any good chat rooms in Paltalk & Hotcomm?
- Thread starter zxcv1fu
- Start date
Daytrademargin said:
"elricardo is a cocaine junkie. That is why he is always yelling at everybody in his chat room(he is really on drugs and cocaine, he even admits to his drug addiction in his chat room). He is not legit and he is very unprofessional. He is a fraud. He paper trades. He drives a 500.00 car that breaks down every other week(that should tell you something about his finances. A successful daytrader drives a brand new car, not a $500.00 car). He is a 54 year old man who had to move back in with his aging elderly mother because he gambled all his money daytrading the stock market and couldn't afford to live on his own. He is not legit. If you like your money then do yourselves a favor and stay out of that room."
I'm not sure if that's true or not but I wouldn't doubt it. I was in elricardo's room for 2 months and he is a total joke. It's nothing but phantom trades. At first appearance he seems to make money but in real life it's impossible to duplicate. He'll say: "I'm going long now the ES at XXX price"......5 seconds later he'll say: "Ok, I'm out half at .50 profit, letting the other half ride". In real life nobody got filled and if you question him, he yells at you and says you should have gone at market. Lol.
And yes, I did hear him yell at some woman in the background multiple times while in the room. And also a lot of frequent yelling at the dog. Lol. I will admit he made me laugh a few times at his comments on the market and life in general. But that was about all the room was worth.
"elricardo is a cocaine junkie. That is why he is always yelling at everybody in his chat room(he is really on drugs and cocaine, he even admits to his drug addiction in his chat room). He is not legit and he is very unprofessional. He is a fraud. He paper trades. He drives a 500.00 car that breaks down every other week(that should tell you something about his finances. A successful daytrader drives a brand new car, not a $500.00 car). He is a 54 year old man who had to move back in with his aging elderly mother because he gambled all his money daytrading the stock market and couldn't afford to live on his own. He is not legit. If you like your money then do yourselves a favor and stay out of that room."
I'm not sure if that's true or not but I wouldn't doubt it. I was in elricardo's room for 2 months and he is a total joke. It's nothing but phantom trades. At first appearance he seems to make money but in real life it's impossible to duplicate. He'll say: "I'm going long now the ES at XXX price"......5 seconds later he'll say: "Ok, I'm out half at .50 profit, letting the other half ride". In real life nobody got filled and if you question him, he yells at you and says you should have gone at market. Lol.
And yes, I did hear him yell at some woman in the background multiple times while in the room. And also a lot of frequent yelling at the dog. Lol. I will admit he made me laugh a few times at his comments on the market and life in general. But that was about all the room was worth.
Thanks for the information, today elricardo has 6 in his paltalk room. Have many in the does not gureentee it is a good room, but after manay months his room has 6 definitely show the room is no good in my book.
I have attended Pristine's new emini chat 2 week's free trial recently. They are using Greg's training to trade. The moderator isconcentrating teaching how to use market structure to read the market. I have Pristine training before so my time is well-spent to expose to Greg's new development. He has his indicators combo including the prem value. I decided not to sign on since I still think Linda Raschke's chat is probably more valuable. Wish someone can post feedback here about her service.
Since 3/29/06 Franz came to the Traders Internations ET thread to make some outrageous claims about his trading size & performance. I & others requested him many times to provide audited performance. He & his followers made all the sound & dances, but till today he has showed nothing to backup his claim.
From what I have gathered he is not trading TI system. He keeps adding his loss until he makes profit. Therefore he probably will make money most of time but loss huge when he does. This kind of trading style can wip out accounts. Taking 1 week trial is a waste of time. 1 Et member is very smart. He challenges Franz trading for 1 year, not 1 week.
We all know even bad trading rooms have devoted followers until they suffer big loss. That's why we have to be careful with any chat room follower's posts. We have to do our due dilligence before spending our precious time or money for any trading service.
