Tsunami Trading Educators
http://www.tsunami-trade.com/
Here comes another system--which costs a whopping $6500--that claims to use no indicators whatsoever, only proprietary charts, to day trade the ES. I swear these sites are multiplying faster than roaches in an old soup can. What is so special about trading on price action? It's been done ever since markets existed but lately has become so new and vogue.
I've taken the free trial a couple of times and I'm not impressed. It obviously is targeting the novice trader who has spent a lot of time and money on other trading tools and still is losing money. Who else but the desperate and/or naive would wire $6500 to someone's bank account who, like most others in this con game business, won't even disclose their name, let alone a phone number. In addition to sending your money in a non-recourse fashion, new members are required to sign an unbelievably one sided disclaimer http://www.tsunami-trade.com/disclaimer.html that doesn't even tell you where this company is located. In addition, a search under "who is" reveals an anonymous front hosting company (Tucows).
In fact, the guy who runs this shop (Blade) is so paranoid and secretive that he doesn't even let other members communicate amongst themselves away from the room. He totally forbids any sharing of emails, IM, or Skype and is lightening quick to erase any such posts. On several occasions I witnessed him bleeping out this type of info AND admonishing the person who posted.
What I found particularly interesting was the use of shills in the room to praise and tout the system to the folks who were in for free trial. This is a variation of the three card monte scam in which the people winning money right and left (in this case alleged "members" who expound the virtues of this system ad nauseum) lure the unsuspecting visitors to get on board. Blade himself is the biggest showman when he makes the right call on a trade, making it seem that the magic secret of interpreting price action through this so-called proprietary system is the answer to your dreams. And indeed, the website has all the bait with pictures of folks living their fantasy lives on some tropical island with a Ferrari in the driveway.
In the two weeks I spent in the room, I calculated a win rate of approximately 59% as defined by a trade making one point before hitting a 1.25 stop. No great shakes. Blade claims the system is "robust" in that it gives many signals during the trading session. (I witnessed 10 calls in one day.) When a trade gets stopped before profit Blade has a litany of excuses that are too long to mention in this thread; suffice it to say as any true conman, he knows how to put a spin on the negatives as if it really wasn't all that bad. For example, the market is "acting violently" and the price action, therefore, can't be properly discerned. Blame it on anything but the system. After a couple of quick stopouts in a row, he takes a break as moderator and the room sits in silence.
Although I'm not privy to his secret system, my observations tell me he uses a short term candlestick chart (10 or 15 minute) calling out buys at obvious support and sells at resistance. Anyone with a rudimentary understanding of technical analysis and chart reading could easily make the same calls. I also believe he uses a modified pivot point for his early morning calls which I did find funny. (f X price is broken, expect to go to Y and if that is broken, the Z and vice versa for the upside).
The free trial is worth the price of admission for entertainment, but not much else.
Here comes another system--which costs a whopping $6500--that claims to use no indicators whatsoever, only proprietary charts, to day trade the ES. I swear these sites are multiplying faster than roaches in an old soup can. What is so special about trading on price action? It's been done ever since markets existed but lately has become so new and vogue.
I've taken the free trial a couple of times and I'm not impressed. It obviously is targeting the novice trader who has spent a lot of time and money on other trading tools and still is losing money. Who else but the desperate and/or naive would wire $6500 to someone's bank account who, like most others in this con game business, won't even disclose their name, let alone a phone number. In addition to sending your money in a non-recourse fashion, new members are required to sign an unbelievably one sided disclaimer http://www.tsunami-trade.com/disclaimer.html that doesn't even tell you where this company is located. In addition, a search under "who is" reveals an anonymous front hosting company (Tucows).
In fact, the guy who runs this shop (Blade) is so paranoid and secretive that he doesn't even let other members communicate amongst themselves away from the room. He totally forbids any sharing of emails, IM, or Skype and is lightening quick to erase any such posts. On several occasions I witnessed him bleeping out this type of info AND admonishing the person who posted.
What I found particularly interesting was the use of shills in the room to praise and tout the system to the folks who were in for free trial. This is a variation of the three card monte scam in which the people winning money right and left (in this case alleged "members" who expound the virtues of this system ad nauseum) lure the unsuspecting visitors to get on board. Blade himself is the biggest showman when he makes the right call on a trade, making it seem that the magic secret of interpreting price action through this so-called proprietary system is the answer to your dreams. And indeed, the website has all the bait with pictures of folks living their fantasy lives on some tropical island with a Ferrari in the driveway.
In the two weeks I spent in the room, I calculated a win rate of approximately 59% as defined by a trade making one point before hitting a 1.25 stop. No great shakes. Blade claims the system is "robust" in that it gives many signals during the trading session. (I witnessed 10 calls in one day.) When a trade gets stopped before profit Blade has a litany of excuses that are too long to mention in this thread; suffice it to say as any true conman, he knows how to put a spin on the negatives as if it really wasn't all that bad. For example, the market is "acting violently" and the price action, therefore, can't be properly discerned. Blame it on anything but the system. After a couple of quick stopouts in a row, he takes a break as moderator and the room sits in silence.
