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Questions About Auslanco's Trades

  • #61
  • Edited 7:26pm Aug 2, 2007 6:29am | Edited 7:26pm
Quoting Spanishfly
Oh...This whole thing is pretty sad isnt it?.. We had one guy who truly wanted to help new traders... and look what happend.
"What happened to him"? The guy has been out a couple days and you're ready for a funeral. I never looked at him as someone who wanted to help newbies. You don't help newbies by teaching them how to trade GBP/JPY, you direct them over to EUR/USD for six months or so. I think he just tried to do too much too quickly. When he started catering to ignorant questions he lost it because then every guy who just learned to turn on a computer was looking for a quick way to pay off their mortgage. One guy actually asked if bullish meant to sell, and he responded to him. Oh well, time will tell.

M2B
  • #62
  • Aug 2, 2007 6:57am Aug 2, 2007 6:57am
Quoting smjones
FFmafia? LOL.. You are choosing to blame the media for allowing all points of view?? Now that is confusing.

The irony here is that FF usually gets called these names when FF prevents certain rambling view points, like if a Troll came on to a thread, FF would not let them continue. And some would accuse FF of Maffia like behavour. Here we have the opposite and again the same statement... Oh well, the irony is rich though....
Scott
Would it be a more appropriate place for his thread to be moved to Journal or Trading system section.
  • #63
  • Aug 2, 2007 6:58am Aug 2, 2007 6:58am
Well I think it is mostly a discussion thread. and it is about Forex, so I do not think I would move it.
  • #64
  • Aug 2, 2007 7:59am Aug 2, 2007 7:59am
I've been reading these boards for almost 2 years and in all that time I have never seen a thread explode like Auslanco's did. I read the thread from an entertainment point of view. It clearly demonstrates how newcomers to this business are desperatly looking for someone to give them what they want. Auslanco clearly knew what he was doing, and in my opinion, enjoyed being the centre of attention, I do not hold anything against him for that.

I must admit that at first he helped people to try and understand what he was doing and what and how his system worked.

When a commercial side to the thread appeared, all of a sudden there was talk about money for charity (Africa I think) Auto trading peoples accounts , the purchase of a retail arm of a forex company, yahoo messages and some $1.5 Million under his control making 400% per Annum(See post#1295 on page 87)

Things turned ugly when he was asked about Elite Trader,
why his strategy was being made on the fly ( stops moved, targets and Risk Return changed daily etc)

Whatever the business plan was, went belly up after four trades that all ended up in the toilet.

As a previous poster said, probably nobody got hurt, may be some lost a few $$s They were warned.

From my point of view, two things. The higher someone puts themselves on a pedestal, the greater the fall, and two, how gullible ( and desperate ) newbies are.

Auslanco was just their Pied Piper.

Roy
Polishing my crystal ball
  • #65
  • Aug 2, 2007 8:08am Aug 2, 2007 8:08am
Quoting 30XTCi
I've been reading these boards for almost 2 years and in all that time I have never seen a thread explode like Auslanco's did. I read the thread from an entertainment point of view. It clearly demonstrates how newcomers to this business are desperatly looking for someone to give them what they want. Auslanco clearly knew what he was doing, and in my opinion, enjoyed being the centre of attention, I do not hold anything against him for that.

I must admit that at first he helped people to try and understand what he was doing and what and how his system worked.

When a commercial side to the thread appeared, all of a sudden there was talk about money for charity (Africa I think) Auto trading peoples accounts , the purchase of a retail arm of a forex company, yahoo messages and some $1.5 Million under his control making 400% per Annum(See post#1295 on page 87)

Things turned ugly when he was asked about Elite Trader,
why his strategy was being made on the fly ( stops moved, targets and Risk Return changed daily etc)

Whatever the business plan was, went belly up after four trades that all ended up in the toilet.

As a previous poster said, probably nobody got hurt, may be some lost a few $$s They were warned.

From my point of view, two things. The higher someone puts themselves on a pedestal, the greater the fall, and two, how gullible ( and desperate ) newbies are.

Auslanco was just their Pied Piper.

Roy
like cult members, nobody how patently ridiculous the claims were, they continue to worship the cult leader, against all odds
  • #66
  • Aug 2, 2007 8:22am Aug 2, 2007 8:22am
Quoting yoyo
like cult members, nobody how patently ridiculous the claims were, they continue to worship the cult leader, against all odds
Now isn't that funny. I was just thinking about Koolaid Koresh.

