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I tried his fax service about two years ago and was very disappointed. The
trades he recommended required very large stops, and just about all of them
did hit the stops for a loss. While it was only a month that I received
the fax, his calls during that time left much to be desired, and would have
resulted in some steep losses.
He does talk in the fax about buy programs, sell programs, and when he
expected them to occur. This sounded interesting to me, and is why I tried
the service, but the results never backed up his claims.
Regards,
Chris Lober
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> From: Marcelo Martinez <marcelom@xxxxxxxxxxxxx>
> To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
> Subject: Re: Mark Cook's Fax
> Date: Wednesday, August 27, 1997 7:47 PM
>
> Bill:
>
> I appreciate your candid account.
>
> >
> > I used Mark Cook's faxes
>
> Did you use the fax as a tool and trade yourself ?
>
> I have been thinking for six months of trying this route , but the
> price is a little steep. In additon , during this time I have been
> following his weekly "free" commentary and predictions , and I will
> compare that with actual market action the week following. He did
> predict some macro market turns , but I'm going to quantify that. Based
> on this info, I will make the decision to try the fax for the minimum
> amount of time and trade it myself.
>
>
> There were long idle periods and when he did
> > trade my account he promptly lost 30% ! in just two trades. Troubled, I
> > cancelled the account. Of course he said the money was only really lost
> > because I didn't have the commitment to really risk it all.
>
>
> I'm really surprised at this statement since he stressed the point at
> Future's '97 that you should only risk a maximum of 40% , afterwhich you
> can't really recover.
>
>
> > The one real problem I had with Mark was his inability to show
any
> > results in writing or a sample account. He even got very vague about
> > giving me references as he said these were big guys who didn't want to
> > be bothered with that stuff. He talks a Greeaat Game with lots of
> > dropped references to people for whom he rapidly quadrupled and
> > quintupled their money, but acted insulted when I tried to probe for
> > some verification. He also said he was 1 quarter from a 5 year winning
> > track record which Norm Zadah says still has never been accomplished by
> > ANY options CTA.
>
> I am also a stickler on track records whatever they way be. There is a
> troubling discrepensy between what he told you , and the image he
> projects, and articles that have been written about him. I did ask him
> at the conference what is his winning percentage , and he really did not
> answer me, hmmmm... So is he real or not ?
>
> I E-mailed him for previous copies of faxes so that I could check them
> against the market, and there was no response.
>
> I will let you know if I receive new information.
>
> Marcelo
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