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Must have books for "Price Action" trading.

  #21 (permalink)

Market Wizard
Cleveland Ohio/United States
 
Trading Experience: Advanced
Platform: Tradestation
Broker/Data: Tradestation, DeCarley, others
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mastercraft29 View Post
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.

Josh


I think the real reason why most educators/trading rooms do not show performance is because there is no profitable real performance to show.

Because of that, they invent a thousand untrue excuses why it is illegal to show performance. And most sheep fall for the sweet talking slime bag educator. People want to believe these fraudsters make money from trading - but most do not, they make it from the education fees.

I had a conversation with some knucklehead vendor a few weeks ago about this. This vendor interpreted a Ninja ecosystem statement "cannot show performance unless conditions X, Y and Z are met" to mean "cannot show performance EVER." When confronted with the truth about showing performance, the vendor eventually slithered away - without disclosing any performance. Pretty typical.

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