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emini trading school (www.eminitradingschool.com) review


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emini trading school (www.eminitradingschool.com) review

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  #31 (permalink)
Legendary Market Wizard
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Experience: Advanced
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https://www.tradingschools.org/emini-trading-school-and-greg-gramalegui-100-fraud/

Helping this investigation was a pleasure!

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"
The CFTC investigated and interviewed several of the actual customers of Emini Trading School and discovered that all investigated customers lost a majority of their Futures trading accounts.

The CFTC also audited the personal performance records of Greg Gramalegui and discovered that Greg Gramalegui never earned a penny trading Futures contracts. In fact, his only proficiency was being a consistent loser.
..

However, in speaking with NFA investigators, the total sales volume of his fraudulent promotional activity is probably in the millions of dollars.
..

It is apparent to me that the CFTC is entering a new era of enforcement activity. No longer are they allowing trading educators to simply ‘copy and paste’ hypothetical disclosure materials. They are now aggressively enforcing the 15-person rule limit and are following leads on even the most minor infractions.
"

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  #33 (permalink)
Legendary Market Wizard
Montreal, Quebec
 
Experience: Advanced
Platform: NinjaTrader 8
Broker: Kinetick
Trading: ES
 
JonnyBoy's Avatar
 
Posts: 1,551 since Apr 2012
Thanks: 701 given, 3,662 received



Cloudy View Post

"
The CFTC investigated and interviewed several of the actual customers of Emini Trading School and discovered that all investigated customers lost a majority of their Futures trading accounts.

The CFTC also audited the personal performance records of Greg Gramalegui and discovered that Greg Gramalegui never earned a penny trading Futures contracts. In fact, his only proficiency was being a consistent loser.
..

However, in speaking with NFA investigators, the total sales volume of his fraudulent promotional activity is probably in the millions of dollars.
..

It is apparent to me that the CFTC is entering a new era of enforcement activity. No longer are they allowing trading educators to simply ‘copy and paste’ hypothetical disclosure materials. They are now aggressively enforcing the 15-person rule limit and are following leads on even the most minor infractions.
"

I am quite sure that many did lose their accounts. Fortunately I was one of the lucky ones. I was only in their room for 3 months back in 2010. Although I had spent the money on their useless indicators, something didn’t feel right to me about the trades. When I confronted Greg about showing his DOM or account statements he got quite defensive and listed off the ‘typical vendor’ reasons why he couldn’t.

But rather than lose me as a client, Greg asked me to become part of their trading team. It appeared I was made of the right stuff to trade market profile. I had no intention to join them of course, but I thought this was a great opportunity to at least see if I could find out if Greg was actually trading or not.

There was a peripheral character (not Giles) going by the name of Bob. He would hang around the room a little bit and talk about his early morning market profile DAX trades. I managed to get Bob’s phone number and we had a long conversation about me joining the team.

It appeared Bob could actually trade market profile but somehow he got wrapped up into Greg’s scheme. We chatted on the phone and he basically told me that Greg can’t trade worth a damn and was erratic at best. My best bet was to stay away. Which I did.

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