Sam Seiden Goes DOWN | Forex Factory

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Sam Seiden Goes DOWN

  • #1
  • First Post: Apr 9, 2020 8:22am Apr 9, 2020 8:22am
https://www.tradingschools.org/onlin...s-its-a-fraud/


The United States Federal Trade Commission has finally exploded the Online Trading Academy.
On February 12, 2020, the FTC filed a massive 8000+ page lawsuit alleging that the Online Trading Academy ripped off thousands of consumers for a total of $370 million dollars, since at least 2014.
However, the alleged fraud is likely much larger and probably closer to $670 million dollars. According to a source that contacted TradingSchools.Org, the organization was not charged with the full amount because the statute of limitations only covered the prior 6 years.
The lawsuit filed in the Southern District of California is an absolute nightmare and essentially describes what amounts to a highly refined and well-orchestrated financial slaughterhouse where primarily elderly consumers were fleeced of their life savings.
Additionally, on February 25, the FTC was able to successfully obtain a Temporary Restraining Order and was able to freeze the personal and corporate assets of the company founders: Eyal Shachar and Sam Seiden.
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// Jim Ęgirson https://discord.gg/Dkm3demYsx
  • #2
  • Apr 9, 2020 10:24am Apr 9, 2020 10:24am
Interested to see further developments in this case.

IF It's only a civil case, so why are the feds getting involved ?
It never gets easier, you just get better
  • #3
  • Apr 9, 2020 10:25am Apr 9, 2020 10:25am
My heart bleeds for the bunch of thieving c8cksuckers.
  • #4
  • Apr 9, 2020 11:21am Apr 9, 2020 11:21am
Quoting triphop
My heart bleeds for the bunch of thieving c8cksuckers.
Did you have a bad experience ?
It never gets easier, you just get better
  • #5
  • Apr 9, 2020 11:25am Apr 9, 2020 11:25am
god no I wouldn't pay a bean for tuition from anyone. I'm just glad to see people like that get their just desserts, something very satisfying about it don't you think?
  • #6
  • Apr 9, 2020 11:27am Apr 9, 2020 11:27am
It's the hard sell that's the giveaway to being scammed.
It never gets easier, you just get better
  • #7
  • Apr 9, 2020 1:50pm Apr 9, 2020 1:50pm
Finally this scammer creator of "supply and demand" theory is gonna pay...

So many people losing their money because of this fucker
  • #8
  • Apr 9, 2020 2:02pm Apr 9, 2020 2:02pm
I looked into them years ago but their "tuition" was really high! I soon discovered that the SAME thing they were charging thousands for was available for free on many internet sources and also by taking my own time to study the markets.
  • #9
  • Apr 9, 2020 8:52pm Apr 9, 2020 8:52pm
Big surprise. Not. lol
  • #10
  • Edited 9:11pm Apr 9, 2020 8:58pm | Edited 9:11pm
I tried Sam Seiden method years ago and the result left me wondering how could anyone succeed with that way of trading. I also met someone online who told me that he was studying Supply and Demand zone trading and he almost collapsed after placing a dozen trades- all losers. Now it's all clear.

Sam Seiden is probably the biggest scammer in trading education of all time. He dwarfs anyone exposed at Forexfactory.

P.S. I don't rule out the possibility that someone could be successful trading supply/demand zone with proper money management. In that case, the edge is in money management, not in supply/demand zone.
  • #11
  • Apr 9, 2020 10:17pm Apr 9, 2020 10:17pm
glad he got his comeuppance most get away with it
people leave, but this thread will go on for ever
  • #12
  • Apr 9, 2020 11:02pm Apr 9, 2020 11:02pm
Is the lawsuit suggesting that supply and demand trading is a way of pulling the wool over someone's eye? He has not fleeced anyone of their money that he did not justify in his tuition. Supply and demand zones work like charm. I know what you are thinking and the answer is no...I did not subscribe to his tuition neither am I a supply and demand trader but I have looked extensively into it and would incorporate it into my personal trading style.
Fred
  • #13
  • Edited Apr 10, 2020 12:28am Apr 9, 2020 11:59pm | Edited Apr 10, 2020 12:28am
Quoting Chronus
Is the lawsuit suggesting that supply and demand trading is a way of pulling the wool over someone's eye? He has not fleeced anyone of their money that he did not justify in his tuition. Supply and demand zones work like charm. I know what you are thinking and the answer is no...I did not subscribe to his tuition neither am I a supply and demand trader but I have looked extensively into it and would incorporate it into my personal trading style.
Yeah that's what I have always heard... "Supply and Demand works like a charm"... Well, here is the proof it doesn't.. It was all "fuggazzi".. like the guy in the movie Wolf of Wall Street says..

There is no need to pay for the tuition.. You have plenty of threads with "gurus" in ForexFactory talking about S&D magical zones, like C-12 thread and AKT.. I have checked those some time ago, but I didn't buy it.

Now of course, this guys sell courses aswell.. But when you ask them to show some kind of proof of profitability they get offended.. and their students come up to defend their gurus who they have followed blindly without ever showing a Trade Explorer or Myfxbook with a regulated broker..

All fuggazzi...

If you are confident about this S&D zones working like a charm, I guess you wouldn't mind showing us your TE. Perhaps I am wrong about it...

GMD
  • #14
  • Apr 10, 2020 12:01am Apr 10, 2020 12:01am
"Supply demand" and "support resistance" concepts are grossly flawed.
Know what you trade
  • #15
  • Apr 10, 2020 12:09am Apr 10, 2020 12:09am
Quoting BWilliam
"Supply demand" and "support resistance" concepts are grossly flawed.
Well support and resistance ain't that bad in my eyes... You can definitely see some structure or some obvious levels where price has reacted many times.. Perhaps labeling this as S/R is wrong.. But you definitely can find prices where it looks "obvious" to trade... which doesn't necessarily mean its gonna work anyways..

