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How I Trade For a Living
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How I Trade For a Living

  #461 (permalink)
Market Wizard
Amsterdam, The Netherlands
 
Futures Experience: Intermediate
Platform: Ninjatrader 8
Broker/Data: NinjaTrader Brokerage
Favorite Futures: CL, ES, NQ
 
GruttePier's Avatar
 
Posts: 993 since Dec 2013
Thanks: 1,961 given, 3,818 received
Forum Reputation: Legendary

While I had my doubts initially if banning was the right thing to do, after reading the referenced sites I believe this was indeed the right thing to do.

Good job in keeping this forum clean, @BigMike


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  #462 (permalink)
Elite Member
san diego
 
Futures Experience: Intermediate
Platform: FXCM MarketScope, NT, Interactive brokers, AMP
Broker/Data: FXCM, Interactive Brokers
Favorite Futures: FOREX, IWM, SPY, XLE, NQ
 
Posts: 219 since Apr 2010
Thanks: 70 given, 122 received

He was acting like he was trading with real money. He had definite stops and would quit when losing. His strategy seemed to be picking a point, riding it as long as you can when you are winning and getting out with a proportionally smaller loss when losing. If you can pull this off, it could satisfy the trader's equation even though you can't pick a spot better than 50%. And the past few days have been range days, where you can enter anywhere and make money. But today was a opening drive selloff trend day right from the beginning, and he started buying against the trend. However, he did act according to his strategy and stop out and quit for the day. I was interested if this strategy actually works since I put much time and effort into stopping my permafader instincts. However, this strategy is way too stressful for me to do myself.

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  #463 (permalink)
Administrator: Retired Backtester
 Vendor: speedytradingservers.com 
Rennes France
 
Futures Experience: Advanced
Platform: NinjaTrader
Broker/Data: IB/Kinetick
Favorite Futures: Futures
 
sam028's Avatar
 
Posts: 3,386 since Jun 2009
Thanks: 3,583 given, 4,033 received



DaxyMcDaxFace View Post
Makes my post at weekend ridiculous. Normally not bad at judging characters.

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I think this one was one of the most difficult to "detect".

A big thank you to the user (I won't give his name) who spent his time in investigating and get some solid clues of the "problem". It would have take much longer to catch the guy without him and all the details he provides.

Success requires no deodorant! (Sun Tzu)
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  #464 (permalink)
Elite Member
Vancouver Canada
 
Futures Experience: Beginner
Platform: Investor RT & Ninja
Broker/Data: IB & IQ DTN
Favorite Futures: ES
 
Posts: 1,106 since Dec 2014
Thanks: 2,132 given, 1,649 received

Does anyone know his real age? Is he really 18?

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  #465 (permalink)
Elite Member
Mount Martha, Victoria, Australia
 
Futures Experience: None
Platform: Acme VP & MP, Jigsaw
Favorite Futures: FESX FGBL
 
Zefi's Avatar
 
Posts: 230 since Dec 2014
Thanks: 128 given, 251 received

I had my concerns about him - the lack of methodology he was giving on this thread and the lack of any form of risk management other than banging on about letting the winners ride and cutting losers short, that old adage. I never attended a webinar so couldn't be so sure that his methods weren't solid.

I do feel let down myself by the aftermath of this and sad for all of those who were caught in the trap. I just hope no one fell prey paying him for the access to the room.

Great job Mike for nipping this in the bud before the weeds destroyed the garden.

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  #466 (permalink)
Elite Member
Irvine
 
Futures Experience: Beginner
Platform: thinkOrSwim
Favorite Futures: ZB
 
Posts: 18 since Oct 2016
Thanks: 11 given, 33 received

Hey all, I'm not sure I understand what he did that got him banned... Did he actually try to charge people for something? I only attended his room a few times and never heard anything that made me suspicious.

I only skimmed thru the links provided by big Mike and what I gathered was that he originally planned to charge and then changed course. Was there recent evidence of a plan to make money from his room?

Maybe I'm naÔve, but I genuinely got the impression he was trying to give back to the community. I know there are a ton of scam artists out there and many of us have been burned by them. I'm just wondering what he actually did that got him banned? I feel I must have missed something.

Thanks to big Mike for being proactive and concerned. I've moderated and administered forums before, and it's not an easy job by any means!

Sent using the futures.io mobile app

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  #467 (permalink)
Market Wizard
Sarasota FL
 
Futures Experience: Intermediate
Platform: NinjaTrader, Sierra Chart
Favorite Futures: ES
 
Posts: 3,711 since Jan 2013
Thanks: 27,175 given, 11,467 received
Forum Reputation: Legendary


jodistrict View Post
He was acting like he was trading with real money. He had definite stops and would quit when losing. His strategy seemed to be picking a point, riding it as long as you can when you are winning and getting out with a proportionally smaller loss when losing. If you can pull this off, it could satisfy the trader's equation even though you can't pick a spot better than 50%. And the past few days have been range days, where you can enter anywhere and make money. But today was a opening drive selloff trend day right from the beginning, and he started buying against the trend. However, he did act according to his strategy and stop out and quit for the day. I was interested if this strategy actually works since I put much time and effort into stopping my permafader instincts. However, this strategy is way too stressful for me to do myself.

