actual trading experience with Global Trading System
Before signing on with this trading system, you should know the real facts and then make your decision. I paid about $6000 for this system and thought it would be worth it based on the trading history they portrayed on the website. Although this history is fair truthful, it doesn't show the whole story. Since 8/11/11 I have been involved in 28 trades of 2 contracts per trade. On paper I lost $449, if this were the whole story it would not be good but it would just be the way of the market. However, "slippage" reduced this to a loss of $1624.50 (quite a difference) and once you add in commissions the loss if $2073.62. One cannot begrudge the brokerage of making an honest commission but like I said, know the "rest of the story". I would bet that if slippage and commissions were shown in the GTA website the numbers would not be nearly as impressive.
Posted on 2/9/2012
|
Hi,
I have a subscriber to Global Trading Academy for the past 7 months from March 2011 to currently October 2011. I paid $6000 to buy their system. I invested another $5000 to start my account with Cannon Trading. To date I have seen nothing but significant draw downs in the account and I am at $1600 currently.
This method of investing doesn't work in this market or maybe not at all. The history looks real and promising but, in actuality it's misleading to the market conditions that constantly fluctuate. This "system" is supposed to be smart enough to look at market conditions to make decisions but, I could pick a name out of a hat and do better in my opinion.
Look elsewhere for more on this company before investing. If you put your money in a CD or bank account you'd at least have the principal.
Posted on 10/27/2011
|
I am an actual client of this company so I hope this gets posted. I've been trading with several of their systems and was introduced to GTA by a trader friend. After talking with them and doing my own investigating I decided to joined and I've won some and lost some, but I've never had a margin call or a losing year, on any of my systems. Some programs have performed better than others, but my overall experience has been a good one. They never once promised me that I would get rich, but they have done everything they said they would as far as I'm concerned, and I've been around the block a few times.
As a side note, the friend that recommended them to me confessed that what he paid and what I paid were two different deals. He had a money back guarantee, I did not. He received a 50% refund on the cost of his trading system because the system had a losing month after he signed up, I did not! (He's still trading with them though) but I would do it all over again, guarantee or not. I am anxiously awaiting for the new Gold System, which I've been told is currently undergoing the testing process.
Now....another issue of concern for me. The BBB and TrustLink should be more diligent about allowing “non-customers” to post their opinions here. This is a place for people who have actually used the goods and services to write their review of the experiences, not a “blog” for people to give their unqualified opinions. It clearly states on the BBB and TrustLink; “Here is my experience with this Company.”
On that note, I feel compelled to address the post by “CTHINKS” and his “Red Flags” about this company and again, this is based on my REAL experience and interaction with this company.
#1 "for Global Trading Academy, calling people on the no-call list."
Your name is probably on hundreds of lists and occasionally you will receive calls. Just ask to be removed from their list. If the worst thing that happens to you is getting a phone call, you're doing OK!
#2 "for having multiple addresses at PO Box companies."
This is a company that conducts business over the phone and Internet. They obviously don't have a retail location that you can walk into, and the address might be a mail drop. SO? That doesn't lessen the integrity of the company or the services it provides.
#3 "lack of names of people, addresses, and contacts on the site."
(See above response) and..they do have contact info where it says “Contact Us” and once you are a client you have access to trader support 24/7.
#4 "would not answer specific questions - like who are the owner(s)?"
GTA is a private corporation and therefore has several principals, most of whom I have had contact with, and one of the principals is actually listed on the BBB.
#5 "password protected main website page, this makes it hard for disgruntle clients to complain."
First off, you are assuming that there are disgruntled clients in the first place, second THIS is where disgruntled CLIENTS would go to complain, not their own website. The website is protected because there are other companies that offer similar programs ( I have been called by several) that have stolen the GTA concept over the years. (presentation is almost the same) but the information is proprietary.
#6 "Asking for a large upfront cost instead of month to month as the rest of the industry does."
Define "Large" The most I've paid for one of their systems was $7000.00. If you can't afford it you can't afford it. What rest of the industry are YOU speaking of? You get what you pay for. I have several trader friends who have been involved with programs that charge monthly fees and they lost a lot of money in the process, but still had to continue paying for it. If you have a problem paying an upfront cost for something then don't buy it. Plus, if YOU had a couple of back to back losing trades YOU would probably panic and stop paying for it anyway.
#7 "Lack of back tested data; the data should be years, not months"
I was shown back tested, paper traded and live traded performance results on all of my systems prior to committing any money. That information is provided on the website. They provided 3 to 8 years of testing and trading.
