Breaking the Law?

Discussion in 'Trading' started by crawlin, Feb 28, 2002.

  1. crawlin

    crawlin

    I just listened to a conference call by Oscar Goldman who is the President of Vestec.com He says such things as it's easy to make 50-100% per year. He claims he made enough today to buy a car. He says the only thing we need to be successful are the tools Vestec offers. He has a student get on the call and say she made a little over 1000% in the last six months. She restarted trading only 6 months ago. Not bad eh? HE SAYS HE IS THE BEST DAMN SP TRADER IN THE WORLD AND CHALLENGES ANYBODY TO A CONTEST!! He says a true pro like himself understands that every 15 years-money moves from stocks into commodities and then back. He said he predicated and KNEW 2 years ago that the market would drop. He then goes out on a limb and states that after his seminar-if you're like most people- you will walk away cutting losses down dramitically. Some completely eliminate unnecessary losses. He then says he is having Nick Van Nice help him since Vestec used to be CTS and Nick Van Nice was the old president of CTS. Check out what happened to Nick Van Nice:

    http://www.cftc.gov/opa/enf01/opa4538-01.htm

    Anybody here familiar with CFTC or SEC laws? Is this guy overstepping the lines and breaking the law? I'm wondering if
     
  2. crawlin

    crawlin

    And he says one of the main reasons CTS went out of business is that they were not charging enough. Funny how he didn't mention the CFTC ruling huh? He also says that he came up with trading systems that have some pretty amazing results. Any of this sound fishy?
     
  3. stevet

    stevet

    there is always someone who is going to believe stuff like this, or they figure they dont believe it, but they will pay to find out - i suspect that anyone who gets suckered into this sort of stuff is never going to make it as a trader

    everything you could ever want to know is in all the books that you can read - you have to read a lot of crap to get there - but its all there - and dont pay - go to the library - or buy it and then take it back and excahange it for another one

    reminds me of the story about the guys who used to sell diamonds by cold calling - 50% off etc - and people payed up - but when they checked the value of the diamonds - they found that they had bought rubbish - when they complained - they were told there was a mistake, so send back the diamond, and as an appology, just send us another x thousands and we will give you an even better value diamond - you can guess what happened and thousands and thousands of dollars got sent to these guys
     
  4. crawlin
    He claims he made enough today to buy a car.


    Same old answer pops up, if you make enough to buy a new car every day why fool around doing anything else.

    PS:stevet
    reminds me of the story about the guys who used to sell diamonds by cold calling

    Years ago an employee of mine left for Fla. to start that business. He eventually went to jail.
     
  5. Oscar Goldman? He went from being "The Six Million Dollar Man's" boss to running a trading company?
    weird
     
  6. crawlin

    crawlin

  7. From what I understand......

    If he is not registered with the CFTC or NFA than there are ways around the rules. Such as many system vendors who claim they won 600% in a year when in fact they lost money! You have to be careful when dealing with these people!
     
  8. Brandonf

    Brandonf ET Sponsor

    I made enough to buy a car today! <what I wont tell you is that its a pinto>
     
  9. crawlin

    crawlin

    A 1979 Ford Pinto with no engine...


    :)
     
  10. crawlin

    crawlin

    This guy challenged anyone to a contest. He says he is the best SP trader in the world on that call. Anybody here willing to take him on? Winner takes all. I know there has got to be someone in here who can beat him.
     
    #10     Mar 1, 2002