(binned per thread starter’s request) Is this guy trustworthy?

I didn't see anything that didn't ring true in his free material - but I do wonder is a retail trader can handle the work load without a team. Might be the sort of thing a small group of traders could work together on.

He is clearly not a scammer

It would be great if we had a group of traders here that have the same outlook where we could share ideas and thoughts.
Its one thing looking at a news item- but do we know if it will be picked up by traders and what will the overall result be
Quite often a news story will go into another session though
If anyone wants to share views and has a bias towards news trading drop me a message

News Trading! An emotional imprint. Do you feel Jarat aim trade with conjunction of news? Henry Liu style!

thats an excellent idea . I would look forward to it

I checked the website out for you and it seems possible to attend the 14-day course, cancel and not be charged for the next month.

I don't usually change my mind on things very often, but here I stand corrected and must change my views on { personal information deleted by staff, per request }.

Since trialling his service, and learning a little about fundamentals, I only say little purely because I am very Knowledagble in this field anyway. Of course I did not continue with my trial and was happy to recommend it to other users who know not so much.

But since then I have absoutely been bombarded and smashed with non stop spam e-mail from Jarrat and friends, even with unsubscribing it seems my email has done the rounds around all his associates. I am frankly tired with all of it, and can't get away from it, and when any company needs to spam this much then huge RED FLAGS go up. So in changing to my original statement, I would AVOID AT ALL COSTS anything that has anything to do with { personal information deleted by staff, per request }. His company are clearly in it to make profits other than forex trading itself, which of course questions their own "current" success they have in Forex. Every week Jarratt and co seem to have some sort of new service, even a facebook service, they are starting to look really desperate more than anything now.

AVOID!!

Hi,
did you guys read this article that has very serious claims against Jarratt and forexpeacearmy
http://www.fpaexposed.com/
I would like to know what you think

Look at this, even with unsubscribing I am absolutely bombarded with scam from this guy and accomplices. I highly warn and suggest to stay away with anything with this guys name on it.

I subscribed to { personal information deleted by staff, per request } for just over 2 years (Nov 2014 thru Apr 2017). Although I don't use many of { personal information deleted by staff, per request } preferred techniques (like trading into and out of high impact news) I nonetheless gained some uniquely helpful insights into FA, and the thought processes of an institutional trader; hence I believe I received good value for my money. However, I recently cancelled my annual membership, largely because services that were being offered originally are no longer available:

 Daily pre-London and pre-New York session webinars, where members previously had the opportunity for Q&A with { personal information deleted by staff, per request } himself. Later they had some of his associates and top students running the webinars, but I found { personal information deleted by staff, per request } analysis to be more relevant and helpful. Eventually the webinars were discontinued altogether. (I'm not sure, but I think Chris Mathis is now running his own webinars, as a separate enterprise -- perhaps somebody could confirm this?)

 The RANsquawk news feed, which was previously included in the membership fee. Now this must be purchased separately and directly from RANsquawk.

 The chat room, where members could ask experienced analysts questions throughout the day, was discontinued.

While the course material has been enhanced somewhat, I don't believe that the day-to-day service being offered is as valuable as it was when I first signed up.

Like deankenny21, I have received a lot of promotional e-mail from { personal information deleted by staff, per request }. I believe that much of it is auto-generated, as (for example) I was getting e-mails asking me to sign up when I was already a paid-up member!! I believe that { personal information deleted by staff, per request } admin personnel could, and should, manage this better. I agree that it can easily give a "red flag" impression.

As a trader, { personal information deleted by staff, per request }was definitely ranked #2 in the world by the Barclay Hedge Index. If anybody doubts this, they can easily register at BHI (https://www.barclayhedge.com) and check the awards for CTAs in 2012 and 2013 for themselves. I have no doubt that he was successful, during the days when he operated as a trader. To be fair, I'm not sure exactly what he is doing now. (BTW, the accusation here (http://www.fpaexposed.com/#jarratt) that he steals his signals from a Chinese trader is complete nonsense. During the webinars, I and his students got to see the rationale behind his trading decisions, they were based on his own FA, and use of levels where prior buying/selling had occurred. It was all his own decision making. The article also states that { personal information deleted by staff, per request }"stole" his track record, but then provides neither explanation nor evidence. The whole article lacks credibility IMO, it makes wild accusations against anybody loosely associated with Forex Peace Army, and without any supporting evidence).


