Lord Flashearts Rogue Traders and Watchdog Thread

My problem is that with posts being removed. i think most newbies come on here and
do a lot of lurking and you dont see them post for a while as they are building
their knowledge up. All the while they are watching the regular posters and admin
sniff out the scammers and snakoil salesmen.

We had on here posts being removed like people mention and maybe the site has had a letter from the vendor. Mr problem then lies with this is a public forum and most regulars can sniff out the scammers(me not included) b ut when posts are removed and newbies dont see them they can be inclined to think there arent many bad flaming posts so all is ok.

Look at Capatain Currency. Has give his system away yet we all know there is a further part to the system if we want to go and pay the money. Regulars have not flamed him, newbies can see this and have a degree of certainty that this guy and system is ok.

I also agree with the post by DT before this.
 
Hi DT,
LOL @ "Wrap in cotton wool". You don't need to wrap anyone in cotton wool. You just need to make this a less friendly place for con-men. Right now this place is con-o-rama..
I suspect one of the issues here - perhaps the biggest one - is defining what constitutes a 'conman'. Many, many years ago, when I first took an interest in trading, I paid about £100 for a spiral bound photocopied book called 'Champion Trader' by Shiraz A. Lakhi. It was quite well written but, from memory, I don't think it contained anything one couldn't get for free off of the interweb today. From this one can conclude that as a newbie I was a little naive, gullible and lazy - looking for the holy grail etc. I willingly paid £100 for a book which probably has a more realistic value of £10.00 - if that. I now look back on that experience and conclude that I was an idiot - not that Mr. Lakhi is/was a conman.

Level 1 of vendor - we know you are selling stuff & there is no evidence at all you can make money trading.
Level 2 of vendor - account statements have been posted here... (link) - we cannot verify the accuracy of these statements
Level 3 of vendor - live calls have been made here... (link) - we cannot verify the accuracy of these calls.
Level 1: Effectively, we already have this with the cash register vendor icon.
Levels 2 & 3: In my book - these come under the headings of 'Due Diligence' and 'Caveat Emptor' and should be carried out by prospective customers as part of their research to establish for themselves the credibility of the vendor, along with the quality, effectiveness and suitability of their products and services. It's not a function of T2W - and nor should it be.

Level 4 of vendor - mates with admin, we'll let them get away with blue murder.
If by 'admin' you're referring to Sharky - then this allegation is as ludicrous as it is offensive. Anyone that knows him at all will be laughing themselves silly at the very suggestion. Take it from me, it simply doesn't happen. Period!

Allow no more than 90 days at level 1 after which point - ban them outgright.

Now - if those links are forum posts, I can GUARANTEE you that not many con men will survive an attempt to post fictitious statements or calls.

Don't wrap the members in cotton wool - wrap the vendors in barb wire.

You don't need to approve vendors - the membership will do that.

I may be wrong, but my understanding is that your whole approach appears to be that T2W should assume 99.9999999% of vendors are evil and manipulative conmen unless they provide cast iron proof to the contrary. This smacks of McCarthyism which, IMO, has no place in a free, liberal and progressive community like T2W. Call me old fashioned, but I prefer a justice system centred on the 'innocent until proven guilty' model. In the event that a member is proven to be a conman or scammer, we have a very industrious and efficient team of Mods to deal with him/her.
Tim.
 
Last edited:
Timsk

Level 4 was a joke - do try to get your head around such things.

The rest... well it's obvious you support people here that rip off the members. "Innocent until proven guilty" ??? This isn't court you know. It should be "Lousy at trading until proven otherwise". As for "Justice system" - are you having a laugh?

The problem with the rating system I presented is that it is the result of "outside the box" thinking. Little actual action is required as the information will flow into the board and the board will organise the information to the extent necessary for the correct conclusion to come to light. This is of course, totally at odds with the current black and white thinking we see on many arguments here.

Anyway - hows about this for a correlation - those not making money trading supporting failed traders turned vendors.

Coincidence?
 
... well it's obvious you support people here that rip off the members.
DT,
I can only assume that, like the 'Level 4' comment relating to admin in your penultimate post, that this too is a joke.
My advice to you is to stick to the day job - the comedy circuit is not for you!
;)
Tim.
 
Call me old fashioned, but I prefer a justice system centred on the 'innocent until proven guilty' model. In the event that a member is proven to be a conman or scammer, we have a very industrious and efficient team of Mods to deal with him/her.
Tim.

