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CFRN.net / insidefutures.com trading room legit? (Christian Financial Radio Network)
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CFRN.net / insidefutures.com trading room legit? (Christian Financial Radio Network)

  #21 (permalink)
Elite Member
Washington
 
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tturner86 View Post
These guys are jokes. They are trading SIM. I sat through two weeks of their trade room. Utter and complete junk. They have no understanding of the market and what is really driving price. The trade off their indicators which are lagging and not worth the $3k they charge.

These guys make me even more sick as they fly under the Christian banner. They are just another group of people trying to rob you using whatever label suits them best.

I also have sat through a few days watching them "trade". I never saw them have one tick of slippage on any of the many trades they made. Once they said they use stop limit orders to get in. Once they said they use market orders to get in. Once I saw the head trader Michael say he got in at a certain price when price jumped 4 ticks in 10ms so he couldn't of gotten in with either a stop limit or market order at that price. A few times I saw Michael say he got in "early" which meant he was probably front running the others in the room (if he was really trading live) and that might be why he goes to B/E at + 4 ticks. Michael goes over the trades he did in the CFRN afternoon program and calls it the "recap". He points out what trades he missed (which is a lot of them for every market he trades). He mostly points out the winners and skips the losers or said he would of been breakeven on the trade. Hardly ever admits a trade would of been a loser. He puts his "trades" in a spreadsheet. If he was trading for real he could use something more realistic I would think. I don't know much about the software he uses to trade with but you would think it would track the trades. They could use Ninja but they don't. I wonder why not? Because Ninja would track the trades. CFRN is also listed (at least in 2014) as one of Dean Handley trusted trading rooms. Most of the 2014 finalists have been found out to be frauds. Also, when they try to get you to sign up they dangle the "partner" trades in front of you implying that these trades are the good ones but they only trade the slingshot trades in the room. The partner trades are all counter trend trades of which none are taken in the live room. If you look back at their videos on Youtube you will see they have changed their indicators many, many times. Or at least added more and more to the mix.

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  #22 (permalink)
Trading for Fun
san antonio, tex
 
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CFRN uses Open E-Cry. To make a report of the trades: main page, click reports, positions, and order management, Gross p/l summary. You can export it via pdf, excel, or CSV. Even I know that!

So if I were Michael and Dewayne, I'd be mad as a hog without slop! And I'd refute your accusations by posting the Daily Gross p/l Summary.

But why bother, enough people get caught up in their religious rapture of how quick, easy, and rapturously profitable their trading method is. After all, Michail and Dewayne are preachers.

Is there any trading room will post its >>>daily gross p/l summary<<<??

"Dangling partner trades". couldn't have said it better!!

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  #23 (permalink)
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Another thing CFRN does is they tell you to trade for a $100 a day goal and then stop. And then after you make 2k over so many days/weeks you add a contract to increase your size. But, usually they take 2-10+ trades to make that first $100 goal. They mention in their recap if you made $400 that day and paid $8 a contract (who pays that much?) and had 20 trades you would make $240. If you paid 5$ a contract you would make $300 for the day. BUT when they talk about that first goal of $100, sometimes like I said you might have to make 10 trades to hit that $100 goal. At even 5$ a pop you would then only make $50 that day. They don't mention that at all.

They also "dangle" the thought of making it up to trading 10 lots and tell you how much you would be making if you were trading 10 lots. With beans, oil, Russell 2000, natural gas and gold you could have slippage trading 10 lots. They don't tell you that either.

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  #24 (permalink)
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>> Michael also uses what looks like a non-lagging ma in addition to the 21ema.


It is a 21 period HMA

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  #25 (permalink)
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aircal View Post
>> Michael also uses what looks like a non-lagging ma in addition to the 21ema.


It is a 21 period HMA

I'm pretty sure it is a 20 HMA.

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  #26 (permalink)
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twitter alerts

Then there are the twitter alerts. DeWayne will go on and on for days about how profitable his Japanese Yen alerts were. Now the Swiss Franc that had 2 $100 profitable trades, and 6 hard stop out $100 plus losses, he doesn't talk about that. If you doubt me, then look it up! May21,2015 trade day gave two 8 tick plus trades and 6 minus 8 tick trades for the Swiss Franc twitter req's. And another thing, you have to stay glued to you monitor for the whole day to get his theoretical results. Some of the alerts were signal with only one bar.

He is a little better than other shysters out there. Is there any trading service that isn't?

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  #27 (permalink)
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Old thread, but worth updating.

I bought my CFRN membership in early 2014, and have extended my room "privileges" up to this point. Prior to buying in, I took a couple of free trials in their trading room. I have been trading ES, NQ and CL futures for eight years, with moderate success. Trading is my primary income source.

I judge it unfair that Michael and DeWayne claim that anyone can make the same money they make while trading their methods in or out of the live room, and that members (partners) should be making a thousand dollars a day using the methods taught to partners. I have not seen it come to pass in my own trading of their methods, or in the trading of other CFRN members I have met in person.

To their credit, my own backtesting and real-time application of their methods have found the results right at breakeven, not losing. So, over time of proper and literal application, one could expect their account balance to stay roughly where it began, rather than blowing it up. This is better than the run-of-the-mill systems with trading rooms out there today. However, this is not what I signed up for.

