Jacko @ FF.com a scam?

[trading100]

I don't sponsor or recommend or even know anything about any of the gurus on the site. I made the site simply for gurus to come and prove themselves by making some real time calls on the shout box. So far, only a few have agreed to throw out some calls. Any guru who wants can be listed, as it's simply a place to view gurus who are out there.

Would you please then place my site http://stocktwits.com/stephanusR on yours. I made another winning trade this morning( 5 pip draw down for 27pip rally) for a track record of 46 winners/ 5 loss or 90% win rate out of 51 trades, documented with charts and time stamped by stocktwits.com . Can't lie about anything or commit misrepresentation fraud.

 

[smguru]

I'd love to, I just sent you a PM.

 

[Trader333]

Successful traders make their money trading. They don't need any other income peripherally.

What if they suddenly become unable to trade through illness or circumstance ?

The idea that successful traders only ever trade and don't diversify income streams is a seriously flawed strategy in my view and is akin to putting all your eggs in one basket. Diversifying income streams makes good business sense and especially passive income where you get paid without any effort once the initial work has been done. That way it doesn't matter if you are unable to trade through illness or even if you die as the money still rolls in for any loved ones that may be left behind.

I don't doubt that many people offering trading rooms or courses are unable to trade themselves but it does not mean that all of them are the same.


Paul

 

[wackypete2]

What if they suddenly become unable to trade through illness or circumstance ?

The idea that successful traders only every trade and don't diversify income streams is a seriously flawed strategy in my view and is akin to putting all your eggs in one basket. Diversifying income streams makes good business sense and especially passive income where you get paid without any effort once the initial work has been done. That way it doesn't matter if you are unable to trade through illness or even if you die as the money still rolls in for any loved ones that may be left behind.

I don't doubt that many people offering trading rooms or courses are unable to trade themselves but it does not mean that all of them are the same.


Paul

Excellent post. I agree 100%

Peter

 

[TraderNumber7]

Funny how things turn out in life.

I had a very long and drawn-out fight with JackO, when FXCM allowed him a FREE PASS to run his mouth and gin-up support for what none of us knew was coming next. This was a few years ago and I was doing what I always do, talk about the public elements of the trading technology that I developed over the years and posting some trades.

JackO, after seeing some of my trade results (I was posting under TurbineTrader back then on FXCM) contacted me and asked if I would be interested in a "business proposition" that involved trading his "own capital." I've never been in the business of managing other people money and I've always tried to help Newbies with inspiration and technical tips that I could make public from my own technology. So, I told JackO exactly what I've told the many people that asked me that exact same question - Thank you for the recognition, but I do not want to be a money manager of other people's funds. I have my hands full managing my own funds.

Well, from that point forward, JackO took every opportunity he could to slight my posts on FXCM. He started making trouble in my threads for no good reason, even after seeing trades turn profits. He began berating the entire idea of "Technical Trading" as a whole and started saying that I was out to "scam people" or "sell something," regardless of the fact that nothing had ever been sold and nothing had ever been offered for sale over the several years that I was online teaching, inspiring and working with Newbies. And, despite the fact that he could not produce a single human being who confirmed that they had ever bought or were even asked to buy anything from me, directly or indirectly. Yet, I was the one who was "selling something." What a joke.

JackO, then opened up his shop on FXCM and FXCM WELCOMED it 100%. FXCM, then shut my TurbineTrader thread down and for what - posting a successful TradeJournal? My trades were live - period. As live as I could make them, having to type in orders and post on a forum. Jack's trades were anything but live. I audited (followed) many of his trades and found out that he would take a losing trade, change the Entry Price AFTER the trade was launched in a thread that was way downrange of the original Entry post. He did this numerous times and when anyone would question him about it, he attacked them.

