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Should sim traders who pretend to trade cash be allowed on BMT?
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Should sim traders who pretend to trade cash be allowed on BMT?

  #161 (permalink)
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BTW, if anyone is reading this thread and thinks to themselves "I'm not going to post to my journal anymore because of this", then there is really only one question that should be the deciding factor.

That question is simply "Am I purposely deceiving people or lying about my trades?". If the answer is yes, then yes by all means stop posting and stop coming to the site altogether. But if the answer is no, then you have nothing to worry about and you are using the journal as I have intended -- a way to learn that benefits yourself as well as others.

Mike

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  #162 (permalink)
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Big Mike View Post
I think you have the wrong idea. I have not defined any additional rules. What is mentioned in this thread are numerous suggestions at this point.

In addition, saying that it outweighs the benefits makes no sense to me, because you can look around at the hundreds of active journals on the site, and you don't see any negativity in them. Even from those journals who are "breaking the rules" suggested in this thread, there is not a hint of any kind of negativity because of it.

I believe you've made a rash decision.

Mike

Fair enough. And you are right, it is some of the folks in the thread who are making suggestions for stricter rules etc. It is not you. I will wait and see how this plays out.

 
  #163 (permalink)
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wldman View Post
If someone provides their own audit trail that is as verifiable

There is no such thing, for the masses, in my opinion.

It has been talked about in other threads, but briefly -- you can fake anything. You can have a 100% legit broker statement that shows you made a killing, when in fact you had four other broker statements that you didn't show where you lost 10x as much. You can go long one account and short the other and post the winner. You can Photoshop.

You can do any number of things to lie to people and I won't be elevating those who know how to deceive others by putting any kind of weight behind such a movement (audit trail, verifiable, etc).

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
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2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
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6)
Help using the forum? Watch this video to learn general tips on using the site.

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  #164 (permalink)
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Agreed Mike...

but that makes the assumption that participants WANT to mislead. I try to demonstrate in the journal thread how simple it is to post legit trade information with a few clicks....fewer clicks actually than most of the trades that get posted...with all kinds of cheering and jargon in captions with arrows.

Click executions, take a pic and include partial acct #, post...pretty simple.

So that is what I meant by audit trail...and yes it could be faked.

 
  #165 (permalink)
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wldman View Post
but that makes the assumption that participants WANT to mislead.

I understand.

The best thing I've come up with (several years ago) is a trading competition where I provide paper accounts to those who enter and futures.io (formerly BMT) tracks/posts the results. Unfortunately, the CME has not allowed me to do it so far. I'm still trying.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

 
  #166 (permalink)
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I understand...

I'll avoid the urge to out the snake oil salesman and I'll try to be as transparent as possible in my own posting. If everyone did that it would go a long way to "fix" the minor issue that has now gotten way too much time from all of us.

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  #167 (permalink)
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Big Mike View Post
When there is a large group of people, it is extremely difficult if not impossible to please everyone.

In the last 24 hours, 8,232 people have used the site. Just because a very tiny fraction of those (say, less than 10, which would be less than 0.1%) abuse the good nature of the site by posting knowingly fake/false/deceiving journals doesn't mean that the other 99.9% of people can't go on enjoying the benefits of the forum.

Like I stated before, it was my hope that this threads very existence would be enough to compel the liars to go away. So far I can't say that it has. The reason I have not banned these people flat out is because I only have my experience as a trader and my experience as a forum admin to tell me these people are liars, where the liars have a large following of what I would consider naive people.

That means that if I were to ban them then it would cause a bunch of drama. It is better in my opinion to just get them to leave or grow up and stop deceiving others. That way no time is spent trying to convince their followers of their ill deeds, or vice versa.

Mike

I completely agree with plenty of what you've written here Mike. Just to clarify, I misread what the fellow originally wrote hence before you posted this I had edited / retracted what you've quoted here.

Personally my view on the best way to deal with the liars is to ignore them and try to continue to educate the community and the naive and dishonest folks will expose themselves as time wasters naturally.

 
  #168 (permalink)
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Big Mike View Post
BTW, if anyone is reading this thread and thinks to themselves "I'm not going to post to my journal anymore because of this", then there is really only one question that should be the deciding factor.

That question is simply "Am I purposely deceiving people or lying about my trades?". If the answer is yes, then yes by all means stop posting and stop coming to the site altogether. But if the answer is no, then you have nothing to worry about and you are using the journal as I have intended -- a way to learn that benefits yourself as well as others.

Mike

Mike,

Why don't you simply identify the posts or journals which you think are deceiving people. Maybe keeping a thread just for this purpose. To be honest, i have a hard time figuring out who are the members who regularly post false trades. At first, i thought you were thinking about gaby or mfbreakout but honestly i just don't know. They appear to me as good traders. I like some of their trade ideas but i will never try to copy them. Welly is another name that comes to mind but again i like his style or what he is able to do on the ES.

Can you point them out?

 
  #169 (permalink)
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trendisyourfriend View Post
Mike,

Why don't you simply identify the posts or journals which you think are deceiving people. Maybe keeping a thread just for this purpose. To be honest, i have a hard time figuring out who are the members who regularly post false trades. At first, i thought you were thinking about gaby or mfbreakout but honestly i just don't know. They appear to me as good traders. I like some of their trade ideas but i will never try to copy them. Welly is another name that comes to mind but again i like his style or what he is able to do on the ES.

Can you point them out?

I swore I was not gone to mention names, because you then get in fights with their followers. Please followers ignore my response.

But I had to respond to your post. You are right you can never be 100% sure, but IMO I am 99% none of the names you mention are trading live or posting all their trades. One hint is when people ask them question and instead of any intelligent answers you get ... I won't say it; just read their post for yourself and decide.

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  #170 (permalink)
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trendisyourfriend View Post
Can you point them out?

I can, but won't (at this time) for reasons I previously stated.

They know who they are, and most people reading this thread know who they are. You would think that would be enough to get dishonest people to go away.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

The following user says Thank You to Big Mike for this post:

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