Luckily, it seems, Aus ran out of crystals.
  • #67
  • Aug 2, 2007 8:55am Aug 2, 2007 8:55am
hi..


something that has me interested is...how actually the C2 site stuff worked..
looking at the Trades closed for GFCMfx2...where the trade shown shows more than 1 lot traded...and some used 12 lots and 8 and so on...

for example...a trade showing 12 lots traded was broken into (from memory) 5 seperate trades,,,,and not 12 lots taken at the one price (making 1 trade)

so that would be 5pip commission...I did a quick count and there was something like 40 trades taken in July each costing 1pip commission..

so maybe I am wrong...but that would be $40 for a mini account...and possibly $400 for standard account.....and you pay the commission regardless if it wins or losses.... So it would be possible you pay more in commission than you gain from the trading if things go wrong..

If you managed to get 30 people join using standard lots that would be 1200pips for July and after a while there would be no need to risk your own money as you would be using other peoples and the account holders would then take all the risks..


Is the logic right..
  • #68
  • Aug 2, 2007 9:00am Aug 2, 2007 9:00am
Hello Angler, your sidekick in this matter is back from Syberia. I am glad to see the new thread, it's dangerous over there.
  • #69
  • Aug 2, 2007 9:03am Aug 2, 2007 9:03am
hi..

yes you must always be polite....
  • #70
  • Aug 2, 2007 9:28am Aug 2, 2007 9:28am
Quoting Angler
hi..

yes you must always be polite....
Yes, I agree, even in the face of attacks. I guess I was too sarcastic. My time in Syberia has made me reflect. Therefore, I hope that Aus is recovering from the flu and that his hospital stay is not too long!
  • #71
  • Aug 5, 2007 9:00am Aug 5, 2007 9:00am
Finished reading this thread and I can't be more amazed about how much time can people waste only to discredit others.
Asulanco trade calls and all that are only made up he clearly stated to do them only on demos and with the support of your own analysis, he was sharing his trade not doing trade calls, that's different
The ones that messed up, are now back here saying that he only had one good trade and the rest were bad, but from what I remember al of the last week and the week before he posted only the best entry points, and some times people entered after, he himself did that (and he stated at that point that the entry should have been earlier) and then things went wrong.
About C2 he refunded those people, I don't think someone who's trying to pull a scam would do such a thing.
Anyway is good to see we have so skillful detectives here as Angler and WWWIN, that are on a such hot pursuit to catch anyone who has more than one post per day. FF is not only a place to learn about trading and share views but you can also watch a police movie in the same time(keep up the good work...).
And about what smjones said, that media doesn't resemble mafia and anybody can have their views, I think this thread would be a great tabloid
One think I have to admit, the best idea was to make a separate thread with this s…, and let Asulnaco thread for learning, and I thank you for that!
  • #72
  • Aug 5, 2007 9:13am Aug 5, 2007 9:13am
Quoting ovidiu
Anyway is good to see we have so skillful detectives here as Angler and WWWIN, that are on a such hot pursuit to catch anyone who has more than one post per day. FF is not only a place to learn about trading and share views but you can also watch a police movie in the same time(keep up the good work...)
Trade what you see, not what you think.
  • #73
  • Last Post: Aug 5, 2007 9:51am Aug 5, 2007 9:51am
For what it is worth?

I as a 1yr clearly rookie trader have to chime in just for the record if nothing else. I had/have my own way of trading and as many others know, it/I had some short comings in various areas. Did I take some of the trades? It would be dishonest to say that I did not so yes I did, "At My Own Risk" not because of any other reason than to "learn" and yes in the hopes of grabbing a few pips here and there. I can honestly say that I am a better trader now than before and look at much cleaner charts if nothing else. I have also been learning from other seasoned traders in that thread so to just say that everybody is just following the piper is wrong. Lets face it, we ALL make bad trades once in a while should he be held to a higher standard?
I will follow his thread as well as others so I may become a better trader and teach others someday as many of you are doing now. Every system or method has a glitch every now and then due to none of us knowing exactly what the market will do when anything important happens around the world, is he to be held to a higher standard than any other normal trader?

Lets just let him teach and others in the thread will help, right "karm" and "QUE" and others? Yes there are some really Really REALLY new traders in the thread and yes they ask some very Very rookie questions and yes some are so green that they Will blindly follow a trade call. But these new green traders follow what you may post in a trade as well but with far less information than what may be posted. You just don't see them post as they don't want to get riffed on for a rookie question.

Lets just chill out and let the people of the forum learn what they can form who they can with out all the bassing (sorry going fishing this week) I ment to say bashing. Lets face it, this is forex "Trade at your own risk" people will either learn to trade or crash and burn with or with out all the bashing going on.

okay everybody can go ahead and kill me for this post.

kevin
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