JackO, had many FXCM followers and to this day, I truly believe that many of them (probably most) were FXCM employees or FXCM shills. FXCM allowed this guy to get away with murder inside his thread. His FXCM thread was called: Jacks House of Pain or something equally as absurd for a thread that was supposed to be about "trading." FXCM allowed this guys phony trades thread to flourish. It developed one the highest hit rates in DailyFX history. Yet, there was virtually NOTHING inside that thread that was of any value to the trader, whatsoever! It was mind blowing to watch. My tread, containing both live trades and tech talk about the technology used to make them, was closed by FXCM Moderators, while Jack's House of Pain foolishness was picking-up more viewers by the hour, it seemed like.

So, I went on the offensive.

I began following, auditing and posting corrections to many of JackO's false trade results that he would post. Upon doing so, I was attacked multiple times by Jack's followers (shills) for posting the corrections. JackO, then began telling his followers to ignore my corrections, that they were the work of a "mad man" (his words). I then challenged Jack to a Public Trade-Off Competition, involving his attorney, my attorney, TransAmerica and I even volunteered to put the man up in the St. Francis Hotel while his attorney made the escrow arrangements with my attorney. I also volunteered to fly the man and his attorney to San Francisco, on my Netjets dime. I did this inside his own thread and in full public view - so, either I was full of crap, or he and his attorney were about to get picked up and flown to San Francisco.

JackO, then went into a conniption fit online. He started telling me (online in the forum) that he was in China, traveling with his Wife and could not make the trip back to the States for the challenge. He asked for my attorney's phone number and I gave it to him. He called my attorney three times and hung-up the phone, three consecutive times without saying a word after my attorney answered the phone. He then went back online into the forum and claimed that I gave him the "wrong number." My attorney assured me that no one said anything on what though were three consecutive crank calls or wrong number calls. There was no number for caller I.D. to read into memory.

After the crank calls to my attorney, JackO went ballistic in the FXCM forum and I picked-up my pace of strategic attacks on his false position. I raised the bar and put the challenge to $5,000,000.00, winner take all in the Public Trade-Off Competition. He said he had no problem with the $5M, but because I gave him a "wrong number" (that he crank called three times in a row), he would not "waste valuable time with me anymore."

From that point forward, I continually posted corrections of his audited trades, showing the entire forum where JackO had lied about his Entry, some days or weeks previously. Nobody seemed to do the homework on his trades and that bothered me more than anything. Whenever post a trade, I do it in the form of a Trade Profile that contains detailed information about the trade. I then follow-up that Trade Profile with periodic Trade Profile Updates, so Newbies can easily follow along. Not JackO. He would rarely give full clarity to his trades online.

Eventually, I started to believe that FXCM was behind JackO - someway or somehow. Allowing his audited posts to go unchallenged by the Moderator, after clearly being shown to be in error, was suspicious in my eyes. So, I simply left JackO and his shills to themselves in their "House of Pain" thread, that really had nothing to do with actual trading.

Now, I find out that JackO was the one "selling something." Mr., I'm in China right now and can't come to the States, seems to have found his real "House of Pain."

How poetic. How pathetic. How predictable. How FXCM.

 

[TraderNumber7]

James16 is definately not a fraud....where did you come up with that ? Getting tired of people talking out of thier backsides with nothing to back it up. If you even bother to look at his thread you'll realize that

James16, might not be a fraud. But, what I know about ForexFactory is this:

After highlighting the problems I had with JackO, over at FXCM (DailyFX), I opened up a Trade Journal and began posting live Trade Profiles on ForexFactory. And, like I've been doing for years now, I also began talking about the public parts of my trading technology.

I ran upwards of 22 trades back-to-back (day trades) and was running at 93%+ accuracy to target, when out of nowhere, I start getting attacked by people who were supreme supports of James16 (I checked some of there previous posts). I was never directly attacked by James16 and I want to make that clear. However, the nature, tone and tenor of the attacks were very similar to the kind of attacks I took on over at FXCM.

Whenever there is a "guru" out there trying to sell you something, typically his shills will do the full frontal assaults on your position, while the guru takes cover.

