[Soul-Trader2004]

Mick, you feeling a bit bitter to me tonight?

just cos it had a 48% drawdown in the month does not mean it ended the month that way.

mate, i would explain and will in time - i made a gross error of judgement and took decisions- all will be revealed soon.

But i must admit - I do not believe that discretionary traders can survive without spades of luck.

I discretionary traded for about 2 years on forex and i made money. but i truly believe now that the vast majority of my gains were because of luck and my unwillingness never to close a winning trade till the trend was dead.

As for the drawdowns - the biggest performing funds in the uk manage about 30% pa and have drawdowns of up to 40%. I know one bunch of investors in australia who make around 45%pa but have horrific drawdowns of up to 70% - i couldnt stomach that at all.

I may be wrong and all i can quote on is my experience of life at the moment - I don't yet know what i don't know.

All i know is that in my world MOST ta is total bollocks and cannot be relied upon for a more than 50% probability - this observation is held up by the latest research.

Why are you so angry at me mick? I have nothing to gain from this, I dont sell anything, I'm not attracting investors, im just shooting the breeze with you lot - whassup??

oh, and i changed his signature as he is not allowed to have links in it - it's a moneytec rule - applies to all except moderators. I didnt make the rules, i just enforce em with some humour.