Kingfish Traders

KINGFISH TRADERS: http://www.kingfishtraders.com/

Have you heard of them?

Have you tried them?

What is your opinion?

Seems like this thread is a bit worn so to speak but I'll add my two cents anyway.

I left the free one week trial after three days. The moderator was at times vulgar at best and down right racist at worst. He booted people from the room who simply questioned anything about his calls. Most of his banter was totally unnecessary and really off topic detracting from the purpose of why I was there.

Don't waste your time unless you like to listen to someone bash people of every race, creed and color (except white).

Grade: F

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Originally posted by day trading

Okay I'll try it out and see what happens.

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Following 4bigmoney's request I signed up and logged into the room this week. Unfortunately I only made it in there on Monday and Tuesday and could not make the other days.

There were the notes that I made at the end of those 2 days:

Monday 13 November 2006:
First day in Kingfish's trial.
It was a quiet day in the markets. Kingfish had a short set-up that he was recommending but the market never traded to it so there was no trade entered.
The free trialers in the room were generally quiet even so much so that Kingfish commented on how quiet "they" were.
Kingfish appears to be trading from Mexico right now because the connection from Belize appeared to be restricted and unreliable. There was some mention of him being in Toronto but I think that was something else. I'm pretty sure that he is in Mexico.
He alluded to his bad behavior in the past and his drinking days and implied that he was no longer that sort of person.

Tuesday 14 November 2006
On sign on I get:
(11:06 AM) RackTrader: <<(11/14/06 6:54 AM EST)>> If you are interested in a free trial of a successful day trading system for the eminis based on price fundamentals, take a look at << *** name removed *** >>. Training starts at $1250 and they have IM/SMS alert services for a low weekly fee. Trial Wednesday & Thursday.

Apart from a spam PM from RackTrader I did hear what sounded like a Bingo being spoken about. From what I could work out a bingo (or whatever it was) is a smaller profit trade than their usual target of 10 points so probably 5 points or something like that.

At some point I did here Steve Boyd (Kingfish) talking about how good the system was and that it was the best thing in the world and nobody can touch his system because it is so good.

The way that he describes it cannot possibly be true however if you are selling and marketing a system and you make money from selling the system and not trading as he does then that is exactly what you would have to say and would say in order to sell the system.

What it boils down to is that Steve Boyd would never be marketing his system or selling it or teaching it or leasing it if it really was as profitable as he claims that it is. I cannot believe that anybody would go through the aggravation that he goes through with this business if the system could generate him so much in profits just by trading.

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Originally posted by ahk

Seems like this thread is a bit worn so to speak but I'll add my two cents anyway.

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Not at all. Your opinion and experience is valuable to all who may be considering his system.

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I left the free one week trial after three days. The moderator was at times vulgar at best and down right racist at worst.

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As per my post above, I wonder if he really has changed his ways as he claimed this last week?

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...Most of his banter was totally unnecessary and really off topic detracting from the purpose of why I was there.

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This was something that I did forget to mention. There was a lot of non-trading talk in the room which made the room difficult to listen to.

Thanks for your comments ahk!

day trading wrote:

"What it boils down to is that Steve Boyd would never be marketing his system or selling it or teaching it or leasing it if it really was as profitable as he claims that it is. I cannot believe that anybody would go through the aggravation that he goes through with this business if the system could generate him so much in profits just by trading."

Did he ever make any claims as to profits? It sure seems that the aggravation he goes through was from his actions. Very few of the others in this business have garnered such bad press.

But the profit margins are compelling. For example, if he has 200 members at $7500 a pop, that's a cool $1.5 million with new ones coming on board all the time. Maybe the hassle is worth it without having any of your own money on the line.

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Originally posted by ahk

Did he ever make any claims as to profits?

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I don't recall him claiming any precise profit amounts but the way that he was talking gave the illusion that you were going to be making something like 10 points a day which one would expect you to translate into profits. Does he not claim that sort of performance?

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But the profit margins are compelling. For example, if he has 200 members at $7500 a pop, that's a cool $1.5 million with new ones coming on board all the time. Maybe the hassle is worth it without having any of your own money on the line.

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This is very true. In fact just 1 new customer a month (12 a year) gets you a half decent salary at $90,000.

Here is my update with the Kingfish Trade System:

http://www.ripoffreport.com/reports/ripoff144907.htm

4bigmoney: I am guessing that you are Cuong from Austin, Texas? You wrote: "KingFish (Steven Boyd) called and we talked about my concerns. He invited me back to the room and promised to be a better teacher and want to take this negative and turn into a positive for both of us. I accepted his invitation and are very fortunate that one of KF's top trader also taking me under his wings to help me over come the fears."

That sounds like a very positive step that Mr Kingfish is taking. Please let us know what happens. Like many people on this forum my big question is "Why sell such a successful system to people when you could be doing so well trading for your own account or running a hedge fund?"

If you would be so very kind as to ask Mr Kingfish that question and get back to us it would be much appreciated...

Yes, I'm Cuong from Austin, TX. I can't speak for others but I know that I will share a system if I am successful because I will leave a legacy. Just like this great trader in the KF's room is helping me right now. He does not have to help but are putting me under his wings without any string attach. You are welcome to come to the free trials and ask him that question for yourself.

Thanks Cuong, I will think about the free trial.

What sort of legacy would you want to leave? And why would you want to leave a legacy?

I have been trying to be a successful daytrader for the last 10 years and lost over $400,000 and I'm still trying. So I know that there are some people out there like me that are looking for helps. I want to leave a legacy once I leave this earth that I was able to help others. Like I said this top trader in KF's room does not have to help me he could said that I paid KF $7,500 therefore KF needs to help me but he is coaching me to over come my fears without any benefit to him and hopefully one day be a successful daytrader like him.

XBull,

I'm the Cuong from Austin, TX that you're talking about. What's room are you talking about in 2005? Sorry to said but 99.9% of people I met that want to teach don't even trade. Most of them are loud mouth salesman that don't put money where their mouths are. Are you one of those loud mouths salesman?