All vendors are crooks!!

No, I was funded.

So they never get rid of funded traders?

I presume a fair amount leave because of the split but I amazed that in 18 months there wasn't a funded trader that was let go.

Do they charge any fees at all to funded traders?
 
I assumed that the honoury guild of trading vendors and snake oil salesmen would already have an affiliate scheme in place as an incentive for introducing new members ?

make sure you PM him your referral id before the competition gets to him :LOL:

To be honest - I know the guy actually trades and I know he actually trades off the book.

From where I sit, it would be a great benefit for me to hook up with someone like that or at least recommend them.

You know - someone that actually trades profitably.
 
Forgive me for my "ignorance" but I don't understand why the financial argument doesn't stack up.

Since we are talking hypothetically here lets assume a few things (and I'll use Dion as an example)

Let's assume he's been profitable for four years. In his first year he started with a small account as he had only just learn the ropes and he made $50,000. Second year he did very well, always upping his size and made $80,000 profit. Third year he made even more ; $130,000. Last year he made, lets say $150,000. The account would be growing steadily ; the performance would show clearly he is extremely profitable and making very good money by most:LOL: peoples standards. That would be irrefutable.

Now lets say that he can develop some very useful software for traders. He charges $300 and it hits the big time and is bought in bulk by firms for their traders and locals all across the world. Lets say in his first year he shifts 1000. So he's made $300,000 (or double his latest and best year) for taking absolutely no risk and making some software he believes in and which he thinks can help people.

Assuming all the above elements are true, there's a term for this in business (and in trading) it's called a no brainer.

Naturally, the same theory could easily be applied to a trading room. If a trader takes 3 - 5 trades a week and spends the rest of the time sitting there watching the markets, why on earth would he not make a risk free return for filling empty hours? It's hardly difficult to talk on a mic and show people what you are doing.

Part of the reason people always ask this question is because they presume all profitable traders have the key to making millions which really only goes to prove one thing ; they clearly have no idea of how the market works.

I used to know an outstanding trader. His up days averaged around £1,500 and he probably had a down day, averaging around £500 once every two weeks. He was about 2 years into the game, extremely consistent and made extremely good money. He worked long hours and very hard too. He had some liquidity issues that meant that while he could continue to make that money he had temporarily reached a glass ceiling of sorts and his skill, whilst transferable to a larger market like the spooz was also going to take some time to implement and adjust too.

One day he said to me out of the blue : "I'm tempted to set up a website - it would be hard scalping live infront of people because of the pressure and I don't know if I could talk and concentrate at the same time but maybe I can record my day and talk over the top of it after illustrating what I did".

My first reaction was "probably not worth the hassle mate - you're killing it as it is". He just looked at me like I was the biggest f*cking moron to ever walk the earth and said : Get 200 people to join a website paying £150 a month and thats £360k a year for...er...recording some videos? You don't think thats worth it?

As I said, that was straight from the mouth of a highly profitable and excellent trader.

But it's hardly surprising is it? There's another term for it. It's called business. The question of why do vendors do it is so interesting coming from "traders" because as a trader, it's all about return (and let's not forget rate of it too, right?)

It actually baffles me why people ask it all the time!

If I turned this on its head and said to you "you're a web designer for a company and earn £100k a year. Would you take on 2 extra hours work per day to freelance outside your company and get well over a 100% increase on your salary, are you telling me you would honestly say no?"

As I said, this all presumes that the material shown is good, that the trader is profitable etc etc. But since you already presumed that, this is my answer.

:LOL: That is the highlight of a very funny thread.:LOL:
 
I tried to buy one, and they charged my credit card TWICE

:devilish:

:LOL:


You tried? You mean that you did not get the goods and they managed to charge you twice? That is not The Hare that I have been reading :confused: You're slipping, gal. Try Paypal.
 
Yes but many of the idiots selling courses have neither the knowledge or the experience in the first place. They're just marketing the latest get rich quick rubbish, many of the same people were running property seminars (including Kreil i think) a couple of years ago, or timeshare schemes in the 90s.

