Technical Analysis Doesn't Work

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Past comments about Prof Illogic (thread attached at bottom)

downtickboy: I just wanted to see if anyone has used Proflogic's trading method and having some success with it trading it in real time. I have seen a few posts of his and he seems to know what he is talking about but the results page on his website looks rather unrealistic.

Duey Decimal: seems to be a moving target. I spoke to someone that "trained" with him (ProfLogic) for HOURS over personal telephone sessions. (I will say this -- he seems to be very generous with his time. He does not charge extra for the sessions over the $300 that he charges to join his room.) According to the person I spoke to, he was constantly changing his methods. Switching to this chart and then to that. He seems to have moved from trading off a 777-tick chart to trading almost exclusively off a 98-tick chart, or something like that. It's not only the chart frequency that he changed; he's changed the whole methodolgy numerous times. From what this person tells me, he followed along in the new "chat room" for a while, and it seemed to him that no one there was actually making money, with the exception of one trader, who seemed to constantly post winning trades (I don't recall his moniker), and when this person PM'd him, the guy told him that yes he's making good money, but he's not using ProfLogic's method at all. Then he says that he wants to form his own group (one charletan to another??).

http://elitetrader.com/vb/showthread.php?s=&threadid=49269&highlight=proflogic



 
he built a following among the non-market savvy in out of the way type towns. just like the "traveling medicine shows" of yore.

no disrespect meant, its a good business and im sure these people are better off trading after learning from p.logic than before--- as they knew nothing previously.

if he would just cut out the bogus claims and statements, he would be an ok guy. he just can't compete with those on elite who actually understand the markets and the deceptions involved.



surf
 
T/A works well with very defined rules imo. I have made money month after month for years now only using two basic indicators from what I was taught by AMT. It can be done if the rules are precisely defined and always followed.
 
Quote from TradEStar:

T/A works well with very defined rules imo. I have made money month after month for years now only using two basic indicators from what I was taught by AMT. It can be done if the rules are precisely defined and always followed.
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what is AMT?
 
From ProfLogic 05-16-05 12:50 PM:

ProfLogic to someone else:
...
I challenged you to a realtime example of what I do and you pound your chest and and change the subject. How can a realtime example be a fraud . . . scared I'll embarrass you?

(from this thread) http://elitetrader.com/vb/showthrea...69&perpage=6&highlight=proflogic&pagenumber=8
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GREAT!!!! I ACCEPT YOUR CHALLENGE!!!!!!!

I challenged YOU to a realtime example of what you do, and you pound your chest and change the subject (only if $80,000 is put up).

Scared I'll embarrass you?
 
Quote from rcanfiel:

GREAT!!!! I ACCEPT YOUR CHALLENGE!!!!!!!

I challenged YOU to a realtime example of what you do, and you pound your chest and change the subject (only if $80,000 is put up).

Scared I'll embarrass you?
More...

http://elitetrader.com/vb/showthrea...69&perpage=6&highlight=proflogic&pagenumber=8

wow, thanks for posting that link. this guy is really out of control defending those hilarious claims of perfection. LOL !

those intimidation tactics may work with his audience, but they fail miserably among those who understand the market.

surf
 
<i>Allow me to clarify things for you. I make No Money trading. I'm actually a hair dresser living in hills of Arkansas with delusions of success. There is no one on the face of this earth that uses my Methods successfully.</i> P.LOGIC circa 2005



what ever happened to the "patent application" you were joking here too, right??

surf
 
Quote from marketsurfer:

those intimidation tactics may work with his audience, but they fail miserably among those who understand the market.
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I fail to see the logic behind the argument.

If either of you two believe with every fiber in your being that Prof is a fraud, then it should make perfect sense for either (or both) of you to take him up on his offer - irrespective of conditions. After all, since he must be a fraud (your viewpoint not mine), then you should easily win any contest.

What stops either (or both) of you from throwing in your chips?

- Spydertrader
 
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