- Report: #945355
Report - Rebuttal - Arbitrate
Complaint Review: Terry D Lupton
Terry D LuptonInternet United States of America
Terry D Lupton Advertizes himself As a Day-Trading Mentor. Delivered shoddy, incomplete, mostly useless "training". Internet
His headline usually reads something like "Would $200 per day or 52k per year be nice? $150 to get started."
While he only charges $150 for (in my opinion) a worthless phone consultation that provides the same information that's free all over the Internet... you still have to spend AT LEAST $500 more to set up to implement his system. His ad never mentions that fact.
Good on the phone...
My first conversation with Terry was reassuring. He was open and friendly... and he said he had been making a comfortable living, day trading for several years. And that everyone he had mentored was "making money"... using his system.
So I paid his fee and scheduled a session. After using LogMeIn123 to take control of my computer. He then set up some bookmarks to several websites that I was to "study later".
Then he opened a program called Ninja Trader, set up with the Russell 2000 (TF 9-12) and spent a few minutes going over a few of the more common trading "set-ups", signalling good trades.
And that was it!
Nothing but the bookmarked websites was delivered in a way that would allow me to review his training later. And sad to say, I don't have total recall. after a week or two of trying to trade using his information, I decided that the problem was ME... and paid him another $150 and scheduled another session. This time with my wife listening in.
Once on HIM, twice on ME!
The second session was even less organized than the first one was. And some of the information seemed to actually contradict what I think i remembered him saying during the first session. (Again, nothing delivered in a way that i could compare the two.)
When I subsequently asked Terry to provide his information in a form that I could refer back to as needed, (an email... a webpage... anything!) he became hostile and no longer responds to my communication... either by email or phone.
Simply Inept? Or Downright Illegal?
I've been in contact with the Arizona Corporation Commission, regarding Terrys' compliance with the ARIZONA INVESTMENT MANAGEMENT ACT... primarily with respect to Mr Luptons' ads. Non of which contained the manditory "Possibility Of Loss Disclaimer" (Also required by Federal statute Section 206(4) of the Advisers Act and Rule 206.)
$300 Is Not A Lot Of Money...
But looking back, his mentoring not only proved to be worthless, but actually cost me over $1000 in losses... trying to utilize his advice. Not to mention my lost time.
The KINDEST thing I can say about Terry Lupton is that he's no teacher/mentor.
This report was posted on Ripoff Report on 09/23/2012 07:32 AM and is a permanent record located here: http://www.ripoffreport.com/r/Terry-D-Lupton/internet/Terry-D-Lupton-Advertizes-himself-As-a-Day-Trading-Mentor-Delivered-shoddy-incomplete-945355. 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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