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Market charlatans
There are quite a few bad trading authors/educators out there, I just wanted to point out a few who make more money off selling books, educational material, and subscriptions than actual trading.
Books by charlatans:
Trend Following (turtletrader.com) - Michael Covel
The Art of Contrarian Trading (carlfutia.blogspot.com) - Carl Futia
Mastering the Trade - John Carter
Anyone have any more authors to add?
Is Covel really a charlatan? I thought he was just a journalist who wrote about the Turtles. I looked at his book and it didn't look charlatanic.
Quote from billyjoerob:
Is Covel really a charlatan? I thought he was just a journalist who wrote about the Turtles. I looked at his book and it didn't look charlatanic.
Re: Market charlatans
I know they've sold a lot of copies and I have read it many times, but I probably lost more money trading off the Bible than any other book. The torah aint bad, but that NewTestament can really put you in a bad drawdown. Especially the part about "It is better to give than receive."
Quote from MarketOwl:
There are quite a few bad trading authors/educators out there, I just wanted to point out a few who make more money off selling books, educational material, and subscriptions than actual trading.
Books by charlatans:
Trend Following (turtletrader.com) - Michael Covel
The Art of Contrarian Trading (carlfutia.blogspot.com) - Carl Futia
Mastering the Trade - John Carter
Anyone have any more authors to add?
Quote from MarketOwl:
He was a failed Turtle Trader, and is now selling the turtle trader system which is just a 20 day or 40 day breakout system on DVD for $2997.
__________________
Free your mind
He really is a charlatan. The proof of his scam is right on his website.
Quote from billyjoerob:
Is Covel really a charlatan? I thought he was just a journalist who wrote about the Turtles. I looked at his book and it didn't look charlatanic.
Re: Market charlatans
Quote from MarketOwl:
There are quite a few bad trading authors/educators out there, I just wanted to point out a few who make more money off selling books, educational material, and subscriptions than actual trading.
Books by charlatans:
Trend Following (turtletrader.com) - Michael Covel
The Art of Contrarian Trading (carlfutia.blogspot.com) - Carl Futia
Mastering the Trade - John Carter
Anyone have any more authors to add?
They all snake oil sellers.
Anyone who sells systems, courses, websites, chat rooms, software, books etc.
Trading is quite an easy subject to talk about and write about, but its one of the hardest thing to do.
The easy and sure money is in selling spades and shovels, not in prospecting for gold.
I see the Al Brooks house thread has disappeared.
guess we need a new place to bitch about vendors.
The problem with most educators...
is that they often disguise hindsight analysis as actual real live execution
the same can be said for most internet forum gurus too
so followers of these people are given a grossly innaccurate impression of what kind of results they can expect if they follow the gurus advice
Quote from MarketOwl:
He was a failed Turtle Trader, and is now selling the turtle trader system which is just a 20 day or 40 day breakout system on DVD for $2997.
Quote from marketsurfer:
Covel never was a turtle. Why do you think so and why do you think he failed?
Quote from slumdog:
They all snake oil sellers.
Anyone who sells systems, courses, websites, chat rooms, software, books etc.
Trading is quite an easy subject to talk about and write about, but its one of the hardest thing to do.
The easy and sure money is in selling spades and shovels, not in prospecting for gold.
I remember there was a journal thread on another forum (BM) that went on for over a year.
It was a popular journal, and the OP was posting to it regularly, documenting her attempt to learn to day trade
after a year she was not succcessful, so closed the thread saying she was going to pursue a business venture
several months later it came to light that she was selling a trading system and giving webinars
trying to make it in the guru business
I couldnt believe it....... 
I bet this is how almost all educators find their way into selling stuff.
Maybe because he went out of his way to imply that he had something to do with the turtles.
Quote from marketsurfer:
Covel never was a turtle. Why do you think so and why do you think he failed?
Re: Market charlatans
These books are full of half truths are in my opinion are no better than complete lies.
Quote from MarketOwl:
There are quite a few bad trading authors/educators out there, I just wanted to point out a few who make more money off selling books, educational material, and subscriptions than actual trading.
Books by charlatans:
Trend Following (turtletrader.com) - Michael Covel
The Art of Contrarian Trading (carlfutia.blogspot.com) - Carl Futia
Mastering the Trade - John Carter
Anyone have any more authors to add?
I am surprised this thread has been allowed to survive - so far. Presumably neither Baron nor Covel himself has noticed it yet. Let's see if it is still here in a couple of days.
__________________
Anthony FJ Garner, Traders' Place
more or less but without a track record and profits to actually look like a tight business operation, they just embarrass themselves and its our duty to mock and shame them.
