Dear T2W: Why is Depth Trade STILL soliciting funds here WITHOUT registration ?

[BSD]

Moneytec did the right thing by banning him.

Just read through about him and some of the garbage he posted there.

DT has never posted a real live trade, if you call posting BUY at bla bla bla level trading, than this must be paper trading business thata you are involved in!

My trade setups are given ahean in advance at least 1-2 days with SL and TP levels, with my trading I look to gain at least 200 pips per one lot per one trade trading 4 pairs most times.

So I don't really plan to defend myself, just a quick recap of your trading style Depth Trade:

-DT is paper trading;
-DT has multiple accounts at Mtec;
-DT has other accounts on T2win with a history of losses extending back to 2005;
-DT always jumps on other traders, who point out to the discrepancies in his trading style;
-DT never ever posts live trades - live trade has a TP/SL level;
-DT has a wild imagination - one day he is trading 5 mil accounts, next day you see him post results on a 1000 dollar account;
-DT has been banned at Moneytec several times for offensive language;
-To conclude: I rest my case.

Originally Posted by Depth Trade

"All looks good

were on the right path

The account is slightly down, but this is to be expected

we grow stronger

We're already to the point where no one can catch up to us

one can not replace Real Market Experience

I have more experience

I have more experience."

Any honest profitbale signal provider ? - Page 47 - MoneyTec 2.0

Yeah right.

Experience at hemorrhaging money some people were apparently deluded enough to give him with zero track record.
Paul Chaney is another handle of Depth Trade:

I am searching for one eccentric wealthy individual who would like to have there account managed by an honest and professionally trained Currency Trader. The account will traded, managed with the same risk tolerance and manner as my live Forex postings. Targeting 4% monthly profit.
I would be willing to relocate to work 'one on one' managing your account.
If you are interested, beprepared to have a +Mil. account, 100k retainer and too negotiate from 50/50% monthly split.
Please send me a brief summary of yourself to my Email located on my homepage via (name/profile) link.

Thank you, Paul Chaney

Oh my God he's not only delusional he's a total nut job!

http://www.moneytec.com/forums/f75/t...-perish-18177/

$Im account, 50/50 split, and a 100k retainer, this guy lives in cuckoo land with the fairies, the person he's looking for would need to be more than 'eccentric', they would need to be as crazy as he is!

Depth Trade, if you ever hope to turn your wild fantasy into reality first you need to learn how to trade and show some consistent positive returns. Then you will need to learn how to handle clients and client funds by limiting their initial risk increasing trade size as you compound, then just maybe you might have a very very slim chance of finding somone willing to chuck you a few bux to trade on something like a 5 or 10% high watermark commission deal. Once you have traded that for a while and proved yourself on a nickel-and-dime account you will need to prove you can trade volume and understand liquidity before anyone is going to let you anywhere near a million dollars!

You really are one crazy SOB Paul

etc etc.

 

[BSD]

From the UK regulatory body FSA:

The Financial Services & Markets Act 2000 (FSMA)

FSMA is concerned with the regulation of financial services and markets in the UK . Under Section 19 of FSMA, any person who carries on a regulated activity in the UK must be authorised by the FSA or exempt (an appointed representative or some other exemption). Breach of section 19 may be a criminal offence and punishable on indictment by a maximum term of two years imprisonment and/or a fine.

What are the regulated activities?

Specified activities are defined in Part II of the RAO and comprise:

...accepting deposits;
dealing in investments (as principal or agent);
arranging deals in investments;
arranging home finance activities;
operating a multilateral trading facility;
managing investments;
...

Financial Services Authority

Also:

Unauthorised overseas firms operating in the UK

In essence here is a guy with nothing but incessant outlandish marketing claims - 4% per month - whose sole purpose is to solicit funds on boards.

And that's just plain intolerable.

Plus a blatant breach of this boards own rules:

4. Advertising

4.1 T2W does not allow members to post advertisments of any kind either in the forums, in journals, in the Traderpedia or anywhere else where members can publish content on the website or the chatrooms. The only exception to this rule is posts within the dedicated “T2W Sponsors Announcements” Forum, which is for our paid sponsors to promote their products.
4.2 If you have a commercial product or service to sell, and would like to bring it to the attention of the T2W membership, please contact [email protected]
4.3 Advertising includes, but is not limited to: posting the URL of your commercial web site; offering for sale (or a free trial of) your product and/or service; posting references to, excerpts from, or details of your product and/or service; submitting a post with minimal content that, even in the absence of explicit references towards your product and/or service, is clearly designed to act as a lure towards it; posting your Email address or asking members to contact you for details of your product and/or service.
http://www.trade2win.com/boards/faq.php?faq=faq_site_guidelines

 

[everyonerich]

wondered how much time you spent on digging those info.. are you his enemy or something

 

[BSD]

Every, actually it took no time at all what with google, and, no, I'm really nobodies enemy either.

