Mr Spread Betting is back, be careful everyone

jgaret said:
I know who you are, I know the person and he isn't on the order flow forum, I won't expose you though.

We're not all idiots btw (at least I hope I'm not one).

The thing is he does put forward some very interesting trade concepts/ideas that do seem to pan out in the main part (so far). Add to that the amount of time he spends helping people is it any wonder everyone is hot for it? Yes a good ROI if it is a scam but where else will the members go for a mentor that is so accessible.

I must admit to my heart progressively sinking when the BP forum thread started linking to the twitter (one step removal), then more when the twitter started linking to the forum (isolation from forum 'protection'), then (not entirely unexpectedly) live room with joining fee got announced.

Not so much for the fee but for the potential wasted time which is imo much more valuable.

But then there is a dearth of verified mentors/tutors. Name one that is openly held accountable as winning via myfxbook or anything similar?

In other industries people don't just say they can do it, they prove it. Forex seems to be the self certifying exception to the rule. Maybe those truly successful are too busy enjoying life with their riches. Maybe the profitable trader is a myth. I'm starting to wonder.

It's little wonder people fall for the scams so much.
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Hi jgaret

According to information I read - less than 5% of forex traders can make money on a continual basis day in and day out and maintain it for months and years.

I am fortunate to be one of these traders. I have been retail forex trading for over 10 yrs with 6 yrs full time - and its only been in the last 3 years that I have become very consistent and can generally exceed my 50 pips target most days - and even on really bad days when I might have 4+ bad trades - I still end up profitable - but just have to work a longer session and take then probably 15+ intraday trades.

To achieve my consistency - I have easily now done over 10k hours of live small frame chart watching and calculated I have executed now over 12k live trades with well over 7000 being scalp trades. (includes thousands and thousands of losses as well ;-(

So to answer your question - it can be done - but takes a lot of time, loads of dedication and commitment - the ability to be focused and control your emotions and of course enough money to live on - until you get there. And when you get there unless you understand advanced MM - you will not stay there ;-)

If it is only 5% or less who reach these levels ( probably 20-30% can trade and make money but are just not consistent enough and having losing months etc) then you can totally understand all the scam artists and fraudsters in this game and they just fail to inform all their followers that if they were in the "5% special traders" brigade - they would not be spending so much time on twitter and websites marketing all what they do - and that their main income - ie 70% + would be coming from trading.

I personally don't sell courses. books, tutorials or anything connected with forex trading - but will admit I am not able to make multi millions every year from my own account simply because I hit my own personal psychological money wall at trading approx 22 lots per pip. I could not hack it above that level and feel more comfortable with less than £100 per pip.- especially with my own money.

I have improved since then but being in my late 50's have not intention of putting myself through it again - and so stay with my own stake levels - that certainly can provide a very comfortable living.

To become a lawyer - or a surgeon or other highly rewarded professional - it takes 5 -7 yrs before you start seeing the real rewards.

Why would any new trader not realise it will take the same time or even longer to achieve it in retail Forex trading ?

Regards

Forexmospherian
 
Forexmospherian said:
Hi jgaret

According to information I read - less than 5% of forex traders can make money on a continual basis day in and day out and maintain it for months and years.

I am fortunate to be one of these traders. I have been retail forex trading for over 10 yrs with 6 yrs full time - and its only been in the last 3 years that I have become very consistent and can generally exceed my 50 pips target most days - and even on really bad days when I might have 4+ bad trades - I still end up profitable - but just have to work a longer session and take then probably 15+ intraday trades.

To achieve my consistency - I have easily now done over 10k hours of live small frame chart watching and calculated I have executed now over 12k live trades with well over 7000 being scalp trades. (includes thousands and thousands of losses as well ;-(

So to answer your question - it can be done - but takes a lot of time, loads of dedication and commitment - the ability to be focused and control your emotions and of course enough money to live on - until you get there. And when you get there unless you understand advanced MM - you will not stay there ;-)

If it is only 5% or less who reach these levels ( probably 20-30% can trade and make money but are just not consistent enough and having losing months etc) then you can totally understand all the scam artists and fraudsters in this game and they just fail to inform all their followers that if they were in the "5% special traders" brigade - they would not be spending so much time on twitter and websites marketing all what they do - and that their main income - ie 70% + would be coming from trading.

