schooloftrade & James Wave

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Lloyd I have noticed that under the important google keyword search
"schooloftrade review" this thread is still #1....however I notice that JJ has picked up
5ch**1oftrader3vi3w.c*m and r3vi3wsch**10ftrade.c*m...

he is obviously trying to kick these the bad reviews off the google high rankings.

One question, why not just file a complaint with the CFTC about this. I know the 2 guys
@ rsofhouston got fined thru this way. Aslo phoned up mirus to ask about schooloftrade,
said they were no good, and noticed soon after sot never appear in their education section.

Also another avenue for jj to get new suckers was to use www.onlinetradercentral.com and
do a presentation...it was great because in order to get questions from users there was no
way to do it but open up the public chat. As soon as the chat was open I posted the link to
this forum discussion...JJ then cancelled the chat but later reopened it and the punters were
asking about whether he trades live. Since this he has had no seminars for onlinetradercentral

I notice that the public chat was always disabled in JJ's live room, and the forum was cancelled.
There is no way for members to discuss the use of the strategies. JJ prefers to use isolation and
containment techniques to disempower his subscribers and try to keep them powerless to complain.

I tried and tried to get JJ to help me how to use his system to get these 20 tics, but he just got angry. He was obviously more worried about converting those on free trials. The trial members are so blown away by what they get for free, they think if they get this for life then it might be a good deal, until they find what is behind the curtain is worthless bunch of hogwash. JJ doesn't care about u as soon as he gets u to pay.
 
Re: schooloftrade.com & James Wave

lx384 said:
Dear JJ,

I guess this post is directed to the comments I made.

1) I work as a currency spot trader.

2) Yes, once I'm in the office, my platforms and charts are all LIVE and trigger ready. I don't even have a SIM account. WHY? Cos I'm ready to start! Operational errors like "accidently" clicking an order is NOT ACCEPTABLE for any trader. If you are making errors like this, please stay on your demo account. ALL the traders in my office open their LIVE account once they get into the office. NO one goes to the sim! People in my firm, and other banks/firms that I know. So please don't make what you're doing sound like a norm. Yes, I agree it is a 'Safe' thing for newbies to do. But in the professional relam, that's not the case.

3) I know you use ninja trader as your charting platform. If you go to their indicator downloads page, you'll be able to get a LIVE ALARM ECON DATA INDICATOR WHICH WILL SHOW YOU EVERY LOW,MED,HIGH DATA FOR THAT DAY. Please go and download that and stop hawking your alarm indicator which is 3rd class compared to that. I feel that some of your indicators though helpful, promotes laziness.

3) I have not complained about not having success. I wouldn't be working in a trading firm if Í'm not successful at what I do. I'm here to share my experiences and what I've seen.

4) I come into forums like this when I'm taking a break from trading to read interesting stuff like this thread and to share my experiences. That's how I 'give back'.

5) I met up with one top technical guru the other day. And he mentioned one thing that I totally agree. Those who hawk their systems and products can only sell it to those on the street (those that are not working in a trading firm/bank, or newbies). But it will never fly with the professionals because we know the right questions to ask. NO ONE, and I MEAN NO ONE who has an edge will be willing to sell it. PERIOD. Even if someone does, it'll probably only be a fraction of the entire 'edge' or when the edge is coming to the end of its life.

6) Why did I join the trial you might ask. I did it because a trader can never stop learning. I wanted to see what else is out there. Did I learn anything? Yes I did, JJ. I changed from using P&F charts to range charts on top of my time charts. But that's about it. The things you talk about discipline, stops, etc, can be found in books which you doesn't cost $3000+. In fact, I can find most stuff online for FREE, less your prop indicators.

7) I feel that you should come out to quash the accusations made against you instead of stirring up more trouble for yourself. Like some of the members asked. SHOW us your REAL MONEY LIVE ACCOUNT STATEMENT with regards to what you've traded in the 'trading room'. Show us the trade you made in Llyodh's youtube example. Simple as that, and no one will question you anymore. If not, Lloydh, please take action. I know of a trading educator who got sued for misrepresenting his education status. HE LOST and had to repay all his previous students. This is a more serious case I feel.
Click to expand...

