That, sadly, says nothing. Seriously. MOST signals were unprofitable does not mean that the SUM of signals is unprofitable. THere are quite a number of trading approaches with a profitable percentage LOWER than 50% (heck, even lower than 25%) but with a gain/loss ratio that makes the end result have a positive outcome.Kishore is scam. He lives by teaching people, I think he rarely trades live. I purchased a Signal service from them, and guess what, most signals were unprofitable.
MAS reprimands Commerz Capital International and its director
Jul 07 2010 Global Press Service
The Monetary Authority of Singapore on July 5, 2010 reprimanded Commerz Capital International and Mansinghani Kishore Mirchumal, a director and 99 per cent shareholder of CCIPL, for their respective contraventions of section 22(1) of the Financial Advisers Act for holding themselves out to be a financial adviser without being a licensed financial adviser, exempt financial adviser, or person specified in the First Schedule to the Financial Advisers Act; and section 82(1) of the Securities and Futures Act for carrying on business or holding themselves out to be carrying on business in the regulated activity of fund management without being the holder of a capital markets services licence or otherwise exempted from the requirement to hold a capital markets services licence. Commerz Capital International had from the date of its cessation as an exempt financial adviser, exempt fund manager, and exempt corporate finance adviser, on August 24, 2009 to October 8, 2009, on its website at http://www.commerzcapital.biz, http://www.complinet.com/global/news/news/article.html?ref=133873&utm_source=twitterfeed&utm_medium=twitter
I attended his class/course last year.Cost me about RM 5000 (Ringgit Malaysia) = around USD 2 k.I'll just share my experience and its up to you guys whether or not he's a scam.The course took 2-3 days with one live trading night.
I was so exited first thing in the morning,lots of people were there.Some of them looked already successful driving lexus and stuff.When the class started,he wasn't there.Some other guy was running the show.I thought WTF?Then he said Kishore's gonna be a little late,thank god I said to myself.After like 30 min the man himself came and took over the show.Well I was thinking moon and stars you know all the happy thought of making easy money.....
So on to the story,for the first few hours he thought us all the basic stuff that you can get at babypips plus some sad bollywood kind of rags to riches story,how his dad died blablabla....ok I can take that,lots of old people were in the class also so I guess its important.
Then the good stuff...his systems.He gave like 8 or 9 systems for us to trade,some of it consist of trading bollinger bounces,some of it involved trading breakouts and some use moving average crosses...some secret huh....what?Raised eyebrows already?Wait till you read next...
I dont know this makes sense or not,but most of the system requires 150 pips of stop loss with no specific profit target.But I kept hearing him said his past student always closed position when seeing 1-2 pips profit....and traded 100-150 times a day...very strange indeed(to me laa)Why?Becoz the setup was difficult to find and there is a system where the setup is next to impossible...again ..for me laa...
On to the main event,live trading.....I thought all my confusions will sort out.There he was,sitting in front of us with eyes of an eagle waiting to snatch a preying trade.We waited patiently...if he clicks...we'll click...after 15 min waiting,then he clicks.....and the sound of multiple clicks suddenly barraging our ears....
So was it 20 pips?or 50 pips that we gunned down that night?Nononono.......it was 2 pips...........yes 2 frickin pips.......goes to our bags that night(the setup was 1 pips 30 cents)we earned 60 cents that night pheww only USD 1999.40 left to cover our cost....he then ask us aloud....ARE YOU PROFIT?Helplessly we answered YyYyyeessss.....he asked again ARE YOU HAPPY?Again we answered YyYyeeessss......and he never traded again that
night.... THE END
So that was my story.......was the guy's a piece of crap?I dont know but 1 thing for sure....he's one hell of a salesman......:cheesy::cheesy: