Mike Douglas and MTA Online SCAM

[LaserTrader]

As Mike Douglas and the guys at Mastery Trading Academy are now trading as MTA Online (http://www.mtalive.com) I thought it prudent to create a new thread to highlight their Scam.

Despite the new name it is the same Scam they did as Mastery Trading Academy (see the thread Mastery trading Academy Swindle for details).

They are very good at talking and making believable claims, but don't be fooled. They don't even have faith in what they teach as they use demo accounts.


It appears they use the old plan 5 breakout trades then focus on only the winner and ignore the losses to look good (find the lady, 3 card trick).

Also, they persuade people who take the course to sign up with a broker (ETX) who they get a cut of the brokers fees from (every trade you make they get a cut). But they don't tell you that.

Mastery Trading Academy was actually registered as a company in the UK, but the directors have all resigned and now they trade as MTA Online (possible other names) which are not registered companies.

See Mastery Trading Academy .. Swindle thread for a lot more information and proof on their lies, fakes and tricks.

 

[GubyIQ]

'you will learn how to make 3-5% every single day from the markets'
c'mon who falls for this kind of **** ? no disclaimers on the website, it's unbelievable

 

[Forexmospherian]

'you will learn how to make 3-5% every single day from the markets'
c'mon who falls for this kind of **** ? no disclaimers on the website, it's unbelievable

You can learn to make 3-5% increase on your account - but it will not be via a single course - book or any 1 - 3 month mentoring.

First of all you will need anything from 3-5 yrs of trading experience behind you - and during part of that time you will be probably lose 3-5 % per week or month.

Then one day - or over a few days - you will start to see clarity and understand all the junk that is spoken about retail trading is far from the truth and is actually misleading you

Yes - somewhere between 75% and 95% retail FX traders - fail - ie they give up - lose all the money and think it cannot be done.

Maybe less than 5% end up as a full time retail trader - and then they think - all what I have been through why should I bother to explain to all new traders the actual truth and the real reality of day trading.

First of all commercial / institutional trading is completely different to retail day trading

The monies involved - the risk - the restrictions - the methods are all different and so it like comparing chalk with cheese

For example a good professional commercial trader making 5% per month on a multi million dollar account and over say 50% per annum is looked upon as being good.

For me a good experienced retail trader needs to make over 200% per annum - ie over 20% per month to be even counted as good.

Its simply down to the facts that making a trade on $5 per pip or on 4 lots - is nothing like making a trade on 400 lots or 1000 lots .

The 400 lot trade - still might be just on 0 2% risk - whereas the 4 lots might be on 2 to 3% of capital

Immediately - that means ever gain by a retailer is in % terms 10 or 15 times larger than the pro institutional guys.

So bearing that in mind - if the Top commercial traders make say consistently 4 - 7% per month - the top retail experienced traders should be making 40 - 100% per month - certainly on accounts under $50k - and what 90+% of all retail accounts are smaller than that amount.

I have not mentioning compounding - because that is another big myth - its virtually impossible for any retail trader to keep compounding any account from $1k to $10 million - using their money - simply because they will hit their psychological financial wall at some level - normally between about 10 lots and 50 lots - but can even be as low as just 5 lots - before they crack

OK - so explained the maths % anomaly - now how do you become profitable every day or at least every week

Years and years of study, devotion, luck, knowledge, persistence, hard work, determination etc etc.

Result - that's why so many fail and that's why only a few dedicated top retail trader will end up consistently making returns of 3-5% per day - with no compounding going on as I have already explained that part.

Conclusion - as far as I am concerned all courses might help you achieve between 2 and 20% of what you really need to know.

But if anyone knows of a mentoring course over say 2 or 3 years from a top professional retail trader - that will not cost them over say $50 k - then that might be worth taking.

$50k is nothing - if it then makes you over half a million or more over the next 5+ years surely - my daughters just spending nearly $40k just to get a business degree in 3 years and then she hopes to earn over $40k per annum ongoing to pay it all back

Just my own view

Regards


F

 

[mike.]

