Some lady posted on her blog/ website about bloggers who write about the markets and do not trade. I agree that it is dangerous to find stock ideas and blindly follow them from a blog or ANY SOURCE. I provide ideas here that I always encourage readers to “make their own” by adjusting the entries, stops, etc according to their own unique approach to the market.
What I do not agree with is her characterization of the people who are going to be involved in Wallstrip as non traders who are “displeasruable to work alongside”. I never heard of this woman and I will not link to her site and give her the publicity she seems to be craving with this post of hers. I cannot vouch for the trading results of everyone involved in the wallstrip project, but everyone of them has been a pleasure to work with. Do I detect jealousy from her?
If this quote “I have personally witnessed them in action in real time, and they are dismal. Really bad. They don’t even trade anymore in real life; they only write about it. I said to The Quant that I think they’re creating something called schmalpha, the antithesis of alpha. And we should not stand in the way. :)” from her site is directed at me, I answer with the chart of ACTUAL TRADING RESULTS of mine in my World Cup Advisor auto trade account. This account was started March 15 with an account balance of $30,000, the chart shows the actual profitability. I challenge her to post her actual results or to have the courage to trade a real account with actual results being posted by a third party source (such as www.worldcupadvisor.com) .
Another qoute of her’s
“Technicians are typically non-academics and they make a lot of money as advisors and whatnot. As long as sales and marketing can do the job of expanding the market for their services, it’s good for them. We are rarely given performance numbers, you know what I mean?” REALLY? See the chart above, that’s technical analysis in action! By a real trader, not an academic who spends their time theorizing about the markets.
Also, if you are going to open up a subject that is obviously going to cause controversy allow people to post comments or put an email address on your site so I can email you and tell you what I think! Feel free to post your comments here (as always 🙂