Trader333
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Sorry to hear of your situation. You would do well to do a search of the forums where there has been much written about VS. Here is one link:
http://www.trade2win.com/boards/showthread.php?t=18408
Paul
http://www.trade2win.com/boards/showthread.php?t=18408
Paul
Lightning McQueen
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HI siomic
I see you have a join date of August 2004, did it never occur to you to at least do some basic homework on vince before subscribing by searching this site as t333 suggests, or failing that, paper trading the service for a period to check it out.
Even a quick post on the lines of "what do you reckon of vince then" would have done the trick, would have been a better first post than the one you have now.
Im sorry if im coming across as unsympathetic to your plight as I realise its not nice to lose a bucket of cash, but you were a few clicks from salvation and you couldn't be bothered to use a resource that you were a member of.
be careful out there next time
I see you have a join date of August 2004, did it never occur to you to at least do some basic homework on vince before subscribing by searching this site as t333 suggests, or failing that, paper trading the service for a period to check it out.
Even a quick post on the lines of "what do you reckon of vince then" would have done the trick, would have been a better first post than the one you have now.
Im sorry if im coming across as unsympathetic to your plight as I realise its not nice to lose a bucket of cash, but you were a few clicks from salvation and you couldn't be bothered to use a resource that you were a member of.
be careful out there next time
Lightning McQueen said:HI siomic
I see you have a join date of August 2004, did it never occur to you to at least do some basic homework on vince before subscribing by searching this site as t333 suggests, or failing that, paper trading the service for a period to check it out.
Even a quick post on the lines of "what do you reckon of vince then" would have done the trick, would have been a better first post than the one you have now.
Im sorry if im coming across as unsympathetic to your plight as I realise its not nice to lose a bucket of cash, but you were a few clicks from salvation and you couldn't be bothered to use a resource that you were a member of.
be careful out there next time
Agreed - I just got drawn into the "I can make your over £100.000 before July, Guaranteed..."
It's a pitty there is no legislation to prevent pricks like this from drawing new investors into their scams. The guarantees tend to cover the cost of the subscription, not the money that has been lost.
I think I also have been a prick, by not testing the mega prick guru's tips...
Nevermind
Siomic
siomic said:Did anyone else besides me, subscribe to Vince Stanzione's recent Traders Alert service?
Only two weeks into the service. My £10,000 investment bank lost £6,000 and nearly all the trades have stopped out !!! The remaining trades are also near their stops.
I am relatively new to spread trading and unfortunately put a lot of faith into this so called guru of spread trading. He even claimed to be in contact with the big institutions and new upto 48 hours before what trades they were going to execute. What a load of ********...
I am thinking of forwarding all the spam ****e that this prick sent to me to a solicitor to see if there is a way of seeking legal compensation, and getting him to substantiate who these big investment types are, and to prove the hype outlined in his literature.
Anyone else sucked into this load of ******** please let me know...
What are you going to do with the other 4,000? It is, still, possible to recoup if you do some studying of what other strategies are followed by other posters. If you stay with trading, this is the beginning of a learning process that will never be complete.
However, be patient, taking smaller trades. Be warned, I know, from experience, that it is a quicker process losing capital, than getting it back again. Basically, what does Vince tell you to do? Tell us, please.
In any case, don't worry any more about the lost 6,000. It's gone. Take a deep breath and
think about the next step.
Oh, yes! Thanks for having the guts to tell us about your losses. Many don't, unfortunately, and it is a point in your favour.
Good luck
Split
The other £4,000
Split
I basically told Vince Stanzione to shove his trading system up his a**e, and his tips were f**king useless, and not to take anymore payments for his s**t Traders Alert service from my credit card.
I have approximately £4,000 of the £10,000 left. It will take a long time to recoup the losses...
I learnt and burnt the hard way. Use me as an example of how not to start trading by following some scam mailshot that lands on your door.
Thanks for the support split...
Siomic
Splitlink said:
Split
I basically told Vince Stanzione to shove his trading system up his a**e, and his tips were f**king useless, and not to take anymore payments for his s**t Traders Alert service from my credit card.
I have approximately £4,000 of the £10,000 left. It will take a long time to recoup the losses...
I learnt and burnt the hard way. Use me as an example of how not to start trading by following some scam mailshot that lands on your door.
Thanks for the support split...
Siomic
rav700
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siomic said:
I hope you do make all your money back mate....I mean it is not your fault...all traders in a an constant search of the holy grail.....and it is only human for yourself to sign up to someone like vince as you are the ideal candidate to him making his millions...
I think now you should clear your head this weekend and develop your stratergy to make you £6000 back...
The Best way is too find your market ......
Have your own stratergy and then cross confirm with other traders and signals...
And set your risk limit per trade.....
Logically....If you made £100 a day ie £10 a point x 10 points you should be done in 3 months.
I am very shocked that you lost more than 50% of your capital in a couple of trades but we have all been there done it ...now it is time for you to move on....
