The concept for the Truth of the Mkt School was initially formed on Oct 28, 2001. This date is important because two brothers, Albert and Gerald, came together for the 1st time in quite a number of years. They had not seen or spoken for a number of years due to personal differences. However they came together on this date because of the funeral for Gerald’s wife.
After the funeral, Albert and Gerald, spent some time sharing stories about what had been happening in their life for the past few years. This conversation brought up the fact that both of them were very active in the field of Trading.
Gerald had been very active in trading the OEX since 1983, and Albert had been very active in trading stocks since 1989. However, during the conversation they learned there were some very unique differences in their trading styles other than the different products they were trading.
Gerald was trading the OEX without the aid of a computer, and accomplished this feat by looking up the close price for the DOW, from the New York Times, and plotting this value on graph paper. Also, he was using something Albert had not heard, which was called the Fibonacci Theory.
Albert was using all the latest computer equipment, along with all the advanced technical indicators in use by traders at that time, such as: Bollinger Bands, MACD and MACD Histograms, Stochastic (Slow & Fast), Exponential & Simple Moving Averages, and Volume & Relative Strength Index.
Gerald asked Albert what he used to project price targets and time targets for a stock. Well, this question couldn’t be answered by Albert because his procedure was to simply watch each stock on a daily basis and wait for his impressive computer generated technical indicators to give him a signal to get out of the trade. Albert never knew what the probable profit would be on a trade in advance nor the time it would take to get to that price. He simply wanted to keep from losing money on the trade.
Gerald then shared with Albert that the Fibonacci Theory could be used to determine a Target Price, as well as a Target Time. The Target Time provided the number of days it would take for the stock to get to that Target Price, with a very low Probability of Error.
This was unheard of for Albert and he couldn’t believe it initially. However, after a number of very difficult months using The Fibonacci Theory, to determine the probable Time for a stock to get to a probable Price, Albert eventually became a Believer.
The two brothers continued to work on the development of the system. The concept of the Elliot Wave Theory was added along with the concept of the Chaos Theory. The Chaos Theory gave the brothers the probability of knowing where an Elliot Wave starts and where an Elliot Wave ends.
They also added the APMM (Auto Pilot Money Management) system that is designed to free up a trader from having to watch their stocks on the computer screen every day.
- The APMM automatically terminates the trade at the probable price for the Profit Exit or the selected price for the 2% Loss Exit. This system can stay active for a predetermined amount of time (based on the brokerage company).
Gerald had received a revelation that the trading system was to be closely associated with a Christian Church. Albert listened to the idea but he seemed to favor the concept of a Christian Internet Ministry (FOUNDATION OF TRUTH MINISTRY) that would be funded by a portion of the Trading Rewards from the Fishermen after they completed the Financial Literacy School now called the TRUTH OF THE MKT (TOTM) SCHOOL.
Gerald and Albert initially gave the system away to all the members of the Internet Ministry completely “FREE”.
They felt it was a gift to them so they wanted to give the system to people in the same manner that they had received the system.
- However, their hope and prayer to have students become actual traders never materialized, because they had less than 3% student participation. Therefore the expected Rewards from the students, that would be directed to the Ministry, never materialized.
They thought about writing a book and then sell it to obtain the funding for the Internet Ministry, but this idea was eventually dropped. Then a medical doctor, that was a friend of Alberts, said they had to establish some sort of value for the TOTM School. The doctor went on to say that people tend to not place much importance on something they receive for nothing.
Therefore, the brothers eventually developed a value or cost for the school, and when that was done the participation rate of the students in the school increased to over 80%.
- Ultimately, the tuition from the students (Future TOTM Fishermen) has been very successful in providing the financial support for the FOUNDATION OF TRUTH MINISTRY.
Today, the TOTM School has Future TOTM Fishermen and Active TOTM Fishermen throughout the United States.
Please go back to the TOTM SCHOOL Page to see how you can become a student (Future Fisherman) in the Financial Literacy/Money Management School called the TOTM SCHOOL.