Well, I found out that the Moderator of ForexFactory gave James16 his own private sub-forum. I believe it was a paid or subscription sub-forum. A long time ago, James16, used to post out in the open on ForexFactory.

Once again, one of my live trade journals was closed, when nothing but live trade calls and tech talk were being posted. So, once again, I went on the offensive, made a public challenge to the attackers. None of them replied with an acceptance on my terms, so I left. [if they were going to attack me for no good reason - then they were going to accept my terms for the challenge]

I lowered the Public Fully Audited Trade-Off Challenge down to $500k - winner take all. No takers on ForexFactory. Not even James16.

I've been a Trader now for more than eight (8) long years and I've always made portions of my technology open to the public and I've backed them up with periodic live Trade Profiles. I have one multi-position live trade profile on record here at T2W, after being personally attacked for no good reason. Even then, after seeing the $300k net profits, the attackers had nothing more to say.

This side of the FX business is real funny. People tell you one thing, but deliver something entire different. Historically, after I silence the attackers with net gains, they just simply ignore me.

Silence is golden. ForexFactor Moderators and James16's followers might consider that colloquial phrase.

I don't do freebie Trade Profiles anymore after being attacked, but I will open the door to Public (Escrow) Trade-Off Competitions where the attacker must meet my terms to compete. Not only do I get to shut the attackers mouth, but I get to take their MONEY in the process.

Hey, if I am going to continue to get attacked, then I'm going to get PAID doing it.

Bring James16 and the entire ForexFactory crew along with him to a legitimate Escrow company. In fact, tell James16, that I might even have a way to have the entire Public Challenge televised. I can't guaranteed the televised part, but I know someone who might be able to make it work.

No more freebie attacks. Attacks now cost the attacker Public Face or Real Cash - on my terms. LOL.

Escrow Account Attacks Welcome.

 

[4xpipcounter]

Paul, good points. If trading is to be viewed as an investment vehicle, then I agree with you. I view it as a job, because it is my job. I could be taken by illness or circumstance, but it is just any other job where you are an independent contractor. I was an independent salesman for 20 years. If something happened to me, then I would have been out of income. Trading is the same way, but with one big exception. If something were to happen to me now, it wouldn't hurt me like it would have when I was a salesman. The income this industry avails a person is still blowing my mind. I still can't get over it, and all I do is sit and click a mouse.
I have mentioned it in other posts, that unlike most, all my money is not in the markets. I have at least equi-amount in liquid assets as I do in my trading account, and then other monies elsewhere. In that way we, are seeing eye-to-eye. I guess my initial comment, I was addressing this as a job more than an investment.
My point on trading rooms, et al is that you hardly ever meet someone that has become a profitable trader as the result of the influence of a trading room or buying courses. Also, I believe being mentored and paying for a course are 2 different things.
BTW, I'm Paul, too.

What if they suddenly become unable to trade through illness or circumstance ?

The idea that successful traders only ever trade and don't diversify income streams is a seriously flawed strategy in my view and is akin to putting all your eggs in one basket. Diversifying income streams makes good business sense and especially passive income where you get paid without any effort once the initial work has been done. That way it doesn't matter if you are unable to trade through illness or even if you die as the money still rolls in for any loved ones that may be left behind.

I don't doubt that many people offering trading rooms or courses are unable to trade themselves but it does not mean that all of them are the same.


Paul

 

[4xpipcounter]

What a story!
This depicts the sacandulous activities going on with FXCM perfectly.
I knew a guy from Houston, Tx that opened a PAMM with FXCM. FXCM knew his track record, and that he was all hype. He had a top-notch web site that abetted his activity. This guy had $250,000 in accounts to trade, and lost all the money in 2 months. I have the records if I was ever faced with the burden of proof.
This guy also approached me to trade for him, and that he would share his profits with me. This was after he lost about half that money the first month. I told him, "Okay" (Yeeeah, like I'm stupit.).
I was thinking FXCM has to be brighter than me when it comes to knowing what is going on in the industry, so I passed on my credentials (This was 2007), because I had some clients, and beginning to venture out as an account manager. After I passed on my credentials, they passed on me. They like that free money, which they were going to get none from me.

