schooloftrade & James Wave

[teddy55]

I'm not a member of JJ's service but I've watched a couple of his vids. I think his stuff may have some merit but it seems extremely vague and not too specific. Just alot of handwaving. Would I ever part with $3700 or whatever it is his system costs?

Not just based on what I've seen in his videos, that's for sure! Someone that feels like they got ripped off by JJ needs to look at themself too and ask why they parted with money without any proof. Keep doing that and people will keep taking your money.

Another red flag is someone that won't offer a 30 day money back guarantee/60 day or whatever. Why would you ever pay to play there? When you do that, you should realize that there might be a reason why there is no refund offered because they know you'll want one? And they don't want to give you one. Not saying anything specific to SOT, just that's a general rule to go by.

I remember one of JJ's vids where he explains why he doesn't do a monthly membership fee and makes it one big payment at once. Well you can believe that if you want to but there's another possibility that if he charged $100 per month, people would cancel their subscription before they hit 37 months and he wouldn't make as much off them. But people probably prefer to believe the story line that charging a monthly membership fee discourages the "old" traders with tenure to not hang around anymore and help the new traders out.

 

[matthooper123]

I am a member of schooloftrade.com I love his teaching but there is no way you can shadow everything he does. But the information in his educational vids are great in the members area. I do go to the trade room on a reg basis but only to sharpen my skills to make sure I am seeing patterns correctly etc. I don't understand all the hate, he knows his stuff and he educates you. if you want to earn money without having to do anything for it in the markets I suggest you stop trading.

 

[LloydH]

matt, the point of this whole thread is that if you follow his trades you will loose money, the results he publicizes are fake because he trades in SIM and hides losing trades from view. If you like visiting his room to "sharpen your skills" I cannot understand why your would pay over $3000 just for that! We now have dozens of ex members all confirming SOT is a fraud, some who have been kicked out just like I was for asking too many questions. It's remarkable that you think he is so great, I guarantee you cannot show us any proof that your are making profits using his methods. Read some more :

http://united-business-servicing.pissedconsumer.com/www-schooloftrade-com-sot-joseph-james-20101025204102.html

I am a member of schooloftrade.com I love his teaching but there is no way you can shadow everything he does. But the information in his educational vids are great in the members area. I do go to the trade room on a reg basis but only to sharpen my skills to make sure I am seeing patterns correctly etc. I don't understand all the hate, he knows his stuff and he educates you. if you want to earn money without having to do anything for it in the markets I suggest you stop trading.

 

[matthooper123]

The information he provides on how to trade works. Anyone who trades blindly and just follows someone's trades deserves to lose money. You have to be educated. I'm not saying I'm a successful trader as yet but I do well. Well enough to relies that 3k is not much money when you are learning. I paid the 3k not for the trade room but for the information on how to trade. Most people who start trading will lose money because of their own mistakes most people will then try and blame someone else. I've spent over 15k in total learning how to trade and being mentored now I do well. so suck it up and don't waste your time hating go learn to trade

 

[LloydH]

Matt, I have seen it mentioned many times that anything JJ teaches you can be found freely on the web or in any good trading book that will cost you a very small amount. Read post #100 on this thread for one example.

JJ sells you training and prescribed trading methods that promise you huge profits if you follow his trade entries and exists precisely and use the indicators he supplies you to do this. In your last posy you say "Anyone who trades blindly and just follows someone's trades deserves to lose money". Are you saying you paid over $3000 to join SOT but never followed JJs trades??

The information he provides on how to trade works. Anyone who trades blindly and just follows someone's trades deserves to lose money. You have to be educated. I'm not saying I'm a successful trader as yet but I do well. Well enough to relies that 3k is not much money when you are learning. I paid the 3k not for the trade room but for the information on how to trade. Most people who start trading will lose money because of their own mistakes most people will then try and blame someone else. I've spent over 15k in total learning how to trade and being mentored now I do well. so suck it up and don't waste your time hating go learn to trade

 

[matthooper123]

I have him playing in the background to confirm what I'm looking at. Every trade I've made is 100% my doing and sometimes I will be looking at oil and I hear something happening on gold so I have a look and check it out. And yes everything in trading is available for free or in a good book the reason why I paid for it as it saves me time to search for a good book etc as time is money. I run a business and work long hours so I don't have that time I live in Australia and the time jj trades are perfect from about10pm till 2am roughly depending on day light savings etc. I say you put your passion into something else Lloyd as if you worked this hard on creating your own business instead of destroying someone else's you wouldn't care if this didn't work for you.

