Where does he say what his predicting strategies are?
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Trader Loses $377,000 Day Trading TSLA
- Thread starter realtrades
- Start date
Where does he say what his predicting strategies are?
He's up over $1M this month so far. Sweet.
I would have liked a lower max loss. Pretty scary.
I would have liked a lower max loss. Pretty scary.
Each trade stands alone. I would guess most individual traders account's (regardless of size) don't allow for losing 7 days days of profit. If this guy's does, so be it.Only gave back 7 days of profits, probably take 2 weeks to make it back.
But saying "probably take 2 weeks to make it back" says his account probably doesn't either. Once again someone erroneously using the rationale playing with house money. The blow up question is - when, not if it'll likely happen.
He did various things to demonstrate that it's not a sim account. See my post #28 in that thread you posted.Most likely yet another sim trader, yawn
real traders don't survive long without proper risk control
Sim is so easy to bet big, lose 500K , reset to 2M, even a 5 year old can do it.
https://www.elitetrader.com/et/threads/madazmoney-scam-or-legit.340940/
He did various things to demonstrate that it's not a sim account. See my post #28 in that thread you posted.
A video instead of proper audited pnl track record. I guess youtube is going to acquire SEC soon.
their disclaimer
You understand, acknowledge and agree that Madaz Money and its directors, officers, shareholders, employees, contractors, agents, and affiliates are not obligated to notify you as to which trades and returns are real versus simulated or hypothetical, and that Madaz Money, and its directors, officers, shareholders, employees, contractors, agents, and affiliates do not verify moderator trade records or maintain records of moderator trades and results, and that moderators have no obligation to provide Madaz Money any data.
You understand, acknowledge and agree that Madaz Money and its directors, officers, shareholders, employees, contractors, agents, and affiliates are not obligated to notify you as to which trades and returns are real versus simulated or hypothetical, and that Madaz Money, and its directors, officers, shareholders, employees, contractors, agents, and affiliates do not verify moderator trade records or maintain records of moderator trades and results, and that moderators have no obligation to provide Madaz Money any data.
Standard legal verbiage, doesn't imply guilt or fraud. Check out other trading services... or the similar fine print for virtually any product you buy, subscribe to, etc. It's the smart thing to do from a legal perspective regardless of whether you're honest or not... and yet, it doesn't shield you either from SEC criminal prosecution, for example, if you truly are guilty of fraud.their disclaimer
You understand, acknowledge and agree that Madaz Money and its directors, officers, shareholders, employees, contractors, agents, and affiliates are not obligated to notify you as to which trades and returns are real versus simulated or hypothetical, and that Madaz Money, and its directors, officers, shareholders, employees, contractors, agents, and affiliates do not verify moderator trade records or maintain records of moderator trades and results, and that moderators have no obligation to provide Madaz Money any data.
Each trade stands alone. I would guess most individual traders account's (regardless of size) don't allow for losing 7 days days of profit. If this guy's does, so be it.
But saying "probably take 2 weeks to make it back" says his account probably doesn't either. Once again someone erroneously using the rationale playing with house money. The blow up question is - when, not if it'll likely happen.
this is why i don't like his trading style...
this is why i don't like his trading style...
the only reason it works is because, aside from his indicators, he follows his entry and exit rules to a T most of the time.
If you can follow your rules to a T with your own money on your own account for several trades and feel confident then scaling is nbd. Thats all he has done.
Just look at his volume its like 5k+ shares at a time.