#8 "Selling to the wrong people. I said I was not working, but they continued forward with the sales presentation. Selling a high risk system to out of work people is not a norm for this type of trading."
A) You did have the option of simply hanging up the phone.
B) Having the ability to create an additional source of income, especially if you are not working, makes sense to me.
C) Obviously your definition of “High Risk” is very different from mine. You must not have paid attention.
#9 "There are a number of companies doing this and they are all from the same area So. Cal including Market Masters, BB Trading or Black Box 2 trade, Global Trading Academy, Luxman Trading Concepts, Global Trading Group, and trade tech institute"
Location, location, location. Who cares as long as you're making some money.
As far as the other companies you mention, do some research. Blackbox2 Trade, BB Trading and Luxman are one in the same, in fact they are currently operating as CTI Group LLC, CTI Autofutures Trading and Cooper Trading. I know people that were burned by Luxman, and now they get calls from CTI trying to sell them on another system. Trade Tech Institute was formerly “Spyglass Equities”. Global Trading Academy has had the same name since 1992, and has nothing to do with those other companies.
#10 "Many warnings on the internet about this and similar companie"
The warnings you speak of are from people like you who again, have not actually used GTA system, in fact I saw the same letter you wrote on those blogs. I have read some of the misinformation that is circulating out there in Blog land and none of it compares to the due-diligence that I was provided with and did on my own.
So this is “CTHINK's” opinion, nothing more. He is not a client of Global Trading Academy, he has never used their trading systems, or for that matter, even seen their full presentation. Based on the length of his post I would say he has WAY too much time on his hands....maybe a hobby would help. Something other than trying to destroy the reputation of a legitimate business just because YOU didn't like getting a phone call.
And are we to assume that this person "Cthink" knows everything there is to know about automated trading. Did he have a bad experience with a different company that left a bad taste in his mouth? What are his credentials? If he has any, I would think that he would be proud to tell us who he is so we can all ask for his financial guidance. He states that he is on the "Do not call list" which would make me think twice about his motives here. And why would he asked to be called back if he's on the Do not call list?? He even admits that he "Did not get all the information." He also appears to be an expert on how to set up a phony business. Is this based on his personal experience, because there are a lot of companies out there that HAVE actually been in business that long with a great rating.....does he question them as well. You could find numerous complaints against Walmart or Microsoft or any other company from people who have legitimate gripes. Does that mean we stop buying from them?
Please, BBB and Trust Link, only allow people like me who have conducted business with this company to tell you how we feel, then people can all make a decision based on FACT. And I do not wish to get into a shouting match with anyone please. I'm too old for that!
Sincerely,
G. Wagner
Posted on 1/27/2011
|
I am simply amazed at people, you / we all live in a free country, and expect that the greatest economic giant in the history of man was created in a vaccum? Free exchange of ideas & products for sale is the fundamental hallmark a Democracy in action. What would you perfer, your investments spoon fed by the Federal Govt, Obama Investments? Yes there are oversights, mis information, lies, damm lies and outright lies, let the buyer beware, But when a company takes time to explain their BBB rating, no blemish on their DOJ to investors, think for a moment, do other companies do the same, have they been in business under the same name for 18 years? Do they allow "cooling off" periods as opposed to throwing 1 incentive after another to keep a "potential client" on the phone and close the deal the same day? It's a free economy, you have the right to refuse or be welcomed aboard, regardless of the investment scheme and always we all have to right to say not interested and hang up the phone. I believe once we lose the right to pick & choose whatever it be, elections or investments,,. we lose the right to be an American,
Posted on 12/14/2010
|
the website is www.globaltradingacademy.com
Global trading Academy looks like a future signal system scam or rip-off. I will explain how the scam works and how they get a good 18 year BBB rating. At the end, I tell you how normal companies do it.
I am not talking about any training at Global, just a sales call I got.
So
I don’t know if Global trading Academy is a scam or not but the best way to find out is to ask what brokers they have been dealing with for the last 18 years. If they are good, they will have several brokers that have a long term relationships with and if not, then as broker get to know they are mistreating people they will drop them. So, if the brokers are new with the company, red flag.
My story…
I got a call from Global trading Academy salesman. I asked how he got my number as I was on the no-call list? He did not answer directly, but proceed to do his pitch. Note: all salespeople need leads (leads are people or business to call) and all capable ones know where the leads came from. So always ask and they should tell you or there manager will know so you can get off the call lists. Oddly enough, I said he could call me back and he never did. I did see the website and thought it was odd to be password protected at the main page.
