For Big Mike – something to consider

And for other loonies and phonies of this world. And not just of the trading world, though the trading world seems to be attracting an outsized share of such characters

Perhaps it’s not too late for you fellows. You. Yes, you. You know who you are. The Big Mikes of this world.

You who have been hiding the truth for way too long. Coming out might be a blessing for you. It could be very liberating.

Try it. Follow Pat. If he can do it, perhaps you could too. Or not. It depends if you have the balls to admit you have been fakes (and often also losers) all your life. Or a good part of it.

Let’s call it the Pat Sajak moment.

The Big Mike Trading forum – why so many find it so questionable?

Not just questionable but even downright repugnant because what else can you think about the smear jobs of our favorite Bigmiker Mr. Harald Steinhaus, the distinguished receiver of our highly prized Goebbels Award? Well, at least it’s highly prized among douchebags.

We are not the only ones who have a problem with the Big Mike Trading forum, if you can even call it a forum, in the first place. However, we will keep calling it that way through the rest of this article mainly for lack of better names. These hot summer days our brains are too low on inventiveness, but give us some more time and we may come up with some better descriptors for this thing. We are definitely not done here yet.

No, not the only ones at all. There are others out there and some of them entered the business of exposing the Big Mike shenanigans (“bullshit” is a better word) months before us.

We are talking about tradinglosers.com. Specifically, this article dedicated to Big Mike and his glorified pirates. That would be Mr. Harald Steinhaus and a few others. We have verified that Mr. Steinhaus was indeed (and still may be) peddling knock-offs of the NexGen indicators (obviously without the NexGen permission). We would not be particularly surprised if the other distinguished forum members were peddling knock-offs as well.

bigmike_tradinglosers

Apart from tradinglosers.com, you can find loads of critical posts about the Big Mike Trading forum and the Bozo-in-Chief himself on Elitetrader.com, a very respectable trading forum that has been around for a while and attracts more serious traders, if those hanging out on the Big Mike Trading forum can be taken seriously at all.

We know of at least 4 threads there where the Big Mike Trading forum is discussed and where superlatives are often missing, to put it rather mildly. One of them is specifically about the BMT forum, but did not last too long, much to our disappointment. It was closed by the original poster who apparently did not have the balls to keep the ball rolling. The other three are still open.

Here are these threads.

1. A list of all scam unregulated 3rd party educational vendors

http://www.elitetrader.com/vb/showthread.php?s=a2b6d774bfe55768a78c8ee077dadd6a&threadid=212110&perpage=6&pagenumber=154

2. Market charlatans

http://www.elitetrader.com/vb/showthread.php?s=a2b6d774bfe55768a78c8ee077dadd6a&threadid=243796&perpage=6&pagenumber=15

3. Any Trading Related Q&A Sites Like Quora and Esp. Stack Exchange?

http://www.elitetrader.com/vb/showthread.php?s=a2b6d774bfe55768a78c8ee077dadd6a&threadid=256402&perpage=6&pagenumber=6

4. BMT is way overhyped and misleading Vs ET

http://www.elitetrader.com/vb/showthread.php?s=a2b6d774bfe55768a78c8ee077dadd6a&threadid=258804

As you can see, Big Mike (along with his creepy brainchild, the forum) has been named among both scam artists and market charlatans, and he squarely belongs among those, not only in our humble opinion.

Let us use two relatively recent posts from one of the threads on the EliteTrader.com (the first one on the list above) by two different posters to illustrate what’s wrong with the Big Mike and his forum.

bigmike_davidcohenphd bigmike_rolextrader

The two main reasons why so many (including ourselves) find the Big Mike Trading forum questionable, and that are apparent in these two posts, are as follows:

1. the BMT forum is run by a deceptive, manipulative loser who lies even in the forum Terms of Service, in the page that is meant to be a legally binding contract,

2. the BMT forum has been taken over by sleazy vendors some of whom moderate or, worse, manipulate the forum, at times even hiding that they are vendors.

Here is one broad example of how Big Mike lies to the public: bigotry, libel, deliberate lying, piracy are not allowed on the forum. In theory only, because in practice that’s not the case at all!

The Big Mike Trading forum can be very harmful for it pretends to be something else than it really is. And what it actually is amounts to a sham (or even scam) business operation meant to extract money from the gullible public under the pretense of helping to educate it.

No other trading forum has been criticized online as much as the Big Mike Trading forum, even though many of them have been around longer. That, needless to say, is not accidental at all.

We may return to the posts on the EliteTrader.com to further illustrate what the trading community at large finds wrong with the Big Mike Trading forum.