# Question about SchoolOfTrade.com



## GotItForCheap (9 February 2010)

Hi all,

In reference to: schooloftrade.wordpress.com

I found this guys site and been watching the videos posted on his blog about his methodolgy and return he is getting on his day trading - is he doing anything or using anything for the course cost of $3699 that can't be sourced or learnt elsewhere? 

Maybe some old hats out there have 2c they'd like to share .

Thanks in advance!

GotItForCheap


----------



## skyQuake (9 February 2010)

*Re: Question on SchoolOfTrade.com*



> If the market is below your entry and you are facing a loss, move your stop up to entry and the market will force you out of the market for a small loss




Wow and they say they trade crude? Gotta sit though BIG squeezes (if you don't go bust first)


----------



## GotItForCheap (9 February 2010)

*Re: Question on SchoolOfTrade.com*

Looking for more of an opinion of whether this is the 'real deal' or not; so to speak.

The website says a lot but at the same time doesn't say much if you catch my drift.


----------



## Garpal Gumnut (9 February 2010)

*Re: Question on SchoolOfTrade.com*



GotItForCheap said:


> Looking for more of an opinion of whether this is the 'real deal' or not; so to speak.
> 
> The website says a lot but at the same time doesn't say much if you catch my drift.




How long have you been running the website for, GIFC?

gg


----------



## nunthewiser (9 February 2010)

*Re: Question on SchoolOfTrade.com*

I saw the movie " school of rock " if that helps at all ?


----------



## Wysiwyg (9 February 2010)

*Re: Question on SchoolOfTrade.com*

I watched two tube scenes (which happened to be winning trades) and Mr. James says you have to join. There is a free 3 week trial to know for sure.



> Our main indicators include Market Profile, Price Action, Momentum, & Volume.




"Buy now, sell now" indicators can be created with your own charting software. Then a defined trade management adherence to follow through.


----------



## GotItForCheap (9 February 2010)

*Re: Question on SchoolOfTrade.com*



Garpal Gumnut said:


> How long have you been running the website for, GIFC?
> 
> gg




No idea what GFIC means, but its not my site if that helps?


----------



## GotItForCheap (9 February 2010)

*Re: Question on SchoolOfTrade.com*



Wysiwyg said:


> I watched two tube scenes (which happened to be winning trades) and Mr. James says you have to join. There is a free 3 week trial to know for sure.




Yeah I can't get that part to work, throws up an error when I try to sign up as a trial member  does it work for anyone else? I'm interested to watch if only it would work.


----------



## Trembling Hand (9 February 2010)

*Re: Question on SchoolOfTrade.com*



GotItForCheap said:


> Yeah I can't get that part to work, throws up an error when I try to sign up as a trial member  does it work for anyone else? I'm interested to watch if only it would work.




Are you in oz or the USA? Don't know how are going to go trading CL &GC with 6 -15 tick SL from Oz. You have about a 1 sec latency without factoring in that you are following some else's calls which will ad another huge delay.

With CL having a 1 min ATR of around 12 ticks I can see what will happen.
:samurai:


----------



## professor_frink (9 February 2010)

watched the vids. Unimpressed.

when you look at the chart, he's picked up 40 cents at the end of a 5 dollar move, and then tries passing it off as a 10 tick profit. That's more than a little misleading. The reality is that he made 3 1/3 ticks per contract. Trading a short term breakout and looking to scab 4 ticks on 2/3 of the position is hardly something you'll want to try and replicate.

In one of his vids, he talks about trading a "2 step short" This is also quite commonly referred to as a 123 pattern

You can have this pattern for free

http://www.trading-naked.com/123-reversal.htm

His "breaker long" pattern is also pretty well a 123, but used as a continuation pattern.

That'll be 3.5K thanks


----------



## GotItForCheap (9 February 2010)

*Re: Question on SchoolOfTrade.com*



Trembling Hand said:


> Are you in oz or the USA?




Australia



Trembling Hand said:


> You have about a 1 sec latency without factoring in that you are following some else's calls which will ad another huge delay.




I considered the lag between him calling the setups and myself clicking the button (maybe). Thanks for reinforcing the angle.

TH - If you were to replicate these scalps from here, who would you go with for brokerage/execution with a view to minimise lag?


----------



## GotItForCheap (9 February 2010)

professor_frink said:


> when you look at the chart, he's picked up 40 cents at the end of a 5 dollar move, and then tries passing it off as a 10 tick profit. That's more than a little misleading. The reality is that he made 3 1/3 ticks per contract. Trading a short term breakout and looking to scab 4 ticks on 2/3 of the position is hardly something you'll want to try and replicate.