There's a problem here that really goes beyond the harm that is done by someone pretending to be an experienced trader in order to gain something -- maybe attention, and usually money, but something gained from others.

Worse than that in its effects is when others believe in what is being put forward, and so adopt a methodology based in part on a personal impression of experience and expertise that is not really deserved.

I'm not saying that this or that method or strategy is good or bad. I'm saying that if a respected trader puts forward an idea, it naturally is given more weight. If the weight is based on a false reputation, but not actual success, then people who follow it are more likely to lose from it, because the guy doesn't really know what he is talking about.

Leading others down a path that just gives them losses is a grave thing to do, especially if your motivation is simply to cash in, without concern for what happens to them. That is, of course, what all the BS-sellers do.

This is why it is so important that @Big Mike runs the very tight ship that he does, with regard to vendors having to be open about the fact that they are vendors, and having to submit to some pretty hard restrictions. (Note: not all vendors are doing this, but some are, or will if allowed.)

Unfortunately, we all have to be aware of the motives of most vendors in this particular space (because there's so much money to be made here.)

No criticism at all of @jodistrict here. Quite legitimately, he wanted to know "if this strategy actually works since I put much time and effort into stopping my permafader instincts." The problem is, that after his experience in the room, how can he, or anyone, actually know? This is the damage that posers who put on a good show do to other people's ability to understand and improve their trading.

Damaging other people's ability to trade on their own is the opposite of the purpose of this forum. Capturing people as followers who can't do it on their own is the purpose of too many vendors (again, not all.)

So, I am glad that @Big Mike is on the watch here. This forum would soon become not a safe space without this watchfulness.

But it's a bummer to have anything like this here.

Bob.

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  #468 (permalink)
Elite Member
Chicago, Illinois
 
Futures Experience: Intermediate
Platform: Ninja
Favorite Futures: ES
 
Posts: 76 since Mar 2013
Thanks: 708 given, 52 received

Has anyone heard Alex's side of the story? I didn't read through everything but I saw that someone accused him of wanting to charge but then he pointed out that it was a fictitious site that he made for a computer class (I actually made something similar to his for a class so I can understand that part). I only logged onto his room a few times but if anything, he seemed to be making a lot of plugs for FIO and had nothing but good things to say about the forum.
Not taking sides one way or the other here because I don't have all the info. Just curious because he seemed like he was making an honest effort to help people out.


Last edited by jdox; November 1st, 2016 at 10:16 PM.
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  #469 (permalink)
Elite Member
Dillon/MT/Beaverhead county
 
Futures Experience: Intermediate
Platform: Ninja
Favorite Futures: CL ES
 
rkmt's Avatar
 
Posts: 12 since Dec 2011
Thanks: 24 given, 15 received

Hi everyone
I attended the live calls as well and in Alexs defense he never asked for mony or indicated he would in the future. He always spoke highly of future io in the room personally I enjoyed watching why and when he would get in a trade hold or cut a trade its rare to get a chance to watch some live manage trades.

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  #470 (permalink)
Elite Member
Beijing China
 
Futures Experience: Beginner
Platform: TradeStation Sierra Chart
Favorite Futures: Emini ES
 
Stray Dog's Avatar
 
Posts: 20 since Oct 2016
Thanks: 15 given, 15 received



bgrosse View Post
Hey all, I'm not sure I understand what he did that got him banned... Did he actually try to charge people for something? I only attended his room a few times and never heard anything that made me suspicious.

I only skimmed thru the links provided by big Mike and what I gathered was that he originally planned to charge and then changed course. Was there recent evidence of a plan to make money from his room?

Maybe I'm naÔve, but I genuinely got the impression he was trying to give back to the community. I know there are a ton of scam artists out there and many of us have been burned by them. I'm just wondering what he actually did that got him banned? I feel I must have missed something.

Thanks to big Mike for being proactive and concerned. I've moderated and administered forums before, and it's not an easy job by any means!

Sent using the futures.io mobile app

My 2 cents was going to be "Hold your horses everyone." What's the scam? Has anyone been asked for money? Has anyone paid any money? I read all of the discussion on tradingschools.org followed all of the links and what I saw were a bunch of practice websites, none of them were finished. I have not seen definitive proof that he isn't who he claims to be.

I didn't really learn much about his trading system and I don't know if he's trading sim or real money and I'm all for keeping the forum clean and free of vendors but banning him without a right of reply or without solid proof seems excessive to me.

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