Also, they persuade people who take the course to sign up with a broker (ETX) who they get a cut of the brokers fees from (every trade you make they get a cut). But they don't tell you that.
.

I cant imagine them getting a cut of the broker fees from ETX, MTA Online are small fish splashing around in a small pond. What they most likely get is a £100 refer a friend fee.

 

[LaserTrader]

I cant imagine them getting a cut of the broker fees from ETX, MTA Online are small fish splashing around in a small pond. What they most likely get is a £100 refer a friend fee.

Mike, I have to ask, are you Mike Douglas ?

If MTA are signing up 30 clients a month (30 clients per course) then I am sure ETX will allow MTA to be an Introductory Broker (IB) and give them commission. Even if they do only get a £100 introduction fee that should be disclosed instead of deceiving their clients.

As Forexmospherian mentioned around 75% of new traders fail. These scam artists don't care, they still get paid for the course and still get money from the broker (even if you wipe out your account). If anyone gets a refund if they don't make the promised 3-5% per day, please let us know

 

[Pat Riley]

A sense check may be required LaserTrader. While 3-5% per day isn't impossible, anyone believing someone is going to give them the wherewithal to make those sorts of returns for a few grand up front probably is exactly the sort of people that people who can't make anything like that sort of return trading will want to entice those that think it can into parting with their cash so that they can.

It's a harsh reality that those least able will become increasingly less so. Check the parable of the talents. I'm no bible nut, but it's one of the few lessons from the bible that has any specific bearing on trading.

 

[LaserTrader]

Update:

Mike Douglas and Matt Travis (MTALive) are showing off a new office and business address:

http://www.mtalive.com/contact/

The address is actually the address of a company called Regus who provide a 'Virtual Office' service.

 

[mike.]

Mike, I have to ask, are you Mike Douglas ?

Nahh, Im a much better trader than he will ever be.

Even if they do only get a £100 introduction fee that should be disclosed instead of deceiving their clients.

is it deceiving their clients ? would you disclose it ?

As Forexmospherian mentioned around 75% of new traders fail. These scam artists don't care, they still get paid for the course and still get money from the broker (even if you wipe out your account). If anyone gets a refund if they don't make the promised 3-5% per day, please let us know

On the other hand, If numpties don't do their due diligence before parting with their hard earned then who's fault is it when they loose it all ? you can stand outside the course doors handing out leaflets about them scamming people, 90% wouldn't believe a word you said.

When they do loose all their money, Call it " lesson number one " dont pay for useless courses.

 

[kingtrader7]

www.mtalive.com/contact

Ring the number, it is not a virtual office, they do pick up, its their trading floor, their traders are posting profitable trades every day, i think you guys really need to do something with your life rather then keep posting every 2 minutes.

Yes you have dropped your kids to school, yes you have picked up your benefits, watched your episode of Jeremy Kyle, can't you go and do some constructive, jealousy is a horrible trait

Keep on smiling Madonna's

 

[LaserTrader]

www.mtalive.com/contact

Ring the number, it is not a virtual office, they do pick up, its their trading floor, their traders are posting profitable trades every day, i think you guys really need to do something with your life rather then keep posting every 2 minutes.

Yes you have dropped your kids to school, yes you have picked up your benefits, watched your episode of Jeremy Kyle, can't you go and do some constructive, jealousy is a horrible trait

Keep on smiling Madonna's

Oh this is too easy, I thought you would have learnt from the other thread Kingtrader, endless bull (and I mean waste of the animal not the market trend) does you no good.

Regus provide a Virtual office with a phone answering and forwarding service oh and a mail receiving service. So I would expect the phone to be answered.



Strange there are no photo's on the website of the inside of the office or their trading floor, could it be you are making it up? And why is the company not registered at that address .... actually is the company registered at all?

