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And don't forget Mark Brown is a major vendor of a product that competes
with Metastock, Traderware.
John
----- Original Message -----
From: Neal Hughes <neal@xxxxxxxxxxxxx>
To: <metastock@xxxxxxxxxxxxx>
Sent: Tuesday, May 16, 2000 1:44 PM
Subject: Re: Be Warned about Guru's
>
> Hi Scheier,
>
> Mark is well known for his brash approach. And he, like
> everyone else, has his own agenda.
>
> Not everyone can be interested in every message on this group.
> It's easy to delete the uninteresting ones... And after a
> while you learn what to expect, you know what the email
> will contain, once you see the name of the author.
>
> Although we can't all agree on everything Mark has to say,
> he does everyone a service by hi lighting major traps that
> traders fall into. He encourages a healthy skepticism, and
> shines light on important issues.
>
> Vendors of mechanical trading systems, newsletters, and
> trade recommendations are aggressive. Too aggressive, and
> often outright dishonest. Hypothetical and backtested results
> are abused to lead people into losing money unwittingly.
>
> Traders have enough stacked against us already, without
> the scam artists targeting us.
>
> Mark provides an important voice for novice traders. Long-time
> members of these lists have learned to take his words with a
> grain of salt. If it seems he protests too much, try to
> overlook his passion, there are sometimes gems of knowledge
> hidden in the noise.
>
> Now onto other important stuff...
>
> Hey, the NASDAQ (QQQ) is at major Fib resistance between 90.50
> and 93.00 today. Lets see if it's enough to turn the market
> back in the direction of the weekly down-trend, or if it will
> merely stall the market temporarily and continue in the
> direction of the daily up-trend.. Until this resistance is
> dealt with, it's a good time to take short-term profits
> on the long side.. It's easy to re-enter the market once
> the odds are better..
>
> If anyone is interested, I can post some charts and explanation
> of how the Nasdaq has behaved beautifully on the 60-minute chart..
>
> Intraday 5-minute scalpers could have done extremely well if
> they studied the 60-minute and daily charts recently.. Predictable
> entry and profit objectives have been right on!
>
> QQQ is really responding to Fibonacci levels very nicely. The
> difficulty is that the daily trend is changing, and it contradicts
> the stronger higher time-frame trends right now..
>
> -Neal.
>
>
> >At 09:27 AM 5/16/00 -0400, scheier wrote:
> >Interesting post, but irrelevant. This is not a forum for self
promotion.
> Black
> >boxes are rarely discussed and it's certainly not a place where anyone
> would expect
> >to solicit business. This is a forum for the testing and exchange of
> ideas and
> >techniques. It's also a forum to bear witness to others who are making
> the art
> >of trading work. That's both inspiring and challenging. So I'm
> wondering what
> >was the point of this post. What are you trying to sell? Me thinks
he
> doth
> >protest too much....
> >
> >Scheier
> >
> >Mark Brown wrote:
> >
> >> Hello metastock
> >>
> >> what the cftc has done lately is crack down on people who make claims
> >> of winning trades without making it clear what the risk is. the cftc
> >> investigated and found that most ALL people who were trying to get
> >> clients and or bragging about all the winning trades they were making
> >> in FACT did no even have a trading account of their own.
> >>
> >> this is the way they manipulate to play on your greed that your
> >> missing out ect. claims of a high percentage of winning trades was
> >> one of the tip off's of a possible scammer. when in doubt - ask for a
> >> disclosure document and an independently audited track record. also
> >> ask when was the last time the advisor was audited by the nfa. i
> >> would also suggest that you check the basic listings at the nfa web
> >> site.
> >>
> >> be advised that anyone who is a nfa member and cta is prohibited from
> >> giving trading advise without fist having that person read and
> >> acknowledge a risk disclosure statement.
> >>
> >> For more detailed information about the risk associated with trading
> >> futures please contact the CFTC or the NFA or visit their web site
> >> -information listed below.
> >>
> >> Commodity Futures Trading Commission
> >> Three LaFayette Centre
> >> 1155 21st Street, N.W.
> >> Washington, D.C. 20581
> >> www.cftc.gov
> >>
> >> National Futures Association
> >> 200 W. Madison Street
> >> Suite 1600
> >> Chicago, Illinois 60606-3447
> >> 1.800.621.3570.
> >> www.nfa.futures.org
> >>
> >> Beware of Websites Selling Commodity Trading Systems that Guarantee
High
> >> Profits with Minimal Risks
> >> http://www.cftc.gov/enf/00orders/posting4-tradingsystem.htm
> >>
> >> >From the CFTC website also see the public advisory:
> >>
> >> The following respondents and their websites were the subjects of the
CFTC
> >> orders:
> >>
> >> Firm or Individual (click to view Order): Website Address:
> >> Oasis Publishing Corp. and Gordon J. White
> >> http://www.pr-success.com/; http://www.risktaker.com/
> >> Mohammed Najib Taybi
> >> http://www.yenman.com/
> >> John B. Reily
> >> http://www.bonds2000.com/
> >> Paul B. Judd and Paul Judd International Corp.
> >> www.pauljudd.com/
> >> Michael P. Calo d/b/a First Financial Trading
> >> http://www.pr-success.com/
> >> Christopher F. Salter d/b/a Christopher Fernwick
> >> www.learntoprofit/futures/index.htm
> >> RS of Houston
> >> http://www.rsofhouston.com/
> >> Eron Demian Read d/b/a New Age Trading Techniques
> >> Global Futures Exchange & Trading Company
> >> http://www.natt.net/
> >> Trendy Systems, LLC; Allan P. Harris; Joseph Prewitt
> >> http://www.trendysystems.com/
> >> Ellery Coleman d/b/a Granite Investments
> >> www.choicedaytrades.com
> >>
> >> The ten orders require the promoters to cease and desist from violating
the
> >> provisions of the Commodity Exchange Act (CEA) and the CFTC's
> regulations which
> >> the Commission found they violated; to undertake, among other things,
to
> make
> >> no unsubstantiated profit or risk claims; and to pay $10,000 civil
monetary
> >> penalties, unless respondents have demonstrated to the Commission that
> they do
> >> not have the financial ability to pay such a penalty.
> >>
> >> --
> >>
> >> -Thanks, Mark
> >>
> >> ps it seems most crooks in this business always talk about their
> >> winners all the while conveniently NOT talking about their losers.
> >
>
>
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