Does he have a name? Facebook and Google would be realtively easy ways to find him then.
500%+ in one year on autopilot - call for beta testers!
- Thread starter babyjake1961
- Start date
As a former commodity options trader I don't need to tell you that ATM volatility and thus straddle prices already have risen in anticipation of such news releases.
So, basically you're already paying a premium price for this strategy..and if you're doing it in a back month, you're really paying up in a potentially illiquid environment.
Granted, should you catch one that goes parabolic, it'll pay off nicely.
Just remember, that unwinding one side of a straddle is a foolish idea..all it takes is one overnight boomerang of the prior trend to cause maximum damage..and we've all heard about examples of that happening.
And along those lines, the option pro's make most of their steady money selling straddles and minimizing that risk with other tactics.
Hitting a home run on a long straddle play althoug a wonderful experience pales in comparison to watching the gut wrenching systematic erosion of an overpriced straddle..ouch!
Just throwing my .02 in..
Market-maker a.k.a. bucket shop firms typically have an "A-book" and a "B-book". Clients arrive by default on the "B-book" which means that the firm takes the other side of trades, or in other words, they tell clients that orders "executed" but they did nothing on their end, just took note of the virtual position in a ledger. This is how they can claim "guaranteed instant executions", "zero slippage", etc. Since customers lose on average, the house wins (in addition to commissions and other fees).
The more sophisticated shops have algorithms that monitor users, perhaps even individual trades, and will move some users, or a portion of their trades, to their "A-book" which means hedging the customers' position with a similar position in the underlying market, to limit the firm's exposure if the customer wins. A consistent trader can expect to be on the A-book, or, in less reputable shops that do B-booking exclusively, the trader can get kicked out before they lose too much money.
Overall, if the firm is open about it, there's nothing "shady" or undesirable about B-booking, since it facilitates executions. You just have to make sure the executions don't suffer if you're moved to the A-book (i.e. maybe they'll start delaying executions on your end until their hedge is secured, and give you their hedge's execution price instead of that "zero-slippage guarantee").
500%+ in one year on autopilot - call for beta testers!
smells like a con game. looks like a con game. walks like a con game. it just might be a con game. if the programmer really believed it might make 500% then he would want to keep things quiet and put up his own $10. after all that programming $10 is not much for him to put up to prove if it works. it must have lost. so he wonders if other people will put up money. smells like a con game to me. look the programmer should put up some money then do a CFTC approved full Disclosure Document on the results.
the one escape from the CFTC is that they do not regulate Forex accounts. so all the scam artists operate on forex.
I dont know if this is honest or not. But NO WAY would I put up a dime on this smell test. And I advise everyone to run away quick. and I advise the owner of this site to block this entire thread. it will ruin his reputation to allow this kind of thing on elite trader web site. Just my personal experience and belief.
he yells out to sue him and shut him down when he knows the CFTC will not go after forex scam artists. so putting him out of business is going to be very difficult and costly. the best way to protect oneself is to run away. if it sounds too good to be true it is too good to be true.
500%+ in one year on autopilot - call for beta testers!
another wet dream. 500% per year. hahaha. the illusion faries are running loose on this joke.
smells like a con game. looks like a con game. walks like a con game. it just might be a con game. if the programmer really believed it might make 500% then he would want to keep things quiet and put up his own $10. after all that programming $10 is not much for him to put up to prove if it works. it must have lost. so he wonders if other people will put up money. smells like a con game to me. look the programmer should put up some money then do a CFTC approved full Disclosure Document on the results.
the one escape from the CFTC is that they do not regulate Forex accounts. so all the scam artists operate on forex.
I dont know if this is honest or not. But NO WAY would I put up a dime on this smell test. And I advise everyone to run away quick. and I advise the owner of this site to block this entire thread. it will ruin his reputation to allow this kind of thing on elite trader web site. Just my personal experience and belief.
he yells out to sue him and shut him down when he knows the CFTC will not go after forex scam artists. so putting him out of business is going to be very difficult and costly. the best way to protect oneself is to run away. if it sounds too good to be true it is too good to be true.
500%+ in one year on autopilot - call for beta testers!
another wet dream. 500% per year. hahaha. the illusion faries are running loose on this joke.
Probably you have to open an account with them. The 500% is probably the commission it will generate for them.
here is what I am thinking. imagine I am selling you on this idea to put up $10. what is in the software is totally hidden from you so you have no idea. It might just be software to communicate back to me. not actually trading. and to set up the scam I am pulling I want to do this with 100 people. now all I have to catch is just a few watch me do it.
I throw in $10 profit for you in maybe a week. you double your money in one week. that is faster than 500% per year. so I might tone it down later. so you are happy. you doubled your money in a week. now the next week I throw in $20 and you double again. wow. my software is incedible you are doubling your money every week. you can see that. It has to be true.
but alas it is not true. I am throwing you this money because you will not quit now. this is too good to be true. you are now the MARK. I think that is the correct term in a scam. the mark. hahaha.
I can go on with this because you will never want to leave such incredible trading program that is not even trading. I just stuff money into your account. making it look good. suddenly you phone me you email me. you show up with $20,000 cash you want to increase your investment in this fantastic computer program and trade it. Now I did not ask you for more money so you will have no ability to sue me to get the money back. you will not even bother to try. on the first day with $10,000
in the account you can now lose back to me all I had let you win. and you are going to take big losses now. or I will now make big profits. all safe and secure for me to scam you. after all didn't you make more than 500% per year in the first 2 weeks. this is just a minor temporary setback. and of course I will allow you to have some small winning days.
