A list of all scam unregulated 3rd party educational vendors

Quote from lindq:

Beware of CoolTrade. (AKA RoboticTradingSystems.com)

They're passing out marketing materials in my area (and I assume other areas), reporting a six-month trading report with NO losing trades. Not a single one.

That tells you all you need to know about the company.
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I have seen that report and there were a few losers, but I agree there were only a few. However, I have run the strategy that they are trading and it is simply closing winners every day and adding to losers on 10% drops and then closing posiitons LIFO.

Once it sees profit in a position, the software rides the position higher until it starts to pull back and then it closes it. Essentially not allowing a winner to turn into a loser.

That strategy is not rocket science and works fine over a long period of time. It is not day trading though it does close positions on the same day they were opened if they are profitable.

If you don't like that strategy, there's no reason to call it a scan. You can chose a different strategy, or create your own. If you prefer to set a .05 trailing stop loss, you can do that too. I would not put you down for using a .05 stop loss, even though I don't agree with it in my strategies. However, such a thing may suit your strategy fine for daytrading.

It is just software that trades the stock market 100% unattended, from building the watch list, to opening positions, adding to positions, and closing positions, in accordance with the selected strategy, without any human emotion.
 
How does someone handing out a list of closed trades make that company a scam? I've seen the same list and I asked the same question about losing trades and the guys at Robotic Trading Systems (CoolTrade) explained to me that the list was only closed trades and that there was open positions that were in the negative and that this strategy trades LIFO. They also showed me the actual trader that produced this report and if they had closed out every single position the NET profit was still over 30% even with the losses . Please explain your great strategy that makes more than 30% in 6 months! They sell a great software that helps people trade and execute whatever strategy they input. Not sure how you can call that a scam. I would know the facts before you post something negative about a company!!!
 
Hmmmm.....so I am not clear about why Cooltrade would fit as a scam? I have used the software and I have my best friends using it and we are all having great trades execute. Each strategy executes trades to rules that I have put in. It buys and sells automatically.

Sure I saw the same report and I asked the guys at Robotic Trading Systems to explain it. I have even seen the machine that is still running currently. They were very open and easy to talk to. They showed me how the trader looks for profits and continues to hold positions but makes additional buys or sells (if short) and trades in the new stock price range.

My suggestion is to go to their office and get the details of the system.
 
Quote from Frank Coolidge:

Hmmmm.....so I am not clear about why Cooltrade would fit as a scam? I have used the software and I have my best friends using it and we are all having great trades execute. Each strategy executes trades to rules that I have put in. It buys and sells automatically.

Sure I saw the same report and I asked the guys at Robotic Trading Systems to explain it. I have even seen the machine that is still running currently. They were very open and easy to talk to. They showed me how the trader looks for profits and continues to hold positions but makes additional buys or sells (if short) and trades in the new stock price range.

My suggestion is to go to their office and get the details of the system.
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Cooltrade is under review
 
Hmmmm.....when somebody defends a company with ONLY 6 total posts under their name, I get suspicious.

It should be soo easy to know which ones are legit, but it's not.

We all know it's shady to sell something so "valuable". This would solve everyone's financial problems!!! LOL. And of course it doesn't. The Fed government would buy the system; hedge funds trading billions would use it. LOL. But they don't. I wonder why. Also, I see videos online from other gurus and EVERY single video has them making money. LOL. That may not be technically fraudulent, but it's definitely not honest nor likely ethical. They hype winners every single day, and never talk about the losers. That is SALES, not trading. It's pretty lame.

I just went to cleartrade's website....looks like it cost a few thousand. that is nothing. so it makes me wonder, 'do they not have much money for a professional website?' 'why does their website look 10 years old?' IBM certainly has a nice website.
 
A post was made to the CoolTrade Community board to see if some ACTUAL clients would come and talk about their experiences with the software.

Seems quite unjust for a NON-USER to call something a scam.

No software or product in the world can satisfy the biases of everyone, especially when they are posting about something know absolutely nothing about.