Quote from Ol' Yella:
I remember there was a journal thread on another forum (BM) that went on for over a year.
It was a popular journal, and the OP was posting to it regularly, documenting her attempt to learn to day trade
after a year she was not succcessful, so closed the thread saying she was going to pursue a business venture
several months later it came to light that she was selling a trading system and giving webinars
trying to make it in the guru business
I couldnt believe it.......
I bet this is how almost all educators find their way into selling stuff.
Presumably Covel and Baron have had a fall out? I see he has not posted this month.
__________________
Anthony FJ Garner, Traders' Place
Amazing how much or a small world it is in here !
Quote from traitor786:
Amazing how much or a small world it is in here !
__________________
Anthony FJ Garner, Traders' Place
Buy gold,charlatans!It`s time to buy gold!
I bought a book last week for $75 and here are some nuggets. This book has really helped me trade.
I would have spent $750 for this book, EASY
"Once the market fails at resistance, add to your short and put a stop about the day's high"
"After the low of the day is made, buy and put a stop under the low"
"Sell resistance, especially when it is a yearly high and the market fails to get above this level."
"never let a winner turn into a loser."
"add to winners, and cover right before the day's extreme is made."
this stuff should be secret code, locked in a vault.
some of you will get this (most), but I have a feeling one will not.
LOL
I don't get it
Quote from BlueTurtle:
I bought a book last week for $75 and here are some nuggets. This book has really helped me trade.
I would have spent $750 for this book, EASY
"Once the market fails at resistance, add to your short and put a stop about the day's high"
"After the low of the day is made, buy and put a stop under the low"
"Sell resistance, especially when it is a yearly high and the market fails to get above this level."
"never let a winner turn into a loser."
"add to winners, and cover right before the day's extreme is made."
this stuff should be secret code, locked in a vault.
some of you will get this (most), but I have a feeling one will not.
LOL
There are so many crappy trading books out there, because those that really know about trading don't reveal their know how. The best books on trading are the old ones, Reminiscences of a Stock Operator, Stock Market Psychology, Speculation as a Fine Art. All those books are over 90 years old. The only recent good trading books was The Market Wizards series but most of the interviewees only revealed some of their knowledge, probably the least valuable.
And those that just make a living selling trading education are the vast majority and UsELESS. Most of them push technical analysis, which for the most part doesn't work. And most of these trading education vendors don't have the expertise to do deep fundamental research, the most useful form of analysis.
if it's so secret why are you telling it? Let me guess you're another guy who hasn't made shit in the market and is trying to sound smart or pump yourself up into believing you will make money. Show us what your lifestyle and how this "advice" has worked for you.
Quote from BlueTurtle:
I bought a book last week for $75 and here are some nuggets. This book has really helped me trade.
I would have spent $750 for this book, EASY
"Once the market fails at resistance, add to your short and put a stop about the day's high"
"After the low of the day is made, buy and put a stop under the low"
"Sell resistance, especially when it is a yearly high and the market fails to get above this level."
"never let a winner turn into a loser."
"add to winners, and cover right before the day's extreme is made."
this stuff should be secret code, locked in a vault.
some of you will get this (most), but I have a feeling one will not.
LOL
Quote from SeventhCereal:
if it's so secret why are you telling it? Let me guess you're another guy who hasn't made shit in the market and is trying to sound smart or pump yourself up into believing you will make money. Show us what your lifestyle and how this "advice" has worked for you.
If only he were joking. I've been in the business for a while now, you see his type often enough to know he is not. most of these guys are just beginners trying to hype themselves up and believe they can flip the few thousand they have into a few more thousand.
Quote from failed_trad3r:
hes joking lol
if you look at the advice given it makes no sense.
for example
"never let a winner turn into a loser."
lol how do you know what is a winner. magic?
I think they have pills now for people like you
Quote from SeventhCereal:
If only he were joking. I've been in the business for a while now, you see his type often enough to know he is not. most of these guys are just beginners trying to hype themselves up and believe they can flip the few thousand they have into a few more thousand.
you are a washed up old man, show everyone here what you've accomplished in life before anyone should take you seriously. you have no excuse. just don't tell me you are living in a 400k house, drive a prius, on a reverse mortgage, gambling your retirement savings away.
And FYI I have never lied on here. Just stated the often painful truth.
Quote from oldtime:
I think they have pills now for people like you
not sure in your case it will hlep
but just like bullying
pathologically lying is a serious health threat
the first step is to admit you have a problem
I've been in the business for a while now
and you're not the first one I've seen
good luck in your recovery
Quote from kut2k2:
One of the links in his $3K trend following course is labeled "Performance".
