Welcome back acbrasil. I'm more into range and tick charts these days as can be seen in my journal. Thanks for the anecdotes about Felton trading longboat and ironman07. I've seen very much the same thing in another trading room that tried to get me hooked. I paid for a costly trading room month. I couldn't see how many other members there were. It always seem like the same 4 or 5 people. I suspect they are co-staff or affiliates or staff pretending to be members. Only one speaking host, but it seemed like he was talking to the same 4 or 5 people including me. Tried to get me into the "apprenticeship" which cost much more. And the indicators were all subscription tied. I found it annoying how easy it was to approximate their indicators with basic NT ones. And yes, they would pad the results after hours so many times. Many times doubling or tripling their contracts. The guy slipped it was sim one time. Of course it's all sim. Now I got an email the other day from that group that they are starting a "fund" and inviting folks to join. The fund would be the host and 3 other pals daytrading. What a coincidence in the number of staff. I guess this new "offer" could attract more "sales" than the trading room fee or $7.5k training "apprenticeship" program. Felton having more than one sim account. Makes sense with a multiple system/monitor setup. One could be swapped out if it's performing poorly. I don't buy it that one can't do it live and teach. I would do so if I was teaching and have the dom or chart trader on. Why miss out the opportunity to trade for your own at the moment if your method is so good? CJBooth did it with a live chart. One can just do it live and do a warning a minute beforehand. Then it would be up to the students to enter as close as possible. Unless it was the smallest time frame and one was trading like an HFT bot.
Last edited by Cloudy; October 5th, 2012 at 12:36 PM.
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it surely would benefit many traders here too, if you could be a little more specific about your costly personal experiences in ref to....
....I've seen very much the same thing in another trading room that tried to get me hooked. I paid for a costly trading room month. I couldn't see how many other members there were. It always seem like the same 4 or 5 people....
would you be able to share with us more on this, pls? only if you are willing and able to, K?
and i also agree with you that you can trade live and teach at the same time.... even though it might be distracting at times.... but that comes with the territory.... and i also seemed to recall that some big head in this forum did not see eye to eye with this concept to trade live and teach is probable.
but in terms of reality, i can guarantee from past fortunate personal experiences, that there are currently several trading gurus who are trading their personal acct and teaching to the fees paid traders/members, day in and day out; with consistent profitable results.... otherwise, no one would pay the membership fees from some 300 usd to 900 usd per month.
thx for sharing your personal experiences, cloudy, longboat, ironman07 and others.... much appreciated.
Last edited by nakachalet; October 5th, 2012 at 04:12 PM.
I wonder what is better, seeing lots of hard core supporters still around or just new people? One would think the objective is to become self-sufficient or independent. I would be tempted to see hard core supporters still around as a red flag
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I'm not sure what specifics you mean besides naming the place as I've been very detailed. The "course" was $7500k, and there was a monthly fee over a $100 per month. I was using this example as like Felton they reported extra trades outside the room hours to pad their daily profit. I would say traders should be aware of padded results outside the room (especially on losing days which they never reported in their newsletter because of the padding after hours) not to mention catching them always in sim; that would be a good red flag indicator and would help other traders avoid that place automatically among others; that's the biggest thing that will help new traders avoid paying for these scams. Fortunately I quit after one month but the scammers emailed me for a while after trying to make me feel guilty and get me back probably to help with their daily lunch money. Fortunately, the place has been properly reviewed here in the vendor threads.
What enables these scammers is that they think the endless supply of new traders is perpetuity of the actual quote "There's a sucker born every minute". Places like futures.io (formerly BMT) help aspiring traders wise up to this. Per that room, I was galled they thought I was a complete beginner fool even after I told them I frequented futures.io (formerly BMT). They were probably desperate because I was probably the only one foolish enough to stay with them past the trial days and tried to get another month fee out of me. Like Felton, they were introducing "new and improved" indicators by their "programmer" during my time there. And they are by far not the only rooms to do these shenanigans.
Last edited by Cloudy; October 5th, 2012 at 05:43 PM.
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There's a confessions thread if you want confessions on $ spent on trading education. And no, like what I said I quit after a month. They tried to sell me into paying for the $7500k course which was not appreciated because there was little value gained from the monthly fee for the reasons I mentioned. I'm just glad they are exposed now and reviewed, as well as Felton so new traders won't be suckered in for anything past the trial.
Last edited by Cloudy; October 5th, 2012 at 06:04 PM.
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I think what would help the credibility of *ALL* vendors is if they used some 3rd party verified results like myfxbook. I trade MT4, BUT I'm very sure that these 3rd party services have a Ninja plugin. The vendors should let their results speak for themselves.
Roger is a nice guy. I also like divergences. I was sending Cloudy terminal-generated results of live trades with nice results and very high accuracy for a couple of weeks. Then I started this #$%!!& remodling project and now I feel rusty and not really wanting to stay glued to the screen.
I may be starting a new thead soon. I found a guy on forexpeacearmy that has 5 stars and 2 pages of people praising his course (which is pretty cheap compared to Felton or most other people). His course also isn't on futures.io (formerly BMT), which I found odd since so many people already know about it on FPA and a couple of other forex sites. I couldn't resist the temptation and I paid for it this afternoon! I want to see what the 2 pages of 5 star reports were about. Well, I hope it's really good! Once I get some experience with it, I'll make a thread saying if it's good or garbage.
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