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Is School of Trade legitimate? (www.schooloftrade.com)


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Is School of Trade legitimate? (www.schooloftrade.com)

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  #111 (permalink)
Salt Lake City, UT
 
Experience: Intermediate
Platform: NinjaTrader
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benrock View Post
read his website , it says all trades are simulated

Here again is the oh so subtle misrepresentation. He used to boast how much money he was making and would always include that he made XXXX USD. That's right, United States Dollars. Not SIM dollars. There is a difference. By so stating that he made XXXX USD he was making the claim that he made real spendable cash- not monopoly money. If he has to hide behind technicalities and legal stipulations and semantics then the guy is covering up more than his ass. Let's leave games to kids. These are people with real money who are considering making the investment in his educational services. Perhaps they should buy his services with the same SIM dollars he is making in his claims.

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  #112 (permalink)
Boston, MA. United States
 
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benrock View Post
where is bid and ask on the chart trader , and if u take a screen shot with ninja , the chart trader does not stay in pic , read his website , it says all trades are simulated

There is no bid/ask on the chart trader.

Can you be more specific about where it says that on his website. I read his terms and conditions and couldnt find it. Just your typical disclaimers.

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  #113 (permalink)
Boston, MA. United States
 
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Aragorn View Post
I guess the thing that really turned me off to him and made me question his ethics was he would identify a trade and then, after several seconds would say something like, "Wait" or "Hold on" as though he had changed his mind. Most are going to say that I was expecting a trade calling room. Not true. I never took the trade. What I questioned is that this change of mind, a losing trade, never showed up on the P&L statement at the end of the day. Why not? He was "cooking the books". Ya know what, I'd have a lot more respect for the man if he was completely honest. By fudging on his success it relegates him to the same mass of schisters and scam artists to which we all try to avoid. Some may want to sift through the morass of good or bad, right or wrong, legit or scam scenarios and examples. I have neither the time nor the inclination to so investigate further. I would not be so objective as I once was. I would now only be looking to validate an already biased opinion.

I agree. I am ultimately just trying to get to the bottom of it. I think it is important. I do not want to post the stuff from his site here because it seemed to piss off big mike and I want to obey his forum rules but if you follow this link

SidewaysMarkets.com│Day Trading Strategies: Trade Room Recap

there are screenshots with his executions and you can see the account, (slightly redacted) that he is trading from.

Is this not a live account?

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  #114 (permalink)
hampton bays
 
Experience: Master
Platform: ninjatrader , TOS
Broker: CQG
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Posts: 85 since Mar 2012

there is no bid or ask on your chart trader then ur not connected live , cause there definetly is for sure

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  #115 (permalink)
hampton bays
 
Experience: Master
Platform: ninjatrader , TOS
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Posts: 85 since Mar 2012

https://www.tradersplatform.com/images/ChartTraderLg.png

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  #116 (permalink)
Boston, MA. United States
 
Experience: Intermediate
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Posts: 146 since Sep 2011
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benrock View Post
there is no bid or ask on your chart trader then ur not connected live , cause there definetly is for sure

Excellent point.

Where on his site does it say that all trades are simulated?

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  #117 (permalink)
Boston, MA. United States
 
Experience: Intermediate
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Posts: 146 since Sep 2011
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Never mind I found it. Made it bold.


"Trading Signals

All signals are for educational purposes only and are not to be construed as an offer to buy nor sell future contracts. By reading this, you hereby agree that you will not make actual trades based on any information, educational alerts or triggers that are posted in any education, via email or discussed via audio/video/text in the chat room - this is not a financial advisory service. Note that all of our posts are for educational use only; per CFTC/SEC guidelines we do not give investment advice nor promote the buying nor selling of any specific futures contract(s). Traders assume full liability for all trading risks and outcomes. Do not make actual trades based on information or alerts based on any information from SchoolOfTrade.com nor our live Signal services. The signal service, for which you are enrolling sole purpose, is training. We are an online educational source for learning to trade futures contracts.SchoolOfTrade.com & United Business Servicing or its employees and associates are not responsible for any loss or profit.

The chat room and trade room is for online educational purposes only. It is not to be misunderstood as a trading room. Such as a room giving signals for trading real money. We request that our students follow our trades using a simulator as we do when we recognize trading opportunities. Please do not misunderstand our services. We are here to educate students using actual real-time charts and market data. Do your own due diligence and consult with a qualified broker or registered investment advisor (which we are not) prior to making any trades. You assume all risk/liability for all trades that you make. Day trading is high-risk and speculative in nature, and is not suitable for most people. Past performance is not indicative of future performance. We make no performance claims of any kind. You hereby agree to all terms on this page before you become a trial, beginner, intermediate, or advanced member to any service provided by SchoolOfTrade.com."

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  #118 (permalink)
hampton bays
 
Experience: Master
Platform: ninjatrader , TOS
Broker: CQG
Trading: FUTURES
 
Posts: 85 since Mar 2012

iam a member and to be completely honest , its not a bad program , hes a good teacher , gives tons of stuff for the money but its not a trade calling service , do the 2 week trial , pm if u have any more questions

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  #119 (permalink)
Boston, MA. United States
 
Experience: Intermediate
Platform: Ninja
Trading: Futures and Forex
 
Fibbee's Avatar
 
Posts: 146 since Sep 2011
Thanks: 96 given, 152 received


benrock View Post
iam a member and to be completely honest , its not a bad program , hes a good teacher , gives tons of stuff for the money but its not a trade calling service , do the 2 week trial , pm if u have any more questions

So am I and I know exactly what you mean. I took heat in this thread when I first got involved because I was honest about his material and teachings, his "school" being legitimate. I dont even participate in his trade room anymore so his signals dont matter to me. What does matter is people getting the right information and not a vengeful opinion from someone who lost money. I have no problem being wrong about something, but if he is making false claims, and fudging his numbers, then I want it to be known to people who are considering membership.

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  #120 (permalink)
hampton bays
 
Experience: Master
Platform: ninjatrader , TOS
Broker: CQG
Trading: FUTURES
 
Posts: 85 since Mar 2012


problem is we cant be honest about sot because if we say anything negitive , we get kicked out and lose 4000 , already happened to about 20 members about 2 months ago but he gave memberships back

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