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Larry Levin's Secret of Traders (www.tradingadvantage.com)
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Larry Levin's Secret of Traders (www.tradingadvantage.com)

  #21 (permalink)
Market Wizard
Cleveland Ohio/United States
 
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karentrader View Post
I've never seen a trading site that *wasn't* run by a snake-oil salesman. The ones i've seen are not traders, but people looking to make a full-time income by promoting the idea of trading via courses, seminars, products, and the like. With that being said, trading schools site is a joke. ex-con who essentially blackmails marketers. asks them to provide their financial information to him as a 'proof of trading success' and if they don't comply, he posts that they are all fraudulent and don't trade.

Wrong.

If you have any questions please send me a Private Message or use the futures.io "Ask Me Anything" thread
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  #22 (permalink)
Market Wizard
Cleveland Ohio/United States
 
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karentrader View Post
I've never seen a trading site that *wasn't* run by a snake-oil salesman. The ones i've seen are not traders, but people looking to make a full-time income by promoting the idea of trading via courses, seminars, products, and the like. With that being said, trading schools site is a joke. ex-con who essentially blackmails marketers. asks them to provide their financial information to him as a 'proof of trading success' and if they don't comply, he posts that they are all fraudulent and don't trade.

It is really simple:

LEGIT PROFITABLE VENDORS

1. Get a statement, redact personal info, and send it. Or get a legit auditor/accountant to certify the trading results. Profitable educators should be eager to prove their profitability, to separate them from the snake oil pack.

2. Sue Emmett for incorrect defamatory/libelous review. The thorny part of this though is something called "discovery," where the educator would have to disclose trading results to the court to prove his case. In the end the truth would come out, and for profitable legit educators, this should not be a problem.



NON-PROFITABLE VENDORS, SCAMMERS, ETC

1. Ignore the review, hope it goes away, or hope that people do not see it.

2. Invent all sorts of reasons why real results cannot be provided. I know of many educators who claim it is illegal to show trading statements - 100% not true. What is even more amazing is that people believe these excuses. They want to believe in the "dream" I suppose.

3. Have shills, clients, or aliases bash the site or Emmett, to distract from the profit question.



Rather than trading schools being a"joke," I see it for what it is - a site that has saved many people lots of money. The only people who hate the site are the scammers and their fans.

If you have any questions please send me a Private Message or use the futures.io "Ask Me Anything" thread
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  #23 (permalink)
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burlington, vt
 
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kevinkdog View Post
It is really simple:

LEGIT PROFITABLE VENDORS

1. Get a statement, redact personal info, and send it. Or get a legit auditor/accountant to certify the trading results. Profitable educators should be eager to prove their profitability, to separate them from the snake oil pack.

2. Sue Emmett for incorrect defamatory/libelous review. The thorny part of this though is something called "discovery," where the educator would have to disclose trading results to the court to prove his case. In the end the truth would come out, and for profitable legit educators, this should not be a problem.



NON-PROFITABLE VENDORS, SCAMMERS, ETC

1. Ignore the review, hope it goes away, or hope that people do not see it.

2. Invent all sorts of reasons why real results cannot be provided. I know of many educators who claim it is illegal to show trading statements - 100% not true. What is even more amazing is that people believe these excuses. They want to believe in the "dream" I suppose.

3. Have shills, clients, or aliases bash the site or Emmett, to distract from the profit question.



Rather than trading schools being a"joke," I see it for what it is - a site that has saved many people lots of money. The only people who hate the site are the scammers and their fans.

I must be a scammer then.
Great logic.

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  #24 (permalink)
Market Wizard
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karentrader View Post
I must be a scammer then.
Great logic.

Exactly why do you think that site is a joke? Why is asking an educator for proof a bad thing, especially when most boast about how much they make?

If you have any questions please send me a Private Message or use the futures.io "Ask Me Anything" thread
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  #25 (permalink)
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Boise, ID USA
 
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TradingSchools


karentrader View Post
I think you missed the whole first part of my post.

And yes. How dare he. He is a convicted fraudster who will then have access to sensitive, personal information. Legit or not, he loses all credibility if he states 'they won't comply to him'. If you received a random phone call from such a person asking for your broker statements or he'll publish a scathing review, what would you do? Personally I'd get his site shut down, but maybe that's just me.


I am confused as to why anyone would want Emmetts site taken down. I can't imagine how much money he has saved people from wasting buying into the "trading is easy learn to trade with me and quit your job and get rich" game.

There are well over 1000 charlatans in this game and from what I gather, 99% are con men and women. If they could do what they say they could do, there would be million opportunities for them rather than hustling the next sucker.

If I saw someone bragging of 80% to 80% success or saying I can earn X amount per day on Y contracts, and this is what they were promoting, why would I NOT ask for proof?

If I was looking for bids to get my kitchen remodeled, and someone bid $20000 and they were the lowest bid and bragged how amazing they were, but I could find nothing on any review sites, and they provided no references, there was no BBB on them, that I would check out despite my requests, or no former employers to vouch for them etc, and they wanted $6000 upfront to start the work, would I go with them?

Of course not.

When I read Emmett's reviews, he talks of what he goes through to try to interview these folks and what happens in those attempts and the excuses they make. It all sounds perfectly real to me.

I have NO REASON AT ALL to doubt what he is writing. I don't think anyone could be more forward and transparent of their background then Emmett is.

If I was one of these fraud vendors that was being taken to task by Emmett, I would have a dedicated page on my site and post it ON Emmetts site because he doesn't delete posts, PROVING Emmett wrong and making him look like a fool. It would be awesome advertising. No one does this... Gee... I wonder why?

Very happy with Emmett's site. I don't think he keeps up with it as much as I would like as some of the good reviews are probably not so good anymore - vendors crash and burn - with some of those vendors but other than that, I doubt he is getting rich on banner ads

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  #26 (permalink)
Trading for Profit
Pittsburgh, Pennsylvania
 
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karentrader View Post
I must be a scammer then.
Great logic.

Why, are you selling something? And yes, Kevin is right and you are wrong and you couldn't even come up with a decent argument.

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  #27 (permalink)
Elite Member
Chicago, Illinois
 
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iq200 View Post
As an example Al Brooks has a very bad rating on there also.

Sent from my iPhone using futures.io

Cuz hes a SIM trader.
In fact hes a SIM trading hero.

Around 5% move the market. 10% try to follow the 5%. The rest provide liquidity.
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  #28 (permalink)
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Nassim

I put here a quote from the latest book of a great former trader Nassim Nicholas Taleb - Skin in the Game: Hidden Asymmetries in Daily Life:

"Never trust anyone who doesn't have skin in the game. Without it, fools and crooks will benefit, and their mistakes will never come back to haunt them."

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  #29 (permalink)
Market Wizard
Chicago Illinois USA
 
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OMG

typed a huge detailed response for this thread and lost it. Can that be recovered? If not it will have to wait till the afternoon. Dang it!

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  #30 (permalink)
Elite Member
Madison, Wi
 
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Trading Advantage didn't work for me. Huge drop out rate. Will not repeat that mistake again.
Do not sign up to be a lifer. He pissed off a lot of people with that.
Pat has a personality that is abrasive to some people.
Aggressive sales dept.
When I was there the trading platform was a train wreck.

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