John Carter - Hubert Senters - tradethemarkets.com SCAMS?

Quote from EPrado:

This is a beaut:


"Our services are not structured around track records. We provide our services to assist members in learning how to trade on their own and not based on past performance"


Of course....why would new traders want to learn from people who actually make money trading and have a track record.
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Normally a regular snake oil salesman that just lose a bit on the market, nothing meaningful, says on its website he can provide track records to attract new clients, but fail to produce it on actual demand. If these guys are putting this on their website, they must be loser of epic proportions...
 
Quote from joneog:

Ya, it would not be easy or painless. He could use an iceberg and/or try to offset in something bigger.

It's basically a time-risk vs. price-sensitivity trade-off: you can sit small on the offer and trade 1-2-3-4-5 lots into the bid and hope the market doesn't tank in the meantime or you can be agressive and fight your own position. If you're too aggressive you'll just end up giving free money to the index/stat arbs.

I'm also curious what the risk managers at the brokerage were saying:

"Hey joe this guy just got liquidated pyramiding up to an 850-lot-loser in the Russell, and he was trying to add more!"

"What kind of idiot turns a 100 loser into an 850+ loser, in the f'n Russel?"

"No, it started as a 1 lot"

"..."
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Who knows if he was even really trading a real account. He claims he is, but the fact that he can't show any kind of statements leads me to believe he might be on a simulator. A lot of these scam firms show an order book on their videos....but it's a demo.

I don't watch the russell futures, but at the time he imploded there had to be some kind of quick downturn as his brokers puked out his position. If not...well...then there's your answer. He isn't trading live.
 
Quote from TraDaToR:

Normally a regular snake oil salesman that just lose a bit on the market, nothing meaningful, says on its website he can provide track records to attract new clients, but fail to produce it on actual demand. If these guys are putting this on their website, they must be loser of epic proportions...
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I couldn't agree more. They are basically saying :

"We are not in the trading biz to make trading profits, but we will show you how to make profits....even though we don't know how to make profits".
 
Quote from marketsurfer:

Is this another Fran$ Sho@r in the works???
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The same thought crossed my mind as well. Wasn't his strategy called Bull's Eye or something like this :D
 
Quote from RedDuke:

The same thought crossed my mind as well. Wasn't his strategy called Bull's Eye or something like this :D
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Exactly, plus trading 100's of contracts on a simulator. Wonder what happened to him?

Ever see the John Carter music video? He has a potentiaL career in music spoofs anyway.--- the weird al of trading music videos. :D
 
Quote from EPrado:

Who knows if he was even really trading a real account. He claims he is, but the fact that he can't show any kind of statements leads me to believe he might be on a simulator. A lot of these scam firms show an order book on their videos....but it's a demo.

I don't watch the russell futures, but at the time he imploded there had to be some kind of quick downturn as his brokers puked out his position. If not...well...then there's your answer. He isn't trading live.
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Let's not get ahead of ourselves here.

Hoffman blew up his account in front of hundreds of paid subscribers. He has claimed over and over again that he is trading his own real money.

If he were faking it 1) He would go to jail for fraud and set himself up for civil lawsuits. 2) Why would he let his account blow up like that and lose a bunch of subscribers?

Hoffman apparently has a lot of clout with Infinity Trading. I doubt they would want to associate themselves with someone who was fake-trading hundreds of contracts on their simulator.

I'm not sure how Infinity flushes a position but I was going through the volume and there are plenty of places where it could have accommodated that size of a position. If anyone knows the exact time of the flush I can see precisely if there was that level of volume.
 
Quote from EPrado:

Who knows if he was even really trading a real account. He claims he is, but the fact that he can't show any kind of statements leads me to believe he might be on a simulator. A lot of these scam firms show an order book on their videos....but it's a demo.

I don't watch the russell futures, but at the time he imploded there had to be some kind of quick downturn as his brokers puked out his position. If not...well...then there's your answer. He isn't trading live.
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time and sales would put all the speculation to rest.
 
Quote from jedwards:

Let's not get ahead of ourselves here.

Hoffman blew up his account in front of hundreds of paid subscribers. He has claimed over and over again that he is trading his own real money.

If he were faking it 1) He would go to jail for fraud and set himself up for civil lawsuits. 2) Why would he let his account blow up like that and lose a bunch of subscribers?

Hoffman apparently has a lot of clout with Infinity Trading. I doubt they would want to associate themselves with someone who was fake-trading hundreds of contracts on their simulator.

I'm not sure how Infinity flushes a position but I was going through the volume and there are plenty of places where it could have accommodated that size of a position. If anyone knows the exact time of the flush I can see precisely if there was that level of volume.
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Let me just say however, that this entire episode has left a bad taste in my mouth with regards to Trade the Markets and Hoffman. I've always felt that it was a scary way to trade and getting flushed seems like the only end game, at least the way that Hoffman trades.

I like Trade the Markets, but I don't know why they are using Hoffman's methods as a way to teach newbies. I don't quite think John Carter and Hubert are scammers, but Hoffman has a lot to answer for IMHO. If I were John Carter and Hubert I would ask myself if asociating with this trading style is what they really want.
 
Quote from jedwards:

Let's not get ahead of ourselves here.

...
If he were faking it 1) He would go to jail for fraud and set himself up for civil lawsuits. 2) Why would he let his account blow up like that and lose a bunch of subscribers?
...
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Not necessarily, as long it is said somewhere in small print that all results are hypothetical, no legal issue. Franz did not have any after he was exposed, and if I remember correctly he just moved on and set up new website to continue "coaching".
 
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