well at one point up £10k in a week or so from starting. Anyway, yeah, I would NOT choose to live there but if that’s were your job takes you then guess you don’t always have a choice.
About this Tendler guy, why is everyone so into him? Was he a trader? I get the correlation with poker and the sports psychology thing but it’s like he’s a god in here. Don’t get me wrong, if he’s helped you and a bunch others then great. That said you got my attention, I might check him out
I’m too new to trading to know if he’s as well respected in trading circles tbh. I know of him from the time I was an eager amateur poker player. And he’s got a legendary rep in poker circles. He’s helped tons of well-known and profitable players over the years.
As for myself, I was a losing poker player for about 2 years. I’ve been guilty of chasing my losses, playing on tilt (very similar to revenge trading), playing above my skill level (higher stakes), overplaying (upto 8 tables at once), and playing across the spectrum of game types. Many parallels with the same traps traders get into.
His book at the time, “Mental game of Poker”, was a huge eye opener for me. I don’t think it would’ve had a lot of impact on me personally if I didn’t experience playing as badly as I did at the time. So, I guess context matters too.
While I believe I plugged a lot of holes and leaks, I haven’t re-read it or practiced a lot of what I learnt since I stepped away from poker, so I have my work cut out for me.
I see he has a book on trading now: The Mental Game of Trading: A System for Solving Problems with Greed, Fear, Anger, Confidence, and Discipline.
So many traders were poker players at one time as many seem to come from an engineering background too. I often doubted myself because I didn’t have such a background, either way, whether you lost more than you won, you could have an edge and so an advantage. Wish you luck, its been good talking with you
If you want to make money and use a truly mechanical approach which can be repeated with very high probability of success look at trading options. 85% of options trades lose but that reflects options bought. Selling or writing options is the other side of the coin. There will be those who tell you that this is terribly risky but that is not true if you apply the right strategies.
Subscribe to Tastytrade. It is free and offers a wealth of education and research.
Dead thread, but I like this. David Paul made a comparison with traders and successful dentists/oral surgeons.
He said the dentist focuses on doing each procedure perfectly. If he can do each root canal, each filling, etc perfectly; then the patients will keep coming.
Focusing on one trade at a time is how the profits will be earned.