I had an email from Preston James' organization which said they couldn't reach me by phone. (I'm glad I had changed my phone when I moved), so to please call them. Yeah right. If I did so my phone would be passed around Preston's sales army. I had 7 calls from different people throughout the year even bothering me at work. $6000 for the basic "mentoring", $10,000 for the classic. I had signed up for Preston's master trader online program. All it was , was bad calls on stocks using covered calls with some put protection which always ended up losers or eaten up by bad fills and over adjustments. I doubt he ever traded those live. I made sure I was canceled, and I still had access to the website! even though I don't really look at the bogus calls anymore. I was only checking if I was canceled. At least my credit card was not charged anymore annually, but looks like they moved on and don't even have anyone hired to enforce the website. The main program is the selling of "mentorships". The website is just a front to get your info and phone number on the phone list to pressure sale mentorships! And always with calls by what sounds like newly hired poor salespeople who don't know how to trade. A few months ago, I got spammed with email by Preston's organization to check out Karson Keith's new option trading program. It was "first mate" Karson taking over for Preston one day on the newsletter who had a bad call on a chinese stock that cost me at least a thousand dollars the year before. I was dismayed to find out Karson's video was that of a some fast talking kid who didn't look over 24. and just pitching and pitching and pitching. Here's the last video that came in an email with the "midnight" deadline. After 20 or so of his pitching video links in the emails before. At first the pitch was like $1000 for the program, then "great deal" to halve that to $500. And now with this last email it's $97. No doubt, just an entry to more pushing for more "advanced" programs later on.. http://stockwizkid.kajabi.com/sp/6528-stock-wiz-kid And here's the latest email I got from one of Preston's seemingly new hires: """""""""""""""""""""""""" Hoping to speak with you directly- Pirate office Wayne Wiseman [waynew@tradersedgenetwork.com] Hi < >, Unfortunately, I have not been able to connect with you so I thought I send one last email. We know at some point you showed an interest in Option Trading by purchasing some of our materials. I'd like to spend a few minutes with you and talk about your trading and introduce you to a very unique training opportunity. Most of what we offer, is offered to the open public, any one can purchase our materials. We'd like to chat with you about entering into an Internship with a professional trader, one on one. Unlike our study materials, the Internships we offer are not opened to the general public. We find too many traders, trade to win, not necessarily trade to make money (if you think about it, there's a difference). An Internship is for those people who are serious about making a lot of money through their trading. For these folks, trading is not a hobby, but a business that they take very seriously. I'd like to invite you to give me a call. If this turns out not to be the right fit at this time, at least you'll know what to do to prepare for it down the road. I've set aside today and tomorrow to have these discussions. I hope to hear from you. Best Regards! A. Wayne Wiseman Director of Education Pirates office: 801-769-8983 """""""""""""""""""""""""""""""""""""""""""
Why do you care anyways! If their scam works for you then fine, so be it. Use their money wasting strategies and stop nagging about it on this forum. My God if, from now on you write more than one word about these vendors you are officially a charlatan of them. If they are that good, stop wasting time on this forum and start trading! Case closed feeman. You can whine on, but I'm done with it! Shaka , Frits
thx much for sharing. one of the most urgent effort that we need to put forward is, to publicize their borderline fraud in order to protect the unwary potential new traders who are so eager to make it.... it won't be easy for us but at the very least, we will be doing our best with whatever we have trying to protect them from those sleazy promotors so abundantly around nowadays. anyone has any bright idea how to systematically proceed, pls? thx everyone.
If one of the parasites becomes a sponsor on this site (without due diligence other than a cashable check) the naysayers will find their threads deleted or banned. Something to do with double standards Edit: And the word "moral" is not written anywhere on any dollar bill.
you are so right. mostly, even many professional trading sites contain parasite sponsors as suggested. the ad dollars are just too powerful for any entity to reject. the only avenue left, in my humble opinion, is to expose them each time that they come to our attention. it is mostly a thankless attempt on anyone's part. nevertheless, i personally just feel so very sad for newbies who are so overly eager to learn to trade and ready or not, just blindly jump into the trading pool with so many sharks all around. if you are one of the wannabe traders, you ought to give yourself at least six months to just sit in front of your trading screen and practise hitting the button. but even before this practical and real time practice, you ought to already have a set of working trading setups so as to prove your ability TO LEARN HOW TO TRADE, TO EXECUTE TRADES AT ENTRY AND EXIST WITH PREDEFINED CONDITIONS, TO MAINTAIN AND TO ADJUST TO ON GOING TRADE, AND EVEN MORE IMPORTANTLY, TO CONTROL YOUR EMOTION AND TRADING RISK--WHEN CERTAIN TRADES ARE GOING AGAINST YOU, just to name a few. happy trading everyone.
