Hilarymannah
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FK Sake!,....it's the ROTH!!!!
Lord Flashearts Rogue Traders and Watchdog Thread
- Thread starter Lord Flasheart
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trading100
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Usually traders who goes on about 'discipline' are suffering from a delusion like somebody who thinks he is harry potter. I posted this at myfxbook.com
[BOTTOM][TOP]boris fraud
http://www.myfxbook.com/members/boriskvc/boriskvc/19249
Of course it will be free, how could they charge you for editing an Excel spreadsheet after the event on MT4 server. The account is an obvious fake from Alpari, it is meant to generate the illusion that somebody out there generated 220 winners out of 223. This "Boris" person for example hasn't posted a single live real-time trade on his stocktwits.com account.
Gambling houses do the same, rig the machines so that the owners , brother's half sister "wins" a million dollars, draws in all the gamblers. The forex trading houses view their clients as naive simpletons for actually thinking they can beat the market. The lifespan of a retail forex trader like a gambler running through his last $50000 is around two years. During this time the increasingly frustrated trader attends Oliver Velez courses or listens to "legendary" trader Larry Williams who was fined by the NFA for fraudulent misrepresentation. He lost a couple of million in a fund he managed, which is why he turned to "teaching".
http://www.jurikres.com/snake/lawsuits.htm "...NFA fines Larry Williams for not reporting to potential clients that, while his personal account in a promotional 1987 contest was very profitable ( a gain of + $902,599 ), his managed accounts for clients lost substantial funds ( - $6,122,281 ). This constituted deceptive and unbalanced promotional material and disclosure statements. Details in William Gallacher's book Winner Take All.
Footnote -- In July 1988, the Larry Williams Financial Strategy Fund was launched, followed in March 1989 by the World Cup Championship Fund, managed by Larry Williams, Jake Bernstein and two others. The 1988 fund lost more than 50% of its clients' equity in barely one year, as reported in the October 1989 issue of Futures magazine. The 1989 fund also lost more than half of its original equity by May 1990. ..."
http://www.amazon.com/gp/product/1557385335 Winner Take All: A Top Commodity Trader Tells It Like It is [Hardcover]
With a penetrating intelligence and a sharp wit, Bill Gallacher dissects many of the industry's leading lights, exposing the frauds, deflating the pompous and poking fun at the seers who believe they can predict the future. Along the way, he demonstrates why most traders lose and, most importantly, what it takes to win.
Like me you might well be wondering why all these "competitive Retail Forex businesses" would want to get into the brokerage business in the first place. Helpfully Boston Technologies also provide an answer to that very question. If you download the "Detailed Business Plan Framework" from that page you will discover all sorts of interesting snippets of information about how forex brokers make money. Various business models are outlined. For "straight through processing" it seems as though:
http://trading-gurus.com/start-your-own-brokerage-for-dummies/ Rule of thumb calculations show that if [a customer] deposits $10,000 then the broker will make about $1000 in profit over a month if he is active. For an inactive trader he will make $100. In the "closed loop dealing desk" model however, the broker takes on more risk, but makes bigger profits: Most small retail customers have no experience and 95% of them WILL lose money. Here, most customers act like gamblers and your job is to act as the "house". This is a "non-recurring" customer model in that most customers lose their cash, and do not come back with additional investments. Ongoing customer acquisition is therefore very important. So there you have it. You now know how the over the counter brokers make their money from forex. The obvious question to ask next is how can you make money from forex?
Oliver Velez selectively picks only those stocks which so happen to match his trading theories, leaving out the losing trades. He is selling people a pipe dream and can't produce a real or demo trading statement from a reputable firm like mbtrading.com. Demo trading results are fine as long as the broker is reputable.
Then we have another set of vultures: Trading Psychologists. Imagine you are delusional thinking you are forex-wonderwomen and jump of your roof in red cape every morning , spraining your ankle. The more you trade , the more you lose. You can't sleep, your pulse racing. Trapped in your delusion you can't accept the obvious: The trading methods don't work. Like a Scientologist e-meter facilitator the "Trading Psychologist" swoops down on the hapless trader: "Stick to your methods!" Which is like a Psychologist telling somebody who thinks he is Harry Potter that he must twist his broom to the left a bit, maybe now you will get airborne. Everything but the truth is told, only 1% eventually make it in Forex and 99.99% of trading methods don't work as described in the thread "Technical analysis fallacy" on forexfactor.com. Fibonacci retracements, support and resistance lines, above 200ma or below, are all colorful hogwash on a chart.
Forex dealers are generating fake statements and using Myfxbook.com as an advertising platform to generate profit hallucinations , like gambling houses create the illusion that you could also strike the bigtime. Fact is that the eurusd follows a random walk, there are only a few individuals in this universe who can trade forex.
