- Report: #1164902
Report - Rebuttal - Arbitrate
Complaint Review: Gold Money Party
Gold Money Party9302 Forest Lane F 102 Dallas, Texas USA
Gold Money Party, AKA Richard Peterson, Nadex Signals, Binary Trading, Binary Options, Trading Signals Dallas Texas
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I purchased Gold Money Party Nadex signals on June 20th 2014 after speaking to Richard Peterson on the phone. All though I felt he was a bit arrogant at the time, I went against my better judgement. My hope is to prevent you from making the same mistake.
Although Richard or as he calls himself "Mr. P" is not affiliated in any way with Nadex.com, he also really doesn't care if you win or loose your trades. He is making so much money now with his monthly membership fees that he doesn't pay attention to changes in the market that greatly effect the outcome of the daily trades.
And although I was able after 2 major bad losses to make $100 more then my initial investment. I was only able to make that within an entire month of using his signals, which is a far cry from the $500-$700 a day her claims. See real statement from his website below:
Here is a basic over view of his service:
1. You will get 4 signals each day monday through friday, whenever he deems best to send them to you.
2. "Mr. P" only trades on American markets
3. "Mr. P" only trades the same 4 American markets each day
4. "Mr. P" never takes a sell (put) position
5. "Mr. P" trades regardless of what notifications come out for the market
The reason why the majority if not all of the above not only limit, but cn hurt your ability to make money with "Gold Money Party" is because the US market isn't always good, infact the last couple of months it has been barely moving above or below the 80DX amount. This makes it very hard to truely know the outcome of a days results when the US market isn't doing a whole lot. Also not being open to trade on markets that are moving profibits your ability to make money where money can be made.
Also the trend is your friend. If the trend of a market is in a downward turn, place contracts to sell. Only wanting to buy, again puts you at a disadvantage when the market isn't in an upward trend. which means with Richard these will be your days when you loose money instead of making it. And the last point, it is crucial for any trader on any platform to be aware of the news. You are stupid if your not. The news especially when certain speakers take the floor; (like Yellen or the president) the market is getting ready to make BIG changes.
You should either not be trading or you should make sure any trades are finished at least 15min prior. "Mr. P" doesn't do this and this is where you loose BIG. That is how I lost almost my entire investment in one day. Again a so called experienced trader like himself should know better, but why should he care... his security is in the new member signups. And he is getting boat loads of them at $150 a head, per month. Last I spoke to him he had 200 subscribers and was added more each day.
I also want to add, that there is NOWHERE to cancel your subscription. This has become a problem for me. After I cancelled my subscription Richard continued to bill me. And when I tried to get in contact with him, he refused to speak to me. I have now got my bank involved and reported him to BBB. This kinda of behavior in my opinion... is uncalled for.
So my overall opinion is that this is something you shouldn't waste your money on. Richard Peterson deosn't care about your success, because he is getting so many people to signup that his financial security is in the memberships - not in the trades he does each day. Though I would not say it is a scam, I would say you won't get your moneys worth of service or the quality you deserve.
This report was posted on Ripoff Report on 07/25/2014 07:42 AM and is a permanent record located here: http://www.ripoffreport.com/r/Gold-Money-Party/Dallas-Texas-75243/Gold-Money-Party-AKA-Richard-Peterson-Nadex-Signals-Binary-Trading-Binary-Options-T-1164902. 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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