Sunday, 14 February 2010

LEGAL ACTION PENDING : SCHOOLOFTRADE.COM

I am compiling a register of ex-members seeking compensation from schooloftrade.com for financial losses, loss of earnings, time & expense, general hardship and mental suffering endured at the hands of the schooloftrade.com.

If you are an ex-member seeking to get your lost money back from schooloftrade.com please send me your contact details and any information about your exeperiences with the schooloftrade.com.

best regards
Lloyd Hopkins

63 comments:

  1. This comment has been removed by the author.

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  2. I’m sure this will be removed by the author, but in case it’s not...
    This is Joseph James…the person Mr. Hopkins is calling a LIAR.
    Lloyd Hopkins was a client with the schooloftrade.com for less than 30 days.
    As I’m sure many of my successful members will agree, it will take more than 90 days to be profitable with our methods in some cases.
    Mr. Hopkins did not ask for help.
    Mr. Hopkins did not ask for support.
    He never attended more than 1 training
    Instead...he decides to post this.
    He threatens to sue me…and he tries to tear down the years of hard work my family has committed to this business.
    I would have gladly worked with him if he would have ASKED me….just ask any member who has asked for help in the past…its always easy to get help.
    We dedicate thousands of hours every week to working with our clients.
    We’ve also posted some of their reviews here to show you a 2-sided conversation 
    http://700bucksaday.blogspot.com/2010/02/schooloftradecom-review.html
    Why would anyone call our service a SCAM?
    Certainly they have not spent much TIME with us?
    Can thousands of clients be that wrong?
    I would encourage ANYONE to come join us in our live trade room, and you will certainly see for yourself.
    You can see us every day @ 745am EST, and here’s HOW:
    http://www.youtube.com/watch?v=c1oFPBeIFfA
    And our daily LIVE results are posted each day in our BLOG:
    http://schooloftrade.com/blog
    Thank you for listening to my side of the story today 
    I look forward to seeing you all in the room!
    Joseph James

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    Replies
    1. Note Joseph that your remarks were not removed. This in in accordance with professional and unbiased contribution. You remove posts and threads from your site that do not sell you and that are not advantageous to you. Mr. Hopkins, in leaving this here because he has nothing to hide. Anything that is unbefitting to you and promoting SofT is removed from your site. You only want posts that help you sell your garbage. That is called propaganda and any reader should beware.

      Delete
    2. This guy has made me thousands of dollars.

      Delete
  3. Readers, if you would like to discover the truth about JJ kindly check out the full background to this story here :

    http://www.trade2win.com/boards/day-trading-scalping/88014-schooloftrade-james-wave-11.html

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  4. Give me a break. The TOS on this dudes site is pretty straightforward. Next thing, you will be suing the "market" for your failings.
    Move on.

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  5. Anonymous,

    First of all the TOS on this site is illegal and will not stand in a court of law. Second, JJ misrepresents his products and services by lying constantly in his "LIVE TRADE ROOM". JJ deceives people into believing he trades on a live account and that they can earn a fantastic living from his trading system. Clearly JJ is a fraud and obviously no one would ever join his course if it were not for his lies and deceitful practices. Let's be perfectly clear , JJ trades in SIM and his system is rubbish, it would not make a cent in the real world.

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  6. The TOS is illegal? In what sense?

    It is clear that the trades are SIM....it is written. You agreed to what the TOS says...and signed up.

    What he says in his room? Produce what he says in the room. You are going to need it in your legal action to back your claim.

    The bottom line is..you signed up. You failed. Are you successful trading any system? If so, you are going to have to produce the proof that you are.

    Perhaps you are just not cut out to trade. I applaud you for standing up for what you think is right. I shake my head at ignoring the TOS and blaming James for you failings.

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  7. LOL, so now we can assume that these anonymous comments come from JJ himself or one of his minions'!

    I have all the proof I need, including evidence that JJ tells his clients his trades a LIVE account when he clearly does not (his own small print even confirms this for us!). This is pure evidence of deceit and misrepresentation of his product and service.

    I signed up yes, I did not fail, I am trading very successfully indeed these days thank you very much.

    I took JJ at his word and found out the truth later, he conned me and I will make sure he pays for that, he will not get away with cheating people out of their money forever.

    The failed trader is obviously JJ, he invented this bunch of crap system out of the rubble of what I assume to be his failed attempt to trade the futures markets.

