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Old 04-02-2008, 07:03 PM
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Default Trading perspective from a Hedge Fund Manager Part 2/5

PART 2/5

by Kevin Teeple


Four years in the U.S. Navy followed by four years of staying afloat in college that I finally got around to asking myself the really important questions in life; such as, what do you really want to do with your life Kevin? All I knew for sure was that I wanted to learn about investing and I wanted to learn how to make millions of dollars in the stock market; but I wasn’t sure where to start at. The experts all told me that the best thing for me to do was put my money in mutual funds and forget about it; you know, “invest for the long term, rule of 72, diversify, etc.” I thought that these experts had to know far more about investing than I did to understand all those complicated quarterly financial reports, graphs and charts. I was obsessed with watching the financial channels and reading the Wall Street Journal, but embarrassingly enough, I still found it all very confusing if not overwhelming. I wasn’t sure what was real; what was hype; and what was even essential at all, when it came to making money in the stock market.
“It's a mystery wrapped in a riddle inside an enigma!”
Winston Churchill

As part of my self prescribed self-help cocktail back in the early nineties, I found myself on the edge of my seat in a Landmark Forum seminar. Three days of pure enlightenment followed by acute cerebral cramping. Just when I actually thought that I was learning something, the Forum Leader told the group that, “You don’t know, what you don’t know, you don’t know.” What the hell does that suppose to mean I thought to myself? Well, it wasn’t till much later that, I Got It!

I read literally hundreds of trading books word for word, page by page, expert to acclaimed monarch expert; completed countless tape programs and video courses all promising to teach me the secrets of the professional traders. My fifth grade math teacher, Mrs. Hayes, would have been so proud of my scholastic prowess, so proud indeed that she surely would have placed a Silver Star on my shirt; the star she somehow neglected to give me years back.

As my understanding of trading and investing grew stronger, I went on to pay $4995.00 to attend an exclusive trader’s symposium, that’s right, a symposium this time and not one of those run of the mill seminars that the amateurs attended. We were taught the in-depth, complex, and sophisticated analysis of what to buy, where to buy, and how to buy stocks, bonds, options, and spreads. These events included large binders filled with colored charts, confusing graphs, and expert trading tips. This particular symposium included a limited time only, one on one coaching call to keep us motivated after the symposium. I guess there must have been about three hundred of us attending this particular symposium; small, compared to the last one that I attended in Los Angeles, must of been a thousand in attendance there.

What was the end result of all this training? Well, I had finally arrived. I was in-the-know. I was college educated, well informed, and up to date with the most sophisticated trading techniques being taught anywhere, and I was ready to make my millions. Detailed trading plan at my side, complete with my most desired objectives, deadlines for reaching those objectives and a daily to do list. My confidence was at an all time high - I was ready to enter the stock market.

“Just as the U.S. Marine corp. separates the men from the boys; the stock market decapitates the overly confident, from the competent.” - Kevin Teeple

I precisely followed each and every “how to,” taught in these seminars, books, and tape programs, I analyzed an ocean of fundamental data with a fine tooth comb just I was taught. Considered price and demand, with all the associated underlying factors I could read about, just as they taught me to do. I bought on triple tops, sold when it dropped below this or that converging moving average, shorted the dogs of the Dow, hedged with spiders, diversified with ETF’s, used Elliott Wave, MACD, Bollinger bands, P/E ratios, advanced statistical regression models, ratio filtering, economic logic projection; and, after all this can you imagine the millions of dollars that I made? Nada, zilch, zero. I ended up with a net loss as the reality of the stock market collided with my market forecast - and it was unscathed.

In fact, my first real trade after paper trading several months resulted in me losing about $5,000.00 in less than 10 minutes; that was 100% of what I had invested at that time; my second and third trades? Well, Christ himself has not forgiven me for that, and therefore I am not at liberty to discuss it.
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