“US District Court has ordered a telephone clerk of a NYMEX Floor Brokerage operation to pay more than $3.6 million for defrauding his employer.”You can read the full article here from the Commodities Futures Trading Commission website.
Futures trading can be a lucrative way to smartly accumulate wealth using our training programs to acquire the skill to trade intelligently. Combine skill with smart money management and you have a winning combination sure to give you every opportunity to grow your capital.
In the case mentioned previously, a rogue trader simply got in over his head and then attempted to hide his losses; making an effort to spread them over other accounts. Specifically, the trader attempted to assign losing natural gas trades to his employer’s client accounts. When that failed, he attempted to assign the losing trades to his employer’s main account. He literally cost his employer millions in trading losses. Cases such as this give legitimate futures traders, such as myself, a black eye in the public’s eye. There are legitimate futures traders who are making great money using legitimate techniques.
When it comes to successful futures trading working intelligently means never crossing the line of legality or using questionable practices that may get you in trouble with the federal agencies. The futures trading business is very closely monitored by the feds.
There are enough legitimate opportunities for wealth growth using legitimate techniques for all those who want to trade in futures. In addition to acquiring the right skills to be an effective trader, I feel that good money management is key to successfully growing your wealth. This is one reason why I have developed adjunct training for my trading students that focuses on this very important topic.
I strongly encourage you to visit the Commodity Futures Trading Commission website to stay up to date on legislation that affects our business and to understand more of how the federal government monitors trades and futures.
About Bill
