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enkidu007 · 10-12-2003, 10:12

“veryfewchoices”

”you can write to me if you wish about the hedge fund position. I made over 40,000% in two weeks.”

Thanks for the laughs!

“Urantian”

I’m not a mathematician so I don’t have all the statistics but on all my years at the MERC have seen many traders use all kinds of methods from stars and moons to moving average to world events and have successfully traded the currency markets. (of course they use the futures and not the spot but most of those gentlemen have migrated to the spot sense there’s literally no volume left in the futures). So in my opinion there’s no “best method” to be successful except for great risk management and discipline.

My method is Pivots, it works successfully for me for all the years I was on the floor at the MERC. These pivots when prices come near them will either bounce away or pierce right through them, rarely will they hang around. They use to work pretty well in the days before the internet went mainstream, now they work really well. I think it’s because what was once information that belong to only the elite floor traders is no available to anyone who is willing to pay for it. So now so many traders institutional and public play on it that it becomes a self fulfilling prophecy. Nonetheless it works remarkably well. If you have a good money management skill it will work even better and if you know how to hedge the spot with the futures at the MERC well, your odds increase even more. I’m not a super trader and I can’t make returns like the gentleman above, but I do make enough for a comfortable living.

“naz9403”

My advice to you is to stay in school, if you plan to work for the large hedge funds (skilled and reputable ones) you need to get you MBA and your PHD otherwise the chance of you getting hired by them is close to nil. Oh and make sure that your MBA or PHD is from a top notch school such as MIT, Stanford, etc. Otherwise you can always start your own!

“have no problem reading about or sitting in front of the computer watching the tickers and charts” you will as you get older. I was the same way out of college, but I’ve learned that life is just too precious to sit in front of that dam screen, but I gotta bring home the bacon.

A hedge fund is similar to a mutual fund. However, here are the differences. A hedge fund is not required to file with the SEC nor the NFA, actually it is better that it doesn’t. A hedge fund can do anything, trade anything, any methods it chooses as long as it is legal. In general, a mutual fund can only go long and can only be in securities, unless it has written authorization and exception from the SEC. (which is a ton of paperwork). The industry would like you to think that mutual funds make money on performance, it’s a lie, most their profit is made from management fees and expenses, hence the more money they bring in through solicitation the more the manager makes. Hedge funds on the other hand is all about performance, most of the hedge funds out there take 15 to 20 percent of the profit but if the make no money for the client then the client does not have to pay. Where mutual funds are compose of the general public, Hedge funds are composed of professional investor. (individuals who have net worth in the millions) An example, most hedge fund that starts out is either 5 to 15 individuals who pool together 10 to 100 million at the conception. Here’s the catch, this does not apply to non-US territories. No hedge fund may advertise or solicit money from US residents without applying to the SEC (since no hedge fund wants to do that) most us residents have no clue that these funds exist. Those that do are usually by word of mouth and I don’t know how legal that is. One last thing, hedge funds take extraordinary risks, if you read papers from the past you see there have been a few that have flopped in the mid 90’s that almost put the world’s financial system in trouble. So it’s not for the light hearted.

10-12-2003, 10:12	#9
enkidu007 level 1 Join Date: Dec 2003 Posts: 11 Downloads: 0 Uploads: 0 Rep Power: 0	“veryfewchoices” ”you can write to me if you wish about the hedge fund position. I made over 40,000% in two weeks.” Thanks for the laughs! “Urantian” I’m not a mathematician so I don’t have all the statistics but on all my years at the MERC have seen many traders use all kinds of methods from stars and moons to moving average to world events and have successfully traded the currency markets. (of course they use the futures and not the spot but most of those gentlemen have migrated to the spot sense there’s literally no volume left in the futures). So in my opinion there’s no “best method” to be successful except for great risk management and discipline. My method is Pivots, it works successfully for me for all the years I was on the floor at the MERC. These pivots when prices come near them will either bounce away or pierce right through them, rarely will they hang around. They use to work pretty well in the days before the internet went mainstream, now they work really well. I think it’s because what was once information that belong to only the elite floor traders is no available to anyone who is willing to pay for it. So now so many traders institutional and public play on it that it becomes a self fulfilling prophecy. Nonetheless it works remarkably well. If you have a good money management skill it will work even better and if you know how to hedge the spot with the futures at the MERC well, your odds increase even more. I’m not a super trader and I can’t make returns like the gentleman above, but I do make enough for a comfortable living. “naz9403” My advice to you is to stay in school, if you plan to work for the large hedge funds (skilled and reputable ones) you need to get you MBA and your PHD otherwise the chance of you getting hired by them is close to nil. Oh and make sure that your MBA or PHD is from a top notch school such as MIT, Stanford, etc. Otherwise you can always start your own! “have no problem reading about or sitting in front of the computer watching the tickers and charts” you will as you get older. I was the same way out of college, but I’ve learned that life is just too precious to sit in front of that dam screen, but I gotta bring home the bacon. A hedge fund is similar to a mutual fund. However, here are the differences. A hedge fund is not required to file with the SEC nor the NFA, actually it is better that it doesn’t. A hedge fund can do anything, trade anything, any methods it chooses as long as it is legal. In general, a mutual fund can only go long and can only be in securities, unless it has written authorization and exception from the SEC. (which is a ton of paperwork). The industry would like you to think that mutual funds make money on performance, it’s a lie, most their profit is made from management fees and expenses, hence the more money they bring in through solicitation the more the manager makes. Hedge funds on the other hand is all about performance, most of the hedge funds out there take 15 to 20 percent of the profit but if the make no money for the client then the client does not have to pay. Where mutual funds are compose of the general public, Hedge funds are composed of professional investor. (individuals who have net worth in the millions) An example, most hedge fund that starts out is either 5 to 15 individuals who pool together 10 to 100 million at the conception. Here’s the catch, this does not apply to non-US territories. No hedge fund may advertise or solicit money from US residents without applying to the SEC (since no hedge fund wants to do that) most us residents have no clue that these funds exist. Those that do are usually by word of mouth and I don’t know how legal that is. One last thing, hedge funds take extraordinary risks, if you read papers from the past you see there have been a few that have flopped in the mid 90’s that almost put the world’s financial system in trouble. So it’s not for the light hearted. Last edited by enkidu007 : 10-12-2003 at 10:17.