"Hall of Shame" list - who should be here?

I wanted to start this thread to expose the biggest scammers that are selling crap and take advantage of naive traders. Both EA developers and Brokers should be included here. This will save us time and effort not to revisit and deal with a scammer again. So the question is: who in your opinion deserves to be on this list and for what reason? Please give your reason and supply the URL of the scammer along with the name of the product they are pushing.

Re: "Hall of Shame" list - who should be here?

 

And the crown goes to.. Mr. Zack Kolundzic of http://www.forexderivative.com. He in my opinion is the king of scam and deception. Reasons:

1. Deceptive, optimized backtests with optimization values stored in the EA (DLL) to show impressive backtest results. This was done to lure people into buying his EA without any regard for any client's money. If the client loses money with this EA, who cares in his opinion? He already made his sale.

2. Even after developing this EA and testing it for so long, he realizes that the EA does not know how to close trades and take any profits. So he has to go back and re-code it.. oops! Sorry you lost your money..

3. Despite being discovered.. he still claims the EA is performing instead of issuing refunds to purchasers with an apology.

Re: "Hall of Shame" list - who should be here?

 

http://www.forexpertadvisor.com/

 

neuros sharp shooter

 

these guys rip off Yourlucky RDB ea, rename it

 

send you 22 indicators and dlls that are a fake, unused by ea so it "looks impressive"

 

has no neuros smart coding what so ever in the ea

 

claim the "as seen on TV" crap on there website

 

 

scammers big time!!!

Re: "Hall of Shame" list - who should be here?

 

LOL .... =)) =)) =)) =)) =))

 

it should be HALL OF PLON !!!

IMO

I ever write a REQ. and no one ever answer it, about RICKY CHEUNG the E MINI &S&P - PLON ... it was sell at 50 K $ for only indicator. =)) MOST EXPENSIVE IN HALL OF SHAME

imo . with 50 K In indonesia You get :

Account at interactive broker strating at 25 K

an Official NINJA TRADER and 2 Indicator that YOU KNEW IT IT WORKS . for 3K

A C# or programing Course ( of course with .NET certified by microsoft ) for 2K

and next 10 K you can get HOME and CAR LOAN

and for the last 9K you can buy some Retail FRANCHISE :) so your income does not Running wildly .. in trading .

and The last 1K You may BUY a wife ....include package honeymoon on BALI =))

Re: "Hall of Shame" list - who should be here?

 

Guys, wanted to draw your attention to the list from here:

 

http://fxillusions.blogspot.com/

 

Do not bother to translate whatever is in Russian, it only means P.O.S. :) This list comes from very experienced Russian trader.

 

5 EMAS-Forex-Trading - ?????? ? ???? ????????.

10PipsPro - ???? ????????.

Accelerator - ???? ???? ????????.

B-52 - ???? ????????.

Bartrader - ???? ???? ????????.

Bogie-atc2007-1 - ???? ????????.

Bogie-NN-1 - ???? ????????.

Billionmeter - ?????? ????????.

Detector - ????? ???????????? ?????.

Destiny Forex - ????? ???????????? ???????.

DoublePlay v3.5.2 - ???? ????????.

EuroX2-SL - ????? ???????????? ?????.

Expert-4X - ???? ????????.

ForecastTrader - ?????? ? ???? ????????.

Forex Annihilation - ?????? ????????.

Forex Autocash Robot - ???? ????????.

Forex AutoMoney - ?????? ????????.

ForexAutoPilot - ???? ????????.

Forex Brotherhood - ???? ????????.

ForexBull 2.3 - ?????? ????????.

Forex Boomerang - ???? ????????.

Forex Confidante - ?????? ? ???? ????????.

Forex Derivative - ?????? ????????.

Forex Funnel - ???? ????????.

Forex Mafioso - ???? ????????.

Forex-MHV - ???? ????????.

Forex Profit Huner - ?????? ????????.

Forex Profit Code - ?????? ????????.

Forex Tracer - ???? ????????.

FractalWizard - ???? ???? ????????.

FreedomRocks - ???? ????????.

FxBandit - ???? ????????.