Funny how things turn out in life.

I had a very long and drawn-out fight with JackO, when FXCM allowed him a FREE PASS to run his mouth and gin-up support for what none of us knew was coming next. This was a few years ago and I was doing what I always do, talk about the public elements of the trading technology that I developed over the years and posting some trades.

JackO, after seeing some of my trade results (I was posting under TurbineTrader back then on FXCM) contacted me and asked if I would be interested in a "business proposition" that involved trading his "own capital." I've never been in the business of managing other people money and I've always tried to help Newbies with inspiration and technical tips that I could make public from my own technology. So, I told JackO exactly what I've told the many people that asked me that exact same question - Thank you for the recognition, but I do not want to be a money manager of other people's funds. I have my hands full managing my own funds.

Well, from that point forward, JackO took every opportunity he could to slight my posts on FXCM. He started making trouble in my threads for no good reason, even after seeing trades turn profits. He began berating the entire idea of "Technical Trading" as a whole and started saying that I was out to "scam people" or "sell something," regardless of the fact that nothing had ever been sold and nothing had ever been offered for sale over the several years that I was online teaching, inspiring and working with Newbies. And, despite the fact that he could not produce a single human being who confirmed that they had ever bought or were even asked to buy anything from me, directly or indirectly. Yet, I was the one who was "selling something." What a joke.

JackO, then opened up his shop on FXCM and FXCM WELCOMED it 100%. FXCM, then shut my TurbineTrader thread down and for what - posting a successful TradeJournal? My trades were live - period. As live as I could make them, having to type in orders and post on a forum. Jack's trades were anything but live. I audited (followed) many of his trades and found out that he would take a losing trade, change the Entry Price AFTER the trade was launched in a thread that was way downrange of the original Entry post. He did this numerous times and when anyone would question him about it, he attacked them.

JackO, had many FXCM followers and to this day, I truly believe that many of them (probably most) were FXCM employees or FXCM shills. FXCM allowed this guy to get away with murder inside his thread. His FXCM thread was called: Jacks House of Pain or something equally as absurd for a thread that was supposed to be about "trading." FXCM allowed this guys phony trades thread to flourish. It developed one the highest hit rates in DailyFX history. Yet, there was virtually NOTHING inside that thread that was of any value to the trader, whatsoever! It was mind blowing to watch. My tread, containing both live trades and tech talk about the technology used to make them, was closed by FXCM Moderators, while Jack's House of Pain foolishness was picking-up more viewers by the hour, it seemed like.

So, I went on the offensive.

I began following, auditing and posting corrections to many of JackO's false trade results that he would post. Upon doing so, I was attacked multiple times by Jack's followers (shills) for posting the corrections. JackO, then began telling his followers to ignore my corrections, that they were the work of a "mad man" (his words). I then challenged Jack to a Public Trade-Off Competition, involving his attorney, my attorney, TransAmerica and I even volunteered to put the man up in the St. Francis Hotel while his attorney made the escrow arrangements with my attorney. I also volunteered to fly the man and his attorney to San Francisco, on my Netjets dime. I did this inside his own thread and in full public view - so, either I was full of crap, or he and his attorney were about to get picked up and flown to San Francisco.

JackO, then went into a conniption fit online. He started telling me (online in the forum) that he was in China, traveling with his Wife and could not make the trip back to the States for the challenge. He asked for my attorney's phone number and I gave it to him. He called my attorney three times and hung-up the phone, three consecutive times without saying a word after my attorney answered the phone. He then went back online into the forum and claimed that I gave him the "wrong number." My attorney assured me that no one said anything on what though were three consecutive crank calls or wrong number calls. There was no number for caller I.D. to read into memory.

