Capital Available for Traders

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Quote from Pekelo:

Slightly offtopic, but let's get the Doug story to reach a conclusion:



Come on, give me more credit in investigation journalism, after all, I have just found out all about Karen, the Supertrader. :)

There is only one guy with that name in the same city. Just like with Karen, when they run a charity fund/organization that is a huge red flag itself. Also, birds of the feather... it is important and very telling whom you associate with. Doug liked other MLM people, even when they were in different business, just like that psychologist woman, whose services he advertised for the would be traders. I guess it is I scratch your business, you scratch my business kind of deal. But anyway...

Here is Doug today, decide for yourself:

http://dougallen.com/about-doug-allen/

"I then went on to do my own events, primarily focused on the psychology, strategies, and implementation techniques that have helped me go from making $5000 a month a 9 to 5 job to creating my own million dollar business."

Now he doesn't say anything about backing traders, does he? :)

His bio is at the bottom, best part is:

"Allen began by trading his own money in 1997, then created the Douglas Allen RAM Fund in 1998. In 1999 The Douglas Allen RAM Fund generated a 169% return for its investors."

P.S.: I kind of lost interest in RAPA when I realized they only give 10% to the traders...

Nice work Pekelo. I called him on the phone several years ago. He seemed like a real scared, retreating type of character--- it's weird seeing the "Internet version" of the super businessman persona as this is far from my experience with the guy. My call is 90% phony--- but who knows, maybe he transformed?

surf
 
Quote from Pekelo:
Slightly offtopic, but let's get the Doug story to reach a conclusion...
http://dougallen.com/about-doug-allen/
Okay, I will concede that was a good find. I lost interest in the story at some point and never followed up. I am still not convinced that Doug Allen of Blue Lion Capital in Pittsburgh is the same Doug Allen who does MLM in Texas. So maybe his hidden agenda was selling "prosperity training" rather than trawling for trading ideas. Whatever he was doing four years ago didn't interest me then, nor does it now.

My point is that there are always hucksters and suckers at the table. Why do the naysayers feel so compelled to point that out? Are you *seriously* more concerned about the suckers' money than they are? Or do you just want to be right about it? Why not just sit back and watch the fun?

This is not entirely offtopic. There is still the question of RAPA and whether they have a hidden agenda. I have doubts about their business model, and I don't plan to participate. But I think it's a bit premature to call BS or worse. If somebody wants to participate, be my guest...

Is there anybody here who doesn't know we're swimming with sharks? Raise a hand ... if you still have one.
 
Quote from rwk:

This is not entirely offtopic. There is still the question of RAPA and whether they have a hidden agenda. I have doubts about their business model,

In a related matter, I am more interested in Topsteptrader, and just like you, I have doubts about their business model, but for the time being, I will just let time go and see if they are able to produce/find some good traders.

Also, kind of related the automated trading championship. After an excellent 2-3 weeks start, had you invested in the top 10 robots, you would be losing money or treading water. So much about trading robots...

Quote from rwk:

I am still not convinced that Doug Allen of Blue Lion Capital in Pittsburgh is the same Doug Allen who does MLM in Texas.

If I recall correctly, Blue Lion was registered and/or run in Texas, but was also advertised by Doug's teenager daughter here in Pittsburgh...
 
Quote from marketsurfer:

http://www.elitetrader.com/vb/showthread.php?s=&threadid=118174&highlight=Mt4+scam

MT4? Wasn't this platform exposed years ago as being a scam?

I guess if you use this software you can catch them at their own game---LOL!!

http://4xtrader.net/forex-tools/

Yes I hear from time to time that the forex world is quite a dangerous place to hang out. I guess the underlying brokerage house offering the MT4 execution needs to be thoroughly checked out.

We are merely providing reporting, it is up to the trader to do their own due diligence but the MT4 community seems to have really exploded in size the last few years. I am told many professional FX traders are using the platform.

I personally think FX is probably the hardest market to make money in.
 
Quote from mickson:

We are thrilled to introduce you to a soft launch of the RAPA Cap Intro™ web portal, the culmination of a decade long dream where we match emerging trading talent with investment capital.

Michael/mickson, thanks for making this service and website available. I signed up and uploaded my IB Flex statement by following the instructions, and it was straightforward, except a few minor things where your instructions referred to certain menu options in IB which have apparently changed. I made it to the "top 15" in the leader-board, actually. Not much competition there yet.

I have some questions:

1. The account performance metrics include standard quantities (such as PnL, Sharpe, Sortino, Max DD, stddev, alpha, beta, and expectancy). Are these metrics used by the RAPA score? Are there any other quantitative measure which affect the RAPA score? What's the point of keeping the RAPA score "proprietary"? I mean, if it's truly a good metric of trading performance which incorporates the risk and reward, it would be impossible to manipulate, right?

2. Since the Flex query generated by IB is just an XML file, it can be easily edited by the user and uploaded to your site as a stellar trading record. How does your service prevent this from happening?

3. How do you plan to keep in sync with the IB XML schema which drives the Flex report? It can change at any time, which means that your parser is destined to fail when this happens.

4. If I opt out of the option which gives you the admin right to my account (yes, I understand that it only has access to reports), can I upload the Flex report periodically (such as weekly)? Would these incremental updates be correctly processed by your RAPA site?

Thanks.
 
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