How did the company respond when you pointed out the error in their report? Did you give them a copy of your brokerage report showing the real result? It could have been an error in their accounting and not intentional. Hard to tell from your post.
A $66 loss on that size account isn't a big deal. It's essentially break even. That said, it's the client who has to make that evaluation.
In any case, would like to know how the company responded as it seems you made your decision based on the error. Thanks.
Can you help answer these questions from other members on futures io?
False and Misleading Representations Regarding Trade Signal Services
Kirkland stopped trading in options-trading in or around 2012, and never made millions through options-trading.
"Kirkland be, and hereby is:
barred from association with any broker, dealer, investment adviser,
municipal securities dealer, municipal advisor, transfer agent, or nationally
recognized statistical rating organization; and
prohibited from serving or acting as an employee, officer, director, member
of an advisory board, investment adviser or depositor of, or principal
underwriter for, a registered investment company or affiliated person of such
investment adviser, depositor, or principal underwriter."
Well spotted. But just to mention that you have included the "C" from point C in the list making your quote sound like it refers to a C. Kirkland instead of the SEC findings against W. Kirkland (Wendy Kirkland).
You do not win as a trader, you just get to play again the next day. If that game doesn’t appeal to you then you should not trade. Gary Norden
The following 2 users say Thank You to matthew28 for this post:
The SEC decision is worth reading. Apart from being damning on that particular individual, it highlights how a whole ecosystem of trading “educators”, publishing companies and brokers prey on retail investors.
They, too, are trading - the emotions of their victims.
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Thank goodness for futures.io! I just received a brochure from Wendy the "Smoky Mountain Grandma" two days ago, some six months after the SEC action. This is not to say that they are violating the order, because you should see the disclaimers - there are entire pages of disclaimer and many of the pages of the brochure contain large capitalized paragraphs taking up the lower fifth of the page - and if you read these disclaimers they very carefully address each of the claims brought by the SEC.
So apparently the disclaimers are there to theoretically protect them from further action (like more $40,000 fines, maybe ..) , and the entire operation has been changed - now it's just a modest $97/quarter for a newsletter - but the spirit is still there.
The front cover is hilarious in itself - the name of this new product is "ITM" and the subtitle is "Forever in the Money", followed by chart with "$14,453 Every Month". Sheesh. Same tactics, just scrubbed a bit.
Well, I guess everyone has to make a living, right? Still, I'm not a fan of that method. Especially in these times, people are particularly vulnerable to false hope.
The following user says Thank You to owenbscott for this post:
That SEC report is really all you need to read to make a decision about Wendy's programs. I'm surprised that the SEC is letting her continue marketing, selling and making false claims to unsuspecting people. She's an embarrassment to all legitimate investors.
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