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RL, Thanks for your comment below. I guess one negative comment out of
several is ok, but I must respond....
"Abdicate responsibility for their trades" ???????? Where do you see
that in my post??
Each day I read here about people who are struggling to trade for
themselves, people who are losing money, people who have bought dozens
of systems and newsletters, people who are looking for the easy short
cut to the holy grail. All I am saying is that if their goal is truly
to make money in commodities, some of those people would be better to go
a different route. Just because it is a "traders" forum, doesn't mean
other related ideas shouldn't be mentioned.
As traders, we all play a percentage game. We are trying to use the
methodology and take the trades which have the best chance to be
profitable. It is all odds.
Well, the odds are HEAVILY stacked against the individual trader. That
is a fact. The odds are against making money with a small account, the
odds are against making money without a great deal of experience and
discipline, the odds are against making money without alot of "trading
resources" at hand, the odds are against making money trading on a part
time basis, the odds are against making money from a methodology/system
sold by a public vendor. These are all realities and we are supposed to
be trying to get the odds on our side. Of course, individuals can and
do make lots of money in some cases. Some of the people in this forum
are those profiteers, but most are not. And some of those that aren't
may need to face reality a bit.
Far from "asking everyone to give it up", I am simply saying there may
be a better way to profit in the commodities market. Finding a
reputable CTA or fund who has been in business for awhile and been
profitable MAY be that better way. The vast majority of individuals
cannot "improve upon" the systems or performance of the top CTA's over
the long term.(of course, some can, but look at the odds) They simply
do not have the resources or experience to do it. And they will
generally spend an incredible amount of money to learn the lessons that
need learning.
Yes, this forum is for us to help each other to learn to trade for
ourselves. I am trying to do that by simply hinting to everyone that
there may be a better way to slay the dragon. David VS Goliath is
romantic but what are the odds?
Obviously, this advice is NOT for the many traders here who already have
a strong, well reserearched, successful methodology; but it is for the
many traders struggling to learn and losing and getting ripped off by
vendors, etc.
I am a CTA who manages money (and I have never solicited here or even
mentioned the name of my company, and I will not now) but, the point is,
I also trade money as an individual using different systems AND I have
personal money placed with other CTA's because I know my own
limitations.
All I am saying is people should forget the ego trip of "trading", and
honestly evaluate the odds of success and make your choices accordingly.
Sorry if this sounded preachy, that isn't my intention.
Good Luck,
Eric
RL2946 wrote:
>
> Eric,
>
> This is a forum for traders, including commodity traders.
> Please refrain from asking all those traders
> to abdicate responsibility for their trades.
> Anything a CTA can accomplish, each individual
> here can learn and perhaps improve on.
> Perhaps you know something about the business
> of trading commodities that will be beneficial to
> the group, short of asking everyone to give it up.
>
> Have a profitable new year.
>
> Rory Lewellen RL2946@xxxxxxx
>
> --------------------------------------------------------------->
>
> There are people out there who will provide details about their systems
> to you, watch the markets all day for you, trade your money for you and
> do your accounting for you, all for a relatively small portion of the
> profits.
>
> They are called CTA's.
>
> If you want the excitement of trading, fine, but if people are serious
> about making money with futures, the forget looking for the holy grail
> yourselves, find a GOOD, REPUTABLE,REGISTERED CTA, and invest with him.
>
> Granted, good CTA's are not a dime a dozen, but it is much easier to
> find a good CTA than to find a good trading system that is for sale to
> the public.
>
> (No Niederhoffer flames please, we all know that in the world of CTA's
> who have been around for awhile and performed, he is an extreme
> aberration and no one says this is low risk)
>
> Eric
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