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  8. No sir. This is not JJ nor a minion. I trialed his room months ago and decided not to continue. Not everyone who will comment has to be associated with this guy. Some of us just get tired of hearing traders ramble on and on when they don't cut it.

    Now, if he says he trades a live account and does not, that in itself is meaningless. Perhaps he trades a live account outside the room he has. Perhaps he traded a live account when he said he traded a live account. I didn't find the print small at all. It didn't appear to have been made small to hide it.

    I am glad you are trading very well these days. Not many traders can go from losing to turning it 180 degrees in such short order. I'm sure JJ will ask for your results if this ever gets to court.

    Crap system? Are you daft? There is zero wrong with a breakout/pullback type strategy using a momentum type indicator to measure speed of the market. It actually falls directly in line with the way the market moves. Now, perhaps tight stops and small profits are a concern but regardless, the technique is valid.

    Anyhow. Good luck with your legal action. Although it is wasted energy and I am sure you have more important things to deal with.

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  9. Anonymous,

    If you really are completely independent of schooloftrade.com then firstly I have to say I find your positioning quite remarkable. Second, why not provide us with some verifiable contact details instead of using anonymous.

    Let's consider a few facts, JJ has been proven to be a liar there is plenty of evidence out there to support this. JJ was caught red handed pretending to be a satisfied client leaving positive comments on a forum thread, not too dissimilar to your own. JJ foolishly tried to maintain on a public forum that he trades live when as you have correctly pointed out his own TOS clearly states it is SIM trading.

    If you really did trial his room as you say you have you would have witnessed the many questions which get put to JJ asking if he trades in SIM mode or with a LIVE account in his live trade room. JJ constantly maintains he trades and live account in the room, when ask to show proof he never has.

    Do you think JJ would get many people joining his advanced course if it was called the SIMULATED TRADE ROOM? (which it clearly should be)

    So the question now is with so much clear evidence exposing this system and JJ as a fraud what is your motivation to attempt to defend JJ and his system, are you daft?

    I thing it is clear JJ trades SIM as the TOS and everything else confirms, then in my opinion this system is a load of crap otherwise he would trade it live and keep it to himself.

    We all know a trading system that produces good consistent good results is worth a lot of money to the owner.

    JJ attempts to make his living scamming people by selling them a training course for a system that does not work in LIVE.

    I did not go from losing to turn 180 degrees, JJ system was the loser not me.

    JJ harms people everyday, if you are keen on defending him I believe you should reveal yourself so all the readers can contact you directly.

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    Replies
    1. You sound like a soar loser. Why blame this guy for your mistakes?

      Delete
  10. Please Beware. The results you see in the trade room can be deceiving, as you only see what he wants you to see -as you are not permitted to see the actual order entry screen 100% of time on trade room screen from the beginning (very important). Here's why- Watch how many times he retracts verbally "called out" trade entries on a setup but only when it quickly reverses on him , but how can you prove he did not in fact really take it behind the scenes for a loss -because- he does need to show the order screen if it does not work in his favor - He only shows it after it moves his way to target , then the trade management chart comes out to the room, with a entry point that always seem to be back many ticks. In fact, not seeing the order entry chart on the trade room screen 100% of the time also could mean that he is already in all these trades way early behind the scenes (hence the better entry points and potentially the reason why some members claim to have trouble matching the results in real world trading), but only says "short" or "long" when it already is mostly to target, then showing the order entry screen last. Watch for this potential slight of hand closely during any free trial (as I did) - as it can be considerable -as they could be just counting the winners (whether sim or not, doesnt matter so much) and not counting the losers-as you never get to see them as they remain behind the scenes -he just claims not to have taken or "missed" those.

    Due to this potential problem(its not proven that its actually happening, just a potential) If I were to consider ever joining, I would REQUIRE to see the Ninja Trader trade detail reports for the date ranges in question , which is simple and quick to run- easier in fact then the manually inputed, time consuming data entry into a spreadsheet being used as the room selling point. So beware people, protect yourself and ask for this type of Ninja Trader generated trade detail report ONLY (not the manually entered spreadsheet) and be completely satisfied that what is being claimed by the room is actually done in reality behind the scenes in Ninja Trader, before parting with your hard earned money.

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  11. wow, i was seriously considering signing up as member, this makes me think twice now. I am on a quest to search for a good legit live trade room, I guess my quest continues....aarrrgghhh....

