jungles
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I have been a member of elitetrader for a couple of years and his journal was 1 of the few that i actually followed very closely,
since despite all the bravado and theatrical elements due to his writing style his live trade calls and the consistency of his profit returns was really quite incredible tbh.
He has now left elite and is live calling all of his trades on twitter along with someone called trader dante who used to be a member on here i believe, and says that he actually metup with spanish in person.
Ive been speaking to both of them as im very interested in making money trading,
and both of those guys have been generating excellent profit consistently from their live trade calls over the last few years.
They both were extremely negative about the members on this site though, which is what intrigued me to actually signup here to see for myself.
But so why does everyone hate spanish and his trading method so much??
5years ago when he 1st started that journal of his on elite i thought that he would probably make a little bit of money but then lose everything after just a few weeks due to the appearance of his trading style.
But now that even after 5years on he is still continuing to make extremely good profits each month i dont understand why people are still so negative about his trading?
DionysusToast
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I think with Spanish, it wasn't so much his trading but...
- the underage girls
- the fraudulent benefit claims
- stealing money from people via ebay
That sort of thing got up people's noses. Mind you - the people did have the last laugh when Spanish applied to get a job in the police force and someone forwarded them details of his posts...
- the underage girls
- the fraudulent benefit claims
- stealing money from people via ebay
That sort of thing got up people's noses. Mind you - the people did have the last laugh when Spanish applied to get a job in the police force and someone forwarded them details of his posts...
Yes i saw various mentions by him of that kind of activity in his elitetrader journal.
Im not saying that in any way condone those things, however the way i personally viewed it was that i just took the rough with the smooth.
As i followed his journal to watch his trade calls since i wanted to consistently make money, and copying the entries and exits that he makes achieved that aim for me.
Fair enough i wouldn't particularly like the guy as a roomate, however im not seeking friendship from trading am purely seeking money. And so whatever he choose to do in his own personal life i just didnt concern myself with tbh as it had no bearing on my life.
And so as long as he kept providing the goods in regards to profitable trade calls i just glossed over his personal stuff.
For me he is just like 1 of those lawyers that starbucks/mafia mob bosses use,
in that he is immoral hedonistic and scandalous,
but yet you still employ him as hes the best in the business when it comes to delivering actual results!
And yes he did tell me abit about that, however it turned out that the reason he got rejected to become a special back then was because he got a bad reference from his secondary school, and so nothing to do this site forum like he had initially thought.
I personally was very surprised though that he even belived that the police would even bother to look at some text written anonymously under a username on a website forum, let alone actually take any actions on it without 1st being able to verfiy the user's ip address and stuff.
(Ive worked in public sector recruitment for 20+ years and so know that if we dismissed/discontinued someone based merely on some hersay evidence posted by an anonymous individual on a website forum the manager who took that action would get anihilated in tribunal hearings and complaints!) lol
He got into the police service now anways though, although its a force in a different part of the country to where he initially got rejected.
I know this as he posted that pic of his warrant card in his journal on elitetrader about 2years ago.
It seems like he really made alot of enemies on this site though! lol
lurkerlurker
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Didn't you guys used to have annual popularity contests? Vote for the best member? Maybe you should bring that back...some of us might like a bigger :cough: ...for when our trading results aren't enough 😆
Didn't a certain vendor use his "T2W most helpful member" badge on another website to promote his paid mentoring service? Why anyone would want to learn trading from someone who has a teaching business not a trading business is beyond me, but then I was fortunate enough to learn everything I needed to know about trading for the price of a few curries...from a chap who I met through this very site! So Sharky has his small but important part in the chain of events which changed my life.
piggybridges
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Regarding Spanish89.
The under age girls, the ebay scams he took part in etc; Probably a load of bollox.
He simply gets off on writing about things that he thinks will get people's backs up.
You can't take much of what he says seriously.
Now, onto his trading.
He does make some good calls. He's very patient with his entries. That's good.
However, if you follow him, at some point, you will probably blow your entire account.
You'll make quite good money, day after day, week after week, and then, you'll be on the wrong side of a move that 'has to snap back', as 'it's over elongated and moved too far' and it'll take everything you've made and then some. It's the nature of 'spanish stops'.
Now, I know he says that he does use emergency stops, but I've seen how they work in practice. He might take the stop. The market will then go in the direction that he had hoped for all along. Once this has happened, you can bet that stops of any kind will go out the window in the future, which puts us back in the 'guaranteed to blow up your account at some point' camp.
He blew his account up before I believe. Got all depressed talking about drinking rum all day, looking for sympathy as he'd soon be homeless.
That's bascially it. I doubt he's actually making the 2k per week he claims to be making, even with the spanish stops. Who knows. Not that it matters. It's all just 'borrowed' from the market.
I'd rather follow a trader who's record in pips for the day looks like:
-8, -4, +28, -6, -8, +30, -2
over someone who hasn't had a losing trade in 4 months!
He's fun to watch though.
I like how he's now claiming to have worked at JP Morgan as a trader in order to get followers who he can eventually charge for his calls!! 🙂
The under age girls, the ebay scams he took part in etc; Probably a load of bollox.
He simply gets off on writing about things that he thinks will get people's backs up.
You can't take much of what he says seriously.
Now, onto his trading.
He does make some good calls. He's very patient with his entries. That's good.
However, if you follow him, at some point, you will probably blow your entire account.
You'll make quite good money, day after day, week after week, and then, you'll be on the wrong side of a move that 'has to snap back', as 'it's over elongated and moved too far' and it'll take everything you've made and then some. It's the nature of 'spanish stops'.
Now, I know he says that he does use emergency stops, but I've seen how they work in practice. He might take the stop. The market will then go in the direction that he had hoped for all along. Once this has happened, you can bet that stops of any kind will go out the window in the future, which puts us back in the 'guaranteed to blow up your account at some point' camp.
He blew his account up before I believe. Got all depressed talking about drinking rum all day, looking for sympathy as he'd soon be homeless.
That's bascially it. I doubt he's actually making the 2k per week he claims to be making, even with the spanish stops. Who knows. Not that it matters. It's all just 'borrowed' from the market.
I'd rather follow a trader who's record in pips for the day looks like:
-8, -4, +28, -6, -8, +30, -2
over someone who hasn't had a losing trade in 4 months!
He's fun to watch though.
I like how he's now claiming to have worked at JP Morgan as a trader in order to get followers who he can eventually charge for his calls!! 🙂
wackypete2
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cue all the Spanish disciples...
Shakone
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Mr Marcus will drop pearls for a curry? Sounds like a good deal...
timsk
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piggybridges
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Anyone been watching his twitter?
Pretending to be a hot girl, who's been trading at JP Morgan for 6 years, lol.
I guess trying to get some followers so that he can charge them money at some point?
It's been the usual stuff where he's made some half decent calls, but he's getting crucified with a short at the moment.
Apparently pulled all his assets together (30k) so that he can afford to stay in his Dax short (short from 7940 at £60 per point!)
lol.
Sir Pond Life Dreg
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Corr blimey, I know a tw@ that tried summick like that😆 at least I... I mean he had a huge target unlike Spanish.
Latest twot from lard ass.
Entry order of 30 short-sell contracts filled @ 8126. 🙂 And so am now short £60per point from 7940!! Stoploss @ 8750. Target @ 7938.
