Coiled markets

http://www.coiledmarkets.com/index.html

Any input from past or current customers appreciated.

Stay away from coiled markets. He uses moving averages and the "method" has been reworked many times....mostly fibs..he will buy into fib retraces with a hull moving average as a filter...reverse for shorts...

He comes across as sincere and uses "God" on his web but don't be fooled. He kept promising on elite trader that he was going to quit vending and just manage money but he keeps running those seminars. I believe he has a "strange" relationship with some of ET's owners/ moderators as many of his posts disappear in order to protect him. I'E. you probably won't be able to find threads where he promised to quit vending and peddling his course or any where he was going to leave ET forever.

Don't be fooled by his trade blotter either if he's still posting it. You won't be able to reproduce his posted results and he can't provide verified statements....

It's just a glorified course in fib trading using a moving average as a filter...

Bruce

@Bruce: I think that you must be the greatest wealth of information about vendors that exists. Thanks for sharing the info with us. I'd never heard of Coiled Markets until this topic.

One of the ET members has confirmed what you posted, Bruce. The troublesome part of Austin's representations is the claim of using no indicators, just price. Last time I checked, MA and fibs were indicators.

He keeps changing the material so it's hard to keep up with him. I don't know him personally but the "image" he portrays from his website and the dealings I have had with him from Elite make me have no respect for the man. He's strange and coming from me that says a lot...lol!!

Bruce

Agree. austinp (his name on ET) is a complete scam. His methods started out with moving averages, moved on to fibs, then to opening range breakouts, then trendline breaks, now back to fibs.

Here is an interesting page on his methods being exposed:
[url]http://elitetrader.com/vb/showthread.php?s=&threadid=47887&perpage=6&highlight=kingfishtraders&pagenumber=5[/url]

It even contains some of his deleted posts from ET in the google cache.

If you want to see his scam evolve, check out the webarchive of his site:
[url]http://web.archive.org/web/*/http://coiledmarkets.com[/url]

If you have any other questions about his method, send me a page.

Well done...unfortunately theres seems to never be a shortage of people who don't do their research before investing money on education,,thanks JSNBECKETT

Bruce, you are right about coiled markets. He doesn't talk in the room to explain any trades and the trades he takes don't meet the rules he teaches.

quote:

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Originally posted by oexgary

Bruce, you are right about coiled markets. He doesn't talk in the room to explain any trades and the trades he takes don't meet the rules he teaches.

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Just like the two clowns from Viper. They did explain the trades AFTER THE FACT, but never called them in the room live.

With a few rare exceptions, these trading vendors are all terrible.

Phantasmagoria, your momma must not have breast fed you, you are a cold vindictive loser.

Originally posted by Butthead

Phantasmagoria, your momma must not have breast fed you, you are a cold vindictive loser.

Did you know Charles Manson and Jeffrey Dahmer were breast fed by your mother?

I was present in Austins room on
12May2010-30June2010=TOTAL (cl,tf,es) in ES pts:
He called =15pts or 750$
on 255 trades x 5= 1275$ comission

NET=-525$

CONCLUSION: Austin Passamonte was NOT profitable in that time period.