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Anyone know of this service- newfuturestrading.com
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Anyone know of this service- newfuturestrading.com

  #71 (permalink)
Elite Member
Honolulu, Hawaii
 
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Trader Duck View Post
10% per month is not impressive. Isn't that only 2 tics per day? If you have a $5,000 account, trade the EC with 1 contract and make 40 tics in the market, you will make $500. That is a 10% return. In the futures market this is absolutely possible to do in a month. But there are some that average that much each day. To me 40 tics per day is like a 280 yard drive in golf. Most amatuers can't do that, but the pros do it all the time and some average that much. We know it's possible in golf because we can watch it on TV. But in trading, it isn't so easy to witness that kind of success. In some trading chat rooms, you see it. But if you look at the charts and apply a good trading strategy, you can see it. There is no need to look at someone else's P&L to prove it. You can see it in the charts.

Well, if people could do 10% per month compounding in the futures market, then the richest people in the world would be traders. I believe that Steve Cohen is the richest trader in the world (could be mistaken) and it has been a long slog for him and I would venture that his returns were no where near 110% compounded on his trades but only by leveraging other peoples money and trading.

I agree, it can be done, but why would a person not pay their investors if they could do it? It doesn't seem hard does it?

Laziness, Greed, inability to perform, who knows and it is all speculation. I don't care, as I just want friends to get their money back.

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  #72 (permalink)
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bluemele View Post
Well, if people could do 10% per month compounding in the futures market, then the richest people in the world would be traders. I believe that Steve Cohen is the richest trader in the world (could be mistaken) and it has been a long slog for him and I would venture that his returns were no where near 110% compounded on his trades but only by leveraging other peoples money and trading.

I agree, it can be done, but why would a person not pay their investors if they could do it? It doesn't seem hard does it?

Laziness, Greed, inability to perform, who knows and it is all speculation. I don't care, as I just want friends to get their money back.

Oh, ye of disbelief, know one thing. A not so famous quote from Travis Norman.
"One cannot comprehend the station above them."

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  #73 (permalink)
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Trader Duck View Post
10% per month is not impressive. ... But there are some that average that much each day.

10% a month, starting with a 5K account, is $1.5M after 5 years. Not out of the realm of possibility, but the math looks quite easy compared to actually doing it.

As for doing that each day, do the math for just 2% compounding per day and you'll see it's out of the realm of possibility (using real funds, over a longer period of time, say months on end) for even the most gifted trader. Ever met (or heard of) someone who's turned 5K into $700K 12 months later? That's 2% per trading day.

10% per trading day would turn $5K into $2,400,000 in three months. Still think some average that every day?

I'm just giving the math--the facts only, not hopes, not dreams (both of which can be important for sure). Just in case some person who thinks trading is easy money comes along and reads the statements you made and thinks he'll give it a try without assessing risk first (which is what it would take, a disregarding of risk, to make anything near 10% on average per day, which is why it is impossible).

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  #74 (permalink)
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Here's the PDF bluemele posted a link to. Just for the record.

And shame on you Henry, for allowing your arrogance and limited success to make you think you are above laws and regulations. Your high and mighty attitude, evidenced in so much of what you said, is causing you to now be humbled it appears.

Quote from attached PDF:

Quoting 
A review of all NFTI banking records known to the Bureau, from three separate banking
institutions, indicates that NFTI currently has approximately eight thousand, five
hundred dollars ($8,500) in available cash.
The banking records indicate that NFTI has
very little assets left of the one million, one hundred and forty-eight thousand dollars
($1,148,000) raised through the unsecured promissory notes. It is unlikely that NFTI
has sufficient income to meet its current obligations and is therefore insolvent.


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Anyone know of this service- newfuturestrading.com-enforcorder_newfutures-ceasedesist.pdf  
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  #75 (permalink)
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josh View Post
10% a month, starting with a 5K account, is $1.5M after 5 years. Not out of the realm of possibility, but the math looks quite easy compared to actually doing it.