 

[LloydH]

Matt, you now openly admit you don't trade JJ's methods but you think SOT is great, your arguments sound deluded to me. This thread was created to warn others about JJ and the fraud he perpetrates at SOT, it is here to help others and build awareness of this scam. Frankly, the fact you like SOT playing in the background does not present any useful evidence to counter the case against SOT.

I have him playing in the background to confirm what I'm looking at. Every trade I've made is 100% my doing and sometimes I will be looking at oil and I hear something happening on gold so I have a look and check it out. And yes everything in trading is available for free or in a good book the reason why I paid for it as it saves me time to search for a good book etc as time is money. I run a business and work long hours so I don't have that time I live in Australia and the time jj trades are perfect from about10pm till 2am roughly depending on day light savings etc. I say you put your passion into something else Lloyd as if you worked this hard on creating your own business instead of destroying someone else's you wouldn't care if this didn't work for you.

 

[matthooper123]

I didn’t say I don’t trade his methods? I use exactly what he taught me in the course?? You cant try and trade calls in a trade room its 2 hard. There is a time delay as well so by the time you hear it, it can be 2 late.. I look for it for confirmation on patterns etc. You can have you own opinion and this is mine.. I love SOT. and without it I would not be earning as much $$ from trading. I think you should just deal with it your a obviously a bad trader and don’t have the discipline to stick it out. It takes years to master the markets you just need to learn that...

 

[LloydH]

Matt

When did you join SOT and how long have you been trading?

If you are now saying you trade using exactly what he taught you in the course this means you are watching for the same patterns and using the same entry and exit techniques for the trades. You will also be using his indicators to guide you and help you spot his patterns. If you are doing this properly it can mean only one thing, you will be taking the same trades JJ does and getting the same results.

If you are not doing this properly or doing something else then you are not trading SOT methods and naturally you will get different results because you are trading a different way.

The purpose of the trade calls JJ makes in his trade room are to assist new students in spotting the patterns an learning when to enter the trades correctly. Obviously the idea is that once you develop your skills and learn how to spot the patterns and read all the indicators correctly you will not need to listen to the trade call because you should already spot the trade signal yourself. This will of course avoid the issue you mention about it being too late by the time you hear it.

Now either you trade SOT methods or you do not. If you do then I guarantee you will lose money like countless others, 22 members on my blog for example. This is simple, compare the trades you have on your broker statement to the ones published on SOT's blog every day. If they are the same trades you will not have the same profit they show, I challenge you to prove otherwise. This means showing a verifiable broker statement detailing your comparable trades to SOT.

As to you other comments, this is standard bull we hear from all the fraudsters peddling a scam system, you never tried hard enough, it takes years, your just a rubbish trader blah blah blah. I tell you for sure I mastered SOT methods quickly because I am an extremely quick learner, this is why I was able to unravel his scam. I traded his system and methods 100% correctly and proved beyond doubt that the results SOT publish are fake, he trades in SIM and hides his losing trades.

Now we have reached this point it's time for you to show us some proof , let's see if you trade SOT methods or if you are just doing something else. If it is the later turns out to be the case then once again your comments do not present any useful evidence to counter the case against SOT.

I didn’t say I don’t trade his methods? I use exactly what he taught me in the course?? You cant try and trade calls in a trade room its 2 hard. There is a time delay as well so by the time you hear it, it can be 2 late.. I look for it for confirmation on patterns etc. You can have you own opinion and this is mine.. I love SOT. and without it I would not be earning as much $$ from trading. I think you should just deal with it your a obviously a bad trader and don’t have the discipline to stick it out. It takes years to master the markets you just need to learn that...

