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I do appreciate everyone's advise, I was pretty convinced this was legit but I guess anyone will say anything online these days.
What got me is that they have a ton of youTube videos they put out on their site that's updated every week.
Danny (The Tech) puts on a great show and is very convincing salesman. I told him that I would be happy if it earned me $100 a day and he was very offended, telling me it's a money machine. I should have known better, but I did fall for the smoke and mirrors.
So far I have blown up around $7000 in about 3 months of trading from my broker account....\
I called my self Sim Trading first.... I am glad I did it could have been a lot more...
I am glad I found this site, at least that money did not go to waste on the elite account....
Thanks for your comments.
The following 5 users say Thank You to ntcat for this post:
No one is happy that you have lost the money, and, believe me, we have all lost money on similar things, not to mention just losing it from our own bad trading (I should say I'm only speaking for myself, just to not offend anyone, but really, everyone goes through many ways to lose while trading, including looking for vendor solutions, and our own mistakes too.)
Your mention about $100 a day is very reasonable if you can stabilize your results on it:
(1) It is a positive number. Most traders initially struggle to make the consistent daily number not be negative. Positive is always good. Then you can get better.
(2) Any salesperson can tell you anything, as you have discovered, and anyone with any computer proficiency can put together some great YouTube videos. We see this stuff all the time. If the salesperson has such a great trading program, why is he making his money on sales commissions instead of trades? But you understand this now.
Trading is not easy, but it can be done. Gradual progress can work. Vendor dreams are just dreams. They seldom add any money to your account.
Sorry that you had to find out this way, but it is good that you know.
Good luck with your trading and your progress. You will find people here who will care enough to try to help.
Bob.
When one door closes, another opens.
-- Cervantes, Don Quixote
The following user says Thank You to bobwest for this post:
We have all fallen for something like this in the past. The key is being able to dust yourself off and carry on. The monetary loss is something that will likely continue, whether it is a death by a thousand cuts or several whacks to the side of the head. Trading is not an easy path to take as a career. Believe me, $7,000 is a drop in the ocean. It may not seem like it right now but in the grand scheme of things it really is.
I do believe your initial expectations are realistic, but more importantly I would concentrate on what your are prepared to lose each day during your learning process. My stance on SIM trading has softened during the years, but with SIM you can never replicate the emotional and psychological loss of real money. So just keep that in mind.
FIO is a phenomenal resource to have at your fingertips. This is not like any other trading forum out there. When new traders pose questions on here, you may find some responses from trading veterans to be harsh, but look at this as a firm but fair approach. In most cases we have worn the t-shirt.
I don't want to ram anything down your throat here. Trading is your own path. But, if I was starting out again as a trader, @wldman has an excellent journal with some true trading nuggets. I have been doing this 10+ years and when I discovered his journal 6+ months ago now (don't ask me how I didn't discover this before), I gotta tell you...it was really informative. Certainly one of the best on here.
Again though, the path you take is yours and yours alone but do some FIO searches, find out what fits your trading personality and evolve that way. It will be a truly difficult journey so never lose sight of that.
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- Trade what you see. Invest in what you believe -
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The following 3 users say Thank You to JonnyBoy for this post:
It looks like the vendor has removed the dubious linkage back to @NinjaTrader.
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- Trade what you see. Invest in what you believe -
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Very Interesting.. maybe they are watching the post. It would be nice if they were legit, but at the moment I do feel like I was taken advantage of. I am still trying to give the benefit of the doubt but I think I already know my answer.
The following user says Thank You to ntcat for this post:
A charge back for a purchases that doesn't live up to standards of expectation is the avenue here. First, you need to request a refund from the merchant (a highly unlikely endeavour) because your credit card company will ask if you have requested this. And then request a charge back.
Finally submit a report with respect to the vendor to this website.
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- Trade what you see. Invest in what you believe -
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Site Administrator Swing Trader Data Scientist & DevOps
Experience: Advanced
Platform: Custom solution
Broker: Collect them all
Trading: Equities, Futures & Crypto
Posts: 49,894 since Jun 2009
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Just a note that particular website charges money to remove items (from a vendor perspective). So it cannot be trusted too far, because for enough money they will delete anything.
