There goes $1,000 out the window!

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Quote from Spectra:

Just wanted to inform everyone of the most excellent news! TxTrader is the grand prize winner of the March 2007 trading contest. As you may know, we had a contest in March to see who could put on every trading call (as shown on the track record). Whoever came the closet would be given $1,000 cash. Most of the entries I receive from traders showed that they were trading 4x or more times the amount we were each day. Over trading is the bane of many aspiring traders. Congratulations to TxTrader for keeping his calm and exercising discipline in this chaotic market.
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I think that is a good incentive you guys came up with. My question is did TX Trader make more per contract than the other trader whom did not follow your calls, excluding the 1k, or did it pay to break the rules?
 
Well that was the idea. A practice is execution and discipline. The winner did not take every trade but he came the closest to doing so out of all the entrants. We'll probably do something similar again soon but maybe span it over a week instead of a month.

No the winner did not have to show a profit in his account. Hey may of been trading other markets while participating in our little contest.

CajunSniper / Puretick.com Administrator-Trader
 
Quote from Spectra:
Well that was the idea. A practice is execution and discipline. The winner did not take every trade but he came the closest to doing so out of all the entrants. We'll probably do something similar again soon but maybe span it over a week instead of a month.

No the winner did not have to show a profit in his account. Hey may of been trading other markets while participating in our little contest.

CajunSniper / Puretick.com Administrator-Trader
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caj- of the trades that he did take of PT, did he make money? If so, how much?
 
That's a question for Tx to answer. He did make money for the month. I do not want to start giving out too much information on his personal account. I know he has an account on elite trader. I'll shoot him an email and see if he wants to share his stats publicly.


CajunSniper / Puretick.com Administrator-Trader
 
I usually don't give most threads on ET a second thought but as this thread has progress I keep coming back to an "Education Vendor" who is actively trying to get customers to take every "recommended or suggested" trade as possible. I think that this is no longer education but trading/investment advice which falls under at a minimum a series 7 but more under a series 65 RIA.

I'm not trying to start some flame war. Just having a hard time separating education from getting customers to take trades. Paying someone to take trades is where I'm coming from.

just my personal opinion, your mileage mary vary.

Good luck and good trading.

Bsulli
 
Quote from Bsulli:

..
..Paying someone to take trades is where I'm coming from.
..
Bsulli
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yes, this is in contrary to the usual mode of well-customer-don't-follow-me-call-what-can-I-do-shrug paid room attitude, highly unusual. :)
 
Quote from nkhoi:

yes, this is in contrary to the usual mode of well-customer-don't-follow-me-call-what-can-I-do-shrug paid room attitude, highly unusual. :)
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I think Puretick's intent was well meaning in an attempt to validate the quality of their service but stepped well over the line having read the study materials for both the 7 and 65 in regards to the exchanges of monies for services.

nothing against puretick I just think vendors in general have been pushing the envelope more and more in the past few years trying to bring in paying customers.

Personally I think the line between education and trade entry/exit recommendations is getting blurred beyond recognition with some vendors in the marketplace.


again just my personal opinion.

Bsulli
 
Quote from Bsulli:

I think that this is no longer education but trading/investment advice which falls under at a minimum a series 7 but more under a series 65 RIA.
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It's a grey area that is for sure. Since they are trading futures, a Series 7 does not apply here, a Series 3 would. They fall under the regulation of the NFA / CFTC, not the SEC.
 
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