To be honest, I've traded professionally as long as you have and I have NEVER traded a sub-account with <$3MM. Even in my 20s. I actually think it's comical that you're waving a run with an <$500K net liq as though it is significant. Contact? It's not my investigation. Call them and inquire if you wish. I don't need a third-party to tell me a debit is a debit. Baron wouldn't either if he traded futures for a living. That's my agenda. The point that you're avoiding is simple... PNL cannot be gleaned or alluded to from that $486K figure. You keep bringing up "proof" where none exists. Why don't you call Mr. Gill and ask him?
HYPOTHETICAL SCENARIO: GLENCORE 2013 profits are 1 billion net. Balance sh a.) i agree but if a broker statement is setup to keep daily commissions, then usually these broker statements are setup to keep a mtd pnl, this item is missing from the attachment. The mtd pnl is kept on both daily and monthly statements. You are clearly missing the point, cash movement is not PNL. in order to verify that 486k is from profits, you can look at the prior months YTD or MTD pnl to reconcile with the starting cash balance on the current statement. again, if you step to me, step correct. b.) i agree, if the statement can keep commissions, it usually keeps pnl, nearly all of the brokers do this as a standard. where is the PNL item on his statement, it might be in another part of the statement, but its purposely left out. i attach an example of my personal account. (please note that i am not a fulltime trader as i work at a billion dollar commodities fund) you can see two items, mtd commission and mtd pnl on the left. i netted on real trading 12k USD but i moved withdrew 5400 pounds from my account with no PNL impact. i did an fx transaction to to convert my PNL in USD to cover my GBP deficit. but oh wait, i have a neg balance in another currency so my overall PNL doesn't look that great afterall! if you see on the bottom YTD PNL, the cumulative running total of closeouts, that's all that matters on my statement if you want to see what I made. again cash movement does not indicate PNL. the point is that the only half of the story is being shown and a claim is being made in a falsified manner based on that story, all we are asking for is PROOF. Let me explain my point further with a hypothetical scenario: if glencore had 300mm USD in oil vessells sitting in the gulf coast from one quarter to the next and sold it, the movement from asset to cash will show up as an asset inflation which would appear to be a profit. But wait, the accounting manager forgot to put in the liability side that there is a revolving loan with BNP they have to pay back for financing the OIL cargo, so in reality the PNL is a very different figure than what initially appeared through the asset inflation. International Accounting Standards don't allow for balance sheet items to be included as PNL items bc of how book cooking can occur in this manner. EVERY BUSINESS has to uphold this standard -GLOBALLY. imagine if glencore forgot to put that it had a revolving loan on its balance sheet, over inflating assets, their stock would drop 20% in a heartbeat. Even then, the PNL is determined from operating turnover and not how one interpret's balance sheet items. In other words, PNL or net income is determined from Purchases and sales. Bonehead is doing the exact opposite. He is using a balance sheet items to determine that he made a profit on purchase and sales which is actually illegal under international accounting standards. It should not matter if it is glencore or a self acclaimed spread professor tryiing to lure the naive with ridiculous marketing tactics. i don't personally care what people pay bone, it is each individual's right. It is my opinion that his services are overvalued, but who cares. THE REAL POINT HERE is that a guy is using a public forum as a marketing tool in which his marketing tactics appear to be without integrity. THIS IS THE ISSUE - FACT
Balls of Mold, is that a proprietary futures trading statement from a US registered prop firm, or your own individual account ?
I've never had a contract with a client going by the name of Gill - first or last name. Sorry, you've been had.
There would be ZERO controversy if you had posted the above to your site. Obviously there is a reason you refuse to do so. And it ain't bc we can reverse-engineer shit.