Many thanks Prof! This is exactly the feedback I was looking for - he talks so fast and scribbles all over his charts its easy for a newb such as myself to go glassy eyed and not be able to detect any exaggerations or straight out BS that may be said in the commentary.

/me trying to remain wary of the scammers.

That said, regardless of its true or not, he is doing a good job of making it look real if anything


----------



## professor_frink (9 February 2010)

GotItForCheap said:


> Many thanks Prof! This is exactly the feedback I was looking for - he talks so fast and scribbles all over his charts its easy for a newb such as myself to go glassy eyed and not be able to detect any exaggerations or straight out BS that may be said in the commentary.
> 
> /me trying to remain wary of the scammers.
> 
> That said, regardless of its true or not, he is doing a good job of making it look real if anything




No worries, hope it helps


----------



## Mr J (9 February 2010)

*Re: Question on SchoolOfTrade.com*



GotItForCheap said:


> No idea what GFIC means, but its not my site if that helps?




*G*ot*I*t*F*or*C*heap.



> is he doing anything or using anything for the course cost of $3699 that can't be sourced or learnt elsewhere?




Not likely. I'd recommend reading everything you can on the net, and put the $3700 aside for when you're ready to trade.


----------



## LloydH (10 February 2010)

This guy is a FRAUD in my opinion. I am speaking from experience as I was stupid enough to join! Watch my Review on YouTube, please search for JamesWaveUT, kind regards Lloyd Hopkins


----------



## GotItForCheap (10 February 2010)

Thanks for the video and review Lloyd and I am sorry for the loss you have experienced with this guy - for anyone else interested the video slideshow and secrets to SchoolOfTrades fictional success is linked below:

http://bit.ly/a48Gbi

It makes complete sense to me that the only way this guy is getting filled instantly is using simulation. The homework you have done looking at the order screen really shows this.

What a scammer! 

NB. Have you yet identified a futures daytrading method thats working for you?


----------



## Trembling Hand (10 February 2010)

Boy oh boy. There is a pattern to these type of dudes.

*High win rate.*

High dollar value quoted as being won each day.

No mention of commission cost or other expenses.

*No mention of minimum capital.*

Profit % based on margin or "look we made $1200 on just 2 contracts"

Small profits per trade relative to what they risk, normally negative R:R!!


----------



## professor_frink (10 February 2010)

LloydH said:


> This guy is a FRAUD in my opinion. I am speaking from experience as I was stupid enough to join! Watch my Review on YouTube, please search for JamesWaveUT, kind regards Lloyd Hopkins




sorry to hear Lloyd. Great review though. Hopefully nobody else gets caught up in this kind of nonsense in the future.


----------



## GotItForCheap (10 February 2010)

Trembling Hand said:


> Small profits per trade relative to what they risk, normally negative R:R!!




Is it ever acceptable to have a negative R:R if you're using "high-percentage win" setups such as those spruiked by this gent?

Correct, he never says anything about commissions, fees, starting capital, etc.


----------



## Trembling Hand (10 February 2010)

GotItForCheap said:


> Is it ever acceptable to have a negative R:R if you're using "high-percentage win" setups such as those spruiked by this gent?




I have not seen anyone show that they can survive doing it, would love to see it being done with real money. 

I just don't know why you would want to. Trade all day then get two go against you and you lose all your hard work.
Its a joke.


----------



## GotItForCheap (10 February 2010)

TouchÃ© - thanks for the insights


----------



## LloydH (9 March 2010)

HI GotItForCheap,
Thanks for your comments and link to my video. At this point I have not found any other futures trading methods, have to say I am not really looking for any either. I am a software engineer by trade which led me first of all to Ninja Trader. It looked like an interesting platform for developing automated trading systems. Unfortunately a Link with Ninja Trader and the broker I signed up with , namely Mirus Futures, led me directly into the hands of JJ and the schooloftrade.com who were promoted as an educator on the broker website.



GotItForCheap said:


> Thanks for the video and review Lloyd and I am sorry for the loss you have experienced with this guy - for anyone else interested the video slideshow and secrets to SchoolOfTrades fictional success is linked below:
> 
> \2had to remove this link as I do not have 5 posts yet
> 
> ...


----------



## LloydH (17 March 2010)

Check out Series 2 of my video on You Tube, please search for JamesWaveS2, regards
Lloyd Hopkins


----------



## BWeiss1985 (21 April 2010)

Greetings Everyone, I saw this post and wanted to provide some feedback as well.

I joined about a year and a half ago, and although one individual on this thread had a bad experience, my experience has been nothing but amazing.

I found JJ to be the best educator i'd ever seen, and he really worked his butt off to help me learn what I needed to get started.

