TraderHouse, Andy Shearman, Moneymap
- Thread starter vingbel
- Start date
I don't know anything about the Malibu location but if it's anything like the UK fiasco then don't waste your money. I joined a free trial online seminar for a couple of days, the whole thing was a complete joke, not one trade was profitable, not one! For the next month or so I got plagued by phone calls from Shearman trying the hard sell (I had to confirm a landline number before they would let me have the free trial), and dozens of emails from one of their sister companies who sell the Nostradamus Compass.
Bottom line their MoneyMap is overpriced ($4000 when I took the trial, plus a monthly data charge and/or licence fee), and it's no better than a free MT4 indicator which I've attached below, that's the reason I took the free trial, to compare the two. Shearman has apparently threatened to sue the developer so that probably tells you how similar the indicators are.
I also know someone who attended one of their courses in the UK and he said it wasn't worth anything, small profits and big stops lead only one place!
Anyway here's the indicator, it might be worth checking to see if there are any updates but this one works just as well as the Traderhouse one, and it's free!
MoneyMap.zip
Thanks for the information. The way it works here is you get the software and on-site training. I like the trainer and the trading room, but the price seemed steep. And though I could see the value as they're offering a lot of on-site training, I don't like the cost of the data feed, which I understand is available free with most brokers.
Plus I dug up some pretty scathing reviews of the man himself, so I'm left with doubts. The actual trainer seemed sincere and believed in the system and he even appeared a bit uneasy about the cost of the program. That's why I'm considering it.
I will look at the link you attached (thanks for that, too) and go from there.
Are you serious, $5,000 for a couple of days by the ocean and a Fibonacci and MA tool that's free on most every free charting package out there! You're right data feed is usually free, the reason they want you to use their brokers feed on the software is they probably get commission every time you place a trade, that's the way it worked before when they had a deal with Gain, something like half a pip rebate per round turn.
I've just looked at their training syllabus, most of it is really basic stuff that you can learn yourself in a couple of days from free information around the net, but the thing is you're not going to walk out of there in two days and be able to trade profitably. Sure they'll show you a few trade set-ups, tell you how to set up your charts and platform to place a trade, they'll even show you how to draw a trenline and use a couple of indicators, but none of that will help you become a consistently profitable trader.
You would be better off putting your $5000 into a trading account rather than pay it to those sharks. There are people who will teach you in real-time in a live market environment where you can earn-as-you-learn by trading your 5k account, and for a fraction of the cost that these jokers want. A mentor will spend weeks or even months mentoring someone and moulding them into a consistent confident trader, it's not going to happen with 2 days training and a Fibonacci tool!
If you want a couple of days trading by the ocean wait a few months, you'll be able to take your laptop down to the ocean and spend all summer there if you want because you will have learned properly how to trade rather than been shoved out of the door 2 days later and 5k lighter!
It makes no difference to me where you spend your hard-earned money but you seem like a decent guy and I hate to see these sharks ripping off gullible novices like this, it should be outlawed!
My experience dates back ca. 3 years. I'd stay far away from these guys. I've tested their Moneymap software ...it's nothing special and can be set up for 0 $ on any MT4 platform.
Looking at confluence of levels, be they based on MA's, fibs, market profile or pivots etc. makes sense but is just one piece of the puzzle. There isn't anything special about their "grid". The aggressive phone calls and the other stuff that came along with it , a shady Belize based FX broker and that ridiculous "compass" didn't improve their reputation either.
'MoneyMap' - you've got to laugh at martketing names these vendors, sorry 'mentors' come up with.
All you've got to do is read the map (or be taught how to read it) and this will lead you to the riches
Yes, it's that easy folks. I should know because I was just like you once, poor, no hope, repo men after me but then I DID SOMETHING ABOUT IT - and if I can then you can!
Cue pictures of sun drenched villas, flashy cars, hot blondes etc.
All you've got to do is read the map (or be taught how to read it) and this will lead you to the riches
Yes, it's that easy folks. I should know because I was just like you once, poor, no hope, repo men after me but then I DID SOMETHING ABOUT IT - and if I can then you can!
Cue pictures of sun drenched villas, flashy cars, hot blondes etc.
Read it? No it's better than that, it's a sat nav system for the FX market!
Does that guy live in the real world?
I basically agree with you. Like I said, I like the trader and it would be more than a couple of days. BUT I'd rather go your route and find a mentor. Andy suggestions? I live in L.A. and don't want to train over the Internet. BTW, it took me forever to find someone who would mentor me for trading stocks. But I was persistent and found someone who wasn't expensive or arrogant and who was a good teacher. I'd love to find the same for Forex. Either an individual trader/teacher or in a trading room (live.) Again, thanks for your warning! (I'm still not on my home computer so I haven't been able to check your link yet.)
I was browsing through meetup.com for Miami and saw a forex group, so I went to their meeting. Sure enough, it was nothing but a sales pitch for a $5000 software called moneymap. They have a VERY impressive office right on ocean drive near the Tides hotel but that was about the only thing impressive. They had a guy there by the name of Armando who runs that office and claimed to have been sooooooo lucky to have been mentored by this guru in London etc. He's willing to let you in on his program if you buy the software and if you are good he'll let you trade for his account.
It's all BS....Wizetrade all over again.
It's all BS....Wizetrade all over again.
'Andy' suggestions? Freudian slip?
No suggestions for LA I'm afraid, sorry, maybe place a few ads in the hook-up forums on various sites but get ready to be bombarded by offers. You've obviously been through the process before but I'll mention it again for other readers benefit, never pay anyone one red cent until you're absolutely sure they know what they're doing and really can trade profitably!
Do you really need a mentor though? If you've been successful in equities just apply the same principles to forex, in essence they're not a million miles apart.