|
PureBytes Links
Trading Reference Links
|
Hi Everyone -
A friend of mine called me tonight to get me to read something in March,
1998, Futures magazine.
After looking it over, it appears something has apparently changed. <g>
They were really a good mag years ago.
For those of you not subscribed, here's a sample of what's in this
issue...it's really a scream -
Get This:
Full Page Ad: Page 23- "Master Suite Does It Again!" R&W Technical
Services, LTD., Houston..."You can begin earning triple-digit returns
almost immediately with the R&W MasterSuite".....
Page 12: Article: FRAUD - "Trading System Ruled Fraud" .... The CFTC
charged R&W Technical Services, LTD. in Houston ...with fraudulent
solicitation, false advertising.....court ruled a $7.1 million fine..."The
CFTC doesn't believe that ANYBODY has a system that works...."
AND...Futures Magazine still ran their ad!
Full Page Ad: Page 93-
"Amazing New Workshop Reveals Secrets Previously Available To Those Who
Paid $100,000 or More!" (send $995 to find out)
Page3: Robbins Trading will help you pick a system and trade it for you -
(gee, I can play golf while your brokers make me rich?)
Page 4: Full Page: Advanced GET shows it picked the exact tops and bottoms
in (15 minute bar) Bond market with "new indicator" [hmmm....what happened
after that 3 day sample?]
Page 9: Winner! Best Options Analysis Software- OptionStation- (Notice the
endorsers- more cross endorsements)
Page 21: There's Louie Mendelson, "The Father of System Testing" - [Is that
like the godfather of Soul?] Tells you to "Stop Trading Blind" (Pushing
neural networks - the most optimized mush ever created by man)
Page 24: Front Running Scheme Uncovered - Couple guys made $2.4 million
putting trades in ahead of John Henry. May do 2-4 years time. (Well, at
least THEY made money)
Multiple Pages : Various articles by Trader Wanna- Bees talking about how
they have all the answers and here's how it's done. Summarized by one
article - beginning statement : " The simple classic channel breakout
[breakdown] system, using a 10-bar breakout on a basket of markets, we used
last month, had results that showed consistant profits over all markets
analyzed but a relatively low percentage of winning trades and high
drawdowns"..... (Gee, that's just what I've been looking for -)
Page 61 : WINDSOR BOOKS (Now THERE'S Credibility!) "7 Winners out of
Every 8 Trades Achieved an Outstanding $677,680 Gain" - (Seasonal Trades-
More optimized mush)
Page 65: Full Page- "How To Make a Fortune When the Market Explodes!"
"Easier than you Think" - "You Could Soon Be Making Trades Like These !"
(It shows a chart of the top of the Yen at the all time high of 125 area)
"This slide was worth over $25,000 per contract!" (and I suppose YOU caught
it with that system?)
Page 73 : Full Page - "The Secret To Making $1 Million in 5 Years or Less!"
" I am already on my way to $1 million using what I learned in your
seminar" (Yeah, doing delta neutral option spreads - get ready for the big
slam, pal)
Page 85: Full Page - "11 All-Star Advisors On One Hotline!" Only $2.95 per
Minute- "These Market Masters Can Help You Build a Huge Fortune!" (Words
cannot express what I am thinking about this one)
Page 89: Full Page- "Amazing New Book" "Unlimited Upside Profits - Upwards
of $5 Million per year is actually being made" "A Florida man has Hit
100% Winners and Started a New Career Managing Money"
(I hope he kept his day job) (More Delta Neutral Hype)
Page 91: Full Page- ...."Here's How to Capture Your Share of the Millions
That Will be Made" [and lost] -
"In Early 1997 Wheat Futures earned Profits of 136% in Less Than Three
Months" [hmmm...Wonder what Wheat has done since then?)
And then the CLASSIFIEDS - HA! It's like every ex-trader who ever blew
out has an ad running there!
And...there's MUCH more- It's actually quite funny. No other industry
(other than gambling) lets this go on in such a blatant way. If these were
automobiles, or computers, or ovens, etc. being sold, the public would
wise up quickly and stop buying them. BUT...this magazine paints a
get-rich-quick dream that keeps the new suckers coming in year after year.
Rock and Roll, baby! <g>
Tom Cathey
|