Bruce Kenison - Is this a Fraud?

[guy2]

Someone calling themselves Bruce Kenison and selling his Counting Numbers system has been posting his adverts furiously on trading forums. There may have been one posted here on Elite but my search could not find one - it may have been deleted by a moderator.

Anyway, there was one posted here: How I Discovered Kenison Counting Numbers and a few people have followed it up and based on what we have found think that it might be an outright fraud.

So I thought that I'd put this out to the ET community to see what they thought. Genuine or Fraud?

 

[HolyGrail]

Quote from guy2:

So I thought that I'd put this out to the ET community to see what they thought. Genuine or Fraud?

I only had 12 dollars in my trading account but after being a member of the "numbers" game for the past 2 months I now have 2.3 million. Yes the numbers work. It's incredible.

 

[dandxg]

Quote from guy2:

Someone calling themselves Bruce Kenison and selling his Counting Numbers system has been posting his adverts furiously on trading forums. There may have been one posted here on Elite but my search could not find one - it may have been deleted by a moderator.

Anyway, there was one posted here: How I Discovered Kenison Counting Numbers and a few people have followed it up and based on what we have found think that it might be an outright fraud.

So I thought that I'd put this out to the ET community to see what they thought. Genuine or Fraud?

Sounds to me like astro trading hocus pocus. We can predict the future of the markets ahead of time. No offense, but I don't think so.

 

[HolyGrail]

I forgot to mention I could have done a whole lot better with this system if he would have used a green traffic light for buy and a red one for sell. I eventually figured it out though.

 

[dandxg]

Quote from HolyGrail:

I forgot to mention I could have done a whole lot better with this system if he would have used a green traffic light for buy and a red one for sell. I eventually figured it out though.

Kennison with WizeTrade, holy crap mortgage the house!

 

[guy2]

I'm not actually asking if the methodology works or not - it's fairly obvious that it does not.

The opinion that I'm looking for is: Do you think that this an outright scam such as a ponzi scam or the like?

 

[HolyGrail]

Quote from guy2:

I'm not actually asking if the methodology works or not - it's fairly obvious that it does not.

The opinion that I'm looking for is: Do you think that this an outright scam such as a ponzi scam or the like?

I look at it this way. If someone is selling something that cannot possibly work and he tries to sell it based on the premise that it's the secret of the universe then it's a scam, period. It's a scam regardless whether everything else is legitimate.

 

[dandxg]

Quote from guy2:

I'm not actually asking if the methodology works or not - it's fairly obvious that it does not.

The opinion that I'm looking for is: Do you think that this an outright scam such as a ponzi scam or the like?

How do know that it doesn't work. I tend to agree with you though. Have you backtested his method or forward tested, just curious

 

[guy2]

Both good points.

No I have not back tested it so it is somewhat unfair of me to say that it does not work although I would be prepared to bet a lot of money that it does not work.

The reason that I have not back tested it is that I don't have the "magic formula" to back test.

There is a slight contradiction here in what I have said. If it does not work, then surely fading it would create a winning strategy?

This is tongue in cheek because I have proven with back testing systems that a system that does not work can not necessarily be faded to make it work.

 

[stock777]

I use a system by Sam Kinison, any relation?