It took me 3 weeks on a simulator to get the basic patterns down, I focused on the Wave Pattern on the currencies, and I started with 1 contract fairly easily.

I was given the specific 1-contract strategy and it worked really well to get me going, making a little money each day, but preparing me for a larger trade size in the future.

The whole process has been a great experience.  I earn about $400 per day right now on 4 lots, and even though it required hard work, and maybe im a quick learner, but this has provided me the time I needed to coach my kids, and im very great full to the whole group at SchoolOftrade.com

I think the free trial is worth the $3,000 he charges for membership, he should charge a lot more for the time he gives his clients, and my returns have paid this many times over.

Id love to provide more feedback if you need, and if youre reading this post, I would recommend you give the free trial a chance, its well worth your time.

god bless


----------



## nunthewiser (21 April 2010)

Good grief 

can we get fries  with that?


----------



## Joe Blow (21 April 2010)

BWeiss1985 said:


> Greetings Everyone, I saw this post and wanted to provide some feedback as well.
> 
> I joined about a year and a half ago, and although one individual on this thread had a bad experience, my experience has been nothing but amazing.
> 
> ...




After some simple detective work I can confirm that this post is spam from the owner of SchoolOfTrade.com who has decided to pose as a satisfied customer in an attempt to counter negative feedback.

Unfortunately, we see this kind of dishonesty all too frequently here at ASF and have decided that when we can confirm an instance of blatant deception such as this one, we will make it public for the benefit of those reading this thread.


----------



## nunthewiser (21 April 2010)

Joe Blow said:


> After some simple detective work I can confirm that this post is spam from the owner of SchoolOfTrade.com who has decided to pose as a satisfied customer in an attempt to counter negative feedback.
> 
> Unfortunately, we see this kind of dishonesty all too frequently here at ASF and have decided that when we can confirm an instance of blatant deception such as this one, we will make it public for the benefit of those reading this thread.





Yep , well that kind of fraudulent and dishonest behaviour just gives me a big STAY AWAY signal .

Obviously there product is designed to trick and decieve people if they have to try and stoop this low to market the crap.


----------



## captain black (21 April 2010)

Joe Blow said:


> After some simple detective work I can confirm that this post is spam from the owner of SchoolOfTrade.com who has decided to pose as a satisfied customer in an attempt to counter negative feedback.
> 
> Unfortunately, we see this kind of dishonesty all too frequently here at ASF and have decided that when we can confirm an instance of blatant deception such as this one, we will make it public for the benefit of those reading this thread.




Well done Joe, this thread is already high up in the list for anyone who googles SchoolOfTrade.com


----------



## Bushman (21 April 2010)

Joe Blow said:


> After some simple detective work I can confirm that this post is spam from the owner of SchoolOfTrade.com who has decided to pose as a satisfied customer in an attempt to counter negative feedback.
> 
> Unfortunately, we see this kind of dishonesty all too frequently here at ASF and have decided that when we can confirm an instance of blatant deception such as this one, we will make it public for the benefit of those reading this thread.




What is with doing something like this? 

Surely the managing director would reveal who he/she is and then provide a critique of the strengths and benefits of the using their trading system or whatever it might be that they are flogging.  

If they are operating under an AFSL then what are their responsibilities re representation on the internet? 

Now they have blown any credibility they might have had in one foul swoop. 

Well done Joe and mods. The internet can be a minefield for the naive.


----------



## LloydH (23 April 2010)

While I am countering JJs (INVALID) claims to You Tube that my video is infringing his copyright anyone interested in viewing my story can watch it on dailymotion.com

best regards
Lloyd Hopkins



LloydH said:


> Check out Series 2 of my video on You Tube, please search for JamesWaveS2, regards
> Lloyd Hopkins


----------



## LloydH (27 May 2010)

You Tube have re-instated my video now, please visit my channel called "MrLbhopkins" where the video and my blog can be accessed

regards
Lloyd


----------



## LloydH (27 May 2010)

My video can be accessed directly here : http://www.youtube.com/watch?v=jxFRI-j4SX4


----------



## Wysiwyg (27 May 2010)

LloydH said:


> My video can be accessed directly here : http://www.youtube.com/watch?v=jxFRI-j4SX4





Lloyd, surely they would have mentioned who their brokerage firm is? If not, some sleuthing could turn up the name of their broker. As a business they should be obliged to reveal this information anyway. 

Oh and in my attempt to stop the pandemic of misspelling the word "lose". 
Loose (two  o's) relates to tight.  Lose (one  o) relates to win.  

Hope you get all the facts with this companies (supposed) live trading scenario sorted out.