 

[matthooper123]

What proof do you want? Im not going to show you my trading results as that's a personal thing. I trade sot methods and they arnt sot methods as such as they have been around for years and years. JJ has put them into an easy to follow course that can educate you and then you can go make money. if your such a quck learner I'm sure you are a millionaire then as as you should know the quickest way to become a success is to copy someone who has done it!! I don't have the exact same results as jj as i trade a little longer time frames as scalping is hard to master as you would know. I aim for 10~20 ticks per trade per contract. With half contracts off at 10, 1/4 off at 20 and tten a runner. Means less trades but less stress and can mean more profit. But they are using patterns I've learned off sot. I've been a member since November last year and have been trading around 3 years. Since joining sot my profits have increased and Its because I've what I've learnt that's all I have to say about it.

 

[LloydH]

Matt, now it is clear you are trading using your own methods using different time frames I think we will leave it there.

What proof do you want? Im not going to show you my trading results as that's a personal thing. I trade sot methods and they arnt sot methods as such as they have been around for years and years. JJ has put them into an easy to follow course that can educate you and then you can go make money. if your such a quck learner I'm sure you are a millionaire then as as you should know the quickest way to become a success is to copy someone who has done it!! I don't have the exact same results as jj as i trade a little longer time frames as scalping is hard to master as you would know. I aim for 10~20 ticks per trade per contract. With half contracts off at 10, 1/4 off at 20 and tten a runner. Means less trades but less stress and can mean more profit. But they are using patterns I've learned off sot. I've been a member since November last year and have been trading around 3 years. Since joining sot my profits have increased and Its because I've what I've learnt that's all I have to say about it.

 

[Aragorn2]

What proof do you want? Im not going to show you my trading results as that's a personal thing. I trade sot methods and they arnt sot methods as such as they have been around for years and years. JJ has put them into an easy to follow course that can educate you and then you can go make money. if your such a quck learner I'm sure you are a millionaire then as as you should know the quickest way to become a success is to copy someone who has done it!! I don't have the exact same results as jj as i trade a little longer time frames as scalping is hard to master as you would know. I aim for 10~20 ticks per trade per contract. With half contracts off at 10, 1/4 off at 20 and tten a runner. Means less trades but less stress and can mean more profit. But they are using patterns I've learned off sot. I've been a member since November last year and have been trading around 3 years. Since joining sot my profits have increased and Its because I've what I've learnt that's all I have to say about it.

You have to be joking. This guy sounds like JJ incognito. His convoluted arguments are far too suspect to be credible. His comments on this thread have bolstered SOT and then retracts his use of the methodology. He says that he isn't a profitable trader yet has no problem shelling out almost $4,000 for a methodology he says has been around for years. He says, "the quickest way to become a success is to copy someone who has done it!!!" yet disregards that JJ is not a successful trader- he is a successful salesman. JJ makes his money from selling his stuff not from trading. This guy sounds far too much like JJ to lend any shred of credibility to his claims. He, by his own admission, is not successful yet offers up advice on how he trades and manages multiple contracts. He wants to downplay the cost by saying $3K is not alot of money... who says? That sounds like something JJ would want to say. Then he wants to propose the proper way to use the trade room as not to copy- again- something like JJ would say. I perceive thou dost protest too much for a simple beginning student of JJ since Nov. It would never take anyone that long to realize you have been scammed. Then the attacks to advise that Lloyd shouldn't be trading. That is not a comment a "normal" user of this forum would say. It is something JJ would say to downgrade Lloyd's credibility. Then he wants to lift the education as though that's what he's pushing. That's what JJ wants the perception to be- an education. It is not. It is garbage. Trust me people- This is JJ incognito.

 

[matthooper123]

Hang on a second i didnt say i wasnt a profitable trader.. i said that I am not successful trader yet.. To me being successful is earn 1 million plus per year trading... and I am not JJ I'm From Australia if you want you can even add me on Facebook... I will b sure to accept your request. Matt Hooper... my emai address is [email protected] And as for 3k it isnt alot of money if you get more money out if it than what it costs my return on investment has been great....

 

[Aragorn2]

You are a fraud. Your glib attempt to make this about semantics is yet another attempt to convolute the fact that you are not who you say that you are. A person who aspires to make $1 mil in trading per year is not going to be so unfathomably ignorant so as to be so wreckless with his money to spend it on a man who is unwilling to put his own money on the line to trade his own methodology. The grandiose goals to which you aspire are not supported by such a naive decision. To make $1 mil per year first and foremost requires making good decisions- and the decision to support Joseph James' School of Trade will never be seen as a step towards making good decisions. Your credibility to support a man who is a proven liar and who will stoop to the lows of deception by posing as a satisfied customer stems the tide of any hope of credibility you seek to garner. Joseph James and the School of Trade are scams. His only hope to continue to prey upon the unsuspecting who carelessly put their trust in him is to come out with the occasional new flavors of trading- a new signal; a new indicator; a new strategy; a new pattern; new automation.
http://www.aussiestockforums.com/forums/showthread.php?t=18722&page=2& please see post #26.

