Quote from Mikeatrader:
I sat in the room for a few months and watched him trade... at first it seems very impressive- then you realize that amount being risked is so high- that you could equal the results he shows with a simple muni bond or annuity- and here is the kicker- the bonds or the annuity have almost no risk- and require zero effort. I assumed he had a couple million sitting in the account- so to produce 200k or so in a year isn't a big deal. He just lost 312k, It will take him a year and a half or so just to get back to even- then another big smack will come. All that with a couple of million of risk capital. Something to think about.
Quote from DT-waw:
these guys are just great.
they provide service of immense value to clients: hard, pain-in-the-ass education.
TTM probably educated more than 10,000 traders how NOT to trade.
they deserve every million dollars earned on these poor, greedy, lazy and ignorant people- clients.
but still, thousands more wannabe traders gamblers want to be rich the next weekend.
this is exactly what people want: marketing sh!t. CNBC logos, smiling faces, colorful dynamic charts with lotsa indicators and that kind of horsecrap. who cares whether their strategies have inner edge? no'freakin;body.
Quote from DT-waw:
i've seen people losing $100,000 to some churning snake oil scamsters. many times in a row.
the same clients who were given a chance to trade with profitable signals (no averaging down, lots of small losses, letting profits run) could not decide to try it.
conclusion: honest signal providers or online chat room operators who make money will never ever offer the service, simply because there is ... yeah, you bet.... no demand for such trading.
Quote from DT-waw:
even after 50 scamsters are exposed, busted... revealing that they've used the same method: averaging down, without the stoploss....
still, none of these thousands of losers will get a clue what happened, why, and how to avoid it next time.
Quote from emg:
u should post them in the scam list:
http://www.elitetrader.com/vb/showthread.php?threadid=212110
