investforlife
jay
nocotec“There is nothing crueler than a violation of one’s personal trust or an abuse of someone’s loyalty.” That is how an advertistment in the Sunday Gleaner in Jamaica starts. This AD raises more than just a few eyebrows it warrants serious reflections.
Background
To put everything in perperspective let us set the framework. Market Traders Institute(MTI) founded in 1994 is a sister company to I-Trade FX run by the Maritnezs, Jared, Issac, and Jacob. The MTI claims to be oldest FOREX Trading institution around led by President and Founder, Jared F. Martinez who is widely known as “FXChief”.
When David Smith launched the Olint Foundation in November 2007 according to an observer report, Martinez described the founders of the OLINT Foundation as “ordinary people doing extraordinary things ” and he himself contributed Jamaican 10 million dollars.
I-Trade FX even partnered with David Smith in the GotradeJamaica.com project.
NFA revelations
In addition, I-Trade FX is the subject of a NFA June 30, 2008 complaint that named transactions carried out by David Smith, Ingrid Loiten, Gareth Harris, OLINT TCI and TCI FX as suspicious and cited I-Trade FX for its failure to report the suspicious transactions. It further cites David Smith as a one time principal of I-Trade FX, something David Smith does not deny. (see I-Trade FX and the NFA)
I-Trade Fx is named as a defendant in the F1 investment lawsuit of June 26, 2008 against May Daisy. Ingrid Loiten of May Daisy, as mentioned before, is also named in that NFA complaint.
Later in July 2008, a United States Department of Justice letter, dated July 11, 2008, surfaces allegedly freezing the accounts of, once again, David Smith, Ingrid Loiten, Gareth Harris, OLINT TCI and TCI FX.
Schemes, Scams and Scandals
Now it would be good if the FX chief and the MTI Team would be a little clearer. The major FOREX schemes we know in to be trouble are OLINT, May Daisy and World Wise. There are other little clubs but most are basically affliates and feeders with no traders for themselves.
This AD therefore, coming at a time when many faithful OLINT investors’ faith is indeed being tried is very curious. With the secretly fearing ‘Olinters’ openly positive, and with rumours swirling that OLINT is fake and analysts pointing to scam and PONZI, this is certainly not what anyone would want to hear.
“Given the recent rash of FOREX Trading schemes, scams and scandals”, …. “while Jamaicans take greater steps to educate themselves and avoid becoming victims of any more scams.“
Those are very harsh words coming from MTI, given that it could be argued that in many ways they gave legitimacy to many of these FOREX clubs. So what is MTI doing now?
MTI Distancing Itself
MTI sorrowfully opines:
“Many Jamaicans have joined various FOREX Investment Clubs to help them take advantage of the money than can be made trading currencies. Unfortunately, It has been many Jamaicans that have been taken advantage of.”
Is MTI now distancing itself from from the ‘star’? What would possess MTI traders to place such an AD in the papers? Is it that they were tricked? Is it that they were part of the situation and are now trying to separate and say, “It wasn’t me”?
- Where was MTI when the FSC was saying, be careful who you give your money?
- Where was MTI when the others were saying, how do you know that these FX companies are not scams?
- Where was MTI when people were saying, ensure the company you are invested with is regulated?
- Where was MTI when the FSC were saying ensure that the principals of companies are “Fit and Proper” and licensed?
Another point of Interest is this statement
“At Market Traders Institute, we are not in the business of taking people’s money to trade on FOREX.”
Listen again to David Smith’s Friday July 4, 2008 interview on Nationwide.(David Smith – Interview)
“There is nothing crueler than a violation of one’s personal trust or an abuse of someone’s loyalty”. We will add, “With Friends Like These, Who Needs Enemies?”
Click here for the full text of the MTI AD that appeared in the Sunday Gleaner July 27, 2008
Sources:
- OLINT starts foundation with US$1m to help needy Jamaicans
- High-risk investors have no legal backing
Filed under: Olint | Tagged: David Smith, Forex, Market, Martinez, MTI, Olint, SCAM, Scheme |
Real Investments For Life 
investorforlife
This is a great topic. My opinion is that MTI itself is no more than a sophisticated scam. What they are doing is not illegal and most likely will never be illegal. They are just trying to garner a group of people that they can delude into the idea that sitting around day trading in FX is a viable means of achieving investment success. All of this with the hope of extracting fees as a market maker.
You imagine how difficult it will be for the average Joe in Jamaica to compete against guys on Wall Street, Bay Street, London, Berlin, Hong Kong, etc with sophisticated analytical tools, special access to information and the ability to multiply large numbers in their heads in a few seconds.
A day does not go by that I do not get some spam email form an outfit like MTI inviting me to some FX seminar. I am surprise that Jamaicans have not picked up on the fact that this is just one of the latest craze that has being going around.
people should be able to sue MTI and Martinez for their money.
Trust me it is possible
MTI – Needs the money and if Jamaicans believe anything they wrote in that ad, they may turn over even more funds to these sharks.
1. How many persons have MTI trained in the last 12mths.
2. Are these folks trading.
3. If they are , how many have made any profits?
4. How many have lost their shirts.
As far as I am concerned most of these training sessions are just another way to separate you from your cash.
I learnt from Mti thanks to Olint disocunt on the training. I make over 50% on my money per month. Once I even made 100% in a week (grant u its a small account with Oanda) Dont think Mti training alone is enough to be successfull but its a very good introduction to trading. I still have faith in David Smith. if Mti knows something I dont know, I would like them to say it, instead of that ad in the paper the other day. DISTASTEFUL. God Bless Olint!
How can you turn your back on your friend?
you use your friend name to mek yuh money
now you dash him weh?
How much “club memeber” money did that friend give you?
All help you start yuh trading company?
JUDAS!!!
Jay:
You are right on the money. My understanding is that these courses don’t come cheap! The guys make more money doing courses than they make doing Forex Trading!
I am always of the opinions that if they were such great traders, why waste time teaching courses. I had a guy working for me and he took one of these free classes. He left to trade fulltime, after buying the whole yards (software, computer, support, etc.). He told me how easy it was to do FX trading. After a month, he came back looking for his old job back….I told him to take a hike!
I guarantee you 95 % of those people that take the course have not done anything with it after doing the fee on-line demo accounts.
The other point (years of experience). If it was that easy/profitable they would not be teaching it, but would be busy making their millions. Look at all that infomercial on late night TV touting all these schemes and the back drop of these infomercial (yachts, big homes, planes, etc.).
MTI claims that they have been around since 1994, yet the only thing I can confirm says 2002! Can anyone confirm their claim?
Mi new pon this bus but I have to comment on this one. Beenie need to say a few words
That article just goes to show when a man has no spine in their “partners”.
many students have confirmed more than favorable words from Fxchief with regards to Ingrid and David…yet he comes out and makes a blanket statement like that…to me almost saying the clubs are sham.
I fail to believe all the clubs are a sham first thing…if that’s the case then Fxchief did no due diligence on these people before he started mouthing off in class.
Or he just did it to get more sales while the going was good.
Very snake-like character.
He had money for Maydaisy and Olint. DS himself said he gave Itrade cash to trade for him…so how him a chat all this bullshit.
Yow MTI tek Jamaicans fi eediot. Dem think we memory short. Yow mi vex rasta seh dis bredda a gwaan like this rasta.
A waan see one more of his packages sell in Jamaica. I wish people bun it raas!
He needs to come out like a MAN and talk the truth!
oh before mi forget “Sim Simmer” 🙂
..Who gat d key to ma limo?
….or maybe more like : who can you trust to help you make enough cash to pay for the limo 🙂
well for once I have to agree with DaveSin. a search of sunbiZ.org reveals MTI was incorporated in 2002 & ItradeFX in 2005.
So unless he was running another company or a private fictitious name or something I don’t know where the 1994 date come from for the entity MTI.
MOre than likely he’s been trading for that long but as far as we can see MTI date goes back to 2002!
That’s why USA keeps records it don’t lie!
oh and one more thing Mr. Martinez, who the hell is Bassilios Hado? What’s his relevance to our situation? Or is this just another “partner” of yours.
Next time MTI does a class in Jamaica please invite Bassilios Hado to the class so we can quiz him. We want to put a face to the name. if he knows what’s good for him he or she better run fast because if things go south you are going to distance yourself from him or her too….
I wonder if the 2 day onsite class will be sold out for the AUGUST 14th – 15th session? The Chief really emptied his bladder on David. It was totally unnecessary. It is as a result of David and Olint, that MTI came to Jamaica in the first place and was welcomed with open arms.
BTW – If my memory is correct (and off the top of my head), 1994 is the year retail forex was established. What he is trying to say is that he was there from the begining.
Nationwaide reporting the problems of another AIS
“Kingdom” come !! 🙂
Maybe there is more than meets the eye and MTI is doing some major damage control to try and protect what left of its already tainted image.
Nationwide is just reporting the failure of another scheme with ties to Olint. This scheme is run by Godfrey McAllister (missed the name of the company).
Did anyone catch the name of the company.
Jay – Kingdom Investments International Unlimited
As I posted before – “Kingdom” come
OK I got it.
KIUI Investments is the name of the company.
https://www.kiuionline.com/default.aspx
MTI is a snake oil sales man.
David West, wrote on July 30th, 2008 at 4:21 pm :
I learnt from Mti thanks to Olint disocunt on the training. I make over 50% on my money per month. Once I even made 100% in a week (grant u its a small account with Oanda) Dont think Mti training alone is enough to be successfull but its a very good introduction to trading. I still have faith in David Smith. if Mti knows something I dont know, I would like them to say it, instead of that ad in the paper the other day. DISTASTEFUL. God Bless Olint!
With people like you snake oil sales men like MTI will continue to delude people.
I hope to see you in the next Forbes 500 as the billionaire that made his money FX trading.
I know it is possible to see short term success, but my view is that your numbers are just made up to gloryfy yourself and lend ligtimacy to your post. Your numbers are really round. I live in Toronto Canada ONANDA is on Bay street send approval for me to see the transaction detail of your trades and I will believe you.
Wait…how many feeder club are there?
Beenie:
You claim that you are new to our train, yet you said,,,,”well for once I have to agree with DaveSin”
Something is missing here. Are you saying you have been reading the blog and it is the first post? Explain. 🙂
“……Kingdom Investments Unlimited International (KIUI) is an off-shore registered company (document #927999, Mercantile Section Microfiche- 520942 of the Republic of Panama) dedicated to the goal of expanding the kingdom of heaven by directly and indirectly helping to bring the good news of salvation to all those who have either not heard, not understood or not yet accepted it. It also seeks to contribute to the edification of those persons who already form the body of Christ and the Kingdom of God on earth.”…..
Now we can get the TRUTH from this christain organization….Right? Yuh done know they can’t lie…right Beenie….I know you agree with me again.
All,
Please download the KIUI information package before it is removed from the website, as it make for interesting reading.
https://www.kiuionline.com/Docs/T_C.htm
Read the Disclaimer. We see MTI again.
Man KIUI even have a logo looking like NYSE (New York Stock Exchange) with a picture of the original exchange building.
Dem people ya call dem self christian!!!
DaveSin,
Wi gone church now!! Praise de lord!!!
Seems like we have another US company which wiggle there way in JA to prey on the people…
ok I am back, and yes i scored 2 goals, looks like the prediction thing is really working out fi true.
Talking about predictions, yuh know that David was a much better conman than Ms Cleo?
So what is big about the news that another feeder club has crashed, does anyone really expect to hear that any of them survived? really now.
What amazes me is the boundaries that DS spread, if Olint had lasted one more year, DS name would have been more popular worldwide than BoB .
When you told foreigners that you were from Jamaica, they would exclaim
“ooh Olint, David Smith”
DaveSin – Yes I’ve been reading the blog for a while but you guys are a little too extreme in your views so I rarely post.
