Problem Apiary Investment Fund - Too good to be true??

[Pharaoh]

If dadof5 turns out to be a One Post Wonder, I think we'll all end up believing that his story is complete fiction created by Apiary.

 

[BigT1]

Again, I suggest dadof5 respond and explain why he cannot agree to publish his honest forward results!
I see no bias or diminishment in either a successful or failed attempt to make the method more well understood.
I beg you please accept this challenge, in order to nakedly expose your future results for all to see.
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If you have not the courage to do so, please shut-up and go away; and thereby reaffirm all the cynics of your boosterism as insider postings without merit.
Please come here again at your own dread; but, completely insulated by truth.
Assure us only, and when, you are prepared to document your position.
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"Don't Tread on Me."
FPA Seargent Anthony Ingrassia, CTA
NFA ID#: 0278164

 

[BigT1]

Still waiting for dadof5 to accept the challenge.
Meanwhile a rep from Apiary has reached out by telephone to me, so we will be discussing this privately; I will report soon.
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AI

 

[Pharaoh]

Dadof5,

Your hit and run "wow do I love Apiary" post with no followup is making it look very much like you were paid to promote the company with a false post and never were a student. Every day that you don't reply only damages Apiary's reputation.

BigT1,

Isn't it amazing how few people respond to a simple challenge?

So Apiary had called you. I have a few questions you could relay. For example:

1. All these "pay us to train you and we'll provide money for you to trade" places never explain where their money comes from. Where does it come from? Personally, if there really was a place that trained truly excellent account managers, I might like to have some of my money traded by that company. How come there's never an investor link?

2. How much does initial training cost?

3. What percent of students who complete initial training are hired?

4. What percent of students not hired after initial training are offered additional training? How much does that cost?

5. What is the average amount of funds placed into accounts to be traded by newly hired traders?

6. Do newly hired traders have to post some sort of bond or otherwise agree to compensate the company in the event of losses?

7. Could they have one of their most successful students who has been with them for at least one year join the forums and answer a few questions?

 

[BigT1]

Pharaoh,
We are on the same page. You know I will provide The Apiary Fund as much rope as they will accept without bias, and ask them to demonstate their paths to success in real-time.
Let's take it easy; just as we did with Dustin Pass TradeVantage; ultimately, there was no need to prejudge, at all.
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You know I have tested 121 EA, semi-automated, trade copy, and signals systems during the past 2.5 yrs.
One more will not hurt me; and I can only hope Apiary can truly deliver; despite the inherent skepticism rooted in the several fail reports logged here.
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Be certain I will apply the same principals of fairness and open mindedness I have always applied, should Apiary chose to offer me an impartial opportunity to openly evaluate their method.
Should they chose to participate in an impartial test, I am certain the results could be quite interesting for all interested in their offering.
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You know as well as I that at times, over-earger newbies can muddle the intrinsic worth of any system that requires discipline for success.
If provided the option to test it, I will investigate this pyramid plan with the same vigor and discipline I have brought to all other prior tests and from the point of view of an individual investor.
After all, if I fail to do so fairly, it is MY license on the line here, correct?
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Anthony Ingrassia, CTA
NFA ID#: 0278164
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[BigT1]

Had an extensive telephone and online screen-sharing session today with Mr. Nate Allred of The Apiary Fund.
http://apiaryfund.com/welcome
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He gave me a good overview of their operations, which are largely educational and target struggling manual traders with a few years of experience.
Likewise, I gave him an overview of FPA.
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It was a fruitful interaction. Nate has agreed to accept an inivitation I extended to join FPA not only as an individual member, which he already is; but also as a Vendor, so FPA members can write reviews and engage in a discusssion board.
He has also offered to make his website available to me for a more thorough study, with the intent of helping me (and us) evaluate the worthiness of their offerings.
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I have learned that Nate is a currently inactive, but a legitimately registered entity with the NFA ID: 0404129 with a 4 year clean track record.
Nate does admit that most student/traders are not successful, but that as a sort of Proprietery Trader Shop they seek to improve trader performance that will work for both the individual and for the firm over the long run.
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I look forward to Nate joining the discussions here, and further evaluating their materials and methodologies.
We all know that trading is not for everyone. I was able to observe their performance evaluation technology that measures each trader individually, and saw three randomly selected client statistical reports. One failed to even download the program after purchase, one was an active trader that showed quite good and improving performance over a year or so, and the third a beginner who is struggling.
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I think we owe it to Nate to listen and learn what they really are doing, now that we have some input that comes from other than complainants, or dubious 1-shot boosters.
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Stay tuned.
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AI

 

[Pharaoh]

He sent me a PM. Looks like he's been in the FPA since 2011, but never posted.

I look forward to seeing my questions be answered. A company that truly trains and then employs traders would be interesting. So far, every one of these I've seen does not inspire confidence that it's any more than a method to collect tuition by dangling the hope of live accounts in front of students. I would find it refreshing to see one such company that's truly legitimate.

Nathan, any chance of publicly answering the questions I've posted above? Also, if dadof5 is really a client, could you ask him to come back to the thread?

 

[Pharaoh]

Hellooo Nathan! We're all waiting to hear from you.

As long as you are going to answer questions, there seem to be some related issues in this thread:

https://www.forexpeacearmy.com/forex-forum/has-anyone-heard/14579-proform-trading.html

 

[BigT1]

Update:
Nathan contacted me late Friday 11/30/2012 to ask for a day or two grace, because of heavy business demands.
If we all keep cool, I think we can develop an effective thread here that might provide some real responses to all the open questions.
If anyone posting here is unfamiliar with my track record, just reference my three month test of Dustin Pass - TradeVantage:
https://www.forexpeacearmy.com/forex-forum/forex-software/19584-trade-vantage-com.html#post90306
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or Million Dollar Pips EA from William Morrison:
https://www.forexpeacearmy.com/public/review/www.milliondollarpips.com
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Nate has offered me the opportunity to independently evaluate this entity, and I will do so in time.
I have Google Mapped their address and found a modest facility in Utah which is no crime and certinly no shame.
To their credit, they accurately illustrated it as such, on their own website.
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They do not claim to be a mentoring service, rather an educational site with propreitery trading methods they claim work.
They offer three levels of involvement:
1 - Self-Study $500 with software and access fee of $97/mo. with no access to a company funded account.
2 - Access to Support and guided study $1000 plus $97/mo. with potential access to a company funded account.
3 - Building a trading Business $1250 plus $97/mo. with access to a company funded account.
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Their terms of service clearly indicate that their educational offerings are non-refundable. Refer to their website for further details.
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I promise I will keep everyone informed as this investigation proceeds.
I urge all that have been involved with Apiary to register here and follow this thread, plus contact me privately if desired.
I want input from all who have had an experience with them.
Together we will build a proper assessment for all to see.
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AI

 

[Pharaoh]

I'm looking forward to seeing some real info about this. I know there's already been one firm busted for offering the "training to trading our money" plan without ever hiring anyone.