$500/mo apartment, I can walk to the grocery store, and 9 fast food restaurants if I ever wanted to plus Kmart and the CVS. When Mom got too old to drive I took her 1996 Saturn and gave my 1992 Subaru to my son in law.
Quote from SeventhCereal:
you are a washed up old man, show everyone here what you've accomplished in life before anyone should take you seriously. you have no excuse. just don't tell me you are living in a 400k house, drive a prius, on a reverse mortgage, gambling your retirement savings away.
And FYI I have never lied on here. Just stated the often painfutruth.
Quote from oldtime:
$500/mo apartment, I can walk to the grocery store, and 9 fast food restaurants if I ever wanted to plus Kmart and the CVS. When Mom got too old to drive I took her 1996 Saturn and gave my 1992 Subaru to my son in law.
I just love hearing you tell us stories about how you are "in the business."
Anyone who wants to know how to follow trends can find out by buying a back testing engine which comes loaded with pre programmed trend following systems. On my own website I have given under the "documents" section a paper on Global Systematic Macro which sets out the trend following strategy in great detail. It should not take the determined "googler" too long to find me.
__________________
Anthony FJ Garner, Traders' Place
no one cares about you or your bullshit score, you aren't making money.
Quote from schuler:
Hahaha....you cracked me up olddie.
oldtime: 1
SeventhCereal: 0
cheers
I care
Quote from SeventhCereal:
no one cares about you or your bullshit score, you aren't making money.
worry about yourself bud, I'm not an old man living off of momz. I'm 100% real, I challenge you to find a case where I lied. Stop making stuff up.
Again, you're an old man you've played your hand, you show everyone here what you accomplished in life.
Quote from oldtime:
I care
and I care about you
and hope you get the help you need
lying can be a real bitch of a habit to kick
yes, I try to insprire young traders, keep at it, and don't screw up too bad and there may come a time when you no longer have to work for a living
Quote from SeventhCereal:
worry about yourself bud, I'm not an old man living off of momz. I'm 100% real, I challenge you to find a case where I lied. Stop making stuff up.
Again, you're an old man you've played your hand, you show everyone here what you accomplished in life.
Quote from AFJ Garner:
I find there is very rarely anything said of value here. And as you will know, I am not a believer in anonymity!
Quote from BlueTurtle:
I bought a book last week for $75 and here are some nuggets. This book has really helped me trade.
I would have spent $750 for this book, EASY
"Once the market fails at resistance, add to your short and put a stop about the day's high"
"After the low of the day is made, buy and put a stop under the low"
"Sell resistance, especially when it is a yearly high and the market fails to get above this level."
"never let a winner turn into a loser."
"add to winners, and cover right before the day's extreme is made."
this stuff should be secret code, locked in a vault.
some of you will get this (most), but I have a feeling one will not.
LOL
Quote from SeventhCereal:
no one cares about you or your bullshit score, you aren't making money.
Quote from oldtime:
If you like new shiny bright things, you are always going to be wanting.
[QUOTE]Quote from traitor786:
Personally, Im thinking of painting my vehicle flat black I hate shiny things ! Im just hesitant because flat black seems like it has no clear coat and its non reflective property imply s that aerodynamics may go down the drain. It seems dumb, but such a drag over a a large surface can be disastrous.
If you look at a wing of a plane, the only reason it takes of is because of a simple aerodynamic idea but over a large wing span it can lift a plane !
Old time 2,
other guy 1
me, -17
PS Stop Charlatan bashing ! It's discriminatory. [/QUOTEI've owned a lot of trucks, black is my favorite, but very hard to keep clean, and hot, hot hot out in the desert. Flat black came on the scene about 10 years ago, especialy when more and more components were being made out of fibre glass (or carbon fiber).
Burgundy or some kind of red wine is the way to go. Even when it's dirty it looks clean.
Quote from oldtime:
[QUOTE]Quote from traitor786:
Personally, Im thinking of painting my vehicle flat black I hate shiny things ! Im just hesitant because flat black seems like it has no clear coat and its non reflective property imply s that aerodynamics may go down the drain. It seems dumb, but such a drag over a a large surface can be disastrous.
If you look at a wing of a plane, the only reason it takes of is because of a simple aerodynamic idea but over a large wing span it can lift a plane !
