|
PureBytes Links
Trading Reference Links
|
Michael Paauwe wrote:
>
> Randy Tareilo promoted this method, presented and promoted in October 1997
> by Jake Bernstein to the *Association for Technical Analysis* ( AFTA) in
> Texas, for trading the S&P 500, currencies, bonds, and stocks.
>
> Tareilo said he used it to 'double the profits on one of his professional
> systems with the same amount of risk'.
>
> Based on the S&P 500 stock futures contract test results posted here for the
> past one year of four closed contracts, this promoted day trading method
> probably doesn't work on the vast majority of stocks either.
>
> Randy said:
>
> >But Mark, it gave me a ideal to improve one of my professional systems
> >and to double the profits with the same amount of risk --- Great,
> >right!!!
>
> Randy, one question for the list(s)... if it doesn't work on stock futures,
> why should we think it would work on a portfolio of stocks?
>
> Any more mechanical system test results or training to promote here, Randy?
> Jake?
>
> good trading and regards to all,
> Michael Paauwe
> mpaauwe@xxxxxxxxxx
Michael:
I also attended one of Jake's "Market Timing Seminar" about six months
ago here in Philadelphia. He's a nice guy and had some interesting
things to say and for $89, who cares if he is really trying to sell his
many other services, which I counted no less than 48 available. These
included video and audio tapes (13), seasonal research studies (7),
selected books (19), research studies (2), subscription services and
hotlines (7) to name a few.
Jake is a business man, in my opinion, and offers his advice and gets
paid for the offering and he hopes to obtain residual funds from his
other services anf from the two commodity brokers who are part of the
show. There were about 70 people there and at $89, that's about $6,230
for one days work. And he was off to California the next day for a
Sunday session and probably another $6000. That's a lot more than I make
day trading for two weeks not to mention two days!
Finally, you are absolutely right about that day trading system, if
it's the same one he espoused in our seminar. Sounds great when he
explains it but good luck trying to trade it. A total disaster. But
are they not all the same? These guys selling their systems. If it was
that easy, we'd all be extremely wealthy: Buy 'em, plug 'em in and
retire.
Keep your comments coming.
Regards,
jdfo
|