George Mahshigian Trading Products
These three trading products are the super trifecta of trading puffery and nonsense. A $5,000 trading product that is absolutely guaranteed to lose money. Deceptive, fraudulent marketing.
User Review( votes)
The following trading review includes two separate day trading systems and a stock trading advisory that were created by George Mashigian and are marketed under the web site addresses: trade2live.com, scalpingemini.com, oilscalper.com and equity-alert.com.
Say hello to George Mahshigian. He claims that he began trading advanced options strategies going back to the 1970’s, from there worked as a margin clerk and then a floor broker. Eventually he started his own futures brokerage and then sold the brokerage in 2011 to focus on selling trading products. A causal search on Google turns up a host of different websites, products, and trading systems that George has promoted over the years.
Currently, George’s main product appears to be a fully automated scalping system that trades the emini SP500 futures, under the web address of Trade2Live.Com. This same site also links out to scalpingemini.com, oilscalper.com, and equity-alert.com.
A Complaint About Oil Scalper
During the fall of 2014, I received a email from a client that was upset with the OilScalper.Com product. Oil scalper is a trading system that was accompanied with the live trading room and moderator. The trading room would execute the trade live and and customer could watch the system perform in live, real time market conditions. Before purchasing the system and trade room access, the customer was given a table (as shown on the right) that outlined the performance of the trading system and that the actual trading room performance was closely aligned to the system.
However, the customer began to realize very quickly that he could not copy the trades of the system or the moderator. The problem was that the system used a limit order for entry and a limit order for exit. Too many times to count, the system would show entry and exit signals with a profit. However, the student, and many other students could not copy the trades. This was very frustrating because the system would enter and exit, while the students would enter and could not exit. On some trades, the students realized losses of over $1,000 while the strategy was showing a profit of $100. You can imagine the frustration of the students as they had just spent several thousand dollars for a trading system, and now are suffering additional thousands of dollars of trading losses because the system was designed with that fatal flaw that could not be detected until traded in a live market.
This really is not that surprising. The Oil futures market is a thin market. The chance of a random order being filled at the limit price is rare. Purchasers of the system should not of purchased the system outright for thousands of dollars, they should of demanded a monthly subscription in order to test the system. Shame on your if you purchased the system. Shame on George for selling the system, for he knew if would not perform in real market conditions.
If you now visit OilScalper.com, you will receive the following message that Oil Scalper system and trading room is now closed. Shocking!
Scalping Emini Review
The next product that we are going to be taking a closer look at is another automated scalper trading strategy sold by George Mahshigian. This strategy is titled Scalping Emini and also has its own marketing and promotion website located at www.scalpingemini.com. The strategy has a cost of $4500 per year, and there is a one time set up fee of $520. The system attempts to scalp the emini SP500 for quick profits.
Limit Order Entry and Limit Order Exit
Looking closer at this system, we can see that this system also requires a limit order into a trade and a limit order to exit the trade. This is the exact same problem with the Oil Scalper System. Using a limit order to enter and to exit is pure nonsense. In fact, I have been trading the ES futures contract for 10 years, and have executed an average of 3000 trades each year, and getting a limit order entry is extremely difficult. Of course, some of you reading this will simply not believe, and want to believe that the system is going to perform. And so I would simply ask you to call your broker and ask them about any system that users a limit order to enter or exit any trade. Also, you can test this yourself by simply attempting to enter and exit a trade for only a single tick profit. Watch in horror as your order just sits there, unfilled…and then the market starts moving against you. And then you are forced to liquidate at the market for a loss.
Regardless, some folks are just hard headed and want to believe. What can these folks do? Well, for starters, if you really want to purchase this system, then ask them for a single month subscription and attempt to execute the system. Of course, they will not offer a single month subscription. You must outright purchase the system for $5k.
One Final Test
I called George. I asked him if he trades his own system. He deflected the question and said that he has hundreds of people that trade his system, and that they are making money. But I asked him again, George are you trading your own system? More slippery talking ensued. And then I said, George the bottom line, can you show me an account statement showing that are trading this system? Show my anything! Anything at all to substantiate what you are claiming on your website? Finally he admitted the truth…he does not trade his systems.
Are Consumers This Gullible?
Apparently George does pretty well selling this stuff. If you call his 800 number, you will be met with a very slick talking salesperson that is very good at diverting your attention away from the truth, and the truth is simple…this is yet another scam trading product.
Thanks for reading. Sorry for another depressing read. Please leave your comments below. And If you have had any experience with George, please reach out and leave a message.