I’ve been at this game longer than you were born. No chart or test is ever going to impress me. I have charts that WILL blow your mind. On the day of the crash, I mentioned something about the YM closing 24090. That’s from my chart and that was done before futures opened on Sunday night. I have investors and sent them some charts for Monday before the Super Bowl started.
When I started in this game, stocks were priced in 1/4s and 1/2s. In the futures market, it was all families in Chicago back then. A kid would put up a small amount and was backed. He had to work it off and that’s how he got his start. He was basically getting a loan to start his trading business. That’s why the O’Hare trade was possible. You’d have a trader that might have normally been a 1 lot trader. One day he goes crazy and puts on 100 lots or more. It didn’t matter what he had in his account because he was on the floor. By the time his clearing firm found out, it was too late. Or he hit a home run. Those guys didn’t last. These days that’s not possible because your broker won’t allow you to put on a 100 lot without the margin. Guys blowing up isn’t something new. It’s been happening for a long time. Those guys back then didn’t hit their nut and on one trade bet everything.
I manage money. On this platform, my AUM (assets under management) stands at $3,119,400 at this exact time. I manage money outside of this platform with a larger AUM.
The way to impress me is to start trading. Your results will impress me. Not just winning results. I may be impressed with losses also. But a fair warning that I am EXTREMELY difficult to please. I will hold you to the highest standard. With my endorsement, you WILL get at least 30 investors that will jump on your strategy. Showing me a chart isn’t going to win me over.
To me, a chart or back test doesn’t tell me the full story. All these guys last week had great charts and great back test results. What happened? It wasn’t their chart. It was their emotion. It was the fact that they used the word “I think”. I think the market went too far. I think the market will come back. The market could care less what these guys think or want. At that very moment, they stopped looking at facts and wanted the market to conform to what they wanted. Well guess what. There’s someone on the other side of that trade with more money wanting the opposite. A trading record tells the truth. Some of these guys that lost $50,000 this last week, you could have handed them the best trading system in the world and they would have found a way to blow up. Why? Because they were standing in their own way. There biggest obstacle to success was them. By the same token, I talk to traders from all over the world on a daily basis. These are some of the best traders. They aren’t on this platform. They could literally do this with their eyes closed. You could give them a terrible system and they’ll find a way to make money with it.
Trading isn’t only about results. Those will come when you start trading properly. Trading isn’t only about risk management. That’s just the fundamentals. Say a trader takes a particular trade. Doesn’t matter what it is. It could be a simple moving average system. If he doesn’t take every opportunity defined in his trading plan, that’s a problem. Why? He’s trying to figure out if this next trade is going to be a winner or not. That’s a fools game. His first problem was to say “I think”. I think this trade won’t work so I won’t take it. The reality is he doesn’t know. I don’t know. And nobody knows. His whole thinking revolves around that one trade. Instead he should focus on the bigger picture.
One of my investors mentioned he was very disappointed with a particular system. This system used options to manage risk. My investor mentioned that this trader had so much experience. On the day of the crash, this trader got out of options basically removing the risk management. Why? Because he used the word “I think”. I think the market went too far. That’s why my investor was disappointed. Not more so with the money lost but because he had trust in this trader. With all that “experience” this trader had, he still let other factors dictate his trade. He stopped looking at facts. I don’t know what system my investor was talking about but from just reading it I could hear the pain in his voice. Trust broken was worse than money lost.
George you may be a great trader. I don’t know that yet. Put up your system and I’ll see your results. Digging up a post that’s a month old with no activity and posting that you’re able to trade is worrisome to me. Just being honest. To me that’s a red flag. I’m looking at everything not just results.