• Report: #424372

Complaint Review: Better Trades

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  • Submitted: Sun, February 15, 2009
  • Updated: Sun, February 15, 2009

  • Reported By:Ealing Other
Better Trades
Nationwide U.S.A.

Better Trades Long-Term/Short-Term BEWARE - very high costs - stock market historical education only - NOT TRADING Nationwide

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We wasted so much money with Better Trades. We now trade successfully having been trained properly. Better Trades never taught us Risk Management, Account Management, Trade Management. We were told to use options and enter trades when option pricing was at it's maximum - BEWARE the "second day confirmation" rubbish. They have no idea how the options pricing model works. The charting tools and platform fees are ridiculous and free with other providers. The research tool was an unbelievable rip-off and it's all free on the internet. Save $thousands!!!

They also contradict themselves alot do not understand market sentiment, Commitment of Traders (that really was a joke) and here is the big one - they would not trade live at the hard right edge with real money, or even with a practice account at seminars. Why do they hold courses on weekends - because the markets are shut. The course we attended on a Friday was not live in the market. The next day was a course on a Saturday which should have been live. We seriously doubt they are real traders - the real traders we now associate with don't shout from the roof tops that they are the best in the world at doing a certain trade, yet have no understanding of risk management because it wasn't even mentioned. Go online and listen - it's unbelievable. Oh, and everything is on 'another course'. One senior instructor thought OIH was going to split at $180 - it can't split because it's an ETF! Then there are moving averages - historical pricing and when it crosses, options are already inflated through implied volatility. In other words YOU'RE TOO LATE for that trade, but not according to Better Trades.

DON'T DO THIS - SAVE YOUR MONEY

You should do your due diligence and thoroughly research other education companies - don't think you can do this without training - you will lose money. Find out which market suits you - Equities, Futures, Fixed Income, FX etc etc. If they don't trade in front of you with real money at the hard right edge - move on! This is hard work and it will test you in every way you can imagine, but if done properly, it is very rewarding.

I hope this message saves some of you from wasting your money with Better Trades. Please let me know if this is the case. If you are in any doubt, follow their system with real money and watch your account empty out in no time.

London uk
Ealing
United Kingdom

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This report was posted on Ripoff Report on 02/15/2009 12:39 PM and is a permanent record located here: http://www.ripoffreport.com/r/Better-Trades/nationwide/Better-Trades-Long-TermShort-Term-BEWARE-very-high-costs-stock-market-historical-edu-424372. 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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