A Big Mike’s Trading forum update

Two things that we have noticed recently.

1. Mr. Harald Steinhaus aka Fat Tails, the sleaziest slime bag we have ever had a dubious pleasure to encounter, if only in his digital body, has come out! No kidding at all!. He is now officially a vendor on the Big Mike Trading forum. He kept this fact hidden from the public for at least two years while ruthlessly smearing his competitors, usually American ones, with what could quite appropriately be described as a positively deranged zeal.

His trading experience now reads “advanced” and it is only on Big Mike’s Trading forum that you can become an experienced trader by peddling knock-offs of your competitor’s work or slinging mud at them. The “advanced” we are truly talking about is not his trading experience, which is non-existent, but his self-delusion.


The fact that Mr. Steinhaus is no longer hiding his vendor status there does not change our opinion about him. We believe that he is a creepy loser with a Superman complex, not  necessarily uncommon among his German kind, a fact well-known from history books. He is a liability to any respectable online community save for the pathological ones where he truly stands a chance to rise.

2. More and more people and websites come to realize how incredibly pathological the Big Mike Trading forum is. Not that we are mightily surprised. We expected it to happen just as we expect this to continue. We expect more and more people to come out with the stories of abuse that is quite common on that forum. We primarily mean the abuse of elementary freedom of expression, but that’s pretty much just for starters.

We are not finished yet with our critique and condemnation of the objectionable business practices of the Big Mike Trading forum. You will most likely hear about this forum here again. And again.

We have dedicated a special article to this forum and the slimy persona of Mr. Harald Steinhaus on our blog in the not so distant past.


We are on Twitter

We have moved for good to this new location on wordpress.com with what we consider our best past work and we have even set up a Twitter account. That’s how you can communicate with us.

Feel free to join us and share your stories of trading BS and of that favorite of forum of ours. You should know which one.

Our Twitter home page is here: https://twitter.com/TradingLoonies.

The Trading Loonies 2012 Awards

The No-Genius MacArthur Award

goes to Mr. Todd Mitchell

for insinuating to be a trading genius before even mastering trading on the simulator (heck, even before mastering the use of buy and sell buttons on the simulator).

The Mr. Goebbels Outstanding Smear Artist Award

goes to Mr. Harald Steinhaus of Berlin, Germany

for taking the deceptive, Goebbelsian-style rhetoric to new heights not seen since 1945 and setting new standards for the smear artists in the trading industry that will most likely remain unsurpassed for many years to come.

The Miss South Carolina Southern Excellence Award

goes to Big Mike of Dallas, Texas

for cultivating bigotry, hatred and intolerance (towards not only vendors but also people of dissenting views) on his trading forum, the qualities that, curiously enough, the South still derives so much pride from.

The Bernie Madoff Lifetime Achievement Award

goes to Big Mike of Dallas, Texas

for fooling a record number of people (over 30 thousand as of December 2012) that a cowardly operator with delusions of grandeur who blew two day trading accounts can be a trading authority.

The Rick “Let’s pray for the fucking rain” Perry Collective Award

goes to all the psychobabble gurus.

Your methods, fellows, are as effective as Governor Perry’s. Incidentally, Governor, why not just hire a shaman?

Originally posted on the web on December 30th, 2012.

A trading genius is born

Not a trading genius yet? Not to worry. Any public relations hack can make you one. That’s how Mr. Todd Mitchell has became one. See this release? It claims that Mr. Mitchell is a trading genius. We would have not made this shit up. See also the image below with the relevant part of the release.


His EminiSuccessFormulaReview.com site is supposed to demonstrate it. According to his own press release, that is, as it were enough to convince anyone.

That’s not the first time that Mr Mitchell insinuates his trading prowess yet totally failing to substantiate it. In one of his Google ads he used to refer to himself as “trading veteran.” And how on Earth one can become one without ever trading? Beats us, but since none of us is a genius, let alone a trading genius we might be missing something. Though we seriously doubt it.

While we believe that Mr. Mitchell has some trading ideas of his own that may or may not make you money, he certainly has yet to provide evidence that he is a trader, let alone an active one. Heck, he has yet to show that he can trade consistently. Even on that thing called the simulator. The trader, to help Mr. Mitchell’s clients understand what we are talking about, is someone who trades with his own money. Or with his clients money as sometimes is the case.

