Sunday, 7 October 2012

SOT using debt collectors

A few people have written to me recently talking about SOT and the use of debt collection agencies. I uncovered the fact that SOT was experiencing a huge amount of chargebacks from their credit card company, no surprise in that news! Well Dufresne's answer to that problem was to enlist a debt collector, looks like he has instructed the debt collector to go after all ex-members to collect unpaid membership fees as a debt! Apart from being unbelievable in its arrogance this can show up as a problem on people’s credit history as the debt collectors will file a listing against the individual showing an unpaid debt. This just takes things to a new level, not only has he stolen money from many of us now he is messing up peoples credit standing and that will affect their lives as a whole. I am just stunned that nothing is being done against this guy , how on earth can one individual be allowed to carry on hurting so many people without recompense, where the hell is the law enforcement in the United States of America when it is needed?


  1. well i was employed by jj for better part of 4 years , i have been let go because he never paid me once , keep promising me checks and a dream . I have his whole operation recorded on tape on how he scams customers with his sim trades , he uses 10 different sim accounts and takes all trades based on his paterns and just shows u the ones that work out and deletes the rest , thats why he dosent show u the whole page only half , and as far as the charttrader , where are his bid and ask , looks like corel draw keeps him busy , lol this guy is a big time scammer , i have him on tape saying he is going to make madoff look like a pocket picker , this guy is cleaver so watch out please , dont fall for his autotrader max scam either please , he just keeps cash and pays u with next mans , ask him for a statement from broker , u wont get one i promise , he has this new guy marty who says hes a crude pit trader but is just as big crook as him , call the floor in newyork , there is no marty there , try local rehab . anyway please be safe there alot of these scum bags out there now adays and they promise a dream but deliver a nightmare , jeff knows story

    1. I do have a question. Why would you work for this guy for 4 long years and NEVER get paid and HE LET YOU GO??? That doesn't make any sense?

      I am not here to defend JJ. I know he is running a scam and I believe he is probably doing it just like you say he is. But I don't understand your first statement. Please elaborate

    2. I agree, how could you afford to work anywhere for 4 years without compensation?

      Also, can you provide some of your evidence please..

    3. I also agree, could you please provide some clarification on this because it also seems un-plausible to me that you could remain un-paid for 4 years unless you were earning money from other sources or did not need an income.

    4. what clarification do you need , i worked for the guy because he was family ,and yes i did make other money on the side to pay my bills. i went out of my way to help him and all he did was promise me the world , i can assure you that he has no intentions of ever making anyone money except him self , his forex pipe dreams are such a scam , all his is doing is paying you with the nexts guys cash , sound familar !!!!! I just wish i never got involved in this big scam , I will do what i can to make this right and spread the word to make sure he dosent scam people for much longer . last pc of advise - never never go into business with family , bad idea

    5. Guess i caught this right at the right time .well fuck all you guys that think we are a scam , If you can find a better program for less be my guest , perry was let go cause he did shit work and didnt listen to orders . You all need to get a life , you will never get a penny back for me . Read the agreement . I give all my customers what they pay for , and as far as Marty goes , hes the best trader I know , he has made hundreds of thousands of dollars for Sot and him self . Crude pits best trader. so last but not least FUCK YOU ALL . Thanks for your $4k , lmao, and llyod your little site will be closed soon dont you worry

    6. wow jj , im going to sue your fucking face off , im going to crush you for posting this and making all of us members look like fools , you lessons are garbage ,and nobody likes you , they all talk shit about you on skype behind your back . drop dead from chia seeds punk

  2. JJ or should we call him JD is getting lower and lower. No bottom in sight as for now. Where is CFTC? where is DOJ? Are we paying taxes for nothing?

  3. I just wanted to chime in, for what it is worth, and applaud you for staying on this guy and discussing exactly how he pulls this scam off. While it is obvious to anyone with experience that he is only doing SIM trading and calling trades after the fact when they are going in his favor, it may not be to the desperate and naive who don't know what they are doing or looking at. So many internet marketing scammers out there selling a pipedream with a NO REFUND policy ALL UPFRONT etc and they continue to get away with it with disclaimers etc. He SAYS one thing but then his disclaimers say another and will all of his garbage going on and people pay with the HOPE of finding a holy grail and they just get screwed.

