I have noted on several threads my annoyance at the way the CFTC lets these crooks off with a small fine. I hereby propose that in the future the agency impose no fine but instead require these guys to fund a model account and trade their "method" with real money for a period of one year. Since they are all such super market wizards you would think they would leap at the idea. I'm guessing guys like Moore and the infamous RS from Houston would rather pay a fine.
i am taking the ed moore free trial right now for research. here is what im getting: 1.he posts after the fact charts 3 times a day showing where he would have traded. i asked him why he doesnt send out emails with real time trades. he said something like you couldnt afford to have me show you my trades. im here to teach you. i guess that means you have to buy the course. 2. he teaching trading OEX options. i have been seeing 50-90 cent spreads in the options he trades. since his system doesnt seem to allow for the bid\ask spread there can be a huge difference in the outcomes of the trades. 3. i asked him point blank if he is personaly making these trades. he wouldnt give me a straight answer but my take on his answer is no he doesnt make the trades. my take so far is that its an interesting system that would be almost impossible to trade profitably with the spreads that you are working with unless you could get in between the spread and i dont think its possible to play the spread with oex options.
No, when did I say that? I took it about a year ago. I was trying to make a point, if you are going to bash someone, make sure you know what the Hell you are talking about. In other words just don't pile on for sake of piling on (like the Murrey Math thread). I am very aware of Ed and his "trading abilites", and I would avoid.
answers witnessed first hand: 1. It is a complete joke. I sat right next to him when he was doing his charts. 2. Exactly, and most people don't realize this. He says "480 calls went from $.....to $......", but that is nailing it top to bottom. A complete joke. 3. He did some phantom trades when I was with him. Didn't fool me, but fooled the guy that was out there with me (another student I had never met). In fact, after this guy and I left Ed's house, we kind of argued .....actually we were screaming at each other because I was calling "bullshit" on the whole thing.
as matter of fact, after lost me 12k, that broker was trying to sell me Ed's system, I guess 'integrity' is foreign concept to them.
I don't really know much about the Ed Moore material, but looked at his web page 3 years ago and saw all these insane claims about IF you had pyramidded a position in the OEX that you would have made xyz dollars....Of course, its just IF only I had done this....kind of nonsense... He did admit to the Feds that he did not make those trades and that should be enough evidence that his hypothetical trading is not all that its portrayed to be... Regarding the OEX...At one time the OEX was the options market...Prior to all of the volume moving into individual equity options and the ETF's, the E-mini;s, etc...Once they halved the full S&P contract in 1997 and then introduced the E-mini, the OEX steadily lost more and more volume...Then the market just became thinner and thinner...I still do some OEX trading, but the spreads and the inability to fill sometimes for hours at a time...Also knowing that you might be the only trader to have traded a certain strike for hours at a time is not a real comfortable feeling... If Ed is not accounting for the spreads, then that says it all...The biggest obstacle to the OEX is simply the execution itself...
Crook Ed also belongs to the Gann family of marginal Tradersworld magazine. Gann invented the only profitable and forecastable strategy in the markets : sell newsletters/trainings. Many years later, we see herd still paying for it. It won't change. People need help. Help of reducing their wallets.