Chatroom gurus claiming to have $100k days -- total BS?

Do you believe chatroom gurus claims of $100,000 real money profits in 1 day?

  • No, of course not -- report them to the SEC

    Votes: 21 72.4%

  • Yes, I think they're being totally honest

    Votes: 8 27.6%
  • Total voters
    29
KCalhoun said:
The phony guys claiming real money $100,000 bs days
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Not for nothing Ken, but a lot of us are trading more than a 10 lot. Don't believe what she told you - size matters.

Just like there are guys traidng a 1 lot of the emini getting tick fucked for a loss or taking 1 or 2 point profit, and there are guys buying 100 lots just off the lows and holding MOC. The guy who wonders how his two lots got stopped out at the low tick of the day can't believe the other guy exists who just made 70 points in a day.
 
deaddog said:
I heard that some university did a study to prove that .

100 monkeys and 100 keyboards and all that happened was the monkeys shit all over the keyboards
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You're going to make him feel bad. He's banging away every day trying to bang out the next great American or wherever he may be from's novel.
 
Gaslight Capital said:
Not for nothing Ken, but a lot of us are trading more than a 10 lot. Don't believe what she told you - size matters.

Just like there are guys traidng a 1 lot of the emini getting tick fucked for a loss or taking 1 or 2 point profit, and there are guys buying 100 lots just off the lows and holding MOC. The guy who wonders how his two lots got stopped out at the low tick of the day can't believe the other guy exists who just made 70 points in a day.
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That's a good point.

Like in NQ today, if you bought at the morning low of 10,700ish, and held on for the day until it hit 11,100 with 10 contracts before the close, that's $80,000 in the bank.

And it would have been at a "cost" of only 5K in margin at some brokers. Have a 5 figure account? Then bump it to 100 contracts. Times 10. 50K margin required, and you make $800K
 
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Overnight said:
They have to by regulation

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what regulation? if you’re trading in a production account exclusively you don’t put that language in. it’s a legal cya maneuver in case they get sued for showing a mickey mouse account.
 
I don't see on the SEC's info where they have anything to do with Trading rooms

Common conduct that may lead to SEC investigations include:
  • misrepresentation or omission of important information about securities;
  • manipulating the market prices of securities;
  • stealing customers' funds or securities;
  • violating broker-dealers' responsibility to treat customers fairly;
  • insider trading (violating a trust relationship by trading while in possession of material, non-public information about a security); and
  • selling unregistered securities.
 
snowman80 said:
what regulation? if you’re trading in a production account exclusively you don’t put that language in. it’s a legal cya maneuver in case they get sued for showing a mickey mouse account.
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Why would you get sued for showing a mickey mouse account, as you call it? What is there to sue for? You can really only sue if you are told to specifically take a trade with real money, while the person telling you to do it does not, in a public area.

Right? Something like that.

I dunno'. I put a lot of credence into what my old mentor told me, which was that there was a a lot of legal paperwork required in order for him to show real money account trades. Never did figure out the details of that before he retired, and whether it was true, but the explanation was good enough for me and I didn't follow up with it.
 
That’s the difference between being patient and position trading and entering at what should be a significant price level on a larger time frame using a more liberal stop and letting time do it’s job VS trying to manually scalp at every price throughout the session with scared money all day for a point or 2

Overnight said:
That's a good point.

Like in NQ today, if you bought at the morning low of 10,700ish, and held on for the day until it hit 11,100 with 10 contracts before the close, that's $80,000 in the bank.

And it would have been at a "cost" of only 5K in margin at some brokers. Have a 5 figure account? Then bump it to 100 contracts. Times 10. 50K margin required, and you make $800K
More...
 
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