Story Behind My Website

This website came about by accident.

You see I didn’t set out to educate traders.

Let me tell you the story behind how a private trader came to put up a website that would in time become one of the better respected sites within the trading community

You see not many trading educators do as I do since they flat out don’t trade.

In the late 90’s I was a member of one of the most popular Australian trading forums. From memory there were over 2,000 members, which today may not sound like many, but back then was quite a lot. However most of the members never posted. I was one of only 5 or 6 traders who posted live trades with the analysis behind it. So the majority of members were voyeurs watching the few of us trade. It was good fun and a valuable chat room with no BS for those wishing to watch and learn.

I didn’t have a web site then.

I was a private trader doing my own thing.

I was a private trader who from time to time would share some of his live trades on a popular forum.

As you can image us few traders were critical of the many so called “experts” in the trading education field and the banter and criticism was colourful and entertaining.

And at the time the majority of our colourful criticism was leveled at a particular Australian trader education business specializing in W.D Gann. They offered courses ranging from $1,500 to $20,000. At the time they boasted they had successfully taught over 20,000 people to trade.

Certainly at the time in the late 90’s they were giving trading “education” a bad name amongst experienced traders.

Well at that time an ex-employee of theirs left the business and subsequently joined our trading forum.

In the beginning he was well behaved posting harmless comments.

And then he posted an example of an archaic left of field tool discussing how useful it could be to a trader.

Well, that was like a red flag to a bull and I reproached him for introducing an unproven and subjective idea on a “traders” forum. I suggested the only reason why he would post a non-trading chart was to help promote himself and his new trading course that he had recently launched.

I said words to the effect that he was just trawling for business.

I said words to the effect that he was promoting false ideas and was taking advantage of new private traders.

I then declared that I would go off to the Australian Securities and Investment Commission, get myself licensed, set up a website, make available a simple mechanical model (SpiTrader, which I later renamed IndexTrader), trade it with real money in real markets and make my real time results available.

I said I would demonstrate how a real trading educator should educate, and that was by demonstrating that they actually traded what they taught/sold/promoted.

I also told the ex-employee that I would not reply to any of his posts on the forum as I knew he would only make me look foolish with his smooth and clever words. This ex-employee was a superb wordsmith – one I didn’t want get into a slanging match with.

That all happened in the late 90s.

Well I did what I said I would.

I got myself licensed (which isn’t easy).

I learnt how to build a website in Microsoft’s Front Page.

I put the web siteup on the internet.

I made available (for a price) a simple mechanical model.

I released SpiTrader to the public in 2001 and renamed it IndexTrader in 2003.

So I finally achieved what I said I would in 2001.

I traded my simple mechanical model with real money in real markets.

I made my real time results available.

I demonstrated how I thought someone should go about educating traders, by demonstrating that they actually trade what they taught/sold/promoted.

That was a long time ago.

And guess what?

I still trade that same simple mechanical model in real markets with real money as part of my newsletter IndexALERT.

And to my knowledge, I’m one of very few traders who educate who can demonstrate that they actually trade what they teach/sell/promote.

I’ve helped restore credibility and integrity to trading education through 100% transparency.

And since I originally put up my website I have maintained my philosophy behind why I did it.

And that is 100% transparency.

I personally trade everything that is available off my web site.

And very, very few other owners of trading web sites can say the same.

If people choose to select a newsletter or model off my website they can elect, if they choose to, to be able to watch the vendor (me) personally trade what they have selected/purchased, whether it be one of my models via a Daily Study Guide or newsletter.

You see, I’m very unusual in this business of trading education.

People can actually watch me personally trade everything I make available off my site.

They can see my fills. They can see my loses. They can see my wins.

And this all started because I took exception to a self serving gentleman who at the time was an ex-employee of a particular Australian trader education business.

Successful Money Management

Picture of Brent Penfold

Brent Penfold

Futures Trader & Advisor
Director, Brent Penfold Futures Pty Ltd.