Thanks ! Another brave soul adding actual knowledge to the topic. He is trading it live and he says it carries an edge. All of you trolls can eat the peanuts out of my shit. Seriously.
Hilarious to hear a 'student' talk about his 'mentor' @bone getting "FLAMED", very well put @R1234 , ANYWAY - @bone, stop swerving and please convince us that you are a skilled professional. Thanks
YOR, you did bring attention to the $486K figure (among other issues) and it's appreciated. bone is going to ignore the $486K elephant in the room, so let's stick to the issue at hand. At this point it's simply repetition. I don't care how (un)skilled he is. If ppl are willing to wire the guy $7.500, then so be it. The issue should relate to the 2007 run and his constantly morphing story here, and on his own site.
Flamed? 1) His supposed expertise is Spread trading, but one spread chart posted looks like newbie has done it. 2) His website advertised something for 8 years, then suddenly he remembered (after 8 years mind you) that statement also included Interest Rate positions along with Crackspreads 3) After 8 years, he remembered that the profit is "Gross" instead of "Net" 4) Again that nagging $486k issue ...
Any rational, clear thinking third party would agree that I am not "duping" newbies and that many of my clients readily state that they are pleased with my work and that they genuinely believe they have an edge. Mind, you, these clients are not "newbies" but come to me as experienced traders who have enough of a trading background to know what works and what does not. The key here is that the client has to put in some effort and do their part in terms of working for it. Common sense dictates that skill is required to achieve these results as a mentor and educator.
Surf is a scammer who deserved to be reported. A lot of commodity guys don't know shit about equities so I can look past his ratio mistake; everyone makes mistakes unless your a ET trading god ofcourse. In the commodities world any spread where I'm buying in one exchange and selling in the other the same product is a arb spread. Does not necessarily mean the arb exists. You ET masters are truly a class act. You have a retail account with IB with a bit of money and you think you know it all. I recall you berating some guy in the p&l thread about why he doesn't show his commissions on his TT set-up without realizing commissions show up on the rid statement. You live in a sheltered retail trading world. P&l and positions are constantly moved from account to account. Several times ive dropped the wrong trade in the wrong account on TT and asking riskops to move trades. As someone who sees this everyday there is nothing wrong with his statement. Some of your lives must truly be miserable.
Thanks so much. Finally some insight from a US prop trader who is used to US FCM prop account statements for US member prop firms. Prop accounts get swept at the end of the year. The equity credit ( positive P&L ) gets debited out to zero. What was positive on a previous statement gets a debit on the final year-end statement. What complicates the statement somewhat is that I carried a small ICE GasOil Crack over the holidays. Whoopy-doo. That's why I told the trolls to report me if they cared to. I've nothing to hide. They're just ignorant about how many prop futures accounts in the US work and they are of course stupid to libel and slander someone over it.
Reported for what? He's not selling anything and Surf is a retail trader with a journal. Completely unenforceable. Idiot, read the ballsofgold conversation. bone deleted the info from his site once ballsofgold called him on it. The TT setup didn't prove the ladder PNL was legit. I was fishing. I have used TT and Ecco since 2003. I've traded futures and FOs for over 20 years. I have traded as a PM for three funds (on my fourth). I know how to read a futures-run and I know that a debit is not a credit. Here's a run from a PM gig I had. Yeah, my account number... not that it matters now. There is a difference between debits and credits. I know how to read a f*cking run. bone dies not. Hence the controversy.
No, that's the entire point you and YOR are missing and quite frankly you are flat wrong. Proprietary futures trading firms in the US use a FCM master account with sub-accounts and they are swept at years' end. Each individual trader's sub-account is debited out to zero into the master account where the splits are then paid out. That's the "DR".
Dude, you're digging an even deeper hole. Feel free. I will answer questions posed to me, but otherwise I think I've made my point. I will be happy to give my name, address and home phone to any regulatory agency or attorney.