You guys don’t si Carlos Hill have free paper now!!
http://www.radiojamaica.com/content/view/10398/26/
LOL
wonders never cease.
Only in Jamaica is a big fraudest going to be allowed to travel outside the country.
Suh if for example Carlos has U$200million stashed away in Brazil, would he really return to Jamaica?
Would anyone here? Honestly now.
That is why crime will never cease in jamaica, cause the criminals know that the justice system allows them to get away with any and everything.
Small man rotting in jail & cant get bail for thiefing 2 chicken from supermarket , and a judge give a BIG THIEF like CH freedom to travel.
That judge need to go to jail if CH abscond.
does anyone notice how Olint supporters are drying up on Facebook?
Now guys read this taken from
KIUI’S CREDITOR/MEMBER APPLICATION DATA SHEET
(for Individuals)
Question #11
11. Are you, have you ever been or do you plan to become involved in any of the following? If yes, provide details:
a. Money Laundering? [ ]Yes [ ]No
b. Trafficking Humans? [ ]Yes [ ]No
c. Terrorism [ ]Yes [ ] No
d. Trafficking Drugs? [ ]Yes [ ]No
e. Other Criminal Activity [ ]Yes [ ]No
I am serious 🙂
Jay:
Those are KYC questions! What happen if I tell them that I have USD$1 million to deposit and answer yes to all these questions…do you think they would accept the money…then change all the answers to no. 🙂
David West:
How much is the “undiscounted” cost for the course and how many people were in your MTI class?
Dig a little deeper on Godfrey Mcallister.
needy
“criminal justice” is an oxymoron in Jamaica.
Bertram come man.
What a distance between the bossom buddies MTI and Olint. The differece has beennoted as “we trade on a different risk profile”
Jay
I don’t know why you are laughing at KIUI’s KYC form. The man has cut straight to the point with question 11. Makes you wonder what he needed the previous questions for.
All kinds of bossom buddies distancing themselves…what a gwan?
sirach
You are hilarious.
Needy
They must be washing their faces! nuh watch nuh face…hahahahahahaa
NEWSFLASH
Welcoming committee for Bertram to be put on by diaspora. Finally the diaspora actually does something other than provide an arena for insecure profilers. hhahaahahahahaaaaaaa
Music by: Stone love hahahahahaaha
Selector: Gimmie mi money.
Gate: the bruck pocket crew.
Proceeds in aid of the National premiere League. hahahaaaaa
Courtesy bar sponsored by CP/CH hhhahaahaaaaa
Sirach….yu sick
Gate prize: Tickets for two to the remand center where you will meet CH and some of the other “players”….one signed basket ball each.
hahahahahahaahaaaaaaaaaaaaaaahahahahaaaaaaahhahaaa LOL hahahahaaaa
A digned CH basketball…you know how much that might be worth in a couple a decades?
Does anybody know more about Jared Martinez beyond what he has created for himself. My basic research does not show much FX trading history before 2002. Somebody must know something about this guy.
The PARTY cont’d
MC: LChn
Parking lot security: DV, DC, DW et al
Special guest: BC a.k.a “di babyfadda” and his backing band the “we get it upwardly mobile girls”
Casino: DS
BACKERS: pay US$1000 (we can discount and take out of your account in instalments)
NAYSAYERS: US$10,000 up front or wire funds to Jungle Bank Belize ABM number….sort code…
At Midnight the Three Amigos the J I J band!
I cant believe that for once in my life I have nothing to say.
Here is some news about etrade being fined for money laundering
http://news.yahoo.com/s/nm/20080730/bs_nm/etrade_dc;_ylt=Aie3jq3_aRl5h8FL76K4zeCyBhIF
is the blog working
WASHINGTON (Reuters) –
E*Trade Financial Corp (ETFC.O) agreed to pay $1 million to settle allegations that two of its brokerage firms failed to follow U.S. rules designed to thwart money laundering, securities regulators said on Wednesday.
E*Trade Clearing LLC and E*Trade Securities LLC, without admitting or denying wrongdoing, agreed to settle an administrative proceeding brought by the Securities and Exchange Commission, the agency said.
The SEC alleged that from October 2003 to June 2005 the firms failed to properly document and verify the identities of more than 65,000 customers as required by several rules, including the U.S. Bank Secrecy Act.
According to the SEC order, the firms failed to identify the secondary holders in joint accounts as required by those regulations.
E*Trade is among many financial institutions such as banks, credit unions and casinos required to establish effective anti-money laundering programs under the BSA that call for regulatory reports if certain amounts of money are transacted.
Those rules are enforced by a host of U.S. agencies, including the Treasury Department’s Financial Crimes Enforcement Network (FinCEN).
“A compliance lapse of this type has the potential to undermine the nation’s anti-terrorism and anti-money laundering efforts,” Linda Thomsen, director of the SEC’s division of enforcement, said in a statement.
SEC officials said the company did not take corrective steps until two years after a key compliance deadline.
“E*Trade fully supports the SEC in its efforts to curb the exploitation of the financial services industry by those who would seek to do harm to others,” company spokeswoman Pam Erickson said.
The company, which has been assisting the SEC, other regulators and law enforcement officials, discovered the lapse in 2005 and conducted an internal audit. The results were also voluntarily reported to the SEC and other regulators in 2005.
E*Trade shares were down 4 cents, or 1.3 percent, at $3.02 on Nasdaq in midday trading.
The failure was systemic, and a lack of a cohesive organizational structure, adequate management oversight and communications among personnel in business groups contributed to the lapse, the markets watchdog said.
The company has agreed to a censure and will hire an independent consultant to verify its compliance program, the SEC said.
Did DS Identify the secondary account holders to Oanda and the other trading platforms?
If he did not, seems like there might actualy be ML violations after all.
sirach
yu wicked…trus mi….mi caan mis da party.
needy
I know that you vouch for the man’s honesty so I don’t enjoy saying this. DS is sure to have lied to Oanda as he has lied to everybody else. How and why he became a liar is for those who knew him well or loved him to maybe be concerned about.
He has been lying from day one.
Bob you don’t seem to have anything good to say abt DS…..
Not a thing. Unfortunately.
I was brought up to look for the good in everybody. I am sure DS has good in him. But I have trouble forgiving what he has done to my poor country.
Bob
he was not lying from the start. I really dont think so.
When Cash Plus emerged as his competition, and he strarted quoting ficticious rates to keep his clientele, it seems that the lying hence the Ponzi started.’
With all this the partying never stopped.
Yes you are right , he lied to us, and is still lying to us.
Beneath that the man that I knew was a good man, it seems however that he just took up more than he could handle, and did not know how to deal with it, and still does not know how to deal with it.
@defender
You must have some inside info that most investors are not seeing….Some food for thought,the biggest hedge fund manager on wall street averages about %36 intrest per year on a high risk fund and manages about $50 billion us.He has multiple top class forex traders working relentless hours along with other traders and investments.You really think that DS is so great of a trader that in 5 years of trading he never had a losing month?Also mr. DS is so good of a trader that he can do all of this while partying up and casino-ing it up all the time,a ehen him find time fi trade?If he wasnt trading then show me the persons who were because they can answer a lot of the questions we have,eg.how much $$$$ on the platform,losing trades etc….We would all love to beleive he is a super man but cmon we have to look on things realistically at some point.
New Slogan – “Market traders Inst. – We’re not from Egypt, but we’ll teach you how to build your own!”
Defender,
If this crash had not taken place DS would have been profiling at Sumfest last week, and ATI in Negril this week for sure.
When would he have found time to trade?
He would be trading aright….Trading stories with CH about whose con was wickeder…
Bear in mind that the percentage that they pay out to investors is not usually the REAL return that the fund made.
That being said you gotta be the worlds best trader to average 10% a month consistently.
When the whole Socgen thing happen…it was late January, the market was a mess…in general forex and stocks was a mess. I remember the indian market sold off so much that they had to completely stop all trading to avoid a crash. The Nikki also lost big during that month. I had stopped trading up until march.
MOst experienced traders had completely stopped trading in feburuary thats how bad the market was.
I was talking with a group of friends that also trade and the general thought that if DS can post 5% during January to Feb then he must have INSIDE INFORMATION. Low and behold January and Febuary came and Olint investors were still getting returns. Everyone thought this guy must have serious contacts.
The truth came out a couple months later. In my opinion from all the information I have heard, he probably has little or no real trading abilities. I wouldnt be suprise if MTI was doing most of the trading for him like he stated on CH. After NFA started to investigate Itrade, they completely cut him off and things went down hill from there on. I seriously doubt he himself was trading at all.
There usually are alot of people involved in these schemes. DS was just the front man. If there is some money left people need to find out who those other people are.
miachicha
if president bush sign that housing bill this week the economy should pick up within a couple months
Somethingsmissing,
The economy turned around a week ago when PAulson and ben bernake stated they wouldnt do anymore rate cuts and are thinking about rate hikes to fight inflation. That was the start of the USD rebound. The bull run in the EUR?USD might be over. 1.60 is MAJOR recesstance and it cant seem to get over it.
OIL prices are also taking a breather so that helped bigtime as well.
The market seem to got immune to the high oil prices. The usd as been rally against must of the major pairs except the gpd/usd. They dont call tmw turnaround tuesday for nothing. Oil prices might just creep back up and the USD sell off again.
I agree with you…but remember this new housing bill will pump at least 300bil into the economy,not only that but when real estate is patched up everything else will take time follow..cash will soon be running again,like in 05-06…but watch out for that selloff the brokers will trry their best to set up the trader into going long before the sellof begins..
Its NOT the broker…non farm payrols HUGE news coming friday. Trust me turnaroudn tuesday is REAL. Lets say if the eur/usd is in a down trend, on tuesday for some reason it usally dose a contertrend, meaning it goes up. Tuesday usually are countertrend days.
The market maybe range bound until nonfarm this friday. This will determine if the dollar makes a come back. If non farm come in good or better than expect I think the USD is back. espcially with the hosuing bill…thats the icening on the cake. So its bye bye eur/usd.
I forgot Oil prices, if Oil prices creep up to 130, the USD dollar will sell off again but if it remains below 130, then it might rally because of the houseing bill and strong 2nd Q GDP numbers.
Nice work Chica,
Good to know you do your homework…however like how we are all trying to learn about investments and the forex market…remember the broker always wants you to lose…
http://www.aboutcurrency.com/content/view/455/123/
read that up, anyway lets try make some pips..
Somethingsmissing,
Thats why you go with an ecn or a big broker. No “bucketshop’ operation. Like gain capital or onanda, or fxcm they have dailyfx.com forex blog that is really good. I read all the time.
But you right I had a broker that tryed to mess with me once. I knew for a FACT that they messed with my trade…Luckily I didnt panic. They cancelled out my sell stop and put me in a market order and I managed to close it without a lose. That error could have caused major loses. I was so pissed. I know brokers cannot be trusted.
Which broker would you reccomend cuz i think i have had it with fxcm…..
people here in south florida a cry cuz the banks are coming down hard for their paymenyts,DS need to send a money to sort them out.
They all the same crap….I think an ecn is the best way to go. I am looking at gain capital right now which is a broker they have a MT4 platform and also an ecn interactive brokers.
It all depends on your style of trading…I can momentium trade(is the safest way to go) and news trade. I was news trading. If I want to news trade again I have to go with a broker that has no gaps and dose instant orders like ACM.
It all depends on your style of trading, that can determine the type of broker you should use.
But remmber August is a tuff time to trade because europeans go an a 6week hiatus. The market is usually range bound and not much volitlity.
basicly go with brokers that have a high net capital
I hope if DS comes through with at least 50 cents on the dollar that we will hear persons singing his praise….though i have doubts i remain very hopefull
Miachica
u r right the markets have bn very unpredictable…esp Nov – Feb….FXCM made huge losses on their managed funds during this period.