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  12. ABOTHER RIPOFF TRADING CHATROOM-LOL

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  13. Lloyd,

    I am sure that you are not at fault. Thank you for posting as I was about to pay for this guy's course. I have since done a lot of research, and have come to a conclusion that this guy uses a ups mailing address, and I am unsure of where the company United Business Services is incorporated. This man whose name I don't think is real is a little madoff, and should be stopped. What is your email? I can suggest a few helpful tips that would really help your situation, and put this guys under so much pressure that he would have to stop cheating others. Remember if he is real he would show actual trades with a real account. Something he will never do because he is a liar.

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  14. I attended the free trial and feel this guy can't be trusted. I did not join thank god, and I can make life very difficult for the school of crap. All of his concepts such as ATR, swing setups, wave pattern. A wave pattern is simply buying a pullback to a moving average. His indicators are not his. The are common and are found everywhere. I don't think he will be around for long. He does give a lot of content which is good, but the content is really bad. So it really isn't

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  15. Crush this guy as i think he has conned thousands of people, as he himself said he has thousands of members. Small con job on a big scale. Millions taken from the public.

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  16. Is this the guy that sells this $597 graphical
    indicator - blue triangles? His phone # is 614-738-5506 and a partial email is eman_jay@yahoo.com?

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  17. i have been looking at SOT for a while and did the 2 week free trial. i was enticed by numerous emails from SOT everday talking about the high # of pips/ticks made that day. when i was doing the trial i also noticed that when jj had an entry i could never find that same entry and he mainly scalps the trades are over before i even could get in. thanks for all the posts and warnings. im glad i didnt spend $3k on this system. beware of any system\trade room that doesnt offer a money-back guaranty.

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  18. itdoesn'tmatter26 October 2010 at 10:43

    As a professional trader and moderator, I will simply say this. Most traders look for a "Holy Grail" rather than truly learning what it takes to be a trader in the markets. The market is designed to take any system or indicator and destroy it. Learn to read price structure, volume, and price action and then manage your money. Sadly most losing traders never find the secret that lies between their ears...I am not a member here, actually a competitor but I see whiners everyday and they all have the same MO! Blame others instead of the person in the mirror. I don't know you JJ and I really don't care to get into banter but I really find this action appalling. Take some responsibility people..learn to trade or get out of the game.

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  19. Too funny, we have it all before "it doesn'tmatter". You are rightly worried as a competitor to see your peer JJ hung out to dry and could it be that you are starting to worry about your own situation? As this case unfolds and legal proceedings commence JJ definitely has trouble coming his was so be sure to keep watching this space!

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  20. and just to follow up, JJ has now openly admitted on his own website to the case in point presented against him. No need to look in the mirror, I was right with all my allegations and JJ has admitted to the world in writing, end of story. So be careful people JJ is not alone out there. Please present us with the name of your professional organisation "itdoesn'tmatter", just for the record!

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  21. itdoesn't matter26 October 2010 at 16:47

    I do this for free "L"...I just always laugh when I see losing traders blame others because they cannot grasp whatever concept is being taught or that they believe that ANY system will save them from themselves. It simply is not true. Look around. Trading accounts litter the ground with loss because only 10% of traders take more money out of their accounts than they put in. It is an absolute fact that the majority of the traders in the world lack the mental discipline to execute ANY trading system and therefore cannot lay blame at the feet of anyone but themselves. You "L" I fear are one of those traders I don't know JJ "for the record" and would certainly not subject my "free" site to the scrutiny of people whose heart is in the wrong place. I teach from my heart and give freely of my knowledge. It is "lawsuit happy" people like you that keep most real professional traders out of the mix in education. You litter chatrooms with blame and excuses and ass-clown trade calls. Shame on you and everyone like you. I will make this bet. I will find an independent arbiter to examine my results and yours for whatever time period you want covering whatever 1 year or greater period and have them published on this site. If I win...you drop your lawsuit and go back to your station at the local pub. If you win...I will shut down my room and quit trading. Shit...I will even let you take a picture of me kissing your butt. Put up or go away. Here is to betting "L" is one of the ass-clowns littering trade rooms.

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  22. itdoesnt'matter, I don't pretend to have any trading profit, so why are you talking about comparing my results against yours?

    Go get an independent arbiter to compare JJs results with the ones he publishes on a daily basis, that would be a worthwhile exercise.

