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Nial Fuller Price action forex education method

Discussion in 'Has anyone heard of?' started by barbs666, May 26, 2009.

  1. Demonkiller9

    Demonkiller9 Banned

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    And now we have it - Nial is a fake at what he does

    Evidence is about to be presented---
    On Nial's course page he has a trade where he states he made $10,000 profit from a live trade. What is very strange is the disclaimer at the beginning stating CFTC Rule 4.41. In it the rule stats as follows;
    Hypothetical or Simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading....

    If you contact the CFTC and ask to talk to someone about CFTC rule 4.41, they will clearly tell you that if you present a live trade from a live account, you do not nor should under any circumstance present this disclaimer in regards to the trade being specified as a live trade from a lvie account. They further state that if you have been live trading for over threee months, you cannot put this disclaimer up there to represent any simulated performance.

    A person to contact abuot this is named Christopher at (202) 418-5000 or ask to talk to someone about CFTC rule 4.41..

    So what does all this mean? It means that NIAL IS A COMPLETE FAKE in saying the trade he made on this video (Forex Trading Course | Price Action Forex Trading by Nial Fuller)
    of his webiste where he made $10,000 profit is utterly false and rubbish. If it was a live trade, he does not need this disclaimer in any way shape or form in regards to this trade but it is the first thing you see on the video.

    However, if it is a demo or simulated trade from a demo account, then he absolutely has to present this disclaimer on the video or any videos showing trades where he claims they are live but in fact are demo.

    It also means any other trades where he posts them saying they are live trades but has the disclaimer is in fact from a demo or simulated account and not a real one.

    It is utterly shameful he would use this as prooof or marketing promo material to say it was a live trade and made live profits when in realiity it is from a demo account.

    The other topper is if he actually has been trading live for over three months, he legally cannot have this disclaimer or use any simulated demo account trades to represent actual real trading.

    there you have it ladies and gents
    DK9
     
  2. Black Bird

    Black Bird Corporal

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    Far better commentary!!!

    If you want a commentary with much better analysis and forecast try this one: FX Trading Blog - innerfx.com instead of Nial's rubbish.

    As a new member said on Nial's forum:

    "Today total failure for technical price action in currencies of NZD-USD GBP-USD USD-CAD. Nial Hopefully will explain that?"

    That was for the analysis on the 10th October. Check it out and you'll find out that it is true. And just in case you wonder No, Nial never explained and neither did his "Coach".

    I found Innerfx analysis to be light years ahead and, contrary to Nial's site, it did help me to make profits. For example, if you check the analysis on the Eur / Usd on the 12th October, you will see that Liviu says that a breakout of resistance,1.3700 is likely. I went Long at 1.3705 and you can see the price today at this moment is 1.3872. My trade is still open but I have trailed my sl to 1.3850. Important note: Please bear in mind that I do my own analysis first and then check Innerfx and I take a trade ONLY if I agree. I never ever blind trade.

    You can subscribe to the site and receive an email when the analysis / commentary is published, usually early morning GMT. The site is 100% FREE.

    Also, I have no affiliation whatsoever with Innerfx. I'm posting this only because I get pleasure out of helping out people, and moreover, I wouldn't want anyone to make the same mistake as me and pay 334Usd for an utterly useless commentary and course, which you can find for free online.

    Final words: More and more members are hinting and complaining on Nial's forum. I think Nial has got away long enough with his crap.

    ;)
     
    #142 Black Bird, Oct 14, 2011
    Last edited: Oct 14, 2011
  3. Filopastry

    Filopastry Recruit

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    Branching out

    Hi Everyone,
    After being in Nial's course now for 6 months. I am starting to grasp Price action and how the market operates.
    I never considered trading gold or oil before. After seeing setups I am currently trading on forex, I decided to take the plunge. Both trades came off very well, I know you cannot predict the markets reaction but following the edge that Nial covers in his course can cross all types of charts.

    I am very greatful to Nial for his help, I hope others will be able to learn from an excellent teacher.
    Filopastry
     
  4. Tank

    Tank Recruit

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    nial

    i havent bought into his course mostly because ive seen steve nison's forex course and its very similar. i do however follow his daily setup commentary and take that into account. i live in sunny south africa so his commentary is available when i get to work well before london open. ive followed his comments for about 12 months now and watched the free video's. i would say about 50% of his methods you can pick up elsewhere for free and close to 100% if you buy steve nison's package that is allot more expensive and very overpriced to his name (nisons will be better i think).

    in general nial's package might be worth it if the forum is active enough and you make use of his support.

    i prefer price action, horizontal support / resistance, combined with 2 or 3 SMA's, so his method is similar to mine and works reasonably well without too much stress or time involved.

    i trade intraday, he doesnt and i dont trade full time, so i'm closer to a newbie then a pro, much closer

    ps. like i said, i havent seen his full course, but have tried to read all his articles, watch all the videos and check his commentary for quite some time..
     