Best of luck.....
Make sure you post your breakeven in 3 months....
Happy Trading
Rav
Well intentioned advice,
but if your trading system was to follow what somebody else said then for goodness sake don't look to cover your lost 6000 in 3 months, because you need to acknowledge (as ytou doubltess already have) that you know jack **** about how to make money from the markets. You aren't, barring stupendous luck (and if you had that Vince would have had an unusual run of fortune, wouldn't he?) going to learn on T2W how to do it either - simply because the real gold on here is buried under a morass of well intentioned mud.
Either sign up to a course on Fundamental Analysis, and learn to pick shares based on EPS etc (which will turn 4000 into, err, about 4010 by next March, but with the effects of compounding will make you a millionaire by the time you are 478 or so) or pay someone like Alan Rich 500 to teach you to pick a few good signals, and use the other 3500 to fund an SB account which you then trade the way you've been taught, without deviation, until you're doing quite well (if you don't then stop when you have 2000 left and ask yourself if you are doing as taught, or trying to be clever). Then you keep doing it, because once you have a 'fiver photocopier' you don't really need the tenner version.
I have no link to Alan, although I did see him do a 20 minute chat once a long time back. There are doubtless other trainers around, I would use T2W to obtain references about them - ignore the 'having been on this course I am confident I will make money' gushing rubbish, pay heed only to those that say 'having been on this course I've made a packet despite being really thick'. One shows intent, the other actual results.
All the very best, it's easy to sit here telling you what you did wrong, but the mere fact that so many scams persist is proof that they are very effective on the average Joe - no shame in being caught and it took guts to admit it.
but if your trading system was to follow what somebody else said then for goodness sake don't look to cover your lost 6000 in 3 months, because you need to acknowledge (as ytou doubltess already have) that you know jack **** about how to make money from the markets. You aren't, barring stupendous luck (and if you had that Vince would have had an unusual run of fortune, wouldn't he?) going to learn on T2W how to do it either - simply because the real gold on here is buried under a morass of well intentioned mud.
Either sign up to a course on Fundamental Analysis, and learn to pick shares based on EPS etc (which will turn 4000 into, err, about 4010 by next March, but with the effects of compounding will make you a millionaire by the time you are 478 or so) or pay someone like Alan Rich 500 to teach you to pick a few good signals, and use the other 3500 to fund an SB account which you then trade the way you've been taught, without deviation, until you're doing quite well (if you don't then stop when you have 2000 left and ask yourself if you are doing as taught, or trying to be clever). Then you keep doing it, because once you have a 'fiver photocopier' you don't really need the tenner version.
I have no link to Alan, although I did see him do a 20 minute chat once a long time back. There are doubtless other trainers around, I would use T2W to obtain references about them - ignore the 'having been on this course I am confident I will make money' gushing rubbish, pay heed only to those that say 'having been on this course I've made a packet despite being really thick'. One shows intent, the other actual results.
All the very best, it's easy to sit here telling you what you did wrong, but the mere fact that so many scams persist is proof that they are very effective on the average Joe - no shame in being caught and it took guts to admit it.
Stopping others from my mistakes...
Dave
I think I understood about 80% of your last post, but thanks for the advice.
If I can prevent any new spread better, from starting off on a bad foot, then I am glad I have posted the losses attributable to the prick named Stanzione.
Rav
Thanks for the encouragement
If I could make £100 per day to cover my losses in three months, I would be happy...
Siomic
DaveJB said:
Dave
I think I understood about 80% of your last post, but thanks for the advice.
If I can prevent any new spread better, from starting off on a bad foot, then I am glad I have posted the losses attributable to the prick named Stanzione.
Rav
Thanks for the encouragement
If I could make £100 per day to cover my losses in three months, I would be happy...
Siomic
siomic said:
Hi Siomic
Thanks for posting your story on VS. What service did you subscribe to? Was it the one that said he was going to make you £27,000 by July on the flyer?
Curious to know what signals he gave you and any comments/narration he may have sent. Did he talk about risk management ? What did he say when you advised him that you were cancelling the service?
Appreciate that you may not want to post a reply but the more information there is about this guy then the easier it will be for people to look through his marketing hype.
Good Luck
T
siomic said:
Don't worry about that, it's gone. Otherwise, you'll start looking at all kinds of possibilities where they don't exist. Start making points, not pounds, just enough to be in profit.
And be selective. You'll get there, don't worry.
Good trading
Split
Trader333
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This is a high figure to be achieving based on the lack of experience that you appear to have. Also if you can make that then you can also lose that amount as well. It would be much better to limit your downsize risk to a level that if it continues to go against you doesn't become even more painful for you.
In my view one of the fundamental keys to success in trading is understanding the volatility of the instrument being traded in the time frame (or time frames if you use multiple times), that you decide to trade it and then positioning your market exposure relative to that volatility.
