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Vendors providing P&L PROOF!?
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Vendors providing P&L PROOF!?

  #1 (permalink)
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Vendors providing P&L PROOF!?

Greetings,

I saw a webinar here recently "Understanding Order Flow with MarketDelta Footprint",
Presented by: Anthony Drager.

In this webinar a forum member asked if Anthony would disclose his P/L from his trading system he "charged' people for by attending his room! He basically replied with a "no"!

I propose this to you!!

When an individual provides you with a "system" to make money, charges you for that system, and you are placing your hard earned capital at risk using that system, YOU DAMNED RIGHT have a right to ask for proof in P&L statements and expect it!!!

Just my take on this!!

Joseph

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  #3 (permalink)
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It is Marketdelta's room Anthony runs it. He is not selling a red light green light system, if that was the case you would be right to ask how it has preformed. What he is doing or trying to do is teach people that subscribe how to trade using the footprint. Marketdelta has more to gain from teaching people how to trade the footprint than trying to sell them some system. People that learn how to trade the footprint from this room will most likely become long term subscribers and that is their main goal.

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  #4 (permalink)
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Joseph689 View Post
When an individual provides you with a "system" to make money, charges you for that system, and you are placing your hard earned capital at risk using that system, YOU DAMNED RIGHT have a right to ask for proof in P&L statements and expect it!!!

That is not at all what happened, or what is happening in this case.

In four years of running futures.io (formerly BMT) I've seen this type of behavior from a lot of members, "demanding proof" of profitability, some of which even say it is impossible to be profitable and trading is a scam.

The best course of action for these people would be to wake-up, stop following others, stop associating their own trading wins or losses with those from "mentors" or other vendors who are selling something, and start taking responsibility for their own trading.

Stop following and start leading. This is your only post about that webinar it seems. So this is what you took away most from that webinar? What a shame.

Mike

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  #5 (permalink)
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If you look at the footprint chart you will see that any sort of red green light system would require a human calculator on steroids for a brain. All professional flow traders use some variant of a footprint, all tell the same important thing, where the trapped traders are in the balance. Rules and systems are biased and really as far as I know there is simply no such thing that exists for a human intra-day trader. You must just learn the game and take your chances.

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  #6 (permalink)
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Do universities provide proof that a degree will be profitable? Of course not, it depends on the person. Yet people spend years of their lives and tens of thousands on them. Not everyone who learns a skill like medicine, welding, law, reading order flow, whatever, will be successful in their chosen endeavor. It depends on the person.

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  #7 (permalink)
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There is one trading room that does a trading call service and publishes their daily results to the public on their website each day. I forget the name but there is a thread here on bmt somewhere regarding trading rooms. I followed them for a month or two and they seem to do consistently well. They also provide historical stats on their day trading calls on the site. Again the link is here on bmt somewhere. They do training as well and seem to have a good reputation for that, so you can probably learn something while following. You will never learn how to trade blindly copying inet trade calls. There is no cookie cutter system, period. Every day is unique at some level, as is every trade. If you want to learn this game, and as quickly as possible, skip the online training, some is good, most is probably not. Choose wisely, it's your time and money. If you are serious about wanting to learn in a compressed time frame you ought to try and get a seat on a desk where you can sit directly next to cpt'z, consistently profitable traders, and absorb for a couple of years. If you want to go the online route, call me in five years and let me know how you are doing with the trade calls....

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  #8 (permalink)
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I think for newbies, seeing proof at least once is essential since so much of vendor offerings is unregulated and dubious. But then just seeing proof once is enough. Just to reassure all this retail trading isn't a scam and there is actually a pot of gold (or some extra federal reserve notes) at the end of the rainbow for each individual trader. I no longer need proof to see it's possible. Then it's still the beginning of the journey, realizing a lot of hard work and experiencing pitfalls and drawbacks to get to the dream level of success.

A couple of vendors who show results:

Valhalla Futures - Daily Trade Blog ( a free room via icq. I saw the results were true )

Live Trading Room | Scalping Futures | Trades Results

update: of course Big Mike, these are few in the haystack out of many which I believe are true results and journals. I have seen many other tricks to fake results listed on other sites.

I don't even recommend those sites' products. Just to take a look at their journals. I never bought either of those sites products. Just a free trial on winborn and the free icq room on valhalla.


Last edited by Cloudy; May 2nd, 2013 at 07:46 AM.
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  #9 (permalink)
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Don't fall prey to websites who publish results. In virtually every single case I've ever seen, the results are faked to prey on the inexperienced who don't know better.

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.

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  #10 (permalink)
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AlexB View Post
Do universities provide proof that a degree will be profitable? Of course not, it depends on the person. Yet people spend years of their lives and tens of thousands on them. Not everyone who learns a skill like medicine, welding, law, reading order flow, whatever, will be successful in their chosen endeavor. It depends on the person.

I understand the sentiment, but the american bar association actually does require that law schools publish employment statistics.
http://www.americanbar.org/content/dam/aba/administrative/legal_education_and_ad...nt_data.authcheckdam.pdf

Class of 2012 Employment | Yale Law School


"If I agreed with you, we'd both be wrong."
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