Government Indictment, PureTick, Snakeoil!

S

Spectra

Recently a con man who goes under the alias Ed_A was trolling for new prey in the PureTick futures trading room. He's been officially removed and legal action is pending. Fortunately we were able to sniff him out in a few days and contact the users he was targeting. We are always keeping an eye out to protect the fragile newbies.

Here's a quick summary Ed's tactics, for those interested:

# Ed logs in to the room daily and posts overly impressive gains throughout the day as he is trading. The gains are very nice and he does not post his trades in advance, stops or any losses.

LOG SNIPPET: http://puretick.com/chat_logs/hotcomm_log_06042007.html

If you read our above room long, notice by 10:30:33 AM EST he's already made +140 on the YM points and no losing trades. A user doing this well has no business in any chat room.

# This impresses the starry eyed newbies who just MUST know what hes doing.

# He exchanges email addresses with the users in a friendly fashion.

# Later on he contacts the users via email and recommends paying for a service called T3 by Next Gen. The owner of T3 has been indicted for false trading claims and is under investigation again.
http://www.puretick.com/temp/CFTCPressRelease4977-04.html

# He also offers the users personal trading advice at the tune of $400 an hour

Once again, we've removed his access from the room. We definitely don't want guys soliciting false hope in our room. Trading is hard. There is no holy grail. Be weary of any user who offers something that sounds too good to be true. We invite users to post their trades in advance, not in hindsight. Keep your eyes open for strange things like this. Alex and I will do so our selves.

Sincerely,

Alex LW & Geoff Preston
http://www.puretick.com
 
FOLLOW UP TO PREVIOUS POST

Just another follow up on this con man Eddie A. Another ET user has just sent us this information tonight. Ed has another partner who has also been indicted and runs a pyramid scam type of web site on the net. If you read over the site, it even gives examples on how to use false positive comments to obtain money from others.

That URL is: http://www.pqi.cc/edabreu/

After reading this site over, it's even more obvious that Ed was using his huge impressive gains and no losses to leur people in to giving him money for indicators and education. He does have knowledge of the field he is working in (which any good con artist does). Please be careful and always be on the look out for con men on the web.
 
Quote from Spectra:

..# Later on he contacts the users via email and recommends paying for a service called T3 by Next Gen. The owner of T3 has been indicted for false trading claims and is under investigation again.
http://www.puretick.com/temp/CFTCPressRelease4977-04.html

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According to the complaint, Novak fraudulently solicited customers by falsely representing that both he and his customers were trading profitably using the Nexgen service. In reality, the complaint alleges, neither Novak nor any of his customers ever profited using the service.
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their software is very impressive in back testing but fells short in live trading. I was in their live trading room for a week and didn't see it make any money, after that the salesman assigned to me was fired because he didn't make any sale.
 
thanks for posting this pubicly cajun. trading is a sumbitch. i wouldnt of believed such claims..perhaps two years ago I may of. I'm back from vacation and will be comming back to puretick this upcomming monday.

wj
 
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