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And now for something completely different: Quatloosia
Posted: Friday, August 12, 2011

Posted: 9/12/2002 1:15:09 AM

By: NewStudent

If I've said it once, I've said it a hundred times...FOREX is not the appropriate investment choice for the passive investor who isn't going to spend his/her full time watching it.

Most people realize this, but swayed by seemingly high returns, elect someone to trade for them. This chosen person has usually convinced investors of their market prowess and ability to have mastered FOREX. (But please don't misunderstand me, high returns are very possible in FOREX. But CONSISTENTLY making a positive return is where the confusion comes in, much like a roulette wheel.)

You give your money to the "pool" (which is usually set up illegally, not registered or filing as a "Commodity Pool" with the CFTC, and your trader was recommended by a friend who's already in it (huge red flag). Or you went to a small seminar at some restaurant or hotel (second red flag).

----sidenote: Anyone that is going to trade a pool of funds in any commodity must be registered with the CFTC UNLESS, the aggregate amount of pooled funds is less than $50,000. BUT EVEN THEN, THEY MUST FILE FOR THE EXEMPTION. So you see, anyone claiming that they're going to multiply your money with everyone elses should theoretically be able to be checked out on the CFTC.GOV site.

As the typical scam goes, the "trader" might do a trade or two, but as luck would have it, because they see they suck as traders and lose every time, they've found it much easier to spend their time forging statements for the "web site", purchasing new homes, chasing hookers, and developing an overall god-like demeanor that starts their undoing. (This is usually the case because most scams involve previously employed plumbers, construction workers, painters, and a variety of other professions that don't necessarily make you a millionaire.)

But now, when someone wants their money back the trader has a choice. Initiate a ponzi to prolong the inevitable, (which is probably the time your going to get solicited), or just disappear with the funds.

I highly recommend visiting the sites Sooltauq pointed out in his post. You will see this variation played out a hundred times.

Currency trading has a tremendous use amongst institutions and individuals that need a hedge against another product.

Currency trading has no use to the individual investor whose investment objective is anything less than gambling. And if that's your choice, I'd choose Vegas because you'll drink for free.

Posted: Friday, August 12, 2011

Posted: 9/11/2002 10:58:31 PM

By: Sooltauq

Everybody should read and then some of the enforcement actions and then some of the enforcement actions at

As for "signals and signs", there are a lot of reputable firms that purport to sell market timing advice for the commodities markets. Personally, I don't believe in technical analysis (as opposed to fundamental analysis), so I'm the wrong guy to ask.

Trading in the commodities market is just like going to Vegas: Be prepared to lose what you gamble, and don't lose sight of the fact that until you build up years of experience that you will be one of the sheep that the more experienced traders will be looking to shear.

Posted: Friday, August 12, 2011

Posted: 9/11/2002 10:51:08 PM

By: InterestedinFOREX

I'd be very interested to learn about FOREX scams. There's so much out there it's impossible to know what's real and what isn't. Are there any reliable FOREX trading sites with signals and systems which work? Thanks.

Posted: Friday, August 12, 2011

Posted: 9/11/2002 6:15:37 PM

By: Sooltauq

Love the T-Shirt. Instead, we'll soon be offering a commemorative Quatloo, see the 25Q piece at

We're hoping to get "Brad" to be a regular contributor. I particularly enjoy the pictures he sends to the Nigerians so that they can identify him at the airport.

We allowed him to edit his own materials, and only allowed us to post about the 25 in the exhibit. This leaves about 150+ messages that I have been "cc"d on during the years, some of which are so funny that they are downright dangerous (you could break a rib, or choke from laughing).

Hopefully, we'll persuade him to allow us to post more of these letters.

BTW, the FOREX Scam Gallery is taking longer to create, but it is almost done and should be published this week. There was a lot more stuff out there on FOREX scams than I had thought, and it has taken some time to assimilate and organize it all.

Internal Administrator
Posted: Friday, August 12, 2011
Joined: 10/12/2010
Posts: 5780

Posted: 9/11/2002 1:32:28 AM

By: NewStudent

The Brad Christensen exhibit is hilarious. Highly recommended reading.

And there's still time to get your 4-1-9 t-shirt:

Posted: Friday, August 12, 2011

Posted: 9/13/2002 11:58:28 PM

By: EM

This is also great:

I just love the scanned passport and the bathtub pictures...


Posted: Friday, August 12, 2011

Posted: 9/12/2002 4:24:49 PM

By: gar

brad was so funny that i had to stop reading for awhile. the only thing funnier was the global prosperity scripts.


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