United Business Servicing - My experience with SchoolofTrade.com
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.