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"Here's all you need to know about Franz - go against the intermediate trend of the day and keep averaging. Most days the market will in fact retrace. And he's right for the most part. When you do catch a trending day however, you better have an account that can stomach loss after loss after loss. And I mean serious losses"
I'll tell you what, there have been an unusual amount of extreme closes this year, especially lately. Wonder how Franz and co have fared with an intraday mean reversion style in the extreme volatility we've seen lately. I would think not so good. |
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bh - I still get emails from Franz and it's just funny. I mean, look at his site. Looks like a template and go site. His performance thing is a joke - some unformatted, rambling PDF.
Guys like Franz would be out of business if the CFTC and NFA would actually take action against people like this.
One other thing Abe - when I last saw his trading, it was still ALL on a SIMULATOR.
What's that tell you? He can't trade live money in his own room?
HELLO
RED FLAG.
He'll give you some elaborate BS excuse why you can't see his real Xtrader DOM or something, but it's all part of the plan. I can't even begin to tell you all the BS he would feed us in the TI room - he was making $100k+ per day, trading such huge lots that the pit was aware of him, he had to call in his trades to Goldman or Bear Stearns sometimes.... You get caught up and think WOW... And then reality hits shortly after and you realize this guy is a joke and can't trade for anything. He could not make money trading if his life depended on it.