John Carter - Hubert Senters - tradethemarkets.com SCAMS?

Quote from marketsurfer:

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 potentia career in music spoofs anyway.
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I think a lot of these scam sites have their guys trading on a simulator. I find it tough to believe a guy who was trading 1 lots can go up to an 850 lot. Also....any trader who was used to trading 1-5 lots then goes to 850 lots and loses 330k would not be as cool/calm as this Hoffman guy is in the video.
 
Quote from RedDuke:

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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As I said, he proclaims every day that he is trading his own live money. That's why if he were faking it would set himself up big time for legal trouble.

I really don't think it's faking his live trading.
 
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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He can claim over and over again it's real. Doesn't mean much considering they can't show any REAL results. The fact he did it in front of paid subscribers doesn't mean the account wasn't in simulation mode.

Hey, if you guys know when he was forced to dump, and the volume spikes up at that point then he probably was trading a real account. The more I think about it, the more unlikely it seems. I know of plenty of traders who have gone on tilt.....but a guy who goes from trading 1 lots to 850 lots...that seems unbelievable.

The problem is , real or not, the guy is a disaster.
 
Quote from jedwards:

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.
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Exactly. This guy Hoffman can re-load his account, trade for the next year making tiny profits every day, but the end result will be he will lose everything at some point. The scale into losers with no plan of taking a loss will obliterate an account.....every time.

If these guys Carter and Hubert are legit, they would drop this guy from their site instantly.
 
Quote from jedwards:

As I said, he proclaims every day that he is trading his own live money. That's why if he were faking it would set himself up big time for legal trouble.

I really don't think it's faking his live trading.
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If he is on a simulator, he's a scumbag and a horrible trader.

If he is live he's just a horrible trader.
 
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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Unfortunately the jail and lawsuit claims never actually happen. The authorities don't seem to care about this kind of thing taking a buyer beware attitude. See Oliver velez and franz shor scandal for evidence. Olli took money and is still operating. No one cares about a simulator regardless of what is claimed based on my observations.
 
Quote from marketsurfer:

Unfortunately the jail and lawsuit claims never actually happen. The authorities don't seem to care about this kind of thing taking a buyer beware attitude. See Oliver velez and franz shor scandal for evidence. Olli took money and is still operating. No one cares about a simulator regardless of what is claimed based on my observations.
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Trading on a simulator and live are 10000000% different. I have never met a trader who loses on a simulator. The two aren't even remotely close.

That being said, if clients/wanna-be traders go to a site and the people teaching are on a simulator, they shouldn't even consider following them.

Simulated trading is not real and has little to nothing to do with real trading. Anyone who backs their claims via simulator has zero ground to stand on.
 
Quote from EPrado:

Trading on a simulator and live are 10000000% different. I have never met a trader who loses on a simulator. The two aren't even remotely close.

That being said, if clients/wanna-be traders go to a site and the people teaching are on a simulator, they shouldn't even consider following them.

Simulated trading is not real and has little to nothing to do with real trading. Anyone who backs their claims via simulator has zero ground to stand on.
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No question about it. Apparently, they are not truthful about the simulator-- sho@r was busted on elite for this. Looks like some folks are questioning trading the markets and its traders about this currently.

My comment was directed at the "going to jail" and "lawsuit" comments. Although some of these scammers obviously deserve it, it never ever happens in the trading education world for some reason.

Surf
 
Quote from jedwards:

If I were John Carter and Hubert I would ask myself if asociating with this trading style is what they really want.
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At least Hoffman is a transparently bad trader. His results make sense. I would be more intrigued to know how John Carter steadily lost 90 % of Vienna's 200K in a matter of a month while on a trip( sorry I don't remember the exact amount and time but you get the idea ). That's quite a performance and it was done with OPM...LOL
 
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