The Only Thread I Will Ever Create - page 3

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Even people who are deemed professional shouldn't be giving advise.

My hats off to you Larry Williams, you made 1 mil, and lost 50% of your clients investment.

http://www.wambooi.com/sog/Fraud_Larry_Williams_Reparations.pdf

http://www.wambooi.com/sog/DKB3-WinnerTakesAll.pdf

http://www.wambooi.com/sog/Fraud_Tax_L_Williams.pdf

There are people here who work in institutes and bark as if they have the professional bite... but Andrew Lahde put it best..

"Recently, on the front page of Section C of the Wall Street Journal, a hedge fund manager who was also closing up shop (a $300 million fund), was quoted as saying, "What I have learned about the hedge fund business is that I hate it." I could not agree more with that statement. I was in this game for the money. The low hanging fruit, i.e. idiots whose parents paid for prep school, Yale, and then the Harvard MBA, was there for the taking. These people who were (often) truly not worthy of the education they received (or supposedly received) rose to the top of companies such as AIG, Bear Stearns and Lehman Brothers and all levels of our government. All of this behavior supporting the Aristocracy, only ended up making it easier for me to find people stupid enough to take the other side of my trades. God bless America."

 

Yes it is true that an experienced person also requires some advice. It is not so that a person comes in this world with experience. It requires experience in every field of work.

 

Such an execellent thread!

I really like "the Seven Most Frustrating Things that Struggling Traders Do", and will study your other posts one by one.

Thanks for your contribution.

 

Ah,

I'm glad you enjoyed the thread,

Feel free to message me if you're testing a new strategy and or method and would like my 2cents.

Cheers,

 

There have been many posts as of late that discuss the "simplest" way to trade, along with "simpler strategies" for easier "trading" techniques.

I am making a very bold statement to say that,

There is no simple way to trade- and if there was- more than 5% of Forex traders would be profitable, but they're not.

If you're looking for the simplest way to trade, you really aren't fit to trade Forex- you're better off putting money in a mutual fund, and running a relative strength strategy to maintain above industry standard ROI.

But in any case, most of you won't listen, so enjoy your search, I'm just trying to save you some time.

 

A Mutual Fund won't even make you money, just look at those spectacular returns tied to the stock market. One thing I can never understand is how those so-call fund managers can make a ton of money for losing money. Something is wrong here.....

 

Yes, you are right, Mutual Funds won't make you money, but my statement was more or less directed to the fact that you don't need to manage the trades quite as directly as Forex Trading

People will always make money, regardless of where the market goes- whether someone is losing, or someone is winning, there is always someone on the other side of your trade.

That "something is wrong here" is exactly what Andrew Lahde spoke out on. People who aren't smart enough to be where they're at. It's funny how many people believe theory and practical application are the same thing- look how theory did during the market- we inflated it to the point where much of the money was statistically unaccounted for.

If you're incompetent and have an "in"- welcome to the world of Finance.

et_phonehome_2:
A Mutual Fund won't even make you money, just look at those spectacular returns tied to the stock market. One thing I can never understand is how those so-call fund managers can make a ton of money for losing money. Something is wrong here.....

This is a post from another forum I post on:

I don't agree with the statement that the FED Reserves are adding to the fire by spraying gasoline, nor am I also in agreement with the statement that the people who caused the problem are the one's now fixing it.

The government was not the problem, nor was the government causal issue; of course, there will be the debate that the government restraints and overview of the financial markets could have been the obvious problem, but lets face it - we can keep blaming it on everything and anything and that is the basis of Chaos Theory. They were monitoring the financial markets the way they should have been- more contraint, more complaints, less contraints- more business activity. Whichever choice they made, they would have made a mistake, they would have made bad judgement in the eye of society.

The problem lays in the decision making abilities of the employees who work in the financial markets- the people that knew and understood the risks applicable to their investment choices, along with the people who neglected general purposes of investment research and should not have been investing in general without conducting proper due diligence.

Of course again, we can go ahead and say well that's the fault of the investment advisors, fund managers, and whoever else who did not divulge all the information necessary to their clients, but lets face it- do your homework- you were taught that since preschool.

