You see an equity curve go from 0 to 12 million in a few years on the internet...

Do you believe its true?

  • Yes, I believe at least some of it

    Votes: 3 21.4%

  • No, I do not believe it.

    Votes: 11 78.6%
  • Total voters
    14
R

retaildaytrader

You see this equity curve of a certain blogger go from 0 to 12 million in a few years. Do you believe this is true? You have not seen the account statements. You have never talken to the blogger directly over the phone or met in-person. He seems to make right calls sometimes. There are a few questions such as how did he trade so much ES without a margin call with the wild swings.

http://4.bp.blogspot.com/_TAnfo557UYE/SutLolsQGrI/AAAAAAAAANU/yqf8nlpxJNg/s1600-h/sp.gif
 
lool that is supposely Sol's performance over at xtrends... if it's true or not I don't know.

The calls are true, the size of the positions i have no ideia... if they are he sure has balls in order to trade 2000 ES contracts at a time...
 
If the record is true, then he would have had a margin call a few times during his track record. There is no brokerage in the world that would let you go through the swings without a call.

Remember, the margin requirements for trading the ES are substantially different then with equities.

As I understand it, there are several other unanswered questions as well. No one has ever seen an account statement. It would take me a few minutes to screen print and imageshack one to put up. Why cant they do it there?

Obviously they go through a lot of trouble to prove to us their record, why not throw up account statements? It only takes a few minutes of extra time...
 
I know how it's done. I think Madoff was able to do it for years. I mean you might as well forge statements with grandiose returns so people don't actually ever ask for their money since it's making money, right?
 
Quote from retaildaytrader:

If the record is true, then he would have had a margin call a few times during his track record. There is no brokerage in the world that would let you go through the swings without a call.

Remember, the margin requirements for trading the ES are substantially different then with equities.

As I understand it, there are several other unanswered questions as well. No one has ever seen an account statement. It would take me a few minutes to screen print and imageshack one to put up. Why cant they do it there?

Obviously they go through a lot of trouble to prove to us their record, why not throw up account statements? It only takes a few minutes of extra time...
More...

I'm no expert but, margin call when the guy only swings for 5-6 points in the S&P with 3 point stops?

thanks
 
You are right. You are no expert and thats how they fool you into believing its true. I can tell you just want to believe its true and thats how snakeoil salesmen sell you their goods. These guys could easily get 500-1000 people to pay them between 50-100 per month for a subscription service and make well over 20 grand a month.

Do you want proof? If I give you proof will you believe? Of course you will still believe so there is no convincing you. I am not calling you a sucker, but its true what PT Barnum said "A sucker is born every minute"

You should educate yourself more so you won't fall for scams so easily. Seriously. You dont want to be a danger to your family for being so gullible.

I will give you one excerpt from So's log. If I had the time, then I could site pages and pages of examples.

However, like I said, no matter what I type you will still believe and this is why snakeoil salesmen sell their subscriptions to you...

Evidence:

According to Sol's trade records. 9-10-09 short 800 ES from 1032.25...max drawdown 9-23-09@1075 intraday=1.7 million in unrealized loss. Account balance: 2.1 million-1.7 million=414k minus the loss from being short 8000 AIG plus X since there may have been more funds in it to begin with BUT intraday maintenance margin=2250 (800X2250=1.8 million). Don't forget overnight maintenance 4500 (800X4500=3.6 mil).

In these situations, your account would go into immediate call with broker liquidation and forced buy-ins.
 
I believe it is true. His calls are made in real time. It is there for everyone to see. The guy really knows how to trade intraday, and has a very good feel for how the market moves.
 
Quote from retaildaytrader:

You are right. You are no expert and thats how they fool you into believing its true. I can tell you just want to believe its true and thats how snakeoil salesmen sell you their goods. These guys could easily get 500-1000 people to pay them between 50-100 per month for a subscription service and make well over 20 grand a month.

Do you want proof? If I give you proof will you believe? Of course you will still believe so there is no convincing you. I am not calling you a sucker, but its true what PT Barnum said "A sucker is born every minute"

You should educate yourself more so you won't fall for scams so easily. Seriously. You dont want to be a danger to your family for being so gullible.

I will give you one excerpt from So's log. If I had the time, then I could site pages and pages of examples.

However, like I said, no matter what I type you will still believe and this is why snakeoil salesmen sell their subscriptions to you...

Evidence:

According to Sol's trade records. 9-10-09 short 800 ES from 1032.25...max drawdown 9-23-09@1075 intraday=1.7 million in unrealized loss. Account balance: 2.1 million-1.7 million=414k minus the loss from being short 8000 AIG plus X since there may have been more funds in it to begin with BUT intraday maintenance margin=2250 (800X2250=1.8 million). Don't forget overnight maintenance 4500 (800X4500=3.6 mil).

In these situations, your account would go into immediate call with broker liquidation and forced buy-ins.
More...

First of all, I was being sarcastic as not beiing an expert...

I do trade on my own for a few years now. I don't care if his trades are true or not, to me it's indifferent.

I do acknowledge though, if true, the guy has balls. Other than that i could care less

Also you state 09-10-2009 an intraday drawdown of 1.7 million with ES at 1070's?Sorry I don't see in my feeds

My intraday high that day is 1044 which he was stopped out at 1043

Again i could care less on his calls I have my own calls to worry about :D

Cheers

EDIT: you're right totally forgot to check the closing date as well... i thought they were intraday.

the positions can be checked here.

Although I don't say i believe (I said i believe in the numbers he spits, not in the volume because I too think impossible too withstand such large dradowns... look at his shorts from March :

a short at 705 points closed at 850 points or whatever it was. (I had the impression there was in those "statements" a 200 point loss for this trade, and now I can't see it... which makes me think they altered it - i'm pretty sure i saw a 200 point loss from those trades, while now it's only a 80 point loss...

you can see the "supposedly" positions at www.xpositions.blogspot.com
 
Haha! They changed their own records. I forgot they are the ones that control scoreboard so any errors can be changed later on after the fact. This is why sites like www.covestor.com are created to settle the scores once and for all.

Madoff should have taught you something. If you do not see account statements, then its probably fake. Why not place up screenshots of the account along with the trades? Well, even Madoff faked the statements.

Now he posted today that he is not making anymore intraday calls. While his credibility is at a high point among the suckers, he is going to blend into the distance and quit while he is ahead. Probably what we will see later on is a subscription site or some other type of scam.

Human nature is such that you want to believe what you see is real. This is how magicians and illusionists made so much money over the years. They saw a woman in half and everyone seems to believe it, but its all slight of hand.

There are mistakes within their records. They have made incorrect calls in the past and they get inexperienced traders to believe the magic. Conmen will keep existing as long as people believe that a woman can still live after being sawed in half.

You only see whats going on on the outside, but there are other very subtle things hidden away. Look closer and you see the woman's legs hidden within a black bag masked by the stage lighting.
 
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