Old time 2,
other guy 1
me, -17
PS Stop Charlatan bashing ! It's discriminatory. [/QUOTEI've owned a lot of trucks, black is my favorite, but very hard to keep clean, and hot, hot hot out in the desert. Flat black came on the scene about 10 years ago, especialy when more and more components were being made out of fibre glass (or carbon fiber).
Burgundy or some kind of red wine is the way to go. Even when it's dirty it looks clean.
I'm not much of a car guy, I don't know the makes and models or anything about it, but I lived out in the Gay Bay when the movie "American Graffiti" came out, and you would see that old burgundy car in the movie parked or driving down the road in San Rafael all the time.
Quote from traitor786:
You take me back to my Cadillac days I think burgundy days are done, maybe id drop by to pick you up and fly to the dessert one day but I fear my toys are not made to be functional, they are more to make one feel like it is overly functional. Then again it does not take much to roll a beast down a flat road.
http://chromeshopmafia.com/monthly_...5_peterbilt_379
here's an example of a black flat matte Pete
keep in mind
those straight pipes will get you in trouble in Colorado if you flip on the Jake going down the big hill
Great now the "other guy" concludes that you live on a hill lol.
I use to live on the top of the hill, best and only flat piece of land in the county.
Quote from traitor786:
Great now the "other guy" concludes that you live on a hill lol.
No shoe for you I guess.
Re: Re: Market charlatans
Quote from SeventhCereal:
These books are full of half truths are in my opinion are no better than complete lies.
Quote from Ol' Yella:
I remember there was a journal thread on another forum (BM) that went on for over a year.
It was a popular journal, and the OP was posting to it regularly, documenting her attempt to learn to day trade
after a year she was not succcessful, so closed the thread saying she was going to pursue a business venture
several months later it came to light that she was selling a trading system and giving webinars
trying to make it in the guru business
I couldnt believe it.......
I bet this is how almost all educators find their way into selling stuff.
Quote from usrx201:
Here it is:
http://www.bigmiketrading.com/vendo...com-review.html
http://www.bigmiketrading.com/tradi...html#post121755
http://www.bigmiketrading.com/vendo...e-wgreenie.html
http://www.ezcolortrading.com/
Quote from goodvintage:
Thanks for that. One more evidence that the BMT forum is just one gigantic garbage generator. And to think that he banned me for "posting BS". Never got banned from any forum but only there. Should have known better I guess.
This takes the cake:
http://www.ezcolortrading.com/partners.html
scroll down to what she calls 'outdoor advertising' -- she seems to be proud of the fact that she plastered telephone poles with her business name.
Quote from Brighton:
This takes the cake:
http://www.ezcolortrading.com/partners.html
scroll down to what she calls 'outdoor advertising' -- she seems to be proud of the fact that she plastered telephone poles with her business name.
Clearly, the ultimate in professionalism, especially when one resorts to these methods of advertising:
Jack Hershey?
LOL that's her --- she's worse than a used car salesman..... at least they sell you something that works
Don't know how any one can defend her, unless they are vendors themselves.
But she's not alone.....
Check out this thread
http://www.bigmiketrading.com/forex...g-strategy.html
Now the same CJ Booth clown has started a service:
http://www.tradeeurofx.com/
http://www.bigmiketrading.com/vendo...rles-booth.html
(he won a BMT contest and he looks nothing like the guy on his webpage - LOL)
He was already a scammer anyway because once he got enough people interested in his BMT thread, he started selling indicators right there in the forum. And Mike, the guy who's so tough on vendors, didn't ban him for it!
No one became profitable with his method in the forum, and he disappeared. The one guy Bobby who claimed to be doing ok with it, ended up blowing out an account and then said he came up with a better version of it that he was going to try and sell.
And just to prove what a joke this is--- check this out
http://www.bigmiketrading.com/forex...rategy-104.html
Using the trade results he gave for his 6E scalping method...
a 77% win rate with a profit factor of 7
avg win: 18.9 --- avg loss: 9.5
BULLSH*T !!
Quote from Equalizer:
LMAO !
Quote from NoDoji:
Oh yeah, the advertising was mind-blowing.
But how about this:
"For example, she spent hours in reading a 250-page thread just to better understand an indicator that caught her eyes. During her pursuit, she had a stress attack. Her doctor had recommended her to take a break."
Aaaaaaaaahhh, the professionalism
Re: Market charlatans
Quote from MarketOwl:
There are quite a few bad trading authors/educators out there, I just wanted to point out a few who make more money off selling books, educational material, and subscriptions than actual trading.
Books by charlatans:
Trend Following (turtletrader.com) - Michael Covel
The Art of Contrarian Trading (carlfutia.blogspot.com) - Carl Futia
Mastering the Trade - John Carter
Anyone have any more authors to add?
