Anyone knows about John Richardson?

[Saltynuts]

Haha I just listened to a podcast on this guy the other day. He compared his roughly 5% monthly return system with "risky" ones that might earn much more - when he said his annual returns were 50 to 60 percent he said it so nonchelantely like it was no big deal. 50% a year, pretty much risk free. Yea, right.

 

[MKTrader]

Haha I just listened to a podcast on this guy the other day. He compared his roughly 5% monthly return system with "risky" ones that might earn much more - when he said his annual returns were 50 to 60 percent he said it so nonchelantely like it was no big deal. 50% a year, pretty much risk free. Yea, right.

Yeah, don't bother with his course. He's a nice guy and I wanted it to work. But it's not truly objective (he has 2 or 3 variations and it depends on estimated S/R levels). I tried to make it mechanical and had several profitable months paper trading. Then I had one or two 5% winners before losing 10% when the market kept whipsawing. The adjustments (one-way bets on market direction) add up when you're wrong.

With that said, it might be profitable overall, but I'm not sure if it beats buy-and-hold. And it's much more nerve-wracking and time-consuming. Also, his record-keeping is purely hypothetical.

And to your point, if he has really been making 50-60% for over 10 years, he's be worth a ton by now. Seems like he'd only trade his own account or OPM instead of selling courses on options trading and land investing (that's what I saw last time I checked his site).