    Perhaps , if you took the time to review the evidence before jumping in a shouting your mouth off you would realise that JJs publicised results are false. Why do you think he never shows his trading DOM when entering his trades? Why is he unable to produce and real evidence of his trading history like a broker statement or even a Ninja Trader account performance report? Perhaps because he hides some losing trades and does not have any real live trades in his broker account statement to show. Instead all he can offer is his silly little cook book excel spreadsheet.

    If you offer a free trading room that is legitimate good luck to you but I fail to see your motivation for jumping in here and making a fool of yourself when my case against JJ & SOT is now proven beyond doubt.

    I don't litter chat rooms with excuses, I have created 2 forum threads that offer nothing but hard evidence to back up my claims and warn others about SOT. My aim is to make sure SOT & JJ are brought to justice and others don't get defrauded like I was.

    No I am not an ass-clown littering trade rooms, SOT is the only trade room I ever visited in my life. As always you look stupid with your aggressive words and claims that are already being proven false and we only just got started. I suggest you reveal your true identity to us now you have decided to start bad mouthing me with threats and name calling.

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  23. one last point for you 'itdoesn'tmatter'

    Please enlighten me, what possible reason would you have for wanting me to drop my lawsuit against SOT?

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  24. itdoesn'tmatter27 October 2010 at 09:07

    None....I just know your kind. I really don't care about JJ...I just know that crappy lawsuits clog the system...If you don't like his system then there are better ways to deal with it. You will spend your life chasing money that you will likely never get back...I took the time to read thru all of the disclosures...you read them and signed up of your own free will...if the dude sucks he covered his ass in the paperwork. Maybe its buyer beware....I still stand by my offer and your comments well above here saying your were "trading very successfully now"...so which is it? Are you a successful trader or not? You lie on your own freaking blog and expect others to jump on your bandwagon. I don't care if you drop the suit but you are a proven liar and ass clown now. Good Luck with your "trading" hehe

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  25. itdoesn'tmatter,

    I don't lie and you have proven nothing. At the time of writing the comments you refer to I was seeing some healthy success shorting the Euro (during its crisis period). Unlike JJ I have brokers statements to back up my results. Truth is the success did not last and I am not a trader and I don't trade now, hence my comments regarding having no trading profits to compare with you.

    I joined SOT thinking I was going to learn trading secrets and become a part time trader, I was a fool and SOT & JJ turned out to be frauds.

    Now, if you insist of bad mouthing me with this ass clown rant then stop hiding behind an anonymous alias and show us your true identity. I am quite sure we will soon learn some home truths about you if you are going to show your face and let everyone see who you really are.

    I don't need any good luck because I am not trading. As mentioned before I have a successful company and am concentrating on a global expansion program right now.

    I have no vested interests in trading period, I make my money elsewhere, unlike you.

    I do have a vested interest in ensuring those con artists at SOT are brought to justice.

    I don't want to clutter this blog with unrelated junk about anyone else's trading results. This blog has been created to warn others about SOT and hopefully stop them losing their money to them like I did.

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  26. itdoesn't matter27 October 2010 at 17:31

    Excellent....just as I suspected. Trying to become a trader and expecting immediate results from ANY course without years of study and sweat on your part is not only foolhardy but extremely misguided. You got what you deserved. Good Luck with that other business. I mean that sincerely. I won't litter your blog again. My point is made. Fraud in this case works both ways....the Fraud you say JJ perpetrated on you and the Fraud of litigation and hate you spread about him. You should have asked him personally for his assistance before beginning the assault. You are the definition of a coward Mr. L. Night Night.

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  27. This comment has been removed by the author.

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  28. I'm glad you chose to use the word "coward" considering you still continue to hide behind and alias and not reveal your true identity. I suspect you know deep down you are in fact the definition not me.No doubt you hide your identity because you are in some way affiliated to SOT or have some vested interest in having this case abated. I'm afraid your lame attempt to divert the heat from SOT with your wise ass little rantings about how I did not try hard enough are futile.

    Let's look at it this way. JJ tells us he has been a "professional trader" for over 10 years and spends all day , every day trading and developing his James Wave trading system and techniques(is that trying hard enough for you "itdoesn'tmatter"?). So, who is best placed to trade this system and use as a benchmark for its results? It's certainly not me or any other member for that matter, it is JJ himself of course. Yes, and JJ does exactly that, or so he would have us believe. He went to great efforts to publicise the amazing profits he made every day in his live trade room. All the time insisting he trades using a live trading account with real money. Leading by example, showing his students the way its done by the professional.