I personally don't sell courses. books, tutorials or anything connected with forex trading - but will admit I am not able to make multi millions every year from my own account simply because I hit my own personal psychological money wall at trading approx 22 lots per pip. I could not hack it above that level and feel more comfortable with less than £100 per pip.- especially with my own money.

I have improved since then but being in my late 50's have not intention of putting myself through it again - and so stay with my own stake levels - that certainly can provide a very comfortable living.

To become a lawyer - or a surgeon or other highly rewarded professional - it takes 5 -7 yrs before you start seeing the real rewards.

Why would any new trader not realise it will take the same time or even longer to achieve it in retail Forex trading ?

Regards

Forexmospherian
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Hey Forexmospherian, hahaha been a while since I posted that.

Still not there but still trying, thanks for taking the time to respond.

You sound like you have an interesting trading style, have you/do you intend to start a thread about it? I for one would be interested in hearing more.
 

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mr.pedro said:
Is defo scottish.
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I see the Twitter account has now been deleted along with the blog. Incredible that so many people fell for it so soon after Miss DT when it was almost exactly the same MO.

Shortly before he disappeared, I saw him boasting about another successful scam and how it had net him almost £20k.

I am sure he will be back before to long.
 
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kingsparkle said:
Shortly before he disappeared, I saw him boasting about another successful scam and how it had net him almost £20k.

I am sure he will be back before to long.
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what was his scam this time? 20k from what exactly? chatroom?

I remember him braggin on t2w once about all of the idiots who were buying his useless trading books and making him rich, and he used to upload pics from his amazon sellers account showing how he was thousands and thousands per month, lol
 
scholfield said:
what was his scam this time? 20k from what exactly? chatroom?

I remember him braggin on t2w once about all of the idiots who were buying his useless trading books and making him rich, and he used to upload pics from his amazon sellers account showing how he was thousands and thousands per month, lol
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I think it was some kind of live trading room. I know he spent some time on Twitter cultivating a following by talking a good game while assuring everyone that as an excellent trader he had nothing to sell. He even openly attacked at least three vendors that run trading rooms calling them scammers. lol

After a while he set up a blog with his free daily analysis and then launched some service for £228 per month. Pretty much exactly the same route he went down when he was Miss DT but back then the room was only £89!

And yes, before he vanished he uploaded a picture from his PayPal account showing multiple recurring payments. £19,700 was the exact amount he claimed to have made.

He's a nasty piece of work that's for sure.
 
just read the thread. If its not he/she is another scam artist cannot believe how naive people are on that thread i was waiting for the sell and then bingo there it was. At least they get called out pretty quick on here although there are a few who refuse to believe they are being taken for a ride.
 
If its not mr SB then someone is doing a v gd impression of him - ex barclays / trend follower / asks for cash after 20 trades / rude, aggressive and defensive / always has similar anecdotes as to why he misses a trade eg out celebrating indian new year (most traders don't make excuses up full stop - but its more the similar 'white lie' content which sounds the alarm).

A million pound on this ending the same way, and a million pound on some ppl having already wired him money.

Ff forum is a comp joke.
 
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...when I saw the title of this MEGA long thread I thought it would be about the MASTER of hot air... full of bullsh*t Mr Spread Betting dipsh*t MR VS himself!:LOL:
 
tagpole said:
...when I saw the title of this MEGA long thread I thought it would be about the MASTER of hot air... full of bullsh*t Mr Spread Betting dipsh*t MR VS himself!:LOL:
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Who is mr VS?

If you read the thread you wld know it is about mr SB, always gd to read the thread you are commenting on.
 
This tool is back as @thebigsexycool and @tradingthedax on Twitter.

He got caught out pretending to make lots of money, but he didn't realise it was possible to tell he was using a demo account from the reference numbers he was posting up on the IG accounts. Since this was pointed out to him yesterday he's protected his accounts.
 

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He's now deleted all his pictures and changed his name to @dailydax30 due to this discovery. What a scammer.
 
He's now deleted all the screenshots of his demo account and has changed his account name.
 

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Anyone else think that there is something up with the @300trading guys? Similar boastful posts, ticket numbers cropped out of results. Constant posts reminding us that they are making money... Waiting for suckers to offer payment for pro-training perhaps?
 
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