Rockwell Trading

pboyles

Legendary member
8,072 1,301
Thanks for emailing me Satya! The link to the full story about the Rockwell Trading Scam is already on this thread. A few days ago I also posted the live recording of me uncovering their scam during their webinar of November 1st 2010 . You can find it here on youtube:
Feel free to forward the story and/or the vdo to your trading buddies (y)! If you have any questions, my email is in the article and the vdo so feel free to contact me.

Shaka,

Stirf

Do you have video of any of their failed trades which they later claimed were profitable?
 

Stirf

Active member
109 7
To pboyles.

Hi pboyles,

Thanks for your reply:)! They just don’t show their losing trades! I wrote it down in my post on the internet as well, but in short it comes down to this.

Over the week (Mon. through Thu.) they trade in their “live trading support room”. By the way, I haven’t seen one, no not ONE live trade during my twelve month experience with them. They just mark entry and exit points on the chart, you see something of that in the vdo. Anyways during that week they do have winning trades, but in the end their losses are always bigger than the profits.

At the end of the week (Saturday) they send you the week in review. In that review they skip about 90% of the losing trades they had that week. So unless you record all of their trades (like I did) you think they made a profit that week! You can read in the article that the difference between what they actually realized and what they communicate in their week in review adds up to more then $3250,- per contract in just four weeks! This is excluding brokerage, which will make the difference only bigger.

So it’s not a matter of failing trades which they claim to be profitable. They just don’t show their losses. And when I confronted them with that (see vdo) I got banned.

If you have any questions, don’t hesitate to contact me. My email is in the vdo and in the article as well.

Shaka(y),

Stirf
 

bedsit

Experienced member
1,794 165
Re: Beginners and seminars/coaches

Especially if you're new to the business watch out for scams!

We need to put an end to the practices of such companies!

Shaka,

Stirf

Nice post Stirf.(y)

It seems there are more scammers than genuine trainers. The industry is not properly regulated and it's easy to start training traders. The best way for proper trainers would be if they can provide a record of at least 3 years consistently profitable trading.

PS I can't see banks employing a trader without checking their trading record. Why should the training be any different? - IMO it would be beneficial to successful traders who like to get some income from training as well. Also it would help the trainees to choose the right trainer.
 
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pboyles

Legendary member
8,072 1,301
OK I understand, I was watching it on my iPhone so I couldn't really see what was on the screen. I did notice how it went quiet and then they booted you out.

I seem to recall the SEC prosecuted a company for faking trading room results, must have a look for you. I will post if I find the case.
 

JoeGibbs

Newbie
1 0
LOL - This is hilarious!

I have been following T2W for a while, and there's a lot of useful information. However, THIS "review" of Rockwell Trading seems to be a joke.

Guys, do you think you are the THREE AMIGOS saving the villagers from the evil bandits?



You say that their trading room is "not even on the playstation simulator", yet you stayed for twelve months???

You paid $300 for a few DVDs and expected to become a trading millionaire?

And you tried to get rich shadow-trading somebody?

I really hate to be the one that's breaking the news to you, but learning how to trade takes more than just a DVD or an eBook. Ask any professional trader, and they will tell you that it takes years until you start making money with trading.

If you think you wasted your money on the DVDs you bought, why don't you simply ask for your money back?

Just my 2 cents,

Joe
 

Stirf

Active member
109 7
Re: Beginners and seminars/coaches

Nice post Stirf.(y)

It seems there are more scammers than genuine trainers. The industry is not properly regulated and it's easy to start training traders. The best way for proper trainers would be if they can provide a record of at least 3 years consistently profitable trading.

PS I can't see banks employing a trader without checking their trading record. Why should the training be any different? - IMO it would be beneficial to successful traders who like to get some income from training as well. Also it would help the trainees to choose the right trainer.
Thanks Bedsit, appreciate your compliment!

I was very green about 2 years ago in day trading futures. I made a mistake, but I can't turn back time. Only thing I can do now is to keep others far away from scams like the Rockwell Trading one. In doing so I can use all the help I can get. So feel free to forward the URL of the vdo and the online article to your trading buddies.

I know better now and asking yourself one simple question should do the trick:"why would anyone sell his profitable strategy"? That's like encouraging your competition on your entry and exit levels!

I fully agree on your point about the trading record!

Shaka,

Stirf
 

pboyles

Legendary member
8,072 1,301
LOL - This is hilarious!

I have been following T2W for a while, and there's a lot of useful information. However, THIS "review" of Rockwell Trading seems to be a joke.

Guys, do you think you are the THREE AMIGOS saving the villagers from the evil bandits?



You say that their trading room is "not even on the playstation simulator", yet you stayed for twelve months???

You paid $300 for a few DVDs and expected to become a trading millionaire?

And you tried to get rich shadow-trading somebody?

I really hate to be the one that's breaking the news to you, but learning how to trade takes more than just a DVD or an eBook. Ask any professional trader, and they will tell you that it takes years until you start making money with trading.

If you think you wasted your money on the DVDs you bought, why don't you simply ask for your money back?

Just my 2 cents,

Joe
So you'd prefer we just keep quiet about it and allow other people to fall for the same thing?

Great first post by the way, I'm sure your mocking will endear you to all here.
 
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Stirf

Active member
109 7
OK I understand, I was watching it on my iPhone so I couldn't really see what was on the screen. I did notice how it went quiet and then they booted you out.