We believe that Mr. Todd Mitchell is neither a trading veteran nor a trading genius. But he does strike us as a silly man with delusions that seem to insist on growing.

Originally posted on the web on November 30th, 2012.

Conmen, scammers, and rip-off artists or how to find a vendor you can trust

No doubt, there are good, trustworthy vendors out there. But don’t get your hopes too high because finding them is not so easy. In fact, it’s very hard. That’s because only about 5% of the entire Universe of vendors belong to this category. The remainder, and a huge one at that, is not what you are probably after.

The remainder consists of con men, scammers, and rip-off artists, and these categories, unfortunately, overlap quite often, which means that you can get conned, and then ripped off. Being just ripped off may actually not be such a bad deal, overall, assuming you still got some value in what you paid for.

We believe, though, that these categories should be treated separately, because not every rip-off artist is a con man or a scammer. A conman very often (practically always) is a scammer, but does not have to be a rip-off artist. Yes, that’s sort of complicated, but we hope to clear this up in future so that you know how to recognize these people and use the right vocabulary when disclosing them and their business practices online.  It is better to do this responsibly because claiming that someone scammed you, while they might have only ripped you off, may carry legal consequences and you may end up paying even more.

We will return to this in one of our future articles.

Originally posted on the web on March 6th, 2011.

Sleazy operator, underhanded vendor, and hypocrite

From Germany but with no love

Perhaps, rather predictably. Germany is no Russia, after all.

Mr. Harald Steinhaus lives in Berlin, Germany, the city that was made quite popular by Mr. Adolf Hitler, the not so famous painter, and other, largely German, sociopathic assholes, known as Nazis. Mr. Hitler’s best known pieces of work bear somewhat cryptic names: “WWII” and “Holocaust,” but they are still much better known than his art works.

Mr. Harald Steinhaus is a vendor or rather a crypto-vendor, that is, a vendor who hides that he is a vendor. Why would you hide something like that? Well, normally you would not. But then again, normally you would not elect Hitler to be your Chancellor, either. There are some advantages to doing so, even if pretty questionable, like being able to denigrate your competition while pretending that you have absolutely no agenda in doing so, which is exactly why we decided to expose Mr. Steinhaus here. Because that’s what he does and because this casts serious doubts on his integrity and credibility as a vendor.

Mr. Harald Steinhaus likes to hang out on Big Mike’s trading forum, also known as a forum for traders with learning disabilities, where he is known as Fat Tails. This nickname is meant to insinuate that Mr. Steinhaus knows something about statistics. Recently, Fat Tails has even become a golden boy of the forum (the favorite poster of 2010), which tells you how serious learning disabilities most members of the forum have yet to overcome.

However, it is not that difficult to discover from his posts that Fat Tails’ knowledge of statistics, or pretty much anything else for that matter, is only skin deep. Still, since most Big Mike’s forum users cannot handle the word “statistics” or “math” without a debilitating headache, it was not too hard for Mr. Steinhaus to develop a guru status on the forum. After all, as is well known, “among the blind the one-eyed man is king.”

Knock-off peddler

But he sure does know how to cut and paste, which is a very useful skill if you want to plagiarize the work of others. These days, plagiarizing seems to be a favorite pastime in Germany that can even get you a Ph.D. degree. At least for a while, but why not give it a try …

Judging by Mr. Harald Steinhaus’ work he too one day may become a very popular German politican: he already pretty much plagiarized the work of another vendor that he sells on the Big Mike forum, hiding his vendor status, which may even be  in violation of the forum rules. However, to his credit, he admits that he plagiarized this work (not calling it that way, though), which makes him a rather lousy plagiarizer with no pride in his work (and we hate people like that), so let us just say instead that he is a highly unoriginal hack and a parasite that takes advantage of the work of others.

Smear artist at work

Mr. Steinhaus is also a sleazy, underhanded operator with a sick penchant for denigrating his competition on the Big Mike forum by sometimes even blatantly fabricating things about other vendors or making innuendos that are meant to discredit their work or their business. This would be very sleazy and ethically questionable even if he were not a vendor, but it is utterly questionable because he is and acts underhandedly without disclosing his vendor status.

Here is a good example of how he operates taken from the Big Mike trading forum. That’s just one example, but in this case he disparages the work of two vendors at once having absolutely no experience with either of them and knowing precious little about what they offer. Doing homework is not the way he arrives at “the truth.” Fabricating it is more to his liking.

