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.

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Originally posted by ahk

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?

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ahk - learning what not to do is an important part of the education process.

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How appropriate. The siren is sounding but Blade's 'somewhere over the rainbow' is sucking them into the killer tsunami wave. A hundred years ago we'd take a guy like this and have a good ole fashioned lynching in the public square. Now days we call it getting educated. Better yet I'd say I took it up the @$$! I will have to admit I beat the crap out of any salesmen that approach me now. Usually they leave with their head spinning because the are trying to sell me crap.

Too many more failed trades Blade...

Here's the link from Hawaii corporate register.

http://hbe.ehawaii.gov/cogs/details.html;jsessionid=0377F55B02958E7488EA6235737ED869?t=MSTR&fn=215134+D1

<edit: fixed link>

Interesting offer from the registering company:

quote:

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If you want to purchase a Certificate of Good Standing, search for the company using the search page. Once you locate the company, view the company details. If the company/entity is in good standing, you will be able to purchase the COGS on that page.

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I wonder how they determine what "good standing" is? Perhaps that is an accounting term...

Good Standing means they are current in paying yearly State fees. That may be the only good thing about Tsunami.

Well if they prepay for 1 year (which I assume is unavoidable) then they will be in good standing for the first year at least.

I am a sucker and fell for the propaganda based on the Trade Maven introduction. My own stupid fault. I just wrote Josh at Trade Maven expressing my dissatisfaction and encouraged him to get Blade to refund the money, Yeah right.

Does "in retrospect" ring a bell? All I hear is should have taken that trade in retrospect. In retrospect, I should have burned my money.

gfg1 - thank you for taking time to share your experience, sorry it is an unfortunate and painful one for you. Perhaps in sharing here you will save someone else from having the same experience with Tsunami and Trade Maven.

Trade Maven through this new association with Blade/Tsunami is going to destroy years of hard work establishing its good reputation in the industry as a trusted broker and solution provider... this situation is a real shame for everyone involved...

gfg1,yes, I have heard the term "in retrospect" about 10 times more often than "ching" in the Tsunami room. I also get so tired of "...there was a system trade there a few minutes ago, I don't know why I didn't call it, but it would have been a winner. See, I told you the system was great!"

But, all of us Tsunami traders have nothing to worry about. As you know, Blade now has a new twist to the system. One of his students of only 4 weeks has shown him how to trade it. So, like he does every few days, he has changed the strategy again. Now he is using multiple time frames with different settings. This is after last week he switched over to the "Sue Method", with the same lousy results.

I get sick when he tells the free trialers that he doesn't use support and resistance, only price action. Look at your charts Blade, YOU ARE USING SUPPORT AND RESISTANCE LINES. Listen to yourself. What do you think "yesterday's high and low, or previous day's close is, or all those other lines you put on your chart"?

Please take pity on these people in the trial room. You tell new students they have to be able to sim trade 20 profitable days in a row before trading real money. Well how about if you would trade the system exactly the way you teach it for 20 days, WITH NO CHANGES, then tell us if you were profitable. When YOU can trade your system successfully, then you earn the right to charge somebody $6.5k for it.

As for Trademaven, I guess they don't care about the little guys either since Doug at Trademaven is still silent.

redisioux - your comments and observations reminds me of something I read some years back...it went something like this... "you can give someone tomorrow's Wall Street Journal and they will still find a way to lose money"

Blade's problem is not his system, or Sue's system , or even the new 4 week member's variant of the system. I am sure if applied properly using a mathematically sound and disciplined trading method, any of these variants will work equally well over time.

The more basic issue/problem here is:
There is a world of difference between developing a trading system, marketing it, and actually trading it profitably in real-time. Blade has demonstrated the first two skills, but is obviously struggling (and failing) with the third.

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