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Eric,
In a message dated 97-12-05 11:45:32 EST, you write:
<<
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??
>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.
RL:
Eric, as I read this post, and upon revisiting the
post, it seems clear to me what is advocated is
securing the services of a CTA for commodity investing, and he would then be
relied upon to initiate
and manage commodity trades. Leaving the commodity trader in the zen-like
position of
being a trader without trading.
Granted, the CTA business is a worthwhile and
honourable venue for one's career choice, and the
business, as a whole, seems to provide good service
for those not inclined to endure the temperaments
of the business of trading. However, it seems to me,
and given the tremendous odds against the trader,
that there is much which should be gleaned about how professionals approach
the business of trading.
As for system vendors, I applaude the cautionary
clarion call to view them with a dollop of scepticism.
As a CTA, I imagine you have access to some wonderfully impressive systems
and/or methodologies.
And, probably, are inundated with salesmen calling
with brand spanking new opportunities.
If Mr. Nederhoffer was "an abberation", and 95%
of the hoi polloi public are doomed to failure upon
entering the lion's den, certainly that implies there is
a distinction between professional and emotional
trading which can be learned and incorporated by
the trading public. Surely, without discounting the
inherent risk in trading, there are rules and protocols
to be adhered to when approaching trading as a
business. I imagine Mr. N broke more than one on
his road to infammy.
My only point was, that if traders hire someone
to trade the markets, then they are no longer a trader.
And, of course, going the CTA route is legal and
acceptable by society for any wishing to invest there.
But, having done that, the investor is no longer trading.
If all here take that advice, my RealTrader readings should be cut by
proportion, as only stock traders
will be left.
Thank you, for pointing out the heavy odds against
me. I shall endevour to make David proud.
Have a prosperous '98.
Rory Lewellen RL2946@xxxxxxx
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
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.
>
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
>
> --------------------------------------------------------------->
>
>>
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