Disclaimer


Legalese:

Highprotrading (the “Blog”) is provided for informational and entertainment purposes only. The information in the Blog constitutes solely of the opinions of its author. None of the information provided in this blog is to be considered as investment advice. You understand that the Author of the Blog is not a qualified financial adviser and his advice and recommendations aren’t suitable for a specific person and/or specific financial situation. None of the information in the Blog constitutes a solicitation to buy or sell any product or security. Each investment, security and trading strategy discussed in this blog have their own unique factors and risk considerations and some may result in an immediate and substantial loss of investment capital. Some strategies may result in loosing more money than initially invested. Visitors should therefore do their own research or consult with a qualified and licensed financial adviser before investing. THE BLOG ACCEPTS NO LIABILITY OR RESPONSIBILITY WHATSOEVER FOR ANY LOSS OR DAMAGE OF ANY KIND AND NATURE RESULTING FROM THE USE OF THIS BLOG OR AS A RESULT OF MARKET RISKS.

The Author of the blog may hold positions or interests in the securities and investments mentioned in the Blog and trade with his own account and risk capital. The Author of the blog may also hold positions inconsistent with those mentioned in the Blog. The Author does not guarantee nor promise any specific results from using this blog.

The Author of the Blog obtains information from sources deemed to be reliable but cannot guarantee the accuracy and completeness of all information and reserves the right to change any and all content and software used at any time and without notice.

The Blog may become temporary unavailable for maintenance or other reasons. The Author does not assume any responsibility for any error, omission, delay or interruption of service, unauthorized access or alteration of the Blog. The Author is not responsible for any technical or any other malfunction of the networks and computer systems or software related to the Blog nor for any damages to the visitor’s computer, mobile phone or any other hardware and software or corruption and loss of data or any other type of harm resulting from the use of the Blog. Under no circumstances will the Author of the Blog be responsible for any kind of loss or damages resulting by anyone visiting this Blog or by the interaction of the Blog’s readers with the Author and/or among themselves.

 

In plain English:

This blog is a sort of a trading diary, only it is public and not private. Its goal is to increase its starting capital of 100,000$ consistently and over time. This is not my live account but a paper trading account, entirely equivalent in its functionality to my live account only it uses simulated instead of real money. Sometimes I will be making the same trades in my live account only with different position sizes because my live account has a different amount of money. Other times I may choose not to make any equivalent trades in my live account but in any case I stand by all trades that I make in the paper account and they will all affect my paper account, my public record and my reputation.

It is in the legalese but I will reemphasize it here: You may or may not chose to follow my trades. If you follow a trade and it’s unprofitable then that is entirely your responsibility because it was you that pulled the trigger. In the same way if a trade is profitable then it is by your merit entirely because you were the one that chose to follow it. I will put everything in my power to explain clearly and unambiguously when and where you should get out of the trade if you are profitable and where you should cut your losses if the trade goes against you. If you do not respect stops and the trade continues to go against you and as a result you loose more money than you anticipated or you are comfortable with, than you and only you are entirely to blame. If you do not agree with these terms than you should stop reading this blog right now. On the other hand if you accept complete responsibility for your actions then let’s continue with the journey.

This blog is as much forĀ helping me and improving my trading skills as much it is for its readers. I chose 100,000$ as the starting amount because if I had chosen an amount less than 25,000$ I would be limited by the pattern day trader rule in which you cannot make more than five day trades during 3 trading days. Following my trading strategy that shouldn’t happen very often but nonetheless it’s a limitation.

I chose 100,000$ because it’s a nice big round number and also, if someone let’s say has 10,000$ he or she can easily scale down the trades to fit his position size. If you have 1000$ or less I do not recommend trading because at that small amount brokerage fees would start eating a large chunk of your profits. I will also add, use money you can afford to lose. Do not use student loans, mortgages or any other funds you cannot afford to lose. I recommend first trading with a paper account so you can familiarize yourself with the trading process and in the mean time you can put aside some money monthly for your trading account until it grows sufficiently large.

When you have familiarized yourself and have become consistently profitable you can switch to the live account, but start with small amounts. It is entirely possible, even likely that you can be profitable in your paper account but unprofitable in your live account since in your live account emotions get in the way of your judgment because real money is involved. So start small and then gradually increase your risk capital. Maybe you’ll have to lose some money a couple of times before you get it but just keep going, risk small amounts and eventually you will figure it out. Don’t worry if it takes a long time, even for the best traders it can take years to become good. Some people get it right away, or they think they got it and then at some point they become complacent and end up loosing everything. If at that point you don’t give up but pick yourself up and continue then you start learning and becoming good for real.

Trading is a deceptively easy profession, but I assure you that couldn’t be further from the truth. You are hard wired in a way that is exactly the opposite you should be wired if you want to become a successful trader. For example you are wired to hold on to your losses, take your profits way to prematurely and to listen to the herd which is a sure way to the poor house. Learning to wield those emotions can sometimes take years.

This job is in my opinion the best job in the world. It can be very rewarding and I love all about it but like all highly skilled jobs it takes a lot of time to become good at it. You don’t become a doctor, or surgeon or for that matter good at any profession in a couple of months, it usually takes years. Sure there are prodigies out there who can learn quicker but for most of us common mortals it takes a lot more effort and time.

To summarize, trading is like any other business, it takes dedication and conviction to succeed at it. If you approach trading seriously then it can be easy and fun but if you approach it in a careless and amateurish way then it will be hard or almost impossible to succeed. Hopefully this blog will put you along with its author on the right path.

The other parts of the disclaimer are just standard limitation of liability clauses which state that I cannot guarantee the accuracy of all data and that if something happens to the blog which is out of my control I am not responsible for the potential damages it may cause to anyone or anything.