Live Traders

Live Traders
  • Honesty
    (2)
  • Quality
    (3)
  • Cost
    (2)
  • Support
    (3)
  • Verified Trades
    (1)
  • User Experience
    (2)
  • Prop Trading Opportunity
    (5)
2.6

Summary

Jared Wesley of Live Traders has some positives and some really big negatives.

The positives include a very good prop trading opportunity, a pretty good live trading room, and a solid educational experience.

However, the negatives include a purely fictional performance record of trades. And a completely ridiculous marketing strategy that includes all of the familiar ‘trader porn’ like multiple rented sports cars, private jets, unlimited shrimp cocktail and exotic vacations. One big marketing shitshow meant to convey a sense of wealth, exclusivity, and lifestyle freedom. Which of course is all fake.

If Jared dumped the BS marketing, this would be a very good product.

Thanks for reading today’s review of Live Traders

What is Live Traders? The company is a day trading, swing trading, and position trading educational service. Live Traders specializes in educating traders in Forex, stocks, and options.

Live Traders offers trading educational services ranging in price from $97 per month for the live Forex trading room, as well as $147 per month for the live stocks trading room. The trading rooms are broadcast daily and offer trading signals, general advice, and daily market commentary.

According to Archive.Org, Live Traders first appeared on the day trading educational scene in 2014.

Live Traders currently occupies the following social media profiles:

Live Traders is essentially a two-person operation. The main trader and head educator is a person named Jared Wesley. The other is essentially a little helper troll named Anmol Singh.

Jared Wesley manages the live stocks day trading room. Anmol Singh manages the Forex day trading room. The primary focus of this review is going to be about Jared Wesley and not Anmol Singh. Why? I have interacted with both Jared and Anmol. Jared is the trading brains, and Anmol is the marketing helper troll. I don’t mean too much disrespect towards Anmol, but in my opinion, he is pretty clueless about trading. His primary backstory includes running a Meineke muffler shop.

However, Jared Wesley has a much deeper experience and life history at trading, and in particular–proprietary trading. A deeper search of Jared Wesley reveals that Jared was registered with Finra from 2011 – 2015 as a Series 56 proprietary trader.

Performance Claims of Live Traders

On the Live Traders website, in the blog section, Live Traders posts the supposed investment returns of the signals provided from within the live trading rooms. Those investment returns are as follows…

2015 Reported Investment Returns:

  • March 2015 +$66,544
  • April 2015 +$19,872
  • May 2015 +$20,956
  • June 2015 +$27,515
  • July 2015 +$33,987
  • August 2015 +$53,030
  • September 2015 +$31,828
  • October 2015 +$75,891
  • November 2015 +$30,661
  • December 2015 +$43,365
  • Total Profits for 2015 +$404,992

2016 Reported Investment Returns:

  • January 2016 +$10,481
  • February 2016 +$39,775
  • March 2016 +$34,420
  • April 2016 +$21,418
  • May 2016 +$30,977
  • June 2016 +$24,855
  • July 2016 +$29,124
  • August 2016 +63,979
  • September 2016 +$31,917
  • October 2016 +$37,845
  • November 2016 +$32,772
  • December 2016 +10,717
  • Total Profits for 2016 +$368,283

2017 Reported Investment Returns:

  • January 2016 +$18,425
  • February 2016 +$34,502
  • March 2016 +$18,721
  • April 2016 +$30,229
  • May 2016 +$35,598
  • June 2016 +$54,409
  • July 2016 +$29,964
  • August 2016 +32,324
  • September 2016 +$56,552
  • October 2016 +$29,782
  • Total Profits for 2017 (10 months) +$340,506

As you can see, this is truly incredible–if true. Nearly three years of trading, and never a losing month.

With these sorts of investment returns, one can only imagine the amazing lifestyle. And Jared Wesley certainly has no problems showing off his supposed amazing trader lifestyle.

Live Traders: Purveyors of mighty fine ‘Trader Porn’

‘Trader Porn’ is a term that I coined back in 2014. Essentially, it is a marketing construct. It is the visual manifestation of a stereotypical day-trader. A marketing gimmick of what a supposedly successful day trader looks like.

A perfect example would be Tim Sykes orange Lamborghini and rented mansions. Or Jason Bond’s private jets and phony Harvard endorsement. Or Kunal Desai’s Bulls On Wall Street, where he projects himself as a globetrotting playboy. Or Cameron Fous with his audacious yacht parties and bikini model girlfriends. Or Anton Kreil and his private rocket ship (no kidding).

Jared Wesley is essentially attempting to replicate the same marketing strategy. Have a look at the following images…

So what is happening here? Essentially, there is a confluent marketing strategy that attempts to marry the supposed track record, with the supposed ‘trader lifestyle’.

