|
PureBytes Links
Trading Reference Links
|
This is why I have challenged the day traders a few years ago,,
This was my challenge,,
fax me your broker statements,,
it must show NO position trades,,
if you were profitable 4 month in a raw and net 50000,, 100000,,,
etc
I WILL MACH it $ for $
NO ONE fax it!!!
Ben
----- Original Message -----
From: "Neal Hughes" <neal@xxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Tuesday, February 12, 2002 10:23 PM
Subject: [RT] Evaluating other trading methodologies.
>
> You pose a common puzzle..
>
> His own 80% performance, and his trading statements are irrelevant.
>
> Even if he provided statements which show that performance, you could not
> take them at face value. Are they "doctored"? Do they represent only
> trades made consistently with this methodology? Did he have a few
> trades which make a big difference to his $$ results? Do the statements
> cover a period of more volatility than the current markets? Was it
> during the past bull market? As we all know, the past is not the same
> as the future. Could he even duplicate his own performance in the
> future? His statements would tell you nothing, in the end.
>
> Here is a humorous analogy.. Say I presented you with a calendar of
> how often I hopped into the sack with my darling. (This would have
> to be an intraday-chart for sure! ha! ) Do you think you could have the
same
> degree of bliss with her? You are not me, so my "performance" is not
> going to be the same as yours. Just because I do well with her, doesn't
> mean you will.
>
> He may achieve 80% win-loss while you do poorly with the same
> methodology. You may achieve 75% with a completely different
> methodology while the person teaching it to you only achieves
> 28%.
>
> The statistics are quite meaningless.
>
> Even if he can maintain 80% successful trades, and even if he can
> teach you what he does, even if he actually does teach what he
> does, you most likely will not be able to duplicate his performance.
>
> Unless it is a totally mechanical system, you can't hope to duplicate
> his trades. As a human you will introduce your own personality into
> the trades, your performance will be different. Ask that lady in the
sack..
>
> It is VERY unlikely to be a mechanical system if he does
> achieve 80% win-loss. Mechanical systems typically have a much
> worse performance. It's certainly not a mechanical system if it achieves
> that performance and only costs you $2000.. Such a mechanical
> system would be priceless.
>
> You need a less expensive way to explore his methodology, to see if
> you are suited to it. This is most important.
>
> You will never know what your performance will be until you trade that
> methodology.
>
> Ask his past students about their performance, and what the methodology
> entails. Do this until you can get a sense of whether the methodology
> may be compatible with your personality. Even then you can't be sure.
> After learning the methodology, TRADE SMALL. Take only small positions
> until you can prove to yourself that you are good at that methodology.
>
> That may be the best $2000 you ever spent. Or it may be a waste. The
> statistics have no bearing on this.
>
> Phew! That's enough for now, I'd better stop before people start calling
me
> "Ric". This is about as wordy as his random rambling drivel! Apologies to
> the list.
>
> -Neal.
>
>
> At 08:34 AM 2/12/2002 -0700, you wrote:
> >There is a guy traveling around giving classes for his Natinal Institute
of
> >Commodity Training from Lexington, Kentucky. He promises 80% successful
> >trades. He charges about $2000 for a class. Can anyone say what this guys
> >system is or what his 10 conditions are. Thanks
> >
> >
> >
> >To unsubscribe from this group, send an email to:
> >realtraders-unsubscribe@xxxxxxxxxxxxxxx
> >
> >
> >
> >Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/
>
>
>
>
>
> To unsubscribe from this group, send an email to:
> realtraders-unsubscribe@xxxxxxxxxxxxxxx
>
>
>
> Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/
>
>
To unsubscribe from this group, send an email to:
realtraders-unsubscribe@xxxxxxxxxxxxxxx
Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/
|