As for doing that each day, do the math for just 2% compounding per day and you'll see it's out of the realm of possibility (using real funds, over a longer period of time, say months on end) for even the most gifted trader. Ever met (or heard of) someone who's turned 5K into $700K 12 months later? That's 2% per trading day.

10% per trading day would turn $5K into $2,400,000 in three months. Still think some average that every day?

I'm just giving the math--the facts only, not hopes, not dreams (both of which can be important for sure). Just in case some person who thinks trading is easy money comes along and reads the statements you made and thinks he'll give it a try without assessing risk first (which is what it would take, a disregarding of risk, to make anything near 10% on average per day, which is why it is impossible).

It is 2 tics per day, not 2%. If we're looking at 10% per month, with a $5k account, we need $500. That's 40 tics on the EC. With 20 trading days in a month you need just 2 tics per day. Now if that raises the bar too high, think about it. We can only lower the bar one more tic before we are digging a hole. My point is that 2 tics per day is a very low goal. If that isn't possible, why trade? I am stunned and amazed that people don't think you can make 2 tics per day. It quacks me up.


Last edited by Trader Duck; October 16th, 2011 at 10:12 PM.
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  #76 (permalink)
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bluemele View Post
Gosh, well, it seems Henry is definitely under investigation and a lot of good friends have some significant capital invested with him.

I am sorry to see so many people get hurt by dealing with Henry. I was never a big fan of the guy, but to see this is just downright terrible.

I hope everyone gets some of their investment back.

Yeah I know he was really pushing students to let him trade their money. I think that was the beginning of the end for him and unfortunately some great people who may have lost some or a lot of money with him (I hope that isn't the outcome).
He was a good trader and he had a very good trading methodology. I'm still using it with some other things I've used over the years.

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  #77 (permalink)
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travelinman View Post
Yeah I know he was really pushing students to let him trade their money. I think that was the beginning of the end for him and unfortunately some great people who may have lost some or a lot of money with him (I hope that isn't the outcome).
He was a good trader and he had a very good trading methodology. I'm still using it with some other things I've used over the years.

What have you done to adapt?

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  #78 (permalink)
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Trader Duck View Post
It is 2 tics per day, not 2%. If we're looking at 10% per month, with a $5k account, we need $500. That's 40 tics on the EC. With 20 trading days in a month you need just 2 tics per day. Now if that raises the bar too high, think about it. We can only lower the bar one more tic before we are digging a hole. My point is that 2 tics per day is a very low goal. If that isn't possible, why trade? I am stunned and amazed that people don't think you can make 2 tics per day. It quacks me up.

The issue is not with 2 ticks per day. Lots of people, especially new traders, focus on how much you have to make to make $X per week or month. However, the real question in trading is not how much you can make, it's how much you're risking. How much risk does it take per day to gain 2 ticks?

When you put it like this, "who can't make 2 ticks per day?" then of course everyone says "well, I can!" And then we talk about scaling up size, but still inherent in the equation is the question, how much RISK do we incur? Scaling up size not only increases how much those 2 ticks are worth if we make them, it also increases the amount of capital we can lose.

So, 2 ticks, 4 ticks, 20 ticks per day, not the issue--the issue is how much capital we risk.

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  #79 (permalink)
Elite Member
Chester Springs, PA
 
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bluemele View Post
What have you done to adapt?

I use a few different Market Profile trade setups that I learned from a very good MP trader to trade the ES. I use some different tick base charts with MACD-BB indicators on them to help verify the setups and/or to keep me in a trade. Now it is more a matter of trying to stay with the trade longer. I spent too much time trying to trade the Russell with the NFT setups, when I should have been using that time to refine my ES trading.

I've talked to a few of the students who had money with Henry, I feel bad for them and hope that they can get their money back. From what I've seen I kind of doubt it though.

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  #80 (permalink)
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travelinman View Post
I use a few different Market Profile trade setups that I learned from a very good MP trader to trade the ES. .

Did you go long at 1186.25 today? If you did, I think I know who you are talking about . The setup is known before the market open.

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