Not much action on T2W

[Lightning McQueen]

yep, bring back the swan

 

[Ross Spur]

I liked swan. Not sure if he was any good at trading ( how can you ever be threw teh netz?!) but he was a good laugh.

He was fookin fantastic, I'm sure, just usin a fookin EMA on a fookin 4 fookin hour chart. Maybe he'll reemerge as the official voice of CMC?

 

[the hare]

In T2W's defence, it's never (as far as I'm aware) had a scandal on the scale of the forex factory Jacko thing. From what people were saying, some guys got taken for tens of thousands.

The biggest scam over there was probably Beau Diamond. He eventually ended up in the slammer after taking 35M in a ponzi scheme (which is chicken feed in comparison to many)



T2W may not have had a scandal on such a scale although I'd argue that the wasp fiasco was far more scandalous as it was run by individuals who where acting as T2W advisors. I think that most reasonable people would agree that the advisor tag added legitimacy to the con. T2W's selective moderation and deletion of key documents warning pople of the problem was certainly scandalous.

But thats beside the point, and only my opinion, and I know the boys at T2W see it differently.

The key point however is that its probably only due to good luck that a similar sized con hasnt been pulled here. Exactly the same environment exists here. Absolutely anyone can make the most unfounded and ridiculous claims, and there's no attempt by the sites moderators to inject any sort of common sense rebutal. I can claim to make 2000 pips a month, trading 1000 lots, and in only 5 minutes a day, I can post retrospective calls, I can pull every trick in the book, and noone would do a dammed thing to stop me.

Anyone can use multinics to market threads. I grant you, obvious violations of multiniks on the same IP will be dealt with, but vendors really are not that unsophisticted. Take Mr Spreadbetting as an example, the mods where aware of those multinicks, but he was allowed back time after time, despite making T2W a public laughing sock. It was lulz, and you could argue that he was only charging chump change, but its the principle really. I can remember a time just out of uni where that sort of chump change was a weeks wages.

The biggest problem of course is that those running the scam can have critical posts removed. Weve seen it time and time again. Jacko did the same at FF, and FF removed perfectly reasonable posts, just as T2W removes reasonable posts warning its members of problems.

Given that environment, its a miracle that a bigger con hasnt occurred. There's no doubt that T2W is indemnified legally, but surely, things could be improved

 

[Lightning McQueen]

oh way out of context hare and you know it!

the pool was organised outside of t2w. the organising founders were in the main t2w members agreed, but they were also members of other forums/chat sites.

there were no threads on the pool prior to its blowup. ie no hooks into riches like other forum scams.

wasp had his own forum site! anyone foolish enough to follow him there and maybe join the pool thereafter have only themselves to blame.

oh and i forgot, key documents were edited on the request of wasp himself, due to personal details being published on the boards. anyone personally involved in the pool implosion would have known them ok, there was no need whatsoever for anyone else to know these details.

 

[kalott]

http://www.avafx.com/Ava-Giveaway/

Perhaps it has become harder to make money in the market despite lower spreads?

 

[Lightning McQueen]

we'll that was out the blue and in context kalott

 

[the hare]

oh way out of context hare and you know it!

the pool was organised outside of t2w. the organising founders were in the main t2w members agreed, but they were also members of other forums/chat sites.

there were no threads on the pool prior to its blowup. ie no hooks into riches like other forum scams.

wasp had his own forum site! anyone foolish enough to follow him there and maybe join the pool thereafter have only themselves to blame.

You are of course right, IIRC the idea for the pool was first raised on a chat site that a bunch of t2w members used to frequent. The initial proposal went along the lines of everyone threw in a few hundred bucks, and the funds would be collectively managed, and basically anyone could make trade calls. If a particular trader was hot, more of their calls would be followed, and more capital allocated etc. I remember thining at the time a) no trader was going to bother with such nonsense for a few hundred buck's and b) no trader is going to give capital to someone else to trade (unless they are not profitable of course). Watching the whole thing develop was rather instructional.

There is no reason perhaps why the management of t2w should have been aware of what was going on, and they certainly share no liability.

The problems arose after Mr Arabian aired his complaints. It is an undisputable fact that the 2 key initial players in Wasp's scheme where t2w advisors. I am led to believe that one was simply an innocent victim, in the wrong place at the wrong time.

I simply cannot accept that the fact that these two individuals where official t2w advisors, did not influence the action taken by t2w. Its even more problematic in chris's case given the previous reinstatement after the ban for the kiddie porn episode.

I witnessed the way in which information regarding this issue was moderated (and you as a mod at the time even prossibly took a part in attepting to contain the flow of information). I have rarely seen a thread so heavily moderated, there was practically 24/7 censorship.

At the time that t2w was censoring information about this potential problem, chris was stepping up a gear, and looking for larger invetments from passive investors rather than chump change from his trading buddies at t2w.

