Do the american regulators even care for 'educators' ? This sounds more like a court case than anything else..
They do if the "educator" has somehow promised or promoted specific or certain performance claims to the client, is incorrectly handling and segregating client funds meant for trading, or is directly or indirectly receiving fees or commissions or some other "haircut" from brokers or FCMs or vendors. All of these CFTC points I cover in the four page contract I have with clients, I never handle client funds other than the initial consulting fee, I take absolutely no fees from vendors or brokers of any kind, and I am pleased to make any tax returns including 1099's available to regulators. http://www.cftc.gov/ConsumerProtect...on/CFTCFraudAdvisories/fraudadv_tradingsystem
Ducks. Here are my ducks. TH never worked for Goldman Sachs. Yeah, you don't handle client funds... but you fabricate client references and misrepresent your futures run as profitable based solely upon a debit entry. You're a fraud. Period.
RockMachine: At the risk of voiding my contract with Bone, I wanted to give an unbiased opinion of Spreadprofessor's service. 1. The price is high = yes. However, as stated Bone ONLY wants experienced traders. Well, experienced traders are MUCH harder to train because you have to un-train them first. New clients after a few weeks/months are encouraged to post their trade setups. Often, they show head and shoulder and archaic setups with multiple squiggly lines, etc. Myself, I had a nasty habit of placing tight stops, which every few months I revert to. Point is, Bone didn't teach this stuff. 2. The Guy really cares = Hell Yes! I'm on my 10th month of a 6month contract. Why? because I'm not ready. But to be clear, I contribute and I want it! 3. The $500k trade issue = Don't know. Semantics wise, if I were to make x$ in say the "Crack spread" for 2013, I would phrase it " I made X$ trading the Crack Spread last year. " 4. Is this the Turtle Experiment = Kinda. Richard Dennis said that he could publish his strategy in print and MOST people would lose money. In fact his original group has some who prospered and others who crashed. Weakest link is always the trader. 5. Overall, Bone's experience and knowledge of spread trading in 2014 is easily top 10,5,3 in the world. However, if you trade automated by ticks and turnover 100's of trades per day, then you will need to be un-trained, unless of course your infrastructure budget can compete with the big boys. 6. Finally, I have met and worked with a few people on ET, some were good, others would eat their children for $500..YOU KNOW who you are.. As for Bone, he's legit and cares and is very cautious as to working with the right people and especially before he lets you trade live. Eudamonia: As a current client I made my decision regarding Bone's services based on discussions with his references (former clients). Were they able to apply what Bone taught them and derive an edge? And the answer to that was yes - although it would require a lot of work on my part to learn the system (hence why it is a 6+ month contract). Currently, after four months of simulated trading I'm sitting on a 70% win ratio with a 1:1 reward to risk. Several other traders have shown their results in our trading room of their own trading that is similar or in some cases better. After a few more months I will switch over to live and anticipate I'll see similar results in a live account (because I have accounted for commissions and slippage in my estimates). I don't believe that my $7,500 has been anything but an excellent investment and highly recommend Bone's services. R1234: I signed up with spread professor last year. When I first signed up I must admit I was a bit concerned it might be a waste of money or maybe even a scam. But as I began adding his method to my existing methods I can say it does add value and I have more than made back my investment. His method is legit if used consistently and does carry an edge. J:Law: For all the naysayers & harsh critics of Bone & his spreadprofessor services....not only are his offers legitimate & sound. His ethics compass is intact & oriented in the right direction. If you are on the fence about working with him, just know that he has his feet on the ground & you will walk away from the experience with a greater knowledge of futures, spreading & tradecraft in general.
I would like to welcome a new client, who is in banking in NYC. He has been trading his own personal account.
Bone : Your repeat posts with same marketing material, and the hard sales techniques make me feel like your are only one of the snakeoil salesman.