everyonerich
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http://www.trade2win.com/boards/general-trading-chat/85298-i-just-joined-account-9.html#post1067894 lesson learned.. use this.
Dinos
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Just for the record, only because I am an ex T2W advisor and I don't post here regularly here anymore, I want to make it extremely clear, I am not the T2W advisor involved in this, I always have and always will make my own trading judgements and trade only by my own decisions, and not be swayed by anybody elses opinion or thoughts, nor am I gullible enough to be parted from by hard earned money by rogue individuals... My success or failure will be down to one person ... me....I cannot understand why any trader, if successful in their own right would want to give away money to an unregulated inidividual to trade on their behalf as a "punt", suggests to me, maybe wrongly, they are not as successful as they think or promote, surely, if you are a successful trader, wouldn't that money be better invested in your own trading strategy.... maybe I wrong or call me old fashioned, but I believe in making my own wealth and not rely on others to tell me how to do it or do it on my behalf.
Just my two penneth, and I hope those of you who have lost out regain your outgoings.
Regards
trader_dante
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Agree with your points. I still cannot fathom to this day why anyone invested any money with him. I wouldn't give a penny to anyone to trade for me no matter how skilled they were or what proof they had.
elitejets
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Hindsight ...
Wonderful thing isn't it.
Hey Options, here is something your friend might want to peruse:
http://www.telegraph.co.uk/finance/...ines-could-treble-as-FSA-bares-its-teeth.html
Wonderful thing isn't it.
Hey Options, here is something your friend might want to peruse:
http://www.telegraph.co.uk/finance/...ines-could-treble-as-FSA-bares-its-teeth.html
elitejets
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Given that Arabianights actually named the advisor I'm a little stumped as to why you feel the need to post this.
How very clever of you, well done.
And Arabian Nights is/was an advisor and invested too.
squall321
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Who Dino's ?? I wouldn't go that far mate
i mean wasp
don't forget the three rules of the con
1. if it looks too good to be true, then it probably is
2. if you want something for nothing, you end up getting nothing for something
3. you can't con an honest john
have you been watching Watchdog ?
squall321
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squall321
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it probably comes from the time when religious ethics applied about "honest work", and easy money was sinful.
it might not apply today, but then again perhaps society is so corrupt now that there's no honest people left.
elitejets
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trader_dante
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squall321
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And yet, you are a trader
well in the real world i guess it would describe the effort you put in being correlated to the money you get paid. more money earned for more effort
in the financial world it means the correlation between risk and reward. if you want a big reward, you have to take a big risk, or, if you don't want the risk you have to put up with less payoff.
when the risk and reward are totally totally out of whack, then something if up.
Masquerade
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Really? If some person demonstrated to you a consistent system with minimal drawdowns making large returns and you could deposit as much as you wanted and it was 99% certain you would profit out of it you wouldn't do it? You could go swanning around the world while this highly competent person turned your thousands into millions you'd say no? (Not saying wasp was this at all, but just speaking hypotheticals here)
My views / statement of facts, in no particular order:
* The majority of people discussing what went on weren't involved
* Before most people comment, they think "well, what would a trader say?" [this is not directed at any individual in particular, but read between the lines]
* Of those who are involved, some trade for firms, some for themselves, some part time and some are learning the ropes.
* I was one of the original dirty dozen [this is not a name we have collectively given ourselves, but I think it should be considered]
* looking back, I see clear evidence of i) hubris, ii) brinkmanship, iii) greed and iv) gullibility / lack of judgement, on both sides of the equation. I'm a young, sharp guy with alot going for me. I've learnt my lesson, I can handle it.
* I do not use the opportunity cost of not trading the cash as a yardstick when making each and every financial decision. I'm sure M&S make good white shirts, but if I want a good white shirt I go to Pink's - I don't think "but if I go to M&S I can trade the money I save!!" Seriously, ffs, the depreciation on my socks is enough as it is!
* 250 quid doesn't go very far in the futures market. It goes further on a long boozy lunch with family/friends, which is probably what I should have done instead.
* I wish justice / help / forgiveness to be dealt to you-know-who in the appropriate proportions - and I would prefer someone with the knowledge and necesary experience to decide how these should be split, not the average T2W'er.
The rest I will leave to the chattering classes.
* The majority of people discussing what went on weren't involved
* Before most people comment, they think "well, what would a trader say?" [this is not directed at any individual in particular, but read between the lines]
* Of those who are involved, some trade for firms, some for themselves, some part time and some are learning the ropes.
* I was one of the original dirty dozen [this is not a name we have collectively given ourselves, but I think it should be considered]
* looking back, I see clear evidence of i) hubris, ii) brinkmanship, iii) greed and iv) gullibility / lack of judgement, on both sides of the equation. I'm a young, sharp guy with alot going for me. I've learnt my lesson, I can handle it.
* I do not use the opportunity cost of not trading the cash as a yardstick when making each and every financial decision. I'm sure M&S make good white shirts, but if I want a good white shirt I go to Pink's - I don't think "but if I go to M&S I can trade the money I save!!" Seriously, ffs, the depreciation on my socks is enough as it is!
* 250 quid doesn't go very far in the futures market. It goes further on a long boozy lunch with family/friends, which is probably what I should have done instead.
* I wish justice / help / forgiveness to be dealt to you-know-who in the appropriate proportions - and I would prefer someone with the knowledge and necesary experience to decide how these should be split, not the average T2W'er.
The rest I will leave to the chattering classes.
