Claims without an independent audit on their filed taxes has nothing to stand on. No equity curve moves that long like in that way unless maybe they invested in a stock that took off. Not even a hit with taxes on that curve. This is dreamy to the naive, and pure B.S. to the critical thinkers.
I checked this guys tweets. I'm not sure a picture of a spreadsheet is sufficient proof of actual results. I would like to see the total portfolio with Net Liq time stamped in an actual trading account.
Anyone noticed he links to: Tim Grittani - yes.. you can buy his method! Mike Ballafiore - woohoo... you can subscribe to his mentoring/education system! Investor Underground - more awesome courses which you, yes YOU can get!!! For fucks sake... come on peeps... maybe he did make that money, but if in his tweet he links to those guys... that's clear enough for me. Oh and... he's from Sydney, Australia, but only trades US stocks... So he's up every night from 1:30 am - 8 am to trade???
And then this guy shows up, which links to Ballsiforia's website.. Do I need to say more? https://www.elitetrader.com/et/threads/smb-the-winning-trader-course.307730/
I knew it looked familiar. I commented on these very same video just a month ago. Its funny how in the first few seconds, a scam website really jumps out. https://www.elitetrader.com/et/threads/smbcapital-youtube-videos.307183/#post-4413810 What I find interesting though is that spectre2007 recommended this, and I never imagined him to be a guy to steer people wrong.
@Gotcha, I haven't seen the video's... but in general I lean towards thinking of them as scams when it looks like someone is pushing their website through soc media in a dodgy way. They might not be scams, I don't really care either... but I don't hold 'educators' in a high regard. They're mostly full of it and are only in it to make money of you. This guy on Twitter, there's definitely something odd in there... and then I go for my gut feeling, which makes me call BS...
I completely agree. If the website looks too slick, that is what really gets me. All of these website that teach just look the same. I would much prefer a home grown type of website that isn't too commercial, if I was forced to pick something that I think looks decent. In that video, its just so obvious that the speaker isn't in a real trading room, and yet, the illusion they want to give is that all those people in the background are their traders. At least this is what they imply given how they shot it. Now I did take a second to look over the J Park guy's twitter, and at the very least, he seems to catalog every trade, every day. I cannot speak to the accuracy of the proposed trades (and it would be nice to see fills on the charts he posts), but its at least nice to see an attempt to show how the wins and losses stack up. https://twitter.com/_jpark89 I find that if the guys here at ET did a bit more of this, it would be a huge step forward. I mean the answer to trading is really in the stats of your trades. It doesn't matter what one loss or win looks like, but when you see how they stack up, trade after trade, then its obvious what is going on. So seeing this on his twitter at least gives you something to work with from an analysis point of view.
But why didn't he post anything from before, when he screwed up his two previous accounts? So he started posting when he got it right??? That's dodgy as well. You just start a few twitter accounts and post different strategy trades, then you disappear with the losing ones and hype up the one that gains... tadaa... marketing for crappy websites... As I said earlier, he's got Sydney as home.... but he trades only US stocks. Now, those could be algo's... but still, why not in your own timezone... I can tell you from personal experience, 1am-8am trading is shit.... and I'm a night person.
Also, concerning those 'educators' selling their shit... A truly great trader will either keep doing what he's doing for himself, realizing he can do whatever he wants without having to keep other people happy (except maybe the wife). Or knows he can trade the same strategies with very large size, and set-up a hedgefund. None will go through the effort of putting up videos and doing daily intensive chatrooms. So you are right, if the website looks too fancy I would bet as well it's more about the selling of material and not born from a great trader. If it's a crappy website, probably better since he would lean on word-to-mouth and maybe doing it for the fun of it...