AFR
as a new trader where can somone begin?
 
cataquil, I have posted my complaint against SOT with the CFTC today. I have placed a copy of my complaint on my BLOG & the SOT Review Facebook page for those interested.

http://jameswavereview.blogspot.com/
http://www.facebook.com/pages/schooloftradecom-Review/126853970701406

or you can get the file directly here:
http://divshare.com/download/13115098-881

I also set-up a twitter site for SOT Review as I was also very annoyed at the way SOT try and isolate their members and stop them communicating with each other. JJ knows if members are able to chat with each other it will spell trouble for him! Here is the link to the site : http://twitter.com/SOTReview

I noticed today SOT have a new homepage and they also put their prices up! It will now cost you $3799 , this guy is unbelievable, I am amazed how they think they can just keep peddling this scam.



cataquil said:
Lloyd I have noticed that under the important google keyword search
"schooloftrade review" this thread is still #1....however I notice that JJ has picked up
5ch**1oftrader3vi3w.c*m and r3vi3wsch**10ftrade.c*m...

he is obviously trying to kick these the bad reviews off the google high rankings.

One question, why not just file a complaint with the CFTC about this. I know the 2 guys
@ rsofhouston got fined thru this way. Aslo phoned up mirus to ask about schooloftrade,
said they were no good, and noticed soon after sot never appear in their education section.

Also another avenue for jj to get new suckers was to use www.onlinetradercentral.com and
do a presentation...it was great because in order to get questions from users there was no
way to do it but open up the public chat. As soon as the chat was open I posted the link to
this forum discussion...JJ then cancelled the chat but later reopened it and the punters were
asking about whether he trades live. Since this he has had no seminars for onlinetradercentral

I notice that the public chat was always disabled in JJ's live room, and the forum was cancelled.
There is no way for members to discuss the use of the strategies. JJ prefers to use isolation and
containment techniques to disempower his subscribers and try to keep them powerless to complain.

I tried and tried to get JJ to help me how to use his system to get these 20 tics, but he just got angry. He was obviously more worried about converting those on free trials. The trial members are so blown away by what they get for free, they think if they get this for life then it might be a good deal, until they find what is behind the curtain is worthless bunch of hogwash. JJ doesn't care about u as soon as he gets u to pay.
Click to expand...
 
i just saw very interesting, BEFORE when I typed schooloftrade in google I would get shooloftrade scam as an option, I dont know? Wonder whats happened?
 
newt24, I can only assume the link lost ranking with google and they update these prompts based on number of clicks or something similar. It is a shame to see this removed I agree. Perhaps we need more people to actually type this search into google "schooloftrade.com scam" and it will return!

newt24 said:
i just saw very interesting, BEFORE when I typed schooloftrade in google I would get shooloftrade scam as an option, I dont know? Wonder whats happened?
Click to expand...
 
Here we have an audio clip captured live from the SOT trade room. In this clip you can witness a classic example of how JJ hides his losing trades. This is one of many but clearly shows us how JJ works.

Check out the audio here :

You can also get a copy of the audio clip from my blog : http://jameswavereview.blogspot.com/

JJ has lots of tricks he uses which I think were explained very well by a recent trial member of www.schooloftrade.com in his comments placed on the pissed consumer thread :

http://www.pissedconsumer.com/index...+not+related+to+the+topic,+it+will+be+deleted.

I think plenty of evidence is now coming out against JJ and SOT.

Joseph James it may be time for you to start considering turning yourself into the authorities? I know from all the emails I am now getting that it seems an angry mob of your victims is starting to gather !


cunparis said:
But the burden is on you to prove there is a fraud. There is no burden on him to prove his innocence.

You really should talk to a lawyer about this.

How much did you lose? I doubt you lost enough to justify the time & expenses of proving this. So the best thing is probably to consider it a lesson learned and move on. I got burned too. If you like warning others I think that is commendable. But if it's taking up all your time and preventing you from moving on then there is a cost. Face it trading is a business about pursuing dreams and it's not hard for a dishonest person to get new customers every day. People are just begging to get ripped off chasing their dreams.
Click to expand...
 
Joseph James is a waste of time. (tried his trial for 1 day) Break outs on 4 range charts and two step retracments on 21 or 35 range charts. The method that he teaches is garbage, the idea of risking the same on a stop loss as a profit and using targets will blow your account out folks. You can have a 40% win ratio if you let them run, is it easy to do? Nope took me 7 years to finally get it. Like another said, making 2,000 grand a day and your selling it? . btw if there were that many trading the cl with a 5 tick stop loss then why are they not getting run over with a stop loss that even a smaller account like mine can take them out by ramming them. Save your money and learn without any indicators, once your can do that add to the mix. Keep it simple and dont follow any people on the net. None of them can trade just sell services and newsletters
 
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Now we have dozens and dozens of people documenting the truth about www.schooloftrade.com and confirming JJ is a fraud yet my complaint to the CFTC appears to have fallen on deaf ears! I have now filed the complaint twice and disappointingly I have not even received any acknowledgment from the CFTC for these complaints. At this stage is seems like the CFTC complaint process is a sham because I have no information, feedback or responses from them whatsoever! Does anybody know how to get some action on this?
 
