Need Help of a trading community.

Discussion in 'Educational Resources' started by MBfromLA, Dec 2, 2004.

  1. MBfromLA


    Please help. Two weeks ago I have signed up to a trading web site called , I don't mind trying new things and since they don't offer a free trial, I said oh well it's 200$ lets see how it is.

    Unfortunately I became a victim of the worst scam on the net. The room itself was terrible, lots of sarcasm, ignorance and lies.

    This is how it works. At the open they throw at you about 10 stocks,, example: XYZ buy 25 , sell 24.90. You get them all at 6:30 at the open, after that the job of the owner of the room is basically done he just looks at the charts and if one of them works nice he will say XYZ . That's it,, done, and the other once that didn't trigger or reversed,,noone cares about. And noone bothers to call the exits or analyze the market.

    At the end of the day, he sits down,, looks at the charts,,the once that worked he will pinpoint the every top and bottom of the chart as his potential exit, the once that didnt work,, he will take a one cent loss on or even brake even, or as if he wouldn't trade it at all,, ,, and of course he claims you would've made 11% in average if u traded his calls.

    As long as you are not blind you should be able to see the support and resistance levels on the charts, so basically his job is doing nothing,, considering the fact that those trades are generated by the computer.

    People in the chat, I would say 99% of them are desparate traders that keep failing anywhere else,, or newbies hoping to average thousands of profits per day. I'm not certain of this but there are nick names in the chat that are not legit,, meaning they just exist there as if it's a popular site but they are fake,, just to add traffic.

    Anyhow,, this is what happened......and this is the help i need...

    Today I was busy trading and I noticed some extraordinary comments in the room, one guy said "Me and my wife are hoping to make money here, we depend on this place, we pray god for this place to help us build our future" something like that...

    Sorry but i couldn't resist and said "i'm sorry for your and your wife for depending your life on the chat room". Immediately i was kicked out of the chat room, banned. My membership was canceled, refund for the entire month or the half month was denied. I was scammed , robbed and lied to.

    Is there something I can do to get a refund and prevent other people getting scammed at

    And by the way that Shay guy,,the owner of the place, won't hesitate to call someone a buthead if they don't agree with him, and would tell u some stupid story how his dad made him dig a hole with a shovel cuz he didn't agree with him. Pleae what can i do to get a refund and stop others for signing up with them. IT's not a matter of money, it's a matter of a principal,, thanks all..

    Best Regards,
  2. foe


  3. jnbadger


    Help picking a broker? Help changing a tire? what?

  4. What are you trading? Cards, coins, stamps, rare art, stocks, bonds, futures?

  5. You don't need any help. You are already doing the best thing possible with the situation, and that is informing the trading community by posting here. If you stop just one person from paying him then you will have been successful. More than one is a bonus.
  6. Were you so much disparate with your trading that you needed to sign up for that ? If this is the case, then let me advise you to leave trading immediately...before falling in the biggest scam ever : the market itself...

    No edge, no money.
  7. jnbadger


    Please disregard my last post. The entire text of your q wasn't there yet. just the subject line.

    This guy just seems like a dickhead. It's not your fault the guy has issues with his dad.

    I just went to the website to check it out, and I almost expect to see some paid programming for this product late sunday nights soon. He describes his system as "consistently profitable, sound technical anaysis system". Well christ, I would hope so. These clowns are everywhere.

    You might consider it a blessing that you got booted. Just eat the month's subscription, and stay out of pay chat rooms until you're able to easily discern between what's bullshit and and what's true guidence.

    Read as much as you can on this site. You'll learn a ton.

    IE: I just read about 20 pages of don bright's Opening Orders thread. It's only one strategy, but he'll answer any q's you have and he's not trying to sell you anything.

    Good Luck,

    We were all new at one time.

  8. If you paid by credit card you may be able to dispute the charge depending on what you agreed to when you joined since the site operator did not provide the month of service.
  9. I belive you can kiss your money goodbye unless you take it back by force, which i DON'T encourage you to do btw. Our justice system is too busy helping rish people and too expansive just to get back your 200$. Sad really... That's the world we live in. What can a single man do, except by trusting is anger and embracing the dark side... :confused: :eek:

    But yeah you do the right thing posting it here.

    There are just so much moth** fu**** in this buisness....
  10. I'd suggest you contact the AG of the state you live in and the one the website/company is dba in. I've had great success in getting an AG to help especially if you document in detail what transpired and include information provided by the business you are having trouble with.

    found this at trade2win website:

    "I subscribed to bestdaytrader for a month at its full price ie as a non-trialist. By religiously following Shays instructions I found that the massive profits that Shay claimed were not at all matched by my results. In fact there were no profits at all to speak of. Very often there were times when trades occured using Shays system that resulted in a loss which suprise suprise Shay simply ignored in his results table. Consequently I found their results to be completely inaccurate and misleading which can lead to loss of confidence in their product. Personally I do not equate the services of bestdaytrader with professionalism or accuracy. Of course that is just my independent opinion which one is entitled to express in any true democracy, and one that I would happily defend using watertight evidence in any court on this small planet. (I kept detailed records of all trades recommended during my time with them in a folder- it pays to be meticulous!)

    Incidentally I know several people who use the other service mentioned above ie and I have not heard a bad word said about it. Most I spoke to seem to like it. I have not used it myself but I might do so in future."
    posted by peugots

    Sometimes it pays to google first. If all you lost was the $200, you may have been lucky.


    ps-I bet, like me, a lot of the people in ET have been where you are now.
    #10     Dec 2, 2004