FxGeo - ???? ????????.

FxproMaker - ???? ???? ????????.

GoldenGoose - ???? ????????.

Golden Grid - ???? ????????.

Gainscope - ???? ????????.

Hydra - ??????????? ???? ????????.

MoneyGrid - ???? ????????.

MostWantedForexRobot - ?????? ? ???? ????????.

P.I.D. sp4 - ???? ???? ????????.

P.I.D. sp5 - ???? ????????.

PipBoxer - ???? ???? ????????.

PipForia - ???? ????????.

PipForia v004float - ???? ????????.

Pipmaker v10 - ???? ????????.

Pipsland - ???? ???? ????????.

Pipzu - ?????? ????????.

ProjectPips - ???? ? ?????? ????????.

ProsperaTrade - ?????? ? ???? ????????.

RobinHood ?? v4.6 - ???? ????????.

Shark v4.0 - ???? ????????.

The Robotrader - ?????? ? ???? ????????.

TradeGoose - ???? ????????.

TripleXXX - ???? ????????.

TyScalper - ???? ????????.

Viseu Open 001 - ???? ????????.

VF_Capital - ???? ????????.

VF_Break - ???? ????????.

VF_Boomerang - ???? ????????.

Winning-Solution - ???? ????????.

Re: "Hall of Shame" list - who should be here?

 

Don Steinitz. He now charges you $50 to listen to him then try to sell you his crap indicator. He should be in jail Complete gabage.

Re: "Hall of Shame" list - who should be here?

 

I would add ISEA to this list as a strong contender. URL: http://www.expertadvisor.cn/2009/04/investiva-super-expert-advisor-isea.html

I know a lot of people here are still looking for the ISEA pie in the sky but that will never happen. My reasons for including it here are:

1. Deceptive and inflated claims with live demo accounts traded at brokers offering unrealistic spreads. In reality these brokers do not exist.

2. Ripping off another EA and claiming it is theirs.

3. Charging $1000 for theft and lies should be considered fraud.

4. In essence the developer is feeding on people's greed. People become greedy thinking they found the holy grail and want to believe that this EA is for real. So the developer is showing the pot of gold and inviting them in a dark room only to hit them with a bat on the back of the head, rob them and leave them there cold. When waking up, one realizes finally what happend but it is too late. The money's gone and the head hurts bad!

Re: "Hall of Shame" list - who should be here?

 

I think it would be faster selecting the eas that aren't a scam..

:-)

Re: "Hall of Shame" list - who should be here?

 

Yep, in this forum ISEA is number 1.

I would add a Sharp Shooter and Barracuda.

And stay away from Velocity4X. It is all true what they are saying...

Re: "Hall of Shame" list - who should be here?

 

Anything you receive by e-mail from Martin Alexander =))

Re: "Hall of Shame" list - who should be here?

 

I think it would be faster selecting the eas that aren't a scam..

:-)

 

my sentiments exactly,

 

why focus on the ten tonnes of garbage, if you were to put every scam ea there has been on here i dare say we would break a world record for most crap in one spot

Re: "Hall of Shame" list - who should be here?

 

I think it would be faster selecting the eas that aren't a scam..

:-)

 

This has been tried many times. What we end up with is with Scammers promoting more scam. Search for the threads where the best EAs are requested.. what do you find? Fake rated 1,2,3,4,5 EAs that are no good. Hopefully doing it this way we find out who belongs in the Hall of Shame and we avoid them in the future.

Re: "Hall of Shame" list - who should be here?

 

perfekt idea mate \m/

Re: "Hall of Shame" list - who should be here?

 

I think it would be faster selecting the eas that aren't a scam..

:-)

 

my sentiments exactly,

 

why focus on the ten tonnes of garbage, if you were to put every scam ea there has been on here i dare say we would break a world record for most crap in one spot

 

You gotta get the garbage out before your house is clean my friend. Ignore people that keep telling you that you should live with garbage inside your house - it will start smelling bad soon! Same for some individuals here that focus on making the list of the "best" EAs.. they know who they are.. sniff, sniff..

Re: "Hall of Shame" list - who should be here?