 

[matthooper123]

How could you say I am not who I say I am? I gave you my email address and my name add me I will even chat to you on Facebook.. Dont attack me for learning off someone you dont like... We all have a dream of making 1 million from trading and having that grand life style.. And it can be done ive seen it.. Learning never stops if you learn one thing from a course that makes you money shouldnt you be happy with that? I dont Scalp like JJ so i have adjusted what i have learnt to suit me... I can be in a trade for 3-5 days sometimes.... I am not a fraud and i am not trying to sell anything I just disagree with what has been written here..

 

[Aragorn2]

You say you "aim for 10-20 Ticks" and then you say you "can be in a trade for 3-5 days sometimes"?

 

[matthooper123]

I have a runner as I said. So I try and get the big moves with that.

 

[LloydH]

matt
I think we should make this very clear, you say "I just disagree with what has been written here" well I can tell you what has been written here by me is my exact experience with SOT & JJ, much of this is backed up with evidence, you cannot disagree with facts. You can disagree with me as to whether you like SOT or not but you cannot disagree on the proven facts surrounding SOT and the clear evidence that it is a scam.

It seems to me you found some useful pointers which you have then been able to apply to your own trading style and have seen improvements in your results. Hence you like SOT and you are not willing to entertain any bad press against SOT. You are certainly in a minority and I suspect the information you gleaned which brought you value is available in many other places for a lot less than $3600, so at best you paid way over the odds for the information that helped you.

Regardless, this does not mean SOT methods work, they do NOT. It certainly does not take away from the fact that JJ hides his losing trades and deceives his clients with false promises of huge profits based on manufactured results.

How could you say I am not who I say I am? I gave you my email address and my name add me I will even chat to you on Facebook.. Dont attack me for learning off someone you dont like... We all have a dream of making 1 million from trading and having that grand life style.. And it can be done ive seen it.. Learning never stops if you learn one thing from a course that makes you money shouldnt you be happy with that? I dont Scalp like JJ so i have adjusted what i have learnt to suit me... I can be in a trade for 3-5 days sometimes.... I am not a fraud and i am not trying to sell anything I just disagree with what has been written here..

 

[LloydH]

www.schooloftrade.com & James Wave Review: LEGAL ACTION PENDING : SCHOOLOFTRADE.COM

 

[cataquil]

I might have talked about members like Matt Hooper way back in the thread.

This is that there will be some which will remain in denial about the bare naked truth about JJ & SOT

Matt Hooper himself said he is very busy with a job and that he spent 15k on education. It sounds to
me like he has more money than sense. For him probably 3k is a drop in the ocean, however I can tell
you many very wealthy people would confirm...3k is alot of money...well i guess jj probably wants 5k now
but you get the point....

Matt Hooper didn't have time to get a few $20-$50 books or have time to search the internet for the
free information which JJ provides in his course. He learnt a few things and this is enough justification
for him that he did not totally waste his money. Much worse than the admission to himself that he got
conned is the horror of ever being seen as someone who complains. He always tries to see the good in
things even the darkest smellest piece of **** which JJ is. It can be a good thing to only see the good
things in life....like living in Disneyland and forgetting about the poverty and hunger in Africa. But at
the end of the day it is fake.

I recall how JJ keep stating that with your 4k membership you get free charts, free data which others
pay a monthly charge of $50 to $100 for. So you would be saving $600 to $1200 a year by subscribing
to SOT. Of course traders now get data and charts free with Ninjatrader and other trading platforms,
paying for data & charts is a reminant from the past, and the growth in forex trading with its free
platforms, the futures market knew they would have to stop charging for these things to compete.
So he claimed you only get it free with membership when it was free anyhow...there should be controls
for this type of deception....this is an example of the lows JJ will stoop to just to make a dirty buck.