Quote from bone:
Quote from davidcohenphd:
The best advice I can give anyone on this forum or many others of this kind is not to base your opinion about any vendor on what you hear about him from the unknown third parties.
Better yet, why not speak with the educator's clients on an independent and personal basis. Ask questions regarding the performance and value of the educator. Ask questions about the client in terms of his background. Make an informed decision about whether the educator has a system that has a high probability of ultimately working out for you. Does the educator take any warm-blooded prospect with a pulse and the fee, or are there certain requirements that the vendor has in terms of a client with particular pre-existing skill sets required to make the strategy work ?
References are of somewhat limited value. I don't know these people, never met them, and never probably will. I can trust people I know well and respect, and that includes mainly my friends and family.
My point is that you cannot trust those you meet on the Internet unless you somehow got to know them well. And even then, I would not put as much trust in what they say as I would in my friends' advice. Those you meet on the Internet trading forum can be trusted even less than anybody else you meet on the Internet.
The same applies to vendors who hang out on trading forums. They are there for a reason, to sell you something and if someone on the same forum is shilling for them, to me that's a negative sign: being a contrarian thinker, I am forced to investigate vendors like that even more thoroughly than others.
Don't get me wrong, I am not into vendors bashing. In fact, not long ago I was kicked out of the Big Mike forum for doing just the opposite: objecting to the incessant vendor bashing that's going on his forum.
The forum was created by a loser, by his own admission, who had blown 2 accounts, "like most day traders" (his words). Well, I beg to differ. Most day traders don't blow 2 accounts, but all idiots do. This guy is now trading his third account or, at least, that's what he wants you to believe. In reality, I suspect that he makes all his money from the forum and his vendor business.
Yes, he is a vendor too. He makes money from his elite membership which provides extra trading information, and that means he charges for what vendors routinely do too, except that he calls the elite membership fees "donations." He cannot honestly admit that these are fees; so much about his vendor integrity. He also does not disclose his identity, despite accepting money from people. Highly unprofessional. Who is he really hiding from? IRS or FBI?
Big Mike, being a vendor, encourages bashing his competition which is done by other vendors hanging out on his forum, sometimes also hiding their vendor status, and by his followers who can most charitably be described as "dipshits." The most vile of the vendors who engages in smearing his competition on the Big Mike forum is a sociopath with a handle "Fat Tails," who is peddling some genius stuff he plagiarized from the work of yet another vendor. Of course, he does not disclose that he is a vendor.
Why am I talking about it at length? Because with Big Mikes and Fat Tails of this world and their shills and deranged, dimwitted followers you simply cannot trust anything what's being posted on the trading forums these days when it comes to vendors. You simply have to ignore it, at least most of the time, and all the time when it comes to the Big Mike forum. Whether it's good or bad.