This fraud, contrary to the statements here by Brandon, who himself runs a site, that there are only a few bad apples and really, truly, most sites operate only making calls like he does, traders only taking 3-4 plays daily, is absolutely rampant and the standard in day trading.
I would like to clarify this comment from my post because I can see were it could be misread. In this post: Message 16017121 I stated the following: I suspect that our manner of operation is similar to what most people have.
I do not want to imply that traders taking 3 to 4 trades a day in a chatroom the norm. I was simply referring to the fact that we refer clients to a certain broker and that broker will refer clients to us. In fact, most chatrooms are pretty busy places and they alert more than we do. If they are producing profits for there members using a more active style, that is great and they should be commended for it. If, however they are making a high number of trades in order to meet a quota or to simply gain commission income from the broker that is another matter. At the very least it should be disclosed so that members know this when taking a trade and can take it into consideration. I would also go far as to say that in my personal opinion, what they are doing is wrong if this agreement exists. It is not in their clients best interest, and any business person knows that in the end, what is in your clients best interest is also in your own. (This of course depends upon whom your client really is I guess, but for the sake of this discussion I am assuming traders are the clients).
To the best of my knowledge MBTrading, Mavericktrading etc do not pay, and have not paid, chatrooms or chatroom moderators for order flow. If this is not the case, I am mistaken and if it’s proven that they do or have, I would stop making this comment.
Brandon |