Strange you try to make out I am jealous when I am simply standing up for those easily fooled. I am disgusted not jealous of people making money by preying on vulnerable people with fake claims. I would actually respect them if they made their money by trading instead, shame they don't seem to do that and they have to scam people instead.

I see Mike Douglas and MTA are still using fake photo's (photos from another training company they copied and made out they are their events) Lies.

I see Matt Travis is still claiming loads of winning trades on demo accounts, not the same demo account, he keeps wiping the demo accounts out on average losing £1000 per day.

 

[kingtrader7]

i tell you what, how about you visit the office posted and see for yourself i have and indeed they are in there trading live,,,,,, I'm sure they would not mind you visiting.......

And demo accounts? Really? Where do you get this information lol?

middle aged men in broken marriages, I feel for you, go back to your pot noodles and german porn

 

[MajorMagnuM]

Sometimes when I'm feeling positive about life & mankind in general, I like to come here for a reality check. Fortunately kingtrader (he of 3 posts) & his pathetic MTA site have not let me down

Right, off to cash in my $1.5k benefit cheque for today (screenshot attached).

Short humanity.

kin epic

 

[LaserTrader]

i tell you what, how about you visit the office posted and see for yourself i have and indeed they are in there trading live,,,,,, I'm sure they would not mind you visiting.......

And demo accounts? Really? Where do you get this information lol?

middle aged men in broken marriages, I feel for you, go back to your pot noodles and german porn

You have a short memory Kingtrader, you asked this on the Master Trading Academy swindle thread:

http://www.trade2win.com/boards/edu...ry-trading-academy-swindle-2.html#post2357476

All the proof you will ever need :smart:
You asked where I get it, well from Matt Travis the CEO of MTA Live in his tweets.

Oh yeah, look for the posts by the disgruntled customer who pointed out Mike Douglas lost money during a course in South Africa course and lied about the markets being closed in UK and US.

 

[kingtrader7]

Hi Laser Trader,

Seems your lies are being found out and you are running out of ammunition, maybe also running out of pot noodles.

The live trading room you post was the one run by Janet correct? Not Mike not Matt but Janet who works with you? I am pretty sure it is, she doesn't use that platform right? Didn't she use the same platform so that she had the same prices and platform as the customer?

Anyone that has done the course would also know that MTA trade live and make money!

Jeez man your boring me now.... you are just talking to yourself, all these accounts are made by you...

Everyone knows you are a disgruntled old man who got left behind due to your sneaky behaviour and dodgy ideas....

Sure Mike & Matt are enjoying life with out you Les Johnston (LaserTrader)

 

[kingtrader7]

Forum 3
Office 127
Fareham Business Park
01489 611 680

Take a drive down, they have plenty of pot noodles and even better plenty of winning trades.

 

[LaserTrader]

Hi Laser Trader,

Seems your lies are being found out and you are running out of ammunition, maybe also running out of pot noodles.

The live trading room you post was the one run by Janet correct? Not Mike not Matt but Janet who works with you? I am pretty sure it is, she doesn't use that platform right? Didn't she use the same platform so that she had the same prices and platform as the customer?

Sure Mike & Matt are enjoying life with out you Les Johnston (LaserTrader)

That is a strong allegation Kingtrader7, if you bother to read the posts you will find I back everything I say with evidence and plenty of it. I have no reason or need to lie.
I ask you to with draw that allegation.

If you check other threads on here you will see that I am definately not Les Johnston.

I suggest you pay more attention to detail (especially if you want to be a successful trader) check the Demo account picture carefully. It is on Matt Travis's Twitter account and posted by Matt Travis (the same as the photo's that show an average £1000 per day loss).



From your reaction its clear that you are close to MTA ... :smart:

Oh and why would I want to drive over 100 miles to the address given by MTA. I suggest MTA put pictures of their office and trading floor on their website, instead of the stock photo's .