The track record of massive profits is the fuel that feeds the imagery, that gives it legitimacy. But is any of this real?

Conversations with Jared Wesley

Since 2015, TradingSchools.Org has received 23 requests for an official review of LiveTraders.com. That’s a lot of requests. However, I have been hesitant to write a review for a couple of reasons.

The first is that Jared Wesley played an integral part in uncovering the Nonko fraud. In fact, without his help, I would have never been able to convince the SEC that Nonko was a fraud. The guy that owns Nonko is now in jail, waiting to be sentenced for securities fraud.

The second reason why I have not written anything is that I genuinely like Jared Wesley. I have spoken with him on the telephone at various times and found him to be not only a very knowledgeable person but also very honest.

Ok, so let’s get into what I don’t like…

  1. The track record of trades. It is not real. As Jared explained, “these are for entertainment purposes only.”
  2. The trader porn. It is also not real. As Jared explained, “everyone else is doing it, we cannot sell unless we also do it.”

So does this mean that Jared Wesley is not a successful trader? Nope. In fact, he is a profitable trader. But not anywhere near what he is projecting in this ridiculous marketing chicanery.

Does Jared have anything useful to offer? Yes. In fact, I recently spent a week (anonymously) inside of the live stocks trading room and found it pretty good. Are the investment returns anything close to what they are claiming? No.

However, this is not a pump and dump, front-running operation where Jared is entering trades in highly illiquid stocks in hopes of profiting from the subscribers that follow him. He is actually position trading in stocks where subscribers can actually follow and replicate his trades–without moving the market.

The good part of Jared Wesley and Live Traders

One thing I really like about Live Traders is that they are offering a semi prop-trading opportunity. Essentially, they have a corporate trading account that allows traders to pool their funds and trade from a single large account. This gives small traders a distinct advantage. They do not have to worry about the PDT rule, and can gain relatively large amounts of leverage with a very small amount of money.

I don’t want to get into the nuts and bolts of the pooled corporate account. I will let readers contact Jared and ask their own questions. However, I have spoken with Jared about this arrangement and it’s actually quite good. The per trades fees are very low, the software selection is good, and since Jared has prior experience working at different prop trading outfits, he knows how these things are managed.

I can only hope he does not get greedy and put his hands into the cookie jar. This happens a lot. So buyer beware.

Another thing I like about Jared Wesley is that he is upfront and honest about the marketing. He plainly admits that its just “for entertainment purposes” and that if he did not portray this audacious lifestyle, then nobody would inquire about his services.

My impression is that Jared Wesley is anything but this outrageous character he plays on social media, in actuality, he is mild-mannered family man.

Wrapping things up

Many readers are probably getting conflicting signals from this review. Truth be told, there are few things to like about Live Traders, and there are a few things that I simply do not like.

I like the prop trading opportunity. And I think that Jared has something positive to offer regarding the educational aspect.

However, the marketing is pure BS. And the posted performance results are pure BS. I sincerely wish that Jared would dump the marketing BS and portray trading for what it really it…a very hard to game to play.

Thanks for reading. Would love to read your comments below.

 

89
Leave a Reply

avatar
  
smilegrinwinkmrgreenneutraltwistedarrowshockunamusedcooleviloopsrazzrollcryeeklolmadsadexclamationquestionideahmmbegwhewchucklesillyenvyshutmouth
Photo and Image Files
 
 
 
Audio and Video Files
 
 
 
Other File Types
 
 
 
30 Comment threads
59 Thread replies
6 Followers
 
Most reacted comment
Hottest comment thread
42 Comment authors
JoseInterested PartyTerryErnieRobert Recent comment authors

This site uses Akismet to reduce spam. Learn how your comment data is processed.

  Subscribe  
Notify of
Jack
Guest
Jack

Video from Jared showing account statements

GemBow
Guest
GemBow

“portray trading for what it really it…a very hard to game to play.”

At least in the latest video he admits that.

jay
Guest
jay

Will there be an update on this?

Andrew
Guest
Andrew

Hi Mr. Moore,

So what’s the final verdict on Jared and Live Traders?

Ron Cernokus
Guest
Ron Cernokus

Hey…..Like the way you speak. I felt simuler while reading his free download book. I am going to try the chat room…….let us just see. Thank You Again.

Pipandrun
Guest
Pipandrun

Hello Emmett, when someone helped you to discover a scam, it means just NOTHING about this person. I can proove this with my own experience in germany. A trader helped me to bring another trader in jail because of criminal activities, but later I´ve heard that this trader is in jail, too, what I never ever would have thought about him when I visited (!) him in switzerland. And what I didn´t know, too is that he was in jail before when I met him. In 10 years I never ever met someone who could proof seriously a trade record… Read more »

TraderX
Guest
TraderX

Pipandrun,

That has to be a joke. Jared and LiveTraders were part of the Nonko scam. How? They promoted Nonko to the traders in their room and more lilely than not for a piece of the $$$. How do I know? I was there and was one of the victim.

