I would surmise that being an expert spreader across the global marketplace would have a longer life expectancy than being an expert in a single particular market niche. While I have no evidence right now to back this up, it just seems correct to me due to the ever changing nature of the markets. surf
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- Thread starter bone
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I would surmise that being an expert spreader across the global marketplace would have a longer life expectancy than being an expert in a single particular market niche. While I have no evidence right now to back this up, it just seems correct to me due to the ever changing nature of the markets. surf
Knowing how to spread does not necessitate actively trading hundreds of spreads. Even watching a handful of curves provides opportunities across hundreds of combinations from calendar spreads, flies, condors, cross asset spreads, etc. etc.
Bone is teaching a system that has been profitably employed by thousands of traders throughout history. This entire thread wreaks of pitchforks and ignorance.
Bone is teaching a system that has been profitably employed by thousands of traders throughout history. This entire thread wreaks of pitchforks and ignorance.
I understand that I'm a member of the ignorant rabble but in my defense, I think we aren't discussing the same topic. All of bone's critics aren't questioning the effectiveness of spread trading but rather his unique method. Bone himself has stated that scanning 800 spreads will provide 2 solid trades a week. That sounds great but it is hardly the same as hundreds of trades a week.
You are correct. That is my mistake and I apologize for it.
I have followed this thread for the last several weeks hesitating to involve myself in what appeared to be a witch hunt, however this has gotten out of hand.
Risk management should dictate the number of trades available at any given time. If you watch 800 spreads, guess what, you can put on 800 trades, but what would be the point? If only 2 of those spreads feature high probability, low risk setups (that are ultimately subjective), then why is that bone's fault? Furthermore, volatility regimes are dynamic and what is 2 trade ideas today might be 200 tomorrow.
Bone is teaching people how to fire a gun. Hitting the target is the responsibility of the shooter, not the teacher.
It is not bone's fault that there aren't more trades. It's about the deceptive marketing. Why not just say "2 quality trades a week" instead of "hundreds of spread combos" and trade everyday. And there is more...
Using a client to verify your p/l statment? Presenting paper trading profits as proof of an effective method? Redacting webpage copy? Here is some of the old copy which has been removed:
Fade the crap out of 1 sigma moves, and add to that slow but steady trending market until it decides to make the turn nice and easy like the U.S.S. Nimitz trying to dock at Tokyo Bay. Go to town - every day.
His website copy is drastically different today than his previous marketing hyperbole. Take a few minutes and compare the two websites.
http://web.archive.org/web/20140106070640/http://www.spreadprofessor.wildapricot.org/ - old
http://www.spreadprofessor.wildapricot.org/ - revised
I see no issue here.
If they are denoted as "paper trading", then I see no issue here.
Again, no issue here. Prescient people gauge the market and respond accordingly. If he wanted to update, delete, amend, or add to his website, I have no cares.
So you're taking issue with the "1 sigma" comment, but not the suggestion that Stevie Wonder and "your grandmother" can point out a trade in the previous sentence? So one sentence was obvious hyperbole, but the next was pure, nefarious fraud?
I don't understand this "destroy the vendors" mentality on this site. These guys pay for this site and should be respected for that. Sure, sometimes there is some hyperbole, its called marketing. Just like Tony the Tiger on frosted flakes. These folks would argue that Tony isn't real so frosted flakes must be a scam. Come on gentlemen, relax a little! surf
Dude...there are so many more hyperbolic statements on that old webpage. I guess I can catalogue them all if I have to.
The point is that until posters on ET called him out, he didn't change his marketing style. There is a stark difference between his old copy and new. There is no obvious fraud here which is why trading education is an awesome business model.
A vendor can hint, tease and imply that easy profits are available if you just Buy Now! "Fade one sigma moves on spreads that turn like the USS Nimitz!" "Even Stevie Wonder could have seen that spread entry!" Throw up an account statement verified by a client and that is all the evidence that is needed.
I think this issue will never be resolved. Posters on ET have two divergent interpretations of ethics. But we can all agree on one thing: no vendor will make you profitable. The onus is on the trader to become successful.
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It goes way beyond harmless marketing and you know it. One minute his website is talking about easy one sigma fades, the next minute it is talking about hundreds of hours of training with no guarantee of profitability. I get the mentality. Trading is darwinian. If you see a sucker, it is your duty to F#%! him over. Dog eat dog right?