After the crank calls to my attorney, JackO went ballistic in the FXCM forum and I picked-up my pace of strategic attacks on his false position. I raised the bar and put the challenge to $5,000,000.00, winner take all in the Public Trade-Off Competition. He said he had no problem with the $5M, but because I gave him a "wrong number" (that he crank called three times in a row), he would not "waste valuable time with me anymore."

From that point forward, I continually posted corrections of his audited trades, showing the entire forum where JackO had lied about his Entry, some days or weeks previously. Nobody seemed to do the homework on his trades and that bothered me more than anything. Whenever post a trade, I do it in the form of a Trade Profile that contains detailed information about the trade. I then follow-up that Trade Profile with periodic Trade Profile Updates, so Newbies can easily follow along. Not JackO. He would rarely give full clarity to his trades online.

Eventually, I started to believe that FXCM was behind JackO - someway or somehow. Allowing his audited posts to go unchallenged by the Moderator, after clearly being shown to be in error, was suspicious in my eyes. So, I simply left JackO and his shills to themselves in their "House of Pain" thread, that really had nothing to do with actual trading.

Now, I find out that JackO was the one "selling something." Mr., I'm in China right now and can't come to the States, seems to have found his real "House of Pain."

How poetic. How pathetic. How predictable. How FXCM.

 

[oildaytrader]

James16, might not be a fraud. But, what I know about ForexFactory is this:

Bring James16 and the entire ForexFactory crew along with him to a legitimate Escrow company. In fact, tell James16, that I might even have a way to have the entire Public Challenge televised. I can't guaranteed the televised part, but I know someone who might be able to make it work.

No more freebie attacks. Attacks now cost the attacker Public Face or Real Cash - on my terms. LOL.

Escrow Account Attacks Welcome.

Profitable Price action trading by failures , failures who can not make money from trading, failures who rely on monthly fees from forum spamming.If they never made money from trading , how can they compete?

J16 was a pump and dump mentor working with a load of accomplices and multiple handles.threads and posts deleted , plus Infractions overload if you post against cons supported by forum admin.

 

[Black Swan]

Funny how things turn out in life.

He asked for my attorney's phone number and I gave it to him. He called my attorney three times and hung-up the phone, three consecutive times without saying a word after my attorney answered the phone. He then went back online into the forum and claimed that I gave him the "wrong number." My attorney assured me that no one said anything on what though were three consecutive crank calls or wrong number calls. There was no number for caller I.D. to read into memory.

This doesn't make sense..

 

[Black Swan]

I ran upwards of 22 trades back-to-back (day trades) and was running at 93%+ accuracy to target, once again, one of my live trade journals was closed, when nothing but live trade calls and tech talk were being posted.

do you have any links?

 

[squall321]

Why do people entrust their money to a total stranger?
Would it not be easier and smarter to simply give power of attorney to trade on one's account. A honest and genuine trader would want you to do this and not ask for money sent to them
There are companies that let you link accounts so a trade done on the master trader's account is replicated on all the link accounts
If some one is silly enough to give their money to a total stranger they probably deserve to lose it.

because the forex / spreadbet / trading / gambling / poker / etc communities are full of suckers. its like stepping into a field of fresh fruit ripe for the picking, it's hard NOT to scam.

by the way there are people scamming for money, but also people scamming for attention, scamming to build their ego, it's soooo easy to play out all sorts of personality problems in this community, the "revenue" doesn't always have to be monetary.

this goes on sooo much, every week a new scammer and a new scam, i wish someone doing a sociology degree would do a dissertation specifically on scams in forex etc. if you know someone like that PLEASE put this idea in their direction, it's v interesting to know what makes people do these sorts of things, lots of human nature and dynamics of society at play here, it would make a good paper i think.

