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BEWARE! www.schooloftrade.com & www.sidewaysmarkets.com is a scam and Joseph James is a fraud now desperately trying to cover up for years of deceit and lies.

SOT has recently updated their license agreement with statements like this,

"Do not make actual trades based on information or alerts based on any information from SchoolOfTrade.com nor our live Signal services. The signal service, for which you are enrolling sole purpose, is training." See the full article here http://www.schooloftrade.com/terms.php.

WHAT A JOKE! When I was defrauded by JJ he was banging on all day about earning a fantastic living and growing your account. He would often say things like

"if you take 2 losses in a row make sure you switch back to SIM trading" "You will need $1500 minimum capital to start trading with 1 contract"

"once you have made your daily profit goal switch back to SIM trading, no point giving back all that hard earned cash to the markets"

I could go on and on...

Please watch a video of my story at http://www.youtube.com/watch?v=jxFRI-j4SX4 or visit the SOT Review Facebook page at http://www.facebook.com/pages/schooloftradecom-Review/126853970701406.

I have been building a case against SOT for over a year now and I am certainly making progress. Please join me to get this guy shut down and held to account for defrauded hundreds of people with his live trade room scam now being re-branded as "training".

JJ promotes massive monthly trading profits luring the unsuspecting novice with the promise of riches, the truth is his system is utter garbage and cannot make any money whatsoever in live trading. He has deliberately deceived and defrauded people and now the heat is on and and the CFTC are no doubt on his case he is trying to cover it all up.

I am not going away JJ until you and SOT are shut down and everyone you have conned over the years is fully compensated.

Review about: James Wave Trading System.

Review #204102 is a subjective opinion of a user.

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LloydH

CFTC Charges California Residents Joseph Dufresne, Megan Renkow, and Their Company, United Business Servicing, Inc., Doing Business as Schooloftrade.Com, with Fraudulently Marketing Commodity Futures Trading Strategies and Systems

http://www.cftc.gov/PressRoom/PressReleases/pr7464-16

Anonymous
Manchester, Manchester, United Kingdom #1222714

http://www.cftc.gov/PressRoom/PressReleases/pr7464-16

Check mate
#898415

So since I'm a member and if anyone else is a member then if he is doing it in Sim mode then the way to check it is to have a live chart as long as it is not delayed of Meta Trader or something familiar while he is trading live.

I do it with my binary trading as I can watch the movement the market.

As I have joined his Full Time Membership and only have $600 left to pay it's a bit too late but since i have not used his indicators and have not traded then I have a good reason now to check if this site is genuine so at this point I am neutral.

It won't be too hard too check as JJ only does Crude, Gold and Mini Russell most of the time, but if you are mainly only trading 3 stocks would you not be well educated on the movement of the markets?

Or at the same time if you have joined and wanted to jump straight in then lose your money isn't that gambling?

So as I am a cautious person and not a gambler but I see him as an educated professional when listening to him.

So why not check on a live chart while he is trading with just a renko chart. If it is Sim Mode you will find out very quick the difference. So tho, what do you mean exactly by Sim Mode as no one has really questioned what it is? Thank you for the advance notice but checking is easy and did you gambler before you learn't anything is the other question.

So you know what to do people.Check!!!

ethanchall

All,

I joined the advanced program back in February of 2010 after watching the room as a guest. I traded in the room with JJ every day for just over a year...until I launched another business which consumed too much time for me to focus properly on trading. Since then my visits to the room have been a bit sporadic just to stay in touch.

I have also traded Forex and Stocks since 1997. Unlike most of the commenters on here, I really know what I'm talking about regarding trading in general and SoT.

First, let me address the "scam" claim. My understanding when I joined was 1) that JJ would teach me his methods for trading price action based on technicals and order size flows and 2) that these methods work, period. I also understood very clearly that my success would be determined by MYSELF, not JJ. I was not *** enough to believe that I could shadow trade him, especially with the latency on a video feed from almost 2,000 miles way.

And regarding this "JJ better entry" issue, this has been addressed as well. Every different feed is going to vary slightly, especially with transmission latency. You need a very low latency connection to the feed in order to get in with the trap technique and a good level like he does. Also, he does have a bit on an instinct about pulling trigger where the entry level nets him a an extra tick or two...which can make a big difference. Either way, if you do your trade management as taught, the risk is pretty...

