Yourtradingroom.com Is it a scam?

traderman1

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I have been receiving spam from yourtradingroom com. Slick website with heavy marketing.
Anyone know anything about them? Anyone using them? Looks like a scam "educational" site but would like to hear any reviews
 
I know a bit about yourtradingroom[dot]com and its good site i think.
You might just have activated the email sending to your mail while you where registering on them.
 
I know a bit about yourtradingroom[dot]com and its good site i think.
You might just have activated the email sending to your mail while you where registering on them.

Anywhere where I can see some results from the program? It looks slick and talks about education a lot but NO RESULTS ANYWHERE from its trading room.
You would think that a trading room site would publish daily stats and results.
Unless it was a scam
 
I don't think this is a spam site.
Usually the marketing staff of the website sends spam messages to different people just for the sake of the advertisement you can declare the message bit I don't think that this is justice to declare the whole site as a spam
 
There is a thread here about LTG Goldrock or as it is sometimes called Live Trader Global. I think the reviews are pretty much 100% negative. The guys have all lost money with them or have stopped trading completely.

Regarding the other firm I havnt heard of them but can check for you. I dont understand why you would pay someone to do this. If you think something is dodgy just have nothing to do with them.
 
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Why o why o why, do people even consider these sites, trade for yourself fsk, trade your methods, your system, ignore all else, blame yourself, congratulate yourself. Its not rocket science, although many would have you believe that.

Or am I just being padantic, nah, if you have to "seek" anybody elses opinion before you trade, perhaps your in the wrong job.

Just my 2 penneth fwiw
 
:idea:There results seem good for what I've read but I still it doesn't give any assurance for future results.It's good to ask questions and I've been reading things such as: 1. Where, exactly, will my money be? 2. How much of my money would go for commissions, management fees and the like? 3. How can I liquidate (ie. sell the item I'd be investing in) if and when I decide I want my money? 4. If disputes should arise, how can they be resolved? Find out whether the Better Business Bureau has complaints on file but the absence of local complaints doesn't necessarily mean a firm or individual is good. as you could be the first victimin town, or that the other victims have been too embarrassed to report their losses. Check to see if your city or state has a consumer protection agnecy. Many do . If you're not sure what agency to call, a good place to start is the National Fraud Information Center (NFIC), a service provided by the National Consumers League. You can call on toll free number (800-876-7060) Contact Regulators who are those which trade in futures contracts and options on futures contracts are regulated by the Commodity Futures Trading Commission, a federal agency, and by National Futures Association (NFA). They maintain a database of futures-related disciplinary information which investors can access by calling the Disciplinary Information Access Line at 800-676-4NFA. You can also conduct background checks by accessing NFA's online Background Affiliation Information Center (BASIC) or NFA's web site www.nfa.futures.org. They say any trading organisation who is not registered with the NFA is already a warning bell and best to not join anyone who is not registered with NFA. The amount of information they had was incredible and I actually downloaded their entire legislation and it's just excellent (half a packet of printing paper thick of info) and they tell you everything including who to talk to and start with. You can even report scams to them. I'm going to ask the trading companies I've been asking questions about if they're registered by the NFA, and if they say yes, I have to ask for their registration number and if it's all checked up and true and they are not black listed and are good with NFA then it will mean green lights, but if they lie and give me a false number with their name or otherwise say they're not registered then I am going to not join them.
 
:idea::clap:also.... "Where to Turn for Help"..." If you suspect that you are being scammed, have information regarding the offer or sale of High Yield Investment Programs HYIPs or simply want to talk through an investment that seems a little too good to be true, call FINRA at (240) 386-4357 or file a complaint or question using the FINRA's online Investor Complaint Center. You may also contact FINRA's Office of the Whistleblower to report potentially fraudulent or illegal activity by submitting a tip at [email protected] or by calling 1-886-96-FINRA (1-866-963-4672). International investors should similarly contact their home country securities regulator. Visit the website of the International Organization of Securities Commissions (IOSCO) to get contact information. " quoted from FINRA website
 
You do realise that even a properly regulated company is unlikely to make you money? Being regulated doesn't guarantee profitability it just means you may be compensated if they disappear with your money. If they lose your money in bad trades then it's tough luck.

As for their published results are they audited or independently confirmed? Going back to LTG one of the big complaints people made was that their published results were miles away from what their customers were achieving.
 
(y)Well, I just read a reply and found that you popped my bubble saying that these organisations don't guarantee a good company and they may be able to help afterward with trying to get your money back. Thanks for your comment pboyles because i'd rather my bubble be popped than my bank account.
 
