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BTW, if anyone is reading this thread and thinks to themselves "I'm not going to post to my journal anymore because of this", then there is really only one question that should be the deciding factor.
That question is simply "Am I purposely deceiving people or lying about my trades?". If the answer is yes, then yes by all means stop posting and stop coming to the site altogether. But if the answer is no, then you have nothing to worry about and you are using the journal as I have intended -- a way to learn that benefits yourself as well as others.
Fair enough. And you are right, it is some of the folks in the thread who are making suggestions for stricter rules etc. It is not you. I will wait and see how this plays out.
There is no such thing, for the masses, in my opinion.
It has been talked about in other threads, but briefly -- you can fake anything. You can have a 100% legit broker statement that shows you made a killing, when in fact you had four other broker statements that you didn't show where you lost 10x as much. You can go long one account and short the other and post the winner. You can Photoshop.
You can do any number of things to lie to people and I won't be elevating those who know how to deceive others by putting any kind of weight behind such a movement (audit trail, verifiable, etc).
but that makes the assumption that participants WANT to mislead. I try to demonstrate in the journal thread how simple it is to post legit trade information with a few clicks....fewer clicks actually than most of the trades that get posted...with all kinds of cheering and jargon in captions with arrows.
Click executions, take a pic and include partial acct #, post...pretty simple.
So that is what I meant by audit trail...and yes it could be faked.
The best thing I've come up with (several years ago) is a trading competition where I provide paper accounts to those who enter and futures.io (formerly BMT) tracks/posts the results. Unfortunately, the CME has not allowed me to do it so far. I'm still trying.
I'll avoid the urge to out the snake oil salesman and I'll try to be as transparent as possible in my own posting. If everyone did that it would go a long way to "fix" the minor issue that has now gotten way too much time from all of us.
I completely agree with plenty of what you've written here Mike. Just to clarify, I misread what the fellow originally wrote hence before you posted this I had edited / retracted what you've quoted here.
Personally my view on the best way to deal with the liars is to ignore them and try to continue to educate the community and the naive and dishonest folks will expose themselves as time wasters naturally.
Why don't you simply identify the posts or journals which you think are deceiving people. Maybe keeping a thread just for this purpose. To be honest, i have a hard time figuring out who are the members who regularly post false trades. At first, i thought you were thinking about gaby or mfbreakout but honestly i just don't know. They appear to me as good traders. I like some of their trade ideas but i will never try to copy them. Welly is another name that comes to mind but again i like his style or what he is able to do on the ES.
I swore I was not gone to mention names, because you then get in fights with their followers. Please followers ignore my response.
But I had to respond to your post. You are right you can never be 100% sure, but IMO I am 99% none of the names you mention are trading live or posting all their trades. One hint is when people ask them question and instead of any intelligent answers you get ... I won't say it; just read their post for yourself and decide.
I can, but won't (at this time) for reasons I previously stated.
They know who they are, and most people reading this thread know who they are. You would think that would be enough to get dishonest people to go away.