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.

pt, that assumes the system was developed in good faith and not as a vehicle to scam. There is ample evidence to question that assumption in this case.

redisioux-try getting a hold of Josh @ Trade Maven. He is aware of the issues, although there is little that they can do.

Does Trade Maven still endorse Tsunami?

yes they do, as best as I know.

TradeMaven is stuck between a rock and a hard spot. If they dump Tsunami now, they have to face some liability and if they stick with it, they lose accounts and credibility.

quote:

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Originally posted by ahk

TradeMaven is stuck between a rock and a hard spot. If they dump Tsunami now, they have to face some liability and if they stick with it, they lose accounts and credibility.

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TM has the liability for what they have done and failed to do, whether they dump Tsunami now or not. So why not do the right thing now before they incure MORE liability. The longer they delay the worse it will get. Just ask Martha Stewart.

Not sure if the Martha Stewart analogy makes sense. TradeMaven only has possible liability if they get sued. They may not do a thing until they have to. Are you prepared to take that step? Don't rely on the regulators to help you.

report them to the CFTC. give as much info as possible. i called this outfit, which lead me here in my search for more info. blade jr. or whoever answered didn't know squat about trading, so i talked his ear off. wouldn't reveal blade's real name--one trial, no repeats, in business 2 months--then the price! yikes. trademaven should be ashamed of themselves. blade will pop up again under another name (maybe he's selling crappy ebooks in the pm?) The website (big $$$) and the trading demo (low-key, west coast)??

anyone who's put money out don't sweat it. even after several years trading i'm looking for something better.

put something together on your own. trade the mini/micro forex...for a litle as 8-10 cents a pip and free charts. there's a learning curve and you are going to pay somehow, just try not to give too much away.

for example: try trading the news on short term charts.... ISM, Employment Friday, etc... watch for breakout, pullback and a resumption of the trend. use obvious S/R etc...to exit document what works, the details, get confident, good luck, so long.

The analogy comparing TM and Martha was that if Martha would have just admitted her mistake in the beggining instead of continuing to lie to the feds she would never have spent a day in jail. The longer TM persists in lying about Blade the worse it will be for them.

I would have nothing to gain sueing TM or Blade. My hope in posting is that members would see that they are not alone, and as a group we could put pressure on TM and Blade to stop scamming the public.

As for those considering paying Blade $6.5k to learn his method. He claims today he called 3 winners and 1 loser yesterday morning. Wrong Blade, your first two entries never filled, then you had 1 winner and 1 loser. He also claimed the system had a great afternoon even with the fed announcement. But, he was not there, and johng his moderator got killed according to johng.

Blade said this morning that even if he or johng don't make good calls, that his students have the system and can make money in spite of that. How can that be? Aren't you trading the system you sold to the students? You said again this morning for the thousandth time that the system is very objective. If it is so objective, surely the guy who invented it could call the entries, especially if you are not even trading.

So far this morning Blade has made 9 calls in the first 45 minutes. It appears that only 2 or 3 would have filled, and one was winner, and not sure about the others.

redsioux I am a member and I agree with you 100%. Blade is one of the worse traders I have ever seen and I feel ashamed that I got bamboosled in to paying 6500 bucks to this con man.

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