TraderX
Guest
TraderX

Emmett, You have been totally misled and are wrong about LiveTraders and Nonko. Before LiveTraders funded traders through their currently broker, they were, infact, part of the Nonko scam by promoting Nonko to the traders in their room. I know this first hand as I was in their room when they were doing this and I signed up with Nonko because of this. I was really disappointed that as an experienced and seasoned trader that Jared did not do proper due diligence on Nonko. Instead, he and LiveTraders joined the Nonko scam and promoted to the traders in his room,… Read more »

Les Jensen
Guest
Les Jensen

About to signup

I was just about to invest in Live Trading’s FX Room. There’s a lot of talk here about Prop Trading, but is there any value in joining Live Trading if one isn’t interested in Prop Trading? If he lies about his performance, it would seem senseless.

Did you find this review helpful? Yes No

Derek
Guest
Derek

I would be careful trading with Livetraders. I joined the live trading room and participated for almost a month. I think it was a bad month overall for Anmol and Jared, I think I did OK as in I didn’t lose that much. Anmol is a better trader, he does have his bad days but overall, I think Jared recognizes this as well and typically joins him. Jared word vomits too much, doesn’t really do much and then badgers/belittles the room. I think this is an east coast thing, in terms of how he communicates so that’s acceptable. But the… Read more »

Andrew
Guest
Andrew

Derek,
Thank you for the constructive comment. I am certain that it will help those who are reading to make a decision whether or not to join Live Traders. I only wish more comments were as constructive and helpful as yours.

Andrew

JohnDoe
Guest
JohnDoe

Anyone see the actual education material / courses? All the drama in the chat room was interesting and I’m on my trial in the chatroom, it’s okay, but was wondering if Jared’s book and the Pro course was worth it. Thanks.

Ernie
Guest
Ernie

Hi JohnDoe, At this moment I can’t give a final verdict, because my experience isn’t over yet. If you are interested, I will keep you and this blog posted. I definitely didn’t do my homework before purchasing the PTS (Professional Trading Strategies) course/more likely JUST THE BOOK on Wednesday 18th, August 2019. Today is Saturday (3 days after) and I’ve only received silly emails with the same videos you’ve already seen on their Youtube channel, nothing about the book nor the “course”, which right now, I believe they don’t even have one, just books with theoretical content, that you will… Read more »

Ernie
Guest
Ernie

I’m sorry I mixed the dates.
I purchased the book this Wednesday 18th, “September”

Ron Cernokus
Guest
Ron Cernokus

Tried his $1 trial and closed out after about an hour. Just way too fast and stressful for me. Now I am in a battle trying to get a refund as they have been charging me $147 for the last 3 months! So beware folks.

matt pannuzzo
Guest
matt pannuzzo

Jared is a prick.. He is NOT a good coach. I would NOT recommend live traders to anyone unless you like being belittled and scolded for your mistakes.. He teaches you to trade like a pansy when your getting started rather then teaching you to trade to hit reasonable goals in the simulated environment prior to using real money.. If I have a 26k account im not trying to make $45 a day…. I’m trying to make $100-150 a day starting off. Like the person above me i tried the Live Trading Room, which was awesome. But because of my… Read more »

Dave Osborne
Guest
Dave Osborne

I for one have learned a lot from the YouTube videos Jared puts out. His live trade room is hectic and hard to follow until you understand the fundamentals which seems reasonable. Yes, he can be a bit rough around the collar with people at times but I wouldn’t necessarily say he sounds like he’s scolding. The liveTrader problems are NOT with Jared but with the other side of this company business. The customer service from the offers department is terrible to put it kindly! I bought the GapScanner when it was on sale and it NEVER worked. It took… Read more »

Robert
Guest

Same here. Just from watching Jareds Youtube vids, I’ve learned a lot and have put a couple of his strstegies into action trading options. So far so good. ????? for Jared.

Terry
Guest
Terry

Just checking this stuff out. Jared seems to claim that he is showing real trades and profit.

Jose
Guest
Jose

This review clearly is very old, by now many people already lost tons of money due to real scammers while, reviews like this keeps the good people away from the education needed. So far all the info have been excellent, this review seems too biased to be honest, but well what can you do, is the internet. I learned the hard way, until I was able to find them, sadly took me longer. Anyways, i will leave the video here which is the lastest one, which clearly speaks about the statements Also if you want you can check all the… Read more »