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.

ahh sorry try this....

http://elocaltrading.com/

I sure wish that some other Tsunami members would find this sight. I think it is time to call Blade to task on all this stuff, but I don't think I would be successful as just one member.

I blame myself for being dumb enough to send somebody $6k who would not even reveal his real name or location. I take responsibility for my own actions. But I hate to see any other people get taken advantage of.

Over 80 people have payed the $6k. Most of the time there is barely over 40 in the room. Sounds to me like most of the members have found out the same way I did, Tsunami just doesn't work.

Blade had a horrible week last week. If any members just traded his calls, they lost their shirt.

Then, he announces that we should "forget about trying to make the 4 pts/day he always talks about, we should now think about making 16 pts/day" after he reveals what his student, SueL, has to say about trading.

BUT, before he sends us this info that SueL has developed entirely on her own, at her own time and expense, we have to sign ANOTHER stinking NDA. We signed one when we sent him $6k, plus, we had to send him a personal signed oath in addition that we would never reveal his holy grail. Now, before he shares what a student has sent him, he wants another signed oath. Come on Blade, what is your problem?

BTW, yesteday he made lousy calls while SueL was making big money. Today he is making lousy calls, and SueL is making big money. I guess he can't trade even after SueL gave him "the keys to the kingdom" (which we supposedly were getting for the $6k we sent him).

Blade, it is time to admit you simply can't trade, and give us our money back. If I am wrong, let us see your statements and you will never hear another word from me.

As for Trademaven, shame on you for endorsing this guy without checking him out. You are legally bound to do your due diligence. Maybe it is time for us to go the SEC.

What a rip off. I bought this crap and learned a life long lesson. Never buy anything that doesn't have a money back guarantee. This is total crap. I hope somehow we can get out money back but I doubt it. The secretive con game goes on. Don't fall for it..you'll regret it. This kind of crap needs to be regulated.

Blade if you're such a man of intergrity you know what to do.

Spread the word about this scam. Please!!!!!!!!

Let's hope that any other prospective members will google Tsunami and find this forum.

Anywhere futures are discussed we need to post about this. How about elitetrader.com?

Now the chickens are coming home to roost; unfortunately, they are out $6,000.

I knew this was a stinker from the getgo. Instead of a professional site portraying the realities of futures trading, this Blade shows a house in Hawaii with a Ferrari in the driveway as if this is achievable from trading a couple of ES contracts with his system.

And now one of first students, Sue L (who also has a testimonial on the site) has apparently tweaked this thing to make it better and you have to sign another NDA. I wouldn't let these NDAs stop you from sharing this system with anyone you please or even selling it on eBay (Blade's deepest fear). You bought the merchandise and in America you can do whatever you want with it. This is not an employment agreement and it would be virtually impossible to enforce. NDAs of this nature aren't worth the paper their printed on. Moreover, Blade isn't going to sue anyone--his goal is to soak as many people he can as fast as he can and then dissapear from this gig. Probably would resurface in a year or two with a new handle: the same old wine in a brand new bottle. But a lawsuit and bad exposure could rattle him enough to settle and return some of his ill-gotten gains. Can you sue for willfill fraud?

If anyone, however, wants to serve Tsunami with a lawsuit, go to the Hawaii registered corporations site and look up the address.

As far as TradeMaven goes their interest was purely financial. Remember, they are not in the education business. I understand they did a week of due diligence which amounted to watching Blade trade in their office in simm mode. The scalping nature of the system must have had them foaming at the mouth at the prospect of churning customer accounts for commissions.

I will not be selling or sharing the system. I gave my word, and I will honor it.

Lawsuit? Very difficult to prevail. Standard wording like "for entertainment only", and "no guarantees". Also, we signed that we understood there would be absolutely no refunds for any reason.

After approximately 4 hours of class, we had to sign a statement that we had received anything promised. If we did not, he would not send us the software to use the system. He already had our money, what choice did we have?

As I post this stuff in the forum, it is clear how stupid I was. Once again I bought into the concept that someone who had a successful system would actually sell it. Why would they? Blade himself says hey, just start with $5k and in less than a year be a millionaire. So why wouldn't he just do that, instead of going to the trouble of marketing, giving up his weekends, refraining from trading it himself, etc?

The "anything" in the last post should have been "everything"

redsioux

I'm not encouraging you or anyone else to act dishonorably.

Despite all the disclaimers you signed, do you feel you were misled? Is the product peforming as it was represented. Did Blade make oral promises or representations that weren't delivered? If the answers to any of these are yes, you may have a valid claim for relief.

After thinking about, I realized that selling or even giving away the system doesn't do anything for you. For one, since it is worthless you probably wouldn't want to rip anyone off as you have been by Blade, and giving away a trading system that doesn't work makes no sense either.

An interesting question to wonder amongst all the fallout here is this: it seems almost magicianlike that during thes one week free trials, the systems more often than not have a good streak of winners which seduces people into buying them. Only after money changes hands does the buyer realize it was indeed an illusion performed by a skillful magician.

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