Thanks for reading today’s update of SchoolOfTrade.com and SidewaysMarkets.com
On November 22, 2015, TradingSchools.Org published a negative review of SchoolOfTrade.com and SidewaysMarkets.com.
The review was direct, concise, biting, and downright nasty. Over a 3-month investigation period, TradingSchools.Org recorded dozens of hours of highly questionable activity within the “live trading room” and interacted with many individuals that had been allegedly scammed by SchoolOfTrade.com and SidewaysMarkets.com.
The response from SchoolOfTrade.com/SidewaysMarkets.com was predictable. The owners of the company claimed extortion by TradingSchools.Org. That they were being threatened with a negative review unless they paid a fee. That they were the victim. And they refused to pay, “out of principle, courage, morality, and a sense of justice.” Some individuals quickly came to their defense and posted highly complimentary comments of SchoolOfTrade/SidewaysMarkets on the TradingSchools.org blog. However, the overwhelming majority of comments came from individuals that had experienced extremely negative results.
Many of the individuals that were interviewed by TradingSchools.Org also took the additional step of registering a complaint with the United States Commodity Futures Trading Commission.
The CFTC responds
It appears that the cluster of complaints from various individuals triggered an official investigation by the CFTC. What the CFTC uncovered was shocking. The following is a list of bullet points from the official investigation:
- The owners of the company were using fake names. There is no Joseph James, or Meghan James. The real owners of the company are a husband and wife team named Joseph Dufresne and Megan Renkow. Currently residing at 1521 Addison Road, Palos Verdes Estates, Ca 90274.
- Since 2011, the company has sold at least $2.776 million dollars of trading educational materials and live trading room memberships.
- June 2016 through April 2016, the company was averaging $60k per month in sales volume.
- The company claimed that purchasers of the $4,999 educational package could expect to recoup those costs within an average of 16 trading days, by simply following the live trades within the trading room.
- Joseph Dufresne claimed to have started trading in the year 2000. And after 3 years of successful trading, he opened his first hedge fund in 2003. Claimed to be a “Professional Day Trader” at Vantage Capital Advisors LLC in Los Angeles since 2000.
- Claimed to have received an award, “Trader of the Year” in 2001; and was named “Top 30 under 30” by Professional Trader Monthly in 2006.
The CFTC discovered that all of Joseph Dufresne and Meghan Minkow’s claims of performance history were fraudulent, the employment history and hedge funds claims were bogus, and no awards were ever issued.
Furthermore, the CFTC discovered that prior to September 2007, Joseph Dufresne had no trading experience whatsoever.
Prior to September 2007, through 1999, that Dufresne worked as a maintenance worker at a country club, worked the front desk at a fitness center, a student worker at Arizona State University, and a salesman at various mortgage companies. In fact, from November 2007 through October 2008, Dufresne was altogether unemployed.
The CFTC also discovered that Dufresne had been incarcerated for 6-months in 2005, a felony conviction for attempting to sell narcotics in Maricopa County, Arizona.
Joseph Dufresne Trading Performance
Joseph Dufresne claimed to be a hugely profitable day trader. The CFTC discovered that Joseph Dufresne was a terrible day trader. In fact, in a review of his trading records, the CFTC discovered that between September 2007 and April 2016, that Joseph Dufresne was a complete and total failure at trading. His total net losses were over $119k.
A deeper review of his trading records revealed that from December 9, 2014, through July 20, 2015, Dufresne had not placed a single live trade. Yet, his daily marketing materials claimed that he was consistently profitable. During the TradingSchools.Org investigation, we discovered that Joseph Dufresne was using the following spreadsheet as proof of supposed performance. Notice the claims of nearly $500k profits for 2014.
The CFTC’s investigation revealed that Dufresne claimed the following, real money results to purchasers of his trading products:
- 2011, $411,715
- 2012, $433,861
- 2013, $491,145
- 2014, $626,864
- 2015, $716,104
All of these claims of profits were fraudulent.
The big question that readers should be asking, how did this douche-bag double-team, Joseph Dufresne and his wife Megan Renkow pull off this scam? Did they spend massive amounts of money on Google advertising? Did they advertise on AM radio or direct mail? Nope.
The root of SchoolOfTrade.com/SidewaysMarkets.com can be traced back to the earliest promotional efforts of NinjaTrader Brokerage/Ecosystem. In fact, for several years, NinjaTrader Brokerage/Ecosystem was the feature promoter for SchoolOfTrade.com/SidewaysMarkets.com.
Ninjatrader Brokerage/Ecosystem exposed their prospective customers, numbering the thousands, directly into the arms of these scam artists.
Some readers might be thinking to themselves…”Oh, there he goes again, picking on NinjaTrader”. Maybe I am being unfair. But in the past 2+ years of writing reviews of trading educators, the reoccurring theme is that the overwhelming majority of trading scams are originating from the direct promotional efforts of NinjaTrader Broker/Ecosystem. Sorry folks. But that is just the reality.
Until someone starts calling out NinjaTrader Ecosystem/Brokerage, they are going to continue with their terribly irresponsible promotionalal behavior.
Thanks for reading. And for those that like to get into the nitty-gritty details of the CFTC investigation…the following is the court filing:SchoolOfTrade/SidewaysMarkets
Does anyone know how these guys are still in business? It makes no sense. Is it just because now they have a disclaimer? So does every other trading “guru” out there from the legitimate ones to the wannabes-everyone has a disclaimer if they are offering any kind of education wether they actually know what they are talking about or not. I have never taken his course but I feel bad for the people that were scammed. I have to say though that after watching his vides on youtube he does seem to know what he is talking about and presents what I think is a decent interpretation of the charts in his weekly videos. He has some great trade ideas. Idk. Maybe he has had enough time to learn it all by now. This whole scam though obvioulsy rubs me the wrong way. Especially knowing that he claims to be a 23 year old veteran and professional trader. It also seems like they have done a good job of keeping this fairly well hidden. All I can say is karma is a bitch.
Can someone answer: how is this possible?
In 2017 they were fined 5 million: https://www.cftc.gov/PressRoom/PressReleases/7651-17
They are still operating, still using false names and selling a course for $ 5000:
Lol, JJ is still going on with his mad harping about how to trade videos. (https://www.youtube.com/channel/UCqLB48bfuOrZmHWb9IrrpmA) Looks like the TS spotlight has long since passed. At least the site now has ” CFTC RULE 4.41 – These results are based on simulated or hypothetical performance results that have certain inherent limitations. ” on it now admitting quietly it’s all a typical “education only!”-duck under the desk shamshow. The snakeoilers just can’t resist all the new hapless flock lured by the zero-commission robinhood effect and all the ads and shilling, who either miss or don’t heed tradingschools’ warnings about all these shamshows’ tricks so they have to find out the hard way and get monthly churned. maybe, maybe someday tradingschools can be part of the cftc or some organization affiliated with them to have multiple tradingschool exposing capabilities where past victims are free to “testify” in a safe cftc/fbi protected forum how they were scammed and ongoing scam shenanigans by these vendor fakes so finally exponentially more of these fakers can be handcuffed in the middle of their shamming like Laandgarten when the FBI moved in on him showing for real to the watching chat members how much of a shitcess scamshow these fakes had been doing for so long with no live trading.
how is this guy still operating? seem slike all this, all your work etc is for nothing? you can join his chat room and buy his courses still. Website is still up. What a bunch of bs.
You want a futures trader who actually is successful and live trades/would be willing to show his actual account go here: https://www.secretsociety7.com/
Two friends of mine that have been around for a long time and don’t have complaints all over the internet. They like their members making money.
Ah bud definitely my mistake. I’m way too trusting in this area for some reason. I need guys like you and your great and seemingly dangerous work to help me stay out of trouble. Funny, I’m almost 50 with multiple businesses I am involved with but these chumps get me? Thank’s Emmett for stepping out and helping guys like me who just want to trade well and not get ripped off on our journey. Too late for me though. I’ve lost alot of my families money and I’m freaking disgusted. 9 yrs later, back to square one for the …. time. I’m going to go read Kevin Davies’ book I bought over a year ago.
This bastard took my money as well in 2012. I wanted to learn order flow so he and his wife fooled me good. Once I paid and watched him trade for a week I knew i had been scammed. Got me for over 3k before I cancelled my credit card. I want my money back!
Really sorry I couldn’t get this done earlier. Might of saved your money and frustration.
Well, this is a long shot, but would you still have access to his course by any chance?
November 28, 2017
Federal Court Orders California Residents Joseph Dufresne, Megan Renkow, and Their Companies to Pay More than $4.9 Million in Restitution and a Monetary Penalty for Fraud in Connection with Offering and Selling Futures Trading Strategies and Systems
Emmett, please explain to me how SOT is still making you tube videos with the intention of fleecing new customers. Weren’t they banned from all aspects of selling products related to futures? His carnival act is like a bad infection that keeps reappearing. I would think this violates his settlement with the CFTC. Do they have to give him jail time for him to stop?
The CFTC is a civil regulatory agency, they do not handle criminal. The FBI and US Attorney handle criminal.
Currently, there is little appetite and/or resources available to attack consumer fraud. Specifically, fraudulent educational vendors. The course is set by the US Attorney, and it appears that the majority of resources are focused on immigration, drug trafficking and gangs, and terrorism.
Considering that Trump University sold a fraudulent $65,000 investment educational package, and got away clean with only a $25 million dollar settlement, I doubt there is going to be much effort in this area.
So we have to take things into our own hands. Not rely on the government to solve our problems. We have to police things ourselves.
Ok that’s a great point made, but this guy just finished up his hearing with the CFTC then he has the audacity to continuously post new videos to fleece new suckers. I understand resources are always limited, but doesn’t there become a point where committing a crime directly in front of a police station becomes a must prosecute.
Guys like this dont stop. Until the FBI arrives.
I should know. When I was running my boiler rooms and various penny stock scams, a week never passed when I did not receive a cease and desist letter from a state regulator. After awhile, you figure out that the civil regulators cannot do very much, other than issue a fine. Maybe, just maybe a judge will issue an order to cease business. But these things take time to work through the courts and justice system.
Good point. Even Ross of WT won’t be stopped until his hands pushing the simtrading shortcut keys (that he espouses give a “speed” edge), are handcuffed and forcibly escorted away from the gray hoodie trifecta’s simshow room. The state of the retail trading education industry is so fraudulent and so disguised by years of shilled info sites that some of the worst scammers keep milking it even for those who are initially caught by the cftc and incur minor slaps on the wrist as there are just so many aspiring retail traders new to this wild west snakeoil industry every month. Even shadowtraders.com is back in business after being fined for stating their sim accounts of their trading room were “live”, real-time “trading”.
I will throw out a crazy theory. I think their is a negative view of Day Traders period. They think of the short sellers who they blamed during the Great Recession. Remember all the talk about stopping those evil short sellers. So in my folks opinions Day Trading is associated with Wall Street and the evil 1%. Yes the truth is far from the common perception. But in general I think Day Traders are not looked upon in a favorable light.
No one views day traders as folks struggling to pay their bills trying to make a little extra money, even though that is the case most of the time. In stead they think Evil GS screwing it to the little guy!!
So bottom line stopping scammers screwing Day Traders is not really high anyone’s list.
Just some food for thought.
Yep. I completely agree.
And, the internet has decentralized everything where its difficult to track down whom is actually doing what.
Just took a picture of one of those wonderful regulators in action. He will get on that case any minute now.
Does says right on the website that just informational only not for trade or investment advice.
What happened to this guy getting prosecuted. He is still selling his BS to retail traders as of 2/17/17. I mean really!!! I thought that finally one of these charlatans went down. How can a man wake up every morning knowing his goal is to separate people from their hard earned money in a fraudulent manner. He talks nonstop about nonsense. These people don’t have an honest cell in their body. Don’t know how they live with it. I am a true believer in karma and I know his day of reckoning will come whatever that may be.
