And trdrmac...the answer to your question is so obvious. The Pin Prick System is so good that the number of winning days INCREASED from 93% to 97% just in the time it took to create the ad for ebay. Now THATS what I call good performance! Thanks, I just spit coffee on my keyboard from laughing.
It reminds me of the slick looking guy on the infomercials ~ 5 years ago that always showed pictures of his wife and him w/ "their" Rolls, yacht, plane, ... I think he was selling a real estate system, probably still in prison Don't understand how people sleep at night screwing the naive.
If you do a search for "Pinpoint Day" on eBay you'll notice he has four separate Pinpoint auctions listed. Two of them acknowledge Wade Cook and Ken Roberts. We all know Cook has been indicted by the FTC and Ken Roberts is surely not a saint (http://www.turtletrader.com/forbes.html). If he has the audacity to use shunned traders to promote his product you best look somewhere else. That alone indicates to me that he is not the brightest individual.
"Want to make a killing trading futures? All you need to know, says Bernstein, is that many seasonal price patterns occur year after year. Buy live hog futures on Oct. 30 and sell on Nov. 27. That's a trade that would have made you money almost every year in recent decades, he claims. Bet on the S&P 500 March contract to rise from Jan. 12 through Jan. 18. For 15 years, he says, this trade was a winner 93% of the time." Forbes - above link That's where this individual gets his "93% winning trades"
His web page is www.pinpointfutures.com. Talked to a guy who is paying for pinpoints room, he doesn't think it's worth it. He said that the results aren't as good as advertised, specifically his live calls. He did say when he was trialing it that the morning report was right 6 out of 10 days w/ 1 day being a loser and 3 days being no trade days because entry points weren't hit.
I liked this quote from the article even better... "Commodity Traders Consumer Report, a respected futures publication, tracks the trades Bernstein recommends in his $895 flagship newsletter. If you had acted on these weekly tips from 1988 through 1992, you would have lost money for five consecutive years" Where do I sign up?
Looks like typical, uncreative huckster jive to me. I'll give him one credit point though...he tacks the word "MetaStock" onto the end of his ebay headline. That's how I stumbled across him....doing an ebay search on MetaStock.
That's pretty funny that he would use Metastock. The page I hit had Wade Cook at the top, and someone mentioned Ken Roberts. Sort of the ultimate scamers scam, using vendors names to trigger web hits to sell your own product.
Since you guys are tearing apart his EBAY auction how about his disclaimer at the end....... HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION, HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR TO ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. MARKET TECHNOLOGIES CORPORATION HAS HAD LITTLE OR NO EXPERIENCE IN TRADING ACTUAL ACCOUNTS FOR ITSELF OR FOR CUSTOMERS. BECAUSE THERE ARE NOT ACTUAL TRADING RESULTS TO COMPARE TO THE HYPOTHETICAL PERFORMANCE RESULTS, CUSTOMERS SHOULD BE PARTICULARLY WARY OF PLACING UNDUE RELIANCE ON THESE HYPOTHETICAL PERFORMANCE RESULTS. I bolded a line you should pay attention to.... If you are right 93% of the time and can buy a Jag with your results how come you have never traded ???
As long as we're playing gumshoe, check out the group that hosts his website. http://studentweb.seaed.com/pinpointfutures/oursevices.asp SEA is a private teaching company that helps students get various computer certifications (MSCE, etc). The studentweb part of the SEA site is for students to put up their own webpages. So the guy is a student in this technical program, and he's scamming suckers on eBay $100 a whack to help offset his tuition. Meanwhile, SEA hosts his website where he milks people another $100 to $300 per month for his trading calls. No doubt this "value added service" is for people who bought his Jaguar earning system on ebay, but they just need a little help getting started. Hell, why bother with your MSCE when you can bring in an easy $5k per month, tax free no doubt, from desperate and foolish ebay shoppers.