(y)Well, I just read a reply and found that you popped my bubble saying that these organisations don't guarantee a good company and they may be able to help afterward with trying to get your money back. Thanks for your comment pboyles because i'd rather my bubble be popped than my bank account.

A good example is Montague Pittman who were an advisory/brokerage service. Basically they gave you trade recommendations and then made the trades for you on your account. They were FSA regulated and were a properly registered business with Companies House. They attended many trading expos and the like and had a large sales team. However it seems a lot of people lost money, there was an investigation and they went into liquidation and disappeared.


http://www.trade2win.com/boards/brokerages/49236-montague-pitman-4.html
http://business.timesonline.co.uk/tol/business/markets/article7009030.ece

http://www.fsa.gov.uk/pages/Library/Communication/PR/2010/020.shtml
 
:clover:Can you please tell me what this means then? I don't know if this is going to make much of a change but I thought to copy and paste it here for you so you can read it and tell me what you think. I really appreciate you sharing your opinion as I have no idea about these things and your information is invaluable. Thank you:clover:.
QUOTED FROM FSA:
NFA prepares to receive daily trading reports from Forex Dealer Members
National Futures Association's Board of Directors recently approved new NFA Compliance Rule 2-48 which will require all Forex Dealer Members (FDMs) to file a daily electronic report of trade data with NFA. The data will be filed electronically using NFA's newly developed Forex Transaction Review System.

"Since each FDM operates its own market for its customers and is the counterparty to each transaction, there is both the ability and the incentive to manipulate prices and/or control when orders are executed," said Regina Thoele, senior vice-president of Compliance at NFA. "Our Business Conduct Committee has already issued a Complaint against one of our FDMs for programming its trading platform to favor the firm instead of the customer when price slippage occurs. We believe that a comprehensive study of the trading activities of all of our FDMs is necessary to protect retail investors."

The new system has been designed to gather and process data from each of NFA's FDMs on a daily basis. The information submitted by the FDMs will include:

All order transaction records;
A list of executed trades;
A list of all customers on the first day of reporting, with any changes being reported daily;
A list of all money managers on the first day of reporting, with any changes being reported daily;
A list identifying all customers being managed by a particular money manager on the first day of reporting, with any changes being reported daily;
A list of all price adjustments made by the FDM; and
A list of any unusual events, such as a system outage or "fast market".
"We have worked closely with our Forex Dealer Members throughout the development of the system," said Tim McHenry, director of Risk Management and one of the project's leaders. "We hope to begin a pilot program with some of them within the next few weeks."

The system will analyze all of the data and create exception reports that identify potential price manipulations and problematic patterns of trading activity.

"We have developed this system to provide NFA staff with a method of regularly monitoring trade information and identifying unusual or suspicious trends," said Regina Thoele, senior vice-president of Compliance at NFA. "Ultimately, this will bring greater transparency and greater customer protection to the retail off-exchange forex markets."

Pending CFTC approval of NFA Compliance Rule 2-48, NFA has tentatively set February 4, 2011 as the effective date of the new rule and the first day that FDMs will be required to submit their daily reports.
 
:clover:Can you please tell me what this means then? I don't know if this is going to make much of a change but I thought to copy and paste it here for you so you can read it and tell me what you think. I really appreciate you sharing your opinion as I have no idea about these things and your information is invaluable. Thank you:clover:.
QUOTED FROM FSA:
NFA prepares to receive daily trading reports from Forex Dealer Members
National Futures Association's Board of Directors recently approved new NFA Compliance Rule 2-48 which will require all Forex Dealer Members (FDMs) to file a daily electronic report of trade data with NFA. The data will be filed electronically using NFA's newly developed Forex Transaction Review System.

"Since each FDM operates its own market for its customers and is the counterparty to each transaction, there is both the ability and the incentive to manipulate prices and/or control when orders are executed," said Regina Thoele, senior vice-president of Compliance at NFA. "Our Business Conduct Committee has already issued a Complaint against one of our FDMs for programming its trading platform to favor the firm instead of the customer when price slippage occurs. We believe that a comprehensive study of the trading activities of all of our FDMs is necessary to protect retail investors."

The new system has been designed to gather and process data from each of NFA's FDMs on a daily basis. The information submitted by the FDMs will include:

All order transaction records;
A list of executed trades;
A list of all customers on the first day of reporting, with any changes being reported daily;
A list of all money managers on the first day of reporting, with any changes being reported daily;
A list identifying all customers being managed by a particular money manager on the first day of reporting, with any changes being reported daily;
A list of all price adjustments made by the FDM; and
A list of any unusual events, such as a system outage or "fast market".
"We have worked closely with our Forex Dealer Members throughout the development of the system," said Tim McHenry, director of Risk Management and one of the project's leaders. "We hope to begin a pilot program with some of them within the next few weeks."

