More needs to be done to shut people like this down. This industry is full of scam artists who prey on others through a perfected craft and web of lies and deceipt. Perhaps members aught to take an agressive and united stance to get this guy out of the industry.
The following user says Thank You to Aragorn for this post:
Linds, this topic need further investigation to establish exactly how a non US resident can file a small claim. I do not have the answer yet unfortunately. What we have is the defendant selling a service over the internet to customers outside the state of California.
I joined to learn how to become a better trader, not to shadow trade someone.
Personally I think that if you join the SOT (or any trading service/website) with the ambition to shadow trade someone, you're an idiot and you don't want to actually learn how to become a trader, just how to push the button when someone else says so.
If you follow the emails, facebook posts, or tweets from Schooloftrade.com the answer to whether or not he is trading live is usually found within.
A facebook post today stated "85 ticks trading crude oil, 3 trades called live today"
He will say 3 trades called LIVE, instead of saying 3 live trades. A little twist of the words can work nicely.
Its pretty obvious that he is not trading live.
Is the school legitimate? As a school, yes it is, as a never-have-a-losing-day-again-trading-this-unbelievable-system, god no. The education offered by SOT is good, he is continuously updating the website and building out the business for his members. Most of the video's however can be cut down to about 20 minutes of actual information, the other hour is him repeating himself. Regardless, I still learned some things from JJ that I have integrated into my trading. I wouldn't put a price tag of 3 or 4 thousand dollars on it though, its pretty obvious that his focus is selling memberships and not actually making money day trading.
I could speculate on why he does not trade live, and I don't think it is because he does not know what he is doing, but that too, is irrelevant to the question that was asked.
Im not saying that the same information can not be found elsewhere, because it certainly can be, or that JJ is the master of the trading universe. I figured out that he was probably not trading live shortly after becoming a member. However, given the investment I do not try and trash the website all over the internet as that will only get me revoked. I just check in from time to time and see if it can provide me with any new helpful information.
Hope that helps, I know this is an older thread but maybe it will prove useful for new visitors.
When I joined SOT JJ blatantly insisted he traded a live account in his trade room. When he was questioned as to why he did not trade more contracts given his methods were so successful he used to say that his brothers traded his "main" account for him and he just traded a small account in the live trade room. If you asked JJ to provide evidence to support his claims he kicked you out of your lifetime membership. Many people were deceived by JJ and his false claims. Furthermore there are several quotes in public forums from JJ claiming he trades a live account. JJ has definitely changed his approach and is now putting heavy emphasis on the fact his methods are for education purposes only. With all the information now online and with the heat that has been created JJ is being forced to admit things he would not have chosen not too in the past. JJ realised he could not continue with his blatant rip-off scam tactics and is now trying to clean up his act, that is the bottom line. Even if JJ became squeaky clean now it will not excuse him for the crimes in his past.
I am a little bit confused about why you felt the need to post a venting reply, as I clearly answered Aragorn's question. But it's evident from your blog, youtube video's, posts on Ripoff Report and probably every scam review website on the internet, that you have a serious grudge against the school of trade, so I am not surprised you would jump at the opportunity.
I blatantly said that I did not think JJ was trading LIVE and that I did not feel that the education provided was worth the money, furthermore I also said I was hoping that this would help a new visitor who is contemplating joining the SOT. In other words I am telling people not to join. So that is why I am a little confused about why you would rant about JJ's "crimes of the past" towards me, I am not concerned with that.
I am not here defending him in any way, or advocating his service.
Let me reiterate my points in my previous post more clearly, so hopefully we can be on the same page.
Is the SOT legitimate? My answer, As an "educational service" Yes.
Is JJ trading LIVE? My answer, NO, I do not think so.
Is the education from SOT worth the price tag? My answer, NO.
“When you hold resentment toward another, you are bound to that person or condition by an emotional link that is stronger than steel. Forgiveness is the only way to dissolve that link and get free.”
The following user says Thank You to Fibbee for this post:
Is SOT Legitimate in any way, NO! Not even as an educational service Fibbe and I will tell you one more reason why.
Do you really think Joseph James (JJ) is for real in any way? Why does he use a false name then? Yes, that's right JJ has a shady history all right and when he moved to California he thought twice about using his real name in case he got tracked down again. Joseph James is in fact really called Joseph Dufresne and he works his scam with his brother.
Now that we have uncovered your real name Joseph, I wonder if anybody out there can help us with your address in California?