Everything these guys "teach" is available free on the internet or in books available to everyone. After getting ripped off a few times myself, I decided to approach every "mentor" who was advertising to see if they could provide audited statements of their trading profits. To a man, none of them could. I set up one guy (Ed Moore, mentioned above somewhere) with a ruse that I had ten guys who wanted to hire a mentor and would pay him his outrageous fee of $10,000 per person plus ongoing fees to mentor "us" to be profitable traders. He was chaffing at the bit to get that $100,000 grand. So I told him through his assistant (all emails) that the group wanted audited statements for three years demonstrating his profitability. The answer from his "assistant" was to speak to him personally, but he would not provide any statements. This is the same old crap that has been going around for years. The problem with this business is that it's like the CIA - if you have a good strategy to get the job done, it becomes a world class secret and no one is going to share it with you. But all the pieces are out there - it's just a matter of research, self education and simulation time. There are good people out there and good people usually will share their insight and give you good advice and perhaps point you in the right direction. My rule is to read everything, talk to everyone, ask a lot of questions, try every method WITHOUT PAYING i.e. free trials, and work on your setups. I've learned an enormous amount just from free trials. A couple were so good that I subscribed. Treat the business like you were going to medical school with discipline and self education. Although I have to say that med school was easier
I gotta laugh about Ed Moore,, I talked to him once,, He had the nerve to tell me what I was worth to him,, like in thousands,, in courses work, He also got busted and fined for advertising real trades that he didn;t actually make,, BUT my two cents on some others scammers,, How about Mark Cook,, Now here is a place you spend thousands,, I know I was a fool and did,, and got ripped off in person,, His course is crap,, and nothing he tells you will work, Not saying he can't trade his own account,, just saying he isn;t going to tell you anything,
@docholiday if it is not too bothering and painful, could you give us some insight as how you were attracted to such trading educational school/coaching, pls? there ought to be some way that everyone of us can do to protect others who sincerely wants to learn how to trade, from becoming fallen preys to those scums. i got read faced everytime thinking about how this group milk ten of thousands from innocent potential traders.... almost without any recourse. shame, shame, shame.
That's easy - don't pay for anything. Get a free trial. Ask for audited broker statements showing profitability. Get references who will also give you audited broker statements showing profitability. I know we never think of these common sense things. I certainly didn't. But if you were going to buy a new car which just came out on the market, wouldn't you want a test drive and get some stats of its performance? You have to realize that most of these "educators" have recanned stuff that is free on the internet and in books. No one is really going to "teach" you how to trade. A good mentor will show you exactly what he/she is doing and then have you repeat it successfully. That's really all it takes. Find that person and you have a good chance to achieve something worthwhile. I think BONES who is a sponsor on this board is one of those good mentors. You also have to be proactive and research yourself. As I said before, take all the free trials you can get. Follow them closely and learn what they're trying to accomplish. Try to reverse engineer some of the setups. Finding out what DOESN'T work is just as important as finding out what does work. That's why participating in free trials and studying carefully what they're doing is so valuable because a large majority of them are not consistently good traders. On the other hand, you may just run into one or two that are worthwhile. I've found a few - very few. I don't personally subscribe to anyone's signal or trade setup service, but I learned alot by just taking a free trial and then following up with their results. Once you're on their email list, they'll be sending you emails ad infinitum with their results. Another thing I have found useful is joining a few chatrooms (free ones of course), where traders like to draw on each other's experience and share theirs. Whatever you're looking to trade, make a few posts on forums like BigMike's or MyPivots asking about chatrooms. If you're a new trader, specifically ask about chatrooms which welcome new traders. Some of the more experienced trader chatrooms are not interested to answer a lot of questions from new traders. The most important thing is NOT TO PAY FOR ANYTHING. Use your noggin and get it for free! Ninja Trader Partners is a good source for vendors for all sorts of things. Try them all. Don't be afraid to learn something.
I've been at this learning game for a couple of years and was seriously contemplating doing the Daytrade2win courses, so can you please explain what's a scam about this company. I already know only to well about Traders International from first hand experience. Also just to help out, it'd be good to also get some reputable educators as well so I can sift through them. Thank you