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Statistical Traders Pte Ltd is a scam training. Beware

Discussion in 'Scam Alerts' started by Yip, Dec 2, 2011.

  1. Yip

    Yip Recruit

    Nov 6, 2011
    Likes Received:
    Currently the content is being removed because Statistical Traders send a lawyer letter to a friend alleging of defamation which has no relation to him.
    #1 Yip, Dec 2, 2011
    Last edited: Feb 23, 2012
  2. machintose

    machintose Recruit

    Dec 9, 2011
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    Attended their preview couple weeks ago,

    1. The MIG report which he showed from $100k to a million + is a demo account.
    2. He explained to the audiences that 1 pip = US$10 on the normal standard lot (which is correct), however, one participant asked, what's the capital I should invest? Ryan said US$1,000 ... as many newbie in the rooms, nobody asked WTF with US$1k you trade 1 standard lot? suicide?
    3. He said Top traders are only risk their trade max. 5% of their capital; then why giving the impression that with $1k we can trade 1 standard lot.
    4. All his students trade reports show fantastic results, but you should notice the lot size that they trade.
    5. During the preview, he said by using his "Instant Reversal" strategy, we can easily get 20 pips everyday x 20 working days = $4,000/month (no one realizes that the assumption is provided his strategy consistently giving 100% accuracy).
    6. In short, his basic s@fe course is a full day course, it costs S$599; he teaches you "Instant Reversal" and "Breakout Pips" with Money Back Guarantee.
    7. His 'buddy', James, is using pressure tactic; if you sign up today, the course will be $499 (must sign up in a pair), reduce further if we sign up 3-pax at once, the course will be $299/ea
    8. In my opinion, the BIGGEST draw-down of this preview is that we have to sign up with FXPrimus as their recommended broker, seems the broker is (said) subsidizing our course fee. So we have to fund min US$1,000 with FXPrimus before we can begin our course.
    So this is obvious that they are not just a forex school but also earning IB from their students. Worse still, mislead people to trade 1 lot with capital just $1k.

    After all the above, I have my reservation to sign up with them.
  3. wcchan

    wcchan Recruit

    Jul 1, 2011
    Likes Received:
    He told the class that he traded 500 std lots. He lost that trade, which set him back more than $631,000. Simple arithmetic would show that he must have well over US$2 million in his equity before he could handle this trade. With play money, $2 million is chicken feet. Did he really expect the people to believe that he had this kind of money? Btw, where does he live? In an HDB? Hahahahahaha..

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