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Like the gentleman who started this post I lost several thousand dollars trying to make the SOT methods work. That of course was after I spent over $3500 on the SOT membership.

For anyone who is thinking of joining SOT let me give you my experience because I hope it will help you avoid the mistake of joining and worst of all believing that an SOT membership will help you be successful.

I was a struggling trader trying to figure out a way to make a living. I stumbled onto the SOT youtube page and was amazed by the results he was claiming. I looked back over the many videos he has and thought it was worth a try to test the 2 week trial. I tried to follow along with what he was doing each day but everything happened fast and I could never truly tell when he was actually taking a trade. I thought to myself...if only I was a member I would have all of the charts and indicators he has and he would be able to educate me on how to be successful so I joined.

Here is what I quickly learned....he lies about his results. If you randomly enter trades on your own and only count the winners anyone can show big profits on a bogus spreadsheet. For those that have used NT which is what JJ uses to enter his trades you know how simple it is to generate a very detailed report of all trades and profitability. The spreadsheet only has the winners with a few small losers spread throughout to make it look more legitimate.

When you take a free trial you will be overwhelmed with all of the charts and random hot air that JJ will talk about. He is great at sounding like he knows what he is talking about!!! By the time you figure out that is nothing more than a bloated fancy show you are already out your $3500+ and your pride will force you to keep "trying to make it work" After several months of losing money you will eventually have to admit you were duped by a very clever scam artist.

I have completely given up on getting my money back but I do want JJ stopped because he will continue to fill people with false hope with his bogus youtube videos. I only want him stopped so he can't hurt any more people.

I hope people aren't duped by his auto trader either because in case you haven't noticed the last update was May 6th and today is May 20th. Why no updates.....because the auto trader is getting creamed right now. He puts on the site that you can have an account with only 2K or so in it and use the auto trader but a person would get a margin call in a hurry with that plan so PLEASE DON'T FALL FOR THIS! I am confident the clever JJ will change the auto trader settings and "curve fit" soon to improve the results.

He also lists on his site that you can "manage accounts" and if this is true this is illegal by everything I can find because you have to be registered and certified to manage anyone else's money. I fill sorry for anyone who puts any money with these folks to manage. The SOT members area lists that even if the results are on a simulator for only a month you can "qualify" to manage money. If the CFTC won't do anything about that nonsense then they aren't doing their job.

I am thankful this gentleman put up this review to reveal SOT as bogus and I hope that will help others avoid the financial and emotional pain that will surely follow if they become SOT members. Please don't make the same mistake I did!!!!

Monetary Loss: $10.

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ethanchall
Dallas, Texas, United States #604884

Re-posting this here since it is the second SoT complaint:

All,

I joined the advanced program back in February of 2010 after watching the room as a guest. I traded in the room with JJ every day for just over a year...until I launched another business which consumed too much time for me to focus properly on trading. Since then my visits to the room have been a bit sporadic just to stay in touch.

I have also traded Forex and Stocks since 1997. Unlike most of the commenters on here, I really know what I'm talking about regarding trading in general and SoT.

First, let me address the "scam" claim. My understanding when I joined was 1) that JJ would teach me his methods for trading price action based on technicals and order size flows and 2) that these methods work, period. I also understood very clearly that my success would be determined by MYSELF, not JJ. I was not *** enough to believe that I could shadow trade him, especially with the latency on a video feed from almost 2,000 miles way.

And regarding this "JJ better entry" issue, this has been addressed as well. Every different feed is going to vary slightly, especially with transmission latency. You need a very low latency connection to the feed in order to get in with the trap technique and a good level like he does. Also, he does have a bit on an instinct about pulling trigger where the entry level nets him a an extra tick or two...which can make a big difference. Either...

All gains and losses over that year were clearly MY fault. JJ told us repeatedly to take a disciplined look at our own goals and situation to formulate and strictly follow a daily plan. JJ clearly demonstrated from day one how to use his methods to make consistent profits. I saw every winning and loosing trade he took, displayed there on the chart for over a year. So was I "scammed"? Absolutely not. Many on the internet love to throw this word "scam" around and few know what it means. I never paid him to be "honest" about his trades. I know he has been 100% honest in the way he has dealt with me and the market truths he has conveyed in the room. Beyond that, I don't care whether he trades sim or live. But I will say he told us on a number of occasions that he does not trade in the room to make a living for himself, but strictly to teach his methods. I think most people are just not very bright and expect to follow him like lemmings and avoid all the extremely hard work JJ puts into his analysis and trading. Of course it is possible he has been dishonest on occasion to get a little extra business jsut like about everyone else on the planet has...I can't say for sure. But I do know for sure that if you pay the membership money, follow the instructions in the course materials, ask for help on details, and execute the right plan without emotion, you will be successful. A "scam" is when someone was intentionally deceived into not receiving what they paid for; and with SoT, members do get what they paid for regardless of their trading results. Everyone should take a good look in the mirror.