All gains and losses over that year were clearly MY fault. JJ told us repeatedly to take a disciplined look at our own goals and situation to formulate and strictly follow a daily plan. JJ clearly demonstrated from day one how to use his methods to make consistent profits. I saw every winning and loosing trade he took, displayed there on the chart for over a year. So was I "scammed"? Absolutely not. Many on the internet love to throw this word "scam" around and few know what it means. I never paid him to be "honest" about his trades. I know he has been 100% honest in the way he has dealt with me and the market truths he has conveyed in the room. Beyond that, I don't care whether he trades sim or live. But I will say he told us on a number of occasions that he does not trade in the room to make a living for himself, but strictly to teach his methods. I think most people are just not very bright and expect to follow him like lemmings and avoid all the extremely hard work JJ puts into his analysis and trading. Of course it is possible he has been dishonest on occasion to get a little extra business jsut like about everyone else on the planet has...I can't say for sure. But I do know for sure that if you pay the membership money, follow the instructions in the course materials, ask for help on details, and execute the right plan without emotion, you will be successful. A "scam" is when someone was intentionally deceived into not receiving what they paid for; and with SoT, members do get what they paid for regardless of their trading results. Everyone should take a good look in the mirror.

Second, I do believe that JJ has become a bit of a victim of himself over the past couple of years. Things were much simpler in 2010. Back then there were the basic patterns and easy going trade decisions. The concept "700 bucks a day" was great in that there were not the extreme highs and lows you see today.

JJ does the mental work of 5 traders every day. I've never seen anyone else perform tasks at such a high level of output over time. So as he hungered for more, I believe he introduced too many additional systems and methods in a attempt to move forward and chase evolving markets. His original methods were solid; but since then it has seemed impossible for one person to perfect all the stuff he has available.

And so my assessment of the current situation is that people are overwhelmed and confused because they don't understand the big picture and the roots of his trading systems. They focus on the wrong priorities like whether he is live or sim, or whether he treats every loss or gain with the same attention. In my opinion he is spread way too thin with too many systems and too many members.

I also believe many (most?) members are guilty as they do not start with the very beginning of his core methods and stay on sim until they are making good, consistent, dispassionate trading decisions. Only then after time controlling your emotions and cutting losses early will consistent profits materialize.

All of these "I lost all my money in the first month or two" stories are irrelevant. That was their fault. If they did what they were instructed to do, they would have lost all of their SIMULATED money and decided TRADING WAS NOT FOR THEM during the free trial period. If you do it properly, nothing changes from sim to live...trading is the same. Emotional hang-ups regarding the switch to live are the fault of the trader, not the teacher.

So take this as you will - but my advice is to put the energy into learning to trade JJ's methods instead finding fault as if he is supposed to be inhumanly perfect.

Regards,

Ethan

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Eric
Harrisonburg, Virginia, United States #584369

I read his morning blog each day, and I'll have to say that it has helped me in

my own trading. I have been a trader for a long time and I do believe JJ has made

some good calls about the markets. His morning blog has become my first read

before entering the market place. It's packed with info and I have done very well

following this blog.

In the long run, you have to create your own set of entry/exit rules, not to mention good money management. Never rely totally on someone else to totally trade for you.

If you are a bit skeptical about SOT, I would suggest to first read the morning blog and then watch the markets for a bit. This will give you an idea of JJ's knowledge of the markets.

Juan
#540422

Disclaimer: I'm not a member.

I have watched tons of the youtube videos they post and read the morning updates on the site. I think there is some good info about the futures markets, but the site itself, in my opinion, is a scam.

Five things make it pretty obvious.

1- How he seemingly never has a losing day. To anyone who trades, this is preposterous. Ask anyone who trades for a living, stocks, futures, options, etc. It can't be done.

2- I can look at the charts at the end of each day and easily be able to tell which trades he claims he took, because he will conveniently only take the ones that work. One note on this, he trades 4 contracts and takes 2 at 5 ticks profit, 1 at 10-12, and last a runner. But a couple times recently he's shown in his youtube video that on days where there has been a huge selloff on oil for example, he will somehow know to (beforehand) do something different, which is to get short early, then add a contract like 20 ticks lower, then add another, and another, and by the end he will say he made 100 ticks per contract and made a +$4,000 trade. Somehow he knew exactly when to add each contract as well. It just seems fishy how I never heard him talk about that strategy, but it pops up after a day when it worked perfectly.

3- What makes it obvious, and has been mentioned several times already: His so called trades. On his videos he says this over and over again, "Can you place a limit order? Because...

4- The price for membership is clever. $4,000 is a lot of money for something like this all at once. They claim "our goal is to have you as members for life, not a monthly charge because sites that do that only want to take peoples’ money for a while, and they don't care if you come back." Think about that, it is completely backwards. If you have a service that works, you’d get much more business charging a small monthly fee (~$50). It’s MUCH easier to get $50 from 20 people for 4 months than it is to get $4000 from one person. Why the large one-time fee? Because they promote their website as this fantastic, can’t miss, easy to learn, extremely consistent method where you can make $1000/day. So obviously their information is very valuable, right? I imagine new traders get duped by this constantly with the dreams of getting rich. It seems great, until, of course, you realize it’s not even close to true. If he charged $100 monthly fee, people would be members for 2 months then quit.