:LOL:
 
I was at the Traders Expo over the weekend ..........(where were T2w gang ?)

it actually to me was less sharklike than I was anticipating......but as i walked around the Bullring (very apt) as an innocent wideeyed newbie (that i am) the sales pitches were flying around from mainly 12 year olds with spiked hair....

there were a lot of people there in search of a way to make easy guaranteed money that had absolutely no idea what trading really is but wanted experts to tell them

you know.......it broke my heart ........this industry is never going to progress in reputation until some of the good guys (and I am not in any way saying I am a good guy as I am a vendor :innocent:) get together and try to hammer out some recommendations or approaches that Newbies can at least look at before they are thrown to the Lions....... and I dont mean the stupid Warning slide everyone uses before they pitch ;)

N
 
I was at the Traders Expo over the weekend ..........(where were T2w gang ?)

it actually to me was less sharklike than I was anticipating......but as i walked around the Bullring (very apt) as an innocent wideeyed newbie (that i am) the sales pitches were flying around from mainly 12 year olds with spiked hair....

there were a lot of people there in search of a way to make easy guaranteed money that had absolutely no idea what trading really is but wanted experts to tell them

you know.......it broke my heart ........this industry is never going to progress in reputation until some of the good guys (and I am not in any way saying I am a good guy as I am a vendor :innocent:) get together and try to hammer out some recommendations or approaches that Newbies can at least look at before they are thrown to the Lions....... and I dont mean the stupid Warning slide everyone uses before they pitch ;)

N

That's what I've never understood, look how easy it is to catch some of these crooks yet nobody is interested. It makes you think that all vendors are very nervous about any sort of scrutiny or at least are unwilling to support any efforts to weed out the crooks, for whatever reasons.

You'd think the big, well established, companies would want to do something about it. I suppose they're too busy with their own dodgy dealings on a higher level.
 
That's what I've never understood, look how easy it is to catch some of these crooks yet nobody is interested. It makes you think that all vendors are very nervous about any sort of scrutiny or at least are unwilling to support any efforts to weed out the crooks, for whatever reasons.

That's a bit of an extrapolation ain't it?

If you could weed out the crooks, then surely there would be more $$$ for the non-crooks.

The problem is, a couple of disclaimers is all it takes to ensure you ain't a crook... Not in the eyes of the law...

[/Quote]You'd think the big, well established, companies would want to do something about it. I suppose they're too busy with their own dodgy dealings on a higher level.[/QUOTE]

Like which ones?

Darren Winters? Multi Millionaire Trader...

Exculsive invitation to live trading day
 
You'd think the big, well established, companies would want to do something about it. I suppose they're too busy with their own dodgy dealings on a higher level.[/QUOTE]

Like which ones?

Darren Winters? Multi Millionaire Trader...

Exculsive invitation to live trading day[/QUOTE]

Theres one question already, are any of them actually any better?

Also weeding them out isn't necessarily done purely by using the law. Reputational damage can do a lot of harm, like appearing on Watchdog or something.
 
Theres one question already, are any of them actually any better?

Also weeding them out isn't necessarily done purely by using the law. Reputational damage can do a lot of harm, like appearing on Watchdog or something.

Or appearing on T2W in some cases. I'm not sure the Baghdady gang came off very well in their attempts to manage their reputation in the current thread.
 
Or appearing on T2W in some cases. I'm not sure the Baghdady gang came off very well in their attempts to manage their reputation in the current thread.

No, but people still fell for it, though I suspect in much fewer numbers than would otherwise have been the case. I imagine he'll have trouble doing it again.
 
No, but people still fell for it, though I suspect in much fewer numbers than would otherwise have been the case. I imagine he'll have trouble doing it again.

Well, let's hope so.

Of course, he doesn't need to teach. He's World Trading Champion you know. And he made millions trading. At the NYBOT they called him the Macdady.

He only teaches out of altruism, he's told us that in his webinars. The highest ambition of all great traders (and Mahmoud IS the greatest, that's been proved) is of course to become trading vendors.

:LOL::LOL::LOL:
 
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