A list of all scam unregulated 3rd party educational vendors

Presented as actual trades, not historical. This was the response from the company's rep when questioned about it.

I don't know the people involved with this company, and I have not used the software. All I know is what I've seen.

And in my experience, if it looks like a duck and quacks like a duck...

But if in fact the developer of the software is a genius and will, for a fee, be happy to make any trader wealthy, then he at least needs to quickly fire anyone putting out his promotional materials before the SEC or FTC gets hold if it.

 

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

 

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.

 

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.

 

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.

 

Updated List

Rockwell trading
TraderInternational
DayTradeToWin
eMiniDayTrader.com
nexgen
priceactionroom.com
eminitradingcourse.com
blackjacktrader.com
Millenium-Traders
tradingonlinemadeeasy.com
easyeminitrade.com
vantagepointsoftwares.info
winborntraders.com
Mike Baghdady of Training Traders
http://www.3minutetrader.com/alerts/
http://www.2stocktrading.com/index.php
http://www.killingstocks.com/
bill duryea of ioamt.com
Rhythm of the Markets
Options Magic
TradQuest Systems
eminijunkie.com
Dave Wright "Wave Rider/Trend Catcher"
Bullseyetraders (Franz Shoar)
ShadowTraders (not the TDAmeritrade)
School of Trade SOT
http://www.james16group.us/
http://www.neweratrader.com/
ktrader.com Oliver Velez and Greg Capra, founders of Pristine.com and Mastertrader.com,iFundTrader.com
Woodies CCI Club
Larry Levin Secrets of Traders
ORDERFLOWANALYTICS.COM
the Pro Trading LLC Richard Regan
gorillagaps.com
3stepislandtrader.com
forex-trading-made-ez.com/
lmt-forex-formula.com/welcome.html
topdogtrading.com
tradingstarpro.com
robwessels.com elitetraders.nl
rs of houston
PureTick
bootcamp.renegadetrader.com mark deaton

 

I don't see the scam on Affinity, however, I've found that their business model is the same as



http://www.elitetrader.com/vb/showthread.php?threadid=182218

 

I do not normally post to forums, however I have heard that some information that I have distributed has been misinterpreted. My name is Brian from Robotic Trading Systems, the exclusive distributor of the CoolTrade software.

I have had many email correspondences with David, who goes by Lindq on this post. I met his wife at a networking event and spoke to her about the CoolTrade software. I gave her a report that began on August 18, 2011. She indicated that she would pass the report along to her husband.

The next day, I received an email from David asking many questions. I answered all of them to the best of my ability in an email, and I invited him to an online demo of the software so that I could better answer any additional questions that he might have.

I also sent him a link to a second CoolTrade simulated account (working in real time) so he could see additional reports. His reply was:
“Brian, none of this, as you know, is answering the question I posed regarding the list of trades being handed out in your promotional materials.__As regards a "system" running since Jan 26, you could have bought anything and made good money in this timeframe.__ As you could have with the "system" you are showing in your promotional materials.__ The S&P itself has made great gains in those timeframes._No need getting back to me with more canned responses._ I understand the score here.__ I will introduce myself at your next networking meeting, and we'll continue the conversation at that time._
David”
I did answer his question. He did not understand the answer, so instead of calling me and getting a full explanation, he now seems to have a “score” to settle?

This is when he stopped answering my emails and began this post. He then edited and posted my responses on this thread as follows:
"The strategy is a swing trade strategy and holds positions overnight or until they become profitable. "

My actual answer was: “The strategy is a swing trade strategy and holds positions overnight or until they become profitable. On the report she was given, the trader is holding approximately $7,500 in open trades as inventory.” For some reason, David left off the rest of my explanation?

He also posted “Were the results presented as hypothetical or actual?”
“Presented as actual trades, not historical. This was the response from the company's rep when questioned about it.”

My actual reply “Not historical. The report was_started_on 8/18/11 and uses a live feed from TD AmeriTrade. It is a simulated account that uses a real time feed.”

The reason I am answering this thread is because of David’s misleading post. Bloggers like bwolinsky stated:
“bwolinsky: Certainly a violation, though I doubt they're NFA registered. No disclaimers anywhere? If so then that would qualify.”
Robotic Trading Systems sells the CoolTrade software that automatically trades the stock market based on the users rules. At no time do we imply that we are financial advisors, so no, we are not NFA registered and there is no violation of any kind. Once you download the software, all transactions are strictly between the user and their broker partner.

Also the last page of EVERTHING we hand out says “Disclaimer: The example strategies are for demonstration purposes only. Robotic Trading Systems and CoolTrade do not make buy, sell or hold recommendations. Unique experiences and past performances do not guarantee future results.”

And BlueTrutle “Do you have proof he said this about real trades.” Again if he posted my entire reply “It is a simulated account that uses a real time feed.” There would be no confusion. And “Did you then use the software and lose money.” No, he has never even taken me up on an over the phone computer linked demo. I have invited him to either come into our office or have an online demo 5 times.

From my emails to David:

2/16/11: “I would be glad to give you a live demo via Join.me where you can view my computer and I can walk you through the front and back end of the system. It takes about 15 minutes.”

2/17/12: “I would be glad to give you a live demo via Join.me where you can view my computer and I can walk you through the front and back end of the system. It takes about 15 minutes.”

2/17/12: “I would be glad to do a demo for you so you can see exactly what the software is capable of. It takes about 15-20 minutes and can be done in front to your computer with me on the phone with you.”

2/21/12: “Give me a call at your earliest convenience and I will be glad to walk you though the front and back end of the system.”

2/21/12: “I would be more than happy to meet with you at the next marketing meeting, unless you would prefer to come by our office to see the trader working during market hours or I can also do an over the phone demo at your convenience.”

CoolTrade is not a scam, I am proud of the company. I don’t understand David’s animosity toward a product that he has never even seen?

He hides behind “My friend told me…” when it was actually him. I am being completely honest, and David is misleading the people of this fine post.

I would gladly give David, bwolinsky, BlueTrutle or anyone else who would like to see our fine product a demo of CoolTrade.

Thank you,
Brian
Robotic Trading Systems

PS. This will be my only post on this thread, as it is reserved for scams. If anyone would like to discuss CoolTrade, I will be happy to do so on the Strategies thread.