No, man, you are wrong. "throw up a statement"-- all that would do would have folks claiming photo shop and wanting "proof". A statement could have been posted by using any method-- how would you know how the profits were earned based on a statement? You seem to have an agenda. Peace , surf
Your opinion of traders and wannabes is obviously very low. I think most folks are more intelligence than you are giving them credit for. I don;t know Bone, but he doesnt' seem to be any kind of scammer to me based on what I have read, heard, observed. surf
The same could be said of you. The easiest way to gain credibility on this site is to post on the p/l thread consistently. If bone or any of his clients did that, they would be inundated with pleas for mentoring at an excellent price.
My opinion of some traders is very high. There are posters here who have shared tradecraft, working methods and even arbitrages! ET is a great resource for a new trader if he follows the right traders. If he follows people who liken haphazard trading advice to frosted flakes marketing, his progress will be retarded.
Please, you don't. I understand your position. I don't see this as an ethical issue which is probably why we are on different pages. The website doesn't mention "easy one sigma fades" - it suggests to fade 1 sigma moves in the context of spreads. When discussing flies, condors, and other closely correlated futures combinations that have a physical relationship, I would agree that, coupled with cash flow management, fading 1+ sigma movements is not a bad trade in terms of risk vs. reward. Of course there is no guarantee of profitability. Show me a single company offering guarantees of returns and I'll show you a pending SEC investigation.
I don't think bone should guarantee profitability. That would be a liability. And nobody expects every customer to succeed. Even the turtle traders had dropouts. I think any vendor should make it abundantly clear that if their method isn't a turn key system or arb, it may not work for everyone. If you read the old copy in sum total, it seems like his product is an easy path to profitability. He talks about consistency and fading slow moving spreads and trading every day. The new site presents a more realistic view. That's a good thing. But how much criticism did it take to effect that change? ET members are right to criticize marketing hype and deception. New traders aren't buying frosted flakes. If a new trader with a 30K account doesn't understand that spreads can blow out, especially energy spreads which bone seems to favor, his life can be ruined. Hedging with otm options seems prudent but it is not mentioned once on the website. So far half of his referrals have succeeded and I'm willing to bet money that they were successful traders prior to taking the course.
Listen, I am trying to be very conservative in terms of what I publish as it relates to new client expectations. Could a client find far more trades or zero trades per week ? Of course. There is no holy grail and hopefully I'm not pushing that expectation. I am also not going to get into a situation where I am publishing SEC 506 level information on par with a private prospectus offering to pre-qualified investors just for the sake of getting a few skeptics to become training clients. That is just tons of downside litigation and regulatory exposure for very little upside. Ultimately, I have no control over how seriously a client takes the training, the effort and time commitment the client makes during the training program, and the big deal is that in the final analysis I have absolutely no control over what a client chooses to do in the live market. I cannot control an impulsive, stupid decision made by a client trading live. What if a client chooses to ignore the position management rules I have given him ? Should he later be able to file a complaint or sue me because I published information that he infers to be a reasonable performance expectation ? It's just not worth it in terms of training. Not smart. My sincere, honest conviction is that there should be far more independents and "retail type" traders spread trading. And there are plenty of skeptics who snipe and ask for me to publicly publish my financial history but in reality they will never become clients and will question anything that I publish, and quite frankly I can live with that. It was never my intention to have some sort of huge trading academy. I've converted myself from day trader to swing trader and rotating through a handful of clients every few months or so suits me just fine thank you very much. Has the content on that shitty looking website changed over time ? Sure. Has the content I provide to clients evolved and greatly expanded over time ? Most certainly.
Stating that your content has "evolved" is disingenuous. The website was redacted after several ET members criticized your marketing tactics. Your new copy is more candid and that's commendable. But I doubt we would be having this conversation if the old website wasn't archived. I understand that everybody has to make a living but several ET members obviously frown on marketing hype and deception. Some of your supporters think that hyperbolic web copy is akin to frosted flakes marketing. That may be true if you are selling an ebook or a weight loss product but it is potentially dangerous if you are trading energy spreads.
Certainly, but you yourself quoted bone attesting to the hundreds of hours required to learn spread trading. Probably not mentioned because it's not a common practice to hedge spreads in that manner. It seems to me that this thread has run its course. Member's grievances have been aired and we have almost 40 pages of circular discussion. Bone's method is sound, marketing practices questionable. Time to move on.
Quite frankly, you are grinding an axe without knowing the proper cutting angle. I can think of many spreads outside the energy space that have wicked vol. Take a look at Cotton intermarkets and some precious metals intramarket spreads to name a few. Energy intermarkets, especially constructs like butterflies and condors a bit further out in the curve, are usually very well behaved and quite frankly we make hay with them young SkyWalker.