Re: Re: Market charlatans
Quote from dealmaker:
Using the same analogy to traders as was used analyzing classical musicians in the book "Outliers" by Malcolm Gladwell i.e.
top tier musicians - soloist
2nd tier musicians - symphony orchestra members
3rd tier musicians - music teachers
thus if we use the same analogy to traders
top tier traders - hedge fund partners, bank prop desks and CTAs
2nd tier traders - trading own and perhaps friends & family money
3rd tier traders - teaching noobs to supplement trading income
Imagine if you went to David Tepper or any other top trader and asked him/them to teach noobs for a small fee, I have no doubt
he will kick you out of his office quicker than you can say David.
Re: Re: Re: Market charlatans
Quote from jack hershey:
I hope everyone believes you.
I mentor for free locally.
My goal is to "take".
The capital I take out of Wall Street goes to Main Street to help solve local problems.
Why can't the your top tier people do this? They can't afford to.
Now give some thought to violin inventors and piano inventors.
Then think about the folks who wrote the music.
Do you know how minds are built?
Purposeful practice in a specific filed. There is no chance you could mentor anyone simply because you could not tell them what and why to practice anything.
Dealmaking is the bullshit of the FI.
Re: Re: Re: Re: Market charlatans
Quote from dealmaker:
My post addresses those who generate income from teaching not those who do it as community service. Top pros don't teach for the same reason soloist does not i.e. by charitable donations ( soloist by creating music) they reach much broader audience than teaching 10, 100 or even 1000 guys how to trade 10 hours a week.
As for dealmaking comment, HAHAHA!
Re: Re: Re: Re: Re: Market charlatans
Quote from jack hershey:
The choice of teaching or trading to make money while mentoring is very humorous. You should watch for a week or so.
Try to get out of the either or orientation.
Teresa Lo, is she a market charlatan? She used to run a firm called smarterstops, but now it's called wealthcop. She seemed to go far on "hot asian trader chick" appeal.
Re: Re: Market charlatans
I believe there is a difference between trader, investor, and person who trades off inside information.
I suspect many of the big hedgefunds get deals that the the Wallstreet banks can't keep on their own books.
For instance Paulson getting to short tranches of crap as anyone with a property in Florida already knew prices had dropped significantly.
That is not trading. That is Banking in the 21st century.
That deal was so smelly you would guess that the managers of the losing fund probably used that deal to transfer some of their clients wealth to paulsons fund in exchange for some of Paulsons fund.
Quote from dealmaker:
Using the same analogy to traders as was used analyzing classical musicians in the book "Outliers" by Malcolm Gladwell i.e.
top tier musicians - soloist
2nd tier musicians - symphony orchestra members
3rd tier musicians - music teachers
thus if we use the same analogy to traders
top tier traders - hedge fund partners, bank prop desks and CTAs
2nd tier traders - trading own and perhaps friends & family money
3rd tier traders - teaching noobs to supplement trading income
Imagine if you went to David Tepper or any other top trader and asked him/them to teach noobs for a small fee, I have no doubt
he will kick you out of his office quicker than you can say David.
__________________
"From where Winston stood it was just possible to read, picked out on its white face in elegant lettering, the three slogans of the Party:
WAR IS PEACE
FREEDOM IS SLAVERY
IGNORANCE IS STRENGTH."
Re: Re: Re: Market charlatans
Quote from jem:
I believe there is a difference between trader, investor, and person who trades off inside information.
I suspect many of the big hedgefunds get deals that the the Wallstreet banks can't keep on their own books.
For instance Paulson getting to short tranches of crap as anyone with a property in Florida already knew prices had dropped significantly.
That is not trading. That is Banking in the 21st century.
That deal was so smelly you would guess that the managers of the losing fund probably used that deal to transfer some of their clients wealth to paulsons fund in exchange for some of Paulsons fund.
Quote from Ol' Yella:
LOL that's her --- she's worse than a used car salesman..... at least they sell you something that works
Don't know how any one can defend her, unless they are vendors themselves.
But she's not alone.....
Check out this thread
http://www.bigmiketrading.com/forex...g-strategy.html
Now the same CJ Booth clown has started a service:
http://www.tradeeurofx.com/
http://www.bigmiketrading.com/vendo...rles-booth.html
(he won a BMT contest and he looks nothing like the guy on his webpage - LOL)
He was already a scammer anyway because once he got enough people interested in his BMT thread, he started selling indicators right there in the forum. And Mike, the guy who's so tough on vendors, didn't ban him for it!
