planetkill 

I'm sorry if I missed it in the posted information already. Would like to ask if funded trader accounts qualify for statement verification.

The intention is yes but "it's complicated" as you may imagine. We might need to limit to certain ones in the beginning until we flesh out our AI forensics further.

wldman 

Hey Mike. I appreciate all that you have done for decades now. If I'm understanding correctly, broker statement verification is not mandatory...but it is available and would likely be a valuable "standard"? Do I have that right? So, from my perspective: I 100% get that and what validation would accomplish. Add that I don't think I was/am headed to a place where I call out live day trades all day long. To do that, divide focus time that way I'd have to earn hundreds of thousands from the effort. There is NO WAY that I publish account values or actual trading size. In 10 plus years here I don't think I have ever done that...very few have actually. I understand the desire and why people feel the need for that...but, when I go for a prostate exam, I do not ask the practitioner for a copy of their medical degree and their board certification, right? Why? Because I chose the doctor and did my due diligence on them and their practice history before I let them shove their finger up my...forget it. Most guys that I know do not advertise their account/trade size or any details about their personal finances. One time I was actually with a very prolific and well known trader at the corner of Madison and La Salle and a woman dropped some change in his Starbucks cup....He said, "Thank you, God Bless you", and we laughed our asses off while getting a new coffee. The guy is high two comma net worth. So, there are "privacy" issues. The other thing, and this may be difficult to understand, is that most traders, especially the ones that don't "sell" subs do not out themselves as prolific money earners...just the opposite. Guys want to be know as "stand up" all around good guys...someone that you'd love as a neighbor or as coach of your kids team. It is tiresome for people to be included or catered to because the "have money". Folks feel like money shouldn't be the thing that validates them. There are a few reasons for this. So if I was going to be a leader with a paid side offering, I'd have to set up a new and separate account to participate at a de facto credibility standard...to prove to followers that my methods and experience is valid and worth, what, 29 bucks my end per month to a "follower"? I'd be way more amenable to the follower showing ME their statements and confirms and having them justify their actions to me in exchange for a percentage of the net alpha created from their advancement under my leadership. NOT a 2 and 20, but something based on that metric. What would happen is I'd end up with a dozen "followers" (because I'd fire most of them). If that was 12 accounts that started at $100,000 and we did 2x for the year 20% of net alpha over S&P is less that $200,000 per year. Seems like a hard row to hoe. What am I missing? -Dan

The medical profession does not have a history where 90% of urologists are fraudulent

alucko33 

The medical profession does not have a history where 90% of urologists are fraudulent

Interesting that is the response.

I was set to "go off" in typical wldman fashion, but in drawing the mouse near for that purpose I realize the futility in that.

This is why I don't post. This has a great deal to do with why "real" traders leave the forum.

I'll visit from time to time.

All the best guys.

-Dan

Big Mike 

We are still in closed beta. Make sure you signed up for the beta so you're included as soon as possible

I signed up for Market Chat on your first posting months ago but I haven't received any info about the beta. Did my signup get lost? Am I on the beta list? If not, can you put me there?

Thanks -- Kim

twosigma 

I signed up for Market Chat on your first posting months ago but I haven't received any info about the beta. Did my signup get lost? Am I on the beta list? If not, can you put me there? Thanks -- Kim

You should have received some emails by now. Can you send an email to [email protected] from the same email used for sign-up and I'll investigate.

Can't see why some traders are panicking, with some even threatening to leave FI, when statement verification is required for the Market Chat real-time trading. What is wrong with that?