Some partners have used the CFRN methods to improve their own systems. Some have even derived new systems from little-used aspects of the CFRN methods, with success. Again, that is not what I paid for.

I do not question Michael's room performance. However well he does for himself, I simply find the performance to be unrepeatable as claimed. This may mean that he is simply a superior trader with a lesser gift of teaching. When one pays real money to learn and apply that which has been demonstrated to be profitable, one expects to reproduce that profitability. Disappointment is a forgone conclusion when, after much diligence to replicate the conditions and apply the methods, in sim and cash, live and in back-testing, such profitability is simply not there.

I do not doubt the sincerity of Michael or DeWayne, but their mild exaggerations of income potential and high expectations of anyone signing up and diligently using these methods, is simply not realistic. I have met several other partners in person away from related training sessions and meetings, and after comparing broker statements with mine, I conclude this opportunity is not profitable for most experienced traders.

Their refund policy, for the membership and extended room privileges, is simple: No. This is why I have not discussed my dissatisfaction with them, notified any other partners that I know or have become acquainted with, or made any noise in their trading room. To what end would such conversations be, since they have not asked me? I take no joy in calling names or labels. This is about money and at least for me, that is business. It either works or it does not. Black or white. No emotions involved in such judgment. Just like I trade.

Because this thread has the pre-existing interest in CFRN, I wanted you to know of my experience with CFRN. For what it is worth.


Last edited by fcb98292; May 28th, 2015 at 11:11 AM.
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  #28 (permalink)
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cfrn twitter req's for 6a may 28 2015

Dewayne does discuss this aussie dollar alert. But he skips over the time where he had 4 losses ( --$400) in a row, and jumps to 5:30 am edt May 28 2015 where there is a profit.

If you don't believe me, look up the twitter alerts posted may 27 2015 at 9:09 pm pdt. And look up the after market radio show for may 28 2015 and skip to 3:40 in the 4 hour long broadcast.

Am I the only one that checks these things? I must be "the Dan Qualle discovering the grocery store scanner checkout during his VP campaign " joke of the Big Mike's Trading Forum here.

From what I can tell over 20 days and 4 markets, the Concierge Alerts are profitable 1.3 times to each loss. By the central limit statistical theorem, a sample size has to be at least 20 for statistics to be meaningful. Dewayne goes on and on about getting 10 profitable days in a row in the SIM before risking REAL $$$. So he isn't entirely a bad guy.


Last edited by thailerdurden; May 29th, 2015 at 02:29 AM.
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  #29 (permalink)
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fcb98292 View Post
Old thread, but worth updating.

I bought my CFRN membership in early 2014, and have extended my room "privileges" up to this point. Prior to buying in, I took a couple of free trials in their trading room. I have been trading ES, NQ and CL futures for eight years, with moderate success. Trading is my primary income source.

I judge it unfair that Michael and DeWayne claim that anyone can make the same money they make while trading their methods in or out of the live room, and that members (partners) should be making a thousand dollars a day using the methods taught to partners. I have not seen it come to pass in my own trading of their methods, or in the trading of other CFRN members I have met in person.

To their credit, my own backtesting and real-time application of their methods have found the results right at breakeven, not losing.

I do not question Michael's room performance. However well he does for himself, I simply find the performance to be unrepeatable as claimed. This may mean that he is simply a superior trader with a lesser gift of teaching. When one pays real money to learn and apply that which has been demonstrated to be profitable, one expects to reproduce that profitability. Disappointment is a forgone conclusion when, after much diligence to replicate the conditions and apply the methods, in sim and cash, live and in back-testing, such profitability is simply not there.

I do not doubt the sincerity of Michael or DeWayne, but their mild exaggerations of income potential and high expectations of anyone signing up and diligently using these methods, is simply not realistic. I have met several other partners in person away from related training sessions and meetings, and after comparing broker statements with mine, I conclude this opportunity is not profitable for most experienced traders.

Because this thread has the pre-existing interest in CFRN, I wanted you to know of my experience with CFRN. For what it is worth.

I totally agree with everything you say here, I am also a member. You could make some profits here, but it looks to me like breakeven will be the best most people will do. The system seems to be about 50%, sometimes the market works with this sytem, sometimes it does not. It is very dependent on a variation of a moving average crossover, so that is about what one would expect. They make it sound so easy, but it looks like very few are talking about their great results, only a very few.

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  #30 (permalink)
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The biggest problem with this method is that you have to scalp for very small ticks, B/E or take an 8 tick loss. The system or method is simply not design for efficiency, especially when you are using a 4 tick range chart. And you will surely rack up commissions following this method without using proper discipline.

Your average trades will be roughly 10 - 20 plus. You need to make $100 per day but can quit once that amount is reach if you choose to. The biggest problem is finding what truly works for your personality, and temperament or style.

This system works well for Micheal but clearly doesn't fit my personality or style so I don't use it even though I purchased it a few years ago.

Some members have found a way to make it work for them but not all.

This is the drawback of how trading works and until you find what works for you you'll be on another search for some other person's method or style. It's a never ending cycle of searching and coming up empty!

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