A good friend of mine is a top DAX scalper. High frequency trading with returns each year of a few hundred percent. He's a known player in the industry. He wants to educate folks and offer a rebuttal to some of the scam services already out there. Thus he's thinking of opening up a sophisticated fee based live chat with a money backed guarantee. Is there a market for this? Do traders really want to learn how to make money? Is there a better way than Puretick?
Yes, there is IF he is the real deal ( let's start with posting some brokerage statements to show how successful he is...)
Lets see. "Known player in the industry" wants to sell his secrets. I'm guessing he is not or is not making much money anymore.
The guys who are players are unknown, make their millions and slip into obscurity. They don't sell chat rooms, newsletter or trading services.
Dont listen to the naysayers if this guy is serious I am sure he will find a market and if he is any good may get a good and profiable following He should go for it
All valid points guys. I could say the same about fund managers as well also, eh? Why trade OPM if you can get triple digit returns on your own. His reluctance in doing this almost outweighs his enthusiasm. Remember the Andy Kaufman bit where he took on magicians? As we all know magic is an illusion not realism. No one actually swallows the sword. Kaufman exposed how tricks are performed. Alas in trading there is no "system" allowing one to consistently capture profits. Trading is about intuitiveness coupled with rules. This is an opportunity for guy's to learn what it takes by watching someone who went from zero to a couple of million in profits. I have no idea if there's added value in such an exercise. It's got to be a better product than what's offered by Puretick though. As far as making money quietly and anonymously: I differ with some of you. When I was a young stud making a 100k a month it used to piss me off when I walked into a bar no one knew I was a big swinging dick. Notice how Soros, Niederhoffer, Schwartz etal are all published authors. Do you think Soros needs the money?
Of course he will find a market for it, no doubt about that. "Why trade OPM if you can get triple digit returns on your own." Cause 2 and 20% on hundreds of millions is a tidy sum.
no market for that and a ridiculous business model. no matter how good your friend is, he'll have drawdowns and he will feel pretty much unappreciated by those using his services when that occurs. most will leave and spread the word he is loser and the service a scam. in the end, instead of gratification, he will receive anger and bashing. successful trading is not about learning the magical midas touch but rather consistent wealth creation in the long run. this is achieved through discipline and diligent action and cant be teach in chat room to a bunch of losers that want to live off the markets with a $5k account, which is the typical subscriber profile. imo, the only way a trader can prove its capabilities to the outer world is by managing OPM.
Quote Pa(b)st Prime Big swinging dick? Some might argue... (double the incomes for $ values) The Trader Monthly 100: The Top 10 Name City, Firm, Age, Est. Income John Arnold Houston Centaurus Energy 33 £750-£1B James Simons East Setaucket, New York Renaissance Technologies Corp. 68 £750-£1B Eddie Lampert Greenwich, Connecticut ESL Investments 44 £500-£750M T. Boone Pickens Dallas BP Capital 78 £500-£750M Stevie Cohen Stamford, Connecticut SAC Capital Advisors 50 £500M+ Stephen Feinberg New York Cerberus Capital 47 £400-£450M Paul Tudor Jones Greenwich, Connecticut Tudor Investment Corp. 53 £350-£400M Bruce Kovner New York Caxton Associates 62 £350-£400M Israel Englander New York Millennium Management 58 £300-£350M David Shaw New York D.E. Shaw & Co. 55 £300£350M http://www.traderdaily.com As for Eurex's Paul Rotter aka the flipper, he dropped out of the top 100 having only made £15 million this year