Jack Schwager discusses FundSeeder, a free platform to find undiscovered worldwide trading talent

karoshiman said:
Only noobs think a super trader can turn 10k or 50k into millions in a short period of time (some think, even with less... lol).

If you can generate 50% return p.a. with little volatility you are for sure among the top 1%. However, even with 100k or 200k in capital it doesn't get you very far. You need to have a larger capital base in order to make serious bucks. And if you haven't inherited larger amounts of money, you are dependent on outside capital, be it friends & family (most will have limitations here too) or a platform like fundseeder.
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There were people who turned 10K into millions though.
 
And those who did that and do that always curve fit.There is no curve fit in poker.In trading(if you want ot do it for 40 years),only the curve fited models are viable.
 
Maverick74 said:
Poker is a bad analogy. The runs he had are independent event events unlike poker. Look, here is the guy's story. He started trading in the late 1970's, he was already in his late 20's or early 30's. He traded for over two decades before he made his first run in the late 1990's during the tech boom. Now even I would agree, even with his experience, that market period produced a LOT of lucky winners. However, the internet bubble popped. He did give a lot back. However, his 2nd run came years later during the WORST equity trading market ever (2003 to 2007). Any of us who traded back then knew who how grueling that market was as the VIX approached 8.91. He took 2 to 3 million and ran that to 45 million over a few years. Again, these are independent events, there is no "hot hand".

Why doesn't he keep trading now you ask? The dude is in his 60's!!!! The guy has been at this for over 4 decades. He is sitting on millions. Let the guy enjoy what is left of his life. How many guys do you know in their 60's or 70's that are sitting behind a computer daytrading this market? Come on, be serious. I know very few guys who have even put in more then 10 years before burnout takes hold and these are the successful guys I know. His career is over. He put in 40 years, he had two huge runs and a successful newsletter that by my estimations generated a cool one to two mil a year. Let the guy sip a pina colada on the beach and enjoy himself.
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You sound like you need a pins colada
 
Maverick74 said:
I am looking forward to their next book, "Undiscovered Market Wizards".
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I use FundSeeder to track my performance. Great service and FREE too! I hope one day I'll be profiled in his next book. I'm FAR, FAR, FAR from being a market wizard. Making steady progress but far from being one...
 
trader99 said:
I use FundSeeder to track my performance. Great service and FREE too! I hope one day I'll be profiled in his next book. I'm FAR, FAR, FAR from being a market wizard. Making steady progress but far from being one...
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The performance analytics do look nice. And free is a good price.
 
the main issue with FundSeeder : those traders with no capital will never be found . the best option is combining FundSeeder and other firms such as TopStepTrader for those who don't have access to initial capital
 
Maverick74 said:
And you're welcome...

http://gambling-maths.co.uk/independent-and-dependent-events/

"The mathematics of poker largely involve dependent events, since the number of cards from which to draw decreases every time a card is dealt, meaning that the probability of drawing a certain card from the deck increases for each time that that card is not dealt."

I love ET.
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this argument reminds me Nassim Nicholas Taleb & his point of view on mathematical probability of coin flipping .small unknown variations in the data could have a huge impact.when it comes to mathematics stuff most of ET members are unable to do basic calculations .
 
Maverick74 said:
It's good to hear Jack be really honest about this when asked about funding. He did not act like "everyone wins" and "we'll fund anybody". He said something most here will not want to here, they are looking for the top 1%.
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%%
Good video, Maverick;
he mentioned they may get 100,000 traders[educated guess , most likely] . Quote concerning funding '' a fraction of 1%'' unquote. Fractions again.LOL
 
I'd be interested to see their "leaderboard".
I suspect they will not capture 100,000 traders.
He says they are looking for some part of the top 1%, well Jack, I have not been hiding...
 
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