Can you please explain to me as of yesterday this guy has the balls to post on you tube and sell his bs online again? Doesn’t this create new legal issues for these husband and wife scam artists? They have the audacity to thumb their nose at the regulators and peddle their waste as if nothing happened. I really don’t know how this guy lives with himself. He evaluates trades like he knows what he’s talking about. If one doesn’t know any better he may seem knowledgeable with his used car salesman pitch. Please explain to me how he can continue without facing consequences. I am also a huge believer in karma and the ledger of life has to be balanced eventually.
People like Joseph and Meghan are con artists. And I know con artists, I used to be a professional con artist. The problem is that they do not know any other means than to lie, cheat and steal for their income. It is deeply ingrained within them. The only things that make people like this stop are handcuffs and a prison sentence. Truly. I ran for 10 years with all sorts of investment frauds, always being chased by the civil authorities. Eventually, the criminal authorities got onto my trail and locked me up. After going to prison, this was the only time that I actually reflected on the damage and harm that I caused others.
The same will happen Joseph and Meghan. Only a matter of time.
In the meantime, we will continue to watch them and warn others to avoid the scam.
I know your history and I truly commend you on shining light into this cesspool of trading educators. I was duped many years ago, but I got off relatively easy and I was in the business on the professional side with all the necessary licenses which still didn’t help me to make the correct decisions when looking for some education. Until I started reading this site, I truly didn’t know how bad it has become for new traders. The type of fraud committed on a daily basis is mind numbing. I know there are limited resources, but how is it that when you are licensed you are put through the grinder if there is a hint of unethical behavior. I am talking about crossing stock with the wrong account numbers, clerical stuff, get ready for a visit from regulators. On the other hand, these scam artists are bilking customers out of their last dollar. It is just crazy to me. I just couldn’t believe these people aren’t worried about jail time or can still look in the mirror at night. I hope investors continue to get educated and start making the correct decisions.
To Emmet and all others here. My name is Paul Anthony Iglesias. I was a big supporter on this forum of SOT and JJ. I spent $5,600 on his course and ultimately stopped trading with him as my trading results did not materialize. I have read the CFTC complaint and feel totally duped. I stand corrected.
One of the room mods of SoT did the “Amico split” and started his own site.
hilarious “about” bio blurb:
“I started right where everyone else did, in the gutter. Working jobs all over the place with more W-2’s in my history than I would like to admit. I understand what it is like coming out into this profession with nothing to your name and having to build from scratch. Buying some crazy course for ten’s of thousands of dollars like the ones advertised online just doesn’t cut it for folks with barely that much in their accounts like most start with. I want to be able to help traders from all walks of life with this journey and help them to get to their goals! I have been trading for almost 10 years primarily in the futures markets with a heavy focus on Crude Oil futures. I have traded all over the place from grains to currencies but have really found a home in Crude Oil. I have spent thousands of hours developing my own personal system and teaching it to traders around the globe. That is where this site comes in — so I can get this information out there to folks who are starting out in the hopes of helping them build their accounts and make the money they deserve.”
, i.e. monies they “deserve” to contribute to his monthly churn.
I noticed some of the links posted here regarding Ninja willing to speak to Emmett so I thought I would contact them, I can bitch about the eco system which I have done or I can also try and remedy the problem so I contacted them.
I spoke to John who is the VP of customer service and before speaking to him I was able to confirm that he would be someone who had the authority to do something. Apparently John is a co-founder of Ninja.
I told him I have no connection to Emmett but that I did file a complaint against a vendor they currently promote in their eco system and also have filed a complaint against Ninja for promoting them.
We spoke for nearly an hour. My impression is that he cared and realizes this is a problem. We both agreed psychological issues prevent the majority of traders from being profitable so many will always complain of a vendor. I suggested that they simply provide a basic test for profitability- in addition to identification of the owner and site so that their identities are in the open in addition to open feedback on their site. We discussed their current vetting system and used it against the vendor who I complained about who was still listed. He showed no problem with them- When I have him a simple search he saw the pages of complaints. I suggested starting with this simple search on all their vendors.
I am a nobody in their world- But in Ninja’s defense they did take the time to talk with me- After our conversation the vendors ( and 2 more I know of) that are frauds were removed from their eco site. He said changes will likely take some time – I am a totally satisfied Ninja tool product user ( not brokerage) so I definitely want their software business to succeed. So I have that bias.
I also have Multicharts and it is more open to different brokers but for everyday execution with my trades I value Ninja more.
I don’t give a shit about Ninja 8 – Simple guy with simple needs. But I think
if Ninja is open to suggestions perhaps Emmett could create an area for everyone to submit requests for policy change for vendors like Ninja to improve.
It’s fun to bitch – but it would also say a lot to be able to turn that into a positive.
BMT has proven it is not capable of such things it would be great if this site could actually be a positive force of change.
Now Back to my emails!!
Al Brooks implies his high IQ and exceptional analytyical ability is why he is so consistently profitable unlike 99.999% of futures traders.
Not to mention it is easy to be a self-proclaimed consistently profitable trader when you never show a live trade in your life or any proof of profitable trading. I tell you if I ever hit rock bottom I am going to open up a Scam TR. After watching all these con artist; my room will be the best most over the top ever. Pictures of me growing up dirt poor in the Appalachian Mountains with me having to take a shit in the outhouse.
And then I discover day trading and now want to be Mother Teresa and share my good fortune with others. I will be next to jets and the top models. Hmm I wonder how much Kim Kardashian charges for a shoot and being able to say you dated her. But I kicked her out of bed for eating crackers and now onto the next super model.
Man my room is going to be GOOD!
Oh Rob!!!!! I’ve followed all your posts since I started watching this forum and agree with almost everything you say, especially about showing brokerage statements (the only real proof). But I have to now draw the line . . . You kicked Kim Kardashian out of bed for eating crackers. Jeez. You must either have been lying too dormant for too long and are some sort of super gigolo. Crackers! Please. Next super model. What then? You’ll kick her out for Tootsie Roll Lollpops!? C’mon man. Life’s too short, take advantage of all those opportunities before it’s too late.
When I am start my TR and making all the money my BS TR says I am making Kim and her 8th wonder booty is just a drop in the bucket.
To digress away, I never understood what was so sensational about Kimkardashian. She isn’t attractive. Isn’t a model, except supposedly for a standard of lower living. And is a disgrace to armenian-americans.
A picture is worth a 1000 words
Tell me that is not the 8th wonder. LOL!
I visited the zerogravityroom. man was I underwhelmed. It was the same kind of talk I’d seen before ad nauseum for years. if they are not willing to show broker statements, they aren’t trading live. It was nowhere close to trading for a living. But then again you won’t find a trader who makes a living i.e. > 200k a year showing broker statements. They wouldn’t be teaching or running a room. To be positive, it was a pleasant room and may be ok for newbs who want someplace to hang out.
Alex is not called Alex Zobell. His real name is Alex Sielaff.
Just type into Google search alexsielaff129_ta61vdz9 and it will bring up part of his Zero Gravity Trading website.
Then just google search alexsielaff129 it will then bring up his other website alexwon the dream eater.
Look under affiliates and have a laugh. See if you fit the category he is targeting.
Then search Alex Sielaff 129 and it will bring up his twitter account Alex @mr pink 129 you will find 3 or 4 postings of his trades probably in sim but no posting of losing trades. All his retweets are •18 years-old •Professional Futures trader. Enough said!
unbelievable. this is really him? “sample page”
this is the same person? unbelievable. “design plan”
Lol. As previously stated, this was for a web design class with business integration. This was my idea! Look at when the site was last edited! Nothing to hide here guys. You all think you “busted” me when all you did was Google my name.
I must say, I underestimated the ability of you all to get so worked up over fairy dust. 🙂
Emmett needs to start giving out awards for the best Journalist Investigators. I nominate you. And man when I was arguing with this 18 year old kid claiming to scalp ES profitable everyone was like give the kid a chance.
But after seeing he is associated with GTR, the biggest con room ever, I think he has had his chances.
And people wonder why my post about TR are 99% negative. Just once I would like to be wrong about these Day TR con artist.
You’re right as usual RobB. amazingly it seems like futuresfx.ca is some kind of canadian sister site version of GTR.
just what the ‘industry’ needs, a new protege of simonjousef. and I thought zerogravity was going to ‘change the industry’ too. shame on me.
I have another one for you here. Remember Emmetts review of MES he said the website was owned by Sattam Alsabah.
Well this new website for funding new traders is coming SOON is also owned by him https://oneuptrader.com
I have another one for you here. Remember Emmetts review of MES he said the website was owned by Sattam Alsabah. Well this new website for funding traders is coming SOON is also owned by him www dot oneuptrader dot com
www dot bizapedia dot com forward stroke trademarks forward stroke ONE-UP-TRADER dash 87091781 dot html
futuresfx.ca is the original site for GTR, not a sister site. GTR was the new and improved version. Futuresfx.ca is still in use though. I am not a protege of Simon’s. Quite the opposite. I quit because we fought too much over business practices as well as other things.
Not only that, I do not use his methods of trading nor will I ever.
Alex you are a CRANK. I am a good detective I am the Pink Panther. Yes I am advertising you as a CRANK. Don’t dig the hole any deeper. Just move on. BYE Mr Sielaff. Go and play with your teddy’s.
Lol. “I am a good detective”. You sure are a stellar user of the Internet! Congratulations! I sure am a CRANK! I will go play with my teddy’s!
Hey Alex how is Chris or are you Chris or are you Alex? Or are you Charles IX (anagram) Or are you just using your Son’s name.
Just found another website registered at your address called crossfiretrading dot com. Owner is Chris Sielaff. It was registered 1 year ago in the state of Minnesota. Why would anyone call their business the same name as a business in the same State as the one which was prosecuted by the CFTC back in 2009 for running a Ponzi Scheme. Unless Charles Chuck Hays is their dad.
I see Chris/Alex you is still part of the Crew with Simon Jousef . Check him out here www dot hedgefundbvi dot net under Our Crew LOL.
Chris/Alex is also the Market Wizard on Futures io under the name rocksolid68 who happens to be Alex who started a new journal on there. The whole Journal is pure BS.
Here is his facebook profile www dot facebook dot com stroke chris dot sielaff question mark fref=ts check his friends list . I found this video about Emmett www dot facebook.com stroke futuresfx dot Canada stroke videos stroke vb dot 100001605446818/978528278877344 forward slash question mark type=2&theater.
Man this guy is a 48 year old man pretending to be an 18 year old. How bad is that. Someone tell Futures io that ALEX/CHRIS you are BUSTED.
Lol. This may be the most comical post yet!
My father works in an office space for one of the largest healthcare providers in the nation. I, Alex, am not my father. I think it is funny though! Thank you for the laughs.
What you mention on FIO is widespread knowledge there? My dad and I share an account. I am the one who regularly posts there.
The crossfiretrading was the original idea for a trade room. However, we decided to not follow through on it. Regarding the Charles Chuck Hays, I am not even sure what you are trying to say.
I am laughing pretty hard at this Pink Panther guy. I am still trying to figure out if he is joking or not! Lol.
So, what exactly did you “bust” us for?
I don’t see how you can call Alex a CRANK. He isn’t charging anything to be in his room and on the times that I’ve attended it I’ve found it to be an informative experience.
I think that if his intention is to help educate people then it would be better to formalize his core teachings into either videos or PDF documents but since it’s not costing anyone anything you can’t complain about that.
If I had paid to be in the room then I would expect lessons about core concepts of this approach to trading but once again it’s a free room so why the hostility?
Thank you very much Stray Dog for the honest thoughts. I am not so sure why everyone here is so angry at me when I have done no wrong. The information that they found is not anything bad. I have all of it public as I have nothing to hide. Not only that, the stuff they “found” was not even bad? I am not so sure why the hostility. Anyways, thanks again. I hope that these people will lose the bitter attitude at some point…
Well to be fair it seems to be a nice room and so far it’s free. Sorry, all I can say that it’s just not for me. I’ve seen too much, done my share of modded indicators and scores of strategies for NT, tried other markets and platforms besides futures, and been to too many rooms and been around bmt close to when it started and been on elite before that. And the old thread on GTR (which for some reason has been deleted by Emmett when it has the real meat of the amico fiasco, not the current review thread). and WT has left a bad taste in my mouth. So yes, if there is a good record of proof eventually, it could be a good starting room for noobs.
