What are the legalities of this?

Quote from dunitlongpole:

Why is it illegal though?
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My ex attorney was the former head of whatever the regulatary body is in Florida that financial advisors etc have to sign up with, trust me, there is nothing illegal about it and there is no need to have any registration.
 
The idea sounds perfectly legal, but there's definitely a need to cross your T's and dot your i's. As another post said, all will be well until you hit a drawdown and everything has been recorded. You have to know your stuff and be ready to know it will be recorded by others in the room.
 
Quote from dunitlongpole:

I Think as long as a detailed disclaimer is included, legal action wouldn't be that big of a problem....Why is it illegal though?
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People can and probably have sued a ham sandwhich, so if you do it for long enough you will get sued, but like I said its a pretty simple matter to protect your assets with good attornies.
 
Quote from dunitlongpole:

Would it be a problem if I traded along to? Or can I just advise...?
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I usually took the trades, you just have to be upfront in either case, if you are or are not.
 
Quote from dunitlongpole:

Would it be a problem if I traded along to? Or can I just advise...?
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You don't want to "advise" anything. You trade, they watch and do what they want. It's all on them.
 
Quote from dunitlongpole:

If I was consistently profitable, wouldn't people pay?

(I am not saying that I am consistently profitable...yet)

It's like buying signals, but more discretion and interaction is involved
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And how much would you charge for this, IF this was already up and running. I know a guy that charges 500.00 for 3 months worth of "training" in an IRC room called "Thedaytradegroup". I dont use it.

cm
 
If you trade so well you don't need their money. Use your system with your own money and keep your method a secret. Oh wait, that's probably not possible is it?
 
Quote from dunitlongpole:

If I was consistently profitable, wouldn't people pay?

(I am not saying that I am consistently profitable...yet)

It's like buying signals, but more discretion and interaction is involved
More...

So you're not consistently profitable but you expect people to pay money for the trades you call out? Who do you think would actually pay money for someone with no track record? I never cease to be amazed at what I read here on ET.
 
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