Hi PvLee, your correct just like a GS managed account, hey your account lost 12% this last quarter, but we still need to take our 2%. They are saying hey we really earned it, we could have put your account into a higher risk category and you would have lost more, we really are good, arn't we.
Ed probably does get a huge contact discount for his referrals, Ed has stated it a few times that Matt "Helps him out" in that area.
Being tied to Ed right now is not good, this will not just blow over easily, too many people who have seen/heard the same thing. You can see that when we say something here, Ed immediately makes a op change on how he conducts himself, its so obvious. Now matt just directly stepped on the land mine, on his own free will. You are right Matt we all are stupid newbieís, and should have seen that Ed was a fraud, and that his summaries are all legit.
Ed states in his room, that once you trade live, you NEVER go back to SIM. So, with that website statement AT THE TOP it states this" YOU CAN WATCH OVER MY SHOULDER AS I TRADE IN THE LIVE MARKET. I mention the entry price, the stop, the targets and exit. I use Ninja chart trader so you see it on the chart.Ē
We have to assume ALL his trades REAL AND CAN BE AFFIRMED AS TRUTH, well MATT can they. Somehow itís all adding up to be a total lie/fraud, yet you MATT know the truth, and have the keys to open that door. Yet I find this statement by you curious Ē I don't know what people consider legitĒ.
When we see a NT summary of that dayís trading, and it has 2K, 4K, and up to 6K we thought it was legit. Especially we Ed stated once trading Live, never do not go back to sim, (so our assumption is that that his trades are LEGIT, as you say). As you sought out others, we sought out Ed, no bad remarks, anywhere, not even on futures.io (formerly BMT), or that other site that kills anyone in this business. So as you sought, so did we, and we paid for that, to learn a his discretionary trading system. Hey, you endorsed, him, so he is really legit. Yet, we now find out how he has defrauded us, by lying and removing his negative daily trades. You have been an willing part of that, you should have seen his results, thatís he posted, yet you have allowed this thing to grow to maddoff proportions in the trading scalper world. Thanks for your help!
Sorry, just another newbie.
If you care to do a little research to see what you will need to know if you are a party to any litigation you can start here at these posts. But, the best way is to go look at Edís daily web summary and trade posts, then look at his real trades, you have the records and you may need to understand them a little better then you do now. Remember, he says, when you trade live, never go back to sim, so those trades MUST be live and the truth, right? Is that a newbie thing again?
I do not think so, since Ed has removed your Optimus button from his site, so maybe you do know. For now that is client only info. Well, for now.
Read the thread post numbers if you choose to see what we have: Post #ís:
Last edited by tradermark2009; December 11th, 2014 at 05:18 PM.
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It looks like Ed is on massive cleanup exercise at the moment, getting rid of evidence etc..
A year ago his trading performance was impressive, around a 75% success rate and close to believable to an experienced trader. As far as I can see he messed up big time when he turned into Superman and started posting between 95% and 100% daily successes.
I predict he will re emerge at some point as a highly credible 65% trader. It is obvious to anyone that his income comes from membership fees so he needs a constant stream of new members to make a living. If he can't attract new members he is going to have a tough job selling those paintings
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Pvlee, its nice to know a lot of us have hard drive storage and saved his lies, I have a ton, so he can destroy all he wants. The only way he can get to mine is if he hires the N. Korean's who are suspected in the Sony hit. Otherwise, its still no good how much he deletes and hides, its all on Matt's and/or the IRS hard drives. Life is good, the air is smelling a little cleaner.
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I was never a member of his site, but I used to be on his email list years ago. I remember him sending long-winded diatribes about the nature of trading. 90% of it was just re-iterating the obvious or what was already said earlier. It was always long and verbose, but you could tell the guy had put a lot of thought about the subject into the message.
Too bad it is all going down like this and so many people were swindled. The whole public shaming and making members feel like they are not working hard enough and not worthy to be at Ed's level because he is more experienced are classic cult brain-washing tactics. I could sense it in post #20 and #21
It's too bad so many people wasted so much time and money trying to follow him. Hopefully they learned SOMETHING about trading the markets and it wasn't a total loss.
Last edited by shodson; December 11th, 2014 at 08:57 PM.
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No way @mattz could possibly disclose what you are asking here without a court order. To do so would violate every possible client confidentiality law out there. The fact Optimus is no longer on his blog should tell you something. I've known Matt now for a couple of years and have found him to be nothing but credible. If he were to somehow affirm or disaffirm Ed's live or sim trading results, I'd quickly change my opinion of him.
Simplicity is the ultimate sophistication, Leonardo da Vinci
Most people chose unhappiness over uncertainty, Tim Ferris
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Hi Shodson, your second paragraph is so right on, he made everyone that couldn't trade to his standard feel so bad, and in front of the whole room. It wasn't preatty and you are right about the so-called "classic cult brain-washing tactics". But, the whole training industry seems to know how to do that, to protect themselves. Good comments!-Mark
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Hi @PandaWarrior, you are correct, in my last statement, I did state that Ed's info is client only, meaning that Matt would only release it in an court ordered situation.
From the research on Ed, he may not be the trader he stated he his. This may not even be worth going after him in a civil suit. The problem is not winning the problem is getting anyone to pay, and all that cost lawyer $$. I was in a Wade Cook civil suit in 1997, and we won. Lawyers made millions I got a check in the mail for 35 or $45. Here I am not sure I could get anything of the 3K I spent back once fees and effort is considered. Just getting Ed out of the teaching business is our only goal as it stands now.
My inference about @mattz knowingly endorsing Ed is not true, a referral button is just that a referral, not an endorsement (but he still has the records of ED). I have only heard good things about Matt, myself. I do know traders that use him and find his service good. I didn’t want to leave it as I did initially. BTW, NO one has asked me to state the above, I did it all on my own. My whole intent on @mattz comment was to make sure we were not looking blindly at Ed as the Holy Grail of trading. Only the simple facts that about 100 or so of us saw in his daily trading logs. Matt, I have spent a lot of time learning how to trade, and $$ to do this full time. I have been trading since 1996 in options and Stocks, and since 2008 in Futures, but since 2010 full-time. My wife can attest to all that as well.
Last edited by tradermark2009; December 11th, 2014 at 10:20 PM.
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