Don't feel sorry. We were up over 70% when I was there, I had nothing to do with the trading. The perspective traders were funded with 10k to prove their ability, all but one failed Surf
We actually agree on something. Anyone that PM's you regarding teaching you anything, immediately tell the Moderators and put the person on ignore. You just made my point in my previous statement though. Your "friends" are the only experts on TA even though they are only marginally successful. "No one else could never accomplish what they did. Everyone on this board is an idiot and could ever be as smart as the people I know." You've probably never met a successful TA person because once they know you exist they don't want to meet you.
Bottom line is I know several of the top guys in the world in this business. I really don't care what you believe. Let me ask you this, why doesn't Bright Trading or the other top prop firms teach TA as a primary trading method? They may mention it and use it as illustrative but it's rarely used to make actual trade decisions. WHY?? However, FX dealers who PROFIT from your losses have extensive TA education departments, provide free tools, charts, etc. ??? Seriously, how could things be any more obvious? By the way, I would love to interview a TA person who got wealthy strictly by TA. Been looking for 10 years.
What's wrong with guessing? That's what you seem to be using in your journal, so... oh, nevermind.... And astrology? If it was good for Nancy Reagen affecting national policy, it is good for me.... Faith healers? Have you heard of placebo effect? Wasn't Jesus also a faith healer? All sounds real to me.... You heard of PTJ, call him up....
That fund was up 70% for the year, since inception or....? 10k? They wasted their time dealing with 10k? They must've been really desperate for any kind of job.
For the year. It was a FOF product and several of the funds knocked it out of the park. The CIO thought it was worthwhile to start a in house trading operation along with the FOF at the time--- hence trying to weed out the phonys from the real traders. Out of 100 plus with verified records only one succeeded.
I talked to Bright in Vegas last year. I was not impressed in the least. They have no research people. Nothing cutting edge, with all of the new technology out there they might as well be trading on P III's. I asked them about cloud computing and the guy looked me like I was smoking pot. I would call their style of trading as "Spaghetti Trading". Throw the FA on the wall and see what sticks. Are they successful? Marginally. Are their days numbered, absolutely. There is no comparison between the slimy FOREX dealers and actually successful TA Traders. I suppose all car dealers are slimy because they sell used cars too, huh? Gotta watch out for slimy used car salesmen, right? In regards to your interviewing a successful TA trader, see my previous post regarding them wanting to meet you. That being said, I know someone that has an ego almost as big as yours that might want to talk to you. I'll ask him.
Technical Analisis and Indicators punted on web sites will not make any one person a consistently profitable trader. As someone mentioned earlier the traders making consistent money actually have learnt to love the scammers who herd the sheep in certain directions with their indicators, and the smart guys are capitalising on that by working out their own tools. I dont use indicators that you will find on web sites, but all of you that do please please continue.
This explains a lot, and I don't mean that to be mean but moreso for my own perspective on your posts going fwd with regards to actual trading.
Too many people focus on probability and not the payout. If I am getting 2:1 odds for my money with 40% chance of winning, I am taking that bet every day.