Although I'm not privy to his secret system, my observations tell me he uses a short term candlestick chart (10 or 15 minute) calling out buys at obvious support and sells at resistance. Anyone with a rudimentary understanding of technical analysis and chart reading could easily make the same calls. I also believe he uses a modified pivot point for his early morning calls which I did find funny. (f X price is broken, expect to go to Y and if that is broken, the Z and vice versa for the upside).
The free trial is worth the price of admission for entertainment, but not much else.
quote:
Originally posted by elite trader
quote:
Originally posted by redsioux
5. Can Trademaven offer any evidence that he has traded his system profitably for 20 consecutive days, as he requires you to do before trading live? You cannot trust TM, so don't take their word, ask for the proof they supposedly based their intensive research on. They could not provide it to me.
How did you approach Trade Maven? What was their exact response?
I emailed Josh and he ignored me.
I will try and email him as well. What is his email address? [email protected] ?
I just read this on the Eductional Services page:
Did you ask Trade Maven how they had screened Tsunami?
quote:
As part of our commitment to our clients success we have partnered with the best educational resources in the business to help develop your trading plan. Each of our partnered educators have been rigorously screened to ensure they are providing honest, clear, and concise market analysis for our valued customers.
Did you ask Trade Maven how they had screened Tsunami?
quote:
Originally posted by elite trader
I will try and email him as well. What is his email address? [email protected] ?
Josh is a broker with no authority. You're wasting your time with him. In fact, it's highly unlikely anyone at TradeMaven will give you an answer. But if you insist on persuing this, your best bet is the compliance officer whoever that is.
quote:
Originally posted by ahk
quote:
Originally posted by elite trader
I will try and email him as well. What is his email address? [email protected] ?
Josh is a broker with no authority. You're wasting your time with him. In fact, it's highly unlikely anyone at TradeMaven will give you an answer. But if you insist on persuing this, your best bet is the compliance officer whoever that is.
For all you Tsunami victims, I recommend you hire an attorney and have him/her write a letter to Douglas Zalesky, Managing Director, to explain how Tsunami and Blade were "rigorously screened to ensure they are providing honest, clear, and concise market analysis for our valued customers."
It may cost you a few bucks for the letter, but it's money well spent and probably the only way to get TradeMaven to take notice. Make sure the letter is copied to the proper individual at the CFTC. It's unfortunate you have to do this, but that's the way things get done in this country.
Good luck to all of you and please keep the forum posted on your progress.
quote:
Originally posted by ahk
quote:
Originally posted by elite trader
I will try and email him as well. What is his email address? [email protected] ?
Josh is a broker with no authority. You're wasting your time with him. In fact, it's highly unlikely anyone at TradeMaven will give you an answer. But if you insist on persuing this, your best bet is the compliance officer whoever that is.
Maybe he has no authority, but he seems to be the one who is out front in promoting Tsunami in the name of Trademaven.
His address is [email protected].
Do you think that Josh is Blade and that is why he dissappears after trading has started because he has to go to work?
quote:
Originally posted by elite trader
Do you think that Josh is Blade and that is why he dissappears after trading has started because he has to go to work?
No, they have both been in the room at same time. If Blade was same person as Josh, then Trademaven could not have endorsed the service as non-affiliated with them.
Blade does not dissapear till around noon-1:00 EST, so we believe he is in a far western time zone, maybe California or Hawaii. Josh answers the phone in Chicago.
quote:
Originally posted by redsioux
quote:
Originally posted by ahk
quote:
Originally posted by elite trader
I will try and email him as well. What is his email address? [email protected] ?
Josh is a broker with no authority. You're wasting your time with him. In fact, it's highly unlikely anyone at TradeMaven will give you an answer. But if you insist on persuing this, your best bet is the compliance officer whoever that is.
Maybe he has no authority, but he seems to be the one who is out front in promoting Tsunami in the name of Trademaven.
His address is [email protected].
redsioux,
Josh is promoting Tsunami because he gets commission from trades. One thing has nothing to do with the other.
I think this method is junk. I paid for it, and it sounds good in theory - which is a combination of well known approaches to the market as well as a couple of semi-innovative techniques. But it was not tradeable for me in real time. And I don't think it is for Blade either as demonstrated by the results in the trading room.
Learn from my costly mistake and save your money.
Learn from my costly mistake and save your money.
Is blade's name John by the way? From what i ve seen, his latest scam is TsuBot, which he claims has an extremely high win rate in all markets. Watching it trade live, it's obvious that reality is much different. Interesting that he only takes into account the first profit target which is no more than eg 3 ES ticks or 5 GBP/USD pips (which is really 2 after spread which he totally ignores, but that should be expected as he has never placed a real trade himself). The corresponding stop loss is several times larger, a sure recipe for disaster. Avoid them at ALL costs no matter how tempted you feel to waste 6-7k
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