Now the idea of Supply and Demand... the so famous "fresh zones".... Order flow..... What the fuck is all this supposed to mean???

All bullshit.

GMD
  • #16
  • Apr 10, 2020 12:16am Apr 10, 2020 12:16am
Quoting GMD
Well support and resistance ain't that bad in my eyes... You can definitely see some structure or some obvious levels where price has reacted many times.. Perhaps labeling this as S/R is wrong.. But you definitely can find prices where it looks "obvious" to trade... which doesn't necessarily mean its gonna work anyways.. Now the idea of Supply and Demand... the so famous "fresh zones".... Order flow..... What the fuck is all this supposed to mean??? All bullshit. GMD
The S/R label is definitely wrong.

Whoever created that S/R label conned the rest of the trading world.

Anyone indicted for scheming this con ?

Support should be renamed tradable buy level.
Resistance should be renamed tradable sell level.
Know what you trade
  • #17
  • Apr 10, 2020 12:26am Apr 10, 2020 12:26am
A few years back, a thread on BabyPips forum exposed the fraudulent practices of the academy and how the leaders were scamming the uninformed.

KP

Quoting SirOrigami
https://www.tradingschools.org/onlin...s-its-a-fraud/ The United States Federal Trade Commission has finally exploded the Online Trading Academy. On February 12, 2020, the FTC filed a massive 8000+ page lawsuit alleging that the Online Trading Academy ripped off thousands of consumers for a total of $370 million dollars, since at least 2014. However, the alleged fraud is likely much larger and probably closer to $670 million dollars. According...
Do your homework, follow the footprints of smart money
  • #18
  • Edited 12:56am Apr 10, 2020 12:45am | Edited 12:56am
Quoting GMD
{quote} Yeah that's what I have always heard... "Supply and Demand works like a charm"... Well, here is the proof it doesn't.. It was all "fuggazzi".. like the guy in Wolf of Wall Street says.. There is no need to pay for the tuition.. You have plenty of threads with "gurus" in ForexFactory talking about S&D magical zones, like C-12 thread and AKT.. I have checked those some time ago, but I didn't buy it. Now of course, this guys sell courses aswell.. But when you ask them to show some kind of proof of profitability they get offended.. and their...
Like I said, I don't trade it. I use another method of trading. Give 5 people the same tool and you will get 5 different results. There is one most encouraging and one most discouraging result among them. This is a modest estimate. In the majority of the cases, there are hardly any encouraging use of that tool. The reason is people don't want to pay the price of success. If something doesn't achieve the intended result after the first or second try then it is discarded as redundant.

The market daily displays the interplay of supply and demand. You don't need a trade explorer to verify that fact. An intersection of buy and sell orders marks the equilibrium. You wouldn't need a myfxbook account to acknowledge that fact. The problem here lies in how to recognize demand and supply zones. This is where lies the pot of gold and you don't need Sam Seiden's tuition to point you in the right direction. There are a plethora of free books that will do just that.

Have you stared at charts so long that your eyes seem to burn into them like laser? Perhaps you have but then you wouldn't have missed this fact about supply and demand laid out in plain sight on the charts. People think money is the only thing that is spent to acquire knowledge but they forget to also spend time to do that. Time is more important than money. This is one of gann's secrets. Time is more important than price. Hey, hold on, I am not a gann trader either. I happen to have picked up a significant amount of trading knowledge that has seen me grow to the maturity I have now. Knowledge both relevant and irrelevant to my trading style. I have spent a good deal of time to acquire the knowledge I possess and though I am not a supply and demand trader I wouldn't easily discount it as false. I hope you think about this before you join the crowd in condemning a guy for passing his knowledge of trading in exchange for money.
Fred
  • #19
  • Apr 10, 2020 12:49am Apr 10, 2020 12:49am
Quoting KeenPips
A few years back, a thread on BabyPips forum exposed the fraudulent practices of the academy and how the leaders were scamming the uninformed. KP {quote}
Does the "fraudulent practices" include the knowledge of trading supply and demand zones? Just asking for the sake of information.
Fred
  • #20
  • Apr 10, 2020 1:11am Apr 10, 2020 1:11am
Quoting Chronus
{quote} Like I said, I don't trade it. I use another method of trading. Give 5 people the same tool and you will get 5 different results. There is one most encouraging and one most discouraging result among them. This is a modest estimate. In the majority of the cases, there are hardly any encouraging use of that tool. The reason is people don't want to pay the price of success. If something doesn't achieve the intended result after the first or second try then it is discarded as redundant. The market daily displays the interplay of supply and demand....
Mate.. what are you talking about?? You think a Trade Explorer or Myfxbook from regulated broker is not necessary to prove profitability in an online forum???

Quoting Chronus
{quote} I hope you think about this before you join the crowd in condemning a guy for passing his knowledge of trading in exchange for money.
Sure, but if you are asking for people's money for your teaching services, at least this "knowledge" has to be backed up with some proof of profitability.... otherwise there is no "knowledge" and is just a guy talking nonesense he doesnt even understand himself, and selling it to desperate people who want to make some money to have a better life for them and their families...

For someone who doesn't trade supply and demand... you defend a lot this theory of S&D magical zones..

Does a magical S&D zone predicts something like Covid-19??? Or perhaps something like Oil war between Saudi Arabia and Russia??

Lastly, the only person I haven known with longterm (4 years) proof of profitability in this forum spends about 15 mins a week looking at charts... So, idk if time is that important...

Just my opinion.

Good luck
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