5- Come on people, if there really was some kind of system or method for trading that worked as well as this one claims to, everyone would be using it, and then it wouldn’t (COULDN’T) work.

Overall I think there is some good info about the futures markets, but it would be infinitely more believable if they would post vids of losing trades, losing days, or mistakes made. Like I said before, anyone who trades knows you will never make money each and every day.

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Matt Barnes
#458519

My Experience with SchoolOfTrade.com has been very positive for a few reasons.

First, the customer service I received was top-notch. I always get my calls answered and emails are quick responses. this was very important to me because I wasnt confident loading charts for the first few weeks and they really did a good job at answering all my questions and making it easy on me to start the correct way. made a huge difference.

Second, I love the trade room. I learn so much every day, I have fun, and I seem to be getting better by the minute while I listen to JJ talk about what he's seeing, etc. Very exciting place to be, and for an old-timer like me im trying to find someone to work with every day besides the dog :) Love the trade room, the education, and JJ has the energy of 100 people, really amazing stuff in my opinion and ive been to a million other trade rooms.

Third, most important....I have been profitable for over 6 weeks now almost every day. I wanted to wait to write my review until after I had experienced everything that JJ and SOT offers, but now im really excited for each day. I earned my initial investment back in 2 weeks of trading 1 contract and now im trading 2 contracts. I have only had 3 days over 6 weeks with a loss end of day, and the losses were only a few hundred dollars TOTAL, nothing like the old days of my trading when I would lose thousands, this...

I have been making money with JJ, and even though it required a little bit of work in the beginning I am SO glad that I joined. I attend the trade room every day, and im SO excited for the new members trade room next week.

I recently recommended this course to my brother so he can manage his IRA account, and I would encourage anyone looking to earn some money in the markets to join up too.

Hopefully I will see you some day in the members room. In the meantime I will be studying my patterns. have a good day everyone.

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LloydH
#457422

JOSEPH DUFRESNE is uncovered as the real man hiding behind the alias Joseph James at SOT.

Now, can anyone assist in tracking his California address down?

Ben
#441490

I’ve been a member for over 18 months with SchoolOfTrade.com and JJ, and I have continued to be impressed by how hard JJ works for us as members, how easy it is to ask questions and get support, and how well the Fast Track Method prepared me for my trading career.

I graduated college without any real direction when I met Joseph at SchoolOfTrade.com and I was impressed right away like I think a lot of people are. Not really knowing what I was getting myself into, I jumped in and started learning.

I made the rookie mistake that I think everyone makes, I tried to learn all of it at once, and ended up blowing my first account because I tried to scalp every move in the market, even as JJ reminded me over and over again to complete the ‘custom’ trade plan worksheet…I just never thought I needed a trade plan…boy I was wrong. I just didn’t realize how important it is to be patient for the best patterns at the right times of the day.

Fast forward 12 months later and I am making money almost every day. After I blew my tiny trade account, I had a private training with JJ and he reminded me of the Fast Track method ( I knew about it the whole time, but never took it seriously). After reviewing the fast track method I realized it wasn’t a bad idea to follow Joe’s plan, I tried to be a ‘bull in a chine shop’ and that didn’t work, now I needed to LISTEN to JJ…and off I went.

10 days to learn, 10 days on demo, and then I went...

I took my first 3 months on 1 contract with the fast track method, then moved to 2 contracts, and now a year later I'm trading 6-8 lots during the day, and even put my profits into the auto trader and have made money there as well. I guess I can say that in the end I'm the happiest trader in our live trade room most likely.

The team at SchoolOfTrade.com and JJ have dramatically changed my life, I cant even think of where I would be right out of college without the whole package. He provides me with daily discipline and motivation, even eating healthy has been something he rubbed off on me too :) On top of the ‘intangibles’ I'm making real money to pay my bills, and for that I am forever grateful.

I got an email from a friend of mine this week talking about how upset he was in another trading chat room for stocks. I told him he needs to go see JJ at the very least to get himself back on track…but I know he wont leave once he sees the value that I did.

Thanks for letting me share this with you guys. Hope it helps new people understand the value the I saw in this program. It may not be for everyone, but learn from my mistakes, if you put some effort into it, listen to what JJ is telling you to do, you’re going to do very well.

Email me if anyone has any questions, id love to share more.

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LloydH
#438042

Readers, search this in google "schooloftrade.com court battle" and read about how SOT has been ordered to repay membership fees to an ex-member after losing a case in the California small claims court.

Those comments from "Peter" & "Donny" are posted by JJ & friends. JJ goes round all the forum threads that expose his SCAM and posts positive comments pretending to be a happy customer of SOT. Everytime fresh evidence gets posted he will be straight on the thread posting nonsense praise about how great he is.

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