Well I am with interbank and fxcm,fxcm has a mt4 platform but for some reason they are not taking any new clients dont know why.I wan go on vacation to maybe the keys or orlando…we’ll see.superdave send a ting nuh then maybe i can go europe…thanks for the info chica
Miachica
Traders have bn complaining big time abt the platforms meddling with their trades…..thats hugely dishonest….
Occasionaly you can blame the broker…but it depends on the style of trading your using and what the market condition is during the trade
If your news trading or sclaping then you asking for trouble. I suggest “new” traders just momentum trade. In momentum trading, only trade currency pairs that are moving heavly in one direction eg a strong up or down trend. A broker cant mess with you when your trading WITH the trend. It would be sooo obvious. Also it means you are trading with the big boys.
When people say that the brokers are messing with their trades, sometimes they dont know what they doing and sometimes they are trading against the trend.
But some brokers are evil trust me. I experience have had a few experiences.
I suggest new traders educate themselves as much as possible about momentum trading and it is the first style of trading you should master.
Olint hurting many
http://www.jamaica-gleaner.com/gleaner/20080731/lead/lead9.html
needy said: “he was not lying from the start. I really dont think so … When Cash Plus emerged as his competition, and he strarted quoting ficticious rates to keep his clientele, it seems that the lying hence the Ponzi started.’”
If he was not lying he was certainly delusional which I concede is not exactly the same thing. But it means he was lying to himself as well as to everyone else.
It could also be a good time to examine the real timeline for these schemes. For example, it is often said that Olint was operating for 5 years. Same thing for C-. These statements were being made in 2007 and maybe even in 2006.
Raise your hands, anybody, if you were investing in Olint or C- in 2001, 2002, 2003 or 2004. Let me rephrase that: Do you think there were more than 200 investors in either scheme prior to 2005?
I can tell you at least with C-, that the real history is nothing like the legend.
Olint started October 2004 as a small club between friends
Chica,
Can u make all your profit only on the prediction of non-farm payroll every month??. Meaning, only trade one day out of the month straddling both ends of the currency pair…
I just want to thank you and commend you for taking the responsibility to post not just some but ALL information that is available on these investment clubs so that the people who are involved and have invested their money with them and those that are considering doing so can make better decisions on what to do or how to approach them whether they are for or against the clubs.
Thanks You and Best Regrads,
Nuff respect !
Can someone tell me how to find the Olint feed on facebook ?
to miachica
Where do you learn that type of trading?.
Bwoy! MTI nuh easy!
there is no honour among thieves.
I have often wondered why with all the skills that the the FX TIEF whoops( Chief )possessed,why was he not a multibillioare or maybe he is.If so then his tax returns in the US should indicate,and by the way why was he spending so much time in small Jamaica…….
i need some help here.
non-farm payroll every month can be done if you know what you are doing Eur moved i think 200 pips tmes $10 a pip= $2000.00 us
$100a pip=$20,000.00us
do not need to do anything more for the month
It is called preying on the little people to build their wealth. Happens all the time..
Traderfxj,
Is it possible to make 10% to 20% a month one day out of the month, if u know what u are doing??.
yes
some traders only trade one or two day per week not every day greed is what make you loose money . A good friend of mine lost $25,000 because of greed he make a $1000.00 us a day and when he reach it he stop
I am in a trade gbpusd since 7 oclock where i have gone 180 pip times ???
Well, u have traders only trade non-farm payroll and bet on both ends and currency pair and have minimal losses every first Friday a month… Thats it!!
There is some good things about FX trading that could better help us out of the jaws of loansharks vis banks in a way that the credit union liberated black people who could not get loans in Ja in the 1940s(Jamaica Obsever article today by Michael Burke).However such initiatives will have to be taken by humble honest people not snake oil salesmem or corrupt politicians…..thoughts.
Traderfxj,
U are a very rich guy!!!
i do not want to be rich but wealthy
thre are so many people in need in Jamaica i hope i can do something to help. a friend of mine was send twenty children to school out of olint
God bless Olint!!
We all should be praying for DS..
traderfxi – how long have you been trading and are you a MTi student?
Defender – I believed in Olint and DS but with the recent non-communication from him and his team it has just opened the door for a lot of negative and disbelief.
I cannot understand why there is no timely communication.
mti student start trading live three month now demo since oct last year slow learner
Beenie,
I can’t understand how people are so short sighted. For 4 yrs ppl been benefiting from O then 6 months he ran in to problems. Now, all of a sudden he is a scam, he is canman, he is teif etc etc…. I DON’T BELIEVE IT!!
i cannot understand too .I know wayne from wolmers days and know they are good guys but proberly went in over their heads with these sharks and do not know how to swim with them
Jamaica for you crab in a barrel mentality one thing i learn if you making money in Jamaica keep it to yourself they will say you are a thief or a drug don and find some way to cut you down.
traderfxj, – Wrote on July 31st, 2008 at 10:10 am Said:
thre are so many people in need in Jamaica i hope i can do something to help. a friend of mine was send twenty children to school out of olint
defender,- Replied on July 31st, 2008 at 10:14 am :
God bless Olint!!
We all should be praying for DS..
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This is a very asinine statement. Many drug dealers, extortionist, and racketeer have sent many to schools that does not justify the activities they engage in to pay for their philanthropy.
Setting up any ponzi scheme requires benefiting a few in on order to take from the masses.
What about MLC the black china man that you all love to hate so much. Yes, the same one dem put on ebony magazine cover and hold up in Canada and the US as a successful black entrepreneur. Have you every checked out how much millions he gives to various Universities, scholarships he gives out in Canada and Jamaica, Nursing school him give money to build. Sponsor spelling be in Canada, Exam fee he pays in Jamaica. Hell, any thing you put away for your children education in Jamaica he matches by 20% (Most of the parents in Jamaica do not take up the offer just like they do here in Canada where the government match them with 20%)
Rest assured that God blesses everyone not just Olint and he is not misguided like man on earth.
Just to note i have taken loss because of greed and miscalcuation on entry in the first week of going live made it back the next week and cannot complain it takes nerve of steel to trade
I have nothing againt Mr chin he is just been a good business man crushing his competitor if that is what he is doing. matter nothing to me . Jamaica is a small country and the right information will soon get out i do not work on hear say
Traderfxj
You are either a misguided simpleton or sneeky diceitful promoter of OLINT. My certain guess is that you are the latter. I will bet you a million dollars you will never find one speck of evidence to prove your theory. Infact you have none and I think you are well aware that you have none. You are just engaged in a silly attempt to raise your dead money scheme to life. On an earlier post I have published what I consider to be a clear explanation of the folly of your investment club and I am yet to find some one like you are an intelligent mine from your camp that has attempted to respond to my presentation. I sent a revised version to one of your main supporter Mr. Wignall and he is yet to make a reply.
I am going to post it again and I want to here your response.
traderfxj – you went to wolmers too? so did I, what year did you leave?
traderfxj – just drop me an email at beenieman.king at gmail DOT com
I believe that MTI is an outright sham. Their system for trading does NOT work. They also had misleading information on their site regarding what comes with their course as it relates to mentorship. They changed it as soon as people started to query about their promise that was on the site. It’s all a load of bull.
MTI introduced itself to Jamaica on David’s (perceived) success. Week after week they published ads that basically said “We trained David and you can become like him if you buy our course”. They rode on OLINT’s back to into our wallets. Do the math, the course costs US$2,500. There were at least 100 attendees per class and there is one class monthly. They had a clear 18 – 24 month run. Add that up and you can approximate their earnings.
Next thing is that the owners of MTI are the same people that own I-Trade FX. They basically confirmed Davids success to us through their ads. If you operate a FX Trading brokerage (like I-Trade FX), it’s really simple to confirm a client’s trading success. Just look at his P/L statement. Personally, my confidence in OLINT was somewhat cemented with this apparent confirmation from Martinez.
Now that it has had it’s run and things are going south, it’s time to dump (on) David and OLINT. May Daisy and others are part of it, but we all know that OLINT was the big fish.
I am beginning to suspect that Martinez was probably part of what the objective of OLINT was…to milk Jamaicans of as much money as they possibly could. Congrats Jared, you were successful. The sad reality is that it’s quite possible that David was being used and never realised until it was too late. You should have been smarter dude cause you may spend the rest of your useful life behind bars.
That ad by MTI last Sunday was nothing short of a WICKED act. And in the midst of the ad he’s still trying to con more Jamaicans out of their hard earned dollars.
Whey di hell him expect wi fi get it from after him and David dun tek whey di whole ah wi money already !
He is to be brought on air by people like Cliff Hughes to answer some of our pressing questions. Cliff will know how fi deal wid him
If you have the time, look at the reviews for MTI and ITrade-FX at these links:
http://www.forexpeacearmy.com/public/review/www.markettraders.com
http://www.forexpeacearmy.com/public/review/www.I-tradefx.com
Likkle more.
That is agreeable i am very curious when DS stopped paying the interest?
I wonder if the Chief will be welcomed back to Jamaica in August, or will he be met with hostility, and possible confrontations?
Berto,
Could not agree with u more!!!. Well, said!!.. These US companies prey on us and then turn around and call wi eeediot!!
Educate yourself I never know anything about fx trading I went to girlfriend house about 5 or 6 years ago and saw her husband playing with charts I asked her if he does not have any thing to do why do he go find work she said they just bought a house in the states and a villa on the north coast out of his playing with the charts this long before I heard that David did this. Then last year on vacation I saw on rich and famous these guys who made it big doing trading . My wife says why do you not try it and see and here I am .Give Myself two years to learn and study it and make some money on the way
Traderfxj,
See it is there for everybody to try and become successful.. So, Banker and all those others can gwan runup dem mouth talking gaabage…
I wonder if those Martinez people ever had money in Olint? I would almost feel better if they did, I mean if they didn’t couldn’t you say that they new that DS was full of sh*t and couldn’t trade one damn?
defender and traderfx
I am a Certified Financial Planner. I trade on the TSX and the NYSE plus indirectly on other markets for a living for clients of mine. I am not fooled by people like you with your pie in the sky story’s and ridiculous dreams. I do not believe any of your stories traderfxj not because what you say is impossible but because I think you are making things up as you go along, you are nothing but a message board troll trying to make yourself out as something special. As for you defender, you are nothing but low life con artist trying to parade as someone trying to contribute to an intellectual discussion.
FOR THOSE PEOPLE INTERESTED IN TRADING:
There are lots of places that offer online classes on how to trade forex. I’m personally using leveragefx.com, for $400US you get online classes everyday which you can record if you can’t make it, lifetime membership, and MOST IMPORTANTLY FREE Software and FREE E-SIGNAL. Check them out.
I liked them b/c they do a lot of analysis of trades, and I also used my SLEAZE-O-METER to decide if i was going to unload my funds with them, they were on the lower end of the scale, didn’t seem to have an agenda whereas MTI was tipping the charts…..there was something just very sleazeball and cunning about them.
For me i had just reached a plateau in the amount of information i gathered via research online and books, and needed something more advanced which they have given me so far. I wouldn’t go with them if you’re brand new to trading and you don’t know what a ‘candle’ is. I was in class (online) one day and a student asked this and the teacher (Chris) said listen “this isn’t for you if you don’t know the basics, this is an advanced class and i encourage you to watch our videos and do more research before you start this” .
He was frank and honest, can’t be sitting there talking about candles and wasting time when other students are looking at the charts with 20 different things to analyze.
Their motto is pretty much to teach their students is “SMALL LOSSES / BIG WINS”. They’ve never guaranteed anything, and they constantly tell us “you’re going to lose money on trades, the important thing is that those losses are small compared to your wins”
That’s just my opinion, I’m sure there are lots of other bloggers here that have completely different experiences and can share them. It’s for you to do your research and find someplace that you’re most comfortable with.
