Just went to BMT and saw a funny thread................. https://www.bigmiketrading.com/trading-journals/33372-mfbreakout-non-sense.html cant believe big mike banned the OP. I dont blame him at all for calling out that BS-er, who is apparently still up to the same crap as always LOLOL..... Wonder if BM ever raised the money to cover his legal fees?
mfbreakout is the "biggest" conman on the internet today. He is a predator. There should be an amber alert that goes off the second this guy puts out one of his fake highly edited trades 10 minutes after the fact. I can't believe he has the balls to keep the charade up this long.
Thank god others have caught onto this guy as well and I agree with the "biggest" conman point! All he needs to do next is sell product or education services (which I wouldn't doubt is already in the works since he would post his personal email for guys to send their charts so he can review them) and he is all set. In his old journal, almost every post is edited at some point with no reason given for why he is making the edits. Hard to believe he makes that many spelling errors. Believe it or not, people finally started catching onto his BS, not so much because of the edited posts, but due to the lack of a clear methodology or edge. When people would honestly question why he went long or short at a particular spot they would be given some hard to decipher convoluted answer. When they would ask for clarity, they would receive just more of the same. The answers DID manage to include all the necessary buzz words like macro this, micro that, rotational, reversion to the mean, etc. Finally, they were told something generic like "you have to find what works for you". Many started to realize that this guy has no edge, no method, and no plan. Instead he just makes it up as he goes along, but desperately tries to make it look like he knows what he is doing. Remember when you can go back and edit your posts at will, you can enter any method you want into why the setup was successful, all in hindsight of course...ACD, MP, mean reversion, an ever changing opening range, etc. I am all for trying out new things, but his charts are the "flavor of the month" variety where he will tout the use of tools that he is absolutely clueless about. His Tradestation "order flow" signals appear to have come and gone and now he is onto the arsenal of TOS indicators offered by Thinkscripter. If you question his party line, you will get the ignore button and his minions will come to his rescue. Just like the time he claimed to have some ridiculously low round trip commissions through Thinkorswim. When someone asked how he pays so low a rate they were told something along the lines of his commissions aren't important and how they should focus on themselves. One of the best points that a BMT member once brought up was why all the experienced and legit traders, who used to post in his journal all decided to leave. There was a handful of solid traders who once posted on a regular basis and all had a clear easy to understand method. Did they all catch on to MFBreakout's scam. The million dollar question is what is in it for MFBreakout? He closed down his first journal, but couldn't stay away from the forums. Is it the attention from unsuspecting newbies he is after? Does he think everyone believes that he gets all these PM'ed questions which he in turn shares his knowledge with the rest of the forum?
All I can figure is he must be mentally unhinged in some way. He's been running this game for years now, been caught in more embarrassing lies than anyone can keep track of yet still he continues. I can't figure it out, but something very "not right" about it in more ways than one. With all the edited posts and ridiculous claims, and all the CAPITALIZED words, and the (most likely faked) Q&A as if he's an advice columnist, it becomes comical after a while. From what I know he is in his 50's and lost his job several years ago, and decided to pursue trading. I don't know how he affords to keep doing this for years now since he's obviously not making money trading. There was some mention once of getting some money from a deceased relative so perhaps that's how he can still do this. Or perhaps he is getting some money from his followers. Who knows?
I can't believe you guys have a problem with mfb! He gets fills above the high tick and below the low tick because clearly he's part of the Dark Pool Club!
Indeed he does. One time on BMT he posted an entry in CL about 3 ticks higher than the peak. At that time I had the Rithmic feed, not IB, so I politely asked him to clarify as it 'looked like I had a problem with my feed'. He said nothing wrong with my feed, he sometimes rounds off rather than gives the exact number. Slick.
PT Barnum said there was a sucker born every minute and this is how MFBreakout keeps his gig going. At first, the veteran traders who have been around the game for some time now caught on and distanced themselves from him. Then others started noticing things and since they could never get a straight answer to a simple question, the moved on as well (for the honest few who are trying to learn something, they realized there was nothing to learn from the guy). So it is the fresh meat newbies that press the "thanks" button on his posts and follow his journal. I think the unhinged part is simply a never satisfied ego which craves attention that he is obviously not getting elsewhere in his life (most likely not from his trading). His arrogance, hubris and at times, outright rudeness is what really drives it over the edge for most and is what first struck me when he had his old journal.