Why I loathe TMF

Hi all,

A quick rant!!


I rarely go over to TMF any longer, it was my virtual home for more than two years but I got so tired of the attitudes over there that I left I accidentally caught this post and it rekindled all those memories!!

TMF Pyad on TA:

Nobody ever makes any money out of it. People make the occasional score but end up losing in the long run. An extreme minority may manage to make it work sufficiently often to make profits overall in time but they don't succeed because of TA itself but because they are pure gut instinct natural traders. Such people are so rare that this still counts as nobody and you are not one of them.


Ugh!!!

I can't say I agree with Pyad on this one, Helen, or that I always agree with a lot of what he says, but I still often enjoy reading his posts, and even if I didn't I wouldn't see them as a reason to leave TMF, you can always just ignore them.

I've not visited TMF too often so can't comment on the quality of the discussions. What I can comment on, though, is T2W discussions.

I don't think that I have read one negative post and I've not found any really aggrevating comments. Just help from more experienced traders than me, constructive criticism and general niceness.

I have experienced bulletin boards from another well known financial web site (I won't mention which one because I'm not sure that I should) and became totally hacked off with some of the negativity, ramping and, in some instances, bitching between posters.

Considering that this site is free we must have a better class of contributor or the moderators do an excellent job of weeding out the dross.

FC

It is certainly a highly polarised site between TA and FA as we once discussed on there, it's a shame they coudn't cooperate more, but it was run by fundamentalists and they seemed determined keep TA out on the fringe.

I was happy to accept the validity of FA strategies providing they were backed up with some evidence (same for TA or money management for that matter) such as consistent profits. However the 2 official TMF portfolios were run with a high degree of subjectivity and showed no significant return relative to the market, less still in absolute terms the last time since I checked. TMF has a diverse set of boards and is still OK in some areas but not for FA investment.

<i>An extreme minority may manage to make it work sufficiently often to make profits overall in time but they don't succeed because of TA itself but because they are pure gut instinct natural traders</i>

This is nonsense. Working on gut instinct is the main reason why traders get into trouble, they like the Nick Leeson image and perform about as well over the long run. Pyad has traded for a long time but he has traded less times than many novice daytraders, so statistically speaking his returns mean very little in my opinion. Nassim Taleb would sort him out!

Thanks Cass well reasoned.

Believe it or not, FatCanary, we can count on one hand the number of weeds we have pulled from this Board.... and I only have four fingers.... adn there's still a couple left. I gess the trouble makers take one look here and see no opportunities. I can't think of any other reason why we don't have them on a regular basis.

Spot on Mrs Q!
I only swapped emails with him once and thought him an arrogant prat. (I could flower that up a bit I suppose, hmmm, 'inclined to believe his own publicity')
He's incredibly blinkered, and from the intelligence viewpoint it is stupendously poor logic to assume that just because you dislike or don't understand something then it can't be valid - as I recall from our brief 'chat' he told me he was great at TA and knew all about moving averages, which I surmised was what TA is all about.
Dave