;-)

This is where it all started, and ever since he's taken to stalking me, which I really do not appreciate at all:

http://www.trade2win.com/boards/loo...s-wanted-hedge-fund-capital-5.html#post508606

I think I did the right thing by posting what I did at the time, and still do.

Think how you would have felt if you had been on the completely unjustfied receiving end of DT's barrage against the poor guy who came here looking for traders and OF COURSE wanted a verifiable track record.

All DT had to offer was incredible abuse.

And I just jumped in, pointing out the obvious, and defending the guy loking for traders against DT's aggressive rants.

The investment is full of incompetent crooks chasing after your money, and we really do not need yet another one of those types in our midst here.

Coming to a site like this should be fun and informing, and should definitely not be about being bugged by snake oil salesmen whose sole defining characteristic consists of incoherent ramblings interspersed by incredible rudeness when one points out to them that they are aren't wearing any clothes, that they are pretenders with no track records, and, also, who have never ever contributed anything even remotely of any trading value.

 

[Mathemagician]

Half a year on and this is what his profile STILL clearly states:

"Hello and welcome to T2W.
Professional, legal currency management.
Please see my profile for more information."

I sure hope that this does not constitute a general solicitation as prohibited by NFA regulations. I'm certain that posting solicitations for managed accounts on a web forum do constitute specifically prohibited general solicitations so I'm glad I haven't seen DT make any of those. Advisors operating under exemption (which must be specifically applied for from the CFTC and filed with the NFA, btw) also are prohibited from generally holding themselves out to the public as a CTA (and from managing the accounts of more than 15 people in any 12 month period). I sure hope he has not been taking actions that would invalidate the exemption and subject him to registration as a CTA, and further that he has not been operating without a Disclosure Document, as this would open him up to very serious liability should the conditions of the exemption have been violated. I also hope that statements like this...

I have had countless FX clients and have never lost money for a client or had any complaints.

... do not constitute what the NFA considers to be "false and misleading statements", as these would also open DT up to some fairly serious consequences (although any investors would be able to have restitution made for their losses, whch would be a silver lining to a very dark cloud).

In any case, I sure hope that nobody visits sites like these for more detailed information...

Commodity Trading Advisor (CTA)
Commodity Trading Advisors (CTAs)

and then complains to the NFA via websites like this one...

File a Complaint

That would be most unfortunate.

 

[Depth Trade]

why suddenly BSD picking up on DepthTrade? theres nothing wrong if able to trade over Power of Attorney. trade by yourself doesnt mean you wont lose, if you cant take any risk (no matter what you do) better think twice before lurking on this trading forum.

Could not have said it better.

I am the only one that has opened, managed and returned in a profit clients accounts on Moneytec or Trade2win.

I have beat out over 100 FX management firms and 300k traders to have opened the accounts that I have.

I deserve to be at the top, I have put in the hard work, paid my dues and operate completely legal. If you want to waste precious time challenging me, your welcome. I know how it will end, I'll end up putting you out of business or I drive you so crazy, you won't be able to deal with the situation and crack.

Like my best friends older brother would always say "Stay out of my way and you won't have a problem"

BSD, your a jealous little weasel that can not trade. Your just a pathetic little troll. You are constantly spouting about trading and everytime I correct you, you lose it and start attacking me.
The liar is you, there is zero truth to anything you have posted here on this thread. Your saying I lost a client money, when I returned his money in profit.
Your a total liar.

 

[Mathemagician]

I am the only one that has opened, managed and returned in a profit clients accounts on Moneytec or Trade2win.

You can't seriously believe this (or the rest, for that matter).

 

[Depth Trade]

You can't seriously believe this (or the rest, for that matter).

Prove me wrong.

There is almost 200k people on here, certainly you can direct us to a competent FX manager then.

 

[Splitlink]

Could not have said it better.

I am the only one that has opened, managed and returned in a profit clients accounts on Moneytec or Trade2win.

I have beat out over 100 FX management firms and 300k traders to have opened the accounts that I have.

