Leo Gindin offers training in trading the Russell 2000. Like Bill McDowell, he has no website. He advertises in classified ads:
Trading only few hours Russell 2000.
No previous knowledge is required, trading futures is a skill. Free training in exchange for profit sharing. firstname.lastname@example.org
So I emailed to see what his offer was. He offers 2 day live training for $5000 OR free training by webinar for 25% of your profit. My first question was why didn't he just increase his contracts and get 100% more income. His answer was that he wanted to create a residual income so that he could do other things. Odd, considering only a few hours a day was needed for $1000+ per day.
The catch comes in that you need his indicators that he leases for $500 per month! It made more sense now. I see it as essentially an offer to sell his indicators disguised as free training. I figure he hooks people into paying for his indicators for at least a couple of months, netting him $1000 per person. Getting just one per week, brings him $4000 per month. Not bad, and that's his residual income.
Anyway, when I question him on the cost of the indicators, which by looking at the chart he sent, seems like a few moving averages and a simple oscillator, the tone of the reply got a lot more curt.
Maybe someone else would like to investigate further or has a different experience.
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Someone that doesn't have a website and advertises in classifieds seems to be to be clearing targeting uneducated, uninformed people and limiting the negative publicity that can be linked or associated to a website.
That is your first sign to run, far far away, as quickly as possible and don't even waste a second of your time on such junk.
Your second sign was someone that places so much importance on indicators that he needs to sell them as "valuable".
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