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Options Mentoring
- Thread starter riskfreetrading
- Start date
Quote from dagnyt:
A <i>professional</i> would recognize that a trading record is not flawed. If you want to be a fee-charging mentor who makes trade selections, then you must have a trading record that has been <b>independently audited</b> - for several years.
Mark
The only independent records that should be trusted are (1) the TAX records from uncle Sam himself, accompanied with an affidavit to hedge against perjury. (2) the record I see with my own eye live till I am convinced. As for those audited stuff, it is not worth the paper they are written on in my view. I wrote about the possible manipulations using multiple accounts, in addition the auditors and their clients are not all ...
I trust only facts I witness, math/science results, and the money paid to uncle sam. In addition the money paid to uncle sam should be more than 3 years in the past so that a refiling cannot take place.
In relation to maths and market prediction, did you remember that you wote that it is wrong to say that SPY can move 23 points in 38 days or less, from top to bottom if implied is realized on one side only. You did not conceive of it, and argue so much, because SPY was in $84 area, and the 60s looked so far away for you to be reached in 38 days or less. I did not answer all your back and forth nonsense, because I thought to leave the job to the market to do it. And it did. It has moved $20 (87 to 67) in only half that time (19 days). Check the chart of you still do not believe it. Only $3 less to complete the job, and it still has twice the amount of time.
The above prediction is not some hot words, it is mathematically proven. There is no room for beliefs in a mathematical results.
That is the type of results mentees should receive: scientific results they can trust, with the why proved on a piece of paper so they can understand it and learn the reasons for it in depth.
If you have asked me the mathematical proof, and learned from you, it would helped you in your account the last two weeks-- and during the rest of your life.
Read about the $24 SPY in 38 days or less discussed 15 days ago, right before the beginning of the slide, which at the time seemed to look strange to even non-newbies.
http://www.elitetrader.com/vb/showthread.php?s=&postid=2305778&highlight=pythagoras#post2305778
http://www.elitetrader.com/vb/showthread.php?s=&postid=2305778&highlight=pythagoras#post2305778
To Elite TRADER Members:
Imagine you are in pain, someone comes up to you telling you he will fix all your problems, but the very moment you ask him if he he is a doctor/ has a licence to operate and has experience he'll start talking to you about the weather.
Like dagnyt suggested there are independently audited trading records, but the OP doesn't like the idea of showing you anything.
This was my comment before:
" Are you saying that you would pick the record of someone else, is that what it takes to be a mentor now ?
There is not much to choose either you have a record for the last 3-5 years or you do not.
In the end it is still about whatever you can make money or not, everything else is irrilevant. There is no need to explain anything, or to make excuses.
If one can not make money he'll keep talking bla bla bla..., but if one can make money one can prove it, it is as simple as that. "
If you give him money isn't your right to know if he has credibility before you make any business with him ?
He totally ignored my comment.
Why does this "option mentor" is afraid and find excuses when asked if he can make money ?
Imagine you are in pain, someone comes up to you telling you he will fix all your problems, but the very moment you ask him if he he is a doctor/ has a licence to operate and has experience he'll start talking to you about the weather.
Like dagnyt suggested there are independently audited trading records, but the OP doesn't like the idea of showing you anything.
This was my comment before:
" Are you saying that you would pick the record of someone else, is that what it takes to be a mentor now ?
There is not much to choose either you have a record for the last 3-5 years or you do not.
In the end it is still about whatever you can make money or not, everything else is irrilevant. There is no need to explain anything, or to make excuses.
If one can not make money he'll keep talking bla bla bla..., but if one can make money one can prove it, it is as simple as that. "
If you give him money isn't your right to know if he has credibility before you make any business with him ?
He totally ignored my comment.
Why does this "option mentor" is afraid and find excuses when asked if he can make money ?
You're getting all of the bla bla bla because there is no legitimate track record to display. Instead, you're receiving a bolus of excuses about ways to phony up account performance and fool Uncle Sam.Quote from Loki:
" Are you saying that you would pick the record of someone else, is that what it takes to be a mentor now? There is not much to choose either you have a record for the last 3-5 years or you do not.
