tech/a
No Ordinary Duck
- Joined
- 14 October 2004
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I have actually done exactly that.
Around 4 yrs ago a friend asked me what I knew of them as he was going to one of their start up seminars.
I knew nothing so suggested I'd contact them and make some enquiries one to one.
I forget the name of the young guy I met but he was the "Manager" of the Adelaide Office. He was very helpful very up front and I believe a genuine guy.
We went over Goodwood Road to a Coffee shop and sat at a table for a couple of hrs.He bought a huge folder with past trading results and that of his client competitions to validate some of his claims.
I soon realised that specific questions to him with regard to systems testing only gave me an indication of his understanding not that of the Company and its coaching staff.
This is what I found over the 2 hrs.
(1) My new aquaintance didnt trade his focus was on the Business of hometrader which he was very passionate about. He didnt have time to trade. That was by me fine,at least he knew where his strength lay.
(2) They relied heavily on their results being leveraged (at the time) I was told that even a system with a 3% return could when leveraged (CFD's were all abuz then) could return terrific logterm profit just imagine one that returned 30-40% un leveraged---his words.
(3) There were many many people showing terrific return in the competition some with 700% return. When challenged on how this could occur (Outlier moves on pennies most likely) there was no response as clearly he didnt have a suggestion.
(4) I chose 4 winners of the comp and went back over the last 2 yrs results to see how often they won. Amazingly not one appeared again in the top 10 in any of the competition results.
However there were some who appeared at the low end of results more than once. This indicated to me that perhaps these people had found "Something".
Those at the top probably only had success by luck more than by design.
(5) I had no problem with their pricing nor their choice of tools.
(6) I couldnt comment n the coaching as i didnt see any.
(7) They had a trading room with active traders manning the terminals.
There were around 10 when I went through.
I did notice that all bar 2 had penny stocks on their screens and only half of these people seemed to be trading the rest were fiddling with ideas. Those trading seemed involved in descretionary considerations by the content of the excited discussions rather than a systamatic systems approach.
But all in all I thought these guys at least had something to offer.
What clients took away from their coaching would in part be governed by the quality of the staff coaching but also to a large degree by the understanding of their clients what it was that they SHOULD be looking to take away.
Few realise this. Many are looking at the destination and not the journey.
Asking the right questions and moving in a direction you know to be correct will fast track any learning. This ofcourse comes with your own experience and learning what it is you NEED to learn from others who have been there.
My friend never joined not from my report of observations but he didnt feel he had the time to dedicate to the learning process.
He still "Trades" but by guess and I only hear from him on the topic of trading when he guesses right. As far as I know he has a 100% success rate.
I'm sure we all have friends who trade this way.
Finally I'm sure your right in that H/T would have come a long way,and developed as a value adding business,any serious business which survives and H/T seems to have,will grow and become better at what they do.
The addition of Amibroker can only be a good thing. However I still suspect from some comments here that they need to learn more about what they SHOULD know.
As evidenced here.