    NOW THE REALITY. JJ & SOT WERE LYING AND THE PUBLICISED RESULTS WERE FAKE. (Readers) All the info can be found on post #176 here http://www.trade2win.com/boards/day-trading-scalping/88014-schooloftrade-james-wave-22.html#post1298060

    This blog has nothing to do with how hard I tried to be a trader, what are my trading results or anybody else's for that matter. It is about SOT perpetrating FRAUD. Whether my results were good, bad or indifferent is irrelevant. Even JJ himself cannot make real money using his systems so what chance does anybody else have.

    Fraud does not work both ways, you talk utter nonsense. They only fraud here is JJ & SOT and that is now proven.

    "you should have asked him for assistance", LOL. He is a proven liar and fraud what possible assistance could he have given me other than taking my money by deceit.During the 3 months period I worked with SOT I found out the truth about them. Had it been the case that SOT were not a FRAUD things would have turned out differently.

    I take it from the timings of your posts you are based somewhere on the west coast, California perhaps? The only point you have made is that you are not prepared to reveal your identity and as such it may as well be JJ himself typing all the nonsense you have chosen to litter this blog with. Be on your way loud mouth, you have added nothing useful here and I think you should go take a long hard look in the mirror yourself!

    p.s itdoesn'tmatter, I agree with you on one thing only. Anything worth while takes time, effort and a lot of hard work to do right, this is my nature and why I am so successful in my professional career.

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  29. Aaron K, I apologise it appears I may have missed your post back in June. Thanks for your comments and support, my email address is lloyd.hopkins@interlinksoftware.com. Again sorry for not responding earlier.
    best regards
    Lloyd

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  30. The loser pretending to be a trader is in fact J hiding under another name.
    No one who actually makes a living trading would take this much time to talk this much smack about another new trader. Why? its the hardest thing any one has ever done in there life, I can bet anyone on this point. Sure many make money buying any stock in a bull market, but enter daytrading. Without years of effort you wont make it, and even then you still have a 99% chance of failing. Took me five years just to make steady profits. And its a battle every day. So for a person to say this garbage then its obvious that its not true. One thing I have learned from from trading friends over the years is to be humble. I dont know anyone who has not blown out there account, me 4 times at least. (over levered, emotions etc) Trade management have stopped this but it was hard and took me years to get. Good luck L, sorry my friend all trading rooms are bull sh.., Ask yourself this my friend if you had a winning system would you sell it or trade it? If its a winner then you can make millions, but if your like J and the rest you cant trade to save your life so you write a book or create some trading room. If you want to make a living as a doctor its what 8 years or so before your a real doctor. You think this is differant?

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  31. Andrew, everything you say makes sense. I ran into JJ & SOT after I developed an interest in using Ninja Trader to build an automated trading program. I have worked in IT for 24 years now and own a software company.

    Bad mistake on my part, but I was drawn in to the idea that JJ & SOT had built up a good system and why should I re-invent the wheel, very naive and stupid of me!

    It's so easy to see now but at the time I was not thinking straight and allowed myself to get involved with this nonsense. I have to say I am still amazed at myself to this day for being caught out! wow.

    Anyway, mistake made and lesson learned but I do not accept that JJ & SOT should be allowed to prey on the innocent and blatantly defraud people like they do, which is of course the reason for this blog. Thanks for your contribution.

    best regards, Lloyd

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  32. I had been member for schooloftrade for 10 months before JJ kicked me out from his trading room as well as advance level course for asking honesty from him. I started suspecting him couple months ago, but i did not want to confront him directly at that time hoping that he would change, oh well it never happened. I sent him email on 03/24/2011 telling him a story about another trading room that got busted using SIM account to trade (well at least that traderoom was honest by showing DOM when taking trades). I was hoping that he would learn from that accident and change to be more honest. He did not change then I sent him another emails telling him about my opinion that he is not honest, but he never addressed that. I was observing him few days afterwards, nothing change from him.





    One day he called for a fastrack short, he put the entry, target and stop loss on the screen as well, after the price hit the entry price, then the price was up and down, kind off stalled, then he said to the room, for whoever took it, you can get out (few tick losses) if you don't feel comfortable. It turned out to be a loss trade. Then he called another short trade afterwards and it was a win. I was waiting for him to acknowledge the earlier lost but he never did. I was very dissapointed at him and then i asked him about that earlier trade call. You know what he said? you guess it right. He said it was a skipped trade since it was a high risk. I confronted him directly, then he booted me out. I paid a lifetime membership and he took my access to his trading room and advance level, for asking honesty and transparency. You all be the judge.

