Trade Like Chuck?

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Blue Collar Guy

Thinks s/he gets paid by the post
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Im flipping the channels, I see green arrows on the financial channel, so I pause to enjoy the moment. Commercial break, and I see an ad for "Trade Like Chuck". This guy is an 8 time winner of some stock finance contest. I cant even get an empty soda can in the garbage 8 times in a row. So anyone have experience with his teachings? I turned to my trusted friend Mr Google but didnt really see many reviews. A few rabid fans spouting phenomenal returns and a few haters.
 
Whenever I see these clowns, I ask why they are wanting to "sell their secret"? If it's truly THAT good, then they wouldn't want others to know. ;)
 
Blue Collar Guy said:
Im flipping the channels, I see green arrows on the financial channel, so I pause to enjoy the moment. Commercial break, and I see an ad for "Trade Like Chuck". This guy is an 8 time winner of some stock finance contest. I cant even get an empty soda can in the garbage 8 times in a row. So anyone have experience with his teachings? I turned to my trusted friend Mr Google but didnt really see many reviews. A few rabid fans spouting phenomenal returns and a few haters.
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Read A Random Walk Down Wall Street by Burton Malkiel and/or Winning the Loser's Game by Charles Ellis and you won't have to wonder about this stuff any more.
 
Blue Collar Guy said:
Shooter, would the answer be stick to my index funds?
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More or less, but both authors explain why the various trading schemes don't actually work over time. IMO it is actually pretty interesting stuff and will help you understand WHY a passive strategy is statistically the winner. The press and the internet is full of FUD spread by people with a financial interest in encouraging active investing, so a nice evenhanded discussion of the landscape can help one's confidence in a strategy.

If you want writing with a little more passion, try anything by Jack Bogle. For more mathematical treatments, try anything by William Bernstein. For a 16-page sample of Bernstein and a good reading list, download "If You Can" here: https://www.etf.com/docs/IfYouCan.pdf. It's aimed at younger people but the message is pretty timeless.
 
Instead of just spending time placing electronic trades, paying commissions, watching the stocks change price every 2 seconds, and trying to figure out when to sell them, why not go to the Aqueduct Racetrack in Queens and put the money on a nag? It's quicker and less work. Plus, you can have a beer and a good sandwich. ;)
 
You know if I could trade like that I'd love to hang with a guy named Buffet. I can't , and presumably his restraining order is still valid. [emoji4]

Save your time and money, nothing to see behind the curtain.
 
aja8888 said:
Instead of just spending time placing electronic trades, paying commissions, watching the stocks change price every 2 seconds, and trying to figure out when to sell them, why not go to the Aqueduct Racetrack in Queens and put the money on a nag? It's quicker and less work. Plus, you can have a beer and a good sandwich. ;)
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I went to the Woodward Memorial in 2015. I had a blast.:D. My son called me up and asked if I would like to join him and his friends. This was the first time I ever "hung out" with him and his friends. Everyone was nice to me, maybe because I wouldnt let them buy their own drinks :LOL:. I felt like they were all my kids.
 
Blue Collar Guy said:
I went to the Woodward Memorial in 2015. I had a blast.:D. My son called me up and asked if I would like to join him and his friends. This was the first time I ever "hung out" with him and his friends. Everyone was nice to me, maybe because I wouldnt let them buy their own drinks :LOL:. I felt like they were all my kids.
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Some of my best memories of being with my dad when I was a youngster were when we went to NYC to shop for eyeglasses (for my sister) and then go to the reactrack. We lived in Connecticut. I loved the Subway back then (a long time ago obviously).
 
My grandfather went to Aqueduct all the time back in the 60s. He took me with him a few times and I thoroughly enjoyed it.

Once I asked him how to pick a horse and he just said "Who do you know?"

That meant nothing to me so I pressed him for an explanation. His answer was "All races are fixed. You just have to know who's doing the fixing."

Somehow, horse racing lost a lot of its fascination for me after that. :nonono:
 
aja8888 said:
Some of my best memories of being with my dad when I was a youngster were when we went to NYC to shop for eyeglasses (for my sister) and then go to the reactrack. We lived in Connecticut. I loved the Subway back then (a long time ago obviously).
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Nice memory, ty for sharing it. When ever I hear about a horse race now I think back to my outing in 2015.:)
 
braumeister said:
My grandfather went to Aqueduct all the time back in the 60s. He took me with him a few times and I thoroughly enjoyed it.

Once I asked him how to pick a horse and he just said "Who do you know?"

That meant nothing to me so I pressed him for an explanation. His answer was "All races are fixed. You just have to know who's doing the fixing."

Somehow, horse racing lost a lot of its fascination for me after that. :nonono:
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I remember interviewing an old time organized crime fellow. He told me stories of how they used to blow cocaine up the horses noses at the race tracks in Mexico. The horse would win and then drop dead of a heart attack after the race. IDK if its true , but it wouldn't surprise me if it happened.
 
