In the "Just When You Think You Have Seen it All" Category, John Paul's Outrageous Claim

In the last year, I think I have seen just about every whacky claim from sites claiming to make you an "instant millionaire" to sites that guarantee you will make big money in your first year of e-mini trading.  But one site has won the "Bullshit Claim of the Year" award, and I don't think this claim can be topped.  I don't know John Paul, but there should be some sort of limit on the hypocrisy of claims that are so far beyond the pale even a new trader should be able to spot the B.S.

This particular trading educator has posted that he has not had a losing week, or a losing month since 2008.  Adding up his earnings claims puts his tradings earning during the period at well over a million dollars, closer to 2 million.

But let's get back to that eight-year winning streak without even a losing week.  I've been trading for 22 years at the institutional level on the NYSE, and a couple of years on the CME and can state unequivocally the God himself could not put together a winning streak of that caliber.  But Mr. Paul claims to have done just that.  No losing weeks for eight years.

Let me state that a drawdown in your futures account balance is an unpleasant fact of life for every e-mini trader that has ever entered a trade.  They are frustrating and downright maddening, but the market often changes its mode of operation and you, as a trader, must make adjustments in your trading to compensate for the change in market price action.  Usually,  the adjustment in your trading requires some hit-or-miss kind of trading that can lead to days that are less-than-perfect.  Before long, most of us adjust to market conditions and continue on.  But there are generally times where you will have some losing days which generally equate with a losing week.

Further, traders are a lot like athletes in that there are certain times you can't hit your butt with your own hands.  Michael Jordan once went 1basket in 22 attempts.  Some days you have it, and occasionally you don't have it.  It's all part of the dance.

But to claim 8 years of near perfect trading would require abilities that are far in excess of mine or anyone else I know.  Many of my friends I met in the trading business and have 24-30 years of successful trading experience.  Not one of them has gone any length of time without a losing week.

I suppose claims like these should not surprise me.  But I have to wonder how his students must feel when they begin to realize that the whole 8 years streak was little more than a slick prank that parted them with a considerable of cash.  I don't mind if I pay for something and simply can't make the cut, but these new traders never had a chance to make the cut.  The whole sha-bang was a farce from the onset.  Be well, trade well, and best of luck in your trading endeavors.