This is so important because you then remove the need to predict market direction and just respond to what happens whether it is a loss or profit. It continues to amaze me just how many people don't do this or ignore it and then wonder why they are unable to make consistent profits from trading.
Paul
Alan Rich
I recently had a one 2 one with Alan Rich
Great day
He made stacks money at 2.30pm on US Stocks, 1500$, ryt infront of me took him 3 minutes
I learn this frm him
Manage your position
get yr STOP to OPEN
(free trade)
Favourite Play he calls his starbuck, he goes 4 coffe & w8 see how his free play pans out, great its free from the moment he moved stop to Entry
JOHNCARE
I recently had a one 2 one with Alan Rich
Great day
He made stacks money at 2.30pm on US Stocks, 1500$, ryt infront of me took him 3 minutes
I learn this frm him
Manage your position
get yr STOP to OPEN
(free trade)
Favourite Play he calls his starbuck, he goes 4 coffe & w8 see how his free play pans out, great its free from the moment he moved stop to Entry
JOHNCARE
DaveJB said:
Buy the book "Small Claims Procedure: A Practical Guide"
http://www.amazon.co.uk/Small-Claims-Procedure-Practical-Guide/dp/185811277X
And then sue him in the small claims court for something like false representation. Believe me he does not know what the institutions are going to do 48 hours before they do it. In fact they themselves don’t even know what they’re going to do in 2 days time.
If you sue him for your losses then he would likely come back and say 'aha, he's still got £6k so is still very much in the game and if he continued then the account would now be worth £20,000'.
Read the book, formulate your plan and it will only cost you about £100. Stanzione himself would have to employ a solicitor which would be a minimum of £1,000 maybe even more. Possibly a case for an out of court settlement of a few grand.
Good luck, do your homework and you've got a good chance of getting some sort of result.
http://www.amazon.co.uk/Small-Claims-Procedure-Practical-Guide/dp/185811277X
And then sue him in the small claims court for something like false representation. Believe me he does not know what the institutions are going to do 48 hours before they do it. In fact they themselves don’t even know what they’re going to do in 2 days time.
If you sue him for your losses then he would likely come back and say 'aha, he's still got £6k so is still very much in the game and if he continued then the account would now be worth £20,000'.
Read the book, formulate your plan and it will only cost you about £100. Stanzione himself would have to employ a solicitor which would be a minimum of £1,000 maybe even more. Possibly a case for an out of court settlement of a few grand.
Good luck, do your homework and you've got a good chance of getting some sort of result.
small claims
There is a limit on the amount you can claim via the Small Claims procedure, in England and Wales, I think it's £1500 and Scotland £750.
Your local CAB can give advice on the procedure and you can also get a lot of info off the net at sites like adviceguide.org or possibly consumer direct, which is a Govt site.
There is a limit on the amount you can claim via the Small Claims procedure, in England and Wales, I think it's £1500 and Scotland £750.
Your local CAB can give advice on the procedure and you can also get a lot of info off the net at sites like adviceguide.org or possibly consumer direct, which is a Govt site.
Priceman
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Don't worry about getting your 6k back in a certain amount of time and adding pressure on yourself. Don't use your 4k remaining until you know what you're doing. You need to know why you get into a trade, when you need to get out, where support/ resistance levels are etc. Know the chosen market before you even think about getting started. There's plenty of reading to be done on this site and others. You could find that if you get in now that 4k will become zero very quickly. If you take your time now you could save yourself a lot of heartache.
Take care it's a jungle out there Keep posting your progress and good luck.
Take care it's a jungle out there
Keep posting your progress and good luck.beebop said:
BB
I think you're right about the level in scotland but in England it's far more than £1,500. I think the amount might be as high as £10,000.
Whatever the case my friend successfully sued Abbey for £3,500 in bank fees. She said they took it right down the line but caved in 2 days before the hearing and settled.
Suing Stanzione may or may not work but it will certainly mess him around in time and money.
Also check with the Advertising Standards to see if he's misled people because of the 'I know what the big boys are going to do and I'll tell you all' quote.
anley said:
You're right that I'm wrong for E & W but it seems to depend.....
http://www.adviceguide.org.uk/index....htm#Types_of_case_dealt_with_in_the_small_cl
Thanks for making me check properly! :cheesy:
The Bull S**t Flyer
Dear All
Thanks for the advice. The small claims courts seem to be the least costly of all the options and is definately worth considering...
If anyone else signed up for Vince Stanzione's Traders Alert service, please let me know.
His spam literature says he is in Switzerland to be nearer the big investors and get in on the action early and the investment tips are a retirement gift to us...
What a load of Boll**ks...
Siomic
beebop said:
Dear All
Thanks for the advice. The small claims courts seem to be the least costly of all the options and is definately worth considering...
If anyone else signed up for Vince Stanzione's Traders Alert service, please let me know.
His spam literature says he is in Switzerland to be nearer the big investors and get in on the action early and the investment tips are a retirement gift to us...
What a load of Boll**ks...
Siomic
