Discussion in 'Index Futures' started by JohnnyG, Sep 4, 2008.
Anybody with real experience trading with RS of Houston? Good? SCAM?
I have experience with both of these firms. I view some of these trading courses versus my life experiences, namely sports. I know of many excellent coaches that didn't have success on the playing field due to their lack of God given ability. However what makes them exceptional as coaches it that they had to have exceptional fundamentals and work ethic to compete with the more talented players. They stress the basics and you get a player who has the ability to start with and you then have an exceptional athlete. I have seen world class athletes who ruined lessor talented players due to their natural ability that others couldn't duplicate. With that said, I wouldn't dismiss a trading course solely on the basis of whether the trading commission hit them with a fine. Not good, but I believe you have to take more into account. I believe the RS of Houston course is very good and based on solid principals. I expect that Ed Moore's course offers value as well. I believe Mr. Moore has updated his material. The earlier material was a hodgepodge of trading material but no coherent step by step process to help a beginner become a successful trader, although Moore claimed he provided such. I believe you have to view trading in the same light any other profession or business. None of it is easy and requires a lot of work to make it. We all want overnight positive results. RS prints off charts in which the signals that meet the methodology are shown. No doubts some of this is done in hindsight, as you always get trades that are somewhat subjective. I am not aware of them claiming they are taking all of these signals or any of them for that matter. Maybe this changed after they were hit with the fine as I just became involved with this course. They have a live "go to meeting" continuing education each month for members when they call the trades in realtime and answer questions. THey are clear they are not live trading. This is not a mechanical system and they teach it is up to each trader to come up with their own results. In other words there is some discretion in terms of profit taking, how you handle stops etc. You might or might not take certain trades. Make sense to me.
These guys are accessable and provide lifetime support.
I have no affiliation with any of these firms other than as a customer. I am also not some successful trader. I have always wanted to become one and just began trading and working in some screentime. I am going slow with this. I also do not care for Ed Moore so I am not unbiased in this area. Like I said I think his material has value, but out of principal I would not purchase his new material, due to my past experience with him. Most of his chart updates involves himself patting himself on the back regarding how smart he is. The chart service itself was basically support resistance points versus fib numbers for the day or yesterday etc. No clearcut trade signals. To this day I do not undertand what the gameplan was to use this material and become a trader. Once the material was purchased his willingness to provide support was non-existent. These are my 2 cents for what they are worth.
Another glowing review from a one post shill.
Big surprise there! :eek:
RS of Houston does not have a good rep. As illustrated by their likely shill, here.
And the dumb shill answered a post from 11 months ago. He must be stupid. Maybe he answered his own post from last September. That's still stupid.
these are worth a read:
Fuck, they're straight-up crimnals! :eek:
From November 1998 until the present, Schoemmell and Thorkelsson, acting through an unincorporated entity known as the R.S. of Houston Workshop ("Workshop"), committed solicitation fraud while acting as commodity trading advisors. Schoemmell and Thorkelsson offered a trading course and methodology based on misrepresentations made on the internet and in a brochure that they traded Standard & Poors 500 equity index futures contracts ("S & P 500 futures") successfully for their own accounts using that methodology. However, neither Schoemmell nor Thorkelsson was a successful commodity trader. Schoemmell consistently suffered net trading losses in each of the six years he traded, and Thorkelsson made only an insignificant profit in one of several years he traded. As such, Schoemmell's and Thorkelsson's solicitations to actual and prospective customers were false, deceptive and misleading through their misstatement of facts material to the customers' decisions to purchase the trading workshop, in violation of Sections 4b(a)(i) and (iii) and 4o of the Act and Regulation 4.41(a).
Schoemmell and Thorkelsson also made statements on their web site and in a brochure sent to students and prospective students that gave purported hypothetical results of their trading methodology. In fact, however, Schoemmell and Thorkelsson's published futures trading results were based on after-the-fact selection of trades and entry and exit points. Therefore, they defrauded their clients and potential clients by failing to disclose the after-the-fact selection of trades and prices that rendered the trading results fictitious.
haha wow :eek:
that was an entertaining read
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