Notice that Fat Tails says of phdtraders.com that “very likely that it is just part of a multilevel marketing organization.” Now, there is absolutely no evidence whatsoever that this is a multi-level marketing organization. In fact, vendor businesses are very rarely structured like that, and while zafitraders.com can be a sister company of phdtraders.com or its affiliate, that does not make a whole thing a multi-level marketing organization. This is a total fabrication, or plainly a lie. It is just like saying that very likely they are Nazis or cannibals and equally ridiculous too. Mr. Steinhaus just made it up in order to discredit phdtraders.com and the other website with one strike. Yes, MLM does not have a very good reputation, to put it mildly (it is sometimes considered a pyramid scheme in disguise, as you can learn from this Wikipedia article), but only someone with an agenda (and a dirty one at that) would suggest that we are dealing here with a MLM organization.

Lovely hypocrite

Mr. Steinhaus is also a blatant hypocrite. How so?

Well, notice that in his “review” that reads like a hatchet job, he mentions that the website he smears (err…  reviews) has not been around long enough. He considers it a red flag. We checked how long this site has been around. Guess what?

The website he disparages for not having been around sufficiently long, phdtraders.com, has been in existence 8 months longer than the website he has been associated with in some capacity called ibistraders.com. Well, if that’s not hypocrisy, we probably don’t know what hypocrisy really is. Ibistraders.com uses indicators similar as the knock-offs peddled by Mr. Steinhaus, perhaps even acquired directly from him.

We believe that Mr. Harald Steinhaus would make an exquisitely dumb trader. Yes, we say he would make a dumb trader and not that he is a dumb trader because we suspect that he does not trade at all, but rather merely pretends to (which, as we already know, comes quite naturally to him), pretty much like most of Big Mike’s forum members. Now, how would we know this? That’s very easy. Allow us to explain.

If Mr. Steinhaus had merely stuck to peddling his genius work on BigMike’s trading forum, he would have never been exposed as a sleazy, underhanded operator. Denigrating other vendors is what got him in trouble. And that was really dumb for by doing so he took risks that were not commensurate with rewards. Only stupid, arrogant gamblers act like that. Traders don’t, not the smart ones, at least. The concept of minding your own business makes sense simply because adhering to it ensures the optimal risk-reward ratio. As simple as that, yet still too hard to comprehend by the golden boy of BigMike’s trading forum.

Texas Plantation 2.0

Is it any surprising though that Mr. Steinhaus belongs to the Big Mike trading forum? Not one bit. That’s a very natural habitat for people like him. After all, Big Mike himself is not that different. Just “cleverer,” in the street-smart meaning of this word.

You see, Big Mike is also a stealthy vendor, just like Fat Tails. He is a vendor who, just like Mr. Steinhaus, conceals this fact from the public. Yet, he is a vendor because he charges for Elite Membership that offers additional trading information. That’s exactly what some vendors do. They charge for some kind of information. But Big Mike does this with quite admirable a spin. Admirable, if you are into profiting from someone else’s work, that is, because the trading information Elite Membership grants you access to is largely of someone else’s work. Big Mike, just like our hero, Mr. Harald Steinhaus is a parasite. What a surprise, isn’t it? Parasites, folks, are just like cockroaches. If you see one, there are probably many more of them around.

Big Mike uses his members like tools, and not only those who contribute to his Elite Membership. Also those who don’t. There is a job for everyone on Big Mike’s Texan plantation. If you are not an elite member, you can still help Big Mike’s vendor business by smearing other vendors, meaning his competition. And the gullible tools (literally tools)  do this with abandon being cleverly manipulated by Big Mike who seems to never miss an opportunity to assure them that he will fight for their freedom of speech to his death. It’s his job, he says. Sure it is, except that he really means smearing his competition.

There is no such thing as freedom of speech on Big Mike’s forum. Just read the forum rules and you will see how your freedom of speech is curtailed there. But what a clever idea, anyway! You can be a vendor “without” being a vendor, which in the eyes of Big Mike’s delusional followers gives you some kind of higher moral ground to be an arbiter about the business of other vendors, and that means being able to smear them as it suits you without being really suspected of having any interest in doing so.

Clever, even if totally unprofessional, manipulative, and plainly unethical. Clever, but still totally transparent and questionable to anyone with a normal IQ, a dream IQ of most bigmikers.

Originally posted on the web on April 3rd, 2011.