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David Hunt wrote:
> There simply needs to be a separate category for Systems Developers and
> Sellers that does not have the same capitalization and audit requirements
> etc of a CTA who actually handles peoples money. Wouldn't that be a
> smarter idea than putting someone into the wrong box?
>
> David Hunt
> http://adest.com.au
>
They should at the LEAST demand that a system vendor provide an audited track record showing that
they traded every signal for a year. This one requirement would eliminate 99.99 percent of the fly
by night, bull market wonders. One day this market is going to kick some serious butt and most can
go back to selling shoes. I cant wait to see it happen myself. I listen to an oldie Rock and Roll
station and they have a program they play every so often called :" One Shot Wonders ". Rock groups
that had only one hit and that was it. I have a catalog from Traders Library and often wonder how
many of these authors will even have a market related job in the next few years? There are names
popping up every day, authors I have never in my life heard of. I recently saw a book claiming the
accomplishments of some system vendors and the fact is that 90 percent of them listed in that book
don't even trade their own system. If you sell or lease or advise trades or systems, you should
provide proof that you have some real time history" with real money ". Is this to much to ask?
ps There are some good authors out there and some good honest vendors. It is those guys who are
shaking their head because they refuse to make the unrealistic claims that most people want to
hear. It is hard for a honest guy to stand out. As I set here and look at my notification by the
NFA that I need to complete my yearly Ethics test. I am sad that I have such little company and
wonder if I shouldn't give it up and tell the public what they want to believe. I could get rich
enough to hire some good lawyers before they catch me I guess. Or better yet would to be a
Vendor/Lawyer!
--
TC
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