Ed Seykota is trend trading and making a fortune. Steve Cohen is a great trader and never used inside information. Please prove me wrong* on either or both of the above assertions. If you can prove me wrong on the second one, you'll make some money from the US Justice dept. *I refer you once more to the title of this thread.
I noticed that the reply he gave me in a PM was similar to something I've read before...but only twigged today that it was from Anton's video lecture.
Cry me a river. Any endeavor that has potential big upside with consequences like losing your bankroll, easy public participation, and requires hard won advanced skills - including psychological, will have a high churn rate. Consistently profitable traders will tell you it took them 5-10 years to hit their stride. Few have the drive required to endure the learning curve which always takes a lot longer & eats more in market tuition than most ever could have imagined. Only 8% of those that make new years resolutions ever achieve them and the attention span of people these days is less that of a goldfish, which should explain the high churn of would be traders. 90% of fund mgrs from ivy leauge schools fail to beat the benchmark S&P 500 and the analysts have a track record on par with a broken clock. It's not just retail that sucks!
As a watcher I intended to finally post,but I have changed my mind.I'll just say that I enjoy reading clever verbal jousting.
I asked him to PM me the name of the firm that he had worked at, instead he made some excuses up and accused me of trying to unmask his identity and then just copied and pasted some guff about trading. Basically wasted my time and so i 'stabbed him in the back!"