Is MasterlineTraders.com trustworthy? - futures io
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Is MasterlineTraders.com trustworthy?


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Is MasterlineTraders.com trustworthy?

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  #1 (permalink)
 bulldog 
Salt Lake City, UT
 
Experience: Beginner
Platform: NT
Trading: 6E
 
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Does anyone know anything about Masterline Traders?

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  #3 (permalink)
 Tasker_182 
Legendary Market Wizard
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bulldog View Post
Does anyone know anything about Masterline Traders? I just checked. They are registered as an LLC in Florida. Using the address listed and Google maps, it seems the guy who runs it lives in a trailer park. They claim to have a member ("Doug" by name) who trades 5 contracts at a time in CL, GC and NG and who made over $20,000 last month.

Is this another snake oil outfit?

In general I think it best to treat all vendors as if they were until they prove otherwise. It is good that you are questioning and investigating. If they offer a free trial that would be a good way to evaluate. If you do that please post back your experience there.

Be yourself; everyone else is already taken. Oscar Wilde
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  #4 (permalink)
RicG
Nashville, TN
 
 
Posts: 9 since Aug 2012
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bulldog View Post
Does anyone know anything about Masterline Traders? I just checked. They are registered as an LLC in Florida. Using the address listed and Google maps, it seems the guy who runs it lives in a trailer park. They claim to have a member ("Doug" by name) who trades 5 contracts at a time in CL, GC and NG and who made over $20,000 last month.

Is this another snake oil outfit?


I agree with Tasker's comment that all vendors should be treated as snake oil salespeople, until you can confirm otherwise. And IF it's true that the guy who runs it, truly does live in a trailer park, I'd be extremely cautious.

I went to their website and see they advertise a free week in their chat room. I'd suggest you try that to get a feel for them, unless they ask for your credit card up front. However, remember that one week in trading does not make or break a career. If they have a great week, that doesn't mean they are profitable over the long term. And the opposite applies as well.

Use the free week simply to get a feel for them as "people", i.e., do they seem like good people, disciplined, professional, etc. Are they actually trading the calls they make, i.e., do they show their trades live on a DOM or charts and are the calls being traded in a live account and not sim? Are they willing to share their real brokerage statements over the most recent 12 month period to prove they know what they are doing? Do they give you the hard sell, etc. I could go on and on, but I think you get my drift.

Please let us know if you check them out further and what you find out.

Regards,
Ric

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  #5 (permalink)
 ironman07 
Kansas City Mo.
 
Experience: Intermediate
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Broker: tradestation
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Bulldog did you read their page on trial services? Once you sign up if you don't cancel within appropiate time your card is billed 19 payments of $250. that being said try the trial it but with a very strong dose of reality/ Without being able to read the market for key areas of S/R areas indicators are all but useless. There are no magical buy and sell signals that will work in real time..Only hard work and hundreds of hours of screen time will help you see the real picture. Make sure they are using a live account not sim to judge the performance. Indicators can be aid in your trading but if they are the only criteria your using you will be very disappointed.

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