Scam Warning for Simon Townshend - Trading University
I recently came across Simon Townshend - Trading University and signed up for his webinar. Being a seasoned at dealing with scammers, I thought I would do an investigation.
At first there seemed to be very little information on Simon Townshend - Trading University, but further searches reveal that Simon Townshend, has changed the name of his site after leaving a trail of destruction with several clients not only paying high sums for bad trading education, but substantial trading losses using his strategy.
The basics strategy and claims of trading-university.org webinar:
Simon Townshend claims he is going to teach a strategy on how to catch the big moves before they begin. It's a typical scripted Saga, starting out demonstrating he's an important good guy just giving out his secret and incredibly profitable strategy, discrediting some methods that inexperienced traders might not know, and then offering additional help to anybody that might want it at an incredible discount off the 15 000 pound price of his material.
As an algo builder of many years, I habitually backtest strategies (seems I can't help myself anymore). I am on the constant hunt for either reasonably good or bad strategies I can use in combination with my systems for statistical improvement (the bad ones I can always reverse and use to make profitable). A strategy that is neither good or bad is something I call a random strategy, and it's completely useless.
The secret and supposedly super profitable strategy Simon Townshend - Trading University presents is a random (useless) strategy. Sure there are times and market conditions when it can work well, but overall it doesn't, and the expectation built up is misleading.
Besides being mislead and time limit pressured into paying some 700 pounds for a random strategy package, there are some other telltale signs that Simon Townshend is a slick and experienced scammer of the worst type (sorting out bad trading advice takes tremendous energy and time as well as the financial cost):
- The "Live" webinar appeared to be pre-recorded. If I had to guess, I think it is fully automated, and a "Technical issue with servers in some locations (so wait for the recording)" is used to cover up in a slick (and sick) way. It's a way to keep disgruntled customers from asking questions at the "live" webinar.
- I received several promotional Emails a day when I signed up for the webinar. That's never a good sign.
3 traders have found this review helpful
May 3, 2020,
Service use: Demo
Length of use: 0-3 Months
So this guy was promoting good scam strategy via YouTube.. at first it looked convincing. After I signed up for his "master class" which should have been free according his advertisement, I attended his free training.
The training is hour and half, if in remember correctly, most of it is promotional crap and how this will change your life. At this point any sane individual already understands two things: it's scam and "pay me only this much" comes at the end.
Explaining his strategy, which is simply The Dow Theory you can learn on YouTube for free, takes only 5 to 10min. Also he is showing bunch of carefully chosen chart screenshots.
The days after you sign, you will keep receiving spam him trying to convince b you to pay him and join his worthless class.
Avoidb this low life scum.. I wonder how come people like this guy are still walking free scamming people.
I learned a lot about trading just for free from YouTube and internet. Don't pay anyone. Do it yourself.