No one became profitable with his method in the forum, and he disappeared. The one guy Bobby who claimed to be doing ok with it, ended up blowing out an account and then said he came up with a better version of it that he was going to try and sell.
And just to prove what a joke this is--- check this out
http://www.bigmiketrading.com/forex...rategy-104.html
Using the trade results he gave for his 6E scalping method...
a 77% win rate with a profit factor of 7
avg win: 18.9 --- avg loss: 9.5
BULLSH*T !!
Quote from jsengxx:
I have read the hole thread from cj booth and I think it is al based on technical analysis, it is a good strategy
Quote from jsengxx:
Hello,
I have read the hole thread from cj booth and I think it is al based on technical analysis, it is a good strategy so I think it is stupid just to see what poeple are writhing here!
Quote from jsengxx:
Hello,
Why not stop talking about what other people do and begin to write somting interesting like a good strategy for making money?
Quote from small_beer:
It's very nice of you to come her all the way from the Big Mike's Trading forum to tell us how stupid and unappreciative we are of this work.
Enjoy the freedom of speech you are not accustomed to on that forum for losers and morons. Calling someone stupid there would get you banned in no time especially if you aimed it at Fat Tails (Harold Steinhaus) whose "legendary reputation" would never recover from it.
Quote from NoDoji:
I looked briefly at some of it and it looks solid as rock to me.
Quote from jsengxx:
Hello,
I have read the hole thread from cj booth and I think it is al based on technical analysis, it is a good strategy so I think it is stupid just to see what poeple are writhing here!
Why not stop talking about what other people do and begin to write somting interesting like a good strategy for making money?
Quote from NoDoji:
I looked briefly at some of it and it looks solid as rock to me.
90% of people will lose money with excellent strategies, so I wouldn't use "student" results as a guide to whether a trading strategy is profitable or not.
Who has a near 80% win rate with a profit factor of 7 as an intraday scalper?
Come on.... that guy has to be a con artist.
Quote from small_beer:
That's pretty typical of the BM crowd. Big Mike, who is a vendor too
Quote from Ol' Yella:
Who has a near 80% win rate with a profit factor of 7 as an intraday scalper?
Quote from jsengxx:
It is about price action. When you take a trade you must now why you do it and not because some indicator is telling what you must do.
Quote from NoDoji:
If break even trades are not counted as losers when calculating the win rate, this is not out of line for an experienced intraday scalper.
Quote from Ol' Yella:
There was a thread over there asking if Mike was verifiably profitable. It was pretty funny. Everyone got all pissed at the guy who asked.
Quote from Ol' Yella:
...Big Mike is a vendor?
What is he selling (beside elite memberships)?...
__________________
If you're reading my profile...do not contact me nor reply to me if you're a troll, pretender, liar or believe nobody is profitable in trading.
Quote from wrbtrader:
Any forum owner is a vendor if that forum owner is making money from sponsorship or off the backs (bandwidth/visits) of its members. Therefore, Baron of Elitetrader.com is a vendor and he once said he makes a good income from Elitetrader.com
Quote from goodvintage:
Wrong. Baron is being supported by sponsors and that's okay. Many other sites are too. So is Big Mike. But Big Mike is also selling his own product. That's what makes him a vendor. Simple as that.
__________________
If you're reading my profile...do not contact me nor reply to me if you're a troll, pretender, liar or believe nobody is profitable in trading.
Then it must not be right if you are still losing.
Quote from dealmaker:
NY Times says rate of success is only about 1%. What makes trading difficult is that you can do everything right and still lose money, all that said those who last in the business have not only mastered psychology of trading, technical and fundamental analysis, but also have have become masterful risk managers.
ps http://www.nytimes.com/2010/03/28/b...wanted=all&_r=0
Quote from wrbtrader:
Disagree.
Regardless, there are hints by ET management of a planned "premium" forum to go side by side with the free public forum. When that occurs, will be tough not to categorize Baron in the same category as other forum vendors.
Quote from atticus:
Link?
__________________
If you're reading my profile...do not contact me nor reply to me if you're a troll, pretender, liar or believe nobody is profitable in trading.
Quote from wrbtrader:
When that occurs, will be tough not to categorize Baron in the same category as other forum vendors.
I see someone is coming after Big Mike...
http://www.elitetrader.com/vb/showt...537#post3769537
LOL
The only problem with Big Mike is he takes himself too seriously, other than that he has a nice place.
but he is occasionally rude and condescending in referring to non-elite members
that really is a turn off about him
I know its only $50.... but why the need to guilt-trip people over it?
it is very poor form espcially for someone who is making good money off the forum
there are probably a few other sites or blogs that have a similar voluntary membership section.... but I cant imagine there are any where the owner of the site openly disparages those who opt not to join
It only takes 50 bucks to get some moderation, a good deal imo.