Remember that random feedback is the most addictive and hardest to stop doing.
they have done tests on animals where the animal gets random rewards for hitting a lever. he will not end his attempts. because he thinks just this next try might get a reward this time.
OMG what a perfet scam I have going. the focus of the mark is all in the wrong place. he thinks the stupid program is actually making honest trades. hahahaha.
this is NOT what it is advertised as. it smells all wrong. if you had a program that made 500% would you be on elite trader trying to get other people hooked on your method. or would you be trying to use it with your own $10 trying to make money that way.
the answer is obvious. and what is happening here makes no sense. so I dont believe it.
now I am not saying the above is what this guy is doing. I said it is the way I could run a scam and do it if I could program which I can not do. I am terrible with computers. but I have an imagination and I can imagine how it might be done. Now I did not write this to encourage anyone to do what I talk about. Honesty is the best and only policy. learn to trade. work at it. it is hard to trade. but keep working every day. you can do it. or else take up something else. ask the neighbors if they want their grass cut. you can cut grass for a few dollars. at least you are coming out ahead for your work.
when a person gets caught in a scam nothing is what it seems to be. remember that. if you think the program is trading and it is not trading then you are the mark. and the object is to fleece you of all your money. and random feedback is the most addictive because it is so impossible to prove it is not working after it worked on the first $10.
Demand a fully approved Disclosure Document by the CFTC as a minimum before even considering. most people lose even with full CFTC Disclosure Doc but at least it gives you a basis for a lawsuit. the document is the basis for any lawsuit if you can show deficiencies in the document. untruths etc. it gives you something in court to argue.
Elite Trader is about you learning how to trade. about You taking responsibility for your money. not giving it to anyone else. well do that. make up your mind that you are going to make all decisions on all trades with your money and only if you understand everything perfectly and you decide to make the trade. no if and or buts.
NOW sit down and learn to trade. yourself. you do it.
I throw in $10 profit for you in maybe a week. you double your money in one week. that is faster than 500% per year. so I might tone it down later. so you are happy. you doubled your money in a week. now the next week I throw in $20 and you double again. wow. my software is incedible you are doubling your money every week. you can see that. It has to be true.
but alas it is not true. I am throwing you this money because you will not quit now. this is too good to be true. you are now the MARK. I think that is the correct term in a scam. the mark. hahaha.
I can go on with this because you will never want to leave such incredible trading program that is not even trading. I just stuff money into your account. making it look good. suddenly you phone me you email me. you show up with $20,000 cash you want to increase your investment in this fantastic computer program and trade it. Now I did not ask you for more money so you will have no ability to sue me to get the money back. you will not even bother to try. on the first day with $10,000
in the account you can now lose back to me all I had let you win. and you are going to take big losses now. or I will now make big profits. all safe and secure for me to scam you. after all didn't you make more than 500% per year in the first 2 weeks. this is just a minor temporary setback. and of course I will allow you to have some small winning days.
Remember that random feedback is the most addictive and hardest to stop doing.
they have done tests on animals where the animal gets random rewards for hitting a lever. he will not end his attempts. because he thinks just this next try might get a reward this time.
OMG what a perfet scam I have going. the focus of the mark is all in the wrong place. he thinks the stupid program is actually making honest trades. hahahaha.
this is NOT what it is advertised as. it smells all wrong. if you had a program that made 500% would you be on elite trader trying to get other people hooked on your method. or would you be trying to use it with your own $10 trying to make money that way.
the answer is obvious. and what is happening here makes no sense. so I dont believe it.
now I am not saying the above is what this guy is doing. I said it is the way I could run a scam and do it if I could program which I can not do. I am terrible with computers. but I have an imagination and I can imagine how it might be done. Now I did not write this to encourage anyone to do what I talk about. Honesty is the best and only policy. learn to trade. work at it. it is hard to trade. but keep working every day. you can do it. or else take up something else. ask the neighbors if they want their grass cut. you can cut grass for a few dollars. at least you are coming out ahead for your work.
when a person gets caught in a scam nothing is what it seems to be. remember that. if you think the program is trading and it is not trading then you are the mark. and the object is to fleece you of all your money. and random feedback is the most addictive because it is so impossible to prove it is not working after it worked on the first $10.
Demand a fully approved Disclosure Document by the CFTC as a minimum before even considering. most people lose even with full CFTC Disclosure Doc but at least it gives you a basis for a lawsuit. the document is the basis for any lawsuit if you can show deficiencies in the document. untruths etc. it gives you something in court to argue.
Elite Trader is about you learning how to trade. about You taking responsibility for your money. not giving it to anyone else. well do that. make up your mind that you are going to make all decisions on all trades with your money and only if you understand everything perfectly and you decide to make the trade. no if and or buts.
NOW sit down and learn to trade. yourself. you do it.
They will NEVER receive an approval for a disclosure document with +500% returns. I had in past already difficulties with the CFTC with a much lower return.
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I'm sorry for intruding on this thread in this way, but there is something I should expose and it is this: Myfxbook is not reliable, it is true that it is one of the most recognized websites in the world of Forex, but it is not transparent In Its operation. It is a complex market, and a total business that only benefits the strongest runners.
And, of course, the information contained therein is handled by that community of brokers.
I'm tired of seeing how everybody flattered this system, is as if it was clean at all and it is not. They have stolen strategies from other traders, just for brokers to expose them as their own strategy, of course, this benefits them, right?
In addition, brokers who pay for advertising are "untouchable" on myfxbook. It does not matter if they are big scammers or not. So I completely disagree with what you can say in a good way about myfxbook.