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>
----- Original Message -----
<DIV
>From:
Adrian Pitt
To: <A
title=Metastockusers@xxxxxxxxxxxxxxx
href="">Metastockusers@xxxxxxxxxxxxxxx
Sent: Friday, January 17, 2003 12:43
AM
Subject: RE: [Metastockusers] Full time
private trading... ... an unattainable dream?
<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: <A
href="">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’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… … is it really possible for one
to be a full time private trader?
I’ve been trading
privately for about 4 years not and like most of you I’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’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’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… …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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