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You're falling for the oldest trick in the book being in a room like that, if they don't show their actual trades and show they are successful then they aren't actually trading successfully. If you think about it, if you wanted to grow a trade room business and you successfully made millions, just literally post a broker statement front and center on your website, you would skyrocket in membership. Who wouldn't do that if successful?
The room I'm in posts a statement every day, and they live stream every trade they make every day. It's a 1/1,000,000 kind of thing to find that though, as most of these hacks don't really trade and that's why they have a room
I doubt it..
but if you did have that information, you would be able to plot their success...
like the people who are permanent bears, they know eventually they will be right and when they are they play that up... we as humans forget how many times they are wrong... so pundits of this style make a permanent living seeing nothing but doom and gloom, and their desire to earn a living and appear right (rather than be right) has no bearing on their morals of the damage they do keeping people out of the market over the past years
just think... 100$ (100 shares) of McDonalds bougnt through their DRIP funds in the 1970s would have given every person who put that money in, 20 million dollars today for retirmeent if they just left it there...
THATS how damaging the negs are
but if you actually knew the trades and you could plot their successes vs failures and knew the real numbers
what would keep you there?
There aren’t many rooms out there that do this so I’m fairly certain I know which one you’re referring to. I think it’s funny when I’ve been in “other” room’s webinars where they’re promoting how good they are at trading and how easy it is to duplicate their strategy, then when the occasional attendee says “show us your statements” the presenter gets all huffy, gives some poor excuse for not doing so, and then boot the requesting attendee(s) from the room. Standard practice for trading charlatans. We all know where they really make their money...
The oldest trick in the book is not that... its connected to the oldest profession...
on another note though... this reminds me of rainmakers
Rainmaker myths: When pressed to explain extraordinary rainmakers’ success, lawyers we interview often resort to one of three kinds of myths. First, the Hero Myth chalks up collaborative success to the rainmaker’s characteristics like inimitable charm and charisma, peerless intelligence, and superhuman stamina that attract both clients and loyal teams. Alternatively, the Midas Myth suggests that successful collaborators have been granted extraordinary gold-generating powers by the powerful gods – as in, they inherited an institutional client that produced endless riches by demanding huge teams. Third, in the Myth of Serendipity, rainmakers are like the ancient princes of Serendip who made wonderful discoveries through sheer happenstance.
Putting aside the modern meaning...
These people would make a living going from place to place claiming to be able to make rain (by whatever means)
When they arrived in a dry place, and the inevitable happened, they would garner great reward from the people
when they arrived and it stayed dry, they, like astrologers would have all kinds of reasons which would place blame on the people and garner a temporary power... they tended to leave before things got too hot for them...
these are modern versions of the old time rainmakers..
[again, putting aside the more modern colloquial use of the term in finance]
Everyone is right, there is nothing preventing anyone from doing that. I found two rooms/systems that show live trades with their account number on the DOM. Veritas Futures/Target Traders Pro calls out his trades and shows them in his live account and posts his statements. And 10-Minute Trades trades news announcements and shows his live account as he takes the trades. I've been trading with Veritas and just passed a LeeLoo evaluation in ten days and just started trading my funded account yesterday. I'm up 400 bucks so far. I know everyone is different and two days does not make someone a success but at least they both might be worth some research and due diligence.
This thread is most interesting.. I have seen multiple trade rooms claim they are prohibited from trading live in their rooms because they would need to be licensed registered representatives. Being registered with the NFA would be a big hassle therefore they can only sim trade