THE MARKET WIZARD THREAD

[clacy]

Quote from WoodyK:

Quote from alfonso:

Is there anyone who didn't find Tom Baldwin to be a total jerkoff?


I for one.

I was floored by Tom's ability to get it done. He stood there in the same spot for 6 months with a sandwich in his pocket and learned how to trade. He had limited funds AND a pregnant wife to boot.

I still have a magazine article about him explaining his ability to trade without emotion and how much better your trading decisions would be without letting fear or greed interfere with them. My 40 year anniversary as a very successful long term speculator is due in some part to his reluctant willingness to share his wisdom.

About 10 days ago I personally spoke on the phone with Tom Baldwin for about an hour regarding my son's trading system. Would a total jerkoff be willing to do that?

The result from that conversation, is that my son relocated to the east coast to trade 100 lot 30 year Treasury Bonds on a short term basis. (Tom convinced me to go short term with no overnight was best and he cited the reasons).

I was due to get on the plane myself from Vegas but it was easier for him to go and stay with his sister to take advantage of the time zone and start quickly. (At my age I like to be a little less frantic so hopping on a plane to stay with my daughter AND trade is a little much).

My son called me yesterday to tell me he took over 40 ticks from the bond market on Friday- a bit better than his average of 30 or so ticks. So, thanks, Tom.

BTW, even after several financial setbacks and a divorce, Tom is still trading from his mansion in Michigan. He said he was still doing well and I have no reason to doubt him.

So your son takes an average of $100,000/day from the bond market?

If so, why in the hell would he be asking people for advice or switching things up?

 

[OddTrader]

Quote from clacy:

So your son takes an average of $100,000/day from the bond market?

If so, why in the hell would he be asking people for advice or switching things up?

http://en.wikipedia.org/wiki/Snake_oil

Quote from WoodyK:


Thanks to Tom, I am trying my hand at the Bonds starting out with a 100 lot on the 30 year. This is my first venture into that market but it looks good so far trading my son's capable system. We'll see.

http://www.elitetrader.com/vb/showthread.php?s=&postid=3740875#post3740875

 

[WoodyK]

Quote from OddTrader:

http://en.wikipedia.org/wiki/Snake_oil




http://www.elitetrader.com/vb/showthread.php?s=&postid=3740875#post3740875

I already replied to someone else but apparently there is some sort of delay.

Many things were discussed in that hour conversation. In fact it was the second such conversation with Tom. Most of it is not relevent here except the decision was made to trade bonds. Originally bonds were not the topic of conversation at all.

What you fail to discern is that this just started days ago. A last minute, spur of the moment decision was made, to take advantage of the east coast time zone and so far my son reported it was working well. That's it.

My primary reason to post at all was that I registered to respond to another thread and just happened to see Tom Baldwin disparaged (unrightly so from my recent experience with him) and said so. I still feel that way and nothing will change my mind. There won't be any further posts because I already said my piece.

For 40 years I have traded intuitively without sharing in detail even what I do with many people except for very close friends and family (most of them have their eyes glazed over after 5 minutes anyway).

I've never traded for anyone nor do I want the responsibility-so if that's what you are inferring, you are dead wrong. I was just giving you some background. End of story.

What you might want to take from all this is, from my perspective, the 30 year bond is apparently an excellent vehicle to trade. Who knew? No wonder Baldwin made so much money for so long and according to him, still is.

 

[Fazer]

None of the Wizards reveal details of how they actually money.

Thats the biggest secret revealed of how to make money.

 

[Fazer]

Quote from Fazer:

None of the Wizards reveal details of how they actually money.

Thats the biggest secret revealed of how to make money.

That should read - actually make money