I deserve to be at the top, I have put in the hard work, paid my dues and operate completely legal. If you want to waste precious time challenging me, your welcome. I know how it will end, I'll end up putting you out of business or I drive you so crazy, you won't be able to deal with the situation and crack.

Like my best friends older brother would always say "Stay out of my way and you won't have a problem"

BSD, your a jealous little weasel that can not trade. Your just a pathetic little troll. You are constantly spouting about trading and everytime I correct you, you lose it and start attacking me.
The liar is you, there is zero truth to anything you have posted here on this thread. Your saying I lost a client money, when I returned his money in profit.
Your a total liar.

What you say is a perfect example of the answers that any unfortunate trader can expect, if they fall into your hands.

T2W, you are a bit slow on this one, aren't you?

 

[BSD]

DT's profile clearly states this:

Top-Tier FX account management.
"The strategy that I use is one derived from centuries old techniques, synthesized with modern computing and charting."

Providing 'Click & Go' currency positioning. Retain all financial access. Manage personal banking, transfers and fx trading via your linked online cash account.
Client phone support.
Fee: 3.65% A.P.R. of balance, plus 25% of profit.
Targeting 1% per week."

The reality by contrast is this, a guy on moneytec who tested DT's performance over a 6 month period:

This is the reason why Depth Trade has neither track record nor registration:

"Hi All

My experiment with Depth Trade has now come to an end. As agreed with him the experiment was to last 6 months or 30% DD.

Although the account was down by over 20% at one time Depth Trade was successful in making the account grow end up with a slight profit.

The following is a record of week's end results since the start. Please note that these results include all open positions at that time. If anybody is interested in a complete history of all transactions including interest fees all trades let me know I will forward you the excel file.
Depth Trade Results
Start Date Jan-14
Deposit Amount 1000.00
Week Start Date 5-Jul-08
Week End Date 13-Jul-08
# Weeks 26
USD Start of Week 883.71
USD Ending Amount 1011.20
P/L for Week $ 127.49
P/L % for Week 14.43%
P/L since Start $ 11.20
P/L % since Start 1.12%
Expected ROI yearly 2.24%"

There will also be one more Fee to be deducted for the month of July. I believe it will be about USD 3.50.

Putz"

MoneyTec 2.0 - View Single Post - Any honest profitbale signal provider ?

In other words, Depth Trader incurred a max drawdown of 20% to make 1.12% BEFORE fees in SIX months !!!

THIS is why he is NOT registered, this is why he has NO audited track record.

Said it before, I'm saying it again.

If you want to trade other peoples money there can be no better marketing instrument than hard facts in form of your independently audited past performance.

Anybody who does not provide that is not only breaking the law, but is also doing that for one reason only, because their performance is too disastrous to reveal.

Math, great post mate up there.

OK, off to a concert now.

Have a nice weekend.

 

[Depth Trade]

DT's profile clearly states this:

Top-Tier FX account management.
"The strategy that I use is one derived from centuries old techniques, synthesized with modern computing and charting."

Providing 'Click & Go' currency positioning. Retain all financial access. Manage personal banking, transfers and fx trading via your linked online cash account.
Client phone support.
Fee: 3.65% A.P.R. of balance, plus 25% of profit.
Targeting 1% per week."

The reality by contrast is this, a guy on moneytec who tested DT's performance over a 6 month period:



In other words, Depth Trader risked 20% to make 1.12% BEFORE fees in SIX months !!!

THIS is why he is NOT registered, this is why he has NO audited track record.

Said it before, I'm saying it again.

If you want to trade other peoples money there can be no better marketing instrument than hard facts in form of your independently audited past performance.

Anybody who does not provide that is not only breaking the law, but is also doing that for one reason only, because their performance is too disastrous to reveal.

Math, great post mate up there.

OK, off to a concert now.

Have a nice weekend.

Hey poser, that client wanted to specifically buy metal to hold. The market went south.
Silver had dropped over 50% and I still returned the account in a profit. I did what no other trader could have done.

You don't know enough about the situtation to even comment.

The real question is, how money are you going to lose this week BSD?
Are you going to enter positions off the Ichimoku cloud

 

[Claudia123]

You two are obviously never gonna get on - more important does anyone really trade that cloud thing?. lol i just googled it - looks a hugely complicated chart to me but that's just simple me.

 

[cr6196]

i find it unbelievable anyone has given you money, ur a sad case for why trading isn't for everyone.

