Discussion in 'Chit Chat' started by lbcando, Oct 1, 2007.
Sounds like Oscar.
Anyone who KNOWS anything about trading would agree with you, maharaishi. Wannabees think differently. To wit:
Yeah you are right. The path to riches in the market is to pay some guy 6K or 7K to teach you his amazing "method". Anyone who knows anything about trading knows no one sells a winning system. Failures think differently.
What the heck is a "gratitude" book? And how does this help in trading? Just curious.
In any case, thanks ibcando, maharishi, richsan and others who came forward. Especially ibcando for starting this thread. I was curious and visited the free trial, it was confusing as to what was a trade and what was anything although I thought maybe it was just confusing since I was in and out of the room. He seemed to ignore the pointed questions and if anyone persisted he booted them, so it seemed. I PM'd some of the members and it seems those that I spoke with were still trying to figure it out. Well, I guess according to you members there's nothing to figure out because there is, well, nothing?
Wow, 7G's for nothing, and he's getting away with it? Amazing.
How about selling a winning system for $100K. Would that make it credible?
What part of, "If it is a winning system, no one would sell it", don't you understand? If a system is truly a winning one, than the person who owns it could make much more from the market than selling it to the public. If this system can make between 4-10K a day, why sell it for anything? Makes no sense.
If TZ's numbers are true (which is a stretch) then they are destroying just about every CTA out there ( check futures magazine this month--its free). With that kind of return ( proved and audited of course) they would have millions of dollars to manage. With that potential there, why sell it for anything?
The answer-- to become a CTA you must prove your results. So if they cant prove what they are showing then it makes sense to sell it.
You can teach the best method in the world to a trader for free and he can still lose money for reasons that you, a seasoned pro, already know. Learning how to trade is easy; the tough part is actually doing it without emotion, but with consistency and discipline every day, day in and day out.
One doesn't need to be a CTA to manage money (I'm not talking about a hedge fund) within certain parameters.
Regardless, we're getting off topic. This is not a TZ or philosophy thread.
This isn't TZ specific. Any vendor that is willing to let you buy their "Secrets" all fall into the same theory. If it really worked you wouldn't sell it. You cant prove that it works to attract CTA kind of money, so you sell it to the unsuspecting public.
I disagree. There are exceptions to every rule.
Becoming a CTA and managing tens of millions of dollars may not be everyone's dream job. It's a tremendous burden and maybe the edge you employ isn't effective trying to put such a large amount of money to work. It wouldn't be long before the market could read your moves, stops etc.
Is it wrong for someone to be happy making a very good living trading for himself and teaching others? A million+ a year is decent income wouldn't you say?
That is an unfounded statement. Even if someone has something that works, you cannot just assume he would never sell it to the public:
-- There are people who like to teach. Otherwise, no engineer would ever teach at a university. He would just go into industry and make a lot more $$$
-- Some people like to design systems, but are not interested in trading or may not have the stomach for trading. Someone can have an outperforming system, but not understand money management, etc.
-- Not everyone wants to put the throttle down all the way to become rich. They may not like the Risk of Ruin that is inevitable for most traders sometime in their career. Many people just want to keep their account sizes constant, and make a living from it.
-- Even for people who make good money from their system, providing signals for profit is a nice diversification in case of the inevitable drawdowns.
-- Revenue from a system has little risk, unlike the trading capital exposed by leveraged investments like S&P futures
If someone makes $300,000 a year trading, and $200,000 a year from a working system, tell me why they would never sell signals?
That being said, there are still few systems that work.
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