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Proffittak@xxxxxxx wrote:
> In a message dated 7/27/00 9:35:22 PM Eastern Daylight Time,
> roncer@xxxxxxxxxxx writes:
>
> << RTs,
>
> Has any body tried David Wright's trading course for $389? Any and
> all comments appreciated.
>
> Ron
> >>
> Hello
> DO not buy anything from him
> THERE is nothing in there you can not get by reading a few good trading books
> Ben
RT,
I just received in the mail my "Wright Flyer". I scanned the letter and was
shocked to read that he suggests that you can trade E-Minis and currencies by
opening a $5,000 account. This is not only
very hazardous to one's financial health but plain stupid for both Wright and the
customer as a business strategy. Suggesting a $5k account is a formulae for
almost sure disaster. Even with the best trading system in the world, one would
need 100% accuracy, 100% adherence, and virtually no draw downs. Theoretically,
if anyone owned such a system, they would soon "own" the markets, barring that
the markets would soon adjust and not allow such a phenomena
Given that at least 99% of those who take Wright's advice to trade E-minis on
a $5k account will soon go bust, regardless of his trading system, then the
customers can not end up with a very good feeling about Wright. Bad feelings
lead to no business. So, all around, this is clearly stupid advice for both the
customers and Wright. If he knows better, then he must certainly be desparate to
sell systems knowing that it is a one time shot and may lead to legal problems.
Also consider that someone who would give such dumb advice is either ignorant
about trading, or is either ethically or intellectually deficient. If I were ever
inclined to buy a trading system from anyone, it certainly would not be from
someone of this persuasion. In short, given the suggested parameters, if Mr.
Wright's system can fly, it will certainly crash.
Shockingly,
Norman
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