See my reply above to Alex/Chris
Then don’t come to the room Rob! If you don’t like it, don’t come! No one is telling you to!
I have gotten absolutely nothing but positive feedback on the room!
Read the other comments on the “breaking news” you all “found”
If we are giving medals away to people that know how to use Google, can I get one? 😉
Will someone mention this in his room today?
Go for it! I have literally nothing to hide! Read my other comments. Everything you guys “found” was public information for a reason. Everything was either stated on my website or here on this blog.
So I implore you to say something in the room if you would like me to reiterate the same thing again! 🙂
If you have nothing to hide why in the room do you only show your chat box and members can only chat with you, so they can not scroll through the questions or post chats to everyone and also members do not have the ability to see all members present and PM if they wanted to. Maybe you are posting all test you get, but one certainly could filter using this method.
There is one other thing that bothers me. Look you might be for real and trading a live account, but the way you are using chart trader could be misleading used. If you are not for real you will get angry at what I say, but if you are for real you will fix it. You are not showing chart trader order entries prior to making a trade at least from what I say. Instead you are just announcing a trade and exit and then we see the position on Chart Trader. The problem with that is many con artist TR rooms do this using a lenient sim generator to produce positive slippage which is unrealistic in real world trading.
If you want to set the Gold standard for a TR then you need to show evidence you are trading a live account and display your trade entries prior to taking them and if others can not duplicate the results then something is wrong.
And frankly being complimented by a bunch of naive people who have not been scammed by a TR is not much to brag about. I have high hopes you will set the Gold Standard for TR and prove you are the real deal.
I think your point about setting the gold standard for trading rooms is valid but you could reframe how you talk to Alex about it.
As for the chat setup and display issues, I think that this has more to do with not knowing everything about the software and how to configure the chat than deception. I keep coming back to “if the room is free what’s the scam?”
Maybe no scam. Maybe a scam. For the same reason his journal on BMT might be scam. I have seen it before done by scammer, that does not mean he is doing it even though he was affliated with GTR.
So how do they scam. Many ways. People PM them and then they well you trading education on the side. I know as one of them did that to me or in so case they are brokers and try and talk you into using them. There are tons of way to scam with a supposedly free room
But I will give him the benefit of the doubt. I am not saying he is a scam, but if he wants to set the gold standard he needs to show he is trading life as we all know trading sim can be completely fake.
I thought I would give a perfect example of a Broker giving free chart analysis:
You know the old saying nothing is as expensive as when it is free.
Thank you Stray Dog for the continued honesty.
Rob, I am grateful for the lack of hostility and the benefit of the doubt.
I know that there are ways I could try to “scam” people. But listen, if I were to do so, you know how quick it would all fall apart? One person talks and I would be done. Not only that, I have no interest in scamming people. I don’t even have too much interest in making money off of others!
As far as the PM thing goes, Big Mike and I have chatted quite a bit to find a balanced way for me to do this. I am sure that he is hawking my PM’s for he has his own suspicions. Big Mike is a cynical dude, as is everyone in this industry that has been around for a long enough time. He would not let me get around him.
Lastly, if I were to start scamming people I would lose all of my favorite things. Comradery, friends, and the knowledge base of FIO. I absolutely love FIO! As you can see, I am a Market Wizard, I have Legendary Status, as well as having the Activity Award. This is all because I spend so much time out there and contribute a lot! If I were to be banned, I would lose all connections to the community that I love. Nothing is worth that.
Thanks again, I hope you continue to work with me, Alex.
“But listen, if I were to do so, you know how quick it would all fall apart? One person talks and I would be done.”
I wish that statement was true in this industry. First before this site there was no place you could even get an honest review and even with tons of people calling warrior trader a complete scam he continues to scam right and left.
That statement has nothing to do about you, but the comment.
As for Big Mike I know members that have a fantasy journal and then sell trading education as they tried to do it to me. Again not saying you are doing it, but just that it is done.
Lastly I do not think Market Wizard is representative of profitable trading but number of posts.
All that is good, but the one and really only thing that matters in this business is can you show proof that you trade a live account consistently profitable. I wait to see and hope for the best.
Hey Rob, I figured out the chat box thing! I told you I would do it if we could figure it out! 🙂
Indeed you did. I am pulling for you believe it or not.
Thank you very much. I am very grateful for that. You have very good reason to be a cynical person in this industry, but let time show that I am not like the rest. Thanks again, Rob. I hope to see you in the room again! 🙂 (maybe under your real name? ;))
So how does one get into the room?
Either go to the website, email me, or go to my journal on FIO!
Rob! Thank you so much for the genuine response! I am very happy to respond! 🙂
The chat box. Someone asked something similar before. I honestly am not sure how to get it so the viewers can see the chat! I am being serious. I can not find it in any of the settings to allow the attendees to see the chat. That being said, I am open for receiving help on this! The chat you see on the screen is the real one. I do not think I can edit stuff out of it. If I could, you would see me do it since it is my only chat box. I am more than willing to fix this. It would make life a lot easier for me :).
Regarding the chart trader; I am not 100% what you mean, so if my answer is not what you were looking for, forgive me. I just may need some more clarification! The attendees are able to see the trades the second I take them. When I click “Buy Market”, the chart trader is up the second I get filled! As far as using something for good slippage, I am not sure what that means. Assuming you have been in the room, you see my trades are never under 20-minutes long. Honestly, people are more likely to get better fills than me if they wait till when I take some heat. Lol. But since I am in trades for so long and for larger targets/stops, I do not know if a few ticks slip is too big of a concern since attendees would have plenty of opportunities. That being said, I totally understand what you mean. I do not use limit orders, so when I say I am buying, when you see the marker on the screen, that is the second I bought. There should be no delay between what I actually do and what appears on your screen. The chart you all see is my trade chart with the little trade box removed since there is no purpose to have it on yours.
I am not sure what you mean by showing trade entries on the chart. I try to say when and where I will enter/exit. If there is a better way to do this, I am all ears :).
Many of the people that give me good feedback mention that they have been in other trade rooms. You should be able to see them say that in the chat box on screen (and hopefully in your own if we can figure it out).
Lastly, I want to thank you Rob for being civil and genuine with your replies. I am grateful that you are working with me on this. I hope that with yours and other’s help, we can achieve that Gold standard you are talking about! 🙂
Thanks again, Rob! 🙂
Just saw this post. I am not sure how to respond without being harsh.
The point I was making, which I am sure you are aware of, is that if you are trading sim one can set a sim generator to give you fills that you cannot get trading live. In fact I have been to TR that have sim generator that will actually give them positive slippage. It is a great con artist tool to make it look like they are trading. When you use a sim generator that gives you positive slippage and pay no commissions you can trade noise profitable. Sure on any given trade as you pointed out you might take heat and a member could get the same price. But over time a Sim generator results is not representation of live trading in any way.
Here is my biggest complaint, the first rule to setting a Gold Standard is you must be trading a live account.
Yet so far that I am aware of, you not only refuse to show any proof of trading a live account you will not even state if you are trading live or sim. Maybe for fear of being investigated if you are lying.
So that leads me to believe you are trading sim. And then that begs the question why? Why does a self-proclaimed trader who say he can scalp ES consistently profitably trading sim.
I hope you are going to set the Gold Standard and trade live, but first you need to say if you are trading live or sim and if trading sim then have a HUGH warning:
“I am only trading SIM, therefore this is for Entertainment purposes only. If I am not willing to trade my method live should you?”
How did you find “alexsielaff129_ta61vdz9” to begin with?
I just put the full address into a Google search box and clicked on the one that says Hello World then clicked on the uncatergorized section. On that page to the left you will see alexsielaff129_ta61vdz9. The rest was easy.
I put “zerogravitytrading.com” in Google search, but I don’t see anything in the results about Hello World. What am I missing?
Use the http : / / zerogravitytrading dot com
4th Search down
The kid is running a free trade room and you guys are spending this much effort to dig into his past? He did briefly work for Global Trade Room and I think he mentions something about that on his site. Free room is a free room, nobody getting scammed or ripped off for a change.
That IS my real name! I go by Alex Zobell for marketability reasons. My other website was for a web design class I was in. Look at the website, it is obviously not active.
I did work for GTR for a bit. I disagreed with some certain business practices so I left them.
That is also my Twitter handle! Thank you for posting it here! Free “advertising”!
My screenshots were PnL’s for an entire day, not a single trade. But good try!
Your last sentence makes no sense, but I will try to address it. My bio mentions my age and profession like the rest of Twitter.
None of this is a secret, but thanks for pointing it out anyways! I wrote about working for another trade room on the website, so good “detective” work!
Good back story there Rob but I think it needs a little work. I like it up till the part where you were taking a shit in the outhouse but then you got bitten on the ass by a copperhead or a black widow spider. While trying to such the poison out of your own ass you discovered the full head but empty wallet karmasutric position and then Jesus and Buddha and gave you the trading holy grail and commanded you to go and do good works.
Al Brooks talks about growing up poor as well. AL has woven a very intricate web, which will take much skill to unravel.
Only?!? No Ferrari, Lamborghini and a good ol’ Rolls? No expensive fake wine vintages? No truffles on the barbie?
Feigned humility, not bling-bling, is how you win a client’s trust for a trading educator like Al.
And reading in context and being able to recognize hyperbole and irony/sarcasm is how you let people know that you can write and read idiomatic English.
Ha ha – clever Cyn and very droll 🙂
I also contacted Ninja some time ago. Here is there response.
Wed 7/09, 6:50 a.m.
## Reply ABOVE THIS LINE to add a note to this request ##
Hello ******, and thank you for your note. NinjaTrader has an initial vetting and ongoing audit process for ecosystem directory participants. This includes but is not limited to risk disclaimers required by regulatory bodies, background investigations and general complaint searches. If a vendor passes these checks they receive conditional approval for a listing in our vendor directory similar to other companies that support 3rd party apps or add-ons.
Specific to Kongzaga, in 2013 when they were added to our vendor directory we found site owner Valdemar Kazana had no customer issues, reports of wrong doing or industry violations. As such his company was provided a single text listing in our directory which remained until a recent audit found a complaint against him when his text listing was removed. In the 3 years that Kongzaga had a vendor listing, they were never promoted by NinjaTrader other than a forum post when their listing was added. Additionally we have never received a complaint about him, his company or his services yet if we find any issues with a vendor they are removed from our site which was the case for him.
Vendor compliance and code of conduct are important items that are already part of our vendor listing requirements. However we are always looking to increase what we can do but there are limitations to what we can require so it’s also important that traders conduct their own due diligence. Additionally it’s important that traders report any issues to us since if we see a pattern of issues we will and have removed vendors previously as a result of this input.
Reading a vendors disclaimer will provide insights into the vendor and these are the type of items I would suggest traders look at before making any purchase decisions. Traders can also ask the vendors questions to understand these items. NinjaTrader takes many steps to list only credible vendors, we are looking to make improvements to this process to protect traders but every trader should also conduct their own due diligence prior to purchase or trading with a vendors tools.
Lastly, certain websites play-up our involvement with many of the vendors listed well beyond what is provided. For example, one website states that for KongZana they were “highly promoted”, “had a prominent listing” and given “free webinars” none of which is true. I am not sure why this is done since it is a disservice to traders. It would be better for everyone if they accurately reflected items instead of embellish them.
Thank you again for your suggestions and all the best in your continued trading.
NinjaTrader Customer Service
The award winning NinjaTrader platform is always FREE TO USE for advanced charting, strategy backtesting and trade simulation.
You see, this for me is where NinjaTrader slip back into the water of the cesspool and are quite happy wallowing in the shit. That shit being Plausible Deniability.
