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Dirk,
If Mark B. is such a hotshot player, why hasn't he made a contribution here
other than negative comments concerning other people?
Secondly, I take great exception to your comments concerning trolling for
business here. I've been on this list ever since the old DOS days back at
CompuServe and in that probably over 20 years have never asked for or tried
to generate funds from anyone on the list.
I talk out loud because I'm just starting to trade equities and options and
am looking for guidance in that area. I do mention our futures trading, but
since those trading signals are what trigger our other trades, it's hard to
avoid mentioning them. I have been posting them as we make the trades. I
constantly remind people not to trade these posts because I might be sick or
out of town and not post our reversals and don't want the responsibility for
OPM.
I would like to reiterate that we are not looking for capital from anyone
here. With a little luck, and if I can get this loss turned around this
month:), we'll be trading over seven figures of our own funds. Why should
we bother looking for money from other people? It's too much trouble with
all of the regulations and not worth the grief and effort, let alone taking
the risk of handling OPM. Since this is just a sideline with my brother and
myself, we don't want it to interfere with our golf handicap, enjoying our
families and generally having fun in the sun.
Guy
Paranoia...you only have to be right once to make it all worthwhile!
-----Original Message-----
From: owner-metastock@xxxxxxxxxxxxx [mailto:owner-metastock@xxxxxxxxxxxxx]On
Behalf Of Dirk de Vos
Sent: Wednesday, July 12, 2000 12:15 PM
To: metastock@xxxxxxxxxxxxx
Subject: Re: Risk of Ruin
FYI, anybody who knows squat about professional trading knows Mark B is one
of
the better system traders in the country. He's easily worth millions (hires
his
own programmers and created his own software package for trading, because
Omega's
TradeStation was not good enough). (Jean Jacques also seems to be
professional
trader.) Real traders don't trade out loud. Anyone repeatedly posting their
trades or methods generally wants clients and your money--if not now,
sometime in
the future.... That's fine, but it points to the underlying "merits" of
their
trading systems (ie. the need for trading capital not derived from their
system).
Brown doesn't need anyone else's money; rather, he funds other traders
occasionally. Last year, he was funding qualified CTA's with $500K for
starters,
which is "chicken feed" for him. As the saying goes, "do as I do, not do as
I
say...." Those who need capital because their systems aren't up to par go
fulltime into the advertizing business, for which this list provides a
convenient
venue, among others. .
Macromnt@xxxxxxx wrote:
> In a message dated 07/11/2000 11:20:52 PM Eastern Daylight Time,
> joeduffy@xxxxxxxxxxxxxxxxxxxx writes:
>
> << Last year on another list a guy (actually an astute guy, who makes very
> valuable contributions) posted several times that if anyone could prove
they
> made money day trading he would give them $50K >>
>
> Not only I take the bet and I am not talking $50K, but I will also suggest
> for those who have found a great trading system to contact Commodities
Corp.
> or Caxton for instance. Those people know what they talk about and if your
> system pass their test you are really on something. That's how Paul Tudor
> Jones or Louis Bacon have started.
> Personally I am looking for great systems to give the best service
possible
> to my clients (and to make as much money as I can in incentive fees). I
have
> e-mailed privately to Guy to know more about what he is doing. Some
answers
> to my questions go against everything that is widely accepted by the most
> respected people in the industry. A 33% risk per trade is definitely
> unacceptable and shows that the string of losers study has been neglected.
As
> to defining the risk as the initial margin, even if it works this is
> unprofessional and despite Guy's 50 years combined experience looks very
much
> like a beginner thing. It does not mean that there is no good but in my
> opinion there is a lot of work to be done specially on the money
management
> size. Having good signals is very far from been enough.
>
> Jean Jacques
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