Thanks, I really appreciate your response. I know all these places are trying to get people to sign up for their live trading rooms, I just wish I could watch a trader with alot of successful experience trade live to pick up some tips. I feel so isolated sometimes, I personally don't know anybody that does this for a living or even trades part-time.
Can you expand on your experience? how long did you use the service? when? Some specifics of what you saw/learned?
The folks running the room seem to have significant experience. Also, a friend attending the trial seem to be quite impressed. They have what seem to be some new tools, maybe you can let us know if they already had these tools when you were a member of the service.
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Advanced Trading Workshop used to present frequently on TraderKingdom.com, and used NinjaTrader and recommended Mirus Futures (before NinjaTrader acquired Mirus). As I recall, there were two separate parts each run by one of the two partners: a daytrading trading room that had its own software, and a swing trading room that was operated by the original single founder.
It's unclear from the CFTC statement which of the trading rooms was illusory; perhaps both were.
It seems odd that the CFTC did not name the principals.
Thanks for notifying us of this. Astonishing. But then, not really.
For quite awhile it was Andy Carlson who was the supposed daytrader, and Jerry Simmons who had a swing room and did more education. Andy was definitely the marketer (not the 3rd party marketer referred to here) and purported successful daytrader.
At some point Jerry Simmons left the company, and after that I believe someone else even bought Carlson out. But I'm pretty sure the period in question still had Carlson doing the supposed trading. Not positive of that, though.
As I always suspected when I sat in years ago with Carlson there, "Rather, Trader only engaged in hypothetical or simulated trading in the Room, meaning that no orders were placed or exposed to the market, and no orders were ever actually executed."
This video was published during the "relevant period" of the charges, August 2012. Carlson is the speaker at the beginning. I'm sure he thought he got out in time and got away with the scam https://www.youtube.com/watch?v=__8ob7nrL1Y