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  33. After that accident i convinced him to be more honest and transparent, and i would be happy to join him again. He said he does not trust me anymore. He is afraid that i would ruin his hard work like everybody else here. What's an excuse. I told him whatever complains people wrote here are not groundless since i witnessed it with my own eyes and ears. I told him if he is honest there is nothing to worry about. I clearly told him that if he is running an honest business and he caught me ruining his hard work, please feel free to prosecute me to the fullest extent of the law, but before he caught me doing harmful to him, i want him to give me back my access to the trading room as well as advance level course, otherwise refund my money. He refused to give me back the access nor my money. You all be the judge.



    I want to recap my opinion about him:



    PROS: - JJ has a possitive attitude (at least that what he shows during the trading time)

    - JJ is funny sometimes

    - JJ is knowledgeable and he produces daily video to learn.

    - JJ is very smart and creative





    CONS: - JJ is not honest. Period.







    If you are a current member or somebody using his 3 weeks trial please do these below:



    - Please DO ask him if he is using a SIM account or real money account. If he says he is using real account, please ask him to proof it



    - When he calls a trade, watch very carefully when when the big order shows up. When you see his entry price does not match with the big or oder, please ask him why.



    - Ask him to be more transparent by showing his DOM when taking trades. FYI for you who don't know yet, JJ Only shows his chart trader if he hit first target already (well sometimes he showed that he had 6 ticks full stops, but it is rare)



    - Ask him if he is willing to manage your account if he is as profitable as his claims. I personally asked him couple times to manage my account given that he is very profitable. I told him that i am willing to share 30% profit. 30% is much higher that big hedge fund charges (usually big hedge fund charge 20%). He never answered to me regarding this. If he is truly profitable, wouldn't 30% profit sharing without bearing the loss, is a very good side income for him? You all be the judge.







    Last but not least, what i wrote here is totally my true experience and observation about him. I hope people will not loose a lot of real hard earned money like I did.

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  34. The School of Trade is a scam! JJ is not truthful! He says, “Getting long the crude here!” Snot from a horny monkey’s ass! He is hitting his first breakeven target on his simulated account. He usually won’t say he is getting into a trade unless his trade is already protected by hitting his first target. He uses the concept of big sellers and buyers to get in… he says he sees them in the tape and is waiting on them…if you are watching the tape they come by fast….they are there, but he is already in before they show up…what a liar! Fraud! Blaahhhhh!! Makes me sick to how he has lied and lied and lied and all this time I was gullible enough to believe him. I kept thinking that he is just a lot better then me and eventually I would get that good.

    I spent three months of my life learning his method with the belief that if he can do it, then I could do it. I spent a lot of time looking for a successful mentor. Found one, followed him…then found out that he is a fake! He is not making money like he proposes…via the trades in his excel spreadsheet! Dude if you have a loss, you need to post that as well otherwise your cute little spreadsheets are really spreadshits!

    I have made millions of dollars in the past by finding mentors who have showed me their mindsets, that is what is important…the belief that you can trade successfully, 90% of successful trading is belief in yourself and that what you doing has an edge! JJ took the values of finding a mentor I can believe in and killed it. I honestly feel like I invited JJ into my home and he raped me! I know that it is harsh, but he portrayed something he is not, he lied to do it and used snake oil to get me to believe in him. He can’t trade! If he could he would! I don’t care about the technique he taught me, I paid to get mindset and believe in someone… his mindset is not real nor is he!

    He is an excellent teacher and fantastic public speaker. It is a shame that he has no morals, ethics or values! I don’t’ care if in the fine print, JJ admits that he is trading on a simulator (http://www.schooloftrade.com/terms.php). I didn’t see that until yesterday…..Is that my fault…yes and no…sure I should have read the fine print, but I chose to believe his highly polished, motivating You Tube videos which promote that he is trading a live account, highly contradictory to the fine print. JJ, this is illegal, you are not allowed to have contradictory marketing practices. You will face jail time for this. How can you sleep at night JJ knowing that you are lying to people? I really want to know what you say to yourself to make you think you shouldn’t be roommates with Bernie Madeoff!

    He deserves to spend time behind bars. I don’t care about the money I spent on the course, that is a drop in the bucket, but the three months of my life that he stole from me I can’t get back and that is very upsetting. The worst part is everyday JJ is continuing to steal peoples’ time with lies.