Closer inspection of the Alpari account revealed that "Boris" and his brother "Boomer" weren't scalping, they made 10, 15pips consistently. Given that the chances are something like 1 out of 10bil somebody could actually make 220 winning trades out of 223, we can only conclude that some "Gremlin" got hold of Alpari's server.
Lord Flasheart
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Cant believe what subjects have been discussed here. What do you guys think of charmercharts and his newsletter. To me hes a complete rogue trader purely wanting to exploit anyone who will listen
Trader333
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If that is the case then T2W is the worst place possible for him to try and do this. Few people who try this survive the ensuing onslaught that always results from members who systematically take to pieces the questionable claims of those who are unable (or unwilling) to provide proof of what they are claiming to be.
Paul
barjon
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Not sure if I've said it before on here (it's a long thread now 
) but the general line is that we tolerate vendors so long as they post informative things which we think may be useful or interesting to members and the posts do not include any advertising - such as links to their site etc.
You'll appreciate that it's often quite difficult to draw the line. For example, members may have been discussing a product when the vendor of that product chimes in to answer questions or give explanations.
On the point raised by pboyles it's worth remembering that this is a free site and a public board which is itself liable for the content that is on it. Thus, T2W has to be pretty cautious when faced with legal challenge.
jon
) but the general line is that we tolerate vendors so long as they post informative things which we think may be useful or interesting to members and the posts do not include any advertising - such as links to their site etc.You'll appreciate that it's often quite difficult to draw the line. For example, members may have been discussing a product when the vendor of that product chimes in to answer questions or give explanations.
On the point raised by pboyles it's worth remembering that this is a free site and a public board which is itself liable for the content that is on it. Thus, T2W has to be pretty cautious when faced with legal challenge.
jon
timsk
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Hi pboyles,
I don't know if you intended this or not, but some members could infer from your post that the Mods / admin delete posts that are critical of individuals or companies in order to protect a business relationship (where one exists) between them and T2W. I can assure you 100% that this does not happen. Never has and never will. Threads / posts are only ever deleted for two reasons:
1. They breach the T2W Site Guidelines.
2. As barjon pointed out, to let them stand would leave T2W exposed to the threat of a costly legal challenge.
Tim.
Knowledge to Action had entire critical threads deleted, then we had someone post that he had received a T2W Partner offer from them (as part of their expansion into Australia I believe). I will try to find the other one, something makes me think it was an Australian company but I dont recall the details now, it was the same thing, people saying they were a scam, thread disappears etc.
There was also the IG thread that was very quickly deleted when a former employed started spilling the beans.
Timsk hello! I thought you'd gone to an african village to be a fisherman or something?
barjon
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pb
The reason mods are unpaid volunteers is to ensure that their decisions are not influenced by commercial T2W considerations. You can see "conspiracy" if you choose, but it's as Timsk has said - if it wasn't then i wouldn't be modding.
jon
OK so read post 135 here
http://www.trade2win.com/boards/first-steps/91452-live-trader-global-17.html#post1175552
I dont see a conspiracy, I see very clear proof that K2A is paying for marketing services from T2W, unless you're giving it away, which I somehow doubt. I know they threaten legal action all the time so I dont doubt they tried that. However dont you think that by agreeing to a 'partnership', or whatever you call it, that T2W is leaving itself open to these sort of allegations?
barjon
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I forgot to say that mods act independently without any "instruction" from T2W staff. That, too, is deliberate for the same reason that mods are unpaid volunteers.
barjon
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Yes, of course that can be the case. I hope, though, that regular members recognise and trust that we operate with the best interests of members at heart. I know that some don't believe that and have been highly critical as well as convinced that everything we do is an underlying marketing ploy. Well, as I said before, I wouldn't be modding if they were right.
'Course they'd just say "you would say that wouldn't you?" :cheesy:
jon
GammaJammer
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T2W is a commercial interest now. No big deal, it just is what it is. Doesn't hae to follow that everything's a huge conspiracy all the time but equally there's gonna be a resultant change in approach to this sort of thing.
People get way too wound up imho...
People get way too wound up imho...
I don't think I ever said it was the moderators doing it.
Trader333
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K2A was a partner long before the thread that was removed was even started. Your comments are incorrect in terms of sequence. As far as I am aware there have been no incidences of partners being taken on following a thread deletion which is why I asked which companies. I have also raised the K2A situation as an issue.
Paul
Paul
trading100
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timsk
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Hi t100,
You and T33 are at cross purposes. T333 was responding to comments made earlier by pboyles and not to your post. I don't know about the thread you mention, perhaps one of the Mods will be able to comment.
Tim.
Lord Flasheart
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Why dont you start a thread and make your calls on that,we can judge you there.you dont seem to have any stops on your trades. Does this mean your losers are are bigger than your winners and that you wait for them to go your way. Hope not,please explain