Your completely delusional DT, your noone, it doesn't even matter if you can trade, your not the only one who can, your not special and it is seems that you can't trade...you seem to obsessed with thinking you can trade and especially so with the idea that your the only one who can, why do you care?
Its ridiculous that DT has been allowed to solicit funds for so long, it is clearly damaging to T2W's reputation and potentially for other people. I also would appear its quite damaging for him too. I can't see any good coming from his membership here.

 

[Depth Trade]

You two are obviously never gonna get on - more important does anyone really trade that cloud thing?. lol i just googled it - looks a hugely complicated chart to me but that's just simple me.

Yeah, but you still have to know what direction the Currency wants to go.

I suggest watching the cloud on a 15 minute chart, basing direction off my thread.

You should look over last week charts and see how you would have traded it based off my directional call. Early in the week you would have made easy money, volume tapered off towards the end of the week though.

 

[Claudia123]

Yeah, but you still have to know what direction the Currency wants to go.

I suggest watching the cloud on a 15 minute chart, basing direction off my thread.

You should look over last week charts and see how you would have traded it based off my directional call. Early in the week you would have made easy money, volume tapered off towards the end of the week though.

DT - making money on cable these last few weeks has been easy. I have simple break out system that has netted 350 tics so far this month - normally only in the market a few hours a day. I trade 60 min time frame - but we all different. I couldn't look at those clouds would drive me mad!! But if it works for you good luck. My chart has 2 lines on it - a buy and a sell and it works 80% of the time maybe 4 trades a week(in the current market).

 

[Depth Trade]

DT - making money on cable these last few weeks has been easy. I have simple break out system that has netted 350 tics so far this month - normally only in the market a few hours a day. I trade 60 min time frame - but we all different. I couldn't look at those clouds would drive me mad!! But if it works for you good luck. My chart has 2 lines on it - a buy and a sell and it works 80% of the time maybe 4 trades a week(in the current market).

Yeah, it can be hard on the eyes having to focus on so many different indicator, but once you get used to it, watching and knowing when to enter off the clouds can save you alot of money.

Sounds like you had a good run with Cable. Nice job!
Becareful, now the market has lured you in with of couple wins.

Like I have said before, I am not trading off Ichimoku. One can not really trade off indicators alone. You can have a good run, but when you get into a choppy range and have been up for days/hours, you'll start making bad decisions. This is why I suggest you watch my calls, trade off the Ichimoku.
You'll be on the right side of the market and the 'clouds' will filter out 'noise'.
Even then you may not make money.

 

[Claudia123]

Yeah, it can be hard on the eyes having to focus on so many different indicator, but once you get used to it, watching and knowing when to enter off the clouds can save you alot of money.

Sounds like you had a good run with Cable. Nice job!
Becareful, now the market has lured you in with of couple wins.

Like I have said before, I am not trading off Ichimoku. One can not really trade off indicators alone. You can have a good run, but when you get into a choppy range and have been up for days/hours, you'll start making bad decisions. This is why I suggest you watch my calls, trade off the Ichimoku.
You'll be on the right side of the market and the 'clouds' will filter out 'noise'.
Even then you may not make money.

I been trading some years and now consistent week in week out but only since I ditched the indicators.

The good thing about trading for me is that it is something I have learned myself. To rely on someone else for signals would be all pointless. I learnt discipline - lol used to trade 20 times a day now one maximum.

 

[dick_dastardly]

OK, so most people ( including me ) loathe a con artist* that bit I get, but what I can't understand is why some of you guys seem to get so wound up about these inevitable, ever present, snake oil salesmen that show up around here.

Every once in a while a thread like this one kicks off accusing some sod of this, that or the other. Then come the pack dogs, spouting the usual arguments.

Isn't the business we're all in ( trading ) dependant upon the greater fool principle ?

Surely, anyone that can't stomach being in the same room as a conman isn't really cut out to be a trader in the first place ?

This guy may or may not have broken FSA rules or T2W rules but at the end of the day that's the Mod's problem. They know the facts and obviously they've decided to let him stay.

It's just not worth getting upset about.








* DT, I have no idea if you're a con artist or not and TBH I couldn't care less but will you please please please learn the difference between you're and your







dd

 

[Splitlink]

I've never seen a snake oil salesman last as long as this one. So, what is the reason?

 

[trendie]

I've never seen a snake oil salesman last as long as this one. So, what is the reason?

he has the one redeeming feature of releasing caged raccoons, (or beavers, or some small furry creatures) from captivity to freedom.