I seem to recall the SEC prosecuted a company for faking trading room results, must have a look for you. I will post if I find the case.
Hi pboyles,

Thanks for your reply. Anything that helps to prevent scams like these from happening is very welcome! Don't hesitate to forward the vdo and the link to the online article!

Shaka,

Stirf
 

Stirf

Active member
109 7
LOL - This is hilarious!

I have been following T2W for a while, and there's a lot of useful information. However, THIS "review" of Rockwell Trading seems to be a joke.

Guys, do you think you are the THREE AMIGOS saving the villagers from the evil bandits?



You say that their trading room is "not even on the playstation simulator", yet you stayed for twelve months???

You paid $300 for a few DVDs and expected to become a trading millionaire?

And you tried to get rich shadow-trading somebody?

I really hate to be the one that's breaking the news to you, but learning how to trade takes more than just a DVD or an eBook. Ask any professional trader, and they will tell you that it takes years until you start making money with trading.

If you think you wasted your money on the DVDs you bought, why don't you simply ask for your money back?

Just my 2 cents,

Joe
Hi Joe,

Lucky there are people like you whom with their great intelligence are able to save the world:clap:! The way you got in that pic of the three amigos is already amazing! Unfortunately, with my peanut size brain I can only dream about your great deeds!

Keep up the good work Joe, you are my super hero:rambo:!

Shaka,

Stirf
 

Dave489

Newbie
4 0
- ES trades:
1st -7 ticks -87.5
2nd +7 ticks +87.5
3rd -8 ticks -100

- G6E (€/$) trades
1st trade -12 ticks -150

- YM (dow jones) trades
1st trade -14 ticks -70
2nd trade -16 ticks -80
3rd trade +4 ticks +20

Total loss of 380 with 7 trades. Including brokerage that means about -$415 per contract.
Interesting. Are these the results of only one day or multiple days/weeks?

And do you have updated daily results? If so, can you post the daily results here in the forum? Would be interesting to see.
 

Stirf

Active member
109 7
Interesting. Are these the results of only one day or multiple days/weeks?

And do you have updated daily results? If so, can you post the daily results here in the forum? Would be interesting to see.
Hi Dave,

This was only from one day, but have a look at this article, there you can see the results of 10 weeks:
The article also includes a link to a youtube vdo. It's the live recording of the 1st of november, when I confronted them with their losses while the only thing they do is communicate profits.

My email is also in the article. Feel free to email me if you have any further questions. Looking forward to your reaction.

Shaka,

Stirf
 

Dave489

Newbie
4 0
Stirf,

Yes, I read your article, but I am looking for daily trades.

Can you post the results of the last 3 days? Or maybe the last 3 weeks?

Dave

PS: I checked out their website (www.rockwelltrading.com) and there's a video on their homepage showing some live trades. From what I can tell it seems that they are trading a real account and made some money.
 

Stirf

Active member
109 7
Hi Dave,

Over the past 10 weeks I've recorded about 150 to 200 trades in four markets. Before I got banned I recorded them myself. After November 1st the day I got banned I got the daily results via email from people who were still in the support room, and had the same experience like I had. You do understand that posting those 200 trades or just a part of them is quite a job. So before I'm gonna start doing that, I'd like to know what your interest is in looking at the daily results. Maybe I can answer your question without me having to post all those trades here.

The video you saw on their website was not from their "live" trading support room. What you saw was a recording of a webinar they hold once in a while. During those webinars they trade live to haul in a new flock of sheep for their slaughterhouse. An e.g. $100 loss during those webinars is just a small investment for selling two or more $500,- courses on DVD. Let alone a FOUR THOUSAND DOLLAR personal coaching program.

I trust this answer is of help to you.

Shaka,

Stirf
 

Mark1979

Junior member
48 0
Hi,

I started this thread however many weeks ago as a complete newbie and I am so pleased that I didn't part with my cash, despite being very very close.

There are a few reasons for this as follows:

1) I was very sceptical about a very mechanical system that advised you to stop once the daily target was hit (or stop when you have made x amount of losses). Strange when at the same time promoting range bars where time is not relevant. To me, a set up is a set up is a set up. You may see 3 legitimate set ups one day and none for next two weeks. As was said in the review, I suspected it was done to 'keep you in the game' and keep you buying their products.

2) One of their main strategies (if I remember) is a scalping stragegy with a Risk/Reward ratio of 4-1 - thats Risk 4 for a reward of 1!! This is clearly ludicrous. I have read that the overwhelming opinion is that scalping is best left to the professionals and EVEN then they would be working towards a Risk/Reward ratio of AT THE VERY LEAST 1-1. Such a strategy is again designed to 'keep you in the game' - based on this R/R you would expect to have a lot of winners which will give you a false impression of your own abilities when in fact your 'expectation' in the long term is close to zero i.e. no profit or loss.

3) They use indicators, which I have learnt are not required. One of their main indicators is Bollinger band - which I learnt that John Bollinger himself doesn't even use!

4) I came across so much free good stuff that to date I have spent less than a hundred quid and I feel like I am in a position to start making a crack at trading on a more professional basis.

I think I have mentioned these names above and I unashamededly 'plug' the same people:

Nial Fuller (who teaches the same stuff as James16), and Phil Newton - down right honest Price Action teachers.

Well done for blowing the whistle. I sincerely hope that no one else get burnt.

Cheers,

Mark
 
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