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Warrior Trading - FTC scam alert


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Warrior Trading - FTC scam alert

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  #21 (permalink)
 faithdefender 
Salem VA USA
 
Experience: Intermediate
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This is sort of good news, but bad for those who gave their money. Just like with Online Trading Academy, the FTC slapped them on the wrist. We gave OTA our entire savings and this was almost 40 Grand, but we did recover a little over 150 bucks thanks to the "justice" of the FTC. The FTC did demand OTA no longer call their Pro Picks "ProPicks", but made them change their name to "OTA Picks." In other words, you can keep doing business, but dont refer to your product as "Pro." My question is how much is the FTC fining them to line their pockets in the light of what the victims receive?

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  #22 (permalink)
 Finley 
Phoenix, AZ
 
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What's intriguing is that Ross is still on YouTube, posted a video today, and looks like business as usual. Still has links to his courses. But his caveats and disclaimers seem to be much more robust.

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  #23 (permalink)
 ziggy123 
boston
 
Experience: Intermediate
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And followers like that Larry what ever the F - who has 6 posts on this site and acts and SHILL for that guy

S.



Kujo View Post
'Ross knows what he's doing and has a great training system, as far as I know, because I never purchased it.'

Sounds like modern-day FAKE NEWS reporting on BOMBSHELL stories from anonymous 'reliable' sources...

The greatest scammers have the following qualities:
1) Seem to REALLY CARE about people
2) Tons of 'FREE CONTENT'
3) Charismatic
4) Tons of very obviously fake reviews (most reviews from reviewers with only 1 review on scam review site)
5) Bold and entirely unsubstantiated claims
6) Lots of marketing

If he was all that he claims he is, he wouldn't be in any trouble at all.


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  #24 (permalink)
 ziggy123 
boston
 
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Yes...and lightening blots are coming out of his Arrr%$&^% ....that's why he is being SUED - because he is so KIND to people


Larryeh1 View Post
Over the last 5 years I did study (more of a surface study) what Ross has created at Warrior Trading and I could see that Ross does know how to be a profitable trader and does want to help others learn. Ross knows what he's doing and has a great training system, as far as I know, because I never purchased it. He's got tons of free content that you can study and one can see where his heart is at. But this is what I want to say here, and that is, it takes a lot of very hard work and an enormous amount of discipline to apply the rules one learns about how to trade. And this is where traders have the hardest time...applying the rules. Not taking the trade which is not per the rules they learned. Once someone says you told them they would "make money" (which I don't think Ross has done), it can and often does become a legal situation. There are also at least 25 illnesses you can not legally say you can cure, even if you can. I believe Ross has great learning tools and does show how much one can lose too each time he has a loss. There is a good level of transparency there with Ross if you look. One needs to learn the rules and apply them as taught. Anything else is not per the rules.


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  #25 (permalink)
 JohnKK 
Northern NJ
 
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I had a subcription to his chatroom a few years ago and kept it for a month or so. I found Ross to be very personable and an excellent communicator, not to mention solid trader. Too fast to follow in real time, but, he was the first one to tell you you should not be doing that. Still, I was profitable following his trading approach, the methodological part that he was sharing for free. I remember deciding against paying for anything extra, eg, for his Trade-Ideas templates (which one could copy off the screen) and, primarily, other lessons on dvd or private. But, I thought the chatroom was very positive and well managed - and, as I said, I made some money there, more than my subscription cost. Nevertheless, imo, most trading chatrooms are like drugs, they may feel good a little bit (especially in the beginning) but, ultimately, they hurt your trading confidence and performance because you tend to listen to the "guru" more than think for yourself. So, after a few weeks, I thanked him and left. Other than peeking in for a few days to see what/how they are doing, I stay out of real time trading chatrooms.

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  #26 (permalink)
 Kujo 
Boise, ID USA
 
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There are industries with 'built in' profits for the 'government fines' or 'lawsuits' and this is one of them.

Big Pharma is another one. They might make $2B on a drug that ends up hurting a lot of people, and they end up with a fine of $250M, but they are still extremely profitable on that drug. This is also why drugs in the USA are extremely expensive for the same company that you can buy them for elsewhere a lot cheaper. It is to buffer in much larger profits for the potential fines or lawsuits that are common in the USA.

Actuaries work for these huge companies to calculate RISK and COSTS of potential lawsuits down the road.

This industry (trading 'education' or 'bots' or 'software') is littered with scammers obviously, but are the potential fines so much as to deter them from not starting up again and doing something similar? I don't think so. There is a lot of money in selling GET RICH QUICK WITH LITTLE EFFORT schemes.

If you have charisma this is one business to make a lot of money selling pipedreams, and so is starting a church. At least with a church, you don't have to worry about taxes or getting sued or fined!

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  #27 (permalink)
 MrMojoRisin 
Graz/Austria
 
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Some time ago I've filled out a report-form at the FTC's homepage and put quite some work into it.
I've reported an "educator" actually one year after I concluded for myself that they scammed me. I'm still waiting that they take them down, but now after hearing this good news about Warrior, I'm positive that they are at it.

I did not report them right away, because through lucky circumstances, I managed that they gave me back most of my money and with that they kinda covertly threatened to sue me if I accuse them of being fraudulent. So I thought myself lucky that I got away with just a black eye.

But then after another year of market experience, and life experience, I concluded that it's the duty of everyone to help putting criminals to where they belong to. And that's what they are: criminals. They might not put a gun at your head, but they exploit the trust, especially of younger people, and do tremendous damage, not just financially, but also in how we look at the world and humanity.

So I encourage everyone to take the time and report what you think is a fraud to the FTC: https://reportfraud.ftc.gov/
Those guys are professionals. They do their due diligence and they have a good idea of who is reporting a fraud because he's mad at himself, and who sincerely thinks he helps keeping society clean.

"Who is John Galt?"
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  #28 (permalink)
 Larryeh1 
Cabo San Lucas, Mexico
 
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natan1967 View Post
There are very few traders out there who can trade real money in front of everybody. As far as i know he claimed to be trading real account . Was that the case?


Ya, I hear you Ramat. For sure. You would need to master just handling your own money before you moved onto trading live in front of people. I believe he is. Can that be confirmed? Well, he did and does show bank statements. These days anything can be doctored up with Photoshop though. But, personally, I believe he was being transparent. Lastly, I think we're off the topic here. From what I understand, the report is that he's being investigated by the FTC for fraud. That can mean a lot of things. Trading in front of people with a live account or not is not the target of the FTC as far as I can tell.

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  #29 (permalink)
 Larryeh1 
Cabo San Lucas, Mexico
 
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ziggy123 View Post
Yes...and lightening blots are coming out of his Arrr%$&^% ....that's why he is being SUED - because he is so KIND to people

Hi Ziggy123, From what I can remember, you are innocent until proven guilty. Being sued is not an automatic adjudication of guilt. It is just the start of a process, not an end. As things progress we'll see where it goes. I'm curious myself.

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  #30 (permalink)
 ziggy123 
boston
 
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I concur - that is also true. It's just that there are so many SCAM artists out there - and usually where there is SMOKE = there is FIRE.

I don't think the SEC would have pursued this if they didn't have solid proof - but let's indeed see.

Cheers


Larryeh1 View Post
Hi Ziggy123, From what I can remember, you are innocent until proven guilty. Being sued is not an automatic adjudication of guilt. It is just the start of a process, not an end. As things progress we'll see where it goes. I'm curious myself.


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