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.

 

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Richard Kraft
Richard Kraft
28 days ago

Has anyone actually taken the PTS course and tell us if it is BS or not?

Michael
Michael
4 months ago

Anybody on here completed PTS and been trading for a while with a solid first hand review?

Would be much appreciated.

Cheers.

Linus
Linus
5 months ago

Great review

Frank
Frank
5 months ago

Thanks for all the great info. on Live Traders. I was looking for someone to tell it like it is and this article is very informative. It answers all my questions.

Thanks

Marty
Marty
5 months ago

This review seems incomplete as there still does not seem to be a conclusive yes or no re: Live Traders.

I have been watching a lot of YouTube vids from Live Traders (binge watching actually) and I REALLY like what I am watching so far, but have a few reservations.

PRO’s
1. Upfront – Jared is very quick to caution that this is “not an easy business” and to “start small… like a $10 risk”

2. Comprehensive – From what I have watched they cover a lot about trading in their teaching that has taken me years of study and piecing together – the psychology of trading, position sizing, risk management etc, and they also go even deeper to teach stuff that I haven’t been able to learn; patterns and profitable setups with entries and exits, Level II tradinh, the importance of using limit orders, moving stops up as the trade makes you money, adding as the tradee makes you money, using quality brokers etc.

3. Chatroom – I took the trial version and was in the room on Thursday, April 9th, 2020. Jared called out this Long buy setup:

GSX: $33.01 x $32.74.

Now what this means for anyone reading who may be saying “huh?” is that GSX was a buy when the price broke $33.01, but if the trade failed after it broke that number (went right back down) then you need to get out at $32.75. A trade like this is based on a specific pattern setup with a specific candle generating the entry and stop loss prices. I tried to take the trade but didn’t get filled, because I did it wrong. But those who did made good money! In the next 4-5 minutes you had ample opportunity to make quite a bit of money as the price rose to $34.09. Doesnt seem like much?

Then lets put this in terms of how much money this could possibly be.

Lets assume you you trade with a $500 risk (your willing to lose $500 on a trade). If your entry is $33.01 and your stop loss is $32.74 then you have a risk of $0.27/per share. $500/$0.27 = 1851. 1851 is how many shares you should buy. If you have 1851 shares that go up $1.08 cents in a matter of 5 minutes you have made $1999.08. That’s pretty damned good!

You could also think of it like this: $0.27 was risked and $1.08 was made. $1.08/$0.27 = 4.

You just made 4 times your investment. Pretty damned good.. Keep in mind that 4:1 was the top, but you could have got out at 1:1, 1.5:1, 2:1… all REALLY great returns. You see where I am going with this!

CON’s

1. I am REALLY turned off by the trader porn, REALLY TURNED OFF! It cheapens the entire message to the point that I am extremely skeptical and wondering if what I witnessed in the chatroom the other day was a big one-off.
I really believe there are ultruistic people out that genuinely and sincerely want to help others. Jared claims to be one, and I am one. I also believe that if they are ultrusistic and they are able to make a profitable business that allows them help others then that’s GREAT too! But to use cheezy marketing and sketchy maneuvers like trader porn…. AWFUL! Undermines the credibility of the entire operation and leaves doubt in my mind. I wish he’d never of done it, NEVER!

2. I am pretty sure I have caught Anmol in a lie! He stated that he met Jared while in college. Fair enough. He stated he started trading in 2010. Fair Enough. He stated Jared took him under his wing and mentored him. Fair enough. But… then he stated he was trading for a big firm and was at a level 7 or 8 and had a huge capital account to trade with (one or two million I think it was) and that as long as he made $4000/week? he was golden. BUT, here’s the thing, he was apparenty doing this while he met Jared!!! Bullshit! BULLSHIT!!!

Conclusion: I’m really on the fence here. Are they actually legit? Is the PTS course worth the big money they’re asking for it? Or is this all a suckers game????

Marty
Marty
5 months ago
Reply to  Emmett Moore

About the actual PTS course though? It seems pretty comprehensive, and you do say in your review:

“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.”