Second, I do believe that JJ has become a bit of a victim of himself over the past couple of years. Things were much simpler in 2010. Back then there were the basic patterns and easy going trade decisions. The concept "700 bucks a day" was great in that there were not the extreme highs and lows you see today.

JJ does the mental work of 5 traders every day. I've never seen anyone else perform tasks at such a high level of output over time. So as he hungered for more, I believe he introduced too many additional systems and methods in a attempt to move forward and chase evolving markets. His original methods were solid; but since then it has seemed impossible for one person to perfect all the stuff he has available.

And so my assessment of the current situation is that people are overwhelmed and confused because they don't understand the big picture and the roots of his trading systems. They focus on the wrong priorities like whether he is live or sim, or whether he treats every loss or gain with the same attention. In my opinion he is spread way too thin with too many systems and too many members.

I also believe many (most?) members are guilty as they do not start with the very beginning of his core methods and stay on sim until they are making good, consistent, dispassionate trading decisions. Only then after time controlling your emotions and cutting losses early will consistent profits materialize.

All of these "I lost all my money in the first month or two" stories are irrelevant. That was their fault. If they did what they were instructed to do, they would have lost all of their SIMULATED money and decided TRADING WAS NOT FOR THEM during the free trial period. If you do it properly, nothing changes from sim to live...trading is the same. Emotional hang-ups regarding the switch to live are the fault of the trader, not the teacher.

So take this as you will - but my advice is to put the energy into learning to trade JJ's methods instead finding fault as if he is supposed to be inhumanly perfect.

Regards,

Ethan

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Anonymous
to ethanchall Mililani, Hawaii, United States #902453

It's been awhile. What are your current thoughts about SOT?

Anonymous
#503604

Why have I made thousands trading with SOT?

Anonymous
to KEvin Mililani, Hawaii, United States #902456

It's been awhile. What are your current thoughts about SOT?

Anonymous
#495050

I will not give my real name.I can report that after joining this scam artist's room, I have been thrown out with no recourse, because I kept asking questions about his fills.

Unfortunately for Joe, it is very easy to trace a person's location online, if you know security.

Bouncing your signal off a third party application site doesn't help.Joe should be careful about taking walks in his current area, because he can be videotaped, identified and exposed quite easily.

LloydH
#459547

This needs confirming by someone (which should not be too difficult). I believe the two main individuals behind this scam at www.schooloftrade.com are :

Joseph Donald Dufresne , born Mar 25th 1981 of Tempe AZ. Last known address was 2475 Pecos Rd Chandler, AZ 85224. Prevously at 4278 Jasper Dr

Chandler, AZ 85226.

and his brother

Perry J Dufresne, Scottsdale, AZ.

Anonymous
#364514

So far,I had just one day in his room called sidewaysmarkets.com and after the day his recap showed no losers when i saw with my own eyes he had at least 3.The guy seems to purposely talk so fast that you think he is saying one thing yet he is saying another.

Also.....what trader can follow 4 or 5 different markets on an 89 tick chart and make good decisions? No one can do this in real life. You would have to have a heart attack in 3 months if you tried doing his method for a living it would seem. I cant prove anything from one day, but it smells like a scam to me.

So "sidewaysmarket.com SCAM" will hopefully come up soon for people trying to do research on this company. What a shame, with his energetic personality,this Joseph James owner of sidewaysmarkets.com could really help a lot of people if he would just stop all the smoke and mirrors and double talk. And I already saw a post where one poor guy said he paid $4000 for the course and then get booted out of the room for asking too many questions.If thats true, that sounds criminal to me! To join sidewaysmarkets.com you have to put up 4 grand up front.

Thats scary! They have no monthly memberships from what I can see. Also a red flag. I admit, myself included, anyone who has had to make one big upfront payment to get into any chatroom, prop room or supposed "educational trading room" has gotten scammed on the Internet.

I pray the attorney general and the CFTC, SEC and all law enforcement...

Being most of this is interstate and a continuing criminal enterprise, I would think that would involve the FBI and be a RICO case which federal law enforcement guys love to prosecute.So far all the scammers selling trading systems 10 years ago are all still in business from what I see.

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