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RE: [Metastockusers] Full time private trading... ... an unattainable dream?



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<FONT face=Arial color=#0000ff 
size=2>Dan,
<FONT face=Arial color=#0000ff 
size=2> 
Is the 
CMO your referring to the Chande Momentum Oscillator?
<FONT face=Arial color=#0000ff 
size=2> 
<FONT face=Arial color=#0000ff 
size=2>Adrian
<FONT face=Arial color=#0000ff 
size=2> 

  
  <FONT 
  face=Tahoma size=2>-----Original Message-----From: Dan 
  [mailto:amarones@xxxxxxx] Sent: Friday, 17 January 2003 3:19 
  AMTo: Metastockusers@xxxxxxxxxxxxxxxSubject: Re: 
  [Metastockusers] Full time private trading... ... an unattainable 
  dream?
  Bill - 
   
  I was fortunate enough to hook up with Steve 
  Karnish (who is an incredible system researcher and person) about a year ago. 
  He shared his work with me and invited me to participate with him in 
  development. What we (he) developed is a very simple trend qualifier and a 
  variation of the CMO. I suppose you could call it the Karnish Momentum System. 
  Very simple, very effective.
   
  Dan Edens
   
   
  <BLOCKQUOTE 
  >
    ----- Original Message ----- 
    <DIV 
    >From: 
    <A title=bbeaman@xxxxxxxxxxxxxxxxx 
    href="">Bill Beaman 
    To: <A 
    title=Metastockusers@xxxxxxxxxxxxxxx 
    href="">Metastockusers@xxxxxxxxxxxxxxx 
    
    Sent: Thursday, January 16, 2003 7:39 
    AM
    Subject: Re: [Metastockusers] Full time 
    private trading... ... an unattainable dream?
    
    Dan,
    Did you develop the mechanical system yourself 
    or is it one 'off the shelf'?  Would you share the name or the 
    system?
    Thanks
    Bill Beaman
    <BLOCKQUOTE 
    >
      ----- Original Message ----- 
      <DIV 
      >From: 
      Dan 
      To: <A 
      title=Metastockusers@xxxxxxxxxxxxxxx 
      href="">Metastockusers@xxxxxxxxxxxxxxx 
      
      Sent: Thursday, January 16, 2003 8:34 
      AM
      Subject: Re: [Metastockusers] Full 
      time private trading... ... an unattainable dream?
      
      Nick- 
       
      I have been trading off and on for about 10 
      years, both privately and as a CTA for a time. I am definatley on the 
      short end of the net zero game as a whole, but my dream of being a full 
      time trader has been revitalized and is on the way to being realized in 
      the last year.
      Who knows, I may blow up the account and have 
      to start over again at some point,  but my experience in trading 
      tells me I've finally found what works for me. I think that is the 
      key - what works for each trader. I spent what feels like a lifetime with 
      everything in the trading world that didn't work for me.
      I disagree that one must switch markets to be 
      consistently successful. If any market has the characteristics of orderly 
      accumulation and distribution and sufficient liquidity, then it can 
      be consistently traded.The markets on the U.S. futures and equity 
      exchanges offer too many issues and markets that exhibit these 
      characteristics for me to consider trading more than just the cream of the 
      crop. I don't think it is necessary to switch from domestic to foreign 
      markets and from equities to futures to be successful - there are so many 
      market personalities within each of those sectors, that the opportunities 
      are far more than I have the capacity to consider.
      For me it would be ludicrous to ignore either 
      the long or short side of the market because it would mean giving up half 
      the potential profits. I use a 100% mechanical system developed with 
      Metastock that averages 76% winners. It's not perfect, but it backtested 
      an average gain of 240% annually over the last 2 years and is 
      perfoming as advertised in real trading.
      For me the clouds have lifted and I can 
      finally see the dream of being a full time successful trader on the way to 
      being realized.
       
      Dan Edens
       
       
       
       
      From: <A title=zaiguy@xxxxxxxxx 
      href="">Nick Leong 
      <BLOCKQUOTE 
      >
        To: <A 
        title=Metastockusers@xxxxxxxxxxxxxxx 
        href="">Metastockusers@xxxxxxxxxxxxxxx 
        
        Sent: Wednesday, January 15, 2003 
        4:29 PM
        Subject: [Metastockusers] Full time 
        private trading... ... an unattainable dream?
        
         Hi group,
        I&#8217;ve been reading some 
        articles about the hedge fund management industry and how most funds 
        sustained losses over the past 2 years especially since Sept 11 and the 
        US corporate scandal. This is coupled with a statistic I read that most 
        novice traders leave the trading arena after about 3 months. These 
        events really got me thinking&#8230; &#8230; is it really possible for one to be a 
        full time private trader?
        I&#8217;ve been trading privately 
        for about 4 years not and like most of you I&#8217;ve had my ups and downs. I 
        am a firm believer that trading the market is a zero sum game. Someone 
        MUST lose in order for me to make a gain. However, the law of averages 
        dictates that it is just not possible for anyone to be winning all the 
        time. That being the case, is it actually possible for anyone to be a 
        full time private trader (i.e. trade using only his own money and make a 
        living out of it)?
        The only possible way for 
        one to make money is possibly to be engaged in the right market at the 
        right time, e.g. to switch between the equities/futures/derivatives 
        markets or switch between the US/Europe/Asian markets. But we must also 
        remember that a private trader does not have the resources or the mental 
        capacity to handle so much information or research at a single time. 
        What option would be left then? To specialise and trade only in specific 
        markets and sit things out when everything is not going well? Do not 
        forget that a downturn in the market can last for years.
        We can go into the nitty 
        gritty and say that we must set up stops to prevent losses, but I&#8217;m sure 
        most of you have been in the situation where you were stopped out too 
        early or you had given so much room before being stopped out that you 
        suffered a painful loss. Don&#8217;t get me wrong, I believe that trading and 
        investing is an art and there is no one mechanical way of getting the 
        right results. Ultimately, we are all looking for one thing&#8230; &#8230;PROFITS. 
        However, I have come under the increasing impression that the odds are 
        severely stacked against the private trader.
        I look forward to hearing 
        from you guys on this matter.
        Thanks.
        <SPAN lang=EN-GB 
        >Nick 
        Leong
        
        
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