 

Personally think no good will come of this thread, just dont see how 100 pages of people labeling stuff as crap is helpful, if you wish to give an opinion about the EA put it in the thread so people playing with it can see you opinion and dont have to sift through 10 tonnes of crap for it.

 

Better yet if there isnt anything about the scammer and their system well create a thread with links and offer an opinion there.

 

Just all strikes me as redundant data sitting in one thread

 

just my 2c, wait the aussie dollar is falling make that 1.77c

Re: "Hall of Shame" list - who should be here?

 

The truth about Stephen Pierce and "Fibonacci Secrets":

 

This guy is well known in finding a niche (for example - "holly grail" in trading) and making millions by selling absolutely nothing.

 

read here:

 

http://www.winningyourniche.com/index2.html

 

http://stephenpierceinternetmentoring.com/

Re: "Hall of Shame" list - who should be here?

 

And don't forget Bill Poulos...

 

Read about his son Greg Poulos talking about the big money comes from trading courses:

 

http://www.mrmibasictraining.com/?page_id=753

Re: "Hall of Shame" list - who should be here?

 

a wife is cheaper then a programming course?

 

what a great country !

 

:D

 

LOL .... =)) =)) =)) =)) =))

 

it should be HALL OF PLON !!!

IMO

I ever write a REQ. and no one ever answer it, about RICKY CHEUNG the E MINI &S&P - PLON ... it was sell at 50 K $ for only indicator. =)) MOST EXPENSIVE IN HALL OF SHAME

imo . with 50 K In indonesia You get :

Account at interactive broker strating at 25 K

an Official NINJA TRADER and 2 Indicator that YOU KNEW IT IT WORKS . for 3K

A C# or programing Course ( of course with .NET certified by microsoft ) for 2K

and next 10 K you can get HOME and CAR LOAN

and for the last 9K you can buy some Retail FRANCHISE :) so your income does not Running wildly .. in trading .

and The last 1K You may BUY a wife ....include package honeymoon on BALI =))

Re: "Hall of Shame" list - who should be here?

 

i agree with the purpose of this thread,

 

since there's way too much crap out there, it'd be easier bagging and tagging them once and for all, rather than waste time ploughing through them, that way the good ones stand out.

Re: "Hall of Shame" list - who should be here?

 

Hall of shame is nice topic to have.

 

Small suggestion - would be nice to have such hall in the very first post here in alfabet order, just for the sake of better usability.

So every new candidate, posted in this thread would go into the first post.

 

Once it's found that item is not that bad to be in this hall, or its newer version is okay, item can be permanently deleted from the hall, or, which is even better, small comment "rehabilitated" can be put.

Re: "Hall of Shame" list - who should be here?

 

I think the "Day Trading Robot" from "http://www.daytradingrobot.com/" is another hidden BIG scammer. The web publisher claimed the "robot" (indeed is a piece of low quality software), which uses Artificial Intelligence to pick up stock for you everyday and earn you $100++. I have personally tried this robot and I have found out shits as follows:

 

1.) The publisher or creator of this software provides no technical supports at all to their users. I sent more than 10 emails to them and asked about the precise operation of the robot, in the end I received no reply at all.... The manual given is poorly written and organized. It does not specify any details in accordance.

 

2.) As claimed by the creator, the robot will become more and more intelligent and accurate in picking up profitable stocks if you run it for longer time. But infact, it doesn't. ( The robot seems to be doing very well in the backtest, but when feeding it with a new fresh data and ask it to make prediction, the results are miseable!) In doing a back test, the winning rate is more than 90%, but in forward test is hardly hit more than 20%! The funnist thing is: When you make the robot to learn the "new fresh data", it again performs well but when redo the forward test... It failed!

 

3.) There is one of their affiliates (not sure whether they are in the same group or not) actually claimed that he got a secret key/ code in operating the robot but only be released if make a purchase under him. In order to obtain the so-called secret code, I did that and eventually what I received was just a 2 pages spreadsheets that didn't mention much about the secret code but only on the newsletter! Again, I asked him about how to operate the robot properly, he gave me a reply that "He is not a user of the robot" but will revert back to me when he got the info from his friends... Again... No turning back :(

 

Hello... during his sales pitch, he claimed that he has earned more than $1000 from using this robot and now he said he is not the user of it!!!! What the hack is that???