How many vendors here did NOT turn out to be a scammer of some sort? Then there was the issue of the 'educator' with an FSA warning to its name who later became a T2W partner and used this position to market its courses to members.

I think we have to realise that T2W is run for profit and income comes from vendors and not members. Therefore a paying advertiser or vendor will always benefit from the 'blind eye' approach, all in the name of justice and the presumption of innocence of course.

I dont think this is particularly shocking, I know someone who works in the magazine industry, it is quite common for them to produce articles about the '10 best hotels in xxx' etc and then go out and sell their 'awards' to the highest bidders.
 
Though this thread had a great deal of potential to be one of the better threads on T2W as not only would it have provided some real, actual advice that could have helped some naive people to hold on to their own hard earned money AND the content/methods used to expose scammers would surely have resulted in some of the best lulzez ever. Unfortunately it has been turned into another 200+ post thread of absolute nonsense and utter sh*t.
 
How many vendors here did NOT turn out to be a scammer of some sort? Then there was the issue of the 'educator' with an FSA warning to its name who later became a T2W partner and used this position to market its courses to members.

BINGO !

99.9999999% are scammers - crap until proven worthy IMO

I think we have to realise that T2W is run for profit and income comes from vendors and not members. Therefore a paying advertiser or vendor will always benefit from the 'blind eye' approach, all in the name of justice and the presumption of innocence of course.

Actually - the vendors pay them nothing at all - unless there are side deals. The revenue comes from the advertisers.

People like Captain Currency & The Rumpled One get to sell their wares for free, despite the fact that most likely neither of them can trade.

I dont think this is particularly shocking, I know someone who works in the magazine industry, it is quite common for them to produce articles about the '10 best hotels in xxx' etc and then go out and sell their 'awards' to the highest bidders.

Indeed - hence Bangkok winning "Best City in the World" recently.
 
The problem comes from the way most people approach anything in life, not just in terms of trading. For example we get our minds poisoned from the beginning of any endeavour by looking around the World Wide Web as the first port of call for information. This is great for the very very few who are able to dissect what they need, but it is very dangerous for the majority.

Its human nature to want to do the minimal to get by. Most vendors know this, which makes their prey easy pickings! Everyone wants to compare to the next person instead of going out on their own.

A great example I see is on other threads on this board, such as what returns are possible to make? What does it matter what Joe Blogs makes, are you going to be satisfied if you make (or lose) the same as him? What if you should be making 10 times what he/she does, will you still feel good about yourself? Not only that but the thread then gets aggressive because someone states that they can make more than 2% a week. Where do these figures come from in the first place?

All traders must find their own way and not listen to anyone. Paul (trader333) pointed out in his post earlier that it appears to be human nature to believe what you want to believe no matter who warns you otherwise. This is so true, what ever anyone says to them won’t have any affect. People want instant success and they don’t like hearing the reality. So let them be, it’s the only way to truly evolve. After all, no one wants to hear it will take on average 3 years to consistently break even (unless you are the exception, and what makes you think you will be that exception), especially when system sellers tell you of the instant riches available next week.

There are very few traders worth listening to, and if you are diligent you will know who they are, because you are working things out for yourself. You need to know what you need, not what you want. Once this has been established the vendor issue will no longer be an issue. Not that it ever is for those who are on the right path.

The best threads are overlooked on this board; this can be seen by the amount of participation. For example, there are established members giving their opinions about the validity of projecting the market and newbies will look to them for guidance. But they are only “established members” giving their opinion, but it is not based on reality. If one is a scalper trading of news announcements then that is where their edge lies, but don’t ask these members about other ways of trading as they are not developed in these other areas.


There has been so many posts that are just pointless, and not worth participating in. Yes protect the newbies and oldies (because time doesn’t make one wiser only more stubborn), but ultimately they will do what they want regardless.

Bottom line is trading is one of the most independent businesses in the world, yet so many want to get the opinion of others, before they make their own minds up. It’s all done the wrong way round. Firstly, you should make your OWN mind up, then see what others are saying. You need to know what you know first, that is your foundation.

A scientist starts from scratch, they don’t pick up half way though another scientist experiment, why should trading be any different, after all it’s the experiment part that is fun.

