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Updated: Aug 10, 2015
4.296 · 18 REVIEWS
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4.296 · 18 REVIEWS
Forex Peace Army
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Irmantas,
Siauliai, Lithuania,
Aug 7, 2015,
Guest

I want to thank Pete for teaching me his trading method. At the time I am in 6 win strike, and I hope it will work in the future like this too.
In the beginning I bought his video course, but after quick watch I was not able to trade profitably instantly. I contacted Pete and showed him my entries, he replied quick and said that I am too aggressive and pointed me few things what I was doing wrong. In my surprise he offered to me to attend his live webinars for free for 2 months! He said that no one is left behind if needed more help. And now after 2 months of learning, I see clearly what and where I need to wait for trades. You can expect 1 trade on average per day, about 0.5-3 RR, M5 volume/price setups in H1/H4/D important levels, active skype chat... and I can say it was fun! :)
Jim,
, USA,
Aug 1, 2015,
Guest

Pete is amazing. I've been in his live sessions about 2 months and his ability to read the charts is impressive. His trade calls are 80-90% accurate on a regular basis. He takes the time to answer questions while he trades..amazing. I'm FINALLY making money after trying everything that didn't work! You will not be disappointed!
Erinsunc,
England, United Kingdom,
Mar 20, 2015,
Guest

Anyone considering to give up their time and follow Pete should read the transcript below. It is a conversation I had with Pete on his “This is how to trade profitably. (47) “ video. At the end, Pete promptly closed all comments but not before I had copied it all.

--------------------------------

erinsunc 3 hours ago (edited)
If your are currently in this trade why don't you show it instead of showing all your charting on a demo account. Unless you are not actually in a trade and just feeding us BS why else would you not show that you are in the trade? In fact, of all the videos you have posted I don't think I have ever seen you actually in a trade. Raises suspicion Pete.

petefaders 2 hours ago
I called this trade live in my webinar session with my subscribers. Join my chat group and talk to them. My skype is Petefader. Obviously I don't want to share my account information. Good enough for you?

erinsunc 2 hours ago
Calling a trade and actually showing that you have entered it two very different things. You have been trading MT4 for years now and yet, to my knowledge, you have never provided a substantial trading log. There are plenty of online options available for you to publish a live trading log with the ability to mask what ever sensitive information you wish. Even a youtube clip showing your trading log masking lot size and profit/losses would be something. At the end of the day, is it really too much to ask for proof that you can trade rather than just explain what happened in hindsight as so many scammers out there like to do.

petefaders 2 hours ago
Talk to people that trade with me live. If that's not good enough for you, oh well. As we speak I'm taking profit on another A/U short. Come talk to people that are in the trade with me or move along.

erinsunc 1 hour ago (edited)
So I ask you politely why you don't publish a trading log/journal and you only response is to say 'Move Along' ? Not good. I have no desire to join your for group again (yes, I have been there, done that) because the reason I left seems to be the same reason why I don't come back. You have never provided any proof that you can consistently successfully trade.

I have been in this game way too long to be impressed by a one successful trade it's your last 50 trade I would like to judge you on and considering that you have been going for at least 4 years there should be much more than 50 trades to look at.

In terms of % of account, what has been your performance over the last 6 months. Retrun/Loss, Drawdown. Get where I am coming from ?

l'd give you an Oscar all day long for your presentation and understanding of what has happened in the past but I really do not understand what the problem is with you providing a trading log/journal for us all to see.

petefaders 1 hour ago (edited)
Since I present myself as a teacher, what really matters is if my students are profitable. I'm not here asking to manage peoples money or bragging about what I make. I'm teaching. When my students make consistent money, I am justified. Period.

erinsunc 41 minutes ago (edited)
You disrespect teachers. In the real world, teachers have to prove their ability. You,obviously, believe that you do not have to.

I have no interest in what your students do as they are not the ones offering their services for cash. Besides, I have been there, done that and didn't make money. You know, it was never my intention to disrespect you but by refusing to provide a reasonable explanation as to why you are unwilling to provide a trading log doesn't help the cause.

Pete, You now have an golden opportunity to make an ass of me and shut me for good. Log back into into your myfxbook account and upload your live account (never really understood why you stopped using it). Lock down anything that you don't want us to see as in lot size, cash return etc and let us see that you can trade. You don't have to work out Drawdown, Monthly Return or anything like that as myfxbook will do it for you.

Show me and anyone else reading this log that you can make profits and can keep hold of them. Show us that you are in the top 5% of traders that are successful.

Pete, you have nothing to lose and a lot to gain !!

petefaders 10 minutes ago (edited)
I'm not going to post any information about my trading account online. Since I'm teaching, it's the results that students have that matters and the trade setups in the room that I call. There are people making money trading what I taught them in my babypips thread and on Skype. I guess they are all lying. I have nothing else to say about this. Good luck with your trading.

erinsunc
Again, the proxy performance of what your students (I think subscribers is probably a better word) achieve is not what I am interested in.

You know Pete, I never questioned your ability to trade but considering you are so adamantly against providing any real evidence that you can, must surely bring that ability into question. I have now come to a regrettable conclusion.

What really annoys me is not that you generate revenue from people naively topping up your Paypal account but that you take peoples time on one hand while giving them hope on the other.

