So I get email all the time about this and that from people that I never met or most likely never will, you can click on the email to read it if you like. But the bottom line is pretty simple in my opinion.
My response is easy, do they have actual broker statements, certified to be true and factual and that real money was traded in the account or was it a sim account like Steve Matrix tried to pull off a while back....see archives.
What is the drawdown if they do have actual statements, it important to understand that you might have to suffer thru a period of drawdowns until the system turns around and becomes a winner again. Now, it doesn't matter what BSski they say, ALL SYSTEMS HAVE DRAWDOWNS, just ask around. If the drawdown is 25% then the question is can you live with that or what if it's 30%. If you can't then the answer is clear....DON'T!!!
Has the system been submitted to Future Truth for review? You can click on the title to go to their website to check and see if the system has been tested by them, who provide an independent review. If it hasn't then the question would be WHY NOT??
Then the last question is who controls the funds, is it setup for a discretionary trader to just trade the funds or are the funds thrown into a pot and stirred around, who trades it and what is their background and so on.
As far as Make-a-Wish, I can only say that Ken Wood and TonyUK have put on at least 3 maybe 4 of these TAL a year since 2003. They took in 30k at the door in Chicago, I was there. They had over 120 people in CA later in the year but they had to pay for the room, internet and so on there, I was there also....but still we are talking about 40k at least. You can call The Make-a-Wish Foudation at (800) 722-WISH (9474) and ask them just how much money the Woodies CCI Club donated.....now not what people gave in honor of Ken Woods, but what the Club gave in their own name. Ken Woods has made claims in the past of over 100k given and that he is a personal friend of the President of the Foundation since it's located in Phoenix just down the road from where he lives.
PFG made two donations from the first two TAL after they worked a deal out with Woodie to promote their brokeage firm, but that seems to have dried up. The deal is live and well as they will be the official AutoTrader firm.....hummmmm.
But in the end, you have to believe in it...but only after doing some homework, but this should be about any investment and it doesn't matter what it would be...real estate, new business startup, antiques, coins, stamps, wine or stocks and futures or a CD down at the local bank......RIGHT?????.
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6 comments:
To all the Wanna-be a Millionaire tomorrow traders: Forget it, turn away from the markets, you won't make it. It doesn't matter what system you use, it won't work for you, unless you invest countless hours, days, weeks and years in your training. Trading is a fulltime job and it requires an education as every other profession. Your fund returning 10% over the year? Well that's a job well done, it's above the interest rate you earn, but these 10% on your equity can be earned in a day, you know that?
The S&P falling from 1564 to 1554 yesterday is 10 points, is 40 ticks, trade 50 cars and you just made 25k$ on your 250k$ account (margin is around 150k$). You don't like it that risky, me neither. So take the long route, earn your right to trade 50 cars, by successfully trading 1 to 5 cars for a year and longer.
Be sure it will take longer, before you know how to swim the markets, before you have left all that baggage behind you which is holding you back. It took me 5 years to leave these oscillators including the CCI behind me. I'm still sometimes thinking...shouldn't I put them back on...especially when I had a particularily bad day. Keep it simple...the only important question is: Do prices from this level go up or do they go down. That's all you need to decide. Problem is, you need to be right more often than not for your emotional setup and you should have higher profits than losses or you won't be able to survive long enough as a wannabe trader. You need to find your edge, your system, a system you understand and trust and that takes time. If you interested, take a look at my blog to see what windy road I've taken http://globetrader.blogspot.com
Chris
Hi Dennis,
Do you have a link for "Future Truth".....I googled it to no avail.
I share the concern of the writer of that email about his parents. A lot of us got sucked in by woodie and his magic CCI and are the poorer for it.
Cathy
Hi Cathy and Dennis,
Cathy's question regarding the link is funny to me because you (Dennis) have hidden it behind the headline of your post.
Cathy, I would just let you you know, that some time ago, I have had a similar experience with another post from Dennis. I have to admit, that somehow I missed to click on the underlined headlines, but I still don't know why.
Anyway, here is the link again:
http://www.futurestruth.com/backissues.htm
Dennis, as someone before me has written, I also hope, that you will think about doing another workshop next year. I hope that I will be able to attend then, but even if I can't, it will be helping others, and that is what counts (IMO).
Just go on, you have a good heart.
Regards,
Rainer
We will have another one for sure, as soon as the winter is behind us......because we have it in the garage and we eat outside looking over the mountains....the whole experience is what everyone talks about....
Instead of some convention center room with the usual junk...this just makes you feel like a million bucks...and "EVERYONE" is invited to my workshop....EVERYONE, even BobCathy, Jimsy, Kate, Bonnie, Hoot and the rest of the friends of the Wood.
Hey Cathy, great to see you are still live and well and kicking around....
Like Rainer said, just click on the title line and it will pop you over the Future Truth site.
Peace mama....:)
Hey Sport I am sure that PFG thanks you for promoting Futures Truth as they are a PFG introducing broker.
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