I do not agree with your comments.
The CD contains interviews with some excellent traders and if you listen to both the personal and trading stories you will uncover a wealth of useful information.
Pete Steidlemayer certainly isn’t “total crap”. Sorry but he invented Market profile and is renowned world wide. In the Interview he explains why the USD will always be the worlds currency – why because the USA are the worlds biggest consumers and we just love buying their debt. Interestingly enough when the recording was made the EUR/IUSD was at 1.28 and the world of FX was hammering the dollar. See how far it has come back. The man is a recognized genius.
Then we have Shaun Downey chief technical analyst of CQG. He tells us about his early days in the London commodity markets, his drift out of the markets following the 1987 crash and his return. I actually worked in Plantation house where Downey worked but we never crossed paths. Downey has some quite amazing theories and was trading 38 markets simultaneously at the time of the recording. Asked about a high life style, he replies that he still lives in Catford and drives to work on his old 2 stroke motorbike and his only real luxury is flying first class when going on holiday. His method of analyzing the soybean market was like nothing I had ever heard before - anywhere. His logic behind being permanently short GM and McDonalds was also shockingly logical once you understood where he was coming from.
Then we have Willem Van de Vorm the well known FTSE100 pit trader, who after having confirmed Levy’s suspicions that the FTSE pit traders ran the stops up and down as they wanted, answers Levy’s question “What was your best ever trade”, by chuckling and replying “Yes this was when I kept selling clips of 25 big SP when the market was moving strongly upwards against me. After sometime I knew I was wrong and I closed out the trade. The next day I was very happy because if I had stayed in the position it would have cost me 1.5 million when it actually only cost me 750.000 USD”.
There are loads more, including Mike Battle who openly admits “very lean years” before he found his way and says on the tape that at one stage ‘I was getting no positive feed back whatsoever to indicate I should carry on trading ‘ What did he do, he carried on, found what worked for him and now manages millions.
You also have Chris Kobowka who is a salt of the earth type trader. The man openly discusses his complete contempt with large institutions that refuse to give the ordinary man in street the entire picture. Chris turned 200 into 11.000 in 4 weeks. Absolutely not ‘total crap’ I think you would agree. Chris is the only trader I have ever come across whose sole purpose is to see Joe public get a better deal and get ahead for the first time in his/her life start winning instead of consistently loosing. He goes completely against contemporary theory in all aspects of trading and says time after time on the recording that it isn’t necessary to be heavily bankrolled and that it is possible starting with just a few hundred. Try telling this to your high street bank His has proved his profits with statements and has made it from almost nothing to consistent weekly profit..
And what about Colin Jaeger, or John Hill of Futures Truth, on a lighter note I was roaring with laughter when he seriously started to discuss the fact that he had hired a consultant to investigate the fact that every time the soybean market headed up his cows in the back field also headed up to the top of the field. The man is a legend.
The idea of creating the disc is very clever, it’s the first time that I have heard traders go over their backgrounds and past and gives insights into what made some of them succeed and others fail. Levy squares things very well as he includes at least one interview of a disillusioned trader who paid his ubiquitous 5000 for a course – like we all have - and never really made it any farther than that, is disillusioned with the markets and no longer trades.
Levy is absolutely not ‘total crap’, for sure he is anecdotal, interrupts – hey doesn’t Larry King do that – sometimes cross questions, but the stories flow and they are riveting and just when you think things are going anywhere he pulls the interviewee back to the crux of the matter. The quality of the tape recording on occasions doesn’t help, and there are a few breaks for a few seconds, but listen to the content, some of these people are the best traders the likes of you and me are ever going to get anywhere near as regards understanding how they really tick and how they really trade the markets
For your information I am also on the recording and do not consider myself to have anywhere near the level of expertise of the above traders, I am however a profitable day trader. I was not paid for my interview and have no financial interest in promoting it, I believe it is unfair to call it ‘total crap’, that doesn’t do it justice. The CD is simply very good, there is a wealth of information on there, I must have listened to it at least 5 times already.
I hope this helps and answers you concerns.
Regards
Paul Langham
90 Avenue Coghen
1180 Brussels
0032496749833