I have attended Pristine's new emini chat 2 week's free trial recently. They are using Greg's training to trade. The moderator isconcentrating teaching how to use market structure to read the market. I have Pristine training before so my time is well-spent to expose to Greg's new development. He has his indicators combo including the prem value. I decided not to sign on since I still think Linda Raschke's chat is probably more valuable. Wish someone can post feedback here about her service.
Since 3/29/06 Franz came to the Traders Internations ET thread to make some outrageous claims about his trading size & performance. I & others requested him many times to provide audited performance. He & his followers made all the sound & dances, but till today he has showed nothing to backup his claim.
From what I have gathered he is not trading TI system. He keeps adding his loss until he makes profit. Therefore he probably will make money most of time but loss huge when he does. This kind of trading style can wip out accounts. Taking 1 week trial is a waste of time. 1 Et member is very smart. He challenges Franz trading for 1 year, not 1 week.
We all know even bad trading rooms have devoted followers until they suffer big loss. That's why we have to be careful with any chat room follower's posts. We have to do our due dilligence before spending our precious time or money for any trading service.
Thanks! I think we need to help each other to improve out trading. One way to learn is to follow a good mentor to trade real time. Unfortunately there is too many not so good people that like to take our time & money. I am doing my share to contribute here.
By the way one post by Dottom said about TI thread the best:
http://www.elitetrader.com/vb/showthread.php?s=&threadid=66460&perpage=6&pagenumber=87
Thoughts:
- "Just take the damn trial" argument is total BS because that is the crux of any advertising attempt. One week proves nothing. Ever heard of tout sports betting services that give away free trials, money-back guarantees, etc. all the time. They don't care. They just have to win some small % of the time and the people who happened to be on the free trial will be coming back for more.
- For the kind of size being advertised, there are many other ways to show proof than just audited trading statements. Heck, the monthly commission fee summary would at least give an indication of # of RT's without showing any other dollar amounts.
- If the goal is to get more ppl in the room, any kind of "proof" would be the ultimate advertising. The fact that this is being advertised on ET means they want more subscribers. If they could, they would, it's that simple. Heck, even showing one week or one month's worth of "proof" would pull in more subscribers (who cares about showing size or profitability over a year).
- There was a post a while back that one possible reason for wanting more subscribers (after all, why would he run a chat room if he's pulling down $146k per day), is because he's front-running. The problem with this argument is that if he was truly front-running, he'd open up the chat room for FREE. Then he'd have thousands of subscribers to run in front of...
- The argument that ET members should go to the chat room to ask questions conveniently disregards the fact that Franz came here.
- Seeing the same market depth on sim vs. real proves nothing. Put both side-by-side you'll see the same market depth. What about the scratched off contract header?
- The "challenge" will prove nothing and is worthless. Just drop it.
- Audited statements aren't necessary. Find any trusted third party in the trading business and their endorsement is worth more than the actual statement itself. Someone trading this kind of size should have many friends in the trading business.
- Franz should have known with his experience on other message boards, being in the industry for 19-years, attending seminars, traders expos, magazine interviews, and being in the chat room/tout/system selling business to expect due dilligence questions.
- Leave all insults out of this. Just the facts, please.
- Every other legit chat room, guru, even system seller has always been willing to show some kind of "proof".
- #1 motto in sales: "Where there is mystery there is margin."
- My personal belief: Franz trades smaller size than he claims, but he does trade. He shows the occasional statement (when he didn't have to keep doubling down b/c he probably doesn't to the tune of thousands of contracts as claimed). He can show these statements because he does trade some moderate size. Since he trades moderate size, the chat room and whatever he gets from TI is a significant enough amount of income that it's worth his time to bother with all that comes with this business. Since he doesn't trade the actual size that he claims, he will refuse to show any "proof" other than one day statements here and there that happen to reflect 1) the moderate size he actually traded (i.e. we only needed to trade 25-contracts today because we didn't have to double down); 2) when they coincide with the calls in the chat room that day. Whether he is long-term profitable or not I will not speculate.
