I would like to know how I can verify the results from a "demo account" Long story, short. I am a beginning trader and am trying to talk to as many people as I can to learn. In my encounters, someone contacted me claiming to be one of the best traders and seems his motivation was more to find capital to trade. He is asking me to trade my money and share profits and of course claims big profits. I told him that I was not really interested, but he insisted. We agreed that he would set up a "demo" account and trade for a week, which he did, running up $50K to over $161K. I downloaded the trade "report" and am trying to analyze these trades to see what is going on - this seems to good to be true. He is trading mostly SP500 and Euro. I do think that he is taking a lot of big trades, but that can't be it. He has very few losses, most relatively small. I am very skeptical of this, but I don't have the expertise to really analyze. I don't know the rules, but can post this publically, if that is ok. In any case, I would be highly appreciative is someone is willing to take a look and tell me how he was able to (apparently) achieve these results and also let me know what you did so I can do this in the future. I am smart enough to recognize something that smells fishy, but want to see what the experts here think. I appreciate your time to help. Again, I am not trying to sell anything, I just don't want to get scammed. What I would like to do is show that this person has "cheated" and am just trying to find the smoking gun... Thanks
if I can routinely turn 50k into 150k why would I ever need anybody elses money? And why would my advertising account be nothing more than a practice account? Tell him to try it again with 50k of his own real money in a verifiable real account.
I think i know the answer on how this guy make this. Just send you a private message (check your pm thread)
No. He set up the demo account and gave me full access. I looked everyday and watched it go higher and higher and higher. I have the account statements, trade by trade. It all "looks" legit. I am trying to figure out what he did?
I can't tell what his stop losses were, but other than one big loss, everything else seems small. I am happy to send you the account statement if you'd like and appreciate any help.
mistake #1: do not talk to many people, if possible do not talk at all... you can listen.. but even listen to a very few ===In my encounters, someone contacted me claiming to be one of the best traders and seems his motivation was more to find capital to trade=== mistake # 2: best traders do not need any capital to trade from other people... that's why they are the best - they are producing capital.. (for themselves of course)... anyone using opm is not a trader at all (most of the them - charlatans, some of them - wana-be-traders).. without opm - they are all in dead water.. i did not read any further but i am sure there are plenty of mistakes to follow ... if the story ends up you losing all your money i would not be surprised