A few red flags...
Red Flag #1 for Global Trading Academy, calling people on the no-call list.
Red Flag #2 for having multiple addresses at PO Box companies.
Red Flag #3 lack of names of people, addresses, and contacts on the site.
Red Flag #4 would not answer specific questions - like who are the owner(s)?
Red Flag #5 password protected main website page, this makes it hard for disgruntle clients to complain.
Red Flag #6 Asking for a large upfront cost instead of month to month as the rest of the industry does.
Red Flag#7 Lack of back tested data; the data should be years, not months
Red Flag#8 Selling to the wrong people. I said I was not working, but they continued forward with the sales presentation. Selling a high risk system to out of work people is not a norm for this type of trading.
Red Flag#9 There are a number of companies doing this and they are all from the same area So. Cal including Market Masters, BB Trading or Black Box 2 trade, Global Trading Academy, Luxman Trading Concepts, Global Trading Group, and trade tech institute
Red Flag#10 Many warnings on the internet about this and similar companies.
More on the internet.
For more information look up the following on the website www.800notes.com and search the phone numbers, 760-673-7266 and 866-681-4821. Also go to the website www.trade2win.com, then “forums” and search in the upper right corner “Trade tech Institute”. www.markettorrent.com/community and search global trading academy.
But it appears Global Academy is selling the signal for thousands of dollars in advance. You should never buy signals in advance as they will stop working. (You should pay month to month.) From what I saw there was limited data on back testing data not years but months.
How can a bad company have a great BBB rate that has been around for 18 years? It is easy…
For a good BBB rating for 18 years, you buy the name of a company that may or not be in operation for 18 years. Then you run it differently. You can always change the name.
How to create a system that looks great on paper with huge gains? A turn out that is easy too. I spoke with several people that go to a local stock trading group and there are programs that will curve fit to the markets last several months charts. But, unless the market does just what it did for the last 6 month, the system will fail. Also, it is easy to show a positive return on a scalping system (very fast, short trades) as you don’t get the fills you need, but in the real world, will not get the fills you need.
How to get your money back from a future system scam? Well if a company will not let you get it back.
The best way is to contact the broker as the scammers cannot sell the system, if they don’t have a broker to work with. The futures brokers are regulated by the US government. The brokers should have an ongoing relationship with them and if you tell the broker you are going to say bad things about them on the internet dealing with scammer and contact the SEC. Well, they may be able to help get some or all of you money back. The brokers know better than to deal with a scamming company and they should have the contact information on them. Call the media, TV, radio for consumers, Call the SEC wit the company and broker. And then, maybe small claims court.
So here is the scoop on how futures trading system should work.
A system developer person spends months or years creating many systems, then backtest for years and foreword tests it for months. Looks for the worst draw downs them sells the signal (to buy or sell a future or stocks) on a month to month for about $50 to $200 dollars. The signal should pay for itself. So if you are paying $100/mo. you will make say $300 to $1000/mo on average. This is a high risk reward investment and you can lose all or most of most of your money. The systems will work for months or sometimes years then stop working. The draw downs can be 30 to over 100% in a few months. The magazine on the future systems is Futures Truth Magazine. Note: All the good system developers you can talk too and they trade their own system. The brokers are a small specialized group that will warn you this trading style is not for everyone and there is never any pressure to buy.
Posted on 11/23/2010
|
Jan 21, 2010
J.D. Roth
Global Trading Academy
Palm Springs, CA
Mr. Roth,
Per our agreement under the Testimonial program discounts that you offered, I am writing provide you with my impressions of your company and the S&P program that I subscribed to.
1) Your office was very helpful in helping me understand the program initially. As a widow, my husband handled most of these issues. Your website review and patience in answering my questions was invaluable.
2) Scott, your compliance officer, was both courteous and professional. It was nice to have the contract review and know that the information was all recorded.
3) Your trader assistant, Paul, is amazing. His knowledge and perception of the markets is very comforting. I sometimes feel like I am asking really stupid questions, yet Paul is always willing to explain the smallest of details.
4) The broker that set up my trading account, has been nothing but professional. They made the setup and execution of my account through an IRA painless. The monthly account statements are an easy way to keep track of the account and verify the trades against the information provided by GTA.
The past six months have provided returns in line with my expectations and I look forward to continued success.
Mary C.
Sterling, VA
Posted on 1/22/2010
|