i recently pissed off a friend of a very close friend of mine. these people are mesmerized by the promises of 25% per month options trading riches. upon hearing this, i very firmly and not so politically correct explained they are being scammed and will end up losing thousands. i was then told , this guy only wants to help, and only makes them pay for a charting package ($120 per month). i was then persona non grata for trying to destroy their dreams. since a couple months passed, i learned that they must come up with 10k for the advanced course to really make the big bucks. this thing is like a cult or infomercial with planted people (imo) in the audience who have made it big. of course, i felt vindicated, but instead of them stopping (professional pilot) , they are moving ahead full blast. i cannot say much more because they will not even acknowledge me. i find myself at this point extremely pissed off now and worried that my buddy will follow in addition to the fact that i am coming up short finding dirt on this guy. the help i need from fellow eter's is.....has anyone heard of this guy (gary williams) and can point me to where some written documents can be found regarding what a scam this guy is? tia
Are you sure the name is right? I would think someone with something to sell would have a big website with flashing lights. A quick google search returns nothing obvious. I think its must be hard for some. They have to find a way to do this and still sleep at night. Sometimes I wish my morals weren't so high. I could put on seminars at $10k per stupid person. The high price somehow adds legitimacy to their claims.
You tried to help and should be commended for that. Now you just have to let them twist in the wind. The most dangerous combo in trading is ignorance and arrogance. They will be humbled all of us know that.
anything is possible regarding the name. they kinda quickly realized how much i was against the deal so info dried up quickly. i did see some message boards refer to that name. one of their points he originally made to me was how williams wants to stay out of the internet (this added to his legitimacy in their eyes). dandxg, good advice. i also received similar thoughts from some of my trading buddies today also. my problem is/was that i never backed down from anything my whole life . this one i will drop...must be getting more mature! thanks guys.
LOL, you sure it wasn't Larry Willaims? Maybe he's on this website Scam Artists Good luck with this one, I can almost guarantee you it's a losing battle ... kinda like telling your buddy what a skeeze his girlfriend is ... while she's coming on to you behind his back. JJ
I've heard of him. I have some friends of the family who fly back east to NC to take some advanced class, they paid 7200 for it. He has a mail order program that you buy audio cd's for 500. What they told me is that he basically goes over more in the mail order program than the class they attend. He strings them along telling them that they will make money if they do exactly what he does, but then he doesn't actually show exactly how he trades. He just kind of hints at chart setups using macd, stoch rsi, and adx.
and they will ultimately be taking in 25 % per month. lol lol lol. you hit on exactly what i was told....it really is a sin people get away with this whole selling a dream thing. maybe i am more mad that they told me to f____ off... anyway, thanks very much for the info! i will just watch from afar.
the person who does this website is also a scam artist. He will knock almost everyone, and point out "I have only found one thing that really makes money, and I just happen to be able to sell it to you." I have seen this guy and a couple others pretending to be helping, they are just more salesmen with a "dream."
It is late so I will try to be brief, but it will be hard. I have lots of mixed feelings about Gary. But first: - I trade for a living, MBA, etc. - but futures only - 5 yrs - I took his entire basic 5 session program three times (lots of info to digest in his 4-5 hour sessions) - took several one-off classes on advanced topics - took the advanced program ($7500) twice : 12 meetings, 4 hours each, 1 per month The good: - I use many of his basic teachings in my daily habits and strategies now, but totally differently and for futures, not options - amazing marketeer, self promoter, no one sells the dream of riches better than this guy, and I do mean NO ONE - extremely interesting and persuasive speaker - geniunely appears to want to help those in financial distress and believes that he can - massive amounts of info on trading options boiled down in lay terms - I have ZERO doubt he personally made millions trading options starting from nearly scratch. Seen his house and have several friends that know him well. Believe he made most in the late nineties. - I learned a ton from him that I still use today, including market timing, chart reading, advanced options strategies, numerous techniques and strategies, discipline, intensity etc. - generally teaches very conservative techniques - nothing too exotic or risky - stresses practice, practice, practice - overall, can't complain too much about the cost per hour of his training and overall value received The bad: - he has some serious ego and control problems that keep him from hearing student feedback - grossly over-estimates his ability to teach the "art" of trading that he has learned over the past 20 years to total trading newbies - he doesn't trade nearly as much as he use to and doesn't realized how dated much of his stuff is now - is the master of showing trades that would have worked after the fact - sometimes represents or implies that he took a trade that he didn't - we caught him many times contradicting himself - claims < 5% of his trades are losers (only after being confronted aggressively by several of us did he admit that he does not count small losing trades as losers) - is 110% against collaborating with other traders or varying from his rules - doesn't teach money management well at all - says cuts all losers immediately while also preaching patience and giving trades times to work by focusing on the indicators and not the price action resulting in every holding onto trades until it is too late. - does not teach fixed stop losses! - uses religion to build his credibility and customer base The ugly: - by nature of his style and word of mouth marketing, he has taken money from literally thousands of elderly (>60 yo) folks who don't have the money to lose over the past 10 yrs - I have interacted with probably hundred or so folks over the years that have taken his classes, NOT ONE achieved anywhere near the results he promised on a sustained basis (more than a year), many quit their jobs, lost their money and then had to go crawling back to work - he clearly and liberally threatens lawsuits agaist anyone that speaks out against him, he aggressively pursues sites and threads that discuss him and seems to be effective at getting them removed In sum, he teaches a lot of really really solid options basics and strategies but he does not teach enough for the average person of average wealth to make 5-25% a month consistently as he claims. And worse, he discourages you from trying anyone else, ever, for any reason. So, if your friend is one of the fortunate .1% that make it from rags to riches under Gary he will be happy. Otherwise, he will spend alot and learn alot, but in the end realize there is much else to learn - hopefully he will still have some money and self confidence left to do so. That's the only reason I survived GW. Disclaimer: the above represents my personal experiences and observations and beliefs. I cannot prove many of my comments, they are just highly educated guesses from a studious, thoughtful, and concerned former student of Gary Williams.