Momentum Trading Group
No live trading. Relative newcomer to the trading education scene. No credentials, no proven experience, no bio listed on website, no track record of trades. A chat room of little value.
User Review( votes)
Today’s review is Momentum Trading Group, owned and operated by Andrew Cameron
Thanks for reading, today I am going to review a relative newcomer to the trading education world…MomentumTradingGroup.Com. The site has only been around since September 2014, and is offering a trading package for $1,299. The package includes a one hour a day live trading room, private coaching, informational videos, software, and a single pass through the Top Step Trader combine.
My initial observation is that the website is neat and orderly. There is a professional banner that talks about “Redefining The Standards Of Day Trading” though I am not sure what that means. If it means redefining the educational standards of online trading rooms, then I am all ears.
Taking A Closer Look
The next thing that I typically look for is a Performance Page, and then a specific page on the company owners. I scoured the website, and I can assure you that no performance page exists. And so next I look for an About page, as I want to know about the person selling the trading product. Nowhere on the website will you find any information on who actually owns this business, or what this persons qualifications are. I found this pretty shocking, how could they have no About page? Furthermore, there is no Contact page. How is a person supposed to contact and ask questions? And so, right off the bat I have three issues of convern:
- No Performance Page
- No About Page
- No Contact Page
Trying To Discover
This company is trying very hard to avoid selling their product. But still, I press forward and keep investigating.
On page one of the Momentum Group Website, there are three graphics that include descriptions of the company and what they can offer us. The first graphic is titled, “Why Momentum?”. It then goes on to describing their decades of experience and how this is our rare opportunity to learn from real life market professionals. And also how they have 65 years of experience in trading personal trading, prop trading, and private equity clients. This sounds very impressive, however we have no idea of knowing who these people are.
The next page one graphic is titled, “Our Live Trading Room” and includes information on how we can listen and watch traders trade the futures market. And that this is a unique opportunity to create the financial freedom the comes with trading. This sounds great to me! And so I signed up for two consecutive free trials of the trading room, but more on that experience later.
The third and final graphic is titled, “Our Proven Process” and talks about the 10,000’s of traders that Momentum Trading Group has taught throughout the years. And how their proprietary software and environment are the keys to your success. And once again, “Learning to be a successful trader is now available to you!” Impressive for sure.
As I am looking and reading over all of this amazing stuff, I keep thinking about how difficult it would be to sell any of this stuff without a track record of any trades, no bio or any information on whom owns this company, and no contact information. Amazing!
The Trading Room Experience
Of course, most of you reading this are already wondering why I am bothering to continue. But my pain must also be your pain. At least a little bit of pain.
The week of Tuesday May 12th, 2015 through Monday May 18, 2015 I signed up for two consecutive free trials with the trading room. Both trials were signed up with an alias and a rented IP address to conceal my identity and location. Each day, I showed up on time for the trading room, each session was recorded using Camtasia screen recording software. At the end of each trading session, the audio portion of the video was transcribed into words, and the video was processed by my full time research assistants located in the Philippines. My first report from my assistant arrived in my inbox on Friday night, May 18, 2015. She listens to the audio and watches the recorded video in HD quality, she is a college grad and speaks perfect English, and she reported not a single identifiable trade. When I read this initial report, it really pissed me off because I expend resources and I want something to write about. I had nothing.
Getting Closer To The Truth
By Sunday night, I am pissed that this room has wasted my assistants time. Time we could of spent on another product, but still I had a hard time believing that no trades existed. And so, on Monday morning (May 18, 2015) I decide to get my hands dirty. I log into the trading room and record everything that I am seeing, and I watch the session myself. For an hour, not a single trade. Plenty of talk. Plenty of technical language. Plenty of wasted time. And a few more things I notice, a simulated platform and a simulated trading DOM. Really? This is the type of stuff that drives me crazy.
While I am watching this video, I keep thinking back to the Momentum Trading Group website, and one little graphic that is included on page 1, something about 1574 trades analyzed and an 83% successful trading record. What is this guy talking about? There are no trades. I hate to be rough on this guy, and throw a wet blanket on his hopes and dreams of running his own trading education firm, but please, enough already.
Maybe I am being Too Rough
Maybe I am being too rough on this guy? But in all honesty, the guy is giving me nothing to work with here. As a matter of fact, the only way I was able to find out his real name was to troll through You Tube looking for anything related to Momentum Trading Group. That was the only way I found out that his name was actually Andrew Cameron. Ridiculous. Put it on your website. Write something about yourself.
Anyway, some of you might still think I am being harsh, and I get it. But I will let you make up your own mind. The video that you see below is a complete hour in the live trading room. I recorded it in its entirety, there are no edits. Its raw video. If you can find some value in this, then I am will gladly give this guy some credit. But these are the types of videos that drive me the most crazy. At least with the guys posting fake trades and using limit orders, and screaming “I’M IN I’M IN I’M” in their trading rooms, I have something to dig over and have fun with.
Wrapping This Up
This is a personal message for Andrew Cameron. Dear Andrew, I know that you have a lot of time and energy invested in your trading education venture. I can appreciate that. However, there are hundreds of other trading rooms out there, and they are doing the same thing. You need to be different. You need to trade. You need to be transparent. Show some trades, keep a track record of your trades, ultimately this is the only thing that really matters. We want to learn from good traders, but you are giving us nothing to work with here. I would be more than happy to come back later and write a new review, a glowing review. But we need some real trades in order to judge and measure your methods. Keep a log in a google spreadsheet and lets start keeping some records. I did this with another vendor, wrote a terrible review. He shared a google spreadsheet with me, and I got to see that he could actually trade. I wrote him a new, and a glowing review, now he has paying customers.
I also sent you a direct email, asking specific questions about your trading service. You failed to respond. I gave you plenty of time and warning that a poor review was coming. No response. And just as promised, I am putting this review out for the world to see. Hopefully, at some point in the future, we can get a better review written, with some actual trading by yourself.
Thanks for reading and don’t forget to leave your comments below. Even the people that disagree with me will find that their voices are important.