I appreciate the difficulties everyone faced at that time, but censoring the problem at a time when invetors where handing over money, in a scheme that t2w had good cause to question does not seam to be a particularly ethical stance.

Chris for example claims to have had a number of telephone calls lasting for several hours with Mr Sharky (I have no idea if this is true), but if it is, I think its a reasonable assumption that in those calls he attempted to put Pauls mind at rest that a problem did not exist, and the accussations where merely mischief on behalf of Mr Arabian. That assumption is supported by comments made by Chris at other forums, and in PM's. Regardless of if those calls took place, its beyond doubt that information was posted, and then deleted.

Clearly, none of us can ever determine if allowing that information to remain in the public domain would have prevented investors from losing money, but its an absolute certainty that by removing it, t2w (or its mods who may have been acting independantly) was not acting in the interests of its membership.

But this isnt a one off event. Its practically a daily occurrence. Its not just t2w, it happens everywhere (as we've seen with the latest MT4 admin / plugin fiasco)

This is going to continue to happen, until such time someone puts a stop to it.

 

[the hare]

oh and i forgot, key documents were edited on the request of wasp himself, due to personal details being published on the boards. anyone personally involved in the pool implosion would have known them ok, there was no need whatsoever for anyone else to know these details.

Jesus christ, hung by your own petard !

The documents where not edited, confidential data was not just redacted, the documents where DELETED and removed completely.

Many members who where involved where watching closely and downloaded those documents before you got to them anyway, so it was a case of closing the stable door after the horse had bolted.

And to put the cherry on the cake, you openly admit that T2W removed those documents because the guy who was actually running the scam asked you too. That is priceless.

 

[Lightning McQueen]

oh do be quiet, any documents were moderated solely to protect personal information, the main docs were allowed, less personal details, not much was removed. to be fair there was no need to post any of it, it was all posted for lulz anyway. anyone in the pool was getting the info by email mailed between themselves, there was no need to post it publicly.

it was all conducted off t2w fact! and as a moderator at the time as far as i was concerned there was no need to bring it to t2w once it imploded. but i guess at the point of pool implosion wasps forum imploded too. hence their need to vent some where i guess. from my point of view they should have all sodded off somewhere else to vent, the clowns!

 

[Hoggums]

T2W should ban everyone who hasn't been banned and unban everyone else then let the entertainment begin.....

 

[Lightning McQueen]

oh do be quiet, any documents were moderated solely to protect personal information, the main docs were allowed, less personal details, not much was removed. to be fair there was no need to post any of it, it was all posted for lulz anyway. anyone in the pool was getting the info by email mailed between themselves, there was no need to post it publicly.

it was all conducted off t2w fact! and as a moderator at the time as far as i was concerned there was no need to bring it to t2w once it imploded. but i guess at the point of pool implosion wasps forum imploded too. hence their need to vent some where i guess. from my point of view they should have all sodded off somewhere else to vent, the clowns!

in fact i'll go so far as saying that if i had my time again then none of those clowns wouldn't have got a foot back in the door of t2w, coming back here bemoaning their misfortune after turning their backs on t2w for wasps forum, i should have stamped on it 1st post, kept them off and be done with, wasp shouldn't have been allowed back on, a mistake and a low point in my modding spell at t2w, well one of many anyway prob why i don't do it anymore if the truth known.

 

[Lightning McQueen]

T2W should ban everyone who hasn't been banned and unban everyone else then let the entertainment begin.....

amen to that

 

[scose-no-doubt]

What was the biggest loss in the wasp fiasco LM? Give us teh numbers!

 

[Lightning McQueen]

What was the biggest loss in the wasp fiasco LM? Give us teh numbers!

i have 10 to 20k in my head? i really have no idea, hang on i'll ask someone who may know

 

[new_trader]

The biggest loss has been the credibility of the internet. Until this Wasp episode I trusted everything I read on the internet...but now...I don’t know...I just don’t know

 

[scose-no-doubt]

I used to think you were a big shot, NT. You have the tape avatar and everything.

 

[Lightning McQueen]

that was tip of iceburg apparently

clowns!

 

[counter_violent]

Are these so called highly intelligent, correct thinking traders.

by calling it ..."shares in the total pool"
he didnt have to do any work to attract money
pool members were busy falling over themselves
to own the lions share

 

[dazzer_fx]

What has happened to the T2W forums these days, not much action really, why have members stopped contributing? Have they gone elsewhere or what is happening?

____________
"Take control with Risk & Money Management"
Planning, Risk & Money Management

What do you expect? Newbies get smashed, Vendors get bashed and most
of the Legendary's think they own the place. It'll end up being their own private
Forum (no newbies aloud!!)

 

[Ross Spur]

What do you expect? Newbies get smashed, Vendors get bashed and most
of the Legendary's think they own the place. It'll end up being their own private
Forum (no newbies aloud!!)

I hope the Senior Circle of the Legendary Member's Inner Lodge gave you permission to post here?