    There is another guy named David Kuvelas at the OILTRADINGACADEMY that markets over the internet and while he is a complete nutjob, people still by this crap at $400 to $600 a pop because he makes it look so wonderful but it is TOTAL crap. People like David and Joseph should be in prison and all their money taken away but instead, what can be learned is that with the proper disclaimers and no refundpolicy in a "learning material" environment etc, you can get away with whatever you want to. That appears to be the truth of the matter

  4. So what is the update here...

    After reading countless reviews it seems like the guys that complain are looking for ``system`` where they can get in and out with signals or on what a pro tells you..haha. T

    hat is virtually impossible! There is no system that will ever do that for you. You need to learn how to trade the fundamentals. I have watched the morning review for 1 week and 4/5 days I have been profitable just writing down his levels and where to look for long/shorts. Id you think you can pay 4 or 5k and be successful instantly you deserve all your money taken from you.

    This is for LLOYD I have seen ALL your posts ALL over the internet bashing JJ, just a few questions for you...

    How much trading experience do you have?
    Did you expect to make profit within the first week? month? year?
    Where you just taking his entries and using his indicators to get in and out?

    His model is very basic, trend line trading...all markets trend, and when you add a few indicators it just adds conformation to the trade setup that is happening. Im not defending anyone here I just been reading alot of your complaints and most of them are saying that he using sim and not live. OK i can see why that makes you mad but have you tried trading crude oil or gold without his system?

    Look forward to your response ( or ANYONE who has been a member or SOT with more 2-5 years trading experience)

  5. 1 - None, that's why I was looking for a teacher.
    2- No I had no expectation to make money in the first week or month, I just expected to be told the truth and taught how to trade. I do realise to be successful at anything in life you must be willing to work hard and be committed. I expected my mentor was actually trading for real and his published results were in fact real. He promised he traded live and his results were real so I expected him to be telling the truth. I did not expect for him to actually be trading a simulator and for all his losing trades to be hidden from view and excluded from his P&L. This was deception designed to make it appear like his trading methods were profitable. This is a smoke and mirror show.
    3- I simply learnt all his methods exactly as prescribed and executed them with precision and skill. This is when I discovered it was all a scam and the whole system was a clever trick based on SIM trading and only revealing good trades.
    As we all know, the truth is JJ could not make a penny trading for real that's why he sells this bogus training. He is a scam artist and a con man. Anyone could show similar profits trading a SIM account and only counting winning trades on a spread sheet.

  6. Thaks for the response I understand why you are upset. Even when trading these "systems" you really have to your your own discretion when and whennot to take trades. The Levels that he seems to be calling are true levels of support and resistance, I know this becasu ethey match my chart and Im not a student of SOT. I ONLY take the high probibilty trades at support and resistance that he does call out from what I can read from his blog. Im sure there are other trades that he calls out during a "live" trading session but that should be up to you to take don't you think?

    At the end of the day I have bought into plenty on "systems" where the actual operator does not trade on live accounts but I have used these systems to my advantage and paired with my own knowledge always seem to make them profitable.

    There must be people that are trading with SOT that are profitable? do you know of ANY? is there any on this site that can testify?

    There are differences from trading live and sim but either way you need to be so precise with your entries and exits that even a couple ticks can ruin a trading profit. Especially with something like crude.

  7. He published his trading results every day and you were encouraged to spot the patterns and take the trades. The problem is simple, a lot of the trades don't work out and he hides them from view, this is why you lose money and he shows a profit on his spreadsheet.

    Not trading live(SIM) means you will gain ticks on entry and exit over a live trader, as you rightly point out these few ticks lost can ruin a trade and this fact along with the hidden trades further adds to the students troubles.

    His levels may be right but you can get support and resistance guidance or indicators from many places on the internet for free, a lot of what he packs into his course has bee taken from trading books etc. to make it look like he is an experienced and knowledgeable trader, he is not.

  8. Hello,

    Is there anywhere I can get his indicators? I understand that you were a past member, are you willing to share the indicators with me?

    Thank you.