Charlie Wright Needs HELP!

His information characterizes the strategies as "high risk". What part of that didn't you read?

I don't have an opinion on Mr. Wright, but I do think folks need to understand what they are getting into when they invest with a fund manager. People who invested in his fund should have known that this was one of the outcomes they might expect.


Lefty
 
per mr. wrights web page:

"The last year has been a difficult time for the managed futures industry and Global Strategies has been no exception. Just when a big move starts to develop it abruptly ends. This has happened throughout the last year, and April continued this pattern. The bright spot for traders in the last few months has been long positions in the Metals and Energies. This month they both reversed. The big losing sector this month was the Energies, which comprised the large part of our losses. The 5 markets that we trade lost an average of a little over 1% per market. This was followed by losses across the board in Metals. Our long positions in Stock Indices were also for the most part losers. The bright spot was Interest Rates and Currencies, but the gains in these sectors were not enough to offset the losses in the Metals and Energies. This drawdown has now lasted longer than the average drawdown and it is due to end soon."
 
Quote from hank rollins:

This drawdown has now lasted longer than the average drawdown and it is due to end soon."
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How does he know that for sure? :D
 
Quote from hank rollins:

all trend funds are currently getting HAMMERED as the methodology begins to unravel......
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You're certainly not one to miss an opportunity to get a jab in, are you? And how are the neo Gann funds doing these days?
 
I don't know the man. What interests me is that people don't use common sense.

I refer everyone to a chart of the S&P. Pull up a chart that shows weekly bars. Look at last year. Then look at this year to date. So I don't "get it".

I understand the idea that you warn everyone that your strategies are high risk. Thats fine. Obviously there are folks who are willing to "bet" (and I use the words bet for a reason) that the price action we saw all of last year and this year to date will stop (suddenly) and markets will start to trend. What mystifies me is the attitude of surprise.

This has nothing to do with the concept of trend. It has to do with professional competence. For investors it has to do with a lack of common sense. You pull up the charts, you see how it is going THEN you choose a method of trading, or you invest with a fund that uses a method that works in this market. You stay with that until the market proves you wrong.

I have done this for a little over 10 years. For the last few years, I have been trading using two charts, one with 15 min bars and one with 5 min bars. I'd like to make more money. But then I read some of these "current events" posts and I go home happy. I feel sorry for Mr. Wright. I hope he finds a remedy for his problems. If I remember, Mr. Rollins record is public record so we don't need to go there either. You just have to wonder why folks don't adapt while they still have some money to work with.

Lefty.
 
Quote from Thunderdog:

You're certainly not one to miss an opportunity to get a jab in, are you?
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just stating facts, dog. charlie has a great tutorial on this site. i don't know him and my comments are not personal in anyway. why do you take them as such?
 
Quote from Lefty62151:

I don't know the man. What interests me is that people don't use common sense.

I refer everyone to a chart of the S&P. Pull up a chart that shows weekly bars. Look at last year. Then look at this year to date. So I don't "get it".

I understand the idea that you warn everyone that your strategies are high risk. Thats fine. Obviously there are folks who are willing to "bet" (and I use the words bet for a reason) that the price action we saw all of last year and this year to date will stop (suddenly) and markets will start to trend. What mystifies me is the attitude of surprise.

It has to do with professional competence. For investors it has to do with a lack of common sense. You pull up the charts, you see how it is going THEN you choose a method of trading, or you invest with a fund that uses a method that works in this market. You stay with that until the market proves you wrong.



Lefty.
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i wholeheartily agree, mr. lefty--on about 90% of your comment above. you know where we differ, so i will not go there. one must be flexible and ready to change at a seconds notice. unfortunately, many of the trend fund, are simply too big for this manuver and are paying the price.

hank
 
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