Let people do what they want, some will evolve and some will fall by the waste side, that is life. I think the fact that the vendor issue bothers you (active participants of the thread) suggests that there is still some evolving to do on your behalf. We are not talking about innocent children her, but grown up adults, if they can’t see the wood through the trees now, they never will !!!


It is the responsibility of the individual as to what action he/she takes. Vendors don’t put a gun to someone’s head, we are all free to choose to participate or not, its just a trade like anything else.


Choose wisely.
 
Indeed - all books containing the word 'liberal' should be burnt and their authors banged up on trumped up charges in my opinion.
This is very bad news for the coalition government - especially the deputy PM!
:LOL:
 
I think the fact that the vendor issue bothers you (active participants of the thread) suggests that there is still some evolving to do on your behalf. We are not talking about innocent children her, but grown up adults, if they can’t see the wood through the trees now, they never will !!!

Whilst I agree with a lot of what you say - the above is nothing more than a poor attempt at misdirecting the concern of others.

i.e. - if we are concerned about con-men trawling the site, we must have an issue ourselves.

Why is your whole post about the victims? If you take this perspective, then you fall into the trap of your post - that of "be an alpha male or a beta mouse". This is nonsense.

It is because you consider only the victim. You consider yourself the great capitalist and that anyone worrying about the issue is a fluffy whiny liberal whose worried about dose poor wittle victims.

From another perspective - why can't we have a good old bash of the perps ? Screw the victims - sure - they may fall foul somewhere else. There is still no reason not to chase off the a$$holes ripping people off.

Or perhaps the alpha males on here aren't quite so alpha after all....
 
Whilst I agree with a lot of what you say - the above is nothing more than a poor attempt at misdirecting the concern of others.

i.e. - if we are concerned about con-men trawling the site, we must have an issue ourselves.

Why is your whole post about the victims? If you take this perspective, then you fall into the trap of your post - that of "be an alpha male or a beta mouse". This is nonsense.

It is because you consider only the victim. You consider yourself the great capitalist and that anyone worrying about the issue is a fluffy whiny liberal whose worried about dose poor wittle victims.

From another perspective - why can't we have a good old bash of the perps ? Screw the victims - sure - they may fall foul somewhere else. There is still no reason not to chase off the a$$holes ripping people off.

Or perhaps the alpha males on here aren't quite so alpha after all....


I’m not for one minute implying that we should let people get ripped off. The vendor side is part of the business of this website.

I’m saying let the public choose. I too detest those who prey on the “ignorant”, and that is not harsh, as we all start form a point of ignorance, it is how we move forward that decides what we achieve and how far we get in our mission.

But if everyone were to stop and think about it, there will be no con men because there wouldn’t be anyone to con.

Im afraid there is no substitute for taking responsibility for yourself, because no one else will no matter how hard you or I may try.

I look at the “victims” because they are easy to read, these are the participants in the market you and I are up against. They all share the same components, and the majority will never ever change.

If a door to door salesman comes to you and tries to sell his super duper double glazing windows, it is most likely (looking at your previous posts) you would say no thank you and shut the door, maybe even forgo the thank you part. No matter how good he tells you how good his glass is.

This is because you know what you need.

Trust me, no one will ever be grateful if you try to help or warn them away. Because its not what they want to hear.
 
How many vendors here did NOT turn out to be a scammer of some sort? Then there was the issue of the 'educator' with an FSA warning to its name who later became a T2W partner and used this position to market its courses to members.

I think we have to realise that T2W is run for profit and income comes from vendors and not members. Therefore a paying advertiser or vendor will always benefit from the 'blind eye' approach, all in the name of justice and the presumption of innocence of course.

I dont think this is particularly shocking, I know someone who works in the magazine industry, it is quite common for them to produce articles about the '10 best hotels in xxx' etc and then go out and sell their 'awards' to the highest bidders.

Even the Sunday Times newspaper (Business Opportunities Pages) advertises business opportunities that include , among the odd franchise, trading systems promising riches; but the Times gets around any liabilitity by inserting a clause stating that the Times has not verified these advertisements, thus Caveat emptor:love:
 
Even the Sunday Times newspaper (Business Opportunities Pages) advertises business opportunities that include , among the odd franchise, trading systems promising riches; but the Times gets around any liabilitity by inserting a clause stating that the Times has not verified these advertisements, thus Caveat emptor:love:

It's a pity that they don't do the same with the news,too. Not just The Times, but all of them.
 
