|
PureBytes Links
Trading Reference Links
|
Tom wrote:
<SNIP>
>Perhaps it's time these commercial "system" vendors were exposed for what
>they are....traders who start with good intentions, lose their asses, then
>start selling their trash to the public for a living. The way it's going
>lately, the NFA and CFTC will eventually and rightly put them out of
>business anyway.
There's a new scam now. Actually it's an old one. Vendors will sell you
their "goods", a system and a set of indicators, and then make it as
discretionary as hell. They show you all sorts of system stats and charts
claiming 100% + per month return on your account using their methods. When
you lose money, you go back to the vendor, and they claim you're too stupid
(in "nicer" terms, of course) to trade their system, and you need their
seminar (more money), "advanced" indicators to "fine tune" the system (even
more money), and on and on. Well, after all this "help," you lose even
more money. You go back to the vendor again and THEY have the solution for
a stupid trader like you...a private commodity pool where THEY trade your
account using THEIR methods. They claim that their PRIVATE commodity pool
(no NFA or CFTC oversight necessary if less than 20 people) is up over 160%
over the last several months! Of course, the vendor does not provide any
proof other than that an investor is ponying up another $100,000 to the
pool because the vendor is such a great manager! Why, even if you don't
join the pool, you can still trade through their IB and get their daily
faxed reco's! Give me a f***in' break! Sadly, this predatory cycle is
repeated with traders who should know better. FEAR and GREED...these
emotions are any system vendor's POT O' GOLD!!!
I say...to hell with them all...the "snake in grass" vendors and their
suckers alike. Maybe you are too STUPID to TRADE...a blown account is the
kinder mercy rather than lingering on like a brain dead corpse on life
support.
Keep on truckin' CODE MAN!!! You're TEACHING others how to fish...
Tony Haas
================================
Experience is knowing a lot
of things you shouldn't do.
================================
|