I think Emmett is right, all NinjaTrader do is give us some lip service about how they are going to become more diligent within their ecosystem, but it is all bullshit. They may not receive direct compensation, but you can bet your bottom dollar they are compensated in other ways (links to their trading platform download, new traders signing up to their brokerage, advertisement banners etc. etc.).
NinjaTrader already claimed over on FIO that they didn’t have any affiliation with SOT and Emmett was stating a falsehood.
And then somebody dug a bit deeper and found proof that NinjaTrader did promote SOT in the past. NinjaTrader should be concerned because with all of the current CFTC busts and new ones coming, they will be continue to be a laughing stock as their name gets dragged deeper into the eco-cesspool
But again, if Emmett is right, NinjaTrader won’t care one little bit no matter what they say. If they did actually care, they would pull the EcoSystem right away.
In my conversation with him that was my initial thought and response. The canned crap that they are not responsible- that they had disclaimers – that people are advised to do their own diligence
ad-nausea. The 1st part of our conversation was quite colorful.
He really seemed to not have a clue to how much weight people give to Ninja with their recommendations and associations with Ninja. When I provided the numbers who attended one vendors I attended a few years earlier ( over 1000) and the number of sign-ups he seemed quite surprised.
Especially since Ninja probably did not receive a fraction of what that fraud vendor did in revenue. The 1st thing he said is that they receive no compensation or kick backs from the vendor.
When I pointed out this vendor made at least 300k in one presentation with their endorsement ( They had a sales meter ticking) the tone changed with him. This is also when we performed the 1 on one search making his search look rather foolish and many of their existing eco partners as bad apples.
Contact them and complain directly. and keep complaining here
until they make a change. The more the info becomes searchable
the more it will effect their bottom line. That’s what I told him.
They need to get out in front of it because they have made a lot of
enemies imho- Especially when they entered the broker biz.
AGain- I respect and appreciate their trading software – That’s where my loyalty ends.
Agreed. As a trading platform NT7 was great. NT8 will be great too once it comes on full stream.
My loyalty ends there too.
Any vendor associated/promoted by Ninjatrader via the EcoSystem or an “Education Partner” should be regarded as pure fantasy horseshit belony. Why? Because NinjaTrader have been complicit in promoting vendors that have been proven fraudulent and/or have charges laying against them.
Who knows how many more are sitting there waiting to be busted. NinjaTrader will quickly remove them once the shit floats to the top and they are exposed and claim all is good, nothing to see here!
NinjaTrader need to start listening and just pull the ecosystem, right NOW. All the other trading platform vendors out there must be laughing their socks off at how ridiculous NinjaTrader are looking right now.
He did say that Trade Station has a similar situation and felt they (Ninja) were being unfairly singled out.
I am not familiar with Trade Station so I do not have
a point on reference. Anyone know?
I know MultiCharts has a few like Roy Kelly but nothing to the extent of the eco system of Ninja.
Reported their site to youtube, including reference to CFTC complaint. Youtube reply: “We’re unable to identify a violation of our Community Guidelines within your recent report to our Safety and Abuse Tool.”
99% of this so called industry is an utter and complete scam. These business models are nothing more then late night get rich schemes wrapped around trading.
All you need is to think about is this. If they are able to make 10-50K / month trading this system, why even sell it. Just do it, dont tell anyone , and collect your cash.
Common sense people … I mean even the clowns on CNBC never show their P&L because the media knows that will destroy their entire network.
Last but not least , INDICATORS … Another milk machine for software developer / engineer types who suck at trading to make money. Even Tom Sosnoff from TastyTrade.com / Think or Swim. The guy pawns himself off as this great trader, but he made all his money selling Think or Swim software to TDAmeritrdade not trading in the PITS. Oh ya he loves telling stories about when he was down trading, but his fortune was developing software not trading. And just because you are a good developer does not make you a good trader…
So just use your head and avoid all these places. They are just a mirage …
It is so nice to respond to a post from someone living in reality as opposed to someone like Paul who is completely delusional. Thank God there are others that get it.
It is like Alex in the other thread who is going to teach his method to scalp ES profitable. If he could and that is a big if to put it nicely, the second it was out every hedge fund would be doing it and by default it would no longer work. There is no Mother Teresa out there. All these folks have ulterior motives even if they say they do not like teaching for money on the side. Anyone that can do the scalping these TR claim and do it profitable are hidden away with their mouth’s SHUT!
Must have been a huge moment when you found this website. Something akin to one finding NIRVANA. Can just imagine you saying to yourself and looking in the mirror. WOW, I finally found a place within the trading fraternity where I fit in.
Another non sense post by Dilution Paul. Now he has to fill up all threads with his nonsense. Paul are you defending Sideways Market TR as this is the topic of this thread. I will keep things simple for your apparent low IQ.
GOT PROOF OF ANY OF YOUR BS CLAIMS??????
Dilution is a good word,,,lol
Paul is another majormongo shill. They must be losing members in his room.
That is so funny. I swear I just posted the same thoughts before I even read you post. Great minds think alike.
And if Paul thinks I am bad he better hope he never gets in a fight with the Stray Dog
Yes- USE YOUR HEAD- and THINK!
That is what is in short supply here and everywhere else it seems. People seem not to want to think for themselves so these fraudsters will gladly do that for you- for a fee. Then when the non-thinkers realize they have been deceived what do they do? They whine- Then they start the entire cycle again. and again.
Indicators- As you say another illusion- People think the more indicators the higher probability of a trade which total BS. This leads to more emotion being tied to a total arbitrary setup. But people seem to love the star wars indicator look.
Is the market really that difficult? Not if you think about it. What does it do?
It moves in a trend or a range or a wedge on any given day- That’s about it.
You know that the ES is traded 80 %> algorithm’s. Are these algos AI
type algos? do you really need AI to define a trend a range or a wedge?
Are the algos stuffing orders? Ya think? What might that look like on a chart?
( Think SCALP)
So you define the market by it’s characteristics – You define your questions and break it up piece by piece – You think- You produce answers and test your theories and you build your method.
It is your method based on your thoughts and your work no one can take
it away from you – and if you are like me you don’t give a shit what
anyone thinks of it and would only share it with the closest of people
who may have a mastermind with.
It’s hard but not impossible. What is absolutely amazing is to witness
the inability of people to think or even want to think for themselves
and to blame others for their inability to do so. Some people absolutely
refuse to think for themselves! Look around It’s not just trading of course.
Now these trade rooms are definitely scams but there would be no market
for them at all if people took the time to use what they already have- a brain.
This site does a wonderful job of exposing both the fraudsters and the victim mentality that follows.
I will worry if the day arrives that the scam rooms are no longer making $$ and people are no longer complaining about them. That will be the day when my edge disappears and the time when people think for themselves.
But I will be president by then and you will all be in chains so it won’t matter lol.
So far we have seen two kinds of rooms. 1) complete sham rooms that fake spreadsheets and results and do sim or fake trading on screen. They haven’t touched a live account for years as evidenced by the cftc reports in the reports lately, just as I’ve suspected. 2) “breakeven” trading rooms where no way they can make a living from trading but they can put on a show for newbs trading so small, or limited sacrificial account where even just losing a small amount per month is considered realistic breakeven struggling trading.
You wont’ ever see a trader who makes a consistent living trading for over a year. They have no incentive to teach or put out a trading room for the public. They would only teach a few significant others at best. To make a living one needs to make at least 150k a year with expenses and the new president Hillary taxes on retail trading. But you’ll never see statements from any vendor showing statements for even one year.
CFTC Charges, Open Range Trading LLC, with Commodity Trading Advisor Fraud – CFTC case: http://www.cftc.gov/PressRoom/PressReleases/pr7465-16
CFTC Charges Schooloftrade.Com, with Fraudulently Marketing Commodity Futures Trading Strategies and Systems – CFTC case: http://www.cftc.gov/PressRoom/PressReleases/pr7464-16
CFTC Orders Advanced Trading Workshop “ATW”, Inc. of Jamesville, New York, to Pay a Total of $940,000 in Disgorgement and a Civil Monetary Penalty for Solicitation Fraud and Failure to Register – CFTC case: http://www.cftc.gov/PressRoom/PressReleases/pr7453-16
TradeMasters USA, LLC with Fraud and Failing to Register with the CFTC – CFTC case: http://www.cftc.gov/PressRoom/PressReleases/pr7429-16
CFTC Orders “Shadow Traders” to Pay a $140,000 Penalty for False Statements to the CFTC and for Not Disclosing that Profitable Trading Results Were Based on Hypothetical Trading – CFTC case: http://www.cftc.gov/PressRoom/PressReleases/pr7253-15
I’m glad those scammers are finally busted. Great job Emmett! I mentioned your excellent work in my latest article – https://steadyoptions.com/articles/schooloftrade-another-guru-busted-r218/
These guys really have some balls. Faked like I was trying to sign up yesterday and they were pushing the $5,000 course. Then accused me of being another site. I was surprised to see that they were still trying to sell the courses after landing in hot water.
Asked for statements and they said “they could not release at this time.” I was almost waiting for them to make up some BS about not being able to release because “they were in an investigation.” They were really pushing the course. When I brought up the civil suit they told me to call the office so they could explain, but did not want to type it up. I put a link there and asked if they had traded and they suggested that it was all hot air.
WOW!!! They are digging their own grave!
Isn’t it amazing? Still selling and pushing this crap, even after the CFTC filing.
I can tell you from personal experience that when I was running my boiler rooms, I got cease and desist letter from State investigators and they went right into the trash can. The only thing that stopped me was being raided by the FBI and arrested. Criminal prosecution is the final stop. It appears that Joseph and Meghan are “dead-enders”. They are going to keep scamming until the handcuffs bind their wrists and they are lead to the cell block.
When I am elected president I will get these pasty guys..the notorious ones in trading education with over five years of revelling in this game…into the hardest most violent California prisons with hard blacks and Mexicans so fast your heads will spin. On my first day in office I will indict the unrepentant and retroact laws making their past behaviors felonious and they will be talked about in prison like they are pedophiles. I’ll get live streaming from the prisons to broadcast the events in 4K pixels and multiple angles, slow motion replays, transmitting this corrective action worldwide and throughout the galaxy. The video and these reviews will be buried in time capsules for future civilizations to discover and learn our newly evolved ethical values. Disclaimer.I am not implying any of these future criminals are currently in violation of any current laws.
Does your plan involve building a wall anywhere?
What will they get? 2 months of community service maybe, the CFTC has no teeth hence why there’s a small country worth of these scammers. Your case was in the hundreds of millions from what I read so you would of been a big fish but a couple of million here and there is not a concern
Same with WarriorTrading Ross scameron. Only will be stopped handcuffed by the FBI away from the keyboard which he only touches to control the sim screens and mic. The hands don’t move when entering and exiting trades as someone noted before they reacted by moving the webcam away from the hands at a different angle.
So what is it going to take to get the feds o their trail. These scumbags could use a good few years in the graybar motel. I for one would be up for a plan to put these shit heads where they belong.
NT response on BMT / futures io
“Improving how vendors are listed and continually audited has been a high priority project for us over the last few months.”
Man, was that good for a laugh. They do no vetting!! How about asking those con artist to actual show a brokerage statements proving they ever made a live trade; more less trade profitable. NT will never vet any of these scammers as if they did they would have no more educational partners.
No vetting whatsoever. Its not in their interest.
Scammer sells BS trading systems, BS trading room, BS trading indicators, BS educational services. But in order to make it all work, the victim has to purchase a copy of NinjaTrader and open a trading account with NinjaTrader.
And then, after the CFTC, SEC, or FBI busts these guys, never a mention of NinjaTrader. Going to keep on writing about it.
I remember that horrible broker mirus who had either college teens or yelling blowhards at the front desk when zenfire was imploding, taken over by ninjatrader to become ninjatrader brokerage. Sadly, it seems I have to prepare to move away from nt and code up my settings and indicators on another platform if the day comes where the feds go after Ninjatrader for their ecocesspool and they shut down everyone’s nt platform who paid for lifetime ownership.
