Big Boobs - Diary of a Losing Trader

Wow! You have to admire Cassini's balls, green all over though they be. His latest post details the exploits of Big Pairs (now deleted - again), a blog I have read with a sack load of salt since it was first published (most of it now deleted to cover tracks). Big Pairs is written by a chap who refers to himself as a CEO and Amateur Sports and Forex Trader. From reading his litany of disastrous trades one has to wonder what he is the CEO of, a market stall?

I have been referring to Big Pairs obliquely in posts such as A Root for Squares and Setting Realistic Targets as I know that Big Pairs is very sensitive to criticism and so I wanted to spare his blushes. Cassini now obviates that need. Those who only slightly berate Big Pairs for being woefully inadequate as a trader are usually banned.

As Cassini points out, Big Pair's blog is a reincarnation because all of his earlier posts have been deleted and with good reason too. More often than not bankrolls in his earlier posts were revised and losing systems were dropped so as to hide the author's failings as a trader.  Pointing out these anomalies got me banned from any further communication.

I can never believe what I am reading on Big Pairs, it just doesn't come across as someone who is as highly placed within a company environment as he purports to be. There is a certain lack of maturity in the writing and not the kind of expectations from life that I would expect from a CEO, and so I find anything he says hard to believe.

The trading posts themselves are laughable. If you take the time to read through them in chronological order then you will see that nothing adds up. And, if you can't add up (the most basic of mathematical skills) then trading is probably not for you. It's a good job that Big Pairs is a CEO and not a CFO (Chief Financial Officer) otherwise he wouldn't even have a day job to fall back on.

Big Pair's trading "systems" are naive at best and if any of them are producing profits (which I doubt) then it is just lady lucky smiling benevolently at a fool before she pulls the rug from under him. The breadth of his mathematical knowledge again casts doubt on his being a CEO. The naivity of his systems means that Big Pair's bankroll has been heading south for sometime now but still, in his mind, he will become a successful trader. I think not.

Big Pair's Twitter account has plenty of followers "liking" his every utterance. Although my hypothesis on why that is so is that his followers enjoy seeing an idiot crash and burn in real time and they are just egging him on. I worry that following his outing as an incompetent he will now delete his blog and Twitter accounts and come back with a new nom de plume with which to spin his tales.

My problem with blogs such as Big Pairs is that for the unknowing they create the impression that anyone can become a trader. Thankfully, in this incarnation of the Big Pairs blog, the author is now admitting that he is losing, albeit temporarily before he becomes the next Gordon Gekko or Jordan Belfort. At least he has decided that he likes working after all and will not be retiring to become a full-time trader. Funny but I have never regarded my occupation as retirement. I seem to be working harder than ever.

Obviously, Big Pair's screen grabs from his Betfair account show that he has money to burn. Although, I would have expected a CEO to have a far larger bankroll. It's the people reading his blog that don't have that sort of money that I worry about. I don't care if Big Pairs loses all of his money. He has advertised more than adequately that he doesn't know what he is doing and that he has no time for critics. It's the people who believe him to be a good trader (when he isn't) and who want to emulate him (by losing money they can't afford to lose) that I worry about.

For many traders who have a website their blog is an extension of their ego. I hope that my ego doesn't stand out too far from a (hopefully) truthful account of my research activities. I know that some readers expect to see free strategies and to be led by the hand to immense wealth. As I have said before "an edge shared is an edge halved" so you can't expect my strategies to be discussed. This blog is about informing you that a positive edge is hard to come by, that your edge should be hidden from prying eyes and that profits are never guaranteed. All else is luck and good fortune.

Finally, I would like to make a plea to other traders who write blogs not to create the illusion that trading is easy and that everyone profits (90% don't!). We have a responsibility towards others to be honest because there is the potential for lives to be financially ruined and worse. And please, stop publishing photographs of yourself on holiday, "living the life" because being stuck at a desk longer than the average office worker is no life at all!

6 comments:

  1. Hi James,

    I came across your blog last month. I am a programmer myself and I am trying to make it as a full time trader. I really enjoy reading your blog entries but I am not sure about this one.

    Your main problem with Big Pairs blog is "that for the unknowing they create the impression that anyone can become a trader".