In light of any real evidence, you must be a scammer and a fraud. The fact that you deleted this conversation from other videos you have posted just throws gas onto a very established fire !!!!
Kyle,
Tasmania, Australia,
Feb 21, 2013,
Guest

I have known Pete now for nearly two years. I started my experience with him via Babypips website while learning his Madscalper technique.
As my experience grew, I became unhappy with an indi based system that told you when to trade and was advised to look at his VSA thread.
In short, there was a huge amount of positive information in there and Pete was a regular contributer in that thread, answering all sorts of questions. Very helpful and without a pronounced ego.
Before long, I moved along to his paid subscription webinars (September 2011) and enjoyed learning his method of trading VSA right from the start. I must say that the method of learning via the webinar really sped up my knowledge and confidence. Pete was always happy to ask questions and hosted lessons when the charts were having quiet days, so that everyone including himself did not lose sight of the basics of VSA trading.
I have been a paid subscriber to this day, and have found that I could be a trader independantly - if I had enough confidence in myself, but I do like to keep subscribing to the webinars to ensure I stay focused on the basics as well.
Pete does not have an indi for every scenario. He does not have a multitude of ways to enter heaps of trades each day.
What he does though, is apply a simple (once you learn enough with it) VSA technique, with minimal indicators, a near naked chart and use of Fibs and S/R levels. He has a great knack of being able to read the chart and says what he is thinking.
It is fantastic to be part of his webinars - I am possibly one of the longer term members there, but I feel that I am given a lot of useful information and learnings, as well as being given enough acknowledgement for my own say as well.
There is nothing like asking Pete about a particular setup and finding that is was correct and having the entire trading room ride the wave of profit on that setup.

In all, I find Pete very genuine, honest and most of all, trustworthy. Although some may say that the monthly fee is a bit of a cost, let me just say that I paid for 3 months subscription with my first trade in February, so int he scheme of things, it is a small cost to bear for the value you get out of it.

Very recomended for those traders who are patient. If you have past the need to be in a trade for the sake of it, sign up.
Alwin Chai,
Malaysia,
Mar 29, 2011,
Guest

i followed pete's thread before i decide to pay for the room.
and i paid for full course.

every time pete start a webinar, he will explain how he analysis the market, plan for long or short.
then guide me on how to deal with the market reaction and make decision.

at the very first time, i feel uncomfortable with the american accent.
what the f*** pete talk about, LOL, i just understand "long" or "short" only.
for your information, im a chinese, im a asian, and my english very poor.
i have to use google translate to communicate.

i request pete to IM me over skype to explain, because im really poor in listening.
and i thought he will reject, this quite annoying, pete said he will try.
but he did.

i joined 2/3 week ago, i learnt alot,
now i started to understand what the hell that MTM trying to say.
and i will continue my subscription, for sure.
The man Stang,
US,
May 18, 2010,
Guest

I have been learning and following pete for about 3 months now.
Pete has some excellent systems. If you learn them well and follow the rules to them, you will be successful and make positive pips over the course of month after month.
Pete teaches two live training sessions twice a week (which usually last close to two hours each) and is always available during trading to explain why a trade may be good to take or not take etc.
Pete wants you to become good and trading...he is not offering his services to build his retirement fund! I really don't know many traders who would take as much time as Pete does during the week to try to help others become better traders.
Pete,
USA,
Mar 16, 2010,
Guest

In response to Dave, UK.

I never saw him post these complaints in a forum. I don't even have the power to remove his posts in a forum. Also, my stop loss is always announced by voice and typed in the chat room. I wouldn't dare try to lie, and say I moved a stop loss when I didn't announce it. People are to smart for that nonsense anyway.

I'm am in the room during the hours posted on my site. I charge only $15 for anyone to come and try out the room. The reason I do that is so people can see for themselves before commiting to a month. If my service is of the poor quality you described, I would not have monthly subscribers as I do, some of which have been there for over 10 months.

If I ran a poor service, I certainly would NOT benefit by offering a one week trial for $15. I'm not sure why you stayed beyond that, and why you came to this site almost a year later to make false claims.

Pete,
www.myfxsource.com
Dave,
UK,
Mar 3, 2010,
Guest

I tried to respond to Pete on a well known forex forum today and he quickly had my posts removed and an infraction put against me for "flaming". I was actually trying to tell people my thoughts which I will relate here instead.
His "stategy" has no such thing as VSA, its S/R on the 5M timeframe. I actually joined his site around May/June 2009 for 2 months and found his trades to be 50/50 at best with a RR of 1:1 at best. I found it disturbing that he continually moved his SL as he was about to be stopped out and at other times after we had all been stopped out he would say "oh didnt you hear me, I moved my stop again"....what a way to trade.
Often time he would simply dissapear for hours on end or even not show in the room at all...most of us assumed he was "sleeping it off".
After a while of poor results he brought someone else in to teach another system, which you had to pay extra for in an evening seminar...at this point after 2 months I gave up. He's now touting some "secret" indicator....wooooohhh!
Bob,
USA,
Dec 1, 2009,
Guest

Ok good enough Pete. I appreciate your comments, and as I said in my original review I do think it's your intention is to help people and provide a good service.

Thanks for your consideration of my comments, and best wishes to you :)
Pete,
USA,
Nov 25, 2009,
Guest

Thanks Bob, I will certainly consider all you have said.

I'm just one person, a trader, who helps others make pips when they join me. So yes, my website might be flawed and other things as well, but I am not going for the top rated buisness award, I just want the people who pay to make pips with me.

Maybe our very conversation posted here will help people know what to expect from my service, as well as promt me to make some changes. So, again thanks. I will consider all you have said.

-Pete