You have GOT to be kidding me! Have you looked at what that guy is "teaching"? He couldn't trade his way out of a paper bag and what he's doing to people - fleecing them of $1297 for something that is freely available on the Net - is very unethical. He tells his students nothing about such elementary things as support/resistance levels, setting stops or profit targets (and certainly not something as "complex" as a trailing stop!). No mention of money/risk management. There's NOTHING there, folks ... except watching two overbought/oversold indicators that lag too much most of the time to be of use. What he is really selling - this should sound familiar - is HOPE. I'm a former student - yeah, I was fleeced! - and, just out of morbid curiousity, was on his call this morning. He actually said, "The less you know, the better." NO, REALLY! He also was crowing about the wonderful short he entered on which he got a point on a portion of his contracts and more on the rest. BUT: there was NOTHING in what he teaches that gave him a short signal. His stochastics never reached the "80" line and then came back. Thus, no trade. So, just what told him to get in short? Is that in the super-secret $3000 advanced class? Good grief! And check with Charise sometime and ask her if ANY of her "trades" are live.
i have to say, the disappointing thing on this forum is that almost all of the lists presented have 100% people who lost more money than they made in the markets. Here are the traders who I think one can learn the most from: - Renaissance Technologies' Jim Simons - true, his techniques are somewhat secretive but his general quantitative approach to the markets is well-known. - Warren Buffett- most people think he is a long-term investor but its simply not true. At the risk of being self-promotional, my book "Trade Like Warren Buffett" details this. To avoid accusations of being self-promotional, the first five people who drop me a message I'll send the book to. Guaranteeing I lose money on this transaction. - Stevie Cohen. There was an excellent article in BusinessWeek in 2004 detailing his approach. - George Soros - numerous books have come out about his macro approach to the markets. - Courtney Culkin. Perhaps the best of all. Playboy's Miss April 2005. she's up close to 40% this year. Here's her portfolio along with a few other playmates: http://stockpickr.com/port/PLAYBOY-2006/ Again, I don't mean to be self promotional but you can follow all of the exploits of these super-investors (including Miss Culkin) on a site I've been beta-launching: stockpickr.com. Regardless of what you think of my particular list though the one thing that stands out is that all 5 (or the first 4) have taken sigificant money out of the markets.
In this thread we are comparing successful solitary traders to succesful traders who also built a trading organization. Does it make sense? Still, I would like to add to the list of traders to be studied Mark Kingdon. (Kingdon Capital) Low profile, no website but manages many 'yards' and he is one of the recipients of the Institutional Investor Lifetime Achievement Award. And I do have respect for Larry Williams who in a public competition ran a 10K retail futures account in one year into 1million.
Has everybody forgotten the late Great Wolfgang Fockdensshteiner?? I took a one week trading course and when we graduated they gave the top five students an autographed picture of Wolfgang as a kind of prize. They told us to never show it to anyone in the business as it is a most coveted piece of work. I am showing you an unsigned copy so you boys know what a real trader looks like!!!
Kroll Does anyone know if Mr. Kroll had anything to say about Wilderââ¬â¢s Parabolic? I heard an unverified rumor that he may have used Parabolic to get out of one of his multi year, roll over, futures positions. Anyone care to speculate? ââ¬ÅIt is better to have a mediocre system and good money management than an excellent system and poor money management.ââ¬Â --futures trader Stanley Kroll