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

Maverick74 said:
Mathematically, here is how I view luck. Luck is a one off event. Meeting the right girl, bumping into somebody and getting an interview, selling your house at the market top. I define luck as something that is not repeatable. In the case of Zanger, he took 15k to 12 million or whatever it was. He then lost a lot of it back down to 2 or 3 million. But then the guy did it again and ran that 3 million to 45 million. I can't remember the exact numbers, but the 2nd run was more impressive then the first being the dude had really money at stake from the lows. Again, luck is not repeatable in most statistical applications. In fact, with empirical science we generally validate authenticity by the ability to duplicate results. Is it conceivable he got that lucky twice? Sure, after all there are people who win the lottery more then once. However, Zanger unlike a lottery winner is not randomly picking stocks. He earned his second run doing exactly what he did the first time. In my world, his results are validated.
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I agree;
except i hate the word luck -so i call that a small sample.

And '' the'' top of the real estate market is so small ;
i may ask the REALTOR what to call that-LOL.....
 
realstockaddict said:
how would they base your statistics if you trade with leverage?
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They give you an option to report your results using "NLV" :
The NLV is the Net Liquidation Value of the account--i.e., the cash value of the account if all open positions liquidated at their settlement values.​
Or "Constant NAS":
The NAS is the Nominal Account Size as defined by the trader as the base to be used for calculating returns instead of the NLV. The NAS may be preferable to the NLV for calculating returns for traders using substantial margin (e.g., FX, futures). For these traders, using the NLV to define the account size will overstate both returns and risk. The NAS is subject to the restriction that it must be larger than the NLV. If on any day the NAS is lower than NLV, then the NLV will be used for the return calculation. The trader can always manually redefine the NAS at any time to be effective for future returns only (with change implemented with 2-day lag).​
but , "Substantial Margin" is subjective I guess, what is substantial?
I personally use "NLV", but they do provide that option, FYI
 
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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Another alternative, take 1k and go to roulette , bet all of it in red or black, if you win, bet all the money (2k) in red or black again, if you are lucky and win for consecutive 10 times, congratulations., you are millionaire.

This is more fun and faster than aiming 50% return per annual.
 
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