I am not looking to make hundreds of thousands… I only want to have a solid system that I can employ to make reasonable returns year in year out.

BTW, I read your personal story. I am glad you have taken the other stance!

Victor
Victor
5 months ago
Reply to  Emmett Moore

I was in the room in february. They didn’t make money in that month. Jared told me he made 5.5R in january. So not much there neither. in this video Jared is telling he have been struggeling in March https://www.youtube.com/watch?v=n_qgPGPTBEE&t=2448s

So this is 3 month out of a year without any profits. I think the strategies used, was profitable 5-10 years ago, that’s why he is always showing he 10 year old prop report instead of new brokerage statements.

I will take a tour in the room and document everything. If he is still breaking even or lossing a bit, there is clearly something wrong

Derek
Derek
4 months ago
Reply to  Emmett Moore

Anmol’s swing trade results are all in the Swing Trading newsletter and he’s up 21% this year. If you don’t believe in the day trading, I think at least we can at least respect his swing trading and follow along.

That said, looking at the review and comments it seems like Anmol had a troubled past. However, I don’t think that is the case anymore.
Nowadays, he is usually the one calling out winning trades in the daily live chat room.

Victor
Victor
5 months ago

I’m going to take a trial with camstasia. Did a month with them in February. And they didn’t impress me. It ok to have a slow/bad month. But i’m thinking he is merely breaking even and earns by subscription payments. However will document my time in the room and probably put the recordings on YouTube if the markets still are “slow”

John
John
6 months ago

I dropped the cash in their hands for the PTS course. I found it to be very beneficial and, in my opinion, worth the cost as I earned the cost of the course back with some successful 3 bar and buy set up trades. He is very honest in his assessment of the risks involved in trading and beats you over the head with the fact that account management is a priority over any other aspect of trading. He recommended risking only ten to twenty dollars when starting out until you ‘earn’ the right to raise it. I am glad I listened as on my first few trades I was stopped out every time.

bob
bob
6 months ago

This company is an absolute fraud. They will sign you up to a trial and then if you forget to cancel the trial they will absolutely not refund the charge.

This is how they are making all of their money

Derek
Derek
4 months ago
Reply to  bob

Definitely not true. I had subscription issues and their support resolved it by the next day.

Ed Owen
Ed Owen
3 months ago
Reply to  bob

Sorry Bob, but that’s why I put reminders in my iPhone to cancel subscriptions I don’t wish to continue. I’ve seen this complaint from several people on boards and YouTube and I just don’t have any sympathy. Be a grownup, set a reminder (kind of like a stop loss for your credit card) and don’t blame others for your mistake.

Iarn
Iarn
8 months ago

I watching he’s videos and have learned a lot.
He’s straight forward and everything he’s says are meaningful . Don’t know if I will sign up for a course tough. I’m educating myself. Take time and it’s costly, but you learn the real way

andreas larsen
andreas larsen
8 months ago

The information is great. But starting a subscription payment, and then having to wait for an email with login info is so shady. I have now waited 4 days with no response from either their mail, or on site support. Not having log in info also means i have no way to cancel the subscription. I would advice you to be very careful when trusting these people with your money.

Patrick
Patrick
9 months ago

The ONLY BS, is this review. Jared Wesley is 100% honest, and should sue you for defamation of character. His P/L is EASILY verifiable, and unlike you, he trades LIVE, and you can see EVERYTHING.
His PTS Course is 2nd to NONE. Ask any of us who have learned from him, and PROFIT from his education. You need not even spend a dime, you can watch his stuff on YouTube and judge for yourself, then spend $1 and watch him trade LIVE for 30 days!!!
This man makes enough money without yours, and genuinely wants to help others, and if you listen to him, you can profit too.

Patrick Waugh MA
Patrick Waugh MA
9 months ago
Reply to  Emmett Moore

So what? The review is crap, and untrue. This guy has NEVER taken PTS or attended the trading room, he is clearly just got an agenda. Probably a competitor who is jealous.

