No live or verifiable trading. Moderator does not trade. Owner and moderator refused to verify that they actually trade live, or with a simulator. Entries, exits, and profit targets using limit orders which is unrealistic in real time trading environment.
User Review( votes)
Today’s trading review is EminiMoney.com. A day trading system and day trading room owned and operated by a person named, “JC”. I am not really sure whom this person is, nowhere on the website is there a first name, last name, address, or any sort of identifying information. Next I checked the domain registration for eminimoney and discovered that the JC stands for J. Edward Cidzik living at 1215 Snowbunny Lane, Apartment B, Aspen CO 81611. I asked for a contact phone number via email and was given the telephone number of person named Brad at 708-491-0070. However, this phone number was called 15 times over a 10 day period and the phone number was perpetually busy. Not a good initial impression
Emini Money-What They Are Offering
“Emini Money is offering the expertise and experience of 17 years of trading the SP500.” The program includes a system for the trading emini SP500 contract that claims to average about 40 points each month, for each contract traded. They claim that trading their method is simple, highly accurate, and results are usually achieved the first 3 hours of each trading day.
The Video We Collected
On December 1st, 2014 we obtained a guest pass for the trading room and recorded three consecutive trading sessions from the live trading room that was moderated by a person named Brad. We then registered for an additional trial using a pen name and again recorded six trading sessions from January 5th – January 14th 2015 by the person named Brad. We specifically looked for a trading DOM on the screen sharing program that would show either a simulator or a live account. During the 3 weeks of recordings, not once did we ever see a trading DOM.
What We Recorded
As each trading session began, we were given several support and resistance levels that acted like profit targets. We were told that if price gets to point A, then it would probably go to point B, and if it went to point B, then it would probably go to Point C. There were no stops given, or exact price levels to enter and exit at a loss, it was more of a chatting session where the moderator spoke a lot about how these points act like magnets and how simple trading would be by just using these magnets. I have to give Brad, the moderator a lot of credit, he is a great talker. He would keep talking and talking and he spoke with such confidence. After the price would hit the target, Brad would make sure everyone knew that he called it out and how awesome the system was performing. Unfortunately, we never actually got to witness any live trades. But one thing Brad was good at doing was asking how everyone was doing. Which of course, a few people would type in a response like, “I got a winner!” and “Me Too! I got a winner!”. It was all pretty cute and Brad did a good job of keeping everyone entertained and feeling comfortable.
Price Target Problem
On many occasions, the price would indeed run up to the price target and then kiss the price. Only to quickly retreat in the opposite direction, heading for a price target at the opposite side of the screen. Of course, as the price touched the target, Brad would cry out in glee with words like “We did it!” and “Isnt this easy?”. The only problem, of course Brad was not actually trading. And the price would often just touch and not actually pass through the target. In other words, the chances that you would actually be able to get a fill were slim to none. On one target, we had a recorded volume of only 9 contracts traded. Considering that thousands of contracts trade each minute, the chances of you being one of the precious 9 contracts is sort of like hitting the power ball lottery. Regardless, even on light volume, we always had some participants reporting gleeful results.
Our Three Weeks Of Attendance
We never witnessed a live trade. Not even once. No trading DOM, not ever. In addition, we scoured the eminimoney.com website for any posted results from the moderator, or how the system performed in either simulated or live mode. No results. We were just expected to trust that everything would work out and that we would be able to easily make 40 points each month, trading the system. Unfortunately, I witnessed far too many instances where the price would kiss the target, and that the target would be the exact high or low or the day. Which of course can cause extreme trading stress, when the system exits for a profit and you are stuck in the trade, and then the market moves against you for $500, $600, or in one instance a full retracement of the daily range of $1600. Very, very scary situation to be in. And this is the fundamental flaw with the eminimoney trading system, live trades are not being posted in the trading room, hence there is no way to know for sure.
I Needed Proof
With all of the claims of high win rates, what I really wanted was more than just conversation. Since there was no DOM ever on display, nor was I ever able to capture a live trade via screen recordings, I sent an email out to the owner, Mr. Cidzik and very kindly requested some sort of proof that himself or Brad were actually trading the system. I explained that I was not in the least bit suspicious and that I really wanted to purchase the system and trading course, all I wanted was a screen shot of only one day of actual trading that corresponded to what I had recorded with my screen recording software. Mr. Cidzik responded that all the proof I needed through the vast array of testimonials on his website and the room members posting positive feedback from the moderators interpretation of the trading system. Still, I wanted just proof and again requested. He responded that he is only willing to work with those that are willing to pulling up their sleeves and get to work. I felt like I had indeed done plenty of work, I had faithfully gotten up every morning and reviewed three weeks of trading sessions. And after each session, I had painstakingly gone over the video in hopes of gleaming the legitimacy of EminiMoney.
Please, Let Me Purchase Your Trading System
I also make repeated requests that someone call me so that I could complete my purchase. But before I complete the transfer of several thousand dollars for the purchase of the EminiMoney trading system, I just wanted to see one verifiable trading session that corresponded with the system. Unfortunately, no response. I also sent multiple requests via email, no response. Did they receive my email? Yes. Each of my emails is embedded with a tracking pixel that auto notifies me the moment that the email is opened. Plenty of opens, but no response.
At the end of the day, I spent a lot of time and energy recording three weeks of worth of live trading sessions. Am I calling EminiMoney an outright fraud? I think I will let you come to your own conclusion. However, with so many legitimate trading systems, trading rooms, and trading mentors that are transparent and accountable, I just do not understand how anyone would send these people thousands of dollars on just a hope.
Thanks for reading. Sorry this is sort of depressing review. Most are. But keep your head up and know that there are indeed plenty of good people in the world that will in fact help you along on our trading journey. Please leave your comments and or opinions below. I always quickly respond to questions and I greatly appreciate that you took the time to read this review.