I am not here to defend David i am sure he can defend himself . I am just saying it can be done .educate yourself. but not everyone will be able to trade just like not everyone can be a doctor there is free lesson on the web and just demo untill you find something that work for you .I decided to go with MTI and it works for me . I will give youannother story a little guy in the getto near my business ask me for help he did a computer course i gave him the cd i have from Mti he study it for 6 mnts and i help him open a account with $500.00 us and ge beg around and got annother five he has paid me $1500.00 after 5 mnts he started live before me he just have the nack for it
The other side of the coin i have a friend who is a charterd accountant invested $10,000.00 and start trading without education and lost every thing . Banker you need to get yourself educated go back to school
Yes Banker,
U can’t help yourself because u are apart of a system that’s design to rip off your clients which have hopes to retire with some fictitious nest egg. Just like Enron in the US..
Guys like u hide behind foreign certification a which is a legal license to screw ppl over..
I have giving my two cent for now going to get some rest for the 3am candle and the NFP in the morning
If mine were a profession that did not create wealth, we would be out of business long ago. I am not interested in a debate with either of you as I said already you are both nothing but fraud. Wealth is created by hard work or owning the means to the production of goods and services. No nation or people are going to enrich them selves looking at charts and hoping to continuously out bid someone on currency. Go find some fool to make into your next meal ticket there will be no luck here.
traderfxj:
Two questions:
1) If you had to do it over again, would you take the MTI course? Or would you use available books and FREE online sites to get up to speed on FX trading.
It seems from reading the link that Berto provided (good links BTW!!!), that most individuals that took that MTI course could have accomplish the same thing for a fraction of the cost of the course.
2) Does the MTI/I-Trade platform provide the BEST option for a novice (first time) trader or, are there other platforms/brokers out there that are more suited for beginners?
It seems to me that, based on the feedback I’m getting, a lot of people were conned into believing that after taking MTI course/support systems, they were going to start rolling in the dough. Was this the type of impression given in the MTI course? Were people warned about the good, the bad and the ugly of FX trading in these courses or was it all a rosy picture that was painted?
The other piece of this whole MTI and Jared Martinez aura is what the ROI is as far as the course is concern. Did people get their bang for their bucks?
Let’s stay on message here guys…we want to get the true picture of MTI/Jared Martinez.
Banker, on July 31st, 2008 at 12:50 pm Said: …. “Wealth is created by hard work or owning the means to the production of goods and services. No nation or people are going to enrich themselves looking at charts and hoping to continuously out bid someone on currency. “….
That, Mr. Banker is the BOTTOM LINE!!!! We all see what havoc “speculation” and the “derivatives” market are doing to the oil market and the financial system…only time will tell what the net result will be. Creating wealth from “thin air” is bound to lead to catastrophic results!
Traderfx,
I agree with you. BUT it’s important to realize that forex trading IS NOT a get rich quick scheme and most people don’t realize that, it should be approached like any other business.
Case in point, I used to be Financial Advisor (licensed etc.) and while i was great at advising clients and giving them the best service, designing the best portfolios, analyzing funds etc. I was a LOUSY salesperson and thus my client acquisition was low. Trading is a hit or miss, you’re either good at it or not and there is only one way to find out.
I saw many persons get hired after me and make $35,000US in one week off of one client (i’m really not kidding) while others who had been there for a few years not budge past $45,000US for the whole year.
You could say that Financial Advising is just as lucrative as Forex. I saw advisors 22 years old straight out of college make $180,000US their first year while others struggled. There was one guy (23yrs) who made $67,000US off of one client. Believe me I know b/c at the firm i worked at they actually posted each week how much each advisor made and their year to date totals.
So to each his own, and approach everything cautiously and with calculation. Only one way to find out if you’re good at trading and if it can be lucrative for you and that is to trade. If you’re good at it fine, if you’re not move on but at least you know, and won’t spend your time wondering what if?
You can’t blame people for taking the MTI course. They’re slick salespeople and flooded the market with ads and prophecies of DS. If all you hear, read, talk about is MTI MTI MTI then people are going to gravitate towards it.
I was just a cautious person and didn’t like their sales tactics (coming from financial services / salesperson world). I did an immense amount of research and just couldn’t answer why they charge SOOOO much money for their courses. I mean they couldn’t really be the only people on earth with this information could they? Absolutely not.
I’m sure looking back there would be atleast 80% of their students who would have not separated with their money knowing the situation now. But you can’t blame people for trying something. Maybe only 1/10 of their students actually become successful and those are the expected results for any person going into trading. You just don’t know.
Should’a-Could’a-Would’a…..that just messes with people’s brain. People just need to have a more ‘buyer’s beware’ approach. This is a learning lesson for all.
Could not agree with you more banker,only problem is you guys need to make acssess to funding for the productive sector as easy as it is,(was) to consumption,fx traders and new car purchases.
Banker
How many loans you called recently
By the way…
to say that trading is isn’t hard work is a bit shallow. I don’t think staying up all night, staring at 5 monitors, watching the news, analyzing charts, keeping up with what’s going on in the world, having nerves of steel, constantly learning more isn’t hard work.
If you don’t know what you’re doing then yes- pressing the buy/sell button looks easy. BUT taking all the knowledge you’ve garned and using that to analyze to draw a conclusion that is never 100% is quite difficult indeed.
His system does produce results but it demands a lot of you. Most traders I talk to have a problem with sticking to just one strategy and time frame. I have done the course several times, and I find I get more personal development out of it, through motivation, than anything else. He is a very good motivational speaker.
Further, most get started with a mini account (dollar a pip) but are quickly sucked into trading several lots to try and see some real money coming in. Equity management goes out the window and in no time, the account blows up (I have blown three). 50K minimum is where anyone who is serious should start IMHO.
I no longer trade by just trading the MTI way because I do not have the patience. I trade fundamental announcements with some success using MTI for exits, but again, I do not have the capital necessary in my account to make good returns based on equity management but then again, I don’t look for a percentage anymore to chalk up at the end of the month. For me anything over breakeven once I enter is considered successful……then I get dressed and go to WORK. I have two children and a wife to care for.
Do I think the price is worth it? Personally, I think yes, if you are prepared to fund your account properly. Anything less, then babypips dot com is a great resource.
As I said, he is a great motivational speaker, so when he is done with you and winding you up like a gig, you feel the sky is the limit and nothing can stop you now. That is the purpose of MTI – to wind you up. Now that you feel nothing can stop you, Jared gives you I-Trade FX, to take it all away. My advice is to use him for what he is worth, but fund your account elsewhere.
defender, on July 31st, 2008 at 8:47 am Said:
Chica,
Can u make all your profit only on the prediction of non-farm payroll every month??. Meaning, only trade one day out of the month straddling both ends of the currency pair…
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Straddle the trade? Hell no….if you not into economics and dont understand fundmuntals then diff dont trade the news. You can wait after the news to trade. Sometimes Major movements occur after fundumental annoucements.
winston niney
“acssess to funding for the productive sector as easy as it is,(was) to consumption,fx traders and new car purchases.”
Because the average Jamaica businessman is a clown
Banker, that is so not so.I am in legitimate business in the productive sector and i know the challenges as well as friends.The things that are sometimes required includes your child not yet born esp. if you are black.
Hi
Banker i have a Manufacturing business and i have an export business. I work for my money .please do not insult me .
DaveSin Idid both online at babypips.com . i think the cost is high but i have payed for the course already with what i have earned . what i can afford and annother man is different .I do not know any other broker ontill MTI so i went with them no i do not think Mti con anyone as a matter of fact and they say only 10% of traders suceed and 90% of novice traders Fail
After reviewing the cds from I freind of mine, In my opinion the reason I dont like MTI is because they basicly robed people of them $2000-$5000 and didnt really teach them anything at all. Their two day course is just forex 101. If I understand corectly if you want an “advance course” you have to pay another money?
WHat is up with this ABC formation CRAP. Anybody actually sucessfully trade using it? I thought the abc formation was a part of the elliot wave theory. ABC formations occur in currency pairs(I think) After the wave is almost complete or complete. I DOnt trade that way. How can you teach people to always trade that way when the market hardly moves that way?
winston niney
That wasn’t banker its Robin Irie.
Tell me how many Jamaican SME can:
1). Show you how much profit he made in June 2008.
2). show you trends for the last 3 years.
3). Survive the exit of the principal, i.e, can be taken over and sold has a going concern.
4). Show its net worth and hence its value at any given point.
banker and others like him you are all crazy.
The derivative market has been around for a long time. and many wealthy americans made their riches from it everyday in Chicago so what the entire speculation business in the USA is a sham. Dude get real, The CFP certification does not say you can trade, you merely advise people of the various options out there and how they fit in with their long, medium and short term goals.
You probably don’t know crap about fundamental or technical trading.
Speculation market will not go away in the US at least not anytime soon. So if you going to knock it, take your fight to Capitol Hill, join a lobby group and fight there.
Jackass!
And people this is 2008…There are charting softwares that can do everything for you at the click of a button. I dont you fib, I use support and resistance. If I wanna find the support and ressistance I just click a button and it comes up. All my MA’s are automaticallyt setup on my charts. A good charting software suppose to tell you, when the big banks are entering their trades and when money coming into the trade.
I believe that individuals can trade themselves to riches in the Forex market. I have personally met people who are doing it.
I was told about MTI and I attended their online seminars etc. I googled them extensively and found out that there were a lot of people around the world unhappy with them.
A number of things did not add up. While I was still excited about what they were offering I told a friend who is a businessman and he asked me “if they make so much money trading why are they running this training program” and even though I tried to convince him that the training program make a looot of money for them I don’t think I was really convinced of that myself or think I really had the answer to that question.
The other this that did not add up is they first offered the course to me for $6,000 . I was not going for it because I saw on the internet where people paid much less for it. When I told them I was Jamaican the price came down to $2,500 if I could provide them with a Jamaican address….hmmmmm.
the next thing is this…there are 300 million people living in the USA and only about 3.5 million in JA. Why so much effort into sales and marketing in Jamaica. Are Americans that more difficult (or easy depending how you look at it) to sell to ????
I have heard through the grapevines of people who have learned to trade successfully using MTI training . However that could just be coincidence. Some of these people may be ultimately using a different system that MTI did not teach them or are just smart.
It did not matter if Einsten lived in Germany or the USA he would have ultimately have developed the theory of relativity and helped with the development of the atomic bomb.
I met a very successful forex trader on a course that was much less expensive than MTI’s and he has been on many courses. Ultimately his success was not based on any one course he attended but the knowledge that he accumulated over time from the different courses he attended.
I would rate myself as a newby and a moderately successfull trader at this time and even though I learned a lot on the course that I attended my bread and butter system currently was not taught to me on that course. That said, there is a lot more to trading successfully than simply developing a system.
I know a few persons who have bought the MTI course and they are still reading and going through DVD’s and have not traded anything yet but are instead investing in investment clubs.
I know persons who have bought MTI course and are trading successfully but are using a totally different knowledgebase to trade.
My opinion is that anyone who learned to trade using MTI courseware did it in a very expensive way and probably got ripped off. You don’t “need” to pay for charting software on a monthly basis and all the other crap that MTI charges for monthly in order to be a successfull forex trader.
I think they used David Smith as a merketing tool and I would not be surprised if his current trading methods did not even come from MTI.
I am still very doubtfull based on what I know that the MTI course is any at all effective much less worth the money.