In the end it is still about whatever you can make money or not, everything else is irrilevant. There is no need to explain anything, or to make excuses. If one can not make money he'll keep talking bla bla bla..., but if one can make money one can prove it, it is as simple as that.
Why does this "option mentor" is afraid and find excuses when asked if he can make money ?
That's a lot of hooey because it's impossible to poduce a stellar record over an extended period of time by using two accounts.In case you may have not considered it, performance records are not safe, because the mentor can pick and choose, the record may be the record of someone else, and most importantly you can actually reproduce a stellar performance by trading an account under your name against a second account (also under your name). You trade both accounts in way that it serves essentially to move money from one account to another. In net, you do not lose (except commission), but one of the accounts will be a big winner.
So the idea of a trading record is flawed. The real record is the tax filing record, and it has to show that taxes were not offset but paid in dollars.
An old story comes to mind which may possibl just be urban legend about a wannabe newsletter seller (a charlatan). He starts out with 8,000 mailings and he sends a commodity buy signal to 1/2 and a sell signal on the same commodity to the other half.
Next, he divides the 4,000 who got the correct signal into 2 groups. 2,000 get the new buy signal and 2,000 get the new sell signal, again, both on the same commodity.
And the process is repeated one more time and he ends up with 1,000 who got 3 good signals in a row. Now the pitch comes:
" For only $999 dollars, you can receive consistent signals like these and make a fortune. Live easy, vacation hard. Never work again. " Etc, etc.
It doesn't take may suckers to cover expenses and go positive.
What's the point of the story? Imagine using two accounts in order to try to run up a bogus track record. If you only have to make 3 winning trades, it's no big deal. But if you really don't know what you're doing, eg. which trades will succeed, it's impossible to get a track record in one account that has years of successful trading, eg ,100's if not 1000's of trades.
Quote from riskfreetrading:
I trust only facts I witness, math/science results,
I cannot believe you are still writing about this. You do not understand science at all.
did you remember that you wote that it is wrong to say that SPY can move 23 points in 38 days or less, from top to bottom if implied is realized on one side only.
I said no such thing. What I said that you were wrong to <b>GUARANTEE</b> that such a move would occur.
What I said was that you did not understand the words you wee using.,
i see nothing has changed.
I thought to leave the job to the market to do it. And it did.
Do you really believe that because the market moved that far once it is GUARANTEED to do it again. then again, Then again?? You used the word GUARANTEE. It was your usage of that word with which I argued. Yet after all ths time you simply don't understand how to write in the English language.
The above prediction is not some hot words, it is mathematically proven. There is no room for beliefs in a mathematical results.
What was proven? If an event occurs once, it must occur every time? Even you are not that stupid.
That is the type of results mentees should receive: scientific results they can trust, with the why proved on a piece of paper so they can understand it and learn the reasons for it in depth.
What did you prove? Nothing except your ignorance. I am tired of arguing with you. you do not have the capacity to understand.
If you have asked me the mathematical proof, and learned from you, it would helped you in your account the last two weeks-- and during the rest of your life.
You gave your proof. it was inaccurate. It was misleading. it was not written in understandable English. in short, you have proved nothing, except that you are one stubborn person
Goodbye forever,
Mark
MATHS? LOL. Yup, been there, seen that one before.In relation to maths and market prediction, did you remember that you wote that it is wrong to say that SPY can move 23 points in 38 days or less, from top to bottom if implied is realized on one side only.
Sort of deja vu all over again.
Arriverderci, tata and tfmm.
Quote from riskfreetrading:
Hi Dr Cha,
Do you pls know whether doing business via an entity shields the person (me or persons I would hire to do some or all of the work on behalf of the entity)?
Any experience you have in this area will be helpful.
Thank you
Probably yes. But I'm not an attorney, or an insurance professional. You need to get advice from the right places. You should not be taking the word of anyone on this board for anything.