 

So, my conclusion is that never trust to buy anything from that site but, luckily I still get my refund back from clickbank...

 

If I am not mistaken, they are now having a 50% discount promotion on the robot and newsletter.... Be ware...

 

 

 

@-)

Re: "Hall of Shame" list - who should be here?

 

Yeah... I have something to add-in.

 

It seems that the newsletter from "http://www.daytradingrobot.com/" and "http://doublingstocks.com/" are the same.... I had subscribed to both services and I have found out something as follows:

 

1.) Usually the newsletter from "http://doublingstocks.com/" will be coming in first to my mail box before "http://www.daytradingrobot.com/". The funnist thing is: Both the newsletter contents are exactly the same except with different senders' names and initials.

 

2.) As stated on the webpages, the tips for stock pick will be released every week or twice a month. But in fact, it has been more than 6 months before the last pick was released about a month ago... and now everything is just "silent".

 

3.) The stock tip newsletter only contains the stock ticker name and with some company backgrounds. It doesn't contain information about what is the recommended buying price/ price range, so it is for the user/ subsrcriber to think hard about the investment.

 

4.) Before the stock tips were released, I strongly believed the publishers of these newsletter already bought quite a huge quantities of stocks for these tickers at low prices and there is no more rooms for their subscribers to buy the tickers at competitive prices except at the escalating prices. When the prices of the tickers reached their "Profit Target".... They will sell off and leave the subsribers/ followers stuck.

 

In short, they are smart scammers that not only earn money from their subsribers (Used the revenues genertaed as the capital of their stock investment) but also, earn money from the stock market.

:)

Re: "Hall of Shame" list - who should be here?

 

I suddenly recalled something about "Day Trading Robot".

 

As stated on their website, "Dr. Robert Finn" involves in the development of this "masterpiece". But when I googled and discovered one of the blogs that mentioned about this "Dr. Robert Finn & Day Trading Robot" few months ago, one of the respondents actually contacted "Dr. Robert Finn" personally, what he has found out is that Dr Robert Finn denied any connection with the development of this "masterpiece" and even stated he knew nothing about it!!! Dr Robert Finn is not majoring in the research of "Artificial Neural Networks', instead he is a mathematician..:) If I am not mistaken...Doesn't it like a joke? I doubt the person claimed himself to be "Jason Kelly" from the "Day Trading Robot" website is the real "Jason Kelly" who is pioneer in stock investment.

Re: "Hall of Shame" list - who should be here?

 

It is already annoying to know that they are using false information to deceive innocent users. Furthermore, their creation is not really profitable at all!!! So, if we have a chance to make a Diamond crown, it should go into the real "Day Trading Robot" creator. :)

Re: "Hall of Shame" list - who should be here?

 

Another scammer that I wish to reveal here is :Automated Forex Grail"

 

It seems that the publisher of this EA had already pulled off their website and the last message that I saw from their website (about a month ago) was:"The products" has been sold out cos It had reached the sales quota!!!.... Come on... is this possible??? Let me share with you about my experience.

 

I bought this EA about 3 months ago and was thinking of I would become rich without doing anything and just let the "Forex Grail" run in my account for months... This is what has been explicitly claimed at their website previously... Certainly I believed it at that time but still not dare enough to run it on my live account.

 

This is what I got after 6 hours of running the EA in my demo account:

 

The initial deposit of $500 became $12.00 after 6 hours. 2 trades were opened (0.3 lots as suggested in the manual for this amount of deposits) and both were lost! I was surprised to noticed that eventhough the market was significantly in uptrend, the EA still opened its second trade in short position that caused the huge losses!!

 

After experiencing this kind of situation, I quickly requested for a refund from clickbank and fortunately got it back. When referring to the review written by one of the famous forex tester's website. I found out that this "Automated Forex Grail" was imply a clone of Fapturbo that trades "Eurusd" for long term. The creator did not test the EA properly before launched it to the market.

 

X-(