Recent NT Forum threads on EcoSystem:
Emmet, Ninja Trader left this post to you on the thread at Big Mike’s about the School of Trade Scam.
There are a lot of inaccurate statements about NinjaTrader being construed as facts in various articles published at tradingschools. Emmet, I know you are listening…Your website is void of your contact information. Can you kindly reach out to us at firstname.lastname@example.org, reference this post attention to John. We want to ensure that what you write about us is accurate.
Ninjatrader is pretty crafty these days. Now the list of educators in the ecosystem only show up in a search instead of a page with links. Not how vendors are just called part of the “ecosystem” when before they used to be called “partners”. Someone said they never heard of SoT? Emmett is correct in saying they used to be a partner.
Yep. The web archives don’t lie. The recorded histories of the Ninjatrader Ecosystem/Brokerage contain a swamp full of shady hustlers.
While the competing brokers and platform providers have kept things much cleaner. I have lost track of how many upset brokers have contacted me and begged that somebody write something.
The platform and technology providers have suffered as well.
My lord, just last week NinjaTrader Brokerage/Ecosystem promoted a webinar for a guy with some nutty “auto-trader” system. Did NinjaTrader vet this guy? The guy is selling bullshit that can only be used through Ninjatrader Brokerage. Hey NinjaTrader…here is a novel idea…before you promote these guys, why not ask for some sort of proof that they are even trading their own product? The investing community should be outraged as the irresponsibility of NinjaTrader.
bery, bery good, what kind of penalty could they get? fines or jail or both?
Emmett I don’t see my comment posted why?
This is one example of why it’s important to have review sites like tradingschools that show the truth of how hard retail trading is. Having seen what a former vendor said it’s all too easy and tempting as a retail trading vendor to stop trading live and coast along on fake and sim results especially if they are a good salesman or marketer and able to sell dreams and put blinders on newbs. I had contacted vendors in the past where I was assured they were using live accounts only to realize it was all a sim sham. There was a post on elite recently where the guy claimed he worked at a hedge fund and said his firm would never give away or sell a working method even for a million dollars. We continue to hear where a trading “school” claims they were threatened under “extortion” to pay a fee for a good review. when it’s more like Handley ~phdmsmbajd who defends his grand tetons who paid a fee to be in the mountain range , then recently tries to look legit by being harsh on Felton.
If someone’s boasting of their educational credentials that should immediately be a red flag. Dr Handley, Dr Brooks, etc. If they are suggesting they switched careers and can prove that they are making a living trading then that is different, credentials are ALWAYS used in place of evidence of trading success by these guys. Even Duchefresne probably had a framed G.E.D. in his office, LOL.
These trading room operators are brilliant criminal masterminds. I am embarrassed how long it took me to figure it out. That was before this site. They have their fake testimonials, there fake results and then have their shill screaming how they just made 20 ticks on 3 car on that last CL trade that you took and lost money. All fake. The shills are just the TR operator himself. And they all sound so sincere and caring. It really is a brilliant scam.
I tell you a true story, I was in a room and the TR operator made a call that just lost money. I then in the little text box stated, “that is not where you said to enter” and he just uses the mic to bully and has his shill (himself) post ROB B must be smoking something. And then shills post how much they made on the mysterious trade that was not even the trade he called. Everything to make you believe it was somehow your fault.
In fact it is so brilliant that the people being scammed think it is just there fault they cannot trade the method profitable. Something is just wrong with them. After all the TR operator and his shills are hitting it out of the park. So they just disappear and never even post a negative comment. I know as I Skype with these people and tell them it is not you, the scum bag TR operator could never trade profitable in the first place.
That was before Sheriff Emmett came to town.
Look in the past I have at times been critical of Emmett, but prior to him there was absolutely no honest review. Even BMT who claimed to be so honest and ban vendors allowed scum bags like Al Brooks to give Webinars.
I am not an advocate of the death penalty, but for TR operators I think we should bring back tar and feather and I am talking boiling hot tar.
“Even BMT who claimed to be so honest and ban vendors allowed scum bags like Al Brooks to give Webinars.”
Cant wait for Doctor Brooks,MD to get exposed..his fraud has been going on for too long..
when you start review on him make sure you point out his last name and its not Brooks lool..i see a big can of worms from this one
I agree, BMT is a potentially dangerous place for new traders. In fairness, there is a lot of good advice from Mike and others such as don’t scalp, don’t try to trade for a living unless you have a very large account, don’t trade futures in a 10k account, etc. It’s also good that he keeps rude behavior out of the site. But there are some significant problems for a site that is pushed as a ‘different kind of trading forum’.
First problem is that despite banning rude people he always allowed people of poor ethics to remain part of the community, folks like Jaguar Trader Ed, Vince Virgil, MFBreakout to name a few. Mike was a former “student” of Ed so he knew the guy wasn’t what he claimed to be, yet he allowed Ed to remain and continue pulling more new subscribers from BMT’s ranks. Some operated as “stealth vendors” on BMT, posing as successful traders and taking in money under the table from interested users or by launching a subscriber site once they built up enough following on BMT.
The other problem is he brings in all these vendors to give webinars and none of them have been vetted in any way. Some of the webinars are good and provide value. Others are absolutely useless and dangerous… all talk and theory and perfectly marked up hindsight charts. It paints a false and misleading picture of what trading is really like and what kind of returns a trader can realistically expect.
Who are you- and who is Big Mike to tell people how they should trade? Do not scalp- Minimum account size etc.
Scared money aside – account size is the business of no one except the trader.
Why should people be forced to trade and believe in certain
ways? Why do some of the bigger names on that site get a
pass for not following Big Mikes advice?
FT71 and jigsaw for example. People need to learn their
own method and style of trading and work within their own
mental and physical constraints.
It is not your or Big Mikes business to make those decisions
for them. If you have horrible psychology and need to hide
away in some shit hole country then perhaps- yes you need
a huge account to make up for your weak mind.
But just because you have mental weaknesses does not
indicate that everyone suffers the same dementia.
So it is unwise for you to speculate on the behalf of others.
Worry about yourself -but don’t shadow others with your internal weaknesses.
Some people trade much better with smaller accounts and by scalping. You may not be able to accept this fact- But it’s
something you will need to get over.
The acct size stuff comes from the many noob traders who show up with 10k to their name, ready to quit their jobs and trade for a living. In that case I believe Mike is doing them a favor telling them to forget making a living for now.
Fair enough on the scalping, you have a point. Short term or long term is a matter of preference.
I agree completely that one should not be
trading with scared money- Trading capital is
all risk in my book. We never know when
our broker may be the next MfGlobal or
If you need to trade to put food on the table
then you are absolutely correct – Get a job
because psychologically there is no way
you will win in the market.
But Big Mike and his cronies criticize others for their style of trading because they are different than his. He has to control the narrative.
As you pointed out with the AMP lawsuit it displayed perfectly his inability to control risk.
A person with solid psychology of risk management would never have let that lawsuit
become an issue.
It proved beyond doubt the serious head issues Big Mike has and is unfit to trade. IMHO.
There are many things BM does I disagree with such as allowing vendors and con artist to do webinars without vetting them. But if everyone that jumps off a bridge dies then BM certainly might warn them that is not a good idea. And if every underfunded person that thinks they will make a living by micro scalping CL bust there account, he certainly has a right to warn them. I am sure he knows a lot of them.
You say people can decide for themselves. Who says they cannot. But people also need truth information to make an informed intelligent decision. And this is an industry is nothing but liars and scammers. Day Trading Room Operators and their shills that post fake results, BM that give legitimacy to con artist by allowing them to do webinars, NT saying they vet there vendors (what a joke that is), invest-o-scam u where fake testimonials are posted and Lying Dr. Dean publishing articles in magazines while his endorsed trading rooms are being filed with criminal fraud for being a complete scam like Open Range Trading. And Gosh I did not even touch on Top Step and that scam which Emmett exposed. How can anyone make an informed decision about Day Trading in this mist of all the false information being spewed?
You have better odds of making a living betting on the horse, playing BJ in Vegas or playing the Powerball than you have of making a living by micro scalping a highly volatile highly leveraged instrument like CL with a $5,000 account using 500 to 1 leverage. So I guess that puts me in the BM camp.
If you look at what you just said it describes why so many people fail.
Everyone is looking externally for
the answer to trade. Everyone
wants to get the answer from
What if the perfect method was
inside you ( assuming you have
People keep searching outside
for answers that are inside. As long as you do this you perpetuate the real issue of not honoring yourself- and you will never succeed in trading.
Trading requires you to be bold and to do the things that are uncomfortable. If you follow someone- anyone- you are already behind. If you follow Big Mike you are already lost. lol
I agree with this post, but when people are being told complete nonsense trading by trading rooms and shills and others, it becomes hard to know the truth .vs the fantasy. I have written about this many times.
And I am the only one here that I aware of that has stated I will show my brokerage statements to Emmett showing profitable trading if and only if he gives me a thread where I talk about the reality of trading .vs the fantasy world the day TR present.
One person responded to one of my post saying so you are saying the turtles are not real and am I saying swing trading can not be done profitable.
Absolutely not. I trade profitable. So that is non sense. But the Day TR teach complete nonsense to sucker people into trading a fantasy world. They teach you to trade white noise. And anyone encouraging people to do that is clueless about trading and never has made any money doing it.
I have also stated if I had the time to deal with all the fake brokerage statements I would get, I would offer an open challenge with an prize to anyone that can show they can trade the nonsense way the TR teach. I would outline the rules they teach which include:
1) You can trade a highly leverage highly volatile instrument such as CL,
2) You can do this with some small account like $5,000,
3) You will have an 80% win rate,
4) You will have virtually no drawdown,
5) You can come in everyday rain or shine no matter what the market condition and take numerous scalps in CL every single day,
6) You will have a straight up Equity Curve and
7) And you can quit your day job (with no other source of income) as you make money every day trading like a salary. Day after day, week after week, month after month, year after year
Yes Crooked, I say that is nonsense and if BM says it is nonsense I agree with him. And worst the amount of time and energy and money you will lose trying to do it, could have paid for a college education.
You manifest your beliefs- Plain and simple. There are people who trade small accounts profitably everyday and have for years. Some of these same people have been funded with large accounts and blown them.
Likewise on large accounts. Everyone is different there is no one who determines who is right.
People get what they want from the markets. Despite what they say.
“There are people who trade small accounts profitably everyday and have for years.”
Who said there are not. You bring up general statements. I am being specific to what the day TR teach.
I do not have to jump out a window and try and fly to know it cannot be done and warn others you might not want to jump out that building with out a parachute.
There is enough evidence to show what they teach is nonsense.
As I have stated many times I am a full time investor that includes Real Estate. I can show you Real Estate investors all day long that can show actual proof of their profitabilityI .
Yet no one can show proof of the claims these Day TR teach. NO ONE!!!!!
I remember when Emmett was demanding 3 months of proof. Gee in his last post he asked for 1 month of just BE. How low can the bar be.
Crocked Hillary, I say you are as crocked as the real deal. I can not prove one cannot fly. The person that can fly needs to prove it. You say what these TR preach can be done then prove it. It is that simple. Show you brokerage statements to Emmett proving it. Do that and I will eat crow. But you have to show the claims made by these TR as I posted earlier are true.
Go ahead I am waiting.
Do you have any evidence to suggest an individual’s beliefs determine or are highly correlated with their trading success?
Sorry to keep you waiting I have had appointments all day. Beliefs and ideas are everything not just in trading but in life.
You may think this is all BS and that’s fine. I post for some who it may resonate with.
Let’s talk about physical death:
When you die a few things happen.
1. Your body becomes a flesh salid for various bacteria maggots and vermin
2. Your Pure consciousness ( Beliefs/thoughts) separate from
your physical body
3. Your false or little self ( Ego) separates itself from your pure
At this point realize who you
thought you were all this time was
your ego or your false little self.
You may also realize the formula
given to every person granted a
physical life and this is important
because it explains why some
people managed to accomplish so
very much with so little and others who were given so much
accomplished much less.
