Good morning Anita V.
No: I am by NO means ‘pronouncing a death sentence’. Just because I PERSONALLY do not know of anyone who has made money out of signal service or on-line trading room DOES NOT mean that it’s not happening SOMEWHERE around the globe. Let’s face it: it’s no different from my presenting my trading systems to everyone as I’m doing on my forums the only difference being that there is no charge and you YOURSELF are responsible for taking the signals generated by the trading systems or not. I guess I could just as easily shut the forums down and ‘tweet’ the same signals generated by the trading systems (those that I take) and charge for such service. But that’s not going to teach you or anyone else anything. And if anything happens to me then what??? Or if I go on one of my ‘drinking binges’ or miss signals (as I’m quite prone to doing of late due to my having to do a lot of admin at the moment) or are ‘not in the mood’ for trading then what??? The point of my forums is to provide a new trader with a few systems that I trade, know to be profitable, and they don’t have to go and get a degree in economics before they can trade profitably. As I said: I like to think it’s my very own little ‘Turtle Experiment’ (and one of these fine days I’m going to reveal to you and the world a REAL ‘Dale Experiment’ that will ‘knock your socks off’ and HOPEFULLY even make me famous and will allow a certain group of people to turn their lives around by trading for a living and I will prove ONCE AND FOR ALL that ‘anyone can trade’ AS LONG AS THEY FOLLOW CERTAIN RULES which we have already discussed ad infinitum)!!!
As far you you being ‘turned off’ of my forums for the reasons given I can understand that. I STARTED to give you a whole PILE of detail here as to my reasoning for ONLY being interested in supporting Deltastock clients but the ‘ins and outs’, after typing a whole bunch of detail, really is irrelevant I think so I decided to give you the ‘short’ (as far as is possible ‘Dale style’ anyway) version!!! LOL!!!
After being ‘raped’ by at least two ‘bucket-shop’ brokers when I started trading five, probably more like six years ago, I found Deltastock by sheer chance (luck???). I started trading with them. Although I kept losing money: at least I was able to open and close orders and not have to contend with my broker ‘pulling moves’. About three years ago I became an Introducing Broker for them (upon my request not theirs) and, obviously, as such, would earn commission on any trades made by clients that I’d solicited on their behalf. About two years ago I offered to provide technical support for them on this site (hence my ‘Broker Representative’ title on this site) simply because I’d spent a LOT of time with the platform and even back then ‘knew it like the back of my own hand’ (and I don’t just mean from a ‘users’ point of view but ‘technically’ given that I’d been in the IT Business most all of my life before deciding to ‘take the bull by the horns’ and trade for a living which is something that I really always wanted to do and finally ‘plucked up the courage’ to close down my rather successful IT Business and ‘pump every last cent’ into this business). About a year ago (maybe a little more): I suggested that they open an office here (in South Africa) given that at the time there were no International On-line FOREX and CFD Brokers that had a local presence here). At the moment: we are in the process of registering with our Financial Services Board (see note below) and once such registration is complete I will head up the office here and be a ‘fully fledged part’ of Deltastock. So right now: that’s where things stand in case anybody has been confused as to my ‘current relationship’ with Deltastock.
So what is OBVIOUS from the above is that I OF COURSE have a FINANCIAL interest in clients opening accounts with Deltastock. There’s no question about that and I don’t believe that there ever HAS been any question about that.
BUT ALL OF THE ABOVE being made public and said: I could have approached ANY broker on the planet and asked to be an Introducing Broker for them. As a matter of fact (and the sheer ‘cheek’ of it): my very first ‘bucket-shop’ broker TO THIS DAY keeps sending me ‘offers’ to become an Introducing Broker for them (they ‘give away’ Introducing Broker ‘Status’ like candy). EVEN IF THEY PAID ME a few thousand dollars per month, commissions aside, to solicit clients for them I’d not take them up on their offer. Why??? Because it’s wouldn’t be a WEEK and I’d have ten irate clients on the phone to me (at best case) or one REAL BIG South African (we’re not ‘small people’) banging down my door to get his hands on me because I’d recommended this ‘bucket-shop’ to them. I would trust Deltastock with the lives of my CHILDREN. Unfortunately (and as I noted to somebody personally yesterday): because I’m ‘involved’ with Deltastock (be it in ANY way, shape, or form) it really doesn’t matter WHAT I say I know that whatever I say is going to be construed as marketing on their behalf and nothing else and that’s unfortunate. But think about this: if I were a salesman for Mercedes Benz or BMW (or worked for Rolls Royce or Ferrari i.e. I think you get the picture) and I told you that the car was good are you not going to believe me (or at least test drive the car) SIMPLY because I happen to be the salesman (or work for the company) and will obviously earn commission on the sale??? No matter WHO is selling those types of cars: they’re luxury vehicles with outstanding reputations. Would I go and sell some ‘el cheapo’ ‘vehicle from the East’??? Definitely not (but that’s just me of course).
