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Must have books for "Price Action" trading.

  #20 (permalink)

central florida
Posts: 192 since Jul 2014

kevinkdog View Post
Please explain.

I have had multiple conversations with NFA, CFTC, IRS and experienced lawyers and CPAs in this area, and not one has said it is illegal to show actual trading performance.

What is illegal is showing any kind of performance (fake, real, hypothetical, etc) without the required government disclaimers. Some have thought they could show actual performance with the hypothetical disclaimer, and that is not true.

Please correct me if you see this as being wrong.

That is very interesting. But like i said there is a lot of gray area on this subject. I view it similar to that of medical marijuana. It is legal at the state level but not the federal. So is it legal or illegal? Depends on who you ask and is subject to discretion. Showing a trade work out or not is one thing but recommending trades in a room or real time are two different things. The later would require some form of financial planning certification from the research i have done.

Perhaps i am wrong. You seem to have better contacts than I do in the legal field of trading, and i am not a lawyer. But after looking at many trading education websites, I have yet to find one who shows their trades or performance, and the ones that have are frauds. So this is not solely an Al Brooks issue and leads me to believe there is something more to it than being complete BS.

If i knew for fact it was legal, I would consider sharing my performance along with my review once my website is operational. Until someone can say with certainty it is legal I think it is risky and most (or all) will continue to share their insight, but not results.

Either way, good conversation. And I hope you do not think I am trying to challenge you personally.


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