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.

quote:

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Originally posted by TippyTom

HAHAHAHAHAHAHAHAHAHAHAHAHA

what a phoney

Aaron is that you?

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No. Guess again.

Looks like TradeMaven has dropped Tsunami.
http://www.trademaven.com/trademaven/education.html

quote:

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Originally posted by mahavishnu

Looks like TradeMaven has dropped Tsunami.
http://www.trademaven.com/trademaven/education.html

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It's about damn time

quote:

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Originally posted by mahavishnu

Looks like TradeMaven has dropped Tsunami.
http://www.trademaven.com/trademaven/education.html

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I'm assuming that there was once a link to Tsunami and now it's gone?

Yep.

Tsunami is gone but I see Roger Felton there, he of
Traders International fame. With just about the same
old setups as Traders International of course... LOL...

Next thing you know, Franz Shoar will have a link at
TradeMaven too. And maybe even Dave... And TI of course.
And a few hundred other alumni of TIMES... ha ha...

Whoever spent money on this BS should get it back from trade maven. Rumor has it that they were recieving half of the money for selling tsunami.... Just report it to the cftc here:

http://www.cftc.gov/enf/enfform.htm

Trade maven has an obligation to protect investors since it is a registered broker. Not miss-lead them by advertising tsunami, making a quick buck and getting the commission money on top of it.

They should pay back all the money anyone spent on this and some.

I am tired of all the snak-oil being pushed by crooks.

TradeMaven did not receive any of the Tsunami fees. TradeMaven has been contacted by the regulators that an inquiry is commencing.

quote:

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Originally posted by mahavishnu

TradeMaven did not receive any of the Tsunami fees. TradeMaven has been contacted by the regulators that an inquiry is commencing.

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Did TradeMaven give that as the reason they pulled their ad from their site?

quote:

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Originally posted by mahavishnu

TradeMaven did not receive any of the Tsunami fees. TradeMaven has been contacted by the regulators that an inquiry is commencing.

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How do you know Trademaven did not receive any fee's? Is their commission sharing revenue with the educators for brokerage fees'?

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