And, well, I can already hear the ‘but Deltastock is a Market Maker so they will trade against you’ ‘rantings and ravings’. WRONG AGAIN!!! I don’t think that most people around here know exactly what a Market Maker IS to be honest. Put another way: there is a BIG difference between a ‘bucket-shop’ and a Market Maker. A ‘bucket-shop’ keeps ALL trades ‘in house’. In other words: 100% of trader losses are profits for the ‘bucket-shop’ and 100% of trader profits are losses for the ‘bucket-shop’. A ‘bucket-shop’ capitalizes on the UNFORTUNATE but REAL statistics that MOST traders WILL lose their accounts (purely because of human behavior and nothing else). HOWEVER: with a ‘bucket-shop’, as I’m sure is obvious, it is in their INTEREST for you to lose your money and a ‘bucket-shop’ will go out of their way to ENSURE that trader losses exceed trader profits again for obvious reasons (although, in my opinion, they really don’t need to go to the trouble unfortunately). A Market Maker on the other hand will offset a certain percentage of their risk with another larger Market Maker (and so on and so forth). True: a portion of trades are kept ‘in house’ but the bulk of trades are offset with another larger Market Maker (and so on and so forth). Obviously: with the small portion of trades that are kept ‘in house’ trader losses are profits for the Market Maker and trader profits are losses for the Market Maker but this is not a Market Makers MAIN SOURCE of income and therein lies the difference between a ‘bucket-shop’ and a Market Maker. The MAIN SOURCE of income of a Market Maker is the profit that THEY make on the spread and commissions and it is not in the interest of a Market Maker for traders to lose their accounts. As a matter of fact: it is in the interest of a Market Maker for traders to GROW their accounts because bigger accounts mean bigger trades and therefore more money is made on spreads and commissions on bigger trades. A ‘bucket-shop’ relies on soliciting new clients ALL of the time to replace the ones that have already ‘wiped out’. A Market Maker doesn’t need to do this. What a lot of people don’t seem to realize is that it’s FAR harder to solicit a NEW client than keep and existing and profitable client satisfied!!! TRUST ME!!! I speak from experience here!!! Of course (and yes I guess this IS a bit of ‘advertising’ but ‘what the hell’) with Deltastock, and if a trader is SO ‘paranoid’ that because Deltastock is a Market Maker they MAY be taking the other side of their PARTICULAR trade: you have to option of trading via the ECN/STP L2 Module in Delta Trading and via that module ENSURING that Deltastock is NOT the counter-party (because they are a Market Maker) to your trade by selecting any one of five other liquidity providers via the platform. THAT way: your liquidity provider of choice doesn’t even know YOU or about YOUR trade or ANYTHING like that. Deltastock simply makes the spread and commission on the trade. But I ASSURE you that there is NO need for such ‘paranoia’. Trust me when I say that Deltastock has far too many clients to worry about ‘lil ol you’ and your trades and if you’re trading HUGE amounts then for OBVIOUS reasons risk will be managed as detailed above.
OK: I’m not doing a very good job of the ‘short version’ am I??? LOL!!! Nevertheless: the above MAY be beneficial to those that are confused as to exactly how a reputable broker or Market Maker is SUPPOSED to work.