 

[4xpipcounter]

There are a lot of desparate people. I've only been on this site for a little over 3 months. I had a lady from this site e-mail PM me asking if I traded other people's accounts. She gave me her login information and asked me to start trading for her. This was after only one day of reading my thread.
I posted a trade on the EUR/CHF that eventually turned out to be a nice winner. Initally, the trade went bad on me. The first time the guy talks to me is via PM asking me what he should do because he placed that trade because I posted it, and now he is losing on his account. I told him like I would tell anyone else, "There is nothing I can do. You should have talked to me before you entered the trade." Then, I would have told him unless you have the experience, do not place the trade because unless it is on your demo account.
There are many people that are buying into to so much hoopla and trying to latch on to the coatstrings of good traders. It does not work. All traders have to develop a methodology that fits their specificities.

because the forex / spreadbet / trading / gambling / poker / etc communities are full of suckers. its like stepping into a field of fresh fruit ripe for the picking, it's hard NOT to scam.

by the way there are people scamming for money, but also people scamming for attention, scamming to build their ego, it's soooo easy to play out all sorts of personality problems in this community, the "revenue" doesn't always have to be monetary.

this goes on sooo much, every week a new scammer and a new scam, i wish someone doing a sociology degree would do a dissertation specifically on scams in forex etc. if you know someone like that PLEASE put this idea in their direction, it's v interesting to know what makes people do these sorts of things, lots of human nature and dynamics of society at play here, it would make a good paper i think.

 

[DionysusToast]

because the forex / spreadbet / trading / gambling / poker / etc communities are full of suckers. its like stepping into a field of fresh fruit ripe for the picking, it's hard NOT to scam.

by the way there are people scamming for money, but also people scamming for attention, scamming to build their ego, it's soooo easy to play out all sorts of personality problems in this community, the "revenue" doesn't always have to be monetary.

this goes on sooo much, every week a new scammer and a new scam, i wish someone doing a sociology degree would do a dissertation specifically on scams in forex etc. if you know someone like that PLEASE put this idea in their direction, it's v interesting to know what makes people do these sorts of things, lots of human nature and dynamics of society at play here, it would make a good paper i think.

Forex, religion, bodybuilding, weight loss, herbal cures, MLM....

etc etc etc etc

Money is usually involved but often not the aim of the person getting scammed.

Trading is just one of many 'industries' of this nature.

 

[DionysusToast]

There are a lot of desparate people. I've only been on this site for a little over 3 months. I had a lady from this site e-mail PM me asking if I traded other people's accounts. She gave me her login information and asked me to start trading for her. This was after only one day of reading my thread.

:-0

I posted a trade on the EUR/CHF that eventually turned out to be a nice winner. Initally, the trade went bad on me. The first time the guy talks to me is via PM asking me what he should do because he placed that trade because I posted it, and now he is losing on his account. .

:-0:-0:-0

Great scott !

 

[Black Swan]

this goes on sooo much, every week a new scammer and a new scam, i wish someone doing a sociology degree would do a dissertation specifically on scams in forex etc. if you know someone like that PLEASE put this idea in their direction, it's v interesting to know what makes people do these sorts of things, lots of human nature and dynamics of society at play here, it would make a good paper i think.

I've always maintained that I've learned more re. human behaviour from this suite of forums than trading ideas etc..

 

[wackypete2]

I've always maintained that I've learned more re. human behaviour from this suite of forums than trading ideas etc..

This is starting to ring true with me too. Kinda funny, isn't it? Of course understanding human behavior can go a long way in trading also.

Peter

 

[4xpipcounter]

I agree. You get on here hoping to take just a few tidbits of information that may challenge you to be a better trader and to learn thereby, and instead, you learn everything not to do. You also learn the shocking amount of gullible people that instead of trying to make a career business, they are looking for a scheme to make them rich overnight. You learn how many wannabes there are, sitting on the sidelines, wishing and hoping. Then you learn baout all the failures thee are, adn how quickly people are to blame the markets.
Wow! I've only been on here a little more than 3 months. I could be a genius in what not to do in a year.
Actually there are a few doing well. On the positive side, there are also good things to learn from them, too.

I've always maintained that I've learned more re. human
behaviour from this suite of forums than trading ideas etc..