Victor
Victor
9 months ago
Reply to  Emmett Moore

What about the updated review emmett?

Christopher
Christopher
4 months ago
Reply to  Patrick

I agree 100% Well said.

Neville Walters
Neville Walters
9 months ago

Excluding the sales BS, the only important review for me is can a profit be made with the method(s) ?

Patrick
Patrick
9 months ago

Yes! 100% for real, and you can watch him trade live, and see his training FREE on YouTube. Then, once you see he is for real, you can invest in yourself and get his course.

michael dokun
michael dokun
7 months ago
Reply to  Patrick

Have you profited from his course?

Jose
Jose
10 months ago

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

https://www.youtube.com/watch?v=9PUOcsmtBfA

Also if you want you can check all the free videos they have on the youtube, or even join the chat, or get education.

Im just a guy that lost tons of money, and was skeptical of everyone.

Juli Adams
Juli Adams
9 months ago
Reply to  Emmett Moore

Im so sad to see as I read this thread in attempt to get a fair review of Jared and LiveTraders. After watching several hours of LiveTrader video that looked promising there are so many inaccuracies. I’m extremely new to this pass time (hobby for me) called day trading. I watched and enjoyed many videos by Jared in hopes to learn. Next step I take is to research this company before giving my credit card information to join the live trading session and I end up stumbling on this thread. First and foremost the author of this article Emmett Moore I think you are extremely LAZY, UNETHICAL and a COWARD. How is it that you write an article about someones character and delay or better yet NEVER follow up with the facts??? You admit you owe attention to this matter but never follow up even after several months time to complete your research!!! To me this entire thread has no creditability. As a (financially independent) women this has been a Gossip filled waste of my time. All this Jealous filled emotion from a bunch of men with no facts who claim to be professionals. What a disgrace. You sound like teen age girls in a cat fight. For whatever it’s worth Jared I wish I was able to get a fair representation of you. I wish you continued success and hope for a no risk opportunity to join your live trade room to learn and make a decision for myself. Juli

dtchurn
dtchurn
8 months ago
Reply to  Juli Adams

I think you’re misinformed about tradingschools and Emmett, Ms. Adams. If you’ve posted that after just having seen a few comments on this review page, then you’ve missed out on a long history of tradingschools effectively saving several would be dupes’ life savings from the shamshows of this snakeoil cess “industry”. He’s been sued over 15 times and stalked as well by hired thugs of some of these psycho scam vendors, as well as having been embroiled in the depths of this sordid scam industry in a prior life, so it’s kind of unfair to say he’s been completely “lazy” and “cowardly” venturing into these stinking depths of the cesspit to root out the truths sham by sham of this industry most of us would rather not have to mess with in our regular lives. I am wondering why there never was a follow up review since it was mentioned Emmett received statements and irs statements, stubs etc. from live-traders. My wild guess is that maybe it was found those were terribly doctored and recombined into fakery, and the only way to get to the truth in document would be to corroborate with the brokers or have the CFTC subpoena the account trading results (if any, or just an elaborate hoax and shamshow as usual). And maybe tradingschools felt there were a few positives despite it, (not to say readers don’t disagree or have another opinion) so just decided to leave the review as it was.

Terry
Terry
1 year ago

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

https://www.youtube.com/watch?v=eXO1EXDnCpE

Dave Osborne
Dave Osborne
1 year ago

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 2 weeks for a response and only because I called the school number and someone was able to get it working… for that day only. It has NEVER worked prior or since and it is now 4 weeks without results. I wouldn’t buy a subscription from these people if my life depended on it for fear of ZERO response and no refunds.

I even asked Jared in a chat room one day about it and he said it was not his department – obviously distancing himself. I will continue to learn from him but will NEVER deal with purchasing a thing from the merchandise department.

Robert
1 year ago
Reply to  Dave Osborne

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.

matt pannuzzo
matt pannuzzo
1 year ago

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 interaction with him I am canceling that/ Hopefully I will be reimbursed…

Ron Cernokus
Ron Cernokus
1 year ago

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.

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