On the topic of scams: IMHO many folk have no real idea of what they can reasonably expect from FX education. Absolutely nothing is guaranteed in forex. All systems are designed to exploit certain market conditions and patterns, and as such have their individual strengths and weaknesses. For example, a system that is designed to profit from a trending market will lose if price moves sideways for long enough, and vice versa. Systems that require volatility to profit will underperform whenever conditions are too flat. Systems that have worked spectacularly for several months, even years, can suddenly fail (read this (http://grailtrading.blogspot.co.nz/)). Edges that worked profitably in yesteryear can gradually erode as market behavior continuously evolves due to (for example) changing belief systems, economic shifts, and advancing technology; and traders who are unable to adapt accordingly will eventually find themselves caught. So.....

if a definition of a "scam" is a method or technique that can't be guaranteed to deliver consistent profits forever, then EVERYTHING IS POTENTIALLY A SCAM.

Having said that, some sources and types of information are better than others. Some edges that are grounded in more robust concepts have a better chance of long term survival. I believe that many of these are fundamentally based. For example, central banks still use the same tools (e.g. interest rates, QE) to help manage inflation. Governments and CBs will attempt to keep exchange rates within balanced ranges that facilitate business for their nation's importers and exporters. During periods of perceived 'risk off', money will flow to safe haven currencies. And so on. As the saying goes, TA explains HOW price behaves, FA explains many of the reasons WHY. And I believe the WHY determines the HOW, not the other way around.

[EDIT] Footnote: FWIW here (https://www.forexfactory.com/showthread.php?p=8849292#post8849292) here (https://www.forexfactory.com/showthread.php?p=7660151#post7660151) and here (http://www.forexfactory.com/showthread.php?p=172196#post172196) are some other posts that I wrote about educators, a long time ago. I still stand by the comments that I made.

Thanks for your thoughts and of course I'm not questioning your insight but I'm curious if you've known of a system that has worked spectacularly for several months or years, and then observed it to suddenly fail?

It seems to me that if a system is currently seeming to be robust to various market behaviors, it would at least put up a fight and not suddenly and completely fail.

Read this (http://grailtrading.blogspot.co.nz/) -- the authors sound like they are savvy, experienced traders. I suspect that there are plenty of other systems that have imploded likewise.

After doing some research and taking the course , i can agree with hanover that { personal information deleted by staff, per request } is legit .I know quite a few of his students who are profitable and do manage accounts .

I bought and read Soultrader's book ("The Holy Grail Trading System").. here's my review on Amazon:

"the author states at the beginning that the book is comprised of his years-long entries from his Grail blog, but also includes "behind the scene" explanations not present in the original blog posts. The behind-the scene explanations gives the reader insight into what the Grail development team was thinking during the year that the Grail was traded live. Importantly, the book ends with a detailed review of what went wrong with the Grail system and why. This is not a "how to" book on trading or detailed system development, but rather an intimate look into the pitfalls of system development and back-testing. Good book to keep as a reference when developing a trading system."

Best,

Dave

Thanks Dave. I never got around to buying the book, even though I found the blog a fascinating read. From what I read, it was a simple trend following system that, after 40 months of profit, imploded when the market moved sideways for 4 months. I found it interesting that soultrader blamed unforeseeable shortcomings in his test data ("The lesson here and my message to you is that no matter how much you test, no matter how far you go back there will always be a market condition that your test does not have.").

However, to lose 40 months' worth of profit in 4 months suggests that either they traded 10 times as many orders during those 4 months (overtrading), or the average order was 10 times the normal position size (overleveraging), which for me suggests inconsistent risk management. Possibly the latter as he also says "the bigger the drawdown the better the system works - thats because of a very clever money management strategy which i cannot reveal."

So how do you recover more quickly from drawdown, apart from increasing position size? Hence I suspect it was this "clever MM strategy" that helped to do them in. A good lesson for all aspiring traders: size consistently, or run the risk that a few big losses will wipe out many smaller wins.

As for what I know, some years back, I used his services on my Broker FreshForex, at that time it was okay, I made considerable profits and is still making. Though Nowadays I don't follow him directly, I sometimes use some of the things I learnt from him.

Did anyone ever put this in place? I would be interested as well.

Hello, hanover.

Tell me, please, when those 4 months of no move in the market took place?

I find it truly astounding that anyone would call legit a so-called "trader" that claims to provide valuable education to retail clients and yet that cannot provide the slightest hint of any third-party audited track-record. That a hedge-fund cannot provide their track-record to the retail world is a regulatory issue and I understand that. But that someone claiming to mentor retail clients cannot provide any proof of his performance through a simple Myfxbook tracking is a lame excuse and downright ridiculous.

Instead, what you get as "proof" are the usual BS testimonials and bold claims. I could only put my hands on the Myfxbook of one of his students and the MAR ratio was so poor it made me scream. I defy ANYONE in this thread claiming that { personal information deleted by staff, per request } provided them with valuable education to show a consistent Myfxbook track-record to substantiate their claims. The truth is that this whole thing smells like nothing more than yet another scam from some unproven guy teaching non-testable trading concepts to the gullible.

It is beyond me how such an obvious load of crap can still fly.