- Report: #319519
Report - Rebuttal - Arbitrate
Complaint Review: Better Trades - Long Term-Short Term
Better Trades - Long Term-Short Term3225 S. McLeod Drive #100 Las Vegas, Nevada U.S.A.
Better Trades - Long Term-Short Term, Inc. brainwashing seminars, pushy selling practices Las Vegas Nevada
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Basically at the 2 day seminar, you are hit with an overwhelming amount of information that you can't possibly take in or understand and you don't know what to do with. So they push their 'tools' that you will need to use their strategies to the tune of $6000 more. Subscriptions are for a year, you couldn't just do it just for a month to see if you actually liked it and could do it. It was all or nothing, and if you didn't purchase it during the seminar, then the price went up drastically, so you felt like you had to make a decision right then. It was all very quick and pushed.
I felt brainwashed to be honest. You don't really understand what you're getting into, but they make it sound so wonderful and easy. So I left the seminar with $10,000 on my credit card but felt I could do this. I went at it daily for 4 straight weeks, taking their online web classes, learning how to use their tools, doing fake paper trades.
Their online classes are basically 'teasers' where instructors give you tidbits of information but then push their own seminars costing in the thousands. I was never told I'd have to pay for more classes. But apparently you are supposed to find a 'mentor' whose strategies you like then go take their classes for more money if you really want to learn what they are doing.
On the fake paper trades, I've consistently lost money so I don't feel comfortable putting more money on the line after I already have a debt of $10,000 built up. After studying it, I don't feel like it fits my personality. I'm not a gambler and this all makes me feel very nervous the more I learn about it. The only real thing I've taken from this is that the market is very volatile and no matter how much technical analysis you do, it could still go the other way from what you thought. Also you have to have a strong stomach.
I wrote to them and told them how I felt, since it had only been 4 weeks I hoped I could maybe get my money back or a portion of it. They said all they can do for me is for me to 'reread' the 'guarantee' I was given and the 'contract' I signed. The guarantee consists of me having to do 6 real money trades a month for 6 months, and if I don't make 3 times the tuition of $4000, then I would get the $4000 tuition back. I told them I don't feel comfortable doing any real trades and I don't want to use their tools either ($6000 worth). I've lost enough money, I just wanted my money back. I'm uncomfortable with the whole thing and feel misled. I told them I just didn't want to do any of it. They said there's nothing they could do for me.
At the time I signed my 'contract', I didn't really understand what I was getting into. I felt coerced, they are very good salesmen. I wanted a new career so badly that I fell for this. They had me thinking I could instantly make this my career and had testimonials of regular people making $500 per day, etc., and if you used their strategies and 'rules' that you virtually couldn't lose. But thats just not the case, I feel like I was taken for a ride. I look back and just want to kick myself for falling for it. Now that I studied and got a feel for the whole stock market thing, I decided it wasn't for me, but they just don't want to hear it. They have to understand that its not for everyone. I'm sure they'll say 'we never promised you'd make money, we just show you our strategies'. I wish I had more time to understand what I was getting into. They are such great pushy salesmen, I gotta give them that.
Finally after I wrote a letter to the Better Business Bureau of Nevada, where their business is stationed, I did get a phone call from one of their representatives, who told me he was going to help me learn and that I should take their mentoring classes of which I get like 15 free ones. I took a few of them but didn't get much out of them honestly, except that I should spend more money.
During the 2 day seminar, they also try to get you to buy thousands of dollars of 'attorney time' so that we could make a 'personal corporation' in Nevada (even though I don't live there) and get our 'estate' in order. Thank God I didn't go for that one too, although I almost felt like I should. If these people were honest, they would give someone a chance to study this stuff, maybe a trial period for a small amount of money, to see if you really liked it and felt like it was something you could do. Like I said, I'm not a gambler and I don't like the whole thing, but now I'm $10,000 in the hole and don't want to use any of their stuff, but they don't care, they got my money.
This report was posted on Ripoff Report on 03/19/2008 08:55 PM and is a permanent record located here: http://www.ripoffreport.com/r/Better-Trades-Long-Term-Short-Term/Las-Vegas-Nevada-89121/Better-Trades-Long-Term-Short-Term-Inc-brainwashing-seminars-pushy-selling-practices-319519. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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