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This guy smokes me!!

Take a look at the excellent...no I am wrong...superfluous is a better word...blog posting about an image that was stolen and then used on the Day-Traders.com web site by this ASS WIPE...(the blogger's words not mine). Don't you just love it? Now I want to know what sort of run in Steve Matrix had with the CFTC:

quote:
...it seems Mr. Matrox had a run in with the CFTC, is that why he is now selling his BSski system using the un-regulated FOREX...

Here is the superfluous blog:
http://tradersparadise.blogspot.com/2005/10/steve-matroxanother-one-of-guru.html

That blog is a great read. Thanks George. What is your interest/concern here? That he's moved into your area of expertise? i.e. forex?

I just did a Google search using Steve Matrix CFTC and the first hit came up with this (I have picked out the juicy bits):

quote:
U.S. COMMODITY FUTURES TRADING COMMISSION FINDS LAS VEGAS MAN USED WEBSITE TO MISLEAD PUBLIC ABOUT PROFITABILITY OF HIS COMMODITY TRADING SYSTEM

Steven Matrix Settles Charges He Made False Claims About His CounterPoint Method Trading System

...The CFTC order finds that Matrix fraudulently solicited clients to purchase a commodity futures trading system called the CounterPoint Method.

...finds that, between June 2002 and July 2003, Matrix fraudulently solicited clients through his website to purchase the CounterPoint Method, a trading system manual with chart updates and e-mail support....made false claims to clients and prospective clients that he had actually earned profits while trading commodity futures...

The order requires Matrix to pay a $15,000 civil penalty; cease and desist from further violations...

Full CFTC article:
http://www.cftc.gov/opa/enf03/opa4849-03.htm

Anybody reading this ever buy his system?

I happen to know Mr. Matrix, and he is for real. As for the picture of his desk...honestly, who cares...he knows what he is talking about, that pic could be a marketing ploy, no one is going to go into his home to see it, but it could be a way to sell yourself, when it comes down to it, if he was not good at what he did, he would not be in it as long as he has, and for the other info on him, everyone makes mistakes, let it go

quote:
Originally posted by realasitgets

...if he was not good at what he did, he would not be in it as long as he has...

That's not necessarily true. Someone could sell a system that doesn't work and get new subscribers for a few months and just rely on a rotating subscriber base as they drop out. In order to ascertain if he is good you would have to look at his subscriber base and see what the average length of subscription is. If people are making money with him then the average will obviously be high. This is a moot point because he would not reveal that sort of information.

If he is good then how does he prove this to the public?

quote:
...and for the other info on him, everyone makes mistakes, let it go...

I'm not holding him to it but I would want to know that sort of thing about him before I became a subscriber. I think that this is true of 99.9% of all people. Do you not want to know that sort of background about people that you are going into business with or buying products from?

In my opinion, he would do himself a favor if he outlined what happened on his web site and explained that it was a mistake that he made in the past and that it was behind him and this is how he made amends for it and why people do not need to be concerned about it anymore. By openly discussing it and answering questions about it he will gain the confidence of his subscribers.