The system will analyze all of the data and create exception reports that identify potential price manipulations and problematic patterns of trading activity.

"We have developed this system to provide NFA staff with a method of regularly monitoring trade information and identifying unusual or suspicious trends," said Regina Thoele, senior vice-president of Compliance at NFA. "Ultimately, this will bring greater transparency and greater customer protection to the retail off-exchange forex markets."

Pending CFTC approval of NFA Compliance Rule 2-48, NFA has tentatively set February 4, 2011 as the effective date of the new rule and the first day that FDMs will be required to submit their daily reports.

That is referring to forex brokers manipulating prices in their favour. In other words if you buy at a certain price they will give you a slightly worse price by saying there was 'slippage'. It has nothing to do with signal or advisory services having to submit their trades for auditing.
 
Why o why o why, do people even consider these sites...
Ah, the puritan argument. Because they offer something that the punter wants or thinks (s)he needs. Think about the sex trade. Now stop thinking about it and get on with your work...
trade your methods, your system, ignore all else...
That works only if you have a method/system! If you don't, or if yours doesn't work, then you will be looking around and you will see all these sites with their whizzbang methods which will in fact vary between OK and useless and the people operating them will vary between OK and fraudulent. Also a lot of people are using methods which are just on the edge of profitability so they want a bit more and again look for alternatives. There are hundreds out there, priced from £20 to thousands. I've bought several - at the lower end of the spectrum! and tried them in my testbed. Most work to some extent. I'm not going to share my research here.

The only part of this that I don't get is - why ask a forum like this? If the sum involved is insignificant, just do it. If it is large, would you really let the matter be decided on opinions expressed here?
 
That is referring to forex brokers manipulating prices in their favour. In other words if you buy at a certain price they will give you a slightly worse price by saying there was 'slippage'. It has nothing to do with signal or advisory services having to submit their trades for auditing.

Thank you for clarifying that.
 
YTR As they call themselves for short.

They are a legitimate company. However a lack of trading results as I have heard from people who have been or are with them now has turned me right off the product. A trading education is great and it's awesome that they are pushing that. But I have to question If their trading room isn't producing results is the education any good? Although I must admit they do have a sleak sales and marketing team which had almost had me signing the dotted line.

I was silly enough to do it once with LTG Goldrock or Live Trader Global it's the same company either way.... But I wont go into that on this thread.

But bottom line I think companies like the ones mentioned above are asking for large upfront fees for the simple reason that once you have paid them they dont expect to retain you as a client.

The simple lesson that I have learnt is to be a bit savvy look about at other products. Especially dont let price be the deciding factor on what product to go with from my experience. Know the right questions to ask, don't be fooled by smooth sales people, ensure that the service that you are signing up with is right for you.

I hope that helps :)

Lars
 
Hi All
Very helpful thread,
I am looking at both LTG and YTR may just tip toe away into the shadows lol.
Well back to educating myself on how trading works.

Trade well
LJS
 
They are a legitimate company. However a lack of trading results as I have heard from people who have been or are with them now has turned me right off the product. A trading education is great and it's awesome that they are pushing that. But I have to question If their trading room isn't producing results is the education any good? Although I must admit they do have a sleak sales and marketing team which had almost had me signing the dotted line.

I was silly enough to do it once with LTG Goldrock or Live Trader Global it's the same company either way.... But I wont go into that on this thread.


Lars

'If their trading room isn't producing results is the education any good? '

I have heard that their results are not good.
 
There are a lot of scammers out there. Mostly people saying they will "educate" you on their system and how they work. Well the education part either is only when they are ready to give up and get out of the business, or just do not know how to really trade. What you really would like to look for in an advisory service is someone to teach you the psychology of trading and the "rules" that you should follow. Everyone can make money in trading even if you have a 30% win ratio if you follow a certain set of rules and r/r. But most importantly keep those rules and do it every single trade!! The advisory, if good is great! You can make a ton of money following a good trader. But eventually you will be just as good on your own style of trading. That is what I teach on my website. I provide great trades, and definitely profitable, however, it is mostly psychological on your own part to why you can or can not make money trading. It is easier also for people to follow a professional who says "get in, get out" than their own thinking. At least with following someone you do not question the trade like you would question your own. Emotions are out of the equation at that point, and your trading becomes less stressful. With less stress comes more profits!
 
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