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<DIV><FONT size=2>About my simulated trading post</FONT></DIV>
<DIV><FONT color=#000000 size=2></FONT> </DIV>
<DIV><FONT color=#000000 size=2>Sorry the last one was long winded. I got
a note from someone accusing me of a commercial post</FONT></DIV>
<DIV><FONT color=#000000 size=2></FONT><FONT size=2>I am a customer of
tradecomp simulated brokerage. That is all. I just think they
are good and </FONT></DIV>
<DIV><FONT size=2>cheap. </FONT></DIV>
<DIV><FONT size=2></FONT> </DIV>
<DIV><FONT size=2>Andrew S.</FONT></DIV>
<DIV> </DIV>
<DIV> </DIV>
<DIV>800-233-7906 <BR><A
href="http://www.tradecomp.com";>http://www.tradecomp.com</A><A
href="http://www.tradeco";> </A></DIV></BODY></HTML>
</x-html>From ???@??? Wed Mar 17 20:37:22 1999
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Date: Wed, 17 Mar 1999 21:16:22 -0700
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From: "Gary Fritz" <fritz@xxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Subject: Re: Ned Gandevani: references sought
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> One private e-mail said he took a trial and decided not
> to purchase. Another said that his methodology is very
> subjective and if you didn't take the trade it was hard to
> understand why not--and vice versa.
I was one of Ned's first students, back in 1997. His course has
probably changed a bit since then, but I don't think it's
fundamentally different. My opinions:
* Ned is a genuinely nice guy. I think he is honestly trying to help
other people learn to trade profitably.
* I've spoken to several people who sat with Ned during a trading day
and watched him trade, live, with real money. They all said the guy
is an absolute wizard. He really DOES hit 80% or so winners. From
all appearances (including his spacious Long Island house) he is
financially very comfortable, and he has no financial need to sell
his course. He really seems to enjoy teaching his method to others.
* However, he does not seem able to convey his trading ability to his
students. His class covers some useful techniques and market
knowledge that I found very enlightening at the time. But other than
computing some key S/R levels, the methodology is very subjective. I
think Ned has hundreds of "rules" in his head that he applies
subconsciously to filter out trades. He covers some of the basic
ones in the course, but I doubt he's even aware of all the behind-the-
scenes processing he does.
* On the other hand, I think that kind of subjectivity and
subconscious filtering is used by MOST traders, other than pure or
nearly-pure system traders.
* I really like some aspects of his methodology. I wish I *could*
trade it. I actually paper-traded it, in realtime, for 2 solid weeks
and averaged 4 handles a day, even though I was still making a lot of
dumb newbie mistakes. Then I started trading it with real $$
(stupidly, with the big contract instead of emini's), and managed to
call 7 losers in a row. 4 of the 7 trades started to unfold exactly
as I expected, then they suddenly spiked back 1-2 handles to JUST
touch my stop or go 1 tick past, then they continued on to be a big
winner. I'd take a big loss, sit out a few trades to lick my wounds,
and each trade I called while on the sidelines worked perfectly and
made 3-6 handles or more. Then I'd jump in for another real one, and
wham! I'd get nailed again. 7 consecutive losses like that was
enough to decimate my too-small account and knock me out of the game.
If I'd started with the emini I would have taken the losses without
so much damage, stayed in the market, and been there for the big
winners. My fault.
* The killer: I don't know of anyone who's trading Ned's method
profitably, other than Ned. I've spoken to 4 or 5 of his students,
and all of them love the method but can't make it work. One of them
went on to take Ned's "advanced" course, and paid for several
*months* of daily coaching and mentoring, and still finally gave it
up. I'm sure there must be SOME people out there who successfully
picked up Ned's methods, given my near-success and my near-total lack
of discretionary trading skills. But none of the people I talked to
could make it work.
I really wish Ned's methodology worked better. He's a nice guy and
he deserves the satisfaction of helping people succeed. But for me
and for the people I talked to, it just didn't work.
Gary
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