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

  #211 (permalink)
 Vendor: www.traderwerks.com 
Taipei Taiwan
 
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sharmas View Post
Now we need You Tube to take down all his videos as he has over 19k subscribers in there.

All his Trade of the Days have been in Market replays and his Webinars have been selective market replays too.

Sharmas

I just looked at their Youtube page and they are still posting new videos.

Math. A gateway drug to reality.
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  #212 (permalink)
Trading Apprentice
Manchester
 
Futures Experience: Beginner
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CFTC Charges schooloftrade.com

CFTC Charges California Residents Joseph Dufresne, Megan Renkow, and Their Company, United Business Servicing, Inc., Doing Business as Schooloftrade.Com, with Fraudulently Marketing Commodity Futures Trading Strategies and Systems

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  #213 (permalink)
Market Wizard
Calgary, Alberta
 
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HoopyTrading View Post
There is a big problem with folks who claim to be "trading site reviewers"...

They go in for a day or two into the thing, for a couple of hours, and come out with "tons of experience" with the place.

This is patently wrong. You have to spend a few years inside the bowels of a trading site, day in and day out, to finally understand what they are all about. You can't get the gist of a place with a few hours over a couple of days attending.

This is basic common sense. Have we all lost common sense? Eeek.

Whilst I agree that trading is a long term proposition, a few days is enough to provide a flavour of the said trading room.

You can tell very quickly if there is a) any trading going on and b) if it is just an infomercial for additional products or services.

And what we shouldn’t forget is this. Emmett requests that the vendor provide redacted trading statements to prove that they are actually trading LIVE in the first place. 99.9% of them can’t even provide a single day of verifiable evidence.

So whether they are selling a trading room, an indicator or a system. If there is no proof there is actual trading happening then that can be determined very quickly.

--------------------------------------------------------
- Trade what you see. Invest in what you believe -
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  #214 (permalink)
Market Wizard
Cleveland Ohio/United States
 
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HoopyTrading View Post
There is a big problem with folks who claim to be "trading site reviewers"...

They go in for a day or two into the thing, for a couple of hours, and come out with "tons of experience" with the place.

This is patently wrong. You have to spend a few years inside the bowels of a trading site, day in and day out, to finally understand what they are all about. You can't get the gist of a place with a few hours over a couple of days attending.

This is basic common sense. Have we all lost common sense? Eeek.


You should not have to spend a "few years" in a trading room to figure out if it is fake. Common sense usually gives you the answer very quickly. Heck, with most of these knucklehead vendors, you don't even have to go in the room to know they are slinging manure.

My motto: "if it looks too good to be true, it probably is."

Be very skeptical of EVERY vendor. Assume they are frauds, unless they can prove otherwise. Most people do the exact opposite - they assume the vendors are real, and then ignore the fraud signs.

If you have any questions please send me a Private Message or use the futures.io "Ask Me Anything" thread
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  #215 (permalink)
Market Wizard
London UK
 
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kevinkdog View Post
You should not have to spend a "few years" in a trading room to figure out if it is fake. Common sense usually gives you the answer very quickly. Heck, with most of these knucklehead vendors, you don't even have to go in the room to know they are slinging manure.

My motto: "if it looks too good to be true, it probably is."

Be very skeptical of EVERY vendor. Assume they are frauds, unless they can prove otherwise. Most people do the exact opposite - they assume the vendors are real, and then ignore the fraud signs.

I agree. Spending a few years on a website to see if it's fake is unnecessary (and downright financially dangerous) as with most dodgy websites as Kevin points out you can easily read the signs for fraud.

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  #216 (permalink)
Market Wizard
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emini2000 View Post
Not so. He's on the "Explore the Eco System" page here under "NinjaTrader Education Partners". Right in the middle.


https://web.archive.org/web/20130622075145/http://www.ninjatrader.com/partners#Education

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

I guess once something is posted into CyberSpace, it never actually goes away.

@NinjaTrader - I guess you will have to admit defeat on this one. It may not have been listed on ninjatraderecosystem.com but School of Trade was certainly listed as an "Education Partner" at some point.

And I quote "The world’s leading trading education providers use NinjaTrader. No compromises. They demand the best and NinjaTrader delivers."

Don't get me wrong. I am a big fan of NinjaTrader trading platform (NT8 bumps and all) and have been using NT since 2009. But you really have to introduce a much more in depth background check and vetting process. Your decision tree on whether to list a vendor/educator needs a serious overhaul. You are getting a bad rap here. IMO I would stop with immediate effect until you can roll out something that people can begin to trust, because right now they really don't.

Do you receive any compensation from vendors listed as “Education Partners” or listed on the EcoSystem?

--------------------------------------------------------
- Trade what you see. Invest in what you believe -
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  #217 (permalink)
Elite Member
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JonnyBoy View Post
It may not have been listed on ninjatraderecosystem.com but School of Trade was certainly listed as an "Education Partner" at some point.

Clearly I was wrong, in fact they were listed on our website for a period of time. I am looking into this since I sincerely thought they were never listed.


JonnyBoy View Post
But you really have to introduce a much more in depth background check and vetting process. Your decision tree on whether to list a vendor/educator needs a serious overhaul.

Improving how vendors are listed and continually audited has been a high priority project for us over the last few months. I appreciate the concerns raised by members of the forum and know that I take this very seriously. As a result, our improved process will be more transparent and public communications more frequent.


JonnyBoy View Post
Do you receive any compensation from vendors listed as “Education Partners” or listed on the EcoSystem?

No, we do not.

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  #218 (permalink)
Trading Apprentice
Manchester
 
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The fact these guys were listed as a trusted partner by both Ninjatrader and Mirus Futures (since acquired by Ninjatrader in June 2014) did have a big impact on my (stupid) decision to join schooloftrade.com. Being listed as a trusted partner by two respected organisations lent schooloftrade.com some considerable credibility that they clearly did not deserve. I am sure others can fill in the blanks but my understanding is that Joseph Dufresne used a connection at Mirus Futures well to enjoy this status.


NinjaTrader View Post
Clearly I was wrong, in fact they were listed on our website for a period of time. I am looking into this since I sincerely thought they were never listed.


Improving how vendors are listed and continually audited has been a high priority project for us over the last few months. I appreciate the concerns raised by members of the forum and know that I take this very seriously. As a result, our improved process will be more transparent and public communications more frequent.


No, we do not.


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  #219 (permalink)
Membership Temporarily Revoked
Boston, MA
 
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kevinkdog View Post
You should not have to spend a "few years" in a trading room to figure out if it is fake. Common sense usually gives you the answer very quickly. Heck, with most of these knucklehead vendors, you don't even have to go in the room to know they are slinging manure.
...

In retrospect, yes I agree, I should not have typed years. I suppose a few weeks would suffice. But my point was not about seeing if they were "fake", but the totality of the experience. My bad in choice of timeframe.

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  #220 (permalink)
Market Wizard
Cleveland Ohio/United States
 
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HoopyTrading View Post
In retrospect, yes I agree, I should not have typed years. I suppose a few weeks would suffice. But my point was not about seeing if they were "fake", but the totality of the experience. My bad in choice of timeframe.

Gotcha. I guess you could theoretically learn from some of these guys, maybe some things to do, but really what not to do. And maybe that would make it worth whatever cost.

But most of these bonehead vendors talk a good game, yet cannot trade their way out of a paper bag. That to me is a big deal.

If you have any questions please send me a Private Message or use the futures.io "Ask Me Anything" thread
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