Going to the CFTC is no doubt a waste of time and effort on your behalf. These so called self appointed market guru's operate under what is known as "for educational purposes only" Basically
all they are doing is marketing their opinion on how to extract profits from the market. How many
books were published on market timing and trading that the author has marketed as a get rich scheme that have little or no value to the buyer.
Bottom line is that unless multi-month statements can be provided and documented as to the profitability of any trading system it should be cosidered nothing more than spam.
 
Seems like its OK to con and defraud in financial services as long as you pretend to be an "educator". In most industries it is illegal to engage in misleading or deceptive practices during the process of selling your products and services to the consumer.

Don't you need qualifications to be a teacher ? Perhaps this loophole could be closed by introducing regulation for anyone badging themselves as an "educator" in financial services.

In the case of SOT, the regulator would clearly be able to see the course content is mostly built up of make believe numbers and cleverly crafted deception and a hefty dose of lies, outrageous claims of exceptional performance and profitability for the end user.

Perhaps the CFTC should forward my complaint to batman and see if he can help !

wistundra said:
Going to the CFTC is no doubt a waste of time and effort on your behalf. These so called self appointed market guru's operate under what is known as "for educational purposes only" Basically
all they are doing is marketing their opinion on how to extract profits from the market. How many
books were published on market timing and trading that the author has marketed as a get rich scheme that have little or no value to the buyer.
Bottom line is that unless multi-month statements can be provided and documented as to the profitability of any trading system it should be cosidered nothing more than spam.
Click to expand...
 
lol, they now have a autotrader, poor newbies think the results are good, but its just as bad as the whole SOT trading
 
yeah he was talking about the autotrader long ago, however the final step in the strategy to decide to enter the trade is an unquantifyable 'flurry of activity" on the Time and Sales window. This flurry could be orders to go in the direction of the breakout or to reverse off the high or low....put that into an autotrader you got disaster...SOT is good at deception so they will spin it to suit them and it is only really for marketing purposes anyhow.

the SOT secret sauce entry technique is such a dam con...when you are entering a Crude trade the price is jumping around alot to fast to use it anyhow.

We got to get this thread back up the good rankings.

This is a "School of Trade review" "schooloftrade review" "schooloftrade.com review"

be sure to search for "School of trade scam" and perhaps google will add it to the auto-suggestion

at least I have not seen jj doing any presentations for broker's education, ninjatrader or other online futures education presentations services.
 
Here´s my personal experience (just posted this on a consumer review website)...
I enrolled on the 3 week trial and after several days i became pretty suspicious that jj´s entry price was always 4-5 ticks inside where the market was trading at the time he says he is entering. I asked many times for him to explain how he is doing this, if he´s using limit stops to enter, and if so then the pace of tape or presence of big money buyers/sellers is irrelevant to his entry as his order is already in the market. He never answered any of my qns re:entry price. I then asked him to show me the DOM or the trade entry screen before entering the trade so i could see the process and stated that i would pay the 4k usd to join immediately if he would show me one trade with the trade entry mgt screen displayed before he enters the trade. He completely ignored these requests. I asked again how he was able to beat the market price by 5 ticks EVERY time - to please explain to help me understand and he said that i was annoying him and then booted me out of the trade room! The only logical conclusion is that he´s trading in simulation and although there´s probably a lot of useful stuff in the membership for beginners on trend lines, moving averages, patterns, use of support and resistance, momentum and other indicators etc much of this information is available in other places for free or much cheaper than 4k usd and his claims about trading live and making huge profits every day appear to be false.
 
EXACTLY WHAT I USED TO ASK when i did the free trial of the nut and shell game show. The TMWindow always only appeared AFTER a winning trade was under way,..NO SOONER.
and all that blabbing and blabbing and tap dancing and spinning dinner plates on sticks sure gets old quick!, lol "come on crudesters" .lol
Was he bragging about his condo in Mexico again today?.lol
 
Last edited by a moderator:
lloyd,

frankly you're in a loosing mindset of a zone, spending this much time over a couple grand? put this energy into learning to trade and get rid of all your negativity. only a completely confused trader would try and make money in a trading room to begin with. here is a fact......until you learn to control your emotions you will NEVER be a consistently profitable trader. this crusade is eating you alive man. ....you want to learn how to trade like a professional? start acting like one. are you going to be miffed about every trade that goes against you? upset with every trader that has taken money from your account and has added it to theirs? are we going to see you cruising around wall street with a carton of eggs?.....let go man....
 
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