Discussion in 'Trading' started by nkhoi, Mar 27, 2002.
Yannis, how it going with TCI method?
The TCI method/systems seem to be doing fine, although the first quesrter this year was a bit tumultuous, to say the least. I trade their STS S&P system, which closed March with 89 pts per trading unit (two contract combination, one used to lock in a quick profit and the second one left to ride the market) after making 115 pts in February and losing 44 pts in January. Of course, commissions and slippage has to be subtracted from those numbers.
To give you a more real picture of what's happening, my STS account, conservatively funded to about 3 times margin, has grown about 8% since Jan 1, 2002.
Not too bad in this schitzo market that has not been kind to swing traders, imo, but lagging somewhat last year's performance at this point. Oh well, it is just one of the systems I trade, it'll do better later in the spring and I still love it...
Thank for feed back, now I can recomm it to somebody who already has realtick data feed. One more question, do you have to take all the trades and were those trades auto executed by software for you.
I try to trade all trades, because, in trend-following systems, if I ever start skipping trades, they are invariably the best ones.
I trade the system myself, and I also have an account with a broker who trades it for me, manually. We do about the same.
Any other questions that you or your friend have, please don't hesitate.
FTC Sues Day Trading Seminar Promoter Over Deceptive Ad Claims
I know there are a lot of former TCI students floating around out there. Many former TCI students are big time traders/fund managers too as TCI was able to hype their methods to some of the trading elite, not just your average trader looking for an edge.
I'm sure there has to be a few former TCI students floating around ET...
I remember advertising claims of 18% per day, then a direct mail brochure claiming 12% per day, then a magazine ad claiming 14% per day. They make so much money with their system they can't keep the number straight!
From that link:
Based on financial statements provided by the defendants, they will not be required to pay consumer redress.
I wonder what that means? I know TCI made a ton of money in early and mid '90s. Don't know how many years of statements that had to provide and how they fudged them. But they were raking in the $$ from what I hear.... FTC should make them refund to any customer who demands it and send notice to all addresses on file!
Good info, thanks for finding that, nkhoi.
Yes, I knew of that case and I was actually one of the witnesses at it.
Over the past 3 years or so, cases were brought against many firms in the trading industry, and 99% of them were setlled before they were actually brought to court. Initially Tim Cho chose to fight it, believing he was totally innocent, but finally chose to follow the established path and settle.
The main complaint has been that some of their advertising claims were out of proportion. Of course, back then, everybody was doing it. For TCI, my understanding is that the complaint focused on advertisements posted in 1998 and 1999. Since I took their training in June of 2000, I never saw those ads.
What I know from direct experience is that I am happy with what I learned from them and have profited greatly from their methods. I like Tim a lot, he's a fantastic trader and a good man.
And, yes, btw, it takes a "special" person to believe blatant advertising claims like those mentioned in the complaint, not to mention those skin creams that will make someone be "forever young."
From your knowledge, did Tim really make lots of money himself by trading?
I heard lots of guys similar to Tim that offering systems/training that finally being sued by their clients. If I could make lots of money by trading, I won't bother to get involve with people.
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