  5. Demonkiller9

    Demonkiller9 Banned

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    Nial Fuller Faked A Live Trade with A Demo Acct

    Nial Fuller is a fake! He posts in his video for his course page a setup he says is a live trade - yet he puts a CFTC disclaimer up there (rule 4.41) you do not need UNLESS YOU ARE SHOWING A DEMO OR SIMULATED TRADE!

    Again, contact the people at the CFTC with the number I provided below. They will even tell you if you have been trading live for over three months, you cannot post any simulated or demo account trades and would not use this disclaimer for any reason.

    If it is a live trade, you do not under any circumstances need that disclaimer which means that since he has put it there, he has misrepresented a demo account trade by saying it was live.

    Pure Sophistry and Marketing from a Fake, plain and simple.
    DK9
     
  6. Pharaoh

    Pharaoh Colonel

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    If a signals or managed accounts service (which Nial's service isn't) showed exclusively live results, then the disclaimer probably would be unnecessary.

    On the other hand, ff even a single video or other trading example on Nial's site uses even one trade taken on a demo account, I would think that CFTC disclaimer would probably be required.
     
  7. Tank

    Tank Recruit

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    law

    when people critisize most seem to think they know laws. my guess is he plays it safe and puts that disclaimer on. i do remember he did a short experiment a while ago to show how important risk vs reward is when placing stops and PT. He stated clearly he did random demo trades for that experiment. he did quite number using 2:1 r vs r and the account was positive. so like pharoah mentioned, and considering the above, he probably should play it safe and put up disclaimers.

    like i said yesterday, i havent bought his education and not sure if i will. i do however agree with his trading style and may pay the money to join the price action forum plus get his support..

    just my views
     
  8. Black Bird

    Black Bird Corporal

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    Fairness

    I'm going to try and be fair here.

    In his free commentary Trading Setups Commentary – Daily Forex Trading Commentary | Learn To Trade Nial or his coach says:

    EUR / USD - We see potential for a move lower if price breaks down past the low of this pin bar.

    Member's Commentary:

    AUD / USD – .....we could see a resumption of downward price movement if the low of this pin bar breaks. There isn’t much support until about 0.9980.

    NZD / USD – .... If the mother bar low breaks we would likely see a larger move lower.

    A lot of members are Short on the above pairs either at the break of the Pin Bars or half way of the PBs and/or the break of the mother bar (Nzd / Usd)
    The commentary was published shortly after NY close so the lows of the PBs have broke BUT in both cases the price reversed. The MB of the Nz / Us did not break yet.

    I do NOT agree with any of the analysis; as a matter of fact I took a Long on Eur / Usd at 1.3700 with my tp at 1.3870 and sl 1.3660.

    The sl of traders is above the PB, which is what Nial advises. High of Eur / Usd PB is 1.3868 and high of Aud / Usd is 1.0353.

    Now, if the price on Eur / Usd and Aud / Usd reverses and follows Nial's analysis I will stand corrected and take back everything I said on my previous post.

    I think this is a very fair play. Price at time of typing on Eur / Usd is 1.3832 and on Aud / Usd is 1.0262.

    I'll keep you updated. ;)
     
    #148 Black Bird, Oct 20, 2011
    Last edited: Oct 20, 2011
  9. Demonkiller9

    Demonkiller9 Banned

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    That is actually not correct Pharaoh. Contact the person at the CFTC directly which I did.

    It has nothing to do with being a signals service, managed accounts service or the fact that he is only offering education. According to the CFTC legal counsel there, if you post a trade which you say is a 'Live Trade from a Live Account' you cannot under any circumstance put that disclaimer before the video, nor do you need the disclaimer for that video.

    It does not matter if Nial has some videos where he is showing a live trade and some using a demo, for that trade exclusively, he is claiming it is a live trade from a live account and still has the disclaimer before the video. He cannot nor should put this disclaimer on a video representing any live trade.

    On top of it,, acccording to the same legal counsel at the CFTC, if Nial had been trading a live account for 3 months at the time he created this video, he actually is not allowed to use any simulated/demo account for his education. Furthermoore, he cannot use this CFTC disclamer because 1) it is not applicable and 2) after 3 months of live trading you cannot use any demo/simulated trade examples,only live examples.

    So Pharaoh, it really has nothing to do with what type of service he is offering (managed, signals or purely education) according to the CFTC.

    Tjhe real issue is then the trade which he is claiming is live is actually a demo account trade.

    DK9
     
  10. Demonkiller9

    Demonkiller9 Banned

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    Tank,
    I contacted the legal counsel at the CFTC directly and the information I stated below came from him directly after having a long conversation about it so the information is correct.

    I am not criticizing based on some artificial knowledge of the law. This is directly from the CFTC verbatim. I fuurther gave the contact number and person of contact which you are welcome to folllow up on

    Again, if that trade was a live trade, then he absolutelly cannot put that disclaimer up, nor shoould he according to the CFTC.

    DK9
     
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