You're better off posting here on FIO, where you can trust it will not be removed or deleted for any amount of money or threat of legal action, so long as it complies with our rules.
So just like the BBB it's pay to play? I had no idea!
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- Trade what you see. Invest in what you believe -
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TruTrade LLC has received the link to this post. TruTrade LLC is of the highest standard when it comes to transparency and information which is provided to each and every client. We have extremely high-end bots and have thousands of clients to date that trade from 1 to 80 lot sizes. TruTrade maintains professional standards and we do not roam forums to knockdown other companies nor troll for clients. We do not participate nor facilitate Slander and/or Defamation of Character.
The information being shared within this post has no merit and is an unfair representaion of TruTrade LLC. TruTrade provides detailed product information as well as recommendations to clients. It is the Clients responsibility as to what to do with the tools we provide. Traders, trade at their own risk and are accountable for their own actions. It is standard Protocol for TruTrade to discuss a client's appropriate account size and we repeatedly suggest to sim trade until Understanding and comfort level is reached.
Regarding this specific case, In order to Help this specific client, TruTrade Not only accepted a partial payment at the client's request which we normally do not accept but we offered a 5k upgrade for free, we offered another hour training for free to make sure our client is on the right track. This was a 7,000 upgrade in total as we don't count pennies here, we expect our client to make money period. Even though we have a very strong contract we looked the other way and tried to do the right thing for our clients. This Client has not followed instructions nor Honored his contract to date. We stand by our products and our products are engineered for the professional trader not for the hobbyist mindset.
At TruTrade we strive to invest in long term relationships with our clients and are not focus just on individual sales, rather the success of our clients hence the upgrade suggestion as to when our clients make money so do we.
TruTrade LLC is about relationships and building client accounts not collecting money and moving on once we receive initial payment. This is why we offered a major upgrade and assistance at no cost! We care about our clients, our word counts, and our products are second to none, to be honest. We have hours and hours, sometimes complete sessions recording on Youtube to display the transparency. We are the only company to do so, we take pride in this fact!
This particular client turns the bot on sets man many timers to go on /off/ on and utilizes the bot in a way not designed as instructed. TruTrade can only do so much here. This gentleman is stating he lost thousands, ok how is that possible as the bar and contract size recommended to this gentleman would be impossible to lose unless allowing themselves to grossly be negligent and leaving it on all times of the day.
The bots have very little downside before it reenters, Review the hundreds of hours that we post. We do not hide and portray something we are not selling whatsoever.
Personal Note: If the trader isn't properly funded as I believe we all need to be responsible for what we sell, who we sell to, and what we buy.
Bots are engineered for a specific purpose in mind. Utilizing a bot designed for certain market environments and doing the direct opposite will result in a negative outcome. This is discussed in-depth with each and every client as well as provided to all clients. This particular client is simply setting predetermined times to trade while he's busy working his job. TruTrade highly discourages this trading behavior when utilizing one bot unless trading with a bot network of course. This is discussed with all of our clients along with setting the proper expectations etc well before the cost is even brought up as the cost is secondary to one's needs as it should be.
TruTrade never discloses when asked, "what does your bot make on avg"? We could of course answer this question to increase sales however we have a moral compass here at TruTrade and do not share in that mindset. We are overly honest to a fault. TruTrade does not conduct themselves in the typical industry fashion which is precisely why TruTrade came about. We are in 4 countries now for a reason and it's not by selling a product that isn't effective. Again we post hours nad hours of trades to remove doubt and had transparency to the industry by showing that we do not cherry-pick entries and exits. We display wins, losses as well as show off our bot's ability while the market is consolidating.
This would be our first response to this nature. I truly hope this will be my last. I wanted to spend some time writing this response as we are a very reputable company and our products are worth fighting for. Obviously we can t make everyone happy but we can always do the right thing above all else. TruTrade is here to deliver the new normal and we are here to stay...
In response to having previous NT banner. Trutrade decided there was no value in having NT as they provided really nothing to vendors so we respectfully removed ourselves at TruTrades request then removed NT info. Jumping to conclusions over an individual comments again isn't proper. TY
