re: Ultimate Trading Contest: Mark Brown vs Spydertrader/Jack Hershey http://www.elitetrader.com/vb/showthread.php?threadid=114638 For those that are impressed with ET mods (eg Magna) protection of Spydertrader/Jack Hershey and the entire SCT myth, we remain truly grateful!! Just a fast cheesy convenient excuse from your SCT pals is all that is needed to avoid accountability. Then, matter of Spydertrader/Hershey documenting claims of successful trading methods goes away! Newbies remain at risk when "Trading Mentors", like SCT preachers are not held accountable to claims! Thank you kind sir and enlightened mod dude for deleting many ET comments in favor of said trading contest, like marketsurfers et al.... All we need is a "Yes or No" from your pals, then matter of trading contest goes away. PS: ET Free Speech sticker goes to Magna!
I can't see why someone wouldn't pick the gauntlet up on that one. Not being derogatory to anyone, but it's only logical that if one has lifted themselves up to the pedestal of offering such prolific threads documenting their trading methids and how viable they are....that if someone offered to fund an account with real money to trade head to head....well, it would only be logical to accept the challenge. Of course, I assume Mark Brown would let SpyderTrader keep any profits as well.... If that's the case, then hell it's playing with the houses money at the very least, but I figure if one were actually confident in their trading methods which they have been touting for years now....well, I figure they'd probably take the challenge. I've only been trading about 2 years, but I tell you right now, if someone wants to challenge me to a trading contest and they are funding my account AND letting me keep any profits...bet your ass I'm taking them up on it. Just my opinion. P.S. Seriously, challenge me to a trading contest- fund my account and let me keep profits. LOL My kinda game. But really though. Do it.
Re: Ultimate Trading Contest: Mark Brown vs Jack Hershey/Spydertrader Upcoming Trading Contest will be great for ET!! http://www.elitetrader.com/vb/showthread.php?threadid=114638 Infamous ET mod nicknamed "Magna" must pass "hypostomus" on a rigorous series of SCT quiz-sessions to be sure he meets ET mod standards to defend Jack Hershey/Spydertrader dogma!!
Thanks for Hershey backtest info! Be careful and avoid the Cult Kool-Aid! <img src="http://img176.imageshack.us/img176/4073/koolaidnf5.gif">
Astronomy used to be bad science, just like SCT is bad technical analysis. It used to be thought that the planets moved in circles around the sun. It used to be thought that price moved in channels. As time went by and observation became keener, people found problems with the idea that planets moved in circles, so it was thought that planets moved on epicycloids that moved on the original, wholistic, circle. As time went by and observation became keener, people realized that price sometimes moves outside a channel, so the FTT, FBO and a whole alphabet soup of explanations of why price would pop out of a channel were invented to patch up the price-moves-in-a-channel theory. As time went by and observation became even keener, people realized that planets moved in elliptical orbits. The circles were out. SCT hasn't yet reached the stage of development where they've even observed that channels aren't up to the job. SCTers might make some progress if they'd look at a price-moves-in-channels-but-those-channels-move paradigm.
Although I have not read this thread in its entirety, judging from the equity curves, why wouldn't you just trade the opposite way that the system suggests? The reverse of either equity curve looks like it would be a pretty substantial return with relatively low drawdowns.