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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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