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  35. Well described by previous writer. If JJ is ever brought to account then damages should recognise more than just the financial. But will he ever really be brought to account?

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  36. Agree 100%, 100 yrs ago he would have been selling an elixir that cures all the things that ail ya.

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  37. I believe you guys are going about this the wrong way. I am not an attorney so take this for what it's worth. JJ has his disclaimers. Any pursuit that takes aim at his trading and trading results is, imho, going to be a moot point. Where JJ is most vulnerable and susceptible to repercussions is in his false claims. His false claims would include statements such as when asked if he trades Live and he replies, "Yes." Of course the problem with that is if he takes one trade Live and 10,000 (for example) in SIM, does he trade Live? In principle no but technically yes. Other false statements could include things he says on his daily recap- that he pulled "$1500 USD" (for example) out of the markets. Last I knew Simulated money is not United States Dollars. United States Dollars are real spendable cash- Simulated dollars are not. That is a false representation amd distortion of the truth. I purchased his course because of statements like these. That he was willing to put his own money on the line for his methodology was very important to me. Now that that is in question and therefore his results are in question (he makes SIM dollars and not USD) I believe that he distorts and manipulates what a prudent (and that is the legal jargon meaning a person of average intelligence) person would understand by his claims and the answers and words that he uses and that is what constitutes fraud. If you focus on trades and trading results (either his or yours) I think you will lose your case. Focus on his daily recaps. Those are public. Any recordings of what he says in his room will probably not be allowed as evidence. Go to the public domain like YouTube. Go to the forums that question whether he trades live to lend credence that there is a suspicion he trades in SIM validating that at some point he told prospective buyers of his course that he trades live. I think that public forums will be the best way to pursue him.
    Keep in mind that what you are against here is an educator, and a good one at that. You need to distinguish between his methodology and his information. His methodology sucks. It is a losing method. The information he presents as an educator is a different animal completely. He is a good educator. His trading principles are sound. Anyone who talks about patience and discipline and money management and other key trading principles knows and understands that trading is more about mental, emotional and pschological, as he does, knows and understands trading. Even if his method sucks, and it does, many of his proponents may be benefitting from his education of these other aspects of trading.

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  38. Clue lies in his videos. When his pattern fails he does not tell how he came out of that losing trade.He says nothing about money management. How does he exit trades in order to profit. What is his exit stratgey?

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  39. signed up for free 2 week trial and made over 4,000$ following his trades ,. so what u guys are listening to is some guy that got mad he lost money , and if he uses a simulator , so what , as long as the members are making money on his calls , what does it matter , he might not have the time to run the room , chat, and everthing involved plus trade down to the second, so he might use the sim instead, but his calls are live and real and on the money . i just paid for advance membership and there are over thousand members that have made tons of money , so go get a life and stick to your day job , trading is not for the weak !!!! ie U

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    1. benrock, it matters a great deal if you trade SIM. You are obviously not a trader otherwise you would already know this. No doubt you made $4000 SIM dollars not real ones. So if you really did pay for an advanced membership you have just wasted your money and have made a stupid mistake.

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    2. benrock, one other point, you said "there are over a thousand members that have made tons of money", this sounds like JJ talk to me or are you just repeating his sales pitch? If SOT has taken money from over 1000 individuals they have defrauded a lot of money, somewhere in the region of over $300K (making a rough calculation). Question is how will they pay it all back?

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    3. L I'm starting to see why you lost money - 1000 individuals paying 4K each is in the region of $4,000000.00 not the 300k you mention.

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    4. Kvin, I was working of $3K membership at the time but you are correct, it was a typo and that should read $3M or $3000K. Either way you are talking about serious fraud, this guy is playing high stakes and when they catch him he will be in big trouble

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  40. What is the situation of the lawsuit? Been over 12 months of talk and I have yet to see any progress? Can you give us an update?

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  41. I cannot post any details right now but I will be able to share more information about legal action in the near future. This will include details of how all ex-members of SOT can go about getting their money back.

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  42. Ask JJ if he has ever gone down 100k real money and claimed bankruptcy and left his broker holding the bag. Check California records. It's a public document. Right????

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  43. BTW L if you are that pissed (which I would be also) You can just sue him personally in small claims perhaps. I don't know cali laws. When he doesn't show for court which he won't you can then have your legal person file for a bench warrant for his arrest. Then the first time he gets caught even jaywalking he's in jail because of the outstanding bench warrant. Can't get out of jail till he pays whatever the judgement you got against him was plus interest and fee's and what not.. His home address would be on the above bankruptcy paperwork if you can find it online or have someone go to the cali records office and search it out. I'm just sayin....

