Global Trade Room
A smoke show of pure BS. Global Trade Room claims 98% winning days and $300,000 in 100% verifiable profits from real trading accounts. Complete and total malarkey. Zero transparency. They refuse to verify any of these wild and outrageous claims of success. Trading room is a complete joke, no trading DOM present on screen, no trading from the charts, all orders are limit in and limit out, all trades are verbal BS. Avoid these shady hustlers.
User Review( votes)
Thanks for reading today’s review of Global Trade Room
Global Trade Room is a day trading room and day trading educational company founded and owned by Simon Joseph, a registered CTA or Commodity Trading Advisor. The day trading room is moderated by Simon Joseph, Sandy Seghal, and Bob “Bang Bang” Amico. The cost of the trading room is a one time fee of $9,850. There is only a one day free trial in which to access the validity of the trading methods that they teach.
The Global Trade Room is also listed as one of Dr. Dean Handley’s “Trading Titans”, in which Dr. Dean Handley verified that the performance is honest and accurate.
One of the things I found to be highly interesting is that Simon Joseph is a registered commodity trading adviser, or CTA. Why is this important? Because if a person is registered with the NFA, then they better be able to verify every single claim regarding trading performance. The NFA and CFTC (regulatory body) take disclosure and reported performance very seriously for all registered members. In other words, the reported performance claims of Global Trade Room had better be spot on perfect, else the regulators are coming.
The Global Trade Room does report performance. In fact, a review of the spreadsheets listed on their website claims that the Global Trade Room made a total net profit of $308,160 trading three contracts per trade, for the year 2014. Also, for the year 2015, Global Trade Room is reporting profits of over $200,000. Where these trades simulated or hypothetical? According to Bob “Bang Bang” Amico, these trades are 100% real and verifiable, and these trades were traded using only live trading accounts. Please watch the following video which confirms…
Bob “Bang Bang” Amico also claims that for the entire year of 2014, the Global Trade Room had only 5 losing days. In other words, the Global Trade Room has winning days over 98% of the time. Pretty impressive numbers. But are they real?
In addition to this outrageously excellent performance, Bob “Bang Bang” Amico also claims to be a pretty big trader, in fact he claims that he usually trades in the 20’s. Meaning that he trades 20 contracts per trade.
How did I collect all of this information? I attended the live trading room sessions for the month of August and the first week of September. Everything that I am writing came directly from the recorded transcripts of the live trading room. Again, I am not making this stuff up. The video does not lie.
As I watched the video and recorded everything that was happening, I could not help but keep thinking about these wild claims of success within the context of a being a fully registered CTA. Once again, a registered CTA better be able to fully verify every single one of these claims, or the regulatory body is going to come down like a mountain of pain. I hope for Simon Joseph’s sake, he can produce the trading records that verify these returns.
Inside the live trading room
The video below shows the typical trade inside of the Global Trade Room.
If you watched the video, you will notice that at no time during the trading day will you see a trading DOM, nor will you see any trading from the charts. Rather, everything is verbal. I personally found it quite confusing as the charts were so small and the trades were typically only a few seconds long.
One of the things I found very unsettling were the consistent use of limit orders for entry and exit. Both Sandy and Bob would quickly declare, “I am in” always on a limit entry and they always got into the trade with no delay. Unfortunately, this is not how the real world of trading works, a person does not simply enter on a limit order. Limit orders take time to fill, yet Sandy and Bob always got their price, always got their fill.
Another problem was the quick scalping exits on limit orders. In particular, Sandy would quickly declare that he got his 10 ticks or 5 ticks with zero delay. He would just howl into the microphone and congratulate himself on yet another winning trade. After every winning trade that Sandy would declare, Bob would immediately begin howling congratulations to Sandy on yet another winning trade.
The whole time, Bob declaring that this was real time trading, with real money accounts, not the “simulated trash” like the other trading rooms. He also liked to reference Dr Dean Handley and how Dr. Dean Handley had fully vetted the company and the performance. The whole time that I was listening and recording, I kept thinking about the field day that the CFTC was going to have with this video. These guys better be able to verify every single trade, else there is going to be hell to pay with the regulators.
At the end of the long trading day on September 2nd, I sent an email to Bob “Bang Bang” Amico and said that I was ready to send my $9,850. I was excited about the opportunity and could not wait to learn all of the secret trading methods of the Global Trade Room. However, before I sent my $9,850, I just needed to verify that the trades called in the single recorded trading session were real trades(as Bob claimed). I just wanted a screen shot of Bob and Sandy’s consolidated trade report that comes with Ninja Trader. Bob responded with a very curt, “NO”. Bob “Bang Bang” Amico simply blew me off. Bob has no problem declaring that each and every trade is 100% real and verifiable, that the Global Trade Room is the highest earning trading room on the internet, and a whole host of other wild exaggerations, however the moment you ask him to verify performance…he turns as slippery as a wet turd.
How could someone simply send these guys $9,850 without verifying performance? It truly amazes me. They claim that they earn over $30,000, every single month. And win over 98% of the trading days. This is by far the most outrageous claim that I have ever witnessed since I began writing these reviews.
What should you do?
These guys claim 100% real trades, with real money accounts. If you are on the fence or thinking about sending these guys $9,850, then you should make them verify these magnificent claims of success. Is verification really such an outrageous request?
I will wrap up this review and speak very candidly. A lot of people have blindly purchased this trading room based upon the implied credibility of Dr. Dean Handley’s “Trading Titans” list. However, in my opinion, the Global Trade Room represent all that is wrong with the trading education industry. These folks are ugly, shady, and outrageously dishonest. I wish I were wrong, and I would love for these jack offs to prove me wrong by showing account statements, but I am afraid that they are just going to keep on with the scam until the CFTC comes calling. Which I am sure they will, as I have already filed a complaint.
Thanks for reading, and don’t forget to leave to leave your comments below.