@beenie – LOL – totally caught me off guard.
for the charting sofware from Mti if you are with Itrade and make 500 pips in a month on a mini account or 50 on a regular account it is free plus you get free seminars twice a week on the internet i did not pay that kind of money it was $1000.00 something. the people are doing a business if you do not want it leave it if you cannot afford do not take the course.why complain you have choices Jamaicans need to accept the choice that they make and live with it
Lefty Rosenthal was such a good handicapper that the mob gave him millions to trade for them. He made them and himself millions and earned himself a place in history. For every Lefty Rosenthal there are thousands, if not millions of broken families depression, poverty, suicide,you name it.
People make millions from dirivatives and futures. That is without question.
The story that is often not told is that 95% of people end up worse off in the Forex market. People need to take note of George Soros who will bet on anything. There is no forex trader who made more money over time and his fund average somewhere in the region of 32% p.a.
If people want to trade forex its their business, but I am uncomfortable with how its present as the route to lift the masses out of poverty. If the stats hold true, 5% will end up rich while the other 95% will be poorer.
traderfxj,
for the charting sofware from Mti if you are with Itrade and make 500 pips in a month on a mini account or 50 on a regular account it is free plus you get free seminars twice a week on the internet i did not pay that kind of money it was $1000.00 something. the people are doing a business if you do not want it leave it if you cannot afford do not take the course.why complain you have choices Jamaicans need to accept the choice that they make and live with it
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I cant even make 500 pips in a month, thats CRAZY!
There plenty of places where you can get educated about forex trading for free. The only thing I pay for is the charts. A good charting software can make life easy for you. I use to stay up all night and wait for a trade. Now I only trade the first couple hours of each market.
traderfxj – you are correct, if one cannot afford their offerings just leave it alone and look elsewhere. let’s not loose sight on why we are chastising MTI. not because of their cost but because of the distasteful letter they printed. THey seemed to have forgotten why they came here in the first place!
so if I cannot afford a Benz SLK do I go and bash it? No, I say it looks nice and wish it well. I could say its an overpriced piece of crap. but is it really?
So if you haven’t tried and fully dedicated the effort to it you cannot bash it or ought not to be bashing it. We are bashing the letter and meaning behind it.
Chica,
What charting software would you recommend?
Well that works for you .if you have a regular account all you need is 50 pips/ It is not for everyone that is trading just like everyone cannot be a doctor or accountant ect
traderfxj,
Can I ask a polite question?
Its often said that trading is not for everyone. I take that to mean that its not for the 95% that lose. But pray tell; what would happen without these losers?
I do not like what was put out by them but where they talking about David . Two or so others are in limbo too. but as i said when swimming with sharks you have to know how to protect one self or get eaten i know of two other which are under the radar paying there customer 12%per month for over a year now just not many people in there
Robin Irie,
You still asking that stupid question..Foregin currency market dose not trade a trillion a day becaus eof the losers. Central banks, banks, brokerage firms, mutual funds and last retail investors all trade the forex market. The central banks, banks, brokerage firms make up must of the liquidity. NObody has to LOSE for anyone to amke a profit…You must think this is caymans park.
Robin Irie
just like the many who pay to do courses at university and dropout in the first year or that go into business and fail just life i have started business that fail. we need to take resposabilty for your own action and stop blaming someone else
Fellow Jamaicans I plead with you… Do not be lured on to the rocks of financial destruction by those singing the songs of riches awaiting the FX trader… Please I beg you find something more constructive to do with your money. About 95 % will end up poorer. These kinds of high risk ventures are for those already wealthy, not those seeking to become wealthy.
You will hear the sweet sounding song of companies like MTI and individuals claiming to have tasted sweet success. They are like the Sirens of Greek Mythology… their songs will lure you on to the cliffs of financial destruction… have we not yet had enough destruction from the UFOs.
I beg you be like Odysseus…when you hear their sweet songs tie yourself to the mast… to your bed post … or ask a trusted friend to slap you with a piece of 2 x 4 lumber… but I beg you yield not to the temptation.
“In Greek mythology, the Sirens are creatures with the head of a female and the body of a bird. They lived on an island (Sirenum scopuli; three small rocky islands) and with the irresistible charm of their song they lured mariners to their destruction on the rocks surrounding their island (Virgil V, 846; Ovid XIV, 88).
Sirens
The Argonauts escaped them because when he heard their song, Orpheus immediately realized the peril they were in. He took out his lyre and sang a song so clear and ringing that it drowned the sound of those lovely fatal voices. When on another journey the Odysseus’ ship passed the Sirens, had the sailors stuff their ears with wax. He had himself tied to the mast for he wanted to hear their beautiful voices. The Sirens sang when they approached, their words even more enticing than the melody. They would give knowledge to every man who came to them, they said, ripe wisdom and a quickening of the spirit. Odysseys’ heart ran with longing but the ropes held him and the ship quickly sailed to safer waters (Odyssey XII, 39). “
miachica
Now miachica it is oblivious you have no idea what you are talking about. Trading any kind of paper (even stocks and bonds to some degree although to a lesser extent) is not a productive enterprise. To win on one side of the transaction someone must be loosing on the other. It is exactly like Caymans Park.
traderfxj
“just like the many who pay to do courses at university and dropout in the first year or that go into business and fail just life i have started business that fail. we need to take resposabilty for your own action and stop blaming someone else”
I am not blaming anyone and I am not against fx trading. I just want you people to accept that for you to win others must lose. I think you just did that.
Happy trading.
MTI was just a trend in Jamaica…people thought they HAD to do it because everyone was doing. Some people didnt have a REAL interest. It was just the keeping up with the jones mentality that was driving it.
The truth is forex is not cut out for the AVERAGE person. Just like being a doctor or a lawyer or a pilot.
People just thought they were gonna trade and get rich by tmw. Forex is something you do because you love it. And you have to also have a genuine interest in economics and finance. You have to have a genuine interest in trading. It is not a get rich quick scheme.
You can use it to diversify your investment portfolio. You can invest most of your money in real estate, then stock, mutuals, and then a smaller percentage in to trading. Even if I make only $20,000 in one year. I thats addional income that I never robbe dand steal to get it.
If one wants try his hand a FX trading let him be..This is a free world where the wealthy took risks legal and illegal then became rich. Why when the poor man a try thing you a preach greek mythology to him!!!
Banker, on July 31st, 2008 at 3:18 pm Said:
miachica
Now miachica it is oblivious you have no idea what you are talking about. Trading any kind of paper (even stocks and bonds to some degree although to a lesser extent) is not a productive enterprise. To win on one side of the transaction someone must be loosing on the other. It is exactly like Caymans Park.
__________________________________________
Since I dont know what I am talking about…why dont you go into detail. Educate me. Please explain to me what role do the central banks, commercial banks and government play in the forex market. WHat is the main purpose for them conducting busines in this market that is like “caymans park” as you started. If your going to make a statement like that at least go into detail!
Which bank do you work for..and what is YOUR postion in the BANK if you dont mind me asking?
defender:
Because 95 % of poor man will just end up giving his little money to the rich man so that the rich man will get richer while the poor man get even poorer. That is the reality!!!
However as you say, everyone is free to make their own choice. I am being like Orpheus, singing a different song so that those who choose to listen may be saved from themselves.
nocotec – stop the hysteria man…you could have said your disclaimer a bit better than that.
Let’s state the facts here cause it seems like a lot of you mistaking facts for fiction. I have spoken with a very good contact who has been in the business of trading stocks and forex for some near 20 years now. He has worked in many facets of the trading world – at the brokerage houses, traders, etc, he has been involved
Fact one Forex is a legitimate business and legal way of earning an income. How can anyone dispute or challenge that? If you want to say its ethical or what not that’s your own conscience to deal with.
The sad reality is as my contact said and from his personal intimate knowledge most new comers loose their trading account in 6 weeks, that’s 90% of what he has seen. WHy is that? because the brokers robbed them, or hunted their stop, or forex is a scam? Absolutely not, because they don’t have the education to trade the market. They heard the wonders but they don’t truly have the discipline and knowledge.
This gentleman is living testimony that there are successful traders out there who hone their skills and keep it simple and are discipline.
The fact is most people do not have the patience and diligence to truly learn this business and they fall in the category of the 90% who blow their account in 6 weeks and then give the business a bad name.
So quit the bullshit about FOrex this and forex that. If you don’t learn something you cannot truly speak especially when I know of people who are doing well at it. IF this guys wants to buy a helicopter sure he did, that his business and that’s what he did.
SO if someone wants to try to learn it, let them. but don’t go blaming the tools when it fails just because you were impatient to put the work in.
you cannot become a doctor in 2 years, can you now? even after coming out of med school after 5 years you still don’t know too much. It takes practice and experience. The same in forex and life in general.
miachica – Don’t argue with Banker he has subtly stated to me above his limited knowledge.
I bet if you ask Banker how much (%) of the currency market does the spot retail FX occupy he cannot answer this question.
That’s why he made that silly comment.
A lot of people thinks the forex brokers as they see make up the “currency market” That’s so not the case.
I want BANKER to answer that question for me then I will truly know if he has sense to even be able to research that figure.
THe currency market and trading is not about every winner there must be a looser.
Some people just love to show empty barrels make the most noise.
Beenie,
Some people are so need to learn that if your ignorant about something you need to educate yourself about it.
If you can an OPINION dont try to past if off as FACT.
Now I see how MTI could come to Jamaica and rob people of $5000 LOL!!!
Nocotec
Debating with beenie, traderfx and defender is like speaking to a brick wall. These folks already have ingrain in them many preconceived ideas that cloud their judgment.
Take for example defender’s last post it is what is called in the debating world a straw man tactic. Nobody ever says FX trading is illegal or people are not free to do it. In fact, it is one of the reasons why many folks have always questioned the secrecy of David smith or his refusal to be licensed.
He comes right back to your point which many of us are at pains to explain that this is a risky endeavor and requires skill and experience. However, snake oil men like MTI feed on the unsuspecting public to make a buck trying to sell this as some get out a poverty card.
no really mi want this Banker bredda answer mi question. Know him claim to have big big CFP certification. Dude I know the certification, and very well too. I also know the CFM, CPA and CMA. DO they have any direct correlation to Trading and trading forex – NO. In fact I know CPAs who advise clients to be very careful about trading. Some don’t even like to trade. Everyone has their personal opinion. but when you come on a community blog as if you are master of a domain and its clear to a few that your conversation does not depict or illustrate facts be prepared to back it up when challenged. So, to that extent I am challenging BANKER to come with at the very minimum the answer to my previous question.
Banker over to you!
No, you should ask Banker how many depressing phone calls he has made to his clients when the market dips and half of their retirement money gone down the toilet… When his institution gives him a pat on the back and a wonderful bonus at the end of the year…
Beenie
The first thing you need to do is phrase your question properly and use some modicum of standard English so I can understand what you are talking about.
Beenie wrote
bet if you ask Banker how much (%) of the currency market does the spot retail FX occupy he cannot answer this question.
Do not hide behind jargons they do not impress me. “I guess you are asking what percentage of trading in the currency market that is done by retail investors.”
Now I am sure the average lay man understands that. I am not a FX trader I do not know except to say it is a very small percentage that is growing and it is possibly still less than 1%. Rest assured that your sources do not have a correct measure either.
new here
take it from someone who has been to the 2 day classes. 3 words. WASTE OF TIME. more words: RIPOFF , Scam, rubbish. i can tell u that if the class is from 9-5…. half of that time the fxchief dude dont teach nothing but promote ITrade FX and David Smith. Them teach some crap that cant help u do nothing. ABCD waves. Fibo stuff ect, basically free stuff on the net and MOST IMPORTANTLY…alwayssss use historical charts with some huge timeframe like day bars that nobody really trades unless u have lots of capital. :@ getting screw thinkng bout dat waste of time and money
defender, on July 31st, 2008 at 4:03 pm Said:
No, you should ask Banker how many depressing phone calls he has made to his clients when the market dips and half of their retirement money gone down the toilet… When his institution gives him a pat on the back and a wonderful bonus at the end of the year…
Luckly I have not had to make any depressing phone calls but I do see your point. You are correct but in our business the risk are outlined and I do not sell my clients on a pipe dream.
