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  #10 (permalink)

Pretoria, South Africa
Trading Experience: Intermediate
Platform: Sierra Chart
Favorite Futures: CL, ES
Posts: 5 since Jun 2013
Thanks: 7 given, 1 received

Franz Shoar of Bullseye Traders is a liar, a thief and a coward

Hi guys,

I suppose it's easy to blame the unwary and the newbies after the fact, and claim banalities like "a sucker is born every minute", and some such like, however, having been taken for a proper ride by this thief Franz Shoar of Bullseye Traders myself, I can sympathise. When one is desperately looking for knowledge, one's reasoning unfortunately tends to get somewhat blurred by one's desire to see what one wants to see... :-) In the end, what tripped me was that the owner Franz Shoar allowed the members of his Bullseye Traders room to PM (private message) each other in the room directly. Having spent MANY weeks and months in quite a number of various trading rooms before that, this is basically unheard of, as every single post of every single member who had already paid for membership to any room is strictly screened, and members are generally not allowed direct contact with each other (for obvious reasons, lest there are "discrepancies" with the claimed room and/or guru performance and the members' real results, etc, etc.) But in Bullseye Traders room this was allowed, so I thought this was different... Boy, was I na´ve... Again... :-) All the claimed "best night time trading school in the world", "the best ES trading results" and such like "accolades" are complete and total unadulterated crap ! So, to save the unwary and the aspiring traders the pain of anguish, as well as the loss of joining fee of $6 500.00, here are my true experiences with the Bullseye Traders scam:

After I joined and have thoroughly learnt the material, I started trading one of my live accounts in the overnight trading on automation. In the end, I lasted just under six months and can report the following FACTS:

This "trading room" has one moderator, named Sharokh, who is generally a rather nice chap, who "trades" DEMO account only on his TradeStation, and projects same openly in the room. Apart from Sharokh, there is a "computer programmer whiz" called Randy Billings, based in CA and employed by Bullseye Traders, who created the Bullseye Traders system automated trading software for MultiCharts for overnight trading, which use is encouraged by Bullseye Traders, for obvious reasons. It turned out that the said "software" - when I signed up and purchased the membership package - was not capable of trading more than a single contract of ES (!!). I know this because I was the first person ever to report to Randy Billings (the computer geek), that on a few occasions my automation software did not fill my order correctly and/or adjusted the stops/profit targets correctly for the partial fills. On hearing this Randy was stumped and didn't provide an answer for a good few days, eventually telling me that this "problem had never happened before" (!!), which means that no one had actually ever tested and/or actually traded this system with any serious amount of money in their live account to trade more than 1 ES contract (!!). Having chatted to a number of other members of the room via PM, I've quickly established that they were predominantly newbies and either trading SIM or a single contract. I apologize for the long-winded post, but please keep reading...

Every trading day, at around 08:00 EST when the trading room is opened for moderation, Sharokh would post "official" results from Franz Shoar in the room for the overnight session, with "claimed" fills, over 70% of which were hardly EVER filled in my automation, as the profit targets applied in this system use strictly limit orders, and as any trader worth their salt knows, NO limit can be considered filled, until and unless the price actually trades through it, especially in the ES and especially in the Globex (overnight) session, when volume is rather thin. So Franz (the owner/the "trading guru") would give Sharokh (the moderator) the alleged fills for the overnight trading session, and Sharokh would then routinely post said results in the room, and when other member of the room or myself would object and say that we never got filled, Sharokh would either PM each one of us independently to take it up with Franz or, on a few occasions when the protests and discontent from the members of the room was quite intense, he would say, after a considerable pause, that yes, the members are actually right and so-and-so trade was NOT filled, and therefore a so-and-so trade was a loss, rather than a previously claimed profit. This would happen to maybe 10% of all claimed "filled" for profit trades. The other 90% in dispute would just be posted on Bullseye Traders' website at the end of every month as profits...

After a few days and even a few weeks, one is willing to give the new methodology the benefit of the doubt, especially seeing as one is always under pressure to "stay the course" and "to not give up" etc, etc, but after months go by and I (and other members of Bullseye Traders) invariably see losses of 10% to 20% or more PER MONTH, while Franz Shoar, the person who I (and other members) trusted to be our mentor and placed our faith in him and paid him for the education, posts on his website the "monthly results" showing profits of +50%, +85% or even higher "profitable returns", this eventually gets to even some of the most tenacious and patient people on Earth !! So, eventually, after sharing my REAL LIVE money account results in the room, one day Franz Shoar just kicked me out of the room and banned my access username and password !! Can you believe this ?? I've immediately sent him a stern but polite request via email to refund the $6 450.00 fee that I'd paid him, as he had clearly not fulfilled his obligations in terms of the contract (that they make you sign when you join), but I've never ever heard back from him, ever, not a word...

Guys, I put this down to my own tuition fees and gaining experience, but please, anyone, ANYONE considering joining Bullseye Traders, do yourself a favour and save yourself the six and a half grand and DON'T waste it ! I have been there myself and done that, this is not some disgruntled competitor putting another educator down. I have every single statement from Global Futures to prove every single trade that I've taken on automation overnight trading from beginning of January 2013 till about July 2013, when I was kicked out of the room and denied access (and obviously stopped trading this losing system). So any prospective client contemplating joining Bullseye Traders is welcome and, in fact, ENCOURAGED to contact me via PM, so I could PROVE to you, upon request, every single claim that I've made above, with cold hard facts. I have the exact truthful results of my own personal real live money trading account, as well as numerous emails from other disgruntled members of Bullseye Traders to substantiate all of the above-mentioned points. In fact, if there are any other members of Big Mike Trading Forum who have been cheated and taken for a ride by Franz Shoar and Bullseye Traders, we should seriously consider a joint-class action against this scam-artist and a thief. Franz Shoar is a coward, and Bullseye Traders "system" is a total scam, and I would openly say this to Franz Shoar's face in front of any witnesses, as well as in a Court of Law in front of a Judge ! By not keeping silent and actually sharing these outrageous facts and truths, we could perhaps one day turn the tide of unscrupulous "educators" plague, who cannot trade to save their lives and instead choose to con aspiring traders willing to learn out of their money !

On a more positive note, I would like to take this opportunity to cordially thank Big Mike for making this Forum available to traders from all over the world, and to advise other members that - as embarrassing as it is - the only thing that I regret not doing is joining this Forum earlier in my trading carrier, so I could read others' experiences and save myself a fortune in cash and aggro before signing up with thieves like Franz Shoar of Bullseye Traders ! Thank you very much Big Mike and God bless !

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