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Veritasfuturestrading.com looks great!

  #61 (permalink)
 TheBenefactor 
Pensacola FL
 
Posts: 57 since Jun 2016


prisoner6 View Post
I agree with all you've said. Personally, I've not been able to make money with Bob. I just can't take trades at the high or low of the day, in the direction of the high or low, and be happy with scalping 4 to 6 ticks on a momentum play. Initially, he was shooting for 10 ticks on 2 contracts, but lately, he's been happy with getting 4-6 ticks. He's generally making 750-1100 a day, but that's on close to 20 trades, on 3 lots per. So transaction costs can eat you up pretty quickly. He is very helpful, totally agree with that, and accessible.

He's apparently close with Dr. Dean Handley, as a matter of fact, he has him speaking in the room right now. Dean says he monitors 4-5 rooms a day, and I guess this is one of them.

He will do his best to keep trading until everyone is green for the day. His trials are pretty reasonable. But it is about 300 a month for a quarterly membership. The people in the room seem to be pleased with the results, so you may be as well.

OMG.
Dean Handley?

All he needs now is Jordan Belfort and Bernard Madoff's endorsement to complete the "Veritas."

C'mon people do your homework. One of my functions through the years is being an expert witness at trials regarding money - like you know SEC, NYSE, Attorneys General. Civil and criminal.

I know a lot of the players.

Think about the 4 to 5 rooms per day claim.

There was a civil action brought against Handely by a former New York prosecutor Alex Wasilewski and during the deposition of Handley the claims of "room monitoring" were brought up.

This is the gist of attorney Jose Lorenzo deposing Handley:

JL So Mr. Handley ...
DH Dr Handly ...
JL OK Dr. You claim per your writings and on your web sites that you have monitored over 920 rooms over 5 years is that correct?
DH Correct.
JL Do you have a staff helping you, such as Consumer reports? Someone else who reports to you that perhaps you were not able to verify the performance of such trading rooms?
DH No. I do all the monitoring myself. I don't leave anything to chance. My numbers are based on mathematical statistical analysis. I trust my expertise alone.
JL OK. Let me ask you, do you think it is fair . . . let me rephrase, do you think you can validly analyze any kind of performance if you only spend an hour or even a day in any particular room?
DH Per statistics one needs at least 30 samples to become valid. Not only do I spend at least 30 days of intense monitoring, in most cases I spend 3 months in each room, recording or taking the trades that the monitor calls.
JL Hmmmmm. Let me get my calculator.
3 months per room lets you do 4 rooms per year.
900 rooms divided by 4 equals 225 years to evaluate all those rooms.
So you claim you started evaluating trading rooms when George Washington became President - in 1789?
DH I dont monitor 1 at a time.
JL Well you only have 2 ears. Do you monitor 2 at a time?
DH No 4 most of the time.
JL Ah great. So 225 divided by 4 equals 56 years.
So you began to monitor trading rooms in 1956 when Eisenhower was President?
DH Whatever!

Frauds like Handley and Amico rely on desperate people who want to believe that there is a Holy Grail that will make them rich by following some Pied Piper in a home office trading room, that even when they check out these clowns, they defend the ripoffs.

So sad.

Here is one thing you should all learn. Trading and teaching are two different animals.

Goldman Sachs does not have "Bam bam Bob" calling out trades and then running back to a class room and teaching setups to recent new hires.

Linda Raschke used to trade while her partner then Chris Terry would moderate the trading room and discuss setups etc.

Trader separate from teacher.

I have traded for major financial institutions. I have also taught financial management, including trading.

I DID THEM SEPARATELY. I did not hold a lecture in front of 15 students then say "Hold on the YM just broke below 26807, got to put on a short trade. Be right back."

Treat trading like you would any other profession. Pretend you are going to start Harvard Law School next semester.

TB

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  #62 (permalink)
 jmh13 
Belize SA
 
Experience: None
Platform: Ninja
Broker: Ninja
Trading: DC
Posts: 262 since Jan 2017
Thanks Given: 17
Thanks Received: 129

If you go into a room and you can see the trades that person is taking and you can duplicate the trades and you make $$$ who really cares about anything else. You pay the fee and if not you split?

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  #63 (permalink)
 TheBenefactor 
Pensacola FL
 
Posts: 57 since Jun 2016



jmh13 View Post
If you go into a room and you can see the trades that person is taking and you can duplicate the trades and you make $$$ who really cares about anything else. You pay the fee and if not you split?

It sounds great but real life does not work that way.

The problem lies again that if you put on a trade "YOU ARE STILL RELYING ON YOURSELF."

How is a favorite guru allegedly showing "real trades" any different from any other indicator?

Doesn't your favorite indicator, let's say a moving average, show you when to buy and when to sell?

Why doesn't everyone then learn of a "profitable setup" and all make the same amount of money?

Let's say you take a course by GURU SUPER DUPER TRADER, OR WARREN BUFFET and you learn the rules.

Why doesn't everyone just buy when the "signal fires?"

Your system says go long with a 20 tick stop and a 45 tick target. Why do you get 10 traders with the same system and 8 will lose money and 2 will make a fortune.

Richard Dennis had a system where they bought a 20 day high and shorted a 20 day low. The whole world knew the rules. Why didn't everyone make 100 Million dollars like Richard did until trends disappeared?

I know 3 different people right now who run "trading alert rooms." They all have profitable trades over 75% of the time

When they post a trade about 1 in 10 in their rooms take the trade.