Banker
I have to agree with miachica here. I have never done currency trading, but common sense would tell me that it is not gambling like Caymanas Park.
If it were the Big Banks and instituations would defianately not be invovled in it.
Well it might not be gambling out right. However, in the sense that winning on one side of the transaction involves a loss to someone else in the market makes them similar. Gains in the currency market do not come from the production of goods or services. When you make money in the market it is not from an increase in wealth but from a redistribution of wealth.
I think a lot of the naysayers of Forex are overestimating what a typical trader is expected to make:
Do I think that in one year I could turn $5000US into $1mil. HELL NO.
But do I think that eventually, in the next few years (lets say 7yrs) after making lots of mistakes and learning more that I could make a reasonable income say a solid $100,000US – Definitely.
The problem with MTI is that they give you the impression that you’re hitting the jackpot with them and that usually never is the case with anything – although it can be possible.
Like i said before, just like how some of my former colleagues at my old firm hit $180,000 in their first year there were 10 times as many that could barely make $50,000.
You’re either good at it or not. You either have the tenacity, discipline, smarts and guts – or you don’t .
Almost everyone can drive a car, but I’m sure that fewer than 1% of the population can be a Formula-1 race car driver – BUT THEY DO EXIST DON’T THEY?
miachica,
“You can use it to diversify your investment portfolio. You can invest most of your money in real estate, then stock, mutuals, and then a smaller percentage in to trading. Even if I make only $20,000 in one year. I thats addional income that I never robbe dand steal to get it.”
Now we are talking but I still maintain that we must let people know how unlikely it is to make money before they take to plunge.
I am no fx trader; I am an accountant working for a multi national operating in 10 EU countries + mexico + Australia. Our parents are HQed in Detroit.
My team move big money and we use the fax market to ptoect ourselves from currency movement. Unlike you our aim is not to win but to arrive at point zero so we bet with our fears. That how we see it; taking a gamble.
If we lose we hand over money but that would mean that our underlying transaction has been protected and we are at point zero. The opposite is true but we know that if we lose someone wins and if we win someone loses.
Is k and Beenie the same person?
junkunno
“You’re either good at it or not. You either have the tenacity, discipline, smarts and guts – or you don’t .”
You could add luck.
“The buzz in the City is that George Soros, the greatest speculator of the age, is betting heavily that the Footsie will plummet. Amid echoes of Black Wednesday, this could be a self-fulfilling prophecy.”
http://www.thisismoney.co.uk/investing-and-markets/article.html?in_article_id=447606&in_page_id=3
Now can the Futures expert read this article and tell me that this is anything but gambling?
fact the Gbp/usd moved over 200 pips today if you know what you are doing at one standard lot at $10.00 that is $2000.00 if you had more to invest????
“Is k and Beenie the same person?”
I think so. Seems he forget he’s on the train and not the bus.
traderfxj
Hindight is always 20/20 and as nocotec said facts are useless in speculation because the opportunity has passed.
The real issue is this: What is the probability of predicting this more often than not?
Robin Irie,
You cnat say something is gambling base don a article. Come on now!
Have you ever met a futures trader?
Maybe you need to meet a ftures trader and as him or her about the market befor eoyu jump to coclusion base don facts.
I dont trade futures but my uncle trades oil futures. He was making a killing off the bull run. The money he made of off oil futures help to with loses he made on his stock and mutual fund investments.
Investing in itself is a RISK PERIOD. I knew people that were flipping houses and condos during the real estate boom and have had to file for bankrupcty. IN MY OPINION it is HOW you invest that determines if you come out with a loss or a gain.
miachica
I think you are getting wrong. THERE IS NOTHING WRONG WITH SPECULATING.
Sorry to shout but now that it is clear that we agree on that point can we leave it be? I know future traders because I have friends who work in the City.
Now please tell me how placing a bet that the LSE will crash is not gambling?
One more thing, isn’t FX trading futures?
Robin Irie, on July 31st, 2008 at 4:45 pm Said: ““Is k and Beenie the same person?”
I think so. Seems he forget he’s on the train and not the bus.”……
I knew it was him/her from yesterday 🙂
K is one of the biggest detractors of this train. If you look at the time stamp between the post on this site and the other you would understand why he forgot to change his “Name” info. Its interesting how he claim this site is at the “extreme” site, yet all of suddenly he/she has become a prolific post on this blog…..I wonder who is the JACKASS now K?
Robin Irie,
He diff comes off as a gambler. I thought you were talkign about futures trading on a whole. My mistake.
DaveSin
Its cool man. We welcome all views on this train
Robin Irie
One more thing, isn’t FX trading futures?
—————————————————————————
ForeX spot trading
The purchase or sale of a foreign currency or commodity for immediate delivery. Spot trades are settled “on the spot”, as opposed to at a set date in the future. Also known as “cash trades”.
Forex Futures
An exchange-traded contract to buy or sell a specified amount of a given currency at a predetermined price on a set date in the future.
One thing that I am glad about is that FINALLY everybody here is now moving on from Olint & DS.
Good work guys
miachica,
But isn’t it the later where you make your money?
Big Supe get bite fi coruption. Yeaman
Robin Irie,
Futures trading is diff from spot trading. Thats a whole other topic. I dont do futures trading.
DS & Olint will be fine!!! He just has to work out things, give him some time man!!!
miachica
We do future trading but like I said above our aim is to get to zero.
defender
What happened to Wignall’s expose?
I used to do futures trading with Ken Robinson. Gold, Coffee and Oil. Lost my shirt!!!
I notice Wignall him quite!! Na se nothing!!!
The Surest Sign that Intelligent Life exists elsewhere in the Universe is the fact that They have not tried to contact us.
Thank you Mr Smith. We will await you exoneration and your return to trading for us poor folks for as long as it takes…
Unu no have nitten fi seh bout di big Supe we get bite?
People people EVERYTHING is a gamble:
1. Eating is a gamble: you could bite your tongue, chip your tooth like i did eating potato chips – but guess what? I still eat potato chips, or you could choke and die.
2. Driving is a gamble: especially down here with all the illiterate taxi and bus driver et al and all you want to do is shoot them. But sometimes you have to let it go b/c when them rass your benze dem don’t have SHIT TO SHOW for insurance.
3. Walking is a gamble: b/c nuff people get lick down by car.
4. Owning a dog is a gamble: b/c one day you’re trying to prevent your poodle from certain death by him wanting to kill the rottweiler and you try and stop him and he turns around and bites you real hot and you have to go to the hospital for a painful tetanus shot (happened to me)
5. Cooking is a gamble: b/c you might drop the knife and it lands on top of your foot and you’re bleeding profusely and have to go to the hospital (happened to me)
6. Sitting by your computer is a gamble: b/c a bee might fly in from outside and sting you on your thumb…of all places (happened to me)
7. Sleeping is gamble: b/c somehow a baby scorpion ends up in your bed crawls up your leg and bites you on your rass hip (happened to me)
8. Real estate is a gamble: nuff people buy nuff house in florida to ‘flip’ and dem get ‘flop’ big time.
9. Driving is gamble (part 2): b/c you could be on the highway (i travel nuff you see) and the next thing you know one RASS plane crash landing beside you!!!!!! (happened to me – for real…was in florida last year on I-95)
10. Oh yea, forex is a gamble too.
But then again, everyone has to take that risk. By the way, I love these lively debates, love to read everyone’s opinion.
Robin Irie:
You know about the Jamaican Police Force, it should come at no surprise. Why do you think the people in Jamaica do not give tips to police?
If you want to know whats going on in the upper ranks of the police, watch the overseas trip and frequency and who they are on the same flight with 🙂
DaveSin
Its the first time someone above the rank of Sarge has been nicked.
Its a step in the right direction, shows that Hardley nah ramp.
Yeaman!
Robin Irie:
Normally they allow the bigger guys to retire silently. I’m surprise they did not let him go quietly like the music promoter.
That deh Super well corrupt from long time, everybody know that.
Mi know nuff man who used to bribe him,
Then again mi know much more of them all DCP them that used to get bribe all the time and still a get it
guys Beenie is really K’s cousin I jumped on his PC to make the last post and forgot to make the name change. We are not the same person. you guys jump over every little thing don’t you.
Yes for real ! Nuff a dem a criminal in gov’t uniform !!
Beenie the drivah and the core group do not care if you are K or not. As you may have noticed, a major reason this train is so popular is we welcome all views… only views violating the rules are deleted and no one is banned for merely expressing non-majority views… by the way drivah even deleted one of my posts for what he deemed a violation the rules 🙂 See we do not discriminate.
Blog Stats – Invest4life 318610 Hits
Real Investments for Life 316535 Hits.
By the end of the week investforlife train will be overtaking invest4life bus 🙂
You dont see the #4 bus turn subway? Them riding underground now. Going by Email. I dont think it make sense to study the blog stats too much. Anyway for you guys this is a JOB but for driva over #4e is like a little hobby. You dont see him dont take on anybody even though you guys keep throwing stones over there.
The fat lady is ready to speak by saying,
money laundering,
securities fraud,
but the fat lady has not sung yet.
The chinamen can’t hide from Uncle Sam.
I know we beat this MTI thing to death but a friend of mine confirmed that MTI used to send out ads about how they trained David SMith now they are putting out this crap.
It further shows they are cutting off nose to spite face.
I hope Jamaicans see them for the crap they are now putting out there yet they expect them to continue pay for their course and fill up their classes.
THey are now diverting attention to Trinidad. I hope the Trini posse do a bit of homework on these folks before doling out their money
AML:
I undertsand the money laundering piece, but the issue of securities fraud is quite new. How do you explain that angle?
DONTGIVEADAMN:
For all we know…. you might be the driva of that bus. Are you?
The danger of paper profits
“The decision to rely on ‘risky’ investments to main-tain a lifestyle of course is one groun-ded in stupidity, as even if a risky investment is legitimate, the fact that it carries such a high risk means that one cannot prudently expect it to continue forever.”
http://www.jamaicaobserver.com/magazines/Business/html/20080801T010000-0500_138513_OBS_THE_DANGER_OF_PAPER_PROFITS.asp
Here is the thing: why is it that no other group or persons have attempted to enter Jamaica with similar training sessions like MTI? If over 100 people are attending these classes @ at cost of $2,500, I find it hard to believe there are no additional interest.
What about that outfit Capital Blu? I would think they would want a piece of the pie and would probably do a better job that the Martinezs’.
An interesting and related subject (Tax Evasion/money laundering):
Caribbean tax havens under attack in US Senate
By Barry Randall
Friday, August 01, 2008
http://www.jamaicaobserver.com/magazines/Business/html/20080801T010000-0500_138516_OBS_CARIBBEAN_TAX_HAVENS_UNDER_ATTACK_IN_US_SENATE_.asp
I find this very interesting. MTI is basically a large marketing company. They teach people “how to trade” and try and convince them to buy their proprietary trading platform which of course, at a cost.
This sounds like President Bush’s speech on the US financial markets – “Wall Street was drunk”. My question is why didn’t he take away the bottle?????
Same thing with MTI – it is easy to look back and formulate an opinion. Hindsight is always 20/20.
It is very possible to make these returns but it appears that most of these traders have violated their trading plans and gone against their better instincts, along with having a lack of knowledge on how the operations of a hedge fund work. We are yet to know the truth – on 5% of traders make it.
@AML or any body
Capital BLU the other day came up with a 59% or something like that return for one month and then showed us some a barely known Chawla accounting firm. What you think about them?