Here are the formulas:
Pure consciousness ( Beliefs/thoughts) + Emotion +
Action == Creation of originating
Creation begins with thought and beliefs and are important.
This is the secret defined in 1 sentence.
This is also trading in the zone.
Ego (Little me) + Pure
consciousness ( Beliefs/thoughts)
+ Emotion + Action == Something
other than the desired
The Ego putrefies the equation.
This is where the majority of
people live their lives.
This is the space where most people trade from.
How can any of this be proven?
Well that’s a tough call but it is one area where I think all or most religions agree.
All spiritual teachings of
enlightenment ultimately point
towards letting go of this “little me”
(Ego) entity in your human consciousness – this is what
the Buddha meant by “no self, no suffering”, this what Ramana Maharishi meant by saying “let go the self” or what the upanishads stated as – “the self is an illusion”
what Jesus referred to when he said “it’s easier for a camel to go through the eye of a needle than for a rich man to enter the kingdom of God”
(by “rich man” he was referring to
the negative ego or the little me
entity that is trying to sit in control,
by “kingdom of God” he was referring to the wholeness/intelligence of your being).
In fact when you understand this pointer, you can read any spiritual teaching and see that this is
the essence of all the teachings.
You should note a common thread within all my posts- and that is my belief that our thoughts need to be
our own and that we should not try and interrupt or control other’s thoughts. We are responsible only for ourselves. If others like our creations they certainly should be free to join. I also am not a proponent of other training rooms –
Why focus on someone else’s thoughts when you are free to have your own and are the source of creation.
And of course trading forums like Big Mike where he tries to tell
\you how to think- what is right.
The biggest sin of them all in my book of beliefs.
In short I don’t give a damn how
you trade and you really should
not care about how I trade.
What is important to me ( the most important) is the integrity of the beliefs and to recognize
when the ego wants to control the show.
Once you have the process you can apply it to anything- Trading is just such a challenge that it
brought the discovery to me.
The important thing is that beliefs can be changed- Emotions are tied directly to these beliefs.
Performance psychology is about catching those beliefs in the moment and changing them. You don’t need to know their origin- You only need to be aware of them and once you replace the beliefs the emotions change automatically.
Some beliefs are so ingrained they will take years to remove or even identify. All of these can be traced back to your early upbringing and tied back to a parent or siblings.
So you need to create a trading system with the belief you can do it. You do it by doing the work
you try different things you challenge yourself and you follow your ideas. You fail a lot.
You keep what works and throw away what doesn’t. You learn to trust yourself because you know you are just as good as
anyone else out there.
If you get thoughts that tell you you are not then you identify those thoughts and you release them.
It’s a long process. You keep going down a long chain of your life works of shit you have been through until you have some form of cleanse.
But in the end you honor yourself and your thoughts because on the
day you die that is the only thing you get to take with you- and if you help others along the way
you get to take some of that with you to I guess 🙂
You are welcome to your thoughts and beliefs as I am to mine.
I will follow my process and know I can apply it to anything I desire. The psychological portion of trading has been the most rewarding thing to me in my life.
The only message I ever try and communicate here is to guard and cherish your thoughts because they are what counts.
And of course after a while it’s very easy to see the space where people are speaking from.
Thoughts and beliefs are things
and now you know why and how it works.
I do not think I will be very controversial, when I say that was a unique post.
@ Crooked Hillary I use to live in the rain forest (for real) in a commune (also for real) and your post reminded me of a guy I gave a lift to one day. He spent 40 minutes telling how he knew that the Earth was a transitioning base for aliens to travel to other worlds and dimensions. How did he come by this knowledge I inquired of him. He saw it with his own two eye when he was on an LSD trip. Lay off the green buddy.
Ha Ha Sorry to disappoint I am a beer type of guy. Your rain forest experience sounds like a great one.
LSD has been used as a shortcut to enable ego death. My equations indicate without ego involved one may apply clearer thought with emotion for the benefit of creation.
If my theory is correct and if LSD is indeed an ego eliminator then perhaps some of the most creative minds of our time have used it?
Any of these names sound familiar?
Beatles- Eric Clapton- Ray Charles- Chris Farley- Jerry Garcia – John Belushi – and of course- Steve Jobs.
Now I would never condone taking drugs but it would appear that the theory I presented stand with some pretty good company.
If you investigate Watson and Crick you will likely learn their discoveries using the theory I presented ( without drugs).
The largest advances in any field are often made not by those with the greatest experience- They are made by the people with the greatest beliefs that the advance can be performed with an equal ability in themselves.
The funny thing is I agreed with this stuff about ego and beliefs from Mark Douglas years ago when I thought I had a chance to make a good income at day trading. I now realize feel-good beliefs don’t alter the concrete reality of competing with superfast computers. Emmett must review Mark Douglas posthumously, it’s appalling how his wife rushed some notes to publish multiple kindle books at Amazon after he died to make money, clearly altering beliefs didn’t let Mark Douglas conjure that ATM which the market is supposed to be once you “master the market”.psychologically.
I was not going to comment on the feel good nonsense as I am already fighting with enough folks.
I know people that have paid Trader’s Psychologist hundreds of dollars an hour thinking that is their problem.
Is Psychology a factor. Obviously, but not the major issue. The major issue is these TR are teaching non sense. That is why they can never show any proof. Not some other BS reason they give.
First you have to stop the non sense trading the TR are teaching. That is the first step to recovery. But even when these a-holes scammer get charged by the Govt for fraud, people still want to believe them. It truly amazes me.
I don’t care how positive you are or what every other words you want to use, you are not magically going to fly and you are not going to with some small $5,000 account make a living day trading CL via making many micro scalps each and everyday. It is nonsense Pure and Pure. I am still waiting for anyone to show proof. Yet people do not care that not a single person, NOT ONE can show they can do it for any extended period of time. At best they point to a single trade.
Man I should post this anomalously, I already have enough fights to meet my monthly quota.
Well, Dan Zanger verifiably turned 10k into millions in a year day trading in the 90s, it can be done. The markets are fully automated now though so you can’t do what he did anymore. so he makes a living as a vendor in need of a review as well as Mark Douglas and Al Brooks.
Yes and someone one the Powerball also. In fact more win it I would say. Most of these folks took a wild shot on something hot or did it during the NASDAQ bubble when everything just went up and up. I read one of these guys did it by betting it all on cocoa futures or something like that.
As I have said it can be done for short periods or during the NASDAQ bubble. The funny things is a lot of these people who do it just lose it all back. Look at Larry Williams. Do I need to say more.
So most will burst their account and spend thousands of hours trying to do something that 1 in a million luck out and do. I do say luck out because even when you trade white noise their is a Gaussian distribution. Eventually as time passes all fail.
But I should be clear. I am talking about trading the way most TR teach which I have outlined before. Not swing trading when you are properly funded.
Have you read some of Emmett’s latest post. He originally asked for 3 months of prove and now I have seen him ask for just one day of proof of live trading. And they still can not even produce that.
This is industry is fully of Open Range Traders and Sideways Markets. All con artist.
BTW, did Dan Zangler actual Day Trade the way the Day TR teach you to trade or does he swing trade stocks? There is a HUGH difference. Someone must have the track record of his Zanger Report to produce the actual recent results.
Gosh, 2 seconds after my post I find this. Just as I expected bought high flying internet stocks during the NASDAQ bubble. Lots of people did that and they then lost it all in the bust. This is not my idea of wise investing. But that is me.
You two are the original misery Brothers. I was going to respond with something positive but it’s quite interesting to watch you wallow in your own misery.
If you spent 1/2 the time looking for ways to positively change instead of all the time you spend today in misery you might actually get somewhere. lol.
LSD perhaps? What have you got to lose??
Let’s get right to it and take a look at some effective strategies to become miserable. This list is by no means exhaustive, but engaging in four or five of these practices will help refine your talent.
1. Be afraid, be very afraid, of economic loss. In hard economic times, many people are afraid of losing their jobs or savings. The art of messing up your life consists of indulging these fears, even when there’s little risk that you’ll actually suffer such losses. Concentrate on this fear, make it a priority in your life, moan continuously that you could go broke any day now, and complain about how much everything costs, particularly if someone else is buying. Try to initiate quarrels about other people’s feckless, spendthrift ways, and suggest that the recession has resulted from irresponsible fiscal behavior like theirs.
Fearing economic loss has several advantages. First, it’ll keep you working forever at a job you hate. Second, it balances nicely with greed, an obsession with money, and a selfishness that even Ebenezer Scrooge would envy. Third, not only will you alienate your friends and family, but you’ll likely become even more anxious, depressed, and possibly even ill from your money worries. Good job!
Exercise: Sit in a comfortable chair, close your eyes, and, for 15 minutes, meditate on all the things you could lose: your job, your house, your savings, and so forth. Then brood about living in a homeless shelter.
Okay- That’s it for me- I’ll check in from time to time to see how the Dynamic Duo is doing and any new rants they have come up with
to color their existence.
Keep up the good work guys – You will soon be able to lower the energy and prevent the thinking of many more!
I think Stray Dog nailed this one.
Your comments are so far out there I cannot even respond. I cannot even understand what you are saying. Maybe it is an age generation thing. Is this the way young people talk now-a-days.
BTW, I am not miserable. Spent most of the day working on a rehab and the other time mostly talking to people in Florida checking if they and their family where safe.
Only takes a minute of my time when I am the computer to pop in here and respond to post. As others point out I do not even take the time to spell check.
And I know this is hard for some to understand, but my harshness about TR is a warning and not out of hate. The whole industry is full of con artist. If you do not realize that by now nothing I can do to help. To me I report the truth about TR as I have experienced. It is not angry to me, just what I see and how I see it.
Let me guess your favourite movie and band.
1. Grumpy Old Men.
2. Clockwork orange.
3. One flew over the cuckoo’s nest.
Here’s a link so you can get some help.
WOW, what a great post.
They should look at color therapy also. Must be challenging seeing everything from the darkside.
I agree with you that having a positive attitude is more likely to lead to success or at least feeling like you’re successful than a negative attitude. It’s also likely to lead you to enjoying life more. And it’s better to feel positive going into a trade than not but that in and of itself won’t determine whether that trade or the trader is profitable. Personally I think the psychological advantage comes from having a solid reason for entering the trade and a plan for managing it and exiting it. Mark Douglas “Trading in the Zone” – had some truths in it but over all it was real “hand down your pants” stuff and a waste of money. I mean if all I needed was a positive attitude to be a rock star trader I’d wear crystals on my head, turn up the new age whale and dolphin songs on the computer and turn the aroma therapy vaporizer up to high.
I am going to expand on this- I do not disagree but there is much more to it.
Emotions and feelings are ALWAYS coupled to an underlying belief.
Road rage as an example- Someone cuts you off- Requires you to make an evasive action perhaps. You feel the emotion of rage throughout your chest. You may react to the emotion in a hostile way.
If you were to observe the trail of that emotional feeling you would discover it is attached to a belief. It could be that the underlying belief is that the person believes the other person performed the act intentionally and that person is less deserving of yourself to walk the planet.
So you can pump up your emotions – go to a Tony Robbins seminar and feel great but it makes no change because the beliefs have not been touched.
If you use one of these trade rooms you never build a belief because you were never part of creating the method.
Back to Mark Douglas- I agree his material is weak at best- It is however a start. But if you design a method yourself you should have a belief in it and you SHOULD FEEL GOOD when you execute it.
That is all well and good – Here’s the problem- We all make mistakes. So when you make a mistake and you are not following your plan what happens is you are now in uncharted territory- Similar to someone cutting you off in traffic. Your emotions kick in and they are always tied to a belief!
You have no idea what this belief is! But you are in that emotion and your trade plan is now out the window. Without any psychological planning and training you are in a hopeless situation. This is the hardest part of trading IMHO.
One needs to be able to identify their mistakes quickly and recover emotionally from them. The problem is in the heat of battle one never recognizes the problem and you are basically in a bar fight.
I have seen the majority of the professional trading psychology info and most of it is really weak.
