Isn't the point of trading to make your own decisions, otherwise why not let some half ass mutual fund manager lose it slowly over time. I don't get paying someone else for their lotto numbers?
Agree. Honestly, IF I was going to mentor newbies it would not be in something like the dow or russell futures. They seem to be way over crowded with tiny retail accounts shooting at each other. Newbies should not be in the most volatile contracts. Something more like the SP's or 10 yrs would make more sense.
Any evidence this brilliant marketing move was not in a simulator? I heard colors of platform but that's easily changed.... Any evidence?
While Arb guys should not even be mentioned in the same paragraph as a blowout trader like Hoffman, they too can get caught bad and have a big part of their account wiped out at some point. I know some very sharp arb/traders who have gotten wiped out/lost most their yrs profit in days. It doesn't often, but it does happen. The ones who survive recognize shit is hitting the fan quicker than the guys who completely implode. Just look back to summer of 08.............
Maybe he is, but at this point isn't it a moot point? He, as the consummate professional trader, made that trade and claims it was real. So either: 1) he's a good scam artist, a bad trader, and his credulous followers lost quite a bit of money or 2) he's a poor scam artist, a bad trader, and his credulous followers lost quite a bit of money.
This whole thing sadly reminds me of 1982: http://en.wikipedia.org/wiki/1982_Thunderbirds_Indian_Springs_Diamond_Crash Mechanical failure or not, the leader flew the entire team into the ground.