__________________
Daring
Quit throwing around the $50 bucks number, it's going up to $100 in a few months. Sign o the times? 
__________________
Seek freedom and become captive of your desires. Seek discipline and find your liberty.--Frank Herbert
Quote from Daring:
It only takes 50 bucks to get some moderation, a good deal imo.
Quote from small_beer:
When. Until then he is not in the same category as Big Mike. He is not a vendor. When he does become one, I will not be hanging around here any more.
Quote from davidcohenphd:
No, it's not. You are supporting a delusional poser. This guy is a loser and if he thinks that running a big forum is going to make him a trader (or even look like one) than he is too stupid to be taken seriously.
His forum is a joke. Market wizards? I mean seriously? These kids who can barely trade on a simulator call themselves "market wizards?" They can barely play traders on his forums, let alone be ones in real life.
Get real!
ET was my Alma Mater,actually, so i owe it.Many many things i started think differently after being here for a while.So sorry ET for being myself a crackpot all those years.
Quote from Equalizer:
Guys, you got it all wrong. There are very few, if any, serious trading sites.
These sites provide us with the "gift" of comedy.
Quote from Equalizer:
Guys, you got it all wrong. There are very few, if any, serious trading sites.
These sites provide us with the "gift" of comedy.
Quote from Equalizer:
...ET makes money from sponsors who require active members.
__________________
If you're reading my profile...do not contact me nor reply to me if you're a troll, pretender, liar or believe nobody is profitable in trading.
Remember Dennis Boltz? He was a "trading guru" who learned his stuff over at Woodie's CCI. He had such a "great" TA method that he was able to suck in lots of investors.
http://www.knoxnews.com/news/2010/a...am-responsible/
U.S. District Judge Tom Varlan said the former Gatlinburg resident's crimes were in effect crimes of violence due to their impact on elderly or otherwise vulnerable victims.
Bolze apologized to all his investors. He said he never meant to defraud anybody but that he got in over his head with stock trading and could never get back on track
There's one single repository where many of the charlatans congregate...not saying all of them are charlatans but a few of them, I know for a fact, are charlatans
http://traderkingdom.com/experts
Saw Hoagland from TST. Any thoughts?
seadog
16 pages
all about market charlatans
what kind of traders are you anyways?
Man, If you haven't figured this deal out
I give you very little hope for future success
I use to think the number 1 reason for failure was undercapitalization
but after spending some time on ET
I really believe it is cold stark unbelievably gullability
the man said, "There is sucker born every minute"
It's really quite astounding to see them show up on ET
Market Charlatans?
I am shocked
and I thought they had my best interest at heart
I'm beginning to think they are no better than the women I marry
otherwise, I know a very good chatroom you can subscribe to for $50/mo that gives good reliable calls
beats the heck out of trying to figure out what the market is going to do
Trading is hard, why not just pay somebody to make it easier for you?
in trading, there are levels of stupidity
and if you've sunk down to the level of relying on a market charlatan, there really is nowhere left to go below that
and if you are still pissed because you got burned, there is no hope for you
I can tell you, trading isn't that hard, and you can make money consistently, if you just avoid some common mistakes that seem to come naturally
It just takes a while (or in my case a lifetime) to unlearn everything the people you respected and trusted taught you
oldtime
That's a good rant.
Feel better now?
life is going better for me since I started trading forex
Quote from seadog:
oldtime
That's a good rant.
Feel better now?
Quote from oldtime:
life is going better for me since I started trading forex
it opens at 17:15 Sunday
I hate to think what a basket case I would be if I was trying to unload a stock that didn't open until 9:30 Monday morning
Know what you guys mean. Use to trade the Yen, was up at 3 (edt), to watch the market.Then try to trade ES during the day. Too much for me. Now trade ES, watch the Sunday night open.
CJ Booth
I came to the conclusion that this man is another market charlatan.
Just look at my post at the BMT forum:
http://www.bigmiketrading.com/vendo...rles-booth.html
Watch out for every one that is running some kind of business that are related to teaching people how to trade!
This people in general are not profitable and are trying to sell the holy grail.
If you cannot see someone trading in real life then don't trust it!
Yup, I could tell from the way his original BMT thread progressed. It seemed okay at first, but eventually started seeing some red flags.
