Can this be for real?

[candles]

Who cares how he's doing it. If he needs your money, he's a fake

 

[EVAP]

Hmm. The "delay" point is very interesting. FWIW, he is using FXCM for his demo account.

 

[Handle123]

If you are decent trader, you can take $1500 account to start and build on that instead of dealing with OPM, buyer beware.

 

[EVAP]

Yes, I am convinced he is not for real. This will not end with me losing money, because he is not getting one dime from me.

 

[k p]

I am asking you to look at the account statement and show me the red flags,

You keep saying this but I don't see any attachments to statements in this thread? Are you going to show us or no?

 

[EVAP]

As I said in the original post:

I don't know the rules, but can post this publicly, if that is ok.

If its ok to post here publicly, let me know and I will.

 

[Pekelo]

he would set up a "demo" account and trade for a week,

Only accept 3rd party verification, like C2. Even with those sometimes there is a glitch that can be exploited.

But anyway, if something is too good to be true, blah-blah-blah. If he is that good he could just use a CC for trading and pay back the interest in no time, no need to ask for private money...

 

[EPrado]

I would like to know how I can verify the results from a "demo account"

Long story, short. I am a beginning trader and am trying to talk to as many people as I can to learn. In my encounters, someone contacted me claiming to be one of the best traders and seems his motivation was more to find capital to trade. He is asking me to trade my money and share profits and of course claims big profits. I told him that I was not really interested, but he insisted. We agreed that he would set up a "demo" account and trade for a week, which he did, running up $50K to over $161K. I downloaded the trade "report" and am trying to analyze these trades to see what is going on - this seems to good to be true. He is trading mostly SP500 and Euro. I do think that he is taking a lot of big trades, but that can't be it. He has very few losses, most relatively small. I am very skeptical of this, but I don't have the expertise to really analyze. I don't know the rules, but can post this publically, if that is ok. In any case, I would be highly appreciative is someone is willing to take a look and tell me how he was able to (apparently) achieve these results and also let me know what you did so I can do this in the future. I am smart enough to recognize something that smells fishy, but want to see what the experts here think. I appreciate your time to help.

Again, I am not trying to sell anything, I just don't want to get scammed. What I would like to do is show that this person has "cheated" and am just trying to find the smoking gun...

Thanks

There are a ton of red flags here.

Why is this guy not just trading his own money? Why does he need others to trade for him?

Demo accounts are in my opinion useless. Sorry, but their is a WORLD of difference trading real money vs trading on the sim. From a psychological point you can't even compare the 2. There are plenty of way to game a simulator as well. A lot of the sim software out there let you add manual fills. TT used to back in the day. At one of my old firms new guys would go on the sim and 99% of them made money. Probably because there is a lot less pressure psychologically, and some of course just added manual fills. But I have rarely met traders who have lost on a simulator. Again...if this guy is so good why isn't he trading a real account ?

I won't even go into much detail about the 50k to 161k in a week thing. That's borderline hilarious. Again....on demo it might as well been 500k to 10 million. Means squat. He would be better off opening up a tiny retail account and going from 1500 real dollars to 4500 in a week.

Another problem is some demos are delayed, so he could easily again be gaming the software vs a live quote. Especially around economic releases. If he had a delayed quote after the fed meeting then he should have been able to turn 50k in monopoly money to 400-500k.


My advice:

 

[k p]

If its ok to post here publicly, let me know and I will.

I'm not even sure I understand the complexity of your problem. All you are doing is posting a statement from a demo account. If there is actual personal info on here, like a name and address, then block this out. But since everyone seems to doubt everything about this guy, even you, then I'm not sure what the problem will be.

The fact that you say you logged in to verify this account and trades multiple times should actually give YOU some proof, but this isn't any of us can verify since some people in here doubt that you are being honest about this.

If I were, if I saw him put on trades in the account, if I saw that something was bought at a certain price, and I could see that this was in real time, and I saw when it was sold, in real time, and I saw this for 10-20 trades, then I would have to strongly think he knows what he is doing. But for us, none of this will be in real time, but at least a statement will be one step.

 

[EVAP]

Ok. I took out the personal information and have attached the statement.