I have learned to break the pattern- Here is an example using road rage. When someone cuts me off or does something stupid on the road I used to get pissed off like everyone else. My view now has totally changed. It happened just today in fact- I was cut off in a parking lot I felt that original ” You are an idiot” feeling come over me.
I then caught it and immediately felt grateful for observing it. Then instead of honking my horn or giving a dirty look or a finger- I smiled and I waved to them.
They gave an embarrassing look and waved back. Try this a few times and then try it with trading. It’s better than any trading
psychological book in my opinion and places you in the moment where you need to be.
No need for the crystals and dolphin sounds- I will share with you that there are people who have very quiet minds and very small egos.
I am not one of them- But I have a coach that has natural abilities to attach to collective consciousness.
Similar perhaps to your LSD buddy but without the LSD. He views things everything as energy. He can view your energy from
anywhere in the world and tell you what events in your life has
shaped your ego to be what it is today.
He knows nothing about trading but when I ask about my method he observes against the collective and can tell me info that assists me
to re-enforce my beliefs. He is a modern day Edgar Cayce.
The bottom line is this: The ego is the veil that separates us in the physical from the spiritual. Your friend I think showed that to you.
One does not need to be a fully spiritual person to benefit to trade. However being aware of this veil gives you perspective of who you are and what is ultimately of most importance.
In trading what is important? It is your method- Your method is your own system of excellence and beliefs.
When you wait in excitement for your setup to deliver itself you honor your beliefs and yourself.
When you recognize you make a mistake – you admit it and move on
quickly you walk with the hand of god onto your creation.
Try the road rage exercise I mentioned I invented this (ego talking) and I believe it works better than any trading psychology book you will ever find. If you apply it to everything else mentioned – specifically to recognizing your mistakes in the market it can totally transform you. And you paid Zero for it.
I will get paid back with Karma. 🙂
So in summary:
Build your method – honor and trust it. Believe in it.
When you make a mistake recognize it as a pattern- disrupt it
use the road rage exercise to start.
It’s difficult at first then get’s easier and easier. When you are done you are achieving peak performance.
Hey Crooked, That’s another excellent post.
Please, folks. No need to vote it down just because Paul writes it.
That really was an excellent post from the Crooked One, albeit a bit overly mumbo-jumbo pop psychology. Once one gets past the pop psychology stuff, that is the real truth about trading.
Ultimately trading is simple.
1. Find your own path and faithfully follow it.
2.Ruthlessly cut your mistakes, and leave the hopium in the bag.
3. Never stop seeking to better your trading.
Absolutely you can have a belief and call it pop psychology – No worries there.
Here is a video describing my view
of pop psychology and how
Beliefs- and emotions work together- In this case to heal someone with cancer.
Sorry in advance for being so un-insightful, but his is what come to my mind.
Maybe pass on the next Colorado vacation.
Huh? Nobody has ever managed to diagnose a case of MaryJane poisoning or overdose.
Just another weekend at Rob’s place lol.
I thought this can’t be Rob’s place, everyone’s too happy, then it went to custard around the 1minute mark.
@Rob, Without going too far into it I would say the above screencast is more than likely a reflection of your miserable , negative personality.
I understand Paul you are living in the fantasy land, but one day when you actual take a trade you might make up.
In the mean time I gladly will continue to warn people of shill and the TR you promote.
Nobody is going to argue that having a positive attitude in life is a good thing. But when it relates to trading rooms what I see far to often is that term being used to replace using one’s brain.
I talk to trader’s who go from one con artist TR to another and when I say did that TR show any proof what so ever they can trade their own method profitable, far too often the reply I get is, “I want to be positive”.
I do not care how positive you are trading the fantasy that these TR teach will never make you profitable.
But I do agree with you about trading another system will never work for you. You have to know what you are trading and have confidence based on your own stats.
Always remember, Whenever you point a finger at someone you always have 2 pointing back at yourself. If ever you decide you don’t want to be a victim – you might find that investigating the psychological side is the only thing that will help you.
Here is a video that may help explain the journey or at least why you can’t pump yourself up with bullshit and expect positive results.
You need to think- Obstacles are there to help you achieve your goal.
“Whenever you point a finger at someone you always have 2 pointing back at yourself.”
Wouldn’t there be 3 fingers pointing back.
Normally I can respond to almost any post but your insight (see I can be nice) is way over my head.
Maybe the Stray Dog can understand.
At least 2 fingers- How’s that ? Sheesh- Your comment is revealing. lol
Sorry- This is over your head. Nothing I can do about that.
Apparently you also did not realize that Stray Dog threw a big soft ball
with his earlier response only
proving my theory that you don’t understand.
He likely understands now very
well. But I would love to hear more
of his commune lifestyle and living in the rain forest.
I get the feeling if we only discuss things you understand it will be a very short and boring conversation.
Maybe you should get out more?
I have no response except I think you would be shocked at all the places I have been. I was an Air Force contractor in my youthful days. Been all around.
Best of luck in your trading.
Joseph Douchefreshe and Gal Brooks have created a positive reality through convincing themselves they are helping and educating people with one hand while reaching around and snatching their cash with the other hand. Emmett took down this punk Douchefreshe in 2015 leading to the SEC involvement, Gal Brooks will probably run for early retirement when the aftershocks from the Douchefreshe lawsuit and when more is revealed.
As i explained it is how life works.
Beliefs are what emotions are created from and when adding energy creation is formed.
So- If you believe you are unworthy at your core – and you do something that opposes this your subconscious will change things to match the core belief in your subconscious.
Losing $$ goes to the core of very survival. When you lose money you are losing much more than just money- It may represent every bad thing any embarrassing thing that ever happened to you in your life.
Everyone has their own set points
I will make one other point. I can only say what I say do to this site.
Before if you even mentioned a TR was nothing but smoke and mirrors you were immediately blasted by the shill saying you just did not spend enough time or know what you are doing.
Yet now one after another is having charges brought against them.
I am sorry and I know this is hard to believe for people who are desperate to believe in the fantasy, but this whole industry is nothing but one big swindle and I am slowly but surely being proven right.
Yes you can luck out for a short period and there was a time during the NASDAQ bubble you could do some of the things the TRs preach, but not in Today’s market.
Good honest discussion on bmt. We don’t have to stoop to “tradingloonies” personal vendetta aginst bm, yet it’s hard to find a public popular blog/foum to freely voice what many surely feel about bmt. I’ll just add before one would often get warned or even banned for talking the truth about these sham vendors. Now folks are able to post about vendors more freely on bmt/fio most likely thanks to Tradingschools’ proven legitimacy and support by the watchdog authorities, and the fact that bmt has moved offshore to panama and ecuador. bmt “advice” has long been doubletalk. Advised not to scalp yet there is a prominent bmt vendor jigsaw that promotes orderflow scalping, the smallest type of scalping. The “climate” is about sharing, yet hilariously no one shares any true trading edges unless they are disguised or aspiring vendors or doing hindsight journals daily for some other reason. Trading psychology is the answer to all trading i.e. the guy who wrote the “38 steps” of trading on bmt became a magic black box vendor himself. Yet averaging down is hardly criticized even though it’s the number one reason most all retail trading fails. In fact the “top traders” on bmt do it all the time. One of the only helpful things imo I found on bmt are the “free” indicators only downloadable with elite membership when before there used to be a basic download area. There are fine contributors to bmt indicators that other scam vendors took and tried to modify to sell on their own indicator stores. One could use and learn to modify the indicators from FatTails and other great contributers , tweak and experiment and come up with their own system.
Can Big Mike even trade or is he all mouth and forum?
finally some questions for real proof:
As a long term BMT member, I can tell you it is mostly Kool-Aide drinking individuals looking for that Holly Grail system and a few Rock Star Journals with ulterior motives such as being RIAs who then offer to invest money or offer training on the side.
The members seldom ask the most important question of all and that is, “Can you show a lick of Real evidence your method can be traded profitable?” Because they do not want to hear the answer.
I asked that very question on one of those Fake Rock Star Journals a long time ago and the “BMT Heros” blasted me for daring to ask for proof of their claims. And then the member was able to ban me from posting in his journal for just stating the facts. Unbelievable!!
The good news is a few PMed me saying they agreed with what I was saying.
Before this site there has never been any place to tell the truth about these Con Artist. And that is none absolutely none can show proof of their claims.
That is why it is 1 star rating after 1 star rating. The day Emmett finds a Day TR that trades the fantasy world they teach people to trade and shows proof of profitable trading and gives it 5 stars is the day I drop dead from “SHOCK”.
Another thing about Big Mike is that when he was sued by AMP he was asking the forum members to pay his legal fees for him. He had a donation link and kept updating it as the total money raised increased.
I couldn’t believe that despite the fact that he and no one else was responsible for the disagreement with AMP, and he and no one else was reaping all the income generated by BMT….. that he didn’t think he should be responsible for any of the legal defense fees.
What or who is BMT ?
You must be knew to trading. Big Mike Trading now called futureIO or something like that.
Been trading for about 20 years – You must be “knew” to writing English.
You are correct. My spelling when typing fast is horrible. I will take that as a thank you for informing a 20 year trader on who Big Mike is. BTW, I also typed this fast and am not going to spell check. Sorry!
Eye red yore post Rob Bee and it makes cents two me, know worrys.
LOL! when Chuck gets to be my age he will be lucky to still be alive. But I must admit I wish I had taken a typing class in my day.
But I do not wan to distract from the real issue here and that is how not only these TR are all run by con men, but how there is an entire network of support for them.
Are we suppose to believe NT (that is Ninja Trader Chuck, LOL I should not make fun) and BM and everyone else does not really know what is going on. And I will include some of the brokers in that same category. All feeding off each other to make money.
I forgot to mention invest-o-scam you where they can post all their fake review.
Exactly. Sykes investi-scammu where all dissenting posts are blogged won by shills or the vendors themselves. They thought they could get away with it for so long. There were only honest review comments scattered about in obscure threads in various forums. TS seems to be making history become a central review crux where folks can finally come out. Emmett made a good point in his recent review where ironically 99% of folks who were duped by these trading shams are too embarrassed or discouraged from even coming out about it because it was typical to be derided and told you didn’t learn or practice long enough with the room, indicators or method long enough, or it’s all your fault and proof from the host doesn’t matter. TS, the “alex jones” of the retail trading scam conspiracies.
You made me laugh out loud, SD
Don’t worry Chuck, you will always get negative insults and putdowns from Rob B. It helps him to feel endowed..:)
“In fact it is so brilliant that the people being scammed think it is just there fault they cannot trade the method profitable. Something is just wrong with them. After all the TR operator and his shills are hitting it out of the park. So they just disappear and never even post a negative comment. I know as I Skype with these people and tell them it is not you, the scum bag TR operator could never trade profitable in the first place. ”
This sounds identical to how Big Mike himself operates futures.io
He will set the narrative- and you must follow his direction. He knows all.
LOL. He will tell you how to trade- how to think and how to act. Put up a journal so that you can draw more subscribers to him and then he and his shills can pick you apart if you do not fall in line with his ‘house rules’.
To many people are giving Big Mike a pass – I think he is as big a problem as the Ninja eco system and likely a very good reason he is registered in a banana republic. If you were to compare the TR’s to drug dealers Ninja Eco system and Big Mikes would be the king pins. Try giving some heat to Big Mike and see how long your account lasts. LOL.
@ Crooked Hillary
I hear you man.
It is a shame because there are some really good people on there. The majority of the red badge ‘Market Wizards’ I respect.
They have decent things to say and are usually receptive to PMs.
Moving FIO to Panama means he can’t get sued, but shame on BigMike to promote Al Brooks (and others) without a shred of fucking evidence he has ever traded in his life.
That is a classic BIgMike narrative change if I ever saw one.
It has actually been my experience on that site that the majority of ” red badges” are anything but Market Wizards.
There used to be a few really good traders lurking in the background making real $$ who would contact people privately behind the scenes if they were on the right track.
There were only a few- but they left quite a while ago.
It’s not just the $$ you lose it’s also the time. Big Mikes is the biggest waste of time- In respect to that it is the biggest sham of them all.
