Not so.
I trade a 100% mechanical system on the ASX without using margin or compounding and achieve results in line with those reported by AlterEgo.
Attached is a part of my IB statement for the period July- Dec 2013.
The statement shows the individual stocks traded and the profits and losses generated from each.
This is a $100,000 account. $60,000 is used to finance the ASX trades (up to 10 positions at $6,000 each). The remaining $40,000 is used for margin for short term SPI futures trading (up to 5 contracts. Profit from the ASX system for the 6 months is $17K which is 28% for the period or 56%pa. Futures trading produced annualised return of 80%.
Now before anyone gets too excited most of the profits from tha ASX system are unrealised at 31 Dec and this is only a 6 months period. Also you will see that many of the stocks are small capital stocks and so the system is restricted in scaleability.
However the point is that these results are consistent with what I have seen over a number of years and confirm that 60%pa is achieveable from the ASX.
Internet forums attract all sorts of self-professed experts. There is an old saying that goes something like "those who can - do, those who can't - go on the internet."