schooloftrade & James Wave

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Ninja is so rubbish, I think Ninja new ver should change the title of ALL windows saying there in SIM, if there on SIM, really easy programming down there end. This will stop all the scammers out there!
 
newt24 said:
Ninja is so rubbish, I think Ninja new ver should change the title of ALL windows saying there in SIM, if there on SIM, really easy programming down there end. This will stop all the scammers out there!
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This won't happen because many of these scammers are Ninjatrader partners. :)
 
yes very good point to bring to everyones attention, I also suspect it has not happened because all those scammers generate plenty of new business for Ninja Trader so perhaps it's not in thier interest to do it!
newt24 said:
Ninja is so rubbish, I think Ninja new ver should change the title of ALL windows saying there in SIM, if there on SIM, really easy programming down there end. This will stop all the scammers out there!
Click to expand...
 
newt24, right now I continue to compile the evidence from all members who contact me with their stories. This case needs a good US lawyer to follow it through to conclusion as I am UK based. If there are any readers out there who can pledge assistance in any way to help bring SOT & JJ to justice please do so. (I am not talking money; this case probably needs a lawyer who will take their fee from the settlement.)

I estimate this fraud runs into many hundreds of thousands of dollars, who knows maybe JJ has managed to defraud 350+ individuals over the years, in which case we are talking millions of $ in membership fees alone. Not to mention lost trading funds, investment in software & PC equipment and countless days and months of peoples lost time and effort.

I have said this earlier in the thread I believe but I repeat it once more, JJ & SOT are harming people every day and not just financially, they should be stopped.
newt24 said:
hows your legal action going with SOT LloydH?
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LloydH said:
assistance in any way to help bring SOT & JJ to justice please do so. (I am not talking money; this case probably needs a lawyer who will take their fee from the settlement.)
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In my experience most lawyers want money up front to even take the case. and then they'll continue asking for more. I wish you luck but this will not be easy. It will also be very hard to prove which means higher risk for the lawyer which means more money upfront.
 
cunparis, Actually I think this case is very easy to prove! If SOT & JJ were asked by a judge to provide trading statements from their broker as evidence I expect it would show beyond doubt they have defrauded many individuals over the years.

cunparis said:
In my experience most lawyers want money up front to even take the case. and then they'll continue asking for more. I wish you luck but this will not be easy. It will also be very hard to prove which means higher risk for the lawyer which means more money upfront.
Click to expand...
 
LloydH said:
cunparis, Actually I think this case is very easy to prove! If SOT & JJ were asked by a judge to provide trading statements from their broker as evidence I expect it would show beyond doubt they have defrauded many individuals over the years.
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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.
 
cunparis, thank you for the advice, which I accept is probably the way a lot of people do think. This is after all the type of logic these fraudsters want you to use, they think that it will always keep them safe. It's just not worth the time and effort to go after them so better just let it go.

Frankly nothing is preventing me from moving on. Nobody likes to lose money but that was not a big problem for me. However, I know some people have really suffered at the hands of SOT and could not afford to lose the money JJ took from them. I will make sure SOT is brought to justice, that is important.

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.
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I see recent updates to the SOT terms and conditions. Well, all these disclaimers have been added by SOT since I started campaigning against their fraudulent practices over a year ago and no doubt as a result of some unwanted attention from the CFTC. I now see SOT is making statements like..

"The chat room is for online educational purposes only. It is not to be misunderstood as a trading room. Such as a room giving signals for trading real money. We request that our students follow our trades using a simulator as we do"

"Do not make actual trades based on information or alerts based on any information from SchoolOfTrade.com nor our live Signal services. The signal service, for which you are enrolling sole purpose, is training."

"By reading this, you hereby agree that you will not make actual trades based on any information, educational alerts or triggers that are posted in any education, via email or discussed via audio/video/text in the chat room"

When I joined SOT most of these disclaimers DID NOT exist and JJ actively represented his Live Trade room as exactly that, a trading room where he personally traded a live account and gave out live trading signals to the members.

JJ promoted this service with publicised profit results that he maintained were real. He always maintained he traded a live account when asked. This is what I paid to join.

When I was a member in the Live Trade room, JJ would always say stuff like,

"if you take 2 losses in a row switch back to SIM trading, this is money management we need to preserve our capital at all times"

"once you have made your daily profit goal switch back to SIM trading, no point giving back all that hard earned cash to the markets"

Is it legal to open a live trade room and make all kinds of promises and misleading statements and then have some small print as terms and conditions hidden at the bottom of your site that completely contradicts what you are doing and saying in that room?

Can you con people for a decade and then just suddenly change your story from being a "Live Trade Room with Live Signals" to "the sole purpose is training" ?

Are SOT not now openly admitting in their T&C exactly what I have been saying since the start of this thread?

What about all the people that already handed over money their money to this scam artist prior to these new disclaimers being issued, surely my case is now proven beyond doubt?
 
thats a total shock, I cant beleive he JUST now updated the terms! stupid idiot he is, really makes me mad he does.
 
Thank you, Loyd!

I now know that since JJ has added these new liability statements onto his site, he is a real fraud. It was two years ago when I almost made the decision to buy into it. You've now confirmed what I thought was bogus - I wondered why he never displayed his trade results after every trade on his Ninja "performance" spead sheet that comes with NinjaTrader. I admire your quest to help others in your situation.

Regards

Thanks!
 
Hey sparctacus_canis,

You are welcome and Thank You for your post.
regards
Lloyd


spartacus_canis said:
Thank you, Loyd!

I now know that since JJ has added these new liability statements onto his site, he is a real fraud. It was two years ago when I almost made the decision to buy into it. You've now confirmed what I thought was bogus - I wondered why he never displayed his trade results after every trade on his Ninja "performance" spead sheet that comes with NinjaTrader. I admire your quest to help others in your situation.

Regards

Thanks!
Click to expand...
 
newt24, sorry for the long delay in my reply to your post, I have added some tags to my video on www.viddler.com now for schooloftrade. I hope it comes out in a search now, it will most likely appear under the global tags section until it gets more hits. best regards
Lloyd
newt24 said:
LloydH, I tried "searching" for the video you uploaded in viddler.com (I typed schooloftrade), all I got was JJ videos, not your video?
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