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    day trading
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    quote:
    Originally posted by DayWalker

    Let's say for arguments sake, I was considering Linda Raschke who charges $500/month for her premium service. She doesn't provide trading statements.

    In your experience and professional opinion is she reputable and trustworthy enough that I could overlook a requirement that you believe is mandatory?


    Well that depends on what you're buying. Does she state what you should expect to be earning as a return based on the premium service? i.e. Is the premium service a system that you can trade? If so, then yes, you need statements supporting the returns that she claims to make.

    If the premium service is not a system with specific claims then you don't need statements because you are buying education from or an "audience with" a famous trader. i.e. You are not expecting to walk away with a profitable system.

    What do you get in the premium service?
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    DayWalker
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    Its called LBR FUTURES LIVE

    http://www.lbrgroup.com/index.asp?page=Services

    http://www.lbrgroup.com/index.asp?page=Philosophy%20-%20FUTURES

    Does a prospective member need statements based on this information?

    DA
    day trading
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    I skim read through the links and it doesn't look like she is teaching you a trading system and makes no claim to her or your profitability. From what I read she doesn't even claim that she is trading profitably herself so there is (1) no system and (2) no claim of profitability.

    So based on that you are buying an education just like you would get from a tutor at a school. A bit like those prizes that give you lunch with Warren Buffet.

    If she is selling you a system that she claims is making her money then yes, you need statements to verify it.
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    DayWalker
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    She has excellent lawyers making sure she doesn't get into trouble.
    DA
    day trading
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    How do you know about her lawyers?
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    DayWalker
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    quote:
    Originally posted by day trading

    I skim read through the links and it doesn't look like she is teaching you a trading system and makes no claim to her or your profitability. From what I read she doesn't even claim that she is trading profitably herself so there is (1) no system and (2) no claim of profitability.

    So based on that you are buying an education just like you would get from a tutor at a school. A bit like those prizes that give you lunch with Warren Buffet.

    If she is selling you a system that she claims is making her money then yes, you need statements to verify it.

    Do you need both a system being taught AND claims of profitabiltity for the statement hurdle or are they mutually exclusive. Obviously claims of profitability require proof (otherwise why make claims); but teaching a system is a grey area and loaded with ambiguity. Personally, I could accept the former without statements but not the latter.
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    DayWalker
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    quote:
    Originally posted by day trading

    How do you know about her lawyers?

    It's obvious to me by the Website she has sharp counsel to keep her out of trouble from the very things we've been discussing. Her motto might be "No claim, no pain."
    DA
    day trading
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    So your claim that she "has excellent lawyers" is empty? i.e. you know nothing about her lawyers?
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    DayWalker
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    quote:
    Originally posted by day trading

    So your claim that she "has excellent lawyers" is empty? i.e. you know nothing about her lawyers?

    I was making an assumption not a claim.