Devil Man 

Hey guys do you have experience with Warrior Trading / Ross Cameron? ...tons of youtube videos....and this: Federal Trade Commission Cracks Down on Warrior Trading For Misleading Consumers With False Investment Promises Investing Company and its Owner Will Pay $3 Million in FTC Case April 19, 2022 FacebookTwitterLinkedIn Tags: Consumer Protection Bureau of Consumer Protection Investment Internet commerce deceptive/misleading conduct Finance Advertising and Marketing Online Advertising and Marketing Advertising and Marketing Basics The Federal Trade Commission is cracking down on the Warrior Trading day trading investment scheme for making misleading and unrealistic claims of big investment gains to consumers. The FTC alleges that Warrior Trading and its CEO, Ross Cameron, used those claims to convince consumers to pay hundreds or thousands of dollars for a trading system that ultimately failed to pay off for most customers. As a result of the FTC’s case, Warrior Trading will be required to pay $3 million to refund consumers and will be prohibited from making baseless claims about the potential for consumers to earn money using their trading strategies. “Warrior Trading is paying a heavy price for misleading consumers with bogus money-making claims,” said Samuel Levine, Director of the FTC’s Bureau of Consumer Protection. “The FTC will continue its crackdown on false earnings claims and phony opportunities.” Warrior Trading, based in Great Barrington, Mass., promotes day-trading investments online, claiming to sell a trading strategy that will show consumers “how to make a profit in the markets.” From 2018 to 2021, the company made tens of millions of dollars selling its programs online. Day trading is a form of investing where consumers buy and sell stocks over very short intervals throughout the day, hoping to make profit during the very short times in which they may own shares in a particular firm. The FTC’s complaint alleges that Warrior Trading’s advertising showcased the trading results of its CEO and founder, Ross Cameron, claiming that his strategies were both “profitable” and “scalable.” Warrior Trading deployed deceptive earnings claims throughout its sales pitch in violation of the FTC Act, and the Telemarketing Sales Rule (TSR). According to the complaint, the vast majority of customer accounts actually lost money, with numerous consumers losing thousands of dollars trading on top of the thousands they paid Warrior Trading. In its online advertisements, Warrior Trading exhorted consumers: “Learn to Trade With Certainty Towards The Financial Freedom You’ve Always Wanted” “Learn How I Made over $101,280.47 in Verified Profits Day Trading Part Time in Under 45 Days Using 3 Simple Strategies that You Can Use Immediately to Increase profits and Reduce Losses NOW!” “Start trading over my shoulder side-by-side with me because I guarantee you that next week, the week after, the week after that, I’ll be trading the one or two stocks each day that move up 20 to 30 percent.” Enforcement Action: Under the FTC Act, and the TSR, the FTC has the authority to take action against companies violating consumer protection laws, including engaging in unfair or deceptive acts or practices. Under the court order agreed to by the FTC and Warrior Trading, the defendants must: Pay consumer redress. Warrior Trading must pay $3 million to consumers harmed by its false earnings claims and phony opportunities Shut down bogus earnings claims. The order prohibits the company from making unsubstantiated earnings claims and misrepresenting that purchasers of their products can be successful in trade regardless of their educational background, the amount of capital they have to invest, or the amount of time they spend trading; and Prohibit TSR violations. The company is prohibited from further violations of the TSR, including making any misrepresentations through telemarketing about investment opportunities, including the earnings potential or amount of risk a consumer might face. The Commission vote approving the stipulated final order was 4-0. The FTC filed the proposed order in the U.S. District Court for the Western District of Massachusetts. The Commission thanks the U.S. Securities and Exchange Commission, Division of Economic and Risk Analysis, Office of Litigation Economics for its invaluable assistance and analysis of the relevant trading data in connection with the Warrior Trading matter. NOTE: Stipulated final orders have the force of law when approved and signed by the District Court judge.

https://www.tradingschools.org/reviews/warrior-trading/

He's such a scammer, i thought that prior reading the above review.

Big Mike 

You should have received some emails by now. Can you send an email to [email protected] from the same email used for sign-up and I'll investigate.

Same. Nothing in the inbox.

wldman 

This is why I don't post. This has a great deal to do with why "real" traders leave the forum.

Care to explain what "This" is?

wldman 

Same. Nothing in the inbox.

Can you check spam? Emails coming from [email protected]