    I am a relatively newbie and I dont think his blog does that for me. For e.g. take his recent post which starts off with "I think one of the most frustrating aspects of betting models is their ability to nosedive just as you've gained some confidence in them. Last week I reported how the football overs model had reversed at an alarming rate. This week saw more of the same and my £1,000 bankroll tumbled further into the abyss." There are more quotes which back this up: "August is the eighth month of tested results and it has been an unmitigated disaster with the biggest drawdown so far by a country mile."

    While Big Pairs could be accused of being overly enthusiastic about a model without having sufficiently tested it, he is refreshingly honest about his losses. I have a far bigger problem with traders who post screenshots of their wins (and not losses), eliciting enthusiastic responses from the amateurs.

    Finally I dont think there is enough his blog posts for you to question his credentials as a CEO. I have met a few CEOs/tech entrepreneurs who wouldnt make it as a trader. He doesnt claim to be a CEO of a Fortune 500 company. He just claims to run a company (could be anything really). Also your statement 'Although, I would have expected a CEO to have a far larger bankroll': maybe he is just managing his risk :)

    Personally I am not the biggest fan of Big Pairs blog but to me it doesnt smack of one of those look-at-me-Im-trading-and-living-the-high-life blog. Just my 2 cents.

    Marques De Campo

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  2. Thank you for your comment Marques. You have made many fair points.

    I did think twice before writing the post. Previously, I made reference to Big Pairs through other more cryptic posts but as Cassini had let the cat out of the bag I had to put in my 2 cents too.

    Maybe you have not seen the previously deleted posts by Big Pairs and so you only have the blog as is to go by. Many of Big Pairs followers are from the time of the earlier (even more optimistic) blog and so they might imagine a "pick yourself up, brush yourself down, start all over again" approach is ideal for a LOSING trader who demonstrates over and over that he has no talent for maths, logic, research or trading.

    Yes, you are right in that I know nothing about his background or what kind of CEO he is. But that is what happens when someone hides behind a pseudonym. You can say almost anything you like and people can believe anything they like and neither side can prove anything. In fact he had another job title before and changed it without fanfare along with the bankrolls that came and went. Also certain things from the new blog don't match what he said in the previous blog. My name is known to all and with some solid researching skills quite a lot of my background can be found. I have nothing to hide.

    I guess it was the blasé way in which someone who is obviously quite young talks about leaving their job and becoming a professional trader without having really thought it through that angers me. What he says is that he already lives a comfortable life as an executive (including much global travel, if that is to be believed) and that sports/forex trading can keep him in that lifestyle when he so chooses. It is a statement that lacks maturity, which also makes me doubt everything he says.

    And yes, I do worry a lot about people who read trading blogs and who only imagine getting wealthy. I have certainly provisioned for my retirement but it will not be an overly comfortable one.

    I am certain that as a programmer you have all the intellectual equipment to understand that trading is not easy and that Big Pairs is not a good trader. However, you are in the top echelon. There are many who read these blogs who are too young to have developed an intellect or who just don't have any intellect at all. The kind of people who play the fixed odds machines in betting shops, who buy scratch cards or play the lottery. Edge is not an easy concept for many to understand. The kind of people who don't understand the difference between a bad winning bet and a good losing bet. It is those people that I feel a certain responsibility towards. I have a name and reputation to protect rather than a pseudonym to say anything from behind.

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  3. Thanks for your response James. I appreciate your endeavor to present trading in an honest manner! Your blog consistently delivers the message that trading is not a get rich quick scheme. And I agree with you that as bloggers we should present trading for what it is.

    I didnt know about the deleted posts so thanks for pointing that out. It will be good to get some clarification from Big Pairs about them and Im looking forward to his next post :)

    And just to re-iterate: I really enjoy reading your other blog entries! Keep them coming.

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    1. Just stop and think for a moment.

      He purports to be a CEO of a multi-billion dollar global organisation.

      What sort of salary do you imagine he has?

      And, when you have come up with a figure then ask yourself, "Why is he bothering?" and "Who is he really?"

      My answer to those questions would be:

      1) A multi-million $ salary.

      2) I wouldn't.

      3) A fantasist.

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  4. Thank you for sharing your vision and experience people like you and blogs such this don´t abound.Since I discovered your blog I´ ve learned more here that following the majority since I was interested by sport trading.Not so long ago but enough for don´t believe stories of a luxurious life,easy profits and less that winners shows methods with total transparency.Thank you very much and excuse my English,greetings from Spain

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    1. De nada. Es un placer.

      Viví un poco en Madrid y en México D.F.

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