Probably this has been discussed before but it is my understanding that various momentum traders can make money if they have very strict entry requirements that have been back tested and strict exit rules that limit downside (loss). A guy who teaches traders by the name of Van Tharp talks about calculating expectancy of a back tested trading system and loss limiting as well.

I believe they trade lots of little losses for the occassional big winning run up.

For me I hope for a big winning run up among my buy and hold stuff.

I've read about turtle traders as well who did mostly commodities if I remember it correctly and were trend followers.

I also agree that most people trading short term on a home pc will lose out to computerized trading especially since they have data we usually don't have like level 2 info and a computer maybe setting next to the NYSE computer with much faster information. My trading or rebalancing if you prefer that term is on much longer time frames than the professionals seem to use.

I have traded options and s&p mini futures from home. I did make a little money on each but I felt the time, risk, and mental effort was not worth it. A trading method that would by math probability make a profit might require 20 losing trades in a row and take months of losing.

I ran across what I thought was a sure fire way to make money but sadly interest rates dropped. I was planning on funding my retirement by putting money into treasury ladders and using the cash cast off to buy long term call options on an index like sp500 or dow30. when I lost my net worth remained the same minus the coupon (interest). When I won, the cash bought more treasuries.

Since historically some years have been 30% winners I would have had a safe growing stash. No idea if this would have beat or lost to an index fund outright purchase. I do know my downside was more limited in bad years.
 
MRG said:
You know if I could trade like that I'd love to hang with a guy named Buffet. I can't , and presumably his restraining order is still valid. [emoji4]

Save your time and money, nothing to see behind the curtain.
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Me too. Jimmy :)
 
ExFlyBoy5 said:
Whenever I see these clowns, I ask why they are wanting to "sell their secret"? If it's truly THAT good, then they wouldn't want others to know. ;)
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Right. The bottom line is that if you know how to make money trading stocks, you don't need to run a school or hold seminars on the topic, just do it, get rich and retire.
 
I don't watch TV, so did not know about this Chuck guy. A lot of things happening on the street, I learn from this forum. :)
 
Ready-4-ER-at-14 said:
Probably this has been discussed before but it is my understanding that various momentum traders can make money if they have very strict entry requirements that have been back tested and strict exit rules that limit downside (loss). A guy who teaches traders by the name of Van Tharp talks about calculating expectancy of a back tested trading system and loss limiting as well.

I believe they trade lots of little losses for the occassional big winning run up.

For me I hope for a big winning run up among my buy and hold stuff.

I've read about turtle traders as well who did mostly commodities if I remember it correctly and were trend followers.

I also agree that most people trading short term on a home pc will lose out to computerized trading especially since they have data we usually don't have like level 2 info and a computer maybe setting next to the NYSE computer with much faster information. My trading or rebalancing if you prefer that term is on much longer time frames than the professionals seem to use.

I have traded options and s&p mini futures from home. I did make a little money on each but I felt the time, risk, and mental effort was not worth it. A trading method that would by math probability make a profit might require 20 losing trades in a row and take months of losing.

I ran across what I thought was a sure fire way to make money but sadly interest rates dropped. I was planning on funding my retirement by putting money into treasury ladders and using the cash cast off to buy long term call options on an index like sp500 or dow30. when I lost my net worth remained the same minus the coupon (interest). When I won, the cash bought more treasuries.

Since historically some years have been 30% winners I would have had a safe growing stash. No idea if this would have beat or lost to an index fund outright purchase. I do know my downside was more limited in bad years.
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Thank you for an in depth answer on the topic. The whole momentum thing I have heard of in passing, I wouldnt be able to comprehend it. I would probably hit upon the mini losses in a row before I got the big hit.
 
NW-Bound said:
I don't watch TV, so did not know about this Chuck guy. A lot of things happening on the street, I learn from this forum. :)
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My TV, that is in the living room over my fire place is on 24/7 . I would say 90 % of the time its on the ID channel with some murder show. The last tv we got as a house warming gift died in less than 2 years. I took a 5 year extended warranty with this one. That means this one will last 5 years and 1 day:LOL::LOL:.
 
We only watch TV when we are up in our high-country home where we have no Internet access, and I need to watch TV to know if a zombie breakout occurs in the world.

At my main home, the Direct TV antenna connection broke 2 years ago, and I have not bothered to repair it. And as I have no OTA antenna, that means no TV at all. And I do not have any streaming subscription.

PS. Anyway, all that advertisement about stock trading sounds like a repeat of the stock boom 20 years ago. I need to watch the market and know what the masses are doing. A bit of déjà vu here?
 
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Blue Collar Guy said:
This guy is an 8 time winner of some stock finance contest.
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I came across some site that had stock trading contests. It was interesting to look at the high-fliers. Most of the time, they were basically bets on penny stocks or similar. Also, you could look at the persons name, and then their assorted 'entries' into the contest. You may find that the 'winning' portfolio was some penny stock that went up by a huge multiple, yet the contestant had another 100 portfolios that all went worthless.

Sort of like playing funny money on-line poker. The fact that I have won several tournaments means nothing, because it is funny money, and we don't count all of the times that I went bust.
 
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