The robotic trading systems office has an open door and the person posting (sounds local) could easily go to their office and see the product FIRST-HAND and see that the software is real, instead of jumping to incorrect conclusions.
 
Again, nobody is claiming their are no losers, they are just claiming LIFO as the particular strategy that was talked about. I just went to www.robotictradingsystems.com and it looks like an up to date website to me. What are you looking at? Also if Cooltrade is a scam then how does TD Ameritrade, E*Trade, Interactive Brokers, MB Trading, OptionsHouse, OptionsExpress, and TradeKing all support the software for their clients? It is a tool to help people automate their own strategies and has more broker support then any software I have seen
 
only trust someone offering to teach you their secrets on their deathbed.

deathbed.jpg

Jack Hershey in his final moments
 
area code 801 is Utah and for whatever reason MANY scams originate out of utah so beware.

EMG how about Hindsight Trading...charging 10K to learn their "propitiatory" signals and how to trade emini's. Another group out of Utah. My nephew is thinking of signing on and he has absolutely no experience in the markets or in trading.


Quote from usrx201:

I had an email from Preston James' organization which said they couldn't reach me by phone. (I'm glad I had changed my phone when I moved), so to please call them. Yeah right. If I did so my phone would be passed around Preston's sales army. I had 7 calls from different people throughout the year even bothering me at work. $6000 for the basic "mentoring", $10,000 for the classic. I had signed up for Preston's master trader online program. All it was , was bad calls on stocks using covered calls with some put protection which always ended up losers or eaten up by bad fills and over adjustments. I doubt he ever traded those live. I made sure I was canceled, and I still had access to the website! even though I don't really look at the bogus calls anymore. I was only checking if I was canceled. At least my credit card was not charged anymore annually, but looks like they moved on and don't even have anyone hired to enforce the website. The main program is the selling of "mentorships". The website is just a front to get your info and phone number on the phone list to pressure sale mentorships! And always with calls by what sounds like newly hired poor salespeople who don't know how to trade. A few months ago, I got spammed with email by Preston's organization to check out Karson Keith's new option trading program. It was "first mate" Karson taking over for Preston one day on the newsletter who had a bad call on a chinese stock that cost me at least a thousand dollars the year before. I was dismayed to find out Karson's video was that of a some fast talking kid who didn't look over 24. and just pitching and pitching and pitching. Here's the last video that came in an email with the "midnight" deadline. After 20 or so of his pitching video links in the emails before. At first the pitch was like $1000 for the program, then "great deal" to halve that to $500. And now with this last email it's $97. No doubt, just an entry to more pushing for more "advanced" programs later on..

http://stockwizkid.kajabi.com/sp/6528-stock-wiz-kid


And here's the latest email I got from one of Preston's seemingly new hires:

""""""""""""""""""""""""""
Hoping to speak with you directly- Pirate office
Wayne Wiseman [waynew@tradersedgenetwork.com]

Hi < >,
Unfortunately, I have not been able to connect with you so I thought I send one last email. We know at some point you showed an interest in Option Trading by purchasing some of our materials.

I'd like to spend a few minutes with you and talk about your trading and introduce you to a very unique training opportunity. Most of what we offer, is offered to the open public, any one can purchase our materials. We'd like to chat with you about entering into an Internship with a professional trader, one on one. Unlike our study materials, the Internships we offer are not opened to the general public. We find too many traders, trade to win, not necessarily trade to make money (if you think about it, there's a difference). An Internship is for those people who are serious about making a lot of money through their trading. For these folks, trading is not a hobby, but a business that they take very seriously.

I'd like to invite you to give me a call. If this turns out not to be the right fit at this time, at least you'll know what to do to prepare for it down the road. I've set aside today and tomorrow to have these discussions.

I hope to hear from you.

Best Regards!

A. Wayne Wiseman
Director of Education
Pirates office:
801-769-8983
"""""""""""""""""""""""""""""""""""""""""""
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