Maybe there's an off chance that he is scratching out a meagre amount of profit each month, that's the best case scenario. The more likely scenario is he's another "Greenie" type faker.
And those numbers he claimed as his results.... out of this world. I cant see how anyone with nearly 80% winning trades and a profit factor of 7 would even want to bother himself with selling cheap services to new traders. Unless he was lying about those results.
I asked him yesterday about trading the news events and did not get an anser. Later that day I saw via his stats that he puts online that he made a trade right at 7:15, 14:15 my time, ADP Non-Farm Employment Change and guess he entered at 1,2843 the move went too 1,2842 pulled back and then made a LH to 1,2841.
HE MADE 8 TICKS!!!
How can he get 16 if he dos not let the trade move?
So today he anserd my question about trading the news event and yes he said that that was a price action!!!
So why did he not catched todays news moves??
Off-course today that was not price action i guess this will be his anser to dis question...
I saw in the thread that the guy defending him was busted for logging in from the same computer. LOL That's the icing on the cake right there.
I tell you-- you cant trust any of these big talkers on the internet.
80% winning trades and a PF of 7, and instead of putting up the actual proof (which would bring in a huge amount of business for his "services"), he creates a second user account to vouch for himself. Ugh.
Sad that Mike is now defending him by telling people to stop trashing him. He has also chosen not to ban him for using multiple aliases, something he has banned others for.
I think CJ Booth is not working alone. I send the guy that is defending him a private message just to get some more information about his course. This message was written in Portuguese because the guy is Portuguese and the strange thing is that the guy was online several times but only get a message back about 3 days later. So maybe CJ Booth is logging in with his password and could not respond to it because it was written in Portuguese.
That was my first red flag.
edit--- ok, looks like Mike did get rid of the guy for breaking forum rules.
How come people are allowed to "out" the charlatans here these days with impunity? Or at least without the gestapo deleting the posts.
I would wish to be a little more guarded in my comments but the amount of sheer dangerous nonsense out there is staggering. The knowledge of some of these people is razor thin and many of them don't trade at all. I remember buying a garbled version of the long dead Turtle system some years ago (in my ignorance). Happily it was my first and last time being ripped of by a "vendor/educator".
Ah well, the world won't change.
__________________
Anthony FJ Garner, Traders' Place
Quote from AFJ Garner:
How come people are allowed to "out" the charlatans here these days with impunity? Or at least without the gestapo deleting the posts.
I would wish to be a little more guarded in my comments but the amount of sheer dangerous nonsense out there is staggering. The knowledge of some of these people is razor thin and many of them don't trade at all. I remember buying a garbled version of the long dead Turtle system some years ago (in my ignorance). Happily it was my first and last time being ripped of by a "vendor/educator".
Ah well, the world won't change.
The best information is available for free once you have bought/leased a back testing engine and obtained data. Most back testing engines come with plenty of sample systems to tweak. Supplement this with a few good trading books like Kaufman's and look at some of the excellent free blogs out there and you can do away with the vendors and educators.
I continue to add to my list of good blogs and the quality out there is staggering.
No need to "cry any rivers". Just don't pay out good money for the mostly appalling rubbish on offer out there.
__________________
Anthony FJ Garner, Traders' Place
Quote from AFJ Garner:
The best information is available for free once you have bought/leased a back testing engine and obtained data. Most back testing engines come with plenty of sample systems to tweak. Supplement this with a few good trading books like Kaufman's and look at some of the excellent free blogs out there and you can do away with the vendors and educators.
I continue to add to my list of good blogs and the quality out there is staggering.
No need to "cry any rivers". Just don't pay out good money for the mostly appalling rubbish on offer out there.
Quote from Ol' Yella:
edit--- ok, looks like Mike did get rid of the guy for breaking forum rules.
Quote from jsengxx:
That was my first red flag.
Quote from AFJ Garner:
How come people are allowed to "out" the charlatans here these days with impunity? Or at least without the gestapo deleting the posts.
I would wish to be a little more guarded in my comments but the amount of sheer dangerous nonsense out there is staggering. The knowledge of some of these people is razor thin and many of them don't trade at all. I remember buying a garbled version of the long dead Turtle system some years ago (in my ignorance). Happily it was my first and last time being ripped of by a "vendor/educator".
Ah well, the world won't change.
Quote from AFJ Garner:
The best information is available for free once you have bought/leased a back testing engine and obtained data. Most back testing engines come with plenty of sample systems to tweak. Supplement this with a few good trading books like Kaufman's and look at some of the excellent free blogs out there and you can do away with the vendors and educators.
I continue to add to my list of good blogs and the quality out there is staggering.
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