In addition to ALL of the above (any any ‘free advertising’ aside): I KNOW that my trading systems presented on my forums are profitable with Deltastock (whether it be because of the reliability of their charts or their reliability as a broker or the timezone that they’re in I know not but ‘it is what is is’). I have noted MORE than once that, aside from my little ‘tweaks’ and observations, those trading systems presented on my forums should work with ANY broker. Let’s face it: when Welles Wilder wrote ‘New Concepts In Technical Trading Systems’ Deltastock didn’t even EXIST (but then again neither did on-line spot FOREX trading either and THEREIN lies a BIG difference too but we’ll not ‘go down that road’ here again). I can assure you that Linda Bradford Raschke, Larry Connors, The Turtles, Kathy Lien, and Boris Schlossberg have NEVER traded with Deltastock EITHER!!! BUT: the indicator package that I have put together for those systems have been developed and ‘fine tuned’ for Delta Trading (and, as I noted, I’m busy RIGHT NOW, much to my own disgust, ensuring that the indicator package for Deltastock MetaTrader 4 provides the same signals and functionality as the indicator package for Delta Trading for reasons given previously). The bottom line is that it’s supposed to be a ‘win win’ situation i.e. you trade profitably and I ‘hold your hand’ (if necessary), at present I make commissions on your trades, Deltastock makes the spread and commissions, and everybody is happy. And all of this costs the trader NOTHING. And to be quite blunt about the whole thing: why should I go to any trouble to generate income for another broker (whether they be reputable or not). I’ve spent a good many years on these (and other forums) helping out ‘for the love of the business’ and concern for other people who go into this business ‘blind’ as I did. I’ve reached the point where I believe there’s nothing wrong in my ‘getting back’ (financially) for my trouble ESPECIALLY if my ‘getting back’ is resulting in a client making money AS WELL and my ‘getting back’ is at NOT cost to the client. Sorry: but that’s JUST BUSINESS. And that doesn’t mean that I have no interest in helping others. I continue to do so all day every day on these very forums knowing FULL WELL that most people will probably opt for another broker. But when it comes to my trading systems, my forums, and my broker, well then there’s no question about it: then I’m ‘in it for the money’.
And yes: my being ‘vocal’ about not wasting your time with under $1 000 at Deltastock DOES NOT ‘endear me’ to my ‘colleagues’ or ‘superiors’. That’s true. But REMEMBER: it’s because of the INSTRUMENTS and TIMEFRAMES that I MYSELF trade. Put another way: there’s probably DOZENS of systems on these very forums that will allow you to trade JUST fine with $100 while STILL managing risk with Deltastock’s minimum (spot FOREX) lot size of 1 000 units (EUR/USD for example). I guess to be MORE CLEAR I SHOULD be saying 'don’t waste your time and money opening and account with Deltastock with $100 if you’re going to trade MY way and you’re going to trade MY instruments). That MAY be a fairer ‘representation’. But that being said: I don’t believe that if $100 is all somebody can ‘spare’ to trade with that they should even be LOOKING at this business. With $100 in trading capital, and at ANY broker, if you’re trading ‘correctly’ i.e. with ‘correct’ risk and money management, you’ll be very lucky to even cover the cost of your connection to the Internet let alone the cost of your ‘time’ spent. And with $100 in trading capital the INEVITABLE happens i.e. one or two good trades and ‘all caution is thrown to the wind’, a HUGE position is taken in the HOPE that the $100 will ‘as if by magic’ turn to $1 000 AND THEN you’ll revert back to your original risk and money management rules, and, well, the end result is ALWAYS the same.
So THERE YOU HAVE IT Anita V (and everyone else)!!! LOL!!!
For better or for worse I have a bad (good???) habit of ‘telling it like it is’.
Regards,
Dale.
The note (referred to above):
Deltastock AD is in the process of registering with the South African Financial Services Board. DO NOT phone the FSB because they WILL, right now, tell you that they’ve never heard of us. The application and registration process is being handled by a company called ‘MoonStone Info’ in Cape Town who are the only appointed ‘intermediary’ in South Africa to pre-process applications BEFORE they are presented to the FSB (this done in an effort, I assume, to stop an endless flow of applications for registrations that stand NO chance of being approved even REACHING the FSB). All I’m saying is if anybody thinks that I’m talking ‘sh*t’ then feel free to contact MoonStone Info (or look at their website Moonstone). Trust me: THEY HAVE HEARD OF US (probably more times than they would like to have heard from me i.e. registration with our FSB is NOT a ‘walk in the park’)!!!
ANYWAY and on a LIGHTER NOTE:
Take a look at this:
Forex Brokers – Tales from the Back Office How Brokers View Clients | Currency Trading Exchange Guide
I’m pretty darn sure that this doesn’t happen at Deltastock but I can tell you: this type of scenario ‘plays itself out’ DAILY at my first broker TO THIS DAY!!! LOL!!!
Anyway and as amusing as the article may be: there’s INDEED something to be learned from it!!!
Has anyone else ever dealt with a trading room?