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1. The fact that he was heavily promoting it outside of FIO. If he was giving back to community, then why promote outside of FIO? Unless his objective is to get as many people as possible into his room.
2. I read through his original journal in elite section. He blew his combine. He started another one (150K), started good, then seems like got almost to blowing it up, and after that he stopped posting into journal. Three month later he is consistently profitable and apparently funded with TST. With no proof to show. Kind of weird. I would expect him at least posting into journal regarding getting funded, it should have been super exciting news to share in his journal.
3. All the other posts by other members here showing more controversy.
He slates them in one post. Not sure the issue with these posts tbh, it's before he was affiliated to them and one is very very negative about GTR, admitting he got 'suckered in'.
It never ceases to amaze me how asking for actual proof of claims in the day trading business is an "EVIL". No other business operates this way. And lets say the regulators finally decided to regulate this industry. What do you think the first thing they will ask for; Brokerage Statement for proof.
And to top it all off this kid was associated with Global Trading Room. If that does not say something I do not know what does.
As for BM. He is providing a forum for these vendors. Let me ask you do you think NT should be held responsible for the people they let promote without checking any credentials what so ever. I do and I hope the regulators finally crack down and we will see. I have NO doubt BM knows Al Brooks and these other Micro Scalpers are scammers, yet he gives them credibility by allowing then to put on webinars. In fact he once called out the Rock Star Journals, which were all fake.
With Emmett's site the truth is finally being told about these scammers and the regulators are finally closing them down like Open Range Trader who posted all fake results. And sadly he was not the exception in this business.
If someone thinks some 18 year old kid who shows no proof of trading profitable is going to teach someone to scalp ES profitable, then they are the fool born every minute.
Massive l
OR/USA
Legendary /NQ Trader
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Posts: 2,129 since Mar 2011
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I can't judge one way or the other because I have no clue what happened. I will say that those types of intro posts show a lack of experience. He is young though and I was there at one point as well. Best of luck either way.
Uhm, no. Seriously? If I knew someone was a scammer, WTF would I allow them to be associated with the site? To me, this implies that you think very little of me and have no respect for my decisions, and/or strongly dislike what our community works so hard to do. Please clarify your statement if I am wrong.
Since you named Al Brooks specifically, then I will respond and say that just because I don't personally agree with Al's trading methodology does not mean that I think he is running a scam. I do my best to provide a range of content to our members, and that includes content I don't always agree with (for example: scalping is extremely popular, despite me strongly advocating against it).
Like with any vendor, all members of our community are encourage to post feedback in the Vendor Review section about their experiences, including experiences with people that give webinars on FIO. I hope you would realize that if a lot of people start showing proof that someone that gives a webinar on FIO is a scam, that I would no longer invite them back to the site. In addition, I always create a discussion thread for each webinar event and ask for feedback so that members can tell me what they thought. This feedback is used to decide future events and whether or not a presenter is invited to return.
In the past, I have removed webinar content after-the-fact from a vendor that I felt was running a scam, and I did everything I could to distance FIO from them (this was many, many years ago and that vendor was banned). Unfortunately, this was very early days of the forum and my "spidey sense" was still developing, so I got caught up with someone I shouldn't have.
There are one or two other examples where guest speakers will NOT be invited back to do webinars because I strongly disliked how they conducted themselves in the webinar (for example: strong selling to our members, despite being told in advance our strict rules against such things).
I don't recall what the "Rock Star Journals" are, but suffice it to say that yes -- I have uncovered many stealth vendors in the 7 years of running the site, and banned all of them I am aware of.
In rethinking my post that you referenced I want to be clear and say that I do not think it is unreasonable at all to expect or require verification in a situation where somebody is selling something. Audit able track record is an industry standard.
I meant that to require it in a collegial non commercial setting, for me, is a step too far. BUT I do understand that there may be folks that need some type of protection or warning.
That said, there was a thread and associated effort here, I thought, by which some device was created that would allow automatic posting to a thread of orders and executions in real time. Do I have that wrong? If such a thing existed, only guys that KNEW they were excellent traders would even consider it. Again, the only likely reason for even those guys would be to convince a following to send in money. Here is the disconnect for me personally...ANYONE banging out consistent profits, even at a low level makes way way more from that than they could from simply selling trade indications. In some cases where you have the brokerage and get a kick back on the clearing and the deposit credits to firm net liquidation I guess you could get close to maybe being in a situation where selling trade indications was worth the time.
Again, from my experience there are pundits and there are players. Pundits are engaged in the "bullshit game" that is to say selling or telling. Players are the folks that actually get to the doing and excel in a measurable, meaningful and consistent way. If you can not tell the difference, learn to. If you can tell the difference, you know where you stand and what you need to do next.
BTW, FuturesTrader71 is a scalper as far as I know -- are you lumping him in there? I don't agree with his methodology personally, but I doubt you would question his credibility in the industry. He and I have had friendly unscripted/live discussions in past events that discuss our differences in methodology.
Just because I think that most traders should not scalp doesn't mean that I think FT71 is a scam, nor does it mean that it is a bad decision to bring FT71 onto the site. I believe most users on the site would agree they've learned from his past events and found them beneficial.
Oh man, I sincerely hope you don't feel this way about @Big Mike and our community. I feel we have the finest place to come together on the web and Mike is charged with doing what he can to share his opinions yet be open minded to others strategies and ideas. This is what brings us all together and his policing is done to help keep us safe. I wouldn't want the job. Mike has demonstrated that he's a stand up guy with strong morales who has to draw a line in the sand that's often subjective- his efforts give us what we have here and I am very appreciative.
