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Dear Steve,
Perhaps 10 years ago, I read Cox's ad as well as a very similar ad from another
fellow --- seemingly for practically identical materials. I telephoned both,
and what the other guy (whose name I have forgotten - it might have been Steve
as well) told me was that he and Steve had been partners (I believe in the
Dallas area) for their program, but had had a falling out, and each had gone
his own way, now selling his own version of their collective effort. Steve
later confirmed much of this to me in a later phone call. I bought this other
guy's materials, for around half of what Steve was asking for his.
What I recall about the materials I received echos what Alex said --- it was
basically a Fibonacci retracement and extension program, both in price and in
time. The fellow had an uncanny knack for getting it to work with historical
data. I did not have an uncanny knack for getting it to work with realtime
data. I quickly abandoned it and went on to other pursuits.
I really think we are in the wrong business. What we need to do is come up
with some high-fallutin' sounding "system" or "program" etc. that has a lot of
nouveau-sounding buzzwords (analytic, differential, stochastic, chaotic
price-time convergency), develop lots of multicolor charts, put together a
multimedia Powerpoint program, hit the road, and sell thousands of copies to
beginning traders, before they come to grips with there's really nothing new
about trading under the sun. I can't begin to tell you how many thousands I
have spent on systems, programs, books, etc. such as Cox's, so I'd like to be
first in line to recoup some of my own $$$.
Hey, what is trading anyway??? When the price goes up, buy. When it goes up
some more, buy some more. When the price goes down, sell. ... Well, I'm sure
you get my point.
Sincerely,
Richard
Alex Matulich wrote:
> 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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