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  44. No offense Lloyd but it has been nearly 2 years since you started your rant about suing schooloftrade and sidewaysmarkets. When is it going to happen? In the beginning i felt sympathetic towards you but now i just feel like your a guy that lost money and needs to blame someone. What are you trying to prove because it seems like a personal issue now that you cannot bring JJ to court. Your just being a baby about it now since you lost, so your crying to everyone on every trading blog you see. Please stop because i have lost a lot of respect for you in the past couple months. And im guessing a lot of other have too. I do not work for SOT or SWM, nor do i have a advanced membership(just a beginners). I considered buying the advanced membership but then saw your posts and thought i will wait till the lawsuit is over. I have waited and waited and now i think its time for you to stop. I will be joining SOT in the next couple weeks because of my loss of respect for you Lloyd, i will not be on your personal vendetta bandwagon any longer.

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  45. SOT Case Details

    On the 29th March I was contacted by an advanced member of SOT who was very angry with becomming another victim of their scam.
    Because this member was living in the UNITED STATES they were able to pursue a case in the small claims court against SOT.
    This member has been progressing a legal case through the California Small Claims court during the last 6 months and did not want to have details of the case published until they had successfully won the case and received their money back.

    On the 22 August 2011 at 10.30am PST the first hearing was scheduled and JJ failed to show up at court. Unfortunately the
    court did not have evidence that JJ was served notice. Accordingly the court re-scheduled the hearing for the 14 September 2011 at 10.30 am.

    This second hearing was also re-scheduled after it was revealved that JJ did not personally receive the paper to appear in court
    but had somebody else accept the paper. The hearing was re-scheduled once more to be heard on the 19 October 2011.

    At the hearing on 19th October JJ failed to show up and the judge requested a number of pieces of evidence to be brought back in front of him.

    On the 7th of November 2011 the requested evidence was brought before the judge and the case was reviewed.

    On the 11 December 2011 the case against SOT was won, a judgement was received and ruled in favour of the plantiff and granted for the membership fees to be reclaimed against the defendant(JJ & SOT).

    SOT was now granted the right to appeal the case judgement. No appeal or response was ever received.

    As you can see the legal process has been lengthy but is now complete.

    This case paves the way for all ex-members based in the UNITED STATES to pursue a refund of their membership fees. I can provide further details to any ex-member who wants to pursue a claim against SOT, please contact me via email at lloyd.hopkins@interlinksoftware.com.

    To FILE your case and SERVE the Defendant, the price for California is $199.95 which covers court filing fees and defendant(s) serving fees. These court filing fees are added to your complaint against the defendant(s).

    Cases can be submitted against SOT here : http://www.civiltree.com/small_claimez/wiz_1-4.php?CA

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    1. I think someone is pulling your leg - I searched the California legal registry - small claims and there isn't anything with his name or SOT listed. By the way James is not his last name. His real name is Joseph Donald Dufresne.

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    2. I have a scanned copy of the judgement including the courts stamp. I already know his real name it is posted on the main page of this blog!

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    3. Where can I see a copy of this judgement L?

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    4. I am afraid the judgement is not mine to show you, it belongs to the ex-member who contacted me as explained on this blog. If that member wants to share it with you that is up to them and not for me. However since you are posting anonymously I doubt that will happen.

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  46. Be advised that winning a case and collecting on it are two different things. I filed a small claims suit against a person for some tree work. I paid him half way through the job and he never came back to finish it. He, too, never showed up in court. I spent a lot in court fees and in constable fees to have it served. As I said, the guy never showed up and the Court issued a Bench Warrant. Sounds ominous right? Wrong! All it means is that if the guy is ever pulled over and the officer sees the warrant, The Defendant has the option- that's right, the option to pay or not. This, according to the judge. I won, spent the money and the Defendant has the option to pay or not. After time it gets lifted.

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  47. Anonymous, here is the answer to that problem : http://legalrecoverypros.com/

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  48. This is good news!!! Now what do people overseas do...

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  49. SOT is a scam. You all are absolute fucking idiots I MEAN IDIOTS to believe this bullshit he posts. Now they're marketing hedge funds? Are you fucking kidding me!?

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  50. I am/was looking into SOT so Please explain....

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