I’ve mentioned the universe of price action sellers before on this website. Today I’m going to revisit the subject because something very funny just happened. Someone sent me this article by Chris Capre, one of the high priests of price action sellers, 5 Reasons Why Hedge Funds Aren’t Trading Confirmation Price Action Signals where he frontally attacks the Pope himself, Nial Fuller. Now, that’s what I call real entertainment.
First let’s start with some details on who the combatants are:
- Nial Fuller is one of the more obnoxious internet marketers out there masquerading as professional traders. I haven’t written about Nial before because he provokes me a gag reflex and I’m afraid I’m just going to puke all over my laptop. But here’s a good review of him and the kind of shenanigans he’s up to: Learn To Trade The Market Review
- Chris Capre has been selling price action related stuff for more than five years. I think he came on the scene at just about the same time as Fuller. While not as offensive, Capre has his fair share of skeletons in the closet. For starters, he doesn’t have any track-record. Then he mentions he’s a fund manager at KronoxFX, yet no verifiable performance records of that exist either. Then there’s this strange thing of him boasting to be a philanthropist (donating over 10% of net revenues each year). Why would you even mention that ? And if you do mention it, why not bring some actual proof ? Hey, it takes me 3 minutes to make a page and list ten charities to which I can pretend that I donate. He seems to be into religion, Buddhism. Well, if I remember correctly, in the Bible the showing off is frowned upon. There are more skeletons, but I think these suffice for now.
Ok, with the above being said, let’s analyze the article. It’s a wonderful mix of truth, self promotion, bashing a competitor and unverified, unprofessional claims. The first part, where he tears into Nial Fuller and his fakey pin bars bullshit, is true and the most funny part of the article. Conjecturing about what the hedge-funds and prop trading firms might or might not be doing is unwarranted in my opinion, save for the obvious that they’re not into Fuller’s BS.
Under Reason #3 paragraph we find this gem:
I’ve made over 20% in the last few months using your methods. I’m glad you poked giant holes in his price action strategies.
Otherwise I’d still be waiting for pin bars and inside bars, missing hundreds of pips.“
How’s that for unverified testimonial and kicking a competitor, all in one ? . Presenting a return without any mention of the risk taken to achieve it, is worse than worthless. Actually, it’s just bait for prospective customers.
I hope Nial Fuller won’t back into a corner and let this blow over, but charge back at Capre. I’m out to get some popcorn.
I found another gem in the comments section of the above article:
FYI – I’m happy to put my top students numbers against anyone else from the pin bar + inside bar + engulfing bar camp and see who wins that one. I’m confident my top student (who also works a 9-5 job) will trump the top student from any of those other camps.
So we now have not only the battle of the giants, but the battle of their students as well. Here’s a tip for you Mr. Capre: if you’re so tough and mighty, why don’t you post your own numbers ? But please don’t insult our intelligence by posting excel tables or photos. Third-party verified performance only.
Related article: The Live Price Action Confidence Trick