Discussion in 'Educational Resources' started by shootingstar1, Sep 28, 2002.
I think everyone knows about this. Hey, I am not an Ed Moore apologist, although I sound like one, but his stuff does work, and he takes a sincere interest in your ability to learn the material. In fact, I bought his stuff well over a year ago, and he just sent me an e-mail asking how I was doing trading it. Of course, I didn't tell him I also incorporate Gann.
I think people should be more concerned wether or not it is a solid methodology, and not the fact he didn't state some of the trades and results he posted on his website were hypothetical.
There is a lot of crap out there like RS of Houston, Wolfe Wave, etc. that can be purchased from the classifieds at S&C, Futures, Active Trader, etc., but this isn't one of them.
I know this guy has a following. I've never looked at his material and have no idea if it works or not. Before sending any money however, I would read the CFTC order which , stripped of legalese, says he just flat out lied through his teeth when he claimed he traded profitably. His partner "verified" his trading prowess, claiming that Moore frequently had "dozens" of winners in a row. All lies. Not exagerations mind you, total lies. He apparently never traded one contract or one option. It's worth noting he consented tothis finding, paid a $15k fine and had his CTA ticket lifted for 6 months.
With that in mind, I could never trust anything this guy had to say. Maybe his method is killer, but if it's so great, why did he have to invent a track record. At least the RS from HOuston guys traded, they just lost money and claimed they made a pile.
I think it's great the CFTC ferrets out these frauds, but why do they settle for a slap on the wrist? Why not order him to refund the cost to anyone who asks?
Triple A, I hear you buddy. But I was at Ed's house in Reno in June and watched him make several successful trades in a row, but I do hear where you are coming from.
Ok, my defense of Ed Moore is now completed!
I know many others share your feelings that he offers something of significant value. That is one reason I was so surprised by the CFTC thing. I'd really like to hear his side of it.
A jury instruction that makes for part of a powerful closing argument reads (forgive my spelling) 'falsum in uno, falsum in omnibus'. False in one thing, false in many. Seriously, in a court of law you can point to a jury instruction and tell a jury hey if you find this guy to be a liar here you can just assume he is a liar in many things.
I mean what a bunch of ____ this ed moron puts out. Saying you are a trader on your website and not even trading in order to sell a course. I find to this type of behavior to be repugnant.
The only way I would change my mind about his character is for him to prove he was tortured into accepting that finding and that he really did trade and had the records to prove it. or
he should be offering his course for free to show his change of character.
To be honest Tripe A, I would too. I never asked him about it.
Thanks for the Link,you probably saved me a lot of money
The honest truth about any training just depends on if it will work for you. If it is a slightly coherent method that has entry and exit rules with risk management you may work it out and make money.
For me I have found that the more discretionary an method is then less chance of success. A less discretionary method like using a trendline which is much more cut and dry than for example a stochastic, is my best method psychologically.
Many years ago I paid to spend a week with a big sp futures trader. Short story is it a really beautiful method and this guy was an expert using it but it was too discretionary for me and I just couldnt get it to work.
About 3 years ago I got hold of something else that I developed further and I love it so much I probably will never search for another trading method , ever. For my knowledge, ability its just a perfect fit.
Some have the smarts to start from square 1 and develop their own system and trade it ....others search for ideas hoping that one of those will hit paydirt and be your money maker. Unfortunately thats what vendors prey on or cater to, depending on how you look at it.
AAA, I agree CFTC's doing a pretty good job of busting these crooks. But the penalities are a shame. My guess is that if it were their choice, they'd completely shut down every vendor they busted and maybe throw in some jail time every once in a while. At least that's what SHOULD be happening. But probably their enforcement powers are limited to slaponthewrists or they don't have the legal manpower to go for the harsh verdict on every case and are forced to settle. Frankly, I don't know what the reason is.. I was actually thinking of calling up the CFTC Enforcement chief and asking him "what the f is up with these slap on the wrist penalities". All their contact phone #s are on the web site, if you want call them up and let us know AAA.
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