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It is hard to respond to all these direct rebuttals and still be perceived by the higher authorities as having a healthy debate. But you are directly quoting me.
First I absolutely have an agenda. To demand these self-proclaimed successful scalpers selling products actual show proof of their claims. I know that is just so radical.
Open my eyes. One of is blind believing what the scammers are pushing and it is not me.
Every business must have some sort of acceptable test of proof. Every business will be different. I cannot go through you entire list but I am in the Real Estate business and let me tell you their are strict laws about timeshares that if you violate you will be prosecuted so fast your head will spin. It is very regulated.
Online dating - Did they promise you would get a 18 year old super model as a girl friend. Because that is basically what the Trading Room claim. I am not really aware they make any claims.
Certain Organ enlargement solutions - well you might have me on that one, but who actually is dumb enough to believe them, plus you will know if it works or not really really fast.
I can not fight to clean up every industry but this falls under the realm of the financial industry. And no mutual fund, hedge fund, CTA or others can go around making false claims. It is a disgrace and needs to end.
Stop and think about it for a second. I am fighting for honest and transparency and what are you fighting for - Deception and scamming people.
BTW doesn't the fact you are putting Day Trading Rooms in the same category as Certain Organ enlargement solutions tell you something?
Can you help answer these questions from other members on NexusFi?
"If one believes following vendor can lead to consistent profitability from the first place, one might actually be too dumb to get it.
"
How many times do people have to address this same illogical point. This is what shill say to change the subject. No one and certainly not me is saying you should be able to blindly follow someone.
Let me try another approach. Let say you want to be a real estate investor. You might want to read books by an actual successful real estate investor. That is reasonable. It does not mean you will be successful. But I seriously you want to read book by writers claiming to be successful real estate investor but never invested in real estate in their entire lives or know a single thing about real estate investing. I would want to buy a book by a Real Real Estate investor who busted his ass and made it not some scam artist.
If you do not see the difference I can not explain it.
Do you really think people want to buy trading education or join a trading room from someone that is a con artist (general terms not specific to this thread)??
I tell you want I think. I think people are looking for genuine sources of information and they beleive the trading room or trading course they buy is being delivered by a truly profitable trader. It has nothing to do with blindly following them.
it is just so disheartening when you ask for these Supposedly profitable Day Trading Room operators to actual show proof of their fantasy, and yes most are fantasy, claims there is so much opposition.
What in the world do you think the regulators would do if they actually started to regulate this business. You think a mutual fund can just make up fantasy results?? Absolutely not. They would demand honest and transparent results.
At some point arguing over such an obvious thing is even too draining for me.
At least we both agree on at least this one point...
Best of luck to your journey in standing up to and cleaning the vendors.
But im good sticking to my journey seeking consistent profitability instead...
Even I must admit this is becoming an insane argument. How can you not get it. You are proving my point. That dating site committed fraud and they are going after them. That is the point I am trying to make. Yes any business can commit fraud, who said they cannot?? The regulators have finally awoke up and have gone after Open Range Trader and Sideways Market and I hope they expand to take out every scam artist Trading Room making wild ass claims.
Madoff committed fraud even a heavily regulated business. And day trading is about as regulated as organ enlargements as someone pointed out.
Again I cannot believe I have to defend that these day trading rooms who make fantasy claims need to show proof of their claims. Are you Al Brook's son-in-law. That would explain a lot.
You sick and looking for a doc. Do you open the yellow pages?? no, You ask for someone with proven record that can help you.
Same with your car mechanic, your dentist, your financial adviser, your accountant.
You want to learn a new subject? you look for a reputable teacher/school, not for the one that placed a big one page ad in the Daily News classified section. You look into the teacher background, his credentials etc.
Will you walk to a store front with a sign: we are financial advisers and say: teach me to make money since you have this big sign in front of your store?
If you do, than for sure you should buy any course from any person that try to sell you their winning formula and there is no need for you to verify if it works for the creator, You will be the one that pay to try and he/she is the winner that gets paid while you find out if it works or not. One of you is for sure 100% the winner. Guess who may not be one at the end of the day.
Some people will always be naive and believe that people are good and there is free lunch. No need to prove anything until we will find out your are a fraud. Tell it to all Madof investors....
If you are not happy with this vendor move on or do something
Report them like we did to JJ of Sideways Market
Spend your energies on your trading and yourself and your family
Let it go guys if you are not able to take that next step of reporting a fraudster or if you are just not happy then just move on and find someone else who yo are comfortable with and the style of trading that works for you
Madoff is actually a bad example here, because he did have a "proven" track record, it just happened to be fake. And he didn't even advertise, he got new investors by word of mouth, just what you advise.
But generally I agree with you, because what you are trying to say (my mind foo at work) is that when you see a pro of any business, you expect that pro to have a license and that he practices his business according to that license, following rules and regulations.
The problem is that there are no such licenses in the trading vendor business and anybody can become an "expert" even if he was previously a plumber or even a doctor. So the bottomline is, you can only judge a vendor by its VERIFIED track record.
Well, there could be one more measurement, the number of profitable followers. So here is an exercise for the curious for the weekend: Go back to the beginning of this thread and you will find a few members vouching for Al's system back in 2015. Then check if the same posters still post here a year later. You will be surprised...