The Lazy Day Trader Strategy – Should not be considered as a Strategy
Remember the “60 Seconds Profit” strategy developed by a guy named Keith Jones? Yes, the same Keith Jones that tells us how to put on a trade with 100% chances of success brings us a new strategy and, believe it or not, this strategy also teaches us that we can make a 100% sure trade. Yeah, right…and pigs fly! Anyway, you can find it here: . The thing is that I can’t really call “The Lazy Day Trader” a strategy, it’s more a “method” dressed as a strategy. I consider that a strategy gives hints about direction, clear signals that actually tell me how to trade according to them. This method is very similar to his “60 Seconds Profit” and requires me to check the “Traders insight” tool and place a trade in the direction of the majority, using $10 and a 15 minutes expiry time. If that trade is a loss, next I will open a $26 trade; if that is a loss, I then use $65 and finally, if all three are losers, I open a trade with $150. If I get a winning trade somewhere along the way, I must go back to step 1, trading $10. One more important rule is that I must check Traders Insight after every trade to make sure it agrees with my direction and trade accordingly. The funny thing is that even he compares this strategy with flipping a coin: “It’s a bit like flipping a coin. The trade will only have 1 of 2 outcomes.” This makes me think about something: if he says that the fourth trade has 100% chances of success, this would mean that the fourth flip of a coin has a 100% chance of success. So I can be a millionaire soon…
Why Does “The Lazy Day Trader” Method Sucks
Well, where to start? Oh, I know: the fourth trade is a winner for sure…arrghhh, the pain this statement causes me is hard to endure. It’s like somebody telling me what the lottery numbers will be tomorrow and I immediately sell my house to bet it all. Nobody knows the lottery numbers before they are published and nobody knows for sure that a trade will have 100% chances to be a winner. Increasing the amount traded at the rate suggested by the strategy will blow the account eventually, but he tells me in the beginning of the video presented on his site that “…it’s totally risk free trading”. Believe me guys, there is no such thing as “risk free” trading. There will always be a risk involved because otherwise this would be a planet of millionaires and we would all have butlers…and guess what, our butlers would have millionaire butlers. I noticed that almost everywhere I click, I am redirected to the broker they advertise for. It’s like the whole page is a hyperlink. I think the most annoying thing is the fact that the site can mislead a newbie big time. They even tell me that Traders Insight is provided by the best traders in the world and “therefore we can trust this tool 100%”, another statement that is very dangerous for the wallet of a newbie.
Why “The Lazy Day Trader” Method doesn’t Suck
“Lazy Day Trader” made me a bit worried about all the poor guys that could lose money trading this method. However, some traders that really enjoy the thrill of placing a trade could find it somehow appealing because when you are using the method, you really feel like a machine gunner, placing trades on rapid fire. And, come to think of it, if you have the right resources, you could increase the amount traded if your first sequence of four trades goes wrong. In this way, winning the future trades would recover some or all the losses incurred previously. However, I would not recommend doing so because the method is based mostly on luck, not on analysis. Beginner should understand how to use this option together with longer expiries options. That’s a real strategy.
If something sounds too good to be true, it probably isn’t; this method and its developer tell me that I’m going to be rich…with no risks involved. Sounds good, right? Too good…and any real trader will tell you that you need to stay far, far away from simple looking “strategies” like this one. The similarities to the Martingale gambling strategy are astounding: with the Martingale, when you get a loss, you increase the bet amount in such a way that a win will cover all the previous losses and bring you a very small gain, just like the “Lazy Day Trader” strategy, but here the greed is even bigger, because the strategy increases the trading amount excessively, to get bigger gains in the case of a win. My opinion was already formed when I saw the picture of a hand flipping a coin at the top of the page. In this case, a picture is definitely worth a thousand words, because the “Lazy Day Trader” strategy has the same chances of success like flipping a coin. Sorry Keith, we are traders not gamblers… Furthermore, I cannot consider the “Lazy Day Trader” as a strategy, just a method that could give some positive results if used by a lucky, stable trader that has resources to sustain a string of losses, waiting for the winners that will get him out of the drawdown period. Eventually, the winning trades will come along, but most of us regular traders will have the account blown by that time, if not used properly.
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