They have done extensive research. Some clients say, "Oh the risk was too big on that trade" or "Why were you going long? The trend was down." etc etc etc.

What happens when your favorite guru calls 2 losing trades in a row?

Of course you skip the third which makes more than the previous two losses. It all comes down to confidence and overcoming the conditioning to losses that we have.

TB

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  #64 (permalink)
 jmh13 
Belize SA
 
Experience: None
Platform: Ninja
Broker: Ninja
Trading: DC
Posts: 262 since Jan 2017
Thanks Given: 17
Thanks Received: 129

I agree with you 100%. There are a lot of scams people and rooms out there but if each person cannot trade they blame the room for everything even if the trades are good but they cannot become successful because of their own issues.
People use every excuse in the book for failed success. This guy was a crook 10 years ago...that's why I cant make money...ect…
That's same goes for Profile the new guru in town, webinars and other stuff that's advertised and promoted on this site and others. People are led to believe its all great but not everyone will be successful using it no matter who promotes it.
I have paid for dozens of rooms in the past. Most were trash, but I did take their trades documented at least a few hundred trades, evaluated it and made a informed decision if it worked for my style of trading and didn't make excuses for not making $$. Honest reviews are great but trashing someone or something without doing you own factual evaluation is ridiculous.

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  #65 (permalink)
 Cloudy 
desert CA
 
Experience: Intermediate
Platform: NT7, various
Broker: various, TDA
Trading: NQ,ES
Posts: 2,124 since Jul 2011
Thanks Given: 2,396
Thanks Received: 1,748


jmh13 View Post
Hi, Thx for your candid , honest review of Gann Edge trading room. People who purchased these program have the most valuable insight to these rooms.
Dr Dean Handley put this room on the Global Trade Titan list as a good room. So I will stay away.

VeritasFuturesTrading has also been on Dean Handley's "Titan" farce list for a long time.

Not to mention: , and
,
,
.

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  #66 (permalink)
 jmh13 
Belize SA
 
Experience: None
Platform: Ninja
Broker: Ninja
Trading: DC
Posts: 262 since Jan 2017
Thanks Given: 17
Thanks Received: 129

Bang, Bang Bob has a new BOT. Anyone try it or check it out. Is it the real deal or a money grabber?

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  #67 (permalink)
 nightangel0203 
Yonkers
 
Experience: Intermediate
Platform: NinjaTrader 8
Trading: ES & CL
Posts: 11 since May 2016
Thanks Given: 1
Thanks Received: 6

Moving avg cross over with time frame filters. Nothing ground breaking

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  #68 (permalink)
 Cloudy 
desert CA
 
Experience: Intermediate
Platform: NT7, various
Broker: various, TDA
Trading: NQ,ES
Posts: 2,124 since Jul 2011
Thanks Given: 2,396
Thanks Received: 1,748

Oh please..

"Veritas Order Entry BOT: $2497.00 (<-- newb "money grabber")
.blah...
No refunds; see no refund policy"


nightangel0203 View Post
Moving avg cross over with time frame filters. Nothing ground breaking

() (yep)

"
Monthly Membership: $397.00
​All morning, afternoon and evening trade room sessions.
Access to member area NOT included in monthly membership.
NO LONGER OFFERED
"
|
|
\/
"Quarterly Membership: $997.00
All trade room sessions.
Weekly live education
Profile and range indicator
Skype room overnight trades
"

"Yearly Membership: $3997.00
..
Includes Veritas Order Entry BOT ($2197 value)
..
Payment plan offered
No refunds; see no refund policy
"




(https://www.tradingschools.org/reviews/global-trade-room/comment-page-4/#comments)

"Emmett Moore

If I were to publish the private emails from very upset people, it would make you squirm with sadness. The majority of these people are extremely nice, very embarrassed and simply want to forget about the horrible experience. People that get hustled in scams are ashamed and embarrassed. The most read quote is, “how could I have fallen for this, it was so obvious."

"Back in 2015, TradingSchools.Org exposed this triple trifecta for what it truly is — a complete and total fraud. You can read our original review about Simon Jousef, Dean Handley, and Bob “Bang Bang” Amico here."


GTR & Dean Handley, under investigation by the CFTC incl. during the period Amico was with GTR

(https://www.tradingschools.org/reviews/the-trader-institute-global-trade-room-dr-dean-handley/)

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  #69 (permalink)
 jmh13 
Belize SA
 
Experience: None
Platform: Ninja
Broker: Ninja
Trading: DC
Posts: 262 since Jan 2017
Thanks Given: 17
Thanks Received: 129

I use a bt trigger lines indicator set to 21/8 with the same indicator on higher time frames for trend filter. If trading 3 min 5,10,15 for filter ect. trading 500 tic, 1000,1500,2000 trend filter ect. I use a simple 100 ma as trend filter. Any coder can code these indicators for a few hundred bucks in you need auto trade. Nothing new, repackaged indicators. Works some times. Diversification in many markets will improve outcomes.

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  #70 (permalink)
 TheBenefactor 
Pensacola FL
 
Posts: 57 since Jun 2016


Anyone considering buying bam bam's robot system can do some good:

Ask for the court information and send funds directly to the fraud victims, who were scheduled via court order to receive restitution.

If bam bam refuses I am going to wait for the Madoff "I am a fibber noce" system designed to break your bank.

Now let's get that rat Dean Handley in Federal prison.
TB

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