Most "live" trading rooms are scams
If you search Google for something as simple as "ES Trading Room", you will be greeted with literally hundreds of links. For example, I will pick on a particular trading room called 'ES Profitable Every Day'
Why them? No particular reason, you could replace 'ES Profitable Every Day' with hundreds of other so called trading rooms. The pop up window as soon as you are on the home page offering a "FREE ES 5 minute basic strategy" is the classic trigger to know you are in pure advertising territory. Trading comes a mere second. Oh and don't forget the 1 Day Challenge!
The generic formula of trading room advertising continues as you move throughout the website. There are all sorts of price point levels with the aim to reel you in. Only want to trade the first or last hour of the ES? No problem! There is a price point for that! It is all very polished and slick. They even show a few marked up charts showing alleged trades that were taken. Fantastic!
As you read on, they start to make claims about the profitability of their trading. "$100 - $1,000 per day and trade for only 30-60 minutes". What a Godsend! This is exactly what the newbie wants to hear. So as a struggling trader you email them for help. They welcome you with open arms. "We can make you consistently profitable" they reply. They will even thrown in a couple of days in the trading room, for free! Wow. What have you got to lose.
So what do you do? Do you sign up in the hope that all what they advertised is true, or do you move on to the next trading room?
I actually made up ES Profitable Every Day. It doesn't exist. However, when you started reading this you thought it was true because you have probably seen it all before. The formula to reel in new traders is very similar. And they have to keep doing it day after day, pushing the boundaries further and further. Why? Because when the gig is up and existing subscribers have seen through the façade and leave, they need to keep the hamster wheel turning and keep the income flowing from unsuspecting new traders.
To find out more about the depths these scam artists will go to, head on over to Emmett's website and educate yourself on the cesspool of the trading industry. I am not affiliated with Emmett but he is taking the charge here and I commend him for it. No, he isn't liked by everyone, but he has ruffled enough feathers for people to further the conversation and most importantly, ask questions!
It was Emmett whom discovered that Al Brooks point blanked refused to show any proof he actually trades a live account with real dollars. Al was pressed hard and still refused, noting many of the excuses given by many of the 'other' trading room frauds and scam artists.
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