 

[GubyIQ]

Aren't these guys British nationals ? How come they're still at liberty, after so blatantly scamming people ? I would've thought it's hard to get away with this in the UK.

 

[LaserTrader]

Aren't these guys British nationals ? How come they're still at liberty, after so blatantly scamming people ? I would've thought it's hard to get away with this in the UK.

Unfortunately it is difficult to stop scammers like this under English Law.
These types of scammers are no fools, they know the law and what they can get way with.

MTA Live is not registered, they run a lot of their courses out of the country, where the laws are not so tight, so it makes them difficult to nail down to anything. They do actually provide a course which makes things more difficult even if they made false promises on what the course will help you do, they simply blame clients for failing.

I am sure the FSA are keen to hear from anyone who has been tricked by such people, especially if they have been fooled into signing up to a broker.

The best thing we can do is warn and educate people about outfits like MTA Live.

 

[Mattjs]

Hi Laser Trader,

I recently took the course that MTA offer. You declare that they are not registered, have you any evidence to support such allegation? As that would effectively constitute slander?

I have been trading for in excess of a month now, although i didn't make profitable trades from day 1, after a few weeks i began to find myself executing successful trades daily and consistently via Forex and binary options. I now trade full time and this is purely thanks to the standard of teaching and support they provide.

I cannot understand where all this negativity stems from? Must be something personal.

 

[LaserTrader]

Hi Laser Trader,

I recently took the course that MTA offer. You declare that they are not registered, have you any evidence to support such allegation? As that would effectively constitute slander?

I cannot understand where all this negativity stems from? Must be something personal.

I find it amusing that I blow kingtrader7 out of the water proving him wrong with evidence and ask for an allegations to be withdrawn as I proved beyond doubt that I have not lied, now a new person appears to accuse me of slander and a personal issue.

OK lets start with the accusation of slander. MTA Live is not registered in the UK, when they were trading as Mastery Trading Academy they were a UK registered company. Then Mike Douglas and Matt Travis split away to become MTA Live. If any of that is not true please let me know. Mattjs if MTA Live are registered in the UK or indeed as a company anywhere in the world please provide details or provide an apology to me.

Now to explain where the negativity comes from ... or should we just be clear and say facts.

A number of the people involved in setting up Mastery Trading Academy launched a vicious attack on her against another company they used to work for and they their company appeared.

A number of the publicity pictures used by Mastery Trading Academy, MTA Live and Mike Douglas on his Facebook page are from another company and nothing to do with MTA Live or Mastery Trading Academy.

See Proof here:http://www.trade2win.com/boards/edu...tery-trading-academy-swindle.html#post2350970

MTA are making out that if you take the course you will be making 3-5% every day and they are blasting social media with all sorts of questionable information to try and back it up. For example in Matt Travis's own twitter posts it can be seen he uses Demo accounts and loses an average of £1000 per day, but flags up winning trades and claims great success.

See proof:http://www.trade2win.com/boards/edu...ry-trading-academy-swindle-2.html#post2357476

If clients complain about not making 3-5% they are told its their own fault and that they should pay for more.

Proof:http://www.trade2win.com/boards/edu...ry-trading-academy-swindle-4.html#post2370584

I could go on, I haven't even mentioned forcing people towards a broker they get commission from, virtual offices, loosing money during a course and claiming markets were closed ... but I think I have made my point.

Mattjs, it is not something personal, not jealousy and certainly not just negativity. These guys are using lies, tricks and mis-direction to make money out of people and anyone thinking about giving them money should be aware.

If Mike Douglas or Matt Travis are great traders and making loads of money from trading, why do they need to tout a course with questionable claims, why do they need to use lies and tricks to promote it and why do they need to direct clients to brokers so they get commission.

I have challenged MikeDouglas previously to post a trade plan of 4 or 5 trades before any position in entered, then we will see if he is any good. Its easy during a course to focus on a winning trade and ignore the losers, as yet he has failed to meet the challenge, I wonder why