@Beenie
Can anybody who got those ads with from MTI with a promotion saying they trained David Smith forward it to hyipmyths [at] yahoo [dot] com
DaveSin
That’s the point I was touching on a while back. The IRS and participants of the World Bank were not getting a piece of the pie. Do not get me wrong – I am not saying that DS hasn’t effed up the money but this is what you would call the perfect storm. This combination of internal AND external forces is formidable. And for those of you who scoff at the idea the World Bank/IMF has made it absolutely clear in no uncertain terms that these types of “schemes” are to be SHUT DOWN. And they have a very long arm.
@Mikki
After the damage that Ponzi and Pyramid Schemes did in Albania, I can’t wrong them for having that opinion
Read, Warren Buffett, Ponzi Pyramids, and Albania,
http://www.jamaica-gleaner.com/gleaner/20071202/focus/focus2.html
Pickachu:
Could you remind US again why Bush said they were drunk?????
Mikki,
U hit the nail on the head.. These forces are watching and they want DOWN!!. The rate the US going soon the entire caribbean will be paying US tax money..
Any Scheme that is a SCAM, PONZI or PYRAMID must be shut down.
Davesin you funny. When it suit you everybody is the same person. haha .The only thing I drive is my little Toyota boss and little old boat I have. Move on from them reasoning now. Plenty of the posts here and there make good reading ease up off the petty rubbish.
Mikki:
I actually posted the link/article to show that if DS has funds in Trust in TCI or elsewhere, it’s almost impossible to penetrate/freeze these funds. The ownership of these trusts is very difficult to ascertain……that is the point! Personally, I don’t think TCI have access to DS many millions and hence the funds frozen in TCI are small potatoes. What do you think?
DONTGIVEADAMN:
It was meant as a joke, but you also totally miss the point! The point is how do you know the “driva” doesn’t post on this train?
BTW, that little Toyota of yours could be the #4 Bus? No? 🙂
DaveSIn
Short answer – there is no money for club members – period. We can all pontificate, if, and, or, but that is the bottom line in my opinion. As far as trusts – the very reason people create trusts is to create ambiguity and make funds inaccessible in order to retain wealth.
Having said that – I keep reading this blog because at some point what really happened will be covered here and I STILL want to know what really happened.
Did you guys read Dennis Chung article.
Some of the very same sentiments written here, was expressed by the “Banker” yesterday.
FYI:
Florida man charged in plot to kill IRS agent who was auditing him
Associated Press
10:23 AM EDT, August 1, 2008
MULBERRY, Fla. – Federal authorities have charged a 48-year-old construction company owner with trying to hire a hit man to kill an IRS agent who was auditing him.
US Treasury investigators said Randy Nowak wanted to avoid paying $300,000 owed to the IRS and was worried an audit would turn up $4 million he had stashed in an offshore account in Jamaica.
According to an affidavit, Nowak hired an undercover FBI agent for $10,000 to kill IRS Agent Christine Brandt. Court records also reveal that Nowak discussed burning down the IRS office in Lakeland with the undercover hit man.
Randy Nowak of Mulberry is scheduled for his first appearance in court today.
http://www.sun-sentinel.com/news/custom/fringe/sfl-0801plottokill,0,6283807.story
Seriously (comment from one reader):
Boynton Beach, FL Reply »
|Report Abuse |#20 26 min ago
“Liberals Suck wrote:
he stashed $4 million , but didn’t want to pay $300k in taxes……… what a greedy dimwit.”
Response:
I hope he didn’t stash that money in National Commercial Bank in Jamaica, if he did so, he’s sh..it out of luck…that bank is not insured by the Feds :-P. The Jamaican -Chinese that owns that bank probably spent his money already!
The 4 million was not all of his money. The money went to Olint. People will do desperate things in desperate times when you don’t receive your money back. This is happening in the US but what is happening in JA.?
@AML. How in the world do you know that? Do you know him?
AML:
Are you serious abou that claim? Are you saying (base on what you are hearing) that he was a “pig” and the $4 million was sent to Jamaican to be invested in Olint? Are you also saying that the $4 million is actually in Olint’s account and not sitting in a bank in Jamaica at this point in time?
AML,
Please prove that one.. This is how the big O get bad name!!..
The government is saying 4 million. I only know of at least 1 million. Yes he is a pig with his own money in it of at least 500,000. If this is the same contrustion company owner that lived around Boynton Beach, I have the right person. Remember how did the “special business men” asked David about “show me the money” of them knowing the NFA complaint before anyone else. The fat lady has not sung yet.
As usual, AML drop these bombshells and disappear. AML…you should say what you know and answer the other bloggers questions, otherwise people might start impugning your motives. What do you have to say?
I am waiting the the chinamen to be caught. The fat lady has not sung yet.
The chinamen has the jamaican people’s money.
Randy’s construction company is called “R.J. NOWAK ENTERPRISES, INC.”
Now, he is NOT a licensed contractor in the state of Florida, nor is company a licensed entity (Construction related). This would lead me to believe that he is doing “other” construction related business (example hualage contractor, a subcontractor, etc.) that does not required a license or there is another business that he is associated with that does not bear his name.
Read,
Now where is the big O in this article??.
http://www.theledger.com/article/20080731/NEWS/807310450/1410&title=Mulberry_Man_Charged_With_Trying_to_Have_IRS_Agent_Killed
AML:
Who is the “chinamen” you keep referring to?
The Contractor out of Boynton Beach, what kind of contractor is he? Is it a “Construction-related” business?
Hey, did anyone notice the popdown bus on the side of the road… the train just blew past it… 🙂
319,235 hits to 319,148 hits
Nocotec:
I think you have it backwards…they say “train” is the popdown “bus”.
Re: The train flying past the bus…..
Congrats to the authors, posters and silent readers..
@AML, I would love your opinion on Capital Blu.
a) that unknown auditing firm leaves much suspicion
b) 59% return in month is of interest…
Their entrance and interest into Jamaica earlier this year caused a stir…. but then they retreated….
Sorry wrong construction company owner. Everything else is true.
ok I was reading the MTI letter again and where they made mention of Bassilios Hada at Chez Maria Limited.
I decided to just google them and their website is http://www.chezmaria.com.jm/
that paragraph does not say this gentleman is making money at forex but that “he sees the potential for profits on the forex”
There is no doubt that there is great POTENTIAL as there is at stocks or trading gold for that matter. The question is whether Bassilios is using MTI successfully. If you dissect the paragraph carefully it does not state that Bassilios is even using them! It just states “he learned MTI was an international organization, teaching people all over the world how to trade currencies on the FOREX”
So what was the significance of even including reference to this fellow. Is he a big wig in Jamaica? I’ve never heard of him before.
Congrats to the all aboard the investforlife train.
Keep it rolling guys. !!
@AML, Thanks for the clarification, very gracious of you. Indeed it was the WRONG construction owner . That is why we need to be careful with our accusations.
Just some notes on the matter…
1. Polk County is Central Florida.
2. Randy Nowak, according to the court documents lives and works in Polk County.
3. Boynton Beach is in Palm Beach County in South East Florida.
AML, we still waiting on your opinion on Capital Blu. SCAM or NOT?
Email us at hyipmyths [at] yahoo [dot] com and tell us about the “chinamen” and the “real construction owner” we will follow it up.
“Meet Bassilios Hado”
Market Traders Institute has been in trouble in the U.S. with testimonials and false testimonials.
“We are an institution”
They are not an institution, they are a company.
“I also learned that MTI was an international organization, teaching people all over the world how to trade currencies on the FOREX”
Market Traders Institute has been banned from doing business in Australia. They are not allowed to teach in that country.
The FX Thief was a wanted man in South Africa for fraud. He might be still wanted in that country.
who is the chinamen..give a hint…just something they do business wise or something significant that anyone would know..you dont have to give intials.
If you don’t belive me then
http://fido.asic.gov.au/asic/asic.nsf/byheadline/04-258+Orders+obtained+against+unlicensed+forex+trading+educator?openDocument
http://www.fido.gov.au/fido/fido.nsf/byheadline/04-272+Orders+obtained+against+unlicensed+forex+trading+educator?openDocument
Trust me, I believe you..but who is one of the chinamen. Is it judas himself?
Dirty secrets in the FOREX industry that MTI will never teach you.
When you trade with I Trade FX, MTI will receive about 1 or 2 dollars for every trade(roundtrip) you make in a 100K account. If it is a mini account, that is about 10 to 20 cents.
Even if you sign up with FXCM or FX Solution through MTI, MTI will make those profit from you. Even if you loose on your trade, they will be paid.
So everyone who has an I Trade account, call your broker(I Trade FX) and ask how are the paying the IB on your account.
Then ask yourself, why do I have to pay so much for the education? If they are going to train me as the best trader in the world and they are going to profit from my trading, why pay $3000 to $5000 USD.
So everyone who has an I Trade account, call your broker(I Trade FX) and ask how much they are paying the IB(Introducing Broker) on your account.
MTI
The GBP/USD 120 Trend Setter Trading System
11,338 Pips Captured Since May 2003
Disclaimer:
HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IN THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION, HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR TO ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS.
I plain english, our results are fictitious and you my severely lose your money in real trading. This system was not around in 2003. Any verbal claims are also fictitious. Have they ever told you verbally this disclaimer?
In plain english, our results are fictitious and you may severely lose your money in real trading. This system was not around in 2003. Any verbal claims are also fictitious. Have they ever told you verbally this disclaimer?
CAPITAL BLU MANAGEMENT, LLC
http://www.nfa.futures.org/basicnet/Details.aspx?entityid=0381906&rn=Y
What happened to Damien Bromfield?
What happened to Blayne Davis?
State of Florida has them as LLC.
NFA has them as a GENERAL PARTNER (In Florida this would be GENERAL PARTNERSHIP/LLP).
Why are they having problems with INTRODUCING BROKER STATUS with the NFA?
• INTRODUCING BROKER PENDING STATUS WITHDRAWN 06/11/2008
• INTRODUCING BROKER PENDING 03/18/2008
• INTRODUCING BROKER PENDING STATUS WITHDRAWN 11/28/2007
• NFA MEMBER APPROVED 10/10/2007
• COMMODITY TRADING ADVISOR REGISTERED 10/10/2007
• COMMODITY TRADING ADVISOR PENDING 10/03/2007
• NFA MEMBER PENDING 03/23/2007
• INTRODUCING BROKER PENDING 03/23/2007
This is similar to problems the Jared Martinez had with CURRENCY TRADERS INC NFA ID: 0339549
http://www.nfa.futures.org/BasicNet/Details.aspx?entityid=0339549
• NFA MEMBER PENDING STATUS WITHDRAWN 07/06/2004
• INTRODUCING BROKER PENDING STATUS WITHDRAWN 07/06/2004
• NFA MEMBER PENDING 04/15/2004
• INTRODUCING BROKER PENDING 04/05/2004
Have CAPITAL BLU MANAGEMENT show an audit list of all account and trades. See if the NFA has audited them. Do they make money through an IB program with another broker? Do they only get paid when you make money?
AML,
You seem once again seem to have a “truck full” of information.
We are listening
Everone of us has a piece of Olint’s history. We need to come together into a like a Wikipedia to document the history of this scam.
The lawyers, governments, money launders, and politicians are going to bury this trying to keep their name clean or take what piece of the pie is left.
People won’t talk to the government to help them to find the money because they might get caught up in this mess. There is a lot of money that is being hidden or not being given back because of criminals involved.
The wikipedia is more anonymous than this forum and this forum is not built for alot of information and documents.
Alot us have emails and document over the years of how and where the money(investments) was moved through the international banking system and where they should have ended up at and what was the final names they were in. I know the history of the MTI group. There is property in Panama that Olint has.
It is the poor people who has really lost out. Pigs did it for greed and the piglets will eat the pigs. The middle people thought it was a good investment because everyone talk about it and said it was good.