The exception to this is Fat Tails.
And yes I agree about FT.
So Sad, averaging $60k per month selling their fantasy crap to people who never checked if these self-proclaimed traders ever made a live trade in their life.
This story just echos what I keep saying. It is not just this room, but all the trading rooms. Yes all of them. I use to say 99% of them. Now I think 100% of them. If you can make $60K a month or nearly $1M a year selling pure fantasy non sense to people and they are willing to buy it, then how can any real vendor survive.
And I do not just blame them, but I blame the entire network. Like Hillary said it takes a village. The whole network is corrupt from NT allowing these con artist to put on webinars to the fake testimonials at investo-scam-u.
Yet, Emmett as I write this people are still giving other con artist running the same scam their hard earned cash. It is amazing how smart P. T. Barnum was.
Excellent job Emmett. You are the man!!!
No doubt NinjaTrader is a good platform/software but people need to understand that the company is using its popularity/credibility to make more money by being advertiser or recommender for anyone who pays them.
People need to understand that if someone is good in developing/getting developed good software does not mean that person would be good in trading or good in recommending about trading.
This reminds me of trade-ideas. Same is the case with Trade-ideas (i think you mentioned somewhere you would be reviewing them ), they have a good piece of software/scanner & it ends right there.
Having ability to develop or get developed good software does not mean higher ability/knowledge of trading. nor having a good platform or scanner (i.e a good software) guarantees any success in trading. These days they are promoting/ having webinars on various trading educators/rooms like Cyber trading university, Top Dog etc. It looks like their aim is to take money out of people’s pocket/fleece whatever way possible.
Register for Class Action Lawsuit
thank you for the update.
He was not busted, hehas already been sued and has lots of complaints as a rip-off conman since 2010 or earlier, well before TS. I am surprised by how much money he makes from “trading education” though. Perhaps fellow Cali bro Al Brooks is paying off his daughter’s ivy league student loan debts with his JJ-like sales skills?
Who knows if Brooks (not his last name by the way) even has a daughter…im questioning everything by that slick “doctor” with fake deep-bass- voice
His daughter ( reportedly ) went to Harvard Business School, which is in the middle of the price range for top schools and 50% of students get financial aid. NYU Stern is about the same as HBS, but you would not bring it up if she went to Stern..
Joseph James is the head-trader and educator at SchoolOfTrade. Known to his students as ‘Professor JJ’, he is well-known in the industry for his unique style of teaching, trading, and price-action analysis. JJ, as his friends call him, specializes in intra-day trading of Crude Oil, the E-minis, Gold & Euro Futures. Joseph’s network of traders & clients cover all corners of the industry and reach more than 95 different countries. Replace Joseph James and J.J. with Al Brooks and Al and I see an identical match…am I the only one who sees this?
Pete, that has nothing to do with my comment. We know you don’t like Al Brooks. We get it. Please stop. Make an argument, not just a contradiction.
Quoting Monty Python, “Argument is an intellectual process. Contradiction is just the automatic gainsaying of any statement the other person makes”
My argument is clear and it is relevant to the Al Brooks dicussion so I replied to the discussion. My thesis: Al Brooks and Joseph James share many similarities in their trading-education business…yet Al Brooks has a cult following of pretentious and semi-sophisticated aspiring traders, unlike J.J…why the double standard?..Why is Al given a free pass unlike J.J.? Clearly Al uses more sophisticated marketing techniques than J.J. to hook clients and I believe they end up blaming themselves due to the cult-like manipulation tactics.
Hmm, Man you are obsessed with Al. Everyone of these Day TR are similar IMHO in that they are all scams. I guess the difference is in degree and blatant they are. Easier to catch criminals who state they trade live and show completely false results over ones that are murky and show nothing like Al. Even hard to go after educators that sell a system that no one could ever trade profitable, but hard to prove that.
I’m tired of the negativity from regular posters here directed towards me. Tell the people who have been complaining about Joseph James as a ripoff since 2010 on Ripoffreport.com and those who sued him that they were obsessed with him and should have just gotten over it, so idiotic and hypocrticial.
Have to have a thick skin on these message boards. Try and not takes things personally.
I get attacked a lot as well. But sometimes it’s fun to be attacked. Learning to enjoy the negative attention.
I will be your friend!
So you decide to pick apart my post when I’ve particularly haven’t been on your case about Brooks prior where I just happened to voice my own thoughts about Brooks in my response to CrookedHillary. Like I should get some burn for mentioning Brooks too just because you do? real nice.
I am disputing the assertion that Brooks is analogous to a researcher and more observant and skilled than Joseph James. IMHO Brooks is myopic and obfuscatory as part of the sales pitch, however School of Trade daily videos show Professor J.J. is more skilled than Brooks with daily analysis, if you compare the details to those mentoned on Professor Brooks’ blog. P.S. this is not blather but fuel for the inevitable Brooks review..the guy is still riding the gravy train, Vegas Traders Expo next month, need the review ASAP.
School of trade videos is more skilled than Brooks? Dufresne is complete con malarky, a circus act. I’m willing to bet JJ and Megan have done more financial damage to duped clients than Brooks has. Whatever your opinion nothing changes the fact that Brooks does a room for the whole nyse session, writes up a daily journal anaylsis without fail since 2010 and puts out voluminious books. Most all other cons take off after an hour or so of a room. As I said, I was being sarcastic and making a joke how he could pass as a professor at a college. You’re not the only one who has been through the Brooks rigmarole. Sure I agree on the obfuscation, the bad writing, etc. but Brooks works on his craft like some kind of deluded professional while JJ and other cons pull off their stunt with a lot less effort.
I’m looking forward to the review as well to see if Emmett can shed any light why Brooks works so hard like a researcher to perpetrate his sham.
Brooks’ daily predictions derived from analysis on his blog of the EURUSD and ES is more often wrong and vague “Bulls want a major trend reversal. Bears are expecting a pullback and trend resumption” compared to J.J.’s daily analysis. It’s easy to underestimate how much damage Brooks has done to people, just because he charges much less than SoT. Blown accounts and his professional indifference were ubiquitous in his trading commentary room and on on Futures.io as he boasts of terrible trading tacics.. adding to losing trades, using wide stops and claims to be profitable nearly every day while never risking much capital.
Brooks room is just another available resource for learning. If you can’t read his book you buy his video course. If you can’t study his video course enough times and want live learning you join his room, but you need to be in it for at least 6 months to understand what he is saying. If you think you can trade based on his commentaries you are wrong. Your edge is small when you are at your best and you must have no distractions when trading, room will just disturb you. I have studied trading for 2 years now and the only thing i have learned from SOT is that i have to learn from Brooks. It was wery hard and i like it this way because it is the hardest profession. I love Brooks!!
If your edge is small when you’re at your best then there’s no way you can trade for a living, as Brooks claims to, with the high income tax on futures income, commissions, data and fee expenses. Brooks can lie and claim he trades for a living to manipulate new traders and be given carte blanche because of his social status, sexual orientation, and the fact that he is less dishonest than Schooloftrade? Where did you learn your ethics, girl scout’s camp?
You are now just randomly posting Al Brooks hate post. Do you have this automated where you automatically post about Al Brooks every 2 days or so.
And they say I do not have a life.
Are you suggesting that Al Brooks’ unsubstantiated claims of day trading for a living are highly probable, making my assertation that he is lying qualifies as “hate” and that I am lying not Al?
We all know Al Brooks is a Con Artist and we all know your view from your first 1000 anti Al Brooks post.
But at some point when you post again and again Al Brooks this or that in every single thread it gets to be, hmmm, what is political nice way to say it.
I will be nice and just say you are a bit over obsessed.
Jesus looking at all the people Emmett conned. He made Al Brooks look like Mr. Rogers. Why not post anti Emmett post every 10 minutes.
Hey Pete, it’s been a few days since you made an “I hate Al Brooks” post. I was beginning to wonder where you were. Have you been sick? On holiday? Or just quietly seething away until you reached boiling point? We’re going to have to start calling you “old faithful.”
This guy is a dangerous lone wolf who will be unleashing his fury on the Vegas Traders Expo. A lot of innocent people will come limping out of that Expo and suffering from pain where the sun don’t shine for years if no review is published to stop this wrecking ball known as Al Brooks.
All roads lead to The Vegas Traders Expo Thursday, November 17, 2016. Room. TBA. All roads lead to Al Brooks.
I’m glad I live in countries that have strong restrictions on gun ownership. Better stay away from Vegas everyone. You need professional help Pete.
The pain from Brooks’ teachings will hopefully decrease once we have a review published. I hope the good folks in Vegas will not follow our path of torment by following this guy’s dangerous teachings.
AlBrooks looks like a stand-in for Mr.Rodger’s ‘hood. If he let go of his falsettobaritoni, lol.
Who the hell is Pee? How many post have you made? If you’re Pete then you’ve got to face the fact that you’re letting Al Brooks screw you over multiple times. Once when he ripped you off with his price action course and room fees and every day since then because you are obsessed with him. Seriously dude, how much money was it and is it really worth this amount of aggravation?
Yeah, take MTPredictor for example. Those clowns still post videos claiming their software is catching the tops and bottoms of the market. Of course at the same time failing to tell you about all of the losing trades it triggered too.
The problem is, they hide behind “context of the market at the time” and of course the classic “plausible deniability”. MTPredictor software is a pile of rotting horseshit that they keep pumping and presumably people keep buying.
So yes, I agree it is hard to go after educators that sell a system and/or software that is not profitable because the bozo’s at MTPredictor blame the trader, blame the context of the market, but never the software…no never ever the software.
And I might add that in MTPredictor’s latest video, they have added a ‘Disclaimer’ to the header, highlighting that everything in the video should be considered hypothetical and no trades were actually taken.
Hey, you, yes you the Google searcher looking for a review on MTPredictor. Do you get it yet?
good point about MTPredictor. They’ve gotten a free publicity ride for far too long. Just clean enough on the web, and the right dosage of black box mystery. No trial before you buy. Most people who bought into it are probably shamed by it, and with no recourse except shill so called review sits like investiscamma, keep their thoughts of the scammy software to themselves or try to justify the exorbitant purchase occasionally showing screenshots of “trying to make it work” on bmt. Al Brooks is more the intellectual type of smokescreen. His voluminous work of his books and journal is like a researcher compared to SoT’s Dufresne’s clownish hawking. Brooks could be the first professor of price action at a university if they ever had a department and classes on retail trading. why not, Sykes has been already doing “symposiums” on trading at places like harvard/mit. Put it alongside the social studies depts.
Actually I’ve found numerous contradictions, misuses of language and poor and muddled reasoning in Al Brooks’ books. I think Wiley saw his credentials (if they are real) and saw a money maker.. It’s remarkably verbose and substandard writing and exposition for someone with his claimed educational background.
Not all researchers are the best at writing prose. Brooks does have his own hard to read jargon and contradictions ie. “failed flag”, “failed failure”. . He and Miner are two of the most dogged chart scribers ever seen in the sham vendor world. They are far from being a circus entertainer like SoT so have to work harder at mumbo journaling to keep the newbs hooked. .Brooks claims he makes next to nothing off his books but he has a livable monthly churn of forty or so average number of members in his room. The dept. of sham trading and blather at some obscure state tax funded college.
Brooks is not a researcher and the content of his writings and his reasoning processes is just as weak as his prose. Read John Murphy’s and Edwards and Magee’s earlier and voluminous wriings on price action and it will be clear Brooks how unoriginal Brooks’ for-profit “research” is.
My main point of my post was Brooks was like a researcher with a plethora of material written and I was being sarcastic about him being a professor. Of course it’s been talked ad nauseum about how his writings don’t make sense and how price action authors decades ago did it first. I’ve wasted enough time on his books and don’t need you blathering on about things former Brooks readers already know too well.
You’re doing really good work Emmett, keep it up. Geezs you don’t get much of a home for 1.7 mill in Palos Verdes Estates. Check out picture 31. Is that our dastardly duo?