----------



## LloydH (28 May 2010)

Hi Wysiwyg,

Thanks , I had already spotted and corrected that spelling mistake actually, looks like I have been handing out the old You Tube link! so many thanks for spotting and pointing this one out to me. Here is the correct video link http://www.youtube.com/watch?v=7s_Pz3p-EhE

regards
Lloyd




Wysiwyg said:


> Lloyd, surely they would have mentioned who their brokerage firm is? If not, some sleuthing could turn up the name of their broker. As a business they should be obliged to reveal this information anyway.
> 
> Oh and in my attempt to stop the pandemic of misspelling the word "lose".
> Loose (two  o's) relates to tight.  Lose (one  o) relates to win.
> ...


----------



## Wysiwyg (28 May 2010)

You could contact their broker and explain that you are not seeing the same trade data as proposed by the "live trading room". Directing investigative work toward the fact whether they are trading live or on a Simulator would settle the issue for good. That is the approach I would take because I don't beat around the bush if someone is ripping people (or me) off. Anything else is a waste of your time.


----------



## LloydH (28 May 2010)

Hi Wysiwyg,

I think the proof is conclusive, there is NO doubt whatsoever what is going on with schooloftrade, they trade in SIM mode. Their broker of choice was Mirus Futures, who incidentally have since cut any ties with SOT and removed their listing from the Mirus Futures website.

Mirus Futures did make some comments in response to this case which can be viewed on T2W if you are interested, link here http://www.trade2win.com/boards/day-trading-scalping/88014-schooloftrade-james-wave.html

I have to say my experience of Mirus Futures as a broker has been ok, the Zen-Fire systems they use are very good and proving to have a fast and reliable service.


----------



## LloydH (28 May 2010)

Following the re-instatement of my videos by You Tube I am receiving an increasing number of emails from ex-members of schooloftrade.com all with similar stories to my own. 

A Petition is now available for all ex-members who would like to join a class action law suit against www.schooloftrade.com. 

Please sign the petition here http://www.ipetitions.com/petition/schooloftrade/

best regards
Lloyd


----------



## MACD (28 May 2010)

Hi Lloyd,

Nice video.  I honestly can feel your pain.  I went through the same thing with Traders International.  Both TI and School of trade have things in common - both trade in sim, both are a waste of money and both are full of cr@p.  Keep up your fight and don't let them get away with it.  Best of luck.


----------



## IB12 (1 July 2010)

Thanks for this thread.
I saw SchoolofTrade on Youtube. 
First thing I thought was the best traders will make losses. Where are theirs?

And the second thing was; what is all this funny terminology for such simple indicators and why is everything made more complex than it's supposed to be??

Then I did some research and found ... ah yes ... it's too good to be true.


----------



## LloydH (1 July 2010)

Here is an example of one of the indicators JJ misrepresents as being his own, JJ will refer to the Pace Of Tape often 

here is a free pace of tape
http://www.tradewiththeflow.com/2010...ape-indicator/


----------



## LloydH (7 July 2010)

MACD, thanks for your support, plenty of support coming from many places, I will keep going until this scooloftrade.com is shutdown and JJ is brought to justice


MACD said:


> Hi Lloyd,
> 
> Nice video.  I honestly can feel your pain.  I went through the same thing with Traders International.  Both TI and School of trade have things in common - both trade in sim, both are a waste of money and both are full of cr@p.  Keep up your fight and don't let them get away with it.  Best of luck.


----------



## LloydH (11 October 2010)

JJ TRYING TO BRAND CHANGE TO WWW.SIDEWAYSMARKETS.COM
BEWARE ALL : A common practice of rogue traders and fraud outfits is to shut down and start up the scam all over again with a new name, well here it comes from SOT (www.schooloftrade.com). Notice how JJ is now trying to transition away from the SOT name towards www.sidewaysmarkets.com. 

Well guess what JJ, I'm glad to see my efforts to expose you are working so well. If you think you can squirm off leaving your little SOT legacy behind you and start all over again with a different name you are sadly mistaken. The truth is catching up with you fast and you will not escape justice


----------



## LloydH (23 November 2010)

www.schooloftrade.com publicises FAKE Trading Results! : Listen to JJ live in the SOT trade room hiding a losing gold trade. 

http://www.youtube.com/watch?v=AGIspzvJyDI


----------



## LloydH (18 February 2011)

Nice report in comment # 23 here : http://united-business-servicing.pissedconsumer.com/www-schooloftrade-com-sot-joseph-james-20101025204102.html


----------



## LloydH (11 November 2011)

http://jameswavereview.blogspot.com/2010/02/legal-action-pending-schooloftradecom.html?showComment=1320945030781#c9095602258378387542


----------

