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Saturday
May302015

Dr Handley Presents at TradersWorld Online Expo

(SPY)(DIA)(QQQ)(GLD)(SLV)

 

"Finding and Trading Truthful, Transparent and Profitable Trade Rooms"™ Dean A. Handley, PhD, MBA, JD

 

The global futures trade room industry is massive (811 sites), growing quickly (144 new sites in the first 6 months of 2015) and unregulated (outside of FINRA, SEC or CFTC). So there is nothing preventing highly dubious get rich schemes, cherry picking of results, parading statistically unlikely profits or promoting staggering claims of wealth. In fact, much of this is the standard bravado from hundreds of sites, making it impossible to discriminate.

Promotional terms like accurate, best, exceptional, exclusive, expert, high probability, must-see, never-seen before, precise, powerful, professional, proprietary, remarkable, revelation, revolutionary, secret, smart, successful, stunning, wealth producing, and wonderful are used to denote their education, training, programs, strategies, etc. Most of this is puffery and so, also useless in room selection.

In fact I never found any search engine strategy or search terms that selected for profitable and effective trading rooms, notwithstanding that “profitable” had never been defined. Even using careful inspection and evaluation, I bought two expensive education trading packages that failed me as well as 5 months of room membership where I lost money trading even as great profits were posted every evening.

 

All Vendor/No Trader

Unable to evaluate trade rooms using search parameters or site claims, I began to evaluate them directly through room trials (prospective empirical evaluation), usually 4 rooms simultaneously every day, over 4 years. First and foremost, the vast majority of rooms turned out to be all selling/no trading (i.e. all vendor/no trader) and in their trials they discussed possible trades but did not execute trades nor did they post a track record. Realizing that the vast majority of trade rooms were in fact sales rooms, I started to categorize what marketing methods were used in selling futures trading goods (programs, indicators, strategies) and services (memberships, mentorships, education, training).

 

Marketing Methods in Selling Futures Services

Wisdom: It became obvious that hundreds of rooms trumpeted some sort of wisdom or expertise or professional experience as their pivotal marketing message. I saw “30 years’ experience”, “20 year veteran floor trader”, “major manager of hedge fund”, or “head trader for 25 years” constantly. To amplify that status, they often they refer to themselves as universities, academies, institutes or schools, when in fact none were accredited, none had a faculty and none granted any degrees (sciolism).  

Wealth: Association of wealth with trading is a dominant marketing method, where wealth is most often stated as actual profits (down to the penny) per person, per week or over some short time period; numerical citations of percent success, profits per strategy, testimonies of huge profits or financial gains, etc. Understand that these hundreds of claims do not have any implied or direct applicability to the next potential retail trader but are there to galvanize interest and heighten desire. Images also used to project trade wealth and nothing does it better the waterfront (lakes, oceans, bays, islands, beaches, etc.). Here again, not applicable to any potential retail trader.

The power of absolutes: Marketing message like “the best”, “never fail”, “no way to fail”, “most profitable”, “most accurate”, etc. are examples. Absolute statements project assurances and confidence but again, no applicability to retail traders in general. Deities, Supernatural, Magic: These marketing messages are not found in science, medicine, law or business so I did not have any references to work from.

Select trade sites specifically state they trade futures with “God’s Rhythm”, “God’s Vision”, the Secret Code of the Illuminati, a crystal ball, ghosts, the All Seeing Eye, magic, codes, etc. I found none of these to be able to present factual substantiation of their claims nor evidence of successful trading.

Finding and Trading Truthful, Transparent and Profitable Trade Rooms

Faced with the marketing methods above, I began to formulate practical and logical choices of trade rooms that would help me to find the best trading rooms, as detailed below.

Track Record: First, most critically, was that they post a detailed track record that showed trades per day, number of contracts/trade, index traded and individual P/L per trade. A track record is the most revealing aspect of trade competence and reliability. There is no regulation, rule or law that prevents a room from posting track records - sim or cash. All vendor/no trader rooms do not trade and so do not have a track record, so to ask for one reveals their Achilles Heel and so they are quick to rebuff such inquires. Track records of a few good trades, a few good trading days, incomplete track records, video recordings (really who has time to review those), lines graphs, testimonies, or records only stating win/loss, percentage success or hitting targets 1, 2, etc. are all worthless to me. (CFRN Track Record is updated daily on Live Radio. Radio archives are here.)

Net ≥ $50,000/yr: There are literally hundreds of claims of earning wealth and income with futures trading but none have been measured. As Einstein said “a thing that cannot be measured cannot be understood”. So if you were to trade futures, what would be a reasonable measure of profit? I choose net $50,000 per year as it is equal to the 2014 median salary in the US. So $50K/ yr = $1K/wk = $200/d net.

Show trades in real time: I learn by watching, so rooms that hide their trades from me are of no value to me. Imagine trying to learn to play the piano from an instructor that hides his playing or learning chess from a chess champion that hides his chess moves. Rooms that hide their trades by day then go on to post profitable track records at night I call phantom records. If they call trades using gongs or statements but still hide entry price, targets and stops, to me that is of no value. I want entries, targets and stops to be shown well in advance so that I can see, understand and shadow trade. If you are going to study and learn under a head trader, you ought to be to see and know that they can trade

Global Trade Titans - If you apply the three criteria above to the 811 rooms I have seen, I found 13 (so far) that meet all three and these rooms I call Trade Titans. 

 

CFRN qualified for the list in early 2014.

When you trade with any of the Trade Titans, you are in the 99th percentile of trade accomplishment and you are in a friendly, supportive and patient environment. They trade and teach in tandem, describe their logic and strategies and offer guidance and understanding. You can approach and review these rooms as a first best place to start a trading career, to select optimal training and education or to just trade. Some trade in the mornings, some all day, and even one does overnight trading. They trade virtually all of the major indices (ES, TF, NQ, YM, CL, GC, QM, NG, SI, 6E, 6J, 6Y, ZB, ZN, ZS, ZW), using some of the most clever and rigorous methods to trade. Dedicated and competent - they are all trader/no vendor.

 

Dr. Dean Handley

 

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