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.

Doggoneripoff, don't know if you are in the room today, but this is getting insulting.

Blade says today (sure is easy to make calls in retrospect) there was a great system trade yesterday afternoon, and it is our fault if we didn't take it (of course his moderator, johng didn't call it). But what he fails to mention is that after all the bad calls he made in the morning, we had all lost the maximum and he said we should stop trading for the day.

Now this morning, he calls 2 bad trades, then a winner, and he can't stop patting himself on the back. But wait, how did he get in the winner? Candlestick patterns!!!! Since when the hell did the system start using candlesticks? That wasn't in any of the classes I took.

This system which he claims "uses only one time frame to trade" is getting more and more complicated. Now we have to watch multiple time frame candle charts, PLUS Market Profile. Even the guy who invented Market Profile says it doesn't work anymore.

Well, folks Blade is obviously a desperate man searching for a quick fix to a system that was never put to the test of time and it now, like most of systems, is reverting to the mean.

This just in: My intelligence sources say that TradeMaven is seriously considering dumping Tsuanmi, but fears backlash from their clients who bought it. Stay tuned. A telltale sign will be the removal of the Tsunami ad on their Website.

If I were Trademaven, I would be a lot more worried about the statements they made, that are on the record, that convinced people to send this guy $6k.

If they want to deal with the backlash, admit they screwed up, and make it right with their clients.

redsioux,

Were you induced by TradeMaven to buy it?

Hmmm, no, I was not "induced".

I was told by them that Blade was a profitable trader before he started teaching. They said that if I needed more than a 1 point stop in my trading, I didn't need to give my trades more wiggle room, I needed a new trading system. They said all Tsunami trades used a hard 1 pt stop.

I know that at least the last of the statements is false. I suspect that all three are false

I can't prove they are false, but Trademaven could prove they are true, if indeed they are. Surely they did more than watch him trade for a week. How could they say he was a profitable trader if they didn't ask for some statements?

I don't blame Trademaven for my stupdity, I made a bad decision of my own volition. But they are the ones who hitched their wagon to this guy, and therefore have to accept the consequences.

quote:

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Originally posted by ahk

redsioux

An interesting question to wonder amongst all the fallout here is this: it seems almost magician like that during the 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.

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Sounds like a good read on what actually happened. It is called fraud and it needs to be stopped.

If your serious about doing something about this, you need to file a complaint with the CFTC, as they have regulatory oversight in this situation... [url]http://www.cftc.gov/enf/enfform.htm[/url]

quote:

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Originally posted by redsioux

Doggoneripoff, don't know if you are in the room today, but this is getting insulting.

Blade says today (sure is easy to make calls in retrospect) there was a great system trade yesterday afternoon, and it is our fault if we didn't take it (of course his moderator, johng didn't call it). But what he fails to mention is that after all the bad calls he made in the morning, we had all lost the maximum and he said we should stop trading for the day.

Now this morning, he calls 2 bad trades, then a winner, and he can't stop patting himself on the back. But wait, how did he get in the winner? Candlestick patterns!!!! Since when the hell did the system start using candlesticks? That wasn't in any of the classes I took.

This system which he claims "uses only one time frame to trade" is getting more and more complicated. Now we have to watch multiple time frame candle charts, PLUS Market Profile. Even the guy who invented Market Profile says it doesn't work anymore.

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I haven't been in the room for probably 2 months. I just can't be around him anymore. Starting the first of the year I'll be trying another system and I'll keep you updated on the results.

Today Blade made 5 calls, all of them losers. According to my sources, of the lasts 14 calls he has made, only one has made money. The rest have been losers.

sounds like a great system. Anyone want to loan me 6 K so that I can take the course. LOL

The system is making up for those nonrandom hot streaks that sucked in new members and reverting to the mean, where I expect it will stay from here to eternity.

Maybe Blade should try tossing a coin.

redsioux,

I understand you paid good money for this so-called educational training, but how do you manage to sit in that room everday listening to Blade's bald face lies without pulling your hair out and topping off your blood pressure?

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