What the heck is this ??
- Thread starter sonyericson
- Start date
Seems like a pretty simple system. Nearly every news announcement will bounce both ways, so you just use a tiny target and a big stop loss. You get a lot of wins, but whoops, every loser whipes out a few weeks gains.
You don't actually make money with this system. Daddy owned a big company that went out of business, so you throw a logo up over one table and pretend like it's your big company, when in reality, it's just another piece of empty commercial real estate.
Then you sell this crap for a big chunk of money.
If you want news announcements, get tradethenews.com. duh.
If you want to use a huge stop and a tiny target at a moment of a volatillity spike, all you need is a coin.
Jus to let all newbies out there know, this whole idea is really, really dumb.
By the way, anyone can type up phoney brokerage statements. Do those even look remotely real to anyone?
You don't actually make money with this system. Daddy owned a big company that went out of business, so you throw a logo up over one table and pretend like it's your big company, when in reality, it's just another piece of empty commercial real estate.
Then you sell this crap for a big chunk of money.
If you want news announcements, get tradethenews.com. duh.
If you want to use a huge stop and a tiny target at a moment of a volatillity spike, all you need is a coin.
Jus to let all newbies out there know, this whole idea is really, really dumb.
By the way, anyone can type up phoney brokerage statements. Do those even look remotely real to anyone?
I posted this on the Oscar thread, so I figured hey why not here to. New traders please use your head and not you emotions.
In the financial world in which we live, with a Billion here and a Billion there being thrown about, the size of account I will be referring to is really not that great, so lets get on with it.
Lets say you have a reputation as a floor trader, Indy/remote trader and, here is the BIG one, you are consistently profitable over a 3-4 yr time frame.
You decide to put some feelers out with contacts you have made, providing them with an audited copy of your accounts, and the time you have traded them successfully. What you are looking to do is start small, maybe $5 Million total, either in a fund or POA trading accounts. So you raise the $5 Million. Which again should be no problem because of your "name", contacts and Reputation.
So here we go $5 Million under management.
Let's say your average month profit is a gain like 3.8%
So that gives us $190,000.00 per month. This of course is without Broker, exchange and other fees which do have an impact, but to keep it simple I am leaving this out.
So you have $190 K, now you, as trader gets 17% of the high water mark, this leaves you with $32,300.00. This still leaves the client with a bit more than 3%. They are happy, you are happy, and everybody's happy.
Now this is were the fun really starts, they tell other friends and soon you are having to turn away clients, because you may have psychological barrier for trading over $40-$50 Mio. total account size.
I am not going to do all of the math but, you can see that if you can trade, and be consistent at it, you can make wayyyyy more money trading than you ever could Guruing. So if someone was in mortgages, real estate etc, you would think that they should have the contacts to raise funds, which in turn would allow them to trade this Super Secret Al Gore Rhythm and make massive returns, 70% winning rate, wow the Holiest of Holy Grails.
My point is, why go through all of the trouble to set up a
marketing thingy, having to continually look for new clients to subscribe, then having to sit all day coaxing, prodding, cajoling and generally listening to whining.
I think it is so much easier to just make 9-3-11 trades.
The Ever Amazed VIPER
In the financial world in which we live, with a Billion here and a Billion there being thrown about, the size of account I will be referring to is really not that great, so lets get on with it.
Lets say you have a reputation as a floor trader, Indy/remote trader and, here is the BIG one, you are consistently profitable over a 3-4 yr time frame.
You decide to put some feelers out with contacts you have made, providing them with an audited copy of your accounts, and the time you have traded them successfully. What you are looking to do is start small, maybe $5 Million total, either in a fund or POA trading accounts. So you raise the $5 Million. Which again should be no problem because of your "name", contacts and Reputation.
So here we go $5 Million under management.
Let's say your average month profit is a gain like 3.8%
So that gives us $190,000.00 per month. This of course is without Broker, exchange and other fees which do have an impact, but to keep it simple I am leaving this out.
So you have $190 K, now you, as trader gets 17% of the high water mark, this leaves you with $32,300.00. This still leaves the client with a bit more than 3%. They are happy, you are happy, and everybody's happy.
Now this is were the fun really starts, they tell other friends and soon you are having to turn away clients, because you may have psychological barrier for trading over $40-$50 Mio. total account size.
I am not going to do all of the math but, you can see that if you can trade, and be consistent at it, you can make wayyyyy more money trading than you ever could Guruing. So if someone was in mortgages, real estate etc, you would think that they should have the contacts to raise funds, which in turn would allow them to trade this Super Secret Al Gore Rhythm and make massive returns, 70% winning rate, wow the Holiest of Holy Grails.
My point is, why go through all of the trouble to set up a
marketing thingy, having to continually look for new clients to subscribe, then having to sit all day coaxing, prodding, cajoling and generally listening to whining.
I think it is so much easier to just make 9-3-11 trades.
The Ever Amazed VIPER
At 70% wins you need Win/Loss ratio of .55 or better. If the system supported tighter stops than that it should be good in the shorter term.
I did news trading in the 90's. I was filtering headlines and story content by keywords and I added a lot of features to the software over time. It was great really, but I had a job and the commute was right dead in the middle of the market opens, it really killed the joy..
Earnings come out largely just after the market closes, other news sometimes comes out pre-market but the announcements that happen during the market are the ones where you can get in early and capture most of the move.
I should resurrect all the software I wrote at that time, it was far ahead of anything I've seen to date. The downside was that it required a lot of attention to the computer, in those days you had 30 seconds, max, to respond to an intraday story and with some, especially the Biotech ones, it was obvious that insiders were waiting for the story, the volume would go crazy in 5 seconds... nowadays it seems like there is very little reaction relative to what those days were like...
What happened to the daily post that were going to prove this wasn't bullshit? How much money was lost since the last post bragging about point captures?
I don't mean to run around slagging people or vendors, but when I see something this stupid, I just gotta speak up. To all the new traders out there who may venture to this thread, take some good advice and save your money.
I don't mean to run around slagging people or vendors, but when I see something this stupid, I just gotta speak up. To all the new traders out there who may venture to this thread, take some good advice and save your money.
So you gonna post something like these? Because without verifiable proof, none of these systems have any value...
