Those who can, trade.
Those who can't, sell trading courses.
Those who can't, sell trading courses.
What to do with a corrupt trader???
- Thread starter Franky12
- Start date
If you feel that the seller has misrepresented the product and will not give you a refund then you may want to consider trying to do a credit card chargeback (assuming you paid by credit card). You will of course have to return the materials back to the seller. I believe you have 60 days but check with your credit card company to see what their policy is.
Of course if the seller delivered exactly what is described on the web page which I looked at briefly then I'm not sure if you have any recourse. Does the seller state anywhere that they guarantee certain results? You may have to just chalk it up to a lesson learned.
You could file a complaint with the SEC, CFTC, or trade commission, but it'll go in the trash can. A quick look at the guys site and it doesn't look like you have anything to substantiate a complaint. Looks like he's done the usual CYA - posted the usual "hypothetical trade results" disclaimer, clearly said there's no guarantee, etc. You basically knowingly bought a book/course/piece of educational material expressly without guarantees.
If it didn't make you profitable, it's no different than buying a book on woodworking and them complaining that it didn't turn you into a carpenter or buying a book containing a "system" for playing poker or blackjack and then complaining that you didn't clean up at the casino.
If you want to lodge a real complaint, you'd need to be able to document specific fraudulant or misleading claims or promises (not just sales hyperbole that's negated by standard disclaimer verbage) or otherwise show material misrepresentation, AND (assuming you could show all that) you'd probably need to document that you took specific trades exactly in accordance with his guidelines, that you incurred losses, and that those losses were not the result of your own poor trading/executions.
Consider yourself lucky - think of all the people who spend thousands of dollars attending onsite trading classes and still can't trade afterward.
I agree with AA. Its probably a lost cause to get your money back, but I do think you should file complaints with the CFTC and the FTC. Even though nothing may come of it, it starts a paper trail of complaints against the vendor and if enough people file over time then maybe they will do something. But even if they don't, just having a thread like this will hopefully deter others who read this before they buy from this guy.
People like PoundTheRock, should be ashamed. Who here never played the sucker at some point in their trading education? To put down someone because they made the same mistake (believing that some holy grail exists) that 99% of all aspiring traders have made is pure nonsense. And you can say he is crying, but all I heard was a request on where to file a complaint. IMO he is doing many newbies a service by exposing yet another fake in the never ending list of dream merchants that peddle crap to the unsuspecting.
Franky, I hope you get some kind of resolution, good luck.
People like PoundTheRock, should be ashamed. Who here never played the sucker at some point in their trading education? To put down someone because they made the same mistake (believing that some holy grail exists) that 99% of all aspiring traders have made is pure nonsense. And you can say he is crying, but all I heard was a request on where to file a complaint. IMO he is doing many newbies a service by exposing yet another fake in the never ending list of dream merchants that peddle crap to the unsuspecting.
Franky, I hope you get some kind of resolution, good luck.
I've got a bookshelf full of holy grails myself. They dress up my office quite nicely.
Haven't you ever heard buyer beware?
Your not going to stop this guy from selling his CD. Because if you bought it then someone else bought it too.
Live and learn.
That's the whole point! Being a trader means playing the sucker at times.
This is another case of an aspiring trader who gets diverted from his real mission of learning the profession. One sees a lot of that here -- angry newbies who can't figure it out so they want to go after someone instead. I went down the same path, purchasing books, courses, software, etc. And you know what? I got a little something out of 90% of the material, even though some of it was useless. So, when I see whiners who feel that they are entitled to working in this profession, it's a real laugh. Successful traders can see right through it -- these people get caught up in their little dramas, and I'm thinking yeah, I want to trade against this guy.
So no, I don't take back the previous post. The reason for saying these things is to jolt these people out of their inanity. Just like trading, admit your mistake and move on. Instead of trying to chase this guy down, spend your time productively and pick up a technical analysis book from the library.
Send a written complaint to your State Attorney General and to the Federal Trade Commission in Washington.
They have quite frequent(to the surprise of many)negotiated refunds from these vendors. The FTC is especially proactive in this area.
Make sure you complained to the seller first and requested a refund in accordance with any refund policy they might have.
the FTC has gotten millions of dollars refunded
They have quite frequent(to the surprise of many)negotiated refunds from these vendors. The FTC is especially proactive in this area.
Make sure you complained to the seller first and requested a refund in accordance with any refund policy they might have.
the FTC has gotten millions of dollars refunded