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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?

  #31 (permalink)
Market Wizard
Chicago Illinois USA
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Platform: Ninja Trader
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wldman's Avatar
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everyone comes here for a reason.

I really do not like to post trades very much...though I have done it and will from time to time. Usually, when I do that now it is in response to a PM or other contact. In the past it is to attract specific assistence in an area where others have strengths that I do not.

There was a thread that discussed trades with charts being posted automatically. No mystery at all why folks don't use that is there? I though about trying to get automated enough to try it because in doing so I would be able to revist each trade and think about it in context. What I'd need is a semi automated strategy where a window popped up asking, is this a good do Dan? A discretionary guy trying to automate is even worse than a method gut trying to do it. So, even if I could get help to make that happen, I have no desire at all for the inquiry that it would bring. But it would be the best way to "journal" in that it is authentic and real time.

A guy that used that code to ship all his trades real time with chart could still be "SIM", but sim in the most legitimate and valuable sense...imo.

So there is an issue with SIM heros and with actual trades being over represented or mis represented. So, why is noboy using that script and posting real time live trades with chart? That would be 100 times easier than trying to screencast a pic with notes. The answer I believe is that serious traders making bank just dont have the time or the reason to do it.

I would love to see just one guy do it for a week.

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  #32 (permalink)
Market Wizard
Sarasota FL
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If the people who frequently post trades will decide to disclose whether they are posting sim or live trades, and why they are posting if in sim, it may become more the expected norm, which could go at least some way toward solving the problem.

Case in point, @Tasker_182 recently posted a sim trade, ( -- scroll to the bottom) and identified it as such, for the purpose of illustrating an application of a technical method, which is totally legitimate.

If more posters did this, there would be fewer questionable postings, and much less danger of new traders becoming confused about what is live and what is simulated, and what the difference is.


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  #33 (permalink)
 R.I.P. 1987-2018 
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I think it's good etiquette to post trades before taking them or soon there after because everyone has the same data and can see if the trades worked out or not. Regardless if you trade sim or cash people can still learn from this type of posting.

If someone is trading really short time frames and thinks they don't have time to post while trading then they should at least make a quick call if they plan on posting a chart later. This is especially for people who have a large following or know for a fact that other people with cash are trading based on their system on the assumption that they themselves have a viable approach.

R.I.P. Joseph Bach (Itchymoku), 1987-2018.
Please visit this thread for more information.

Last edited by Itchymoku; April 11th, 2014 at 12:05 AM.
  #34 (permalink)
Elite Member
Chicago, IL
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I could care less if it is sim or cash...just interested in the method. I enjoy mfb and Jd (alpha) but I take what they and others say with a grain of salt.

Trading performance is about you and how you execute in the heat of the moment. A quote from mike Tyson..."everyone has a plan until they get punched in the mouth"

I have known many million dollar traders over the years. They don't do a whole lot of talking. Maybe it is a Chicago thing......and when they did there talking it was about the losers.....not the winners.

The Market is Smarter than You Are
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  #35 (permalink)
Elite Member
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I have personally met with MFB in the Greater Boston area - and I confirm that he is indeed an honest individual. He always said that he has losers but he is not showing them on the journal. Trading and logging info is not easy and time consuming.

Further more...MFB is a relatively conservative guy when it comes to trading. He is down to earth, a kind person, and always enjoys helping other people.

I have met MANY Snake Oil sales people in this industry (unfortunately this is the natural path of development for every new trader) - with "age" I have learned to decipher / filter and see who is the real deal.

READ MFB's journal carefully - just recently he admitted that he is NOT ready for other instruments and that he doesn't take major risks due to not having "deep pockets" as other major traders out there - now if that's not humility - I do not know what is

Even if MFB or someone else showed you their Winners +Losers with a system that has an 80% positive probability - that doesn't mean you can trade it successfully - it may not meet your trading style/personality and you will "F$^&*%^" it up (Pardon the language)

My 2C

NOTICE: I have all the affiliations with MFB to take money out of your pockets into ours....just kidding (Got to love all them notices about "Trading is for training purposes only and you are at risk of losing all your money"..haha

LogicalTrader View Post
You are mistaken. No one posting over there says that those are the only trades they took. They choose to post trades that best represent their setups. No one said they dont have losers. The thread has always been about sharing setups, patterns that occur repeatedly, information that helps other traders. If you dont like what is shared over there, no one is forcing you to click your mouse and open that page. Just simply dont. And then you are pissed off that he put you on the ignore list?

I guess the mind really sees what it wants to - not just in the charts.

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  #36 (permalink)
Elite Member
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If MFB was selling something as a vendor- then i would agree a 100% with you - but you should be thankful for the "bread crumbs" that MFB is feeding you


jsengxx2 View Post
Hi Silver99,

If you read what I said then you can read ´´ most of the members´´ you high lighted it in red!

If you take a closer look at the thread you will find allot of contradicting information high lighted by mfbreakout and if you have a question you never get a clear answer from him.
But if you like it just keep on following. I just cannot understand why someone is keeping a ´´journal´´ and only is posting winners! Is it not supposed to be that you can learn from your mistakes or maybe he is doing it with a second intention for the future like others have done before, just come here and make a good impression and then beginning for themselves, selling courses or doing trade calling stuff.

Good trading,

  #37 (permalink)
Elite Member
Memphis, Tennessee
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If you somehow know someone is faking their trades, is it your responsibility to inform other forum members?

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  #38 (permalink)
Elite Member
Bay Area California
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Dishonesty should not be tolerated.
Is tolerating dishonesty not inherently dishonest?

"If I agreed with you, we'd both be wrong."
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  #39 (permalink)
Elite Member
Melbourne, Victoria, Australia
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DarkPoolTrading View Post

The learning comes from the mistakes.

Actually it comes from both. Well executed trades (regardless of P&L result) when reviewed reinforce what you should be doing. IMO too many traders starting out are focusing on NOT doing this, that and whatever else... and end up with a list longer than their arm of what not to do. I think it is effective to focus attention on repeating what is working.

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  #40 (permalink)
Market Wizard
Birmingham UK
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deltason View Post
If you somehow know someone is faking their trades, is it your responsibility to inform other forum members?

Yep. If it's fake it's fake. If it's for illustration and education purposes then that's fine so long as it says so on the tin. If not, then a friendly call-out or hint is needed first, maybe something stronger later, as we all know what internet flame wars are like (and will get much worse if hairy bear resumes.)

addchild View Post
Dishonesty should not be tolerated.
Is tolerating dishonesty not inherently dishonest?

Yep. There are many good reasons why golf cards get checked - but the most important reason of all is that at the end of the day the only person that gets fooled by posting a fake card is the player.

The poll was easy to answer, I don't actually see how anybody could have sanely clicked 'Yes' - the important word was Pretend.

That said, I am also happy to say that I have learned a lot from the thread mentioned, but that is what it is - a thread, not a journal, and should be clearly treated as such, otherwise we all get fooled and suffer accordingly.

Travel Well

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