Is School of Trade legitimate? (www.schooloftrade.com) - Vendors and Product Reviews | futures.io
futures.io futures trading


Is School of Trade legitimate? (www.schooloftrade.com)
Started: by Aragorn Views / Replies:95,285 / 259
Last Reply: Attachments:24

Welcome to futures.io.

Welcome, Guest!

This forum was established to help traders (especially futures traders) by openly sharing indicators, strategies, methods, trading journals and discussing the psychology of trading.

We are fundamentally different than most other trading forums:
  • We work extremely hard to keep things positive on our forums.
  • We do not tolerate rude behavior, trolling, or vendor advertising in posts.
  • We firmly believe in openness and encourage sharing. The holy grail is within you, it is not something tangible you can download.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.


You'll need to register in order to view the content of the threads and start contributing to our community. It's free and simple, and we will never resell your private information.

-- Big Mike

Reply
 24  
 
Thread Tools Search this Thread
 

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

  #211 (permalink)
 Vendor: www.traderwerks.com 
Taipei Taiwan
 
Futures Experience: Advanced
Platform: NinjaTrader
Broker/Data: Optimus
Favorite Futures: TW
 
Posts: 693 since Jun 2009
Thanks: 440 given, 432 received


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.
Reply With Quote
The following user says Thank You to traderwerks for this post:
 
  #212 (permalink)
Trading Apprentice
Manchester
 
Futures Experience: Beginner
Platform: NinjaTrader
Broker/Data: zen
 
Posts: 31 since Feb 2010
Thanks: 0 given, 13 received

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

Reply With Quote
 
  #213 (permalink)
Market Wizard
Calgary, Alberta
 
Futures Experience: Intermediate
Platform: NinjaTrader 8
Broker/Data: Kinetick
Favorite Futures: ES
 
JonnyBoy's Avatar
 
Posts: 910 since Apr 2012
Thanks: 373 given, 1,689 received
Forum Reputation: Legendary



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 -
--------------------------------------------------------
Reply With Quote
The following 2 users say Thank You to JonnyBoy for this post:
 
  #214 (permalink)
Elite Member
Cleveland Ohio/United States
 
Futures Experience: Advanced
Platform: Tradestation
Broker/Data: various
Favorite Futures: futures
 
Posts: 2,212 since Jul 2012
Thanks: 1,010 given, 4,017 received


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
Reply With Quote
The following 4 users say Thank You to kevinkdog for this post:
 
  #215 (permalink)
Market Wizard
London UK
 
Futures Experience: Beginner
Platform: CQG
Favorite Futures: Futures
 
xplorer's Avatar
 
Posts: 1,793 since Sep 2015
Thanks: 3,259 given, 2,360 received
Forum Reputation: Legendary

Futures Edge on FIO

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.

Reply With Quote
The following 2 users say Thank You to xplorer for this post:
 
  #216 (permalink)
Market Wizard
Calgary, Alberta
 
Futures Experience: Intermediate
Platform: NinjaTrader 8
Broker/Data: Kinetick
Favorite Futures: ES
 
JonnyBoy's Avatar
 
Posts: 910 since Apr 2012
Thanks: 373 given, 1,689 received
Forum Reputation: Legendary


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 -
--------------------------------------------------------
Reply With Quote
The following 3 users say Thank You to JonnyBoy for this post:
 
  #217 (permalink)
Elite Member
Denver, CO
 
Futures Experience: Advanced
Platform: NinjaTrader
Broker/Data: NinjaTrader Brokerage
Favorite Futures: ES
 
NinjaTrader's Avatar
 
Posts: 1,197 since May 2010
Thanks: 142 given, 1,791 received


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.

Reply With Quote
The following 5 users say Thank You to NinjaTrader for this post:
 
  #218 (permalink)
Trading Apprentice
Manchester
 
Futures Experience: Beginner
Platform: NinjaTrader
Broker/Data: zen
 
Posts: 31 since Feb 2010
Thanks: 0 given, 13 received

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.


Reply With Quote
 
  #219 (permalink)
Membership Temporarily Revoked
Boston, MA
 
Futures Experience: Intermediate
Platform: NT7
Favorite Futures: CL, RB, LE
 
Posts: 264 since Apr 2014
Thanks: 102 given, 169 received


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.

Reply With Quote
The following 2 users say Thank You to HoopyTrading for this post:
 
  #220 (permalink)
Elite Member
Cleveland Ohio/United States
 
Futures Experience: Advanced
Platform: Tradestation
Broker/Data: various
Favorite Futures: futures
 
Posts: 2,212 since Jul 2012
Thanks: 1,010 given, 4,017 received



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
Reply With Quote
The following 5 users say Thank You to kevinkdog for this post:

Reply



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

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

2016 True Edge Awards: Voting is open until Jan 21!

Now
 

Anthony Drager: Pulling the trigger with confidence

Elite only
 

Leo Murphy: The Art and Science of Technical Analysis

Elite only
 

FuturesTrader71: Ask Me Anything

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Anybody use Jake Bernstein DSI (www.trade-futures.com)? supermht Vendors and Product Reviews 8 March 17th, 2016 09:03 AM
Trade 2 Live (www.trade2live.com) review gg80108 Vendors and Product Reviews 20 December 23rd, 2015 03:47 PM
emini trading school (www.eminitradingschool.com) review drdam1 Vendors and Product Reviews 29 October 28th, 2015 03:32 PM
Trading School Recommendation Request plethora Vendors and Product Reviews 37 September 4th, 2012 01:02 PM
Thoughts on Back To School Zondor Off-Topic 0 August 14th, 2011 03:01 PM


All times are GMT -4. The time now is 02:29 AM.

no new posts
Page generated 2017-01-21 in 0.17 seconds with 41 queries on phoenix via your IP 54.145.220.120