Need Help of a trading community.

Quote from MBfromLA:

Please help. Two weeks ago I have signed up to a trading web site called bestdaytrader.com , I don't mind trying new things and since they don't offer a free trial, I said oh well it's 200$ lets see how it is.

Unfortunately I became a victim of the worst scam on the net. The room itself was terrible, lots of sarcasm, ignorance and lies.

This is how it works. At the open they throw at you about 10 stocks,, example: XYZ buy 25 , sell 24.90. You get them all at 6:30 at the open, after that the job of the owner of the room is basically done he just looks at the charts and if one of them works nice he will say XYZ . That's it,, done, and the other once that didn't trigger or reversed,,noone cares about. And noone bothers to call the exits or analyze the market.

At the end of the day, he sits down,, looks at the charts,,the once that worked he will pinpoint the every top and bottom of the chart as his potential exit, the once that didnt work,, he will take a one cent loss on or even brake even, or as if he wouldn't trade it at all,, ,, and of course he claims you would've made 11% in average if u traded his calls.

As long as you are not blind you should be able to see the support and resistance levels on the charts, so basically his job is doing nothing,, considering the fact that those trades are generated by the computer.

People in the chat, I would say 99% of them are desparate traders that keep failing anywhere else,, or newbies hoping to average thousands of profits per day. I'm not certain of this but there are nick names in the chat that are not legit,, meaning they just exist there as if it's a popular site but they are fake,, just to add traffic.

Anyhow,, this is what happened......and this is the help i need...

Today I was busy trading and I noticed some extraordinary comments in the room, one guy said "Me and my wife are hoping to make money here, we depend on this place, we pray god for this place to help us build our future" something like that...

Sorry but i couldn't resist and said "i'm sorry for your and your wife for depending your life on the chat room". Immediately i was kicked out of the chat room, banned. My membership was canceled, refund for the entire month or the half month was denied. I was scammed , robbed and lied to.

Is there something I can do to get a refund and prevent other people getting scammed at bestdaytrader.com

And by the way that Shay guy,,the owner of the place, won't hesitate to call someone a buthead if they don't agree with him, and would tell u some stupid story how his dad made him dig a hole with a shovel cuz he didn't agree with him. Pleae what can i do to get a refund and stop others for signing up with them. IT's not a matter of money, it's a matter of a principal,, thanks all..

Best Regards,
Marlon
More...

a cheap lesson. thanks for a reminder of what a jungle is out there. let us know if you get your money back.
 
I have also been 'scammed' by the bestdaytrader / shay / shogun-trader chat room.

Basically, ditto for everything that the first poster said. Its all b.s. marketing. I didn't know what I was getting into, and I guess that is how he makes most of his money -- off of people that are ignorant (newbies).

After learning more about what makes a real trading system, I joined a site that so far has done wonders for me... www.008trader.com -- I suggest that you look for similar trading sites that show EVERY trade with both entries and exits. This is VERY important as was the case of www.bestdaytrader.com (shay only gives entries, not exits -- how stupid could i have been?).

Anywhoo, like other posters here said, make sure you do your due diligence and ask questions first, not last (hindsight sucks, i know).

-Thomas
 
_oh oh .... waxie , better watch out !

from the FAQ in the link to 008

-WAIT, YOU WILL PAY ME?-

-Yes. You read that right. You become a member, refer a friend, they sign up, and we pay you up to $50. It's that simple. There is no limit to the amount of times you can do this. It is a low-risk marketing tool (we like low risk!), and at the same time, a great opportunity for our members. We know our members are the greatest advocates of the 008 system, because THEY are making money!-

:p
 
I too was once a member at BestDaytrader.com. When I first started out, I knew nothing about the market. Shay did teach me some basic concepts.. but nothing very significant. What I did find out is that he receives a commish on every trade that his clients make thru the "Recommended" broker, Speedtrader. (Gee, I wonder why he makes so many calls during the day...)

I chose to leave that room because of all the rudeness that exudes from Shay... Heaven forbid, if you have a different opinion than Shay. I have heard many other previous members complain of the same kind of nonsense. One member mentioned to Shay that he was interested in trading the Eminis. Shay's comment was, "before you do that, take $10k and put in your fireplace... now light it up with a match, watch it burn..." then he went on to say... "if you trade eminis.. your not welcome here in this room... and if you trade eminis.. you will burn out within a month."

Gee, I wonder why he is so against trading emini's....??? Perhaps cuz Speedtrader doesnt support the trading of such?? Thus, no commish for Shay??

Anyway, this was all a couple years ago for me and currently, I along with a couple other buddies, are doing just fine trading emini's, stocks and options... with out the help of Shay's infinite and superior trading knowledge. Oh, did he tell you that he is a Genious with no need of further education? F---ing absurd!

Life's lessons can be rewarding if you let them be... even when they seem to be very negative.. you have still learned something very valuable. Going to College again would be much more expensive than a few months shelling out 200 bucks a month.

Nuff Said.... Cheers!
 
Welp, the peculiar thing is that this guy was a sponsor on ET. Is there ANY vendor ET will not take for the almighty dollar? I believe ET would do just fine with brokers/data/software advertising. I don't know why ET owner feels the need to stoop to such a low level of letting this scum advertise on ET. And bestdaytrader is not the only example... traderbrad.com anyone?

Everyone will be judged according to their deeds.
 
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