It is worth pointing out that there are many trading strategies that only work if you have an unlimited cash base, such as writing expensive options that when they go into the money, you leave them open, and write the next strike out- effectively double or quits which is fine if the "double down" doesn't cost you more than the bankroll.
Accounts are busted because it does of course.
I think anyone giving trading advice needs to stipulate the account size that such recommendations are aimed at.
Anyone talking to me would get answers based on single-lot trades in futures, and out of the money 10-lot clips typically in options. I tend to state what I'm doing, as I'm not a market professional in any way - I have spent 20 years trucking the various freight loads around the country, so I'm more familliar with the physical delivery market rather than virtual contracts in a computer world if you like. I've recently turned down the opportunity to get involved with the petroleum delivery side of things, but feel that the pay is less than what the responsibility deserves.
In Coral's favour I would say that I feel no pushy behaviour to get involved in any way that which lines his pockets, indeed I thought he was a semi-retired professional just laying on some "how to" posts, and a bit of friendly-banter opinion. I have heard of the flames, but as only a casual reader/poster here, I can't say I know the full picture.
As for "risks", I don't know how it is in the States, but in the UK there is NO school of "how to trade devivatives" - you learn by cold hard experience, and as I've said before, the school of hard knocks. I believe this is far more valuable experience than working for some investment bank which can only sack you if you blow their stack. Being punished for being wrong is a great teacher, and it has to be said that real trades are worth a thousand "would buy if it hit this price" etc. especially when trading the often-misread "breakout" that to me represents a type of risk I am not prepared to handle. That's all I can say about any poster here I might disagree with.
This is a message board for expressing views, opinions, and chuck in a bit of banter for good measure. If I thought someone was trying to tout my business, I might get upset, but since that isn't the case, I wont, and suggest others don't take the posts on here too seriously either.
If anyone knows better, then trade it, make money whilst those in the wrong lose it, and natural selection will decide who the last one standing will be.
Longevity speaks quite loudly on that one, at least as who's been around the board the longest, and who fizzles out never to return. To my knowledge, Coral has been on here a long time, and unlike the now-vanished DrMarty (whom it must be said, may have actually died?), he is still here. I don't agree with his Trading methods either, but I still read the posts, because I like the healthy debate that it represents to me - a different spin on the same market that may well be diametrically opposite my own methods and views.
Less flaming, less personal critisisms, and more posts about actual markets gentlemen please!