By the way one post by Dottom said about TI thread the best:
http://www.elitetrader.com/vb/showthread.php?s=&threadid=66460&perpage=6&pagenumber=87
Thoughts:
- "Just take the damn trial" argument is total BS because that is the crux of any advertising attempt. One week proves nothing. Ever heard of tout sports betting services that give away free trials, money-back guarantees, etc. all the time. They don't care. They just have to win some small % of the time and the people who happened to be on the free trial will be coming back for more.
- For the kind of size being advertised, there are many other ways to show proof than just audited trading statements. Heck, the monthly commission fee summary would at least give an indication of # of RT's without showing any other dollar amounts.
- If the goal is to get more ppl in the room, any kind of "proof" would be the ultimate advertising. The fact that this is being advertised on ET means they want more subscribers. If they could, they would, it's that simple. Heck, even showing one week or one month's worth of "proof" would pull in more subscribers (who cares about showing size or profitability over a year).
- There was a post a while back that one possible reason for wanting more subscribers (after all, why would he run a chat room if he's pulling down $146k per day), is because he's front-running. The problem with this argument is that if he was truly front-running, he'd open up the chat room for FREE. Then he'd have thousands of subscribers to run in front of...
- The argument that ET members should go to the chat room to ask questions conveniently disregards the fact that Franz came here.
- Seeing the same market depth on sim vs. real proves nothing. Put both side-by-side you'll see the same market depth. What about the scratched off contract header?
- The "challenge" will prove nothing and is worthless. Just drop it.
- Audited statements aren't necessary. Find any trusted third party in the trading business and their endorsement is worth more than the actual statement itself. Someone trading this kind of size should have many friends in the trading business.
- Franz should have known with his experience on other message boards, being in the industry for 19-years, attending seminars, traders expos, magazine interviews, and being in the chat room/tout/system selling business to expect due dilligence questions.
- Leave all insults out of this. Just the facts, please.
- Every other legit chat room, guru, even system seller has always been willing to show some kind of "proof".
- #1 motto in sales: "Where there is mystery there is margin."
- My personal belief: Franz trades smaller size than he claims, but he does trade. He shows the occasional statement (when he didn't have to keep doubling down b/c he probably doesn't to the tune of thousands of contracts as claimed). He can show these statements because he does trade some moderate size. Since he trades moderate size, the chat room and whatever he gets from TI is a significant enough amount of income that it's worth his time to bother with all that comes with this business. Since he doesn't trade the actual size that he claims, he will refuse to show any "proof" other than one day statements here and there that happen to reflect 1) the moderate size he actually traded (i.e. we only needed to trade 25-contracts today because we didn't have to double down); 2) when they coincide with the calls in the chat room that day. Whether he is long-term profitable or not I will not speculate.
I did GOOG search yesterday about TI last night, these is what I have found:
http://daytradingnotes.blogspot.com/2004/12/profit-strategies-for-trading-market.html
TI system brief in a blog
http://www.purebytes.com/archives/omega/2002/msg05205.html
http://www.purebytes.com/archives/omega/2002/msg05189.html
The above 2 links are just some info, guess Franz & the TI founder are both Iranians. The are famous to be good businessmen.
Do not have time to do search about Franz but I am sure others can do better detective work. I need to go back to study my trade to make my time more productive
http://daytradingnotes.blogspot.com/2004/12/profit-strategies-for-trading-market.html
TI system brief in a blog
http://www.purebytes.com/archives/omega/2002/msg05205.html
http://www.purebytes.com/archives/omega/2002/msg05189.html
The above 2 links are just some info, guess Franz & the TI founder are both Iranians. The are famous to be good businessmen.
Do not have time to do search about Franz but I am sure others can do better detective work. I need to go back to study my trade to make my time more productive
Anyone made false claims in US, can be prosecuted like this guy:
http://www.cftc.gov/opa/enf03/opa4849-03.htm
http://www.cftc.gov/opa/enf03/opa4849-03.htm