Market charlatans

[dealmaker]

Quote from jack hershey:

I hope everyone believes you.

I mentor for free locally.

My goal is to "take".

The capital I take out of Wall Street goes to Main Street to help solve local problems.

Why can't the your top tier people do this? They can't afford to.

Now give some thought to violin inventors and piano inventors.

Then think about the folks who wrote the music.

Do you know how minds are built?

Purposeful practice in a specific filed. There is no chance you could mentor anyone simply because you could not tell them what and why to practice anything.

Dealmaking is the bullshit of the FI.

My post addresses those who generate income from teaching not those who do it as community service. Top pros don't teach for the same reason soloist does not i.e. by charitable donations ( soloist by creating music) they reach much broader audience than teaching 10, 100 or even 1000 guys how to trade 10 hours a week.
As for dealmaking comment, HAHAHA!

 

[jack hershey]

Quote from dealmaker:

My post addresses those who generate income from teaching not those who do it as community service. Top pros don't teach for the same reason soloist does not i.e. by charitable donations ( soloist by creating music) they reach much broader audience than teaching 10, 100 or even 1000 guys how to trade 10 hours a week.
As for dealmaking comment, HAHAHA!

The choice of teaching or trading to make money while mentoring is very humorous. You should watch for a week or so.

Try to get out of the either or orientation.

 

[TheMagican]

Quote from jack hershey:

The choice of teaching or trading to make money while mentoring is very humorous. You should watch for a week or so.

Try to get out of the either or orientation.

Jack,are you a sharksucker?

 

[billyjoerob]

Teresa Lo, is she a market charlatan? She used to run a firm called smarterstops, but now it's called wealthcop. She seemed to go far on "hot asian trader chick" appeal.

 

[jem]

I believe there is a difference between trader, investor, and person who trades off inside information.

I suspect many of the big hedgefunds get deals that the the Wallstreet banks can't keep on their own books.

For instance Paulson getting to short tranches of crap as anyone with a property in Florida already knew prices had dropped significantly.

That is not trading. That is Banking in the 21st century.
That deal was so smelly you would guess that the managers of the losing fund probably used that deal to transfer some of their clients wealth to paulsons fund in exchange for some of Paulsons fund.

Quote from dealmaker:

Using the same analogy to traders as was used analyzing classical musicians in the book "Outliers" by Malcolm Gladwell i.e.

top tier musicians - soloist

2nd tier musicians - symphony orchestra members

3rd tier musicians - music teachers

thus if we use the same analogy to traders

top tier traders - hedge fund partners, bank prop desks and CTAs

2nd tier traders - trading own and perhaps friends & family money

3rd tier traders - teaching noobs to supplement trading income

Imagine if you went to David Tepper or any other top trader and asked him/them to teach noobs for a small fee, I have no doubt
he will kick you out of his office quicker than you can say David.

 

[dealmaker]

Quote from jem:

I believe there is a difference between trader, investor, and person who trades off inside information.

I suspect many of the big hedgefunds get deals that the the Wallstreet banks can't keep on their own books.

For instance Paulson getting to short tranches of crap as anyone with a property in Florida already knew prices had dropped significantly.

That is not trading. That is Banking in the 21st century.
That deal was so smelly you would guess that the managers of the losing fund probably used that deal to transfer some of their clients wealth to paulsons fund in exchange for some of Paulsons fund.

Paulson's housing market short was the greatest trade, he had shorted the housing market long before it was obvious to everyone else including alot of institutional firms. By the way he was not the only one who had done it but he was the biggest short eg Dr Michael Burry had to hold his short 3 years before it paid off. Also if it was so obvious why did some institutions took the other side of that particular trade?

 

[jsengxx]

Quote from Ol' Yella:

LOL that's her --- she's worse than a used car salesman..... at least they sell you something that works

Don't know how any one can defend her, unless they are vendors themselves.

But she's not alone.....

Check out this thread
http://www.bigmiketrading.com/forex...ur-usd-futures-contract-trading-strategy.html

Now the same CJ Booth clown has started a service:
http://www.tradeeurofx.com/
http://www.bigmiketrading.com/vendors-product-reviews/26466-tradeeurofx-com-charles-booth.html
(he won a BMT contest and he looks nothing like the guy on his webpage - LOL)

He was already a scammer anyway because once he got enough people interested in his BMT thread, he started selling indicators right there in the forum. And Mike, the guy who's so tough on vendors, didn't ban him for it!

No one became profitable with his method in the forum, and he disappeared. The one guy Bobby who claimed to be doing ok with it, ended up blowing out an account and then said he came up with a better version of it that he was going to try and sell.

And just to prove what a joke this is--- check this out

http://www.bigmiketrading.com/forex...sd-futures-contract-trading-strategy-104.html

Using the trade results he gave for his 6E scalping method...
a 77% win rate with a profit factor of 7
avg win: 18.9 --- avg loss: 9.5

BULLSH*T !!

Hello,

I have read the hole thread from cj booth and I think it is al based on technical analysis, it is a good strategy so I think it is stupid just to see what poeple are writhing here!

Why not stop talking about what other people do and begin to write somting interesting like a good strategy for making money?

 

[NoDoji]

Quote from jsengxx:

I have read the hole thread from cj booth and I think it is al based on technical analysis, it is a good strategy

I looked briefly at some of it and it looks solid as rock to me.

90% of people will lose money with excellent strategies, so I wouldn't use "student" results as a guide to whether a trading strategy is profitable or not.

 

[small_beer]

Quote from jsengxx:

Hello,

I have read the hole thread from cj booth and I think it is al based on technical analysis, it is a good strategy so I think it is stupid just to see what poeple are writhing here!

It's very nice of you to come here all the way from Big Mike's Trading forum to tell us how stupid and unappreciative we are of this work.

Enjoy the freedom of speech you are not accustomed to on that forum for losers and morons. Calling someone stupid there would get you banned in no time especially if you aimed it at Fat Tails (Harold Steinhaus) whose "legendary reputation" would never recover from it.

 

[small_beer]

Quote from jsengxx:

Hello,

Why not stop talking about what other people do and begin to write somting interesting like a good strategy for making money?

We do this all the time. It's just that if something really works you don't post it on a trading forum for everyone else to use. Didn't Big Mike or Fat Tails tell you that?