@bone, @Junior_CTA 's post sounds like something that would be given by Chunck from the Goonies. @bone, In over 10yrs at a prop shop based in London and NYC, I can say I have seen thousands of statements. Yours does not read that you made close to $500k. It just says you had a tiny crack spread position on. @bone, I assume you and Chunk have no recent statements either?
I feel that I have given both sides ample opportunity to state their opinions but it's not going anywhere. If someone wants to bring in a knowledgeable third party who will state their real name, their position in the industry, and their qualifications to settle this dispute, I will allow that person to post in this thread. Otherwise, this horse has been beat to death and I'm over it.
I received a response from a third party regarding the disputed statement so I am sharing it here. I'm not reopening this thread for further responses, but will continue to post opinions from emails sent to me by other third parties should they arrive. Hello Baron, My name is Patrick Agate. I am The risk manager and active partner with Prime International Trading. I have been the Risk manager since 2003 and active partner since 2011. We are a proprietary trading firm that mainly trades options on commodity futures. We also have several off floor spread traders within our firm. All of our traders our independent contractors and they get paid a percentage of their profits earned at different intervals throughout the year based on the terms of their contract. I am giving you some background on myself just to let you know that I am very clear on how prop deals work and I know how to read statements from clearing firms. The statement in question is from advantage futures who my firm has used in the past to clear trades. Currently most of our business is cleared through Rosenthall Collins Group and New Edge. My point is that the clearing statements are all very similar and I deal with them on a daily basis. On this statement from Advantage futures I see the beginning balance of 488,204.63 (US non reg) and then see the cash was swept out 486,124.63 on 1/2/7 for profits in 06. It is pretty clear this account made some good money... If you have any further questions please let me know. Pat Agate Prime International Trading
For 17 years, this site has always been ultra-critical of education providers, and rightly so. From my experience, most of them simply don't have what it takes to back up their claims of past performance and potential profitability. But I said most, not all. Although he has taken tons of heat over the years from a variety of different angles, I think bone has repeatedly demonstrated a level head by answering questions, providing statements and references, and generally being one of the rare education providers who actually tries to work through the criticism first instead of just complaining about it to me immediately. I would also like to state for the record that bone has been a sponsor here for many years. And in that time, I've never had a single client of his contact me with one negative comment about him or his services. So although everybody may have different opinions about aspects of his education business, I think he's a big asset here at ET and has established a solid track record, especially given the extreme scrutiny he's faced.