I think this thread is getting a bit far away from what started it in the first place (the outing of xen).
I have no doubt that there are plenty of scammers etc on the forums and being totally new at this and seaching the net for strategy ideas etc i have seen dozens. I have never parted with any cash for a system and never will.

Xen might have been the infamous mr spread-betting but the system posted on that thread was no worse than the multitude of BB systems that are posted all over the trading forums. In fact for me it seems to work better although not as good as xen was claiming, but then it was his system and i am sure it did work as advertised for him.

I think a lot of the postings with such things (xens included) are more about being seen as some sort of trading guru and worshiped by newbies rather than scamming cash from them. Also if the system rules are posted clearly then providing it is being given away there is no need to be demanding live calls etc as you can simply try it on a demo account and see if it works for yourself. If on the other hand payment is requested for a system then i would want to see full account details AND live calls so you know they are actually following the system they are trying to sell you.
 
Forget the crusade, you'll never prevent mugs from meeting up with conmen, they are made for each other.

Just like a pride of lions follow a herd of wilderbeast.

Wasp, Jacko, it will happen again, a natural cycle.
 
Hi pboyles,
How many vendors here did NOT turn out to be a scammer of some sort? Then there was the issue of the 'educator' with an FSA warning to its name who later became a T2W partner and used this position to market its courses to members.
As I said in my earlier reply to DT - this very much depends on one's definition of scammer. As far as I'm aware, very few of them do anything illegal. So, by my definition, most vendors are not scammers. If members buy the products and services of a T2W member with a vendor's badge and feel they've been ripped off in some way, they can do a number of things:
A) They can post their concerns to warn others here on T2W.
B) They can report the vendor to the Mods and, if the vendor is in breach of T2W Guidelines, the Mods will take the appropriate action. (A good example of this happened just last week when they banned 'xenophobia'.)
C) In more serious cases involing allegations of fraud, they should do the above and notify the FSA and Police etc.

REAL scammers and REAL conmen who are out to extract money from gullible newbies without providing a product or service of any intrinsic value will be exposed for what they are and have a very tough time operating on this site.

I think we have to realise that T2W is run for profit and income comes from vendors and not members. Therefore a paying advertiser or vendor will always benefit from the 'blind eye' approach, all in the name of justice and the presumption of innocence of course.
There is no 'blind eye' approach! Any commercial relationship between T2W and advertisers is completely transparent. Obviously, T2W receives income from the bank and SB firm banner ad's and products such as the Online Trading Academy CDs sold in the store etc. Most of those are listed in the Reviews section of the site, so members can - and please will you all - post your reviews there. Anyone who is not listed can be added. Individual members with a vendor badge are just that and, in 99% of cases, there is no business relationship between them and T2W. So, to use the examples of TheRumpledOne and Captain Currency mentioned earlier, T2W does not receive an income from the sale of their products or services and they do not pay T2W to display the vendor badge.

I dont think this is particularly shocking, I know someone who works in the magazine industry, it is quite common for them to produce articles about the '10 best hotels in xxx' etc and then go out and sell their 'awards' to the highest bidders.
I know nothing about the magazine industry - but I can say with complete confidence that this does not happen here!
Tim.
 
Last edited:
Where do the predators and conmen go hunting? They stalk the world of mainstream TA, why? That's where all the mugs and prey are.

A mug will never know a conman untill the mug has lost the money, why?

Because the conman knows what the mug wants.

I would probably say that a good conman would make a good trader, and a mug not so good a trader.
 
Another way to look at that is if you spent £100 (Thank goodness for copy and paste. I'm from the USA.), read the book, and then you had a greater than £100 after reading the book, then it still paid off for you, personally.


Hi DT,

I suspect one of the issues here - perhaps the biggest one - is defining what constitutes a 'conman'. Many, many years ago, when I first took an interest in trading, I paid about £100 for a spiral bound photocopied book called 'Champion Trader' by Shiraz A. Lakhi. It was quite well written but, from memory, I don't think it contained anything one couldn't get for free off of the interweb today. From this one can conclude that as a newbie I was a little naive, gullible and lazy - looking for the holy grail etc. I willingly paid £100 for a book which probably has a more realistic value of £10.00 - if that. I now look back on that experience and conclude that I was an idiot - not that Mr. Lakhi is/was a conman.
 
Top