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dietsoda
Registered: May 2007
Posts: 43 |
02-27-12 10:16 PM
I DIDNOT mention cool trade as a scam, i asked if this vendor had any dealings with the Co in question.
This has nothing to do with COOL TRADE..... You pay for an educational service and you don't gain anything to reflect the price you would feel the same way. I paid you 976.58 to fix my car and i get it back and it's still not working = same here. Also, any reputable firm out there associate with a scam "type" vendor or Co would suffer some kind of blemish. It's unfortunate but the madoffs of this world make it harder for the straight line people
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bwolinsky
Registered: Jul 2008
Posts: 4546 |
02-27-12 10:28 PM
Quote from lindq:
Presented as actual trades, not historical. This was the response from the company's rep when questioned about it.
Certainly a violation, though I doubt they're NFA registered. No disclaimers anywhere? If so then that would qualify.
I've never understood the motivation of marketing companies to print such obviously bogus results. I'm sure it wasn't just the fact that there weren't any losing trades, but that they were presented as actual, which is misleading and also a violation unless it was presented as educational material.
Would be interesting to post a screenshot of this, don't you think, lindq?
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BlueTurtle
Registered: Feb 2012
Posts: 542 |
02-27-12 10:42 PM
Quote from bwolinsky:
Certainly a violation, though I doubt they're NFA registered. No disclaimers anywhere? If so then that would qualify.
I've never understood the motivation of marketing companies to print such obviously bogus results. I'm sure it wasn't just the fact that there weren't any losing trades, but that they were presented as actual, which is misleading and also a violation unless it was presented as educational material.
Would be interesting to post a screenshot of this, don't you think, lindq?
I would imagine people selling educational information or software get paid more if they are successful. It's like selling cars. "This car is everybody's favorite and we sell more of these than .... ". Would you really ask, "OK, let me see proof you sold this many and testimonials from previous buyers." It becomes a weird area when nothing is in writing, and most people know the truth is stretched to sell. Like a CL ad, "I've used this for 11 days." When in reality, it's been abused for 1 year (say a laptop computer).
There are reasons why these seminars say "You cannot record, take pictures, etc...."
As far as cooltrade goes, it comes down to a few things (imo): If you bought it based on all this profitability. Do you have proof he said this about real trades. Did you then use the software and lose money. Then you have recourse, I think.
To call software a scam is pretty difficult I'm sure, since it's doing what it is programmed to do...for this reason, selling software makes much more sense than a book or seminars on how to trade.
One last thing: results and returns are totally different. he might have said results, which is fine and hypothetical. returns means real money and has to be proven. i'm pretty sure about this one.
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bwolinsky
Registered: Jul 2008
Posts: 4546 |
02-27-12 11:42 PM
Quote from BlueTurtle:
I would imagine people selling educational information or software get paid more if they are successful. It's like selling cars. "This car is everybody's favorite and we sell more of these than .... ". Would you really ask, "OK, let me see proof you sold this many and testimonials from previous buyers." It becomes a weird area when nothing is in writing, and most people know the truth is stretched to sell. Like a CL ad, "I've used this for 11 days." When in reality, it's been abused for 1 year (say a laptop computer).
There are reasons why these seminars say "You cannot record, take pictures, etc...."
As far as cooltrade goes, it comes down to a few things (imo): If you bought it based on all this profitability. Do you have proof he said this about real trades. Did you then use the software and lose money. Then you have recourse, I think.
To call software a scam is pretty difficult I'm sure, since it's doing what it is programmed to do...for this reason, selling software makes much more sense than a book or seminars on how to trade.
One last thing: results and returns are totally different. he might have said results, which is fine and hypothetical. returns means real money and has to be proven. i'm pretty sure about this one.
BlueTurtle, as a shill for cooltrade, you should know misrepresenting facts from opinion is a violation of NFA rules, and also since the results were presented as actual, only factual results in a third party account would ever validate this claim of 100% wins in accounts without losses on these, so called, "swing trades."
Dirty players deserve just as much reprimand as cheater that assign better than average numbers to their team as anybody that could ever believe a 100% win percentage is anything but a fraud. I would be very frustrated if the lindq experience by cooltrade isn't anything but a farce, because it obviously is if there isn't any verifiable third party account that ever earned the returns perported by lindq. If lindq can't find another third party to verify his claims, then this representation is patently false, obvious to the professional, and deserves classification by emg as a "scam" of unregulated third party educational vendors since the warrant of any actual trading results is negated by the absurd and obviously false claim of 100% win percentages and whether or not the 48% was claimed in jest by defacto hypothetical performance claims the claim is obviously false if there is no actual account that earned this performance.
Going further into performance, the claim is obviously false, given that any account earning such returns without validation is presumed to be hypothetical and not actual.
I assure you, lindq is more than qualified to make this assumption, and knows that, in fact, the recommendations of trading this particular model are patently false, and qualify as a "scam" due to falsification of trading records.
I know only of what lindq has told me about the results the CEO of CoolTrade is reporting that of a 48-49% return with 100% wins and 0% losses. Unless there is a hypothetical disclaimer then the ads and marketing materials produced by cooltrade are indeed a scam, and warrant forwarning by the premise of this thread to the op, emg.
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BlueTurtle
Registered: Feb 2012
Posts: 542 |
02-28-12 04:56 AM
LOL. not the best troll attempt. I could care less about cooltrade and they will never see one penny of my cash. I would like to see their marketing material, and will comment further. It takes about one second to see an "innocent sales pitch" versus "ridiculous attempt at stealing from someone via fraud and outright lying".
Even commonsense sometimes isn't enough, since the victims hope their finances turn around and will believe anything that might, just might, help them succeed.
I've known many authors of trading books, and every single one laughs when it's bought. They all know it's worthless, and won't help anyone trade. But for 10 - 100k, why not hash out some horrible crap and have it published. That gives you more credibility to sell other worthless material.
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nakachalet
Registered: May 2011
Posts: 344 |
02-28-12 11:17 AM
Quote from BlueTurtle:
LOL. not the best troll attempt. I could care less about cooltrade and they will never see one penny of my cash. I would like to see their marketing material, and will comment further. It takes about one second to see an "innocent sales pitch" versus "ridiculous attempt at stealing from someone via fraud and outright lying".
Even commonsense sometimes isn't enough, since the victims hope their finances turn around and will believe anything that might, just might, help them succeed.
I've known many authors of trading books, and every single one laughs when it's bought. They all know it's worthless, and won't help anyone trade. But for 10 - 100k, why not hash out some horrible crap and have it published. That gives you more credibility to sell other worthless material.
....and every single one laughs when it's bought. They all know it's worthless, and won't help anyone trade....
@BLUETURTLE
now, are you not extending your observation and experience a little too far, my friend, to include all authors of trading books....?
i know several authors who are exceptionally good in their pointers toward more proficient trading and such.
plse do confine your comments perhaps preferably to what you personal read, knew and experienced.... that way it lends more credence to your overall comments, just a thought alright, nothing personal, K? enjoy reading what you wrote but it was an experience that hopefully most would not go through nor endure. thx for sharing, blueturtle.
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