Nobody gives a shit, Shirley. Go check out the journals section. Plenty of traders can do it, handily. Including myself. What? Are you jealous you spent 5 years of your life and 40 grand on some worthless designation that doesn't make you a dime in the market? Not to worry. Glorified hand-holders will always have a place at the table.
As you gain more experience and have a relationship with an IB, you will then learn how things work. Silos are still the rule. Employment requires licenses. Licensees require testing and passing tests and getting assigned numbers. The government regulates licensees and employers who operate in a givien state to follow the regulations of the given state. Personally I operate under the protection of a corporation as an independent contractor in silos where I am licensed. As a trader my IB qualifies me under the rules of the NFA. In this silo I am an amateur. And the SEC regulates my compliance with the federal compliance rules for not cheating. Certainly the SEC and others like the IRS make a lot of enforcement mistakes and they go through the process of getting straightened out. After they learn they correct their errors with retractions. They are slow to learn. You may be watching and observing this and that. When I post that the open on Monday (06AUG12) is going to be long and I suggest that you go long on the first bar; then I have spoken using my knowledge and skills. I am correct. In your case, you are so myth bound that you do not know how the market works, scientifically speaking. I could test your mind and you could then find out how it deviates from being able to perform. You are thus stranded and in a place that is sub par for performing. When I prepare for licesning tests, I know I am going to ace the tests. My instructors usually try to make a deal with me to report to them so they can learn how the testing is changing. They certainly would not charge me for their instruction. You are kind of out of it and have a very selective picture of the whole. Many of the myths you believe are just myths that have invaded the ranks of the common people.
danshirley ...... The so called "naive individual" with "serious financial problems" is down only $3100.00 on that trade with one month to expiry. No big deal. http://www.elitetrader.com/vb/showthread.php?s=&threadid=247044
Dan, you frequently post trades to your COT thread. What's the difference between posting a marketable trade on your journal and "recommending" a trade? A disclaimer? Blindly offering trade advice to anon individuals on a msg board would be a violation of your license. You don't "know the client", as it were. I see no disclaimer on any of your COT thread posts.
If you check with a securities lawyer my lay opinion is that you will find the coversations here are covered by what is known as a publisher exemption. It's what lets trading rooms operate without registration. Anybody here can say almost anything. Wrapped a little tight there my man. cheers Jack
If someone is violating a law--sure--we are in agreement. However, that doesn't mean sympathy should be extended to those who foolishly listen with their wallets to buys and sells.