This problem, this world recession, was caused by over leveraging on tranches that were rated single or double "A" much higher than they should have been, while being backed by sub-prime mortgages.

This was not a problem of the Federal Reserve, and the Federal Reserve were not the commisioners of such unconservative rankings for particular investments. This, and will always be the fundamental problems in the Stock Exchange and the Foreign Markets.

There are hundreds of books that dictate the type of people who work in this market- along with even more books that dictate the "bull****" for lack of better words that run through management. The first statement GM CEO stated when the bailout failed was, "We are extremely disappointed" - the first thought that went through my mind reading that was, "disappointed of what you pompus fool, you guys didn't save money, build a profitable growth strategy, and lacked the fundamentals that any and every business should have."

...*EDIT*... I was taught a wonderful lessons at *EDIT* and at *EDIT*. Working under a CFA- he provided me with a report from India- an investment company (a trust fund, that will remain unnammed) was providing a sales report (several, 2-3 reports, a DD and a sales presentation) to us to solicitate the property to potential investors here in Canada. This is a company that manages approximately 800 million US. Now here's the kicker.

Each report revield grammatical errors, and 2-3 different financial reports that dictated different risks, ratios, forecasts and calculations. Not only that, they lied through their teeth in their presentation to the actual true amount of percentage they own on the investment itself. - This is a company who manage 800mil remember, and they can't even afford to properly put together a sales report? These reports would have gone through my classes at *EDIT* like a fire being sprayed with gasoline- it would have been regarded as a failing grade. This just shows the competency of people who actually work in particular levels in the industry.

The one thing that everyone needs to remember is that if you're too lazy to actually even bother researching, learning, and dedicating your life to actually understanding what you are doing- there is no sense for you to be investing. Sure enough you'll argue and state that's why we have investment advisors, but you honestly can't just trust someone with your life savings can you? If you can, I would think its not very wise.

The biggest thing that I learned being in this industry, and meeting people in this industry- there are people that aren't accredited, that don't have a MBA, a BA- who are much smarter than people in these institutes.

Andrew Lahde put it best, "These people who were (often) truly not worthy of the education they received (or supposedly received) rose to the top of companies such as AIG, Bear Stearns and Lehman Brothers and all levels of our government. All of this behavior supporting the Aristocracy, only ended up making it easier for me to find people stupid enough to take the other side of my trades. God bless America."

The Federal Reserve is doing what they >need< to do. If anyone here can provide us a solution better than what they are providing- then not only should you not be writing here and wasting time, you should be applying to become a part of the team who is fixing this messed. A mess that the people who work in this industry, who were not worthy of the education they received caused.

Let's put the basic facts down.

If they did not bailout whoever- you're looking at over 10 million jobs affected- that's 10million x 2 for indirect people who affected, and we can go on forever- its the ripple effect and it is not avoidable.

Yes, we will hit inflation- the printing of money will create something that may be unprecedented. What also could be done is something unprecedented to minimize such affects of printing money.

If you're going to read about what's happening the economy, before making judgements and reading the news headline, how about reading about on the economy- basic economics, monetary and fiscal strategies- listen to ALL the fundamental news being streamed to you through the internet.

This isn't a scam- this is people being lazy,

... there are several grammatical errors- I was too lazy to bother editing this post, so just read along- I wrote this before my xmas eve party in a rush.

 
et_phonehome_2:
A Mutual Fund won't even make you money, just look at those spectacular returns tied to the stock market. One thing I can never understand is how those so-call fund managers can make a ton of money for losing money. Something is wrong here.....

commision sales it's a beautiful thing. that's how they make money and stuff the client ie I have sold you a fund you place a set dollar amount into that fund that is then split between several "conpanies" divisions. and what are you given Bloody points or units or some other loyalty card style crap. as for performance take abit of this and that from china, japan, india, some smaller companies and there you have it an asian fund. that will be $135.00 per month thanks, would you like insurance with that sir. LOL

then again I could be wrong but i don't think so.

cheers

Beno

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