Market Monk

[opm8]

Quote from nzbryant:

I agree with that - I believe a scam artist wouldnt have the brains to make all the very well written on-point posts he has, or the skill to mark up charts as he has, - though I dont get why he needs to do it financially.

I have to disagree. 95% of his blog is cut and pasted material from other trading related sites. The remainder is after-market charts and his vague commentary. It's not too tough to doctor up charts after the fact.

If he gets 10 suckers to pony up $10K a piece he walks away clean after 3 months of blogging. Not a bad return.

Why on earth would he need $10K from each student? It utterly makes no sense. He claims to trade with 200 lots now, making about $200K/day. He claims to have made about 8 million in one of the last days of his 'campaign.' Who in their right mind needs outside money at this point when he has proven he can print it?

My prediction: the blog goes dark the week of Jul 11.

--opm8

 

[talontrading]

Quote from nzbryant:

I agree with that - I believe a scam artist wouldnt have the brains to make all the very well written on-point posts he has, or the skill to mark up charts as he has, - though I dont get why he needs to do it financially.

You're pretty new to this game aren't you? I've met quite a few scam artist who produce stuff at least as good as what this guy has. If you haven't been around the block a few times, you'll be AMAZED at the things scam artists can produce.

If you find it harder to believe a scam artist could write this stuff than it is to believe someone could run $5000 to $8,000,000+ in less than a month you've got problems.

 

[vulture]

Quote from Ripley:

Someone who has $10,000 fee to pay, please try it out and tell us how it goes. I mean, I am sure you could get it all and more back from one or two of his calls most likely...

Mentoring Monastery Requirements:

The following qualifications I consider perquisites in order to qualify for a mentoring position:

1. You have studied all the trading related posts and charts published on my
PMTC blog.

2. You are in the process of reading the books I recommend in the blog and
have read Learning to Trade: The Psychology of Expertise by Brett N.
Steenbarger, Ph.D.
http://www.greatspeculations.com/brett/learning_to_trade.htm

3. You are currently trading stocks and/or futures full time and are
financially supporting yourself via profits and/or savings.

4. You have 5k in risk capital that you are willing to put at risk in a real
money trading campaign following my E-Mini S&P 500 trades that I call in
real time. You must be willing to compound your initial 5k using profits
until you reach at least 50 contracts per trade.

5. You have an additional 10k in risk capital that you are willing to spend
to become a team member of the monastery.

6. You are not afraid of making millions of dollars trading my money, your
own money and that of team members. Believe it or not many people are
scared of success. The responsibility of success is overwhelming for many.

7. You are willing to use QCharts real time charting software.

If you are still interested then please reply to this message with details
about your trading background and any information that you feel would help
me understand you better.

All the best and good trading,

Any guy using QCharts "real time" charting software must be a fraud...Nothing real time about it

 

[vulture]

Quote from opm8:

I have to disagree. 95% of his blog is cut and pasted material from other trading related sites. The remainder is after-market charts and his vague commentary. It's not too tough to doctor up charts after the fact.

If he gets 10 suckers to pony up $10K a piece he walks away clean after 3 months of blogging. Not a bad return.

Why on earth would he need $10K from each student? It utterly makes no sense. He claims to trade with 200 lots now, making about $200K/day. He claims to have made about 8 million in one of the last days of his 'campaign.' Who in their right mind needs outside money at this point when he has proven he can print it?

My prediction: the blog goes dark the week of Jul 11.

--opm8

I spent about 15 minutes reading thru his site. $5k to $8.3 million in 23 days was all I had to know. Then I hear about this "$10k to join the monastery" crap and it sealed it. All these guys debating whether this thing has any merit have gotta get a clue. It aint legit people...

 

[vulture]

Quote from talontrading:

You're pretty new to this game aren't you? I've met quite a few scam artist who produce stuff at least as good as what this guy has. If you haven't been around the block a few times, you'll be AMAZED at the things scam artists can produce.

If you find it harder to believe a scam artist could write this stuff than it is to believe someone could run $5000 to $8,000,000+ in less than a month you've got problems.

PT Barnum made a killing off of guys like nzbryant.

 

[rtstrading]

From MM Blog,

"March 21, 2005:
....In light of the understandable skepticism with which such trading results are usually met, I have decided to have the cumulative profit totals verified and audited by a reputable accounting firm at the end of the campaign."

No Show, No Dough.

So, has anyone been presented with anything that verifies this trading mastery? Probably not...just alot of type written words and historical charts.

Talon called his bluff...what more does anyone need to know.

Enough already!

 

[jrsmee]

The fact that anyone is even considering or believes this con artist for a second blows my mind. It just goes to show why behavioral finance works, because there's obviously people in the market who aren't even slightly rational. BTW, cutting and pasting some charts and other bs is sure a lot easier than reproducing Prada bags and Gucci sunglasses.

 

[nkhoi]

Quote from dtctv:

Just curious: in this board, how many "candidates" have sent out email requests to him and how many have been refused and why?

very few, thank to ET brigade, his pal room is going nowhere fast

 

[talontrading]

I guess the thing that amazes me is that anyone would put up this money. Who would be that crazy? Someone asked why I offered to meet him.... the main reason was I've never known anyone who could make money with Gann... on the .0001% chance that this guy could I was very interested in meeting him... and of course I expected him to back away so I was very curious to see how that would happen.

It will really surprise me if this guy finds anyone to pay him. I mean, even 1 person will make it worth his while, but hard to imagine anyone is that crazy. Speaking personally, I used to teach for a very reasonable fee... had a nice program of instruction laid out... worked with my students 1 on 1 until they created their own system from what I taught... coached them through first steps of trading... and actually had a handful of students do very well. I was asking less than half what this guy charges and only had a handful of takers over the 4 years I offered the program. I think the interesting thing about his approach is he offers enough motivation and other funny stuff that he just might get someone to bite. My marketing ploy was always more like "almost no one is able to trade profitably. I can do it and I can teach you a lot but you probably won't be able to do it even after we work for months together. Want to take a chance?" I felt that was honest but probably not the strongest marketing copy I've ever seen. LOL!

 

[cornholetrading]

Quote from rtstrading:

From MM Blog,

"March 21, 2005:
....In light of the understandable skepticism with which such trading results are usually met, I have decided to have the cumulative profit totals verified and audited by a reputable accounting firm at the end of the campaign."

No Show, No Dough.

So, has anyone been presented with anything that verifies this trading mastery? Probably not...just alot of type written words and historical charts.

Talon called his bluff...what more does anyone need to know.

Enough already!

Nice point. Where did the audited track record go. That was conveniently not updated. You would think that would be the first thing to do if you were going to ask for 10K from people.