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Steve wrote:
>Does any one have any experience with "Natural Order Educators" by Stephen
>Cox the web site is: http://www.the1percentclub.com
YES. I have experience with it. I was never able to do better than
break-even trading with it, and I didn't recover the price he charges.
I don't know what he's charging now. In the 1990s when I purchased
his methods I paid $3000. What I got in return was some xeroxed
copies of handwritten notes and charts, and a month or two of
telephone consultations.
He does NOT give refunds. I didn't ask, but he told me anyway.
Recently I tried calling him for an update, but he never returned my
call. He doesn't make money supporting old customers, of course. He
has to keep finding new ones.
While I cannot divulge details due to a nondisclosure agreement, I
can say in general terms that his methods involve trading fibonacci
retracements using extremely tight stops, using a strict set of
rules and conditions (which seem fairly well thought out). He
throws in fibonacci time analysis as well. You will be amazed at
how well his techniques fit past history, calling highs and lows
with super accuracy. And you will be frustrated at how hard they
are to apply to the future.
Trading fibonacci retracements is attractive to beginning traders
because it emphasizes entries. But entries don't make money. Exits
do. You can make money with random entries, as Van Tharp, Mike
Higgs, and others have demonstrated. I don't recall that exits were
ever emphasized beyond some basic rule like setting a stop at the
extreme of the last bar. I don't recall he never mentioned money
management, which is the real key to making profits once you have a
positive-expectancy system.
Even during my phone consultation with him, he was "evolving" his
methods, modifying the rules and so on. He also began by promoting
to me something he later abandoned when I pointed out that the
vertical scales on charts is arbitrary - entering when the market
breaks through support or resistance lines that have been drawn at
angles relating to fibonacci ratios.
>While my thing to do is day trade the S&P, I have one account that I would
>like to swing trade and was wondering if this may be the route to take.
If you get his stuff, contact me. He hasn't returned my calls. I am
curious to see what he's doing different now. I'll be happy to swap
materials with you.
>As much as I hate mechanical systems, I might even be willing to look at
>one for this purpose. So any suggestions on this would be helpful as well.
This isn't a mechanical system. He even says on his web site "Never
have to trade a mechanical system again!"
--
,|___ Alex Matulich -- alex@xxxxxxxxxxxxxx
// +__> Director of Research and Development
// \
// __) Unicorn Research Corporation -- http://unicorn.us.com
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