iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
23,417 Blog Posts

The Interesting Story of Charles Harris

I want you to take time to watch all of these videos. Maybe you know who he is and are familiar with his story — but I am very insular in the trading world and had no idea up until I stumbled across this priceless videos about trading.

As many of you know I’ve had spectacular runs and blows up too over the years. I am right now in the midst of a run, taking a $100k account in 2021 to $1.4m today. I am familiar with all of the emotions he explained in this unreal story and I marvel at the balls he had to make as much money as he did during his run.

He mentioned his average holding period was 9 days, which meant he was beholden to a trend and was likely timing bottoms to lean in heavily into a reversion move up. While I understand the mode of that style, I do believe day trading is preferable — because it eliminates the chances of large drawdowns. If you’re in the market at 200% equity for 9 days when the market plunges 15%, you’re cooked. I can talk about my strategy in greater detail if you like. I sort of figured you stupid bastards would never understand OR you’d simply believe you could do it better.

Enjoy.

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