I don't ever recall him making that claim that he can make 20-30% a day but he would often mention how he only looks for stocks that have the potential to move XX%-XX%.
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Federal Trade Commission Cracks Down on Warrior Trading For Misleading Consumers With False Investme
- Thread starter trader221
- Start date
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As of today his multiple disclosures range from day traders profitable percent= 9.8% - to 50% percent profitable[Large sample, several brokers] .
IF its that hi + could be that hi% ;
why not offer a money back promise??
Sound like he should thank God they only fined him $3 million + he made$ 10s of millions.
I seldom, if ever returned a trading book with money back promise, but i got to look into a book before i bought it.
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Baron
ET Founder
He does indeed trade the one or two stocks every day that move up 20 to 30 percent. The claim is correct.
Then why are the regulators coming down on the guy, if his claim is true?
No idea. Maybe this particular claim isn't that relevant and they feel he is generally over promising.
If enough people complain....the regulators have to do something to appease the masses.
That three million dollar fine is laughable. It's just a publicity stunt of some sorts to make all those small complainers feel happy.
Crime pays, evil prevails when the day is over and a new one starts.
Not possible, the way the markets are now, he needs to be honest about it and claim 50,75, 100 %
And his claim is actually easily attained. What he doesnt mention are the 20 stocks he will trade and lose 5-20% or more on at the same time. Weasel worded.
His strategy is finding penny stocks that will short squeeze on the open. As everybody is using his scanner settings, it is like a front run but legal. So yes 20-30% is possible.
Baron
ET Founder
The important thing to understand here is that we're talking about the FTC, not the SEC or some other regulatory agency. So the FTC focuses on what your promised claims are, and how those claims play out in real life with real customers. In other words, using phrases like "Trade with certainty" and "Strategies you can use immediately to increase profits and reduce losses NOW" are indications that if you purchase the course, there will be some level of increased profits and reduced losses in those customer accounts.
But the FTC couldn't find any indication that the course helped people make money. Few customers if any were "trading with certainty" and their accounts did not reflect the claim of increased profits and reduced losses. In fact, almost all of them lost money, not made money.
I think he may have brought additional scrutiny on himself because customers were paying thousands of dollars for the training. If they had bought that information in a $20 book then there probably wouldn't have been many complaints filed on him at all. But when customers are paying thousands and thousands, and then losing more thousands trading his strategies on top of that, that's a whole different ballgame.
But the FTC couldn't find any indication that the course helped people make money. Few customers if any were "trading with certainty" and their accounts did not reflect the claim of increased profits and reduced losses. In fact, almost all of them lost money, not made money.
I think he may have brought additional scrutiny on himself because customers were paying thousands of dollars for the training. If they had bought that information in a $20 book then there probably wouldn't have been many complaints filed on him at all. But when customers are paying thousands and thousands, and then losing more thousands trading his strategies on top of that, that's a whole different ballgame.