For the rich, some have money to burn. For the smart and rich, these documents are quite comprehensive. For the super rich, there are corrupt lawyers who will write masterpiece of a document that will screw you and you cannot touch these people.
It is your job InvestForLife to find us a wikipedia so we can find the money because some of us do know where some of the money is at but we don’t have the big picture of what other companies and countries are involved.
http://boomp3.com/listen/byus400iv_n/ds-interview_provider-investforlife
Start 3/4 of the way through and listen.
Remember that David said broker won’t release the funds. He said is due to contract issue. The criminal(money launderer) is playing games with David.
AML,
SO I was right it is him after all
Hey popcorn man, I have a script for you.
Mr.Olint: thinking to himself after 1st or 2nd FSC raid “I need some help with my trading club because I am losing members and having a run. I know who will help me is FX Thief because he taught me.”
FXThief: thinking to himself “I am having problems raising 1 million USD for my new broker company. I know I will call SD because he has a trading club and money and credibility problem and I know how to fix credibility problems.”
FXThief: “Hi SD, I can sell to your clients for $2500 so they can just be like you, SD. For the $2500 education you will receive a 35% kickback.”
Mr.Olint: “The money can come out of the client funds and future interest. You must sell 400 client and I will give you my clients list. I need you FX Thief to make the calls since LewFam is busy calling for new clients.”
FXThief: thinking to himself “I have a new country to invade and reap. Lax laws and everything operates by mouth.”
To be continued…
miachica,
David did not name the broker and the people holding the money is not a broker but they might be the same people.
People know this information. They are the ones who are in the know and got there money back so they are not gonna talk. The only people who might talk if things get really bad is who get leff?
why you think certain people got there money plus interest and others didnt?
Keep the information flowing brother, I am all tuned in.
“So everyone who has an I Trade account, call your broker(I Trade FX) and ask how much they are paying the IB(Introducing Broker) on your account.”
Wait, are you implying that an IB agreement is illicit? Practically every single broker has IB agreements – you can call them and ask. They’re not going to disclose to you the details, because they have a contact and most likely a confidentiality agreement. So its a strawman argument to tell people to call and act like the answer itself means they’re doing something illegal when in fact, if you know anything about IB agreements, you know they probably can’t provide an answer or they’ll merely confirm what everyone in the industry does.
It doesn’t make you more or less likely to lose money that the broker has an ib agreement. In fact, logically, the ib would want you to trade more. Example:
ib makes 1 pip out of every single trade you make. spread is 2 pips. the broker is probably not happy about this, but they get clients. That’s why every single broker does it – to get more business. Lets not pretend the broker at any location, be it retail, a bank or what not is interested in being a charity. They’re here to make money, or they wouldn’t be in business.
that means if you make a trade they make money. what do most people do if they lose money in the forex? eventually, they stop trading. now, whether you think mti’s education has value or not, if they have an ib agreement, they don’t make money unless you trade. So they’re going to want you to think you have value on your education – whether you do or not is kind of up to you. at the end of the day, if the client doesn’t feel confident, that client will not trade. the ib (whether mti or someone else) does a service for the broker, be it I Trade or FX Solution or FXCM or Oanda or whoever – that’s why they get paid, because they brought a client to a specific set of brokers. To act as though this is somehow illegal or wrong breaks down a basic rule of business – if I provide a service, unless I’m a charity, I’m probably doing it to get paid.
They get money for providing the education – the client decides if that has value. Seperately, they get money for providing a client to a broker or a specific set of brokers. These are seperate services, not the same thing. At the end of the day, any ib client could go to any broker, or just plain not trade at all. that’s their choice.
This kind of post is misleading, because it implies that I Trade FX is doing something that no one else is doing in terms of having an IB agreement. On almost any sight where they solicit business for a specific broker, there’s an IB agreement. I can go onto google and find a zillion for FXCM, FX Solutions, Interbank FX or any broker including I Trade FX.
Of course, AML doesn’t actually want you to think about that part. I wonder why? Granted, if I understand these forums correctly, I’ll now be asked “Who do you work for?” because that’s an easier way to challenge than actually stating why mti’s ib agreement with multiple brokerages is so much different from a zillion other ib agreements out there.
“Have they ever told you verbally this disclaimer?”
Has any group every verbally told you a disclaimer when they have it written?
No business would ever read you a disclaimer verbally if they have it written down. That goes for any business. But again, don’t let me discourage you from your soapbox, ranting about things that don’t actually prove anything.
If you want to assault the actual signal itself and show where its faulty in terms of how it puts up signals, that would be a more legitimate complaint.
Granted, we could look at FXCM’s signal selector disclaimer:
“Past performance posted by Signal and Systems Providers (“Providers”), is not necessarily indicative of future results. No representation is made that any account is likely to achieve profits or losses similar to those shown. In fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particularly trading program. The composite monthly results are primarily hypothetical results of the master demo and its representation of the Providers, though performance results displayed may represent a combination of live and hypothetical results and are not exclusive to either. There are numerous other factors related to markets in general or to the implementation of any specific trading program that cannot be fully accounted for in the preparation of hypothetical performance results and all of which can adversely affect actual trading results. In the event that specific trades were simultaneously executed in hypothetical and live, real-time trading, the lesser of the two results will be displayed. There is no guarantee that one applying these methodologies would have the same results as the hypothetically posted. Since trading successfully depends on many elements including but not limited to a trading methodology and a trader’s own psychology, the web site does not make any representation whatsoever that the above mentioned trading systems might be or are suitable or that they would be profitable for you. Please realize the risk with any investment and consult investment professionals before proceeding. The trading systems herein described have been developed for sophisticated traders who fully understand the nature and the scope of the risks that are associated with trading. Should you decide to trade any or all of these systems’ signals, it is your decision. ”
Looks pretty similar in a lot of areas, doesn’t it? Guess that ol’ MTI is just standing out there alone.
Of course, one might argue, this is just something the forex does, when talking about their products. You say “it’s hypothetical, what does it mean at the end of the day”. You’d never see a major brokerage in non-forex saying such a thing, like say, Merrill Lynch?
Oops:
“actual performance may differ from the assumptions used in the Computational Materials, which are hypothetical in nature and which were provided to certain investors only to give a general sense of how the yield, average life, duration, interest rate sensitivity and cash flow
characteristics of a particular class might vary under varying prepayment and other scenarios. Any difference between such assumptions and the actual characteristics and performance…will affect the actual yield, average
life, duration, expected maturity, interest rate
sensitivity and cash flow characteristics of a particular
class…”
Everyone in the financial world uses hypothetical performance in their statements from the education “firm” to the forex brokerage to the professional brokerage, to the highest bank.
If you’d like, I can post several more, but I didn’t want to interrupt you too much on your soapbox.
AML a you a the real boss,gwaan send on the info my friend beacause everything you say makes sence.
“Have they ever told you verbally this disclaimer?”
So, in the case of my last example, if Merril Lynch didn’t verbally mention their disclosure that they have written, you of course say that’s illicit or illegal, right? So you’re planning on petitioning Merrill Lynch to change that, right?
Of course not. You’re not even remotely interested in the financial plight of Jamaicans – you either have an axe to grind against I Trade FX or MTI, and talking about other firms only shows that axe. You only appear to badmouth them.
Jesas
this is some heavy stuff going on here
I think half of these so called organized forex
guys are downright thiefs and lyers, the other
misguided and greedy.
Either way both half will eat your supper eventually.
I this thing was so easy, many big institution would be in deep.
I have seen it work for individuals and small clubs and am thinking to jump in myself inspite of all that has been said , but not with no Olint or MTi, just me and mi crew
continue talking AML!!
Nobody cares if MTI gets paid to introduce people to brokers. That is standard practice.But you ignored alot of good infromation that AML brought up.
What about there busines practices in Austrailia and SOuth africa. How you explain that lancey boy.
IS it not true that MTI did trade for Olint at one point?
Did MTI indeed teach DS how to trade or was that all a lie?
MTi reputation in Jamaica was built on the fact they taught the world best trader in forex. If all this turns out to be a Lie. WHat dose that make JM?
WHy did Olint give JIJ investments 50M?
On platforms with narrow spreads, the IBs are squeezed out of the picture. The platforms cannot do narrow spreads and pays IBs at the same. As an educational program, you must teach the good, the bad, and the ugly so the real traders know what to expect. FCMs are going direct for themselves. Come here for the best spread. That is the name of the game to get the best trades without losing on the trades. That is what advertising is for. The IBs are createing the most headaches for the FCMs by promising the sky without disclaimers. GAIN and FXCM was fined $100,000 and $175,000 USD respectively in the last 1 1/2 years for fraudalent advertising by their IBs.
“Everone of us has a piece of Olint’s history. We need to come together into a like a Wikipedia to document the history of this scam.”
Curious. If you had all these pieces for some time, why didn’t you come forward and offer them? Why would you sit back and let people lose money when you’ve known this information. You clearly didn’t just gather this stuff yesterday, or a week ago.
Even now, you hide out on blogs – which is fine if you want to be anonymous, but at the end of the day, if you’re in the right, you should be stepping up and talking to someone, not expecting other people to do your work for you and start a wiki. You should be calling authorities and giving up what you have, rather than sitting back, waiting for someone else to do it for you.
It would be hysterically easy to do yourself – you’re probably just hiding out so that if you’re wrong on any details, you can slink back into the shadows, anonymous and hidden.
I’m not suggesting you give out your name or anything like that. I am suggesting that you don’t give one lick about Jamaicans, you’re just trying to slam mti because you feel slighted somehow. I’m not clear if you feel slighted because you were an mti client, or an employee who got let go, or just a competing firm, but you’re clearly not some sort of saint trying to help anyone else, because you only appear to nuke mti or I Trade (mostly the former)
Anyways, that doesn’t make what you say false, but its just curious why you magically appeared on 7/2.
you’re welcome to prove differently, and I’m sure you’ll make some vague reference to “things you’ve done”, but if you had done anything of note to expose anything, it would have shown up earlier than it or you did. if you did have information on anything earlier, that makes you responsible for that delay in getting information out.
if someone else has something else to say, feel free to email me at bay.lance@yahoo.com I can only point you to other actual ibs to show you how the industry works, I don’t have any other answers.
For MTI to disassociate itself from DS is dishonest esp given the fact that they used the phrase ” the man who trained DS” in their ads. Also the ad they sent out recently abt scams was clearly intended for DS.
Though i am optimistic abt DS coming thru…i must agree with the sentiments related to the FX “chief”.
“What about there busines practices in Austrailia and SOuth africa. How you explain that lancey boy.”
First of all, my name is “Lance”, not “lancey boy” – I haven’t been disrespectful, so I’d appreciate the same.
As for your statement,I don’t know about South Africa. For Australia, I have two links posted by him, and all they say is that you need a license in Australia to do this stuff. They don’t imply “fraud” as far as I see other than to say that to push some sort of education, you have to be registered, and that the assertion was challenged in court. In the absence of information, that is not an indictment. I can find that for several other firms as well.
“IS it not true that MTI did trade for Olint at one point?”
I haven’t seen any information either way, other than suppossedly one half sentence from David Smith. He’s not exactly the most reliable font of information, but I’m sure that will cme out later.
“Did MTI indeed teach DS how to trade or was that all a lie?”
Again, who knows? Maybe they did. Maybe they didn’t. They claimed to, and that doesn’t have much bearing on what an IB is.
“MTi reputation in Jamaica was built on the fact they taught the world best trader in forex. If all this turns out to be a Lie. WHat dose that make JM?”
It makes it a lie if that’s what they said.
“WHy did Olint give JIJ investments 50M?”
We don’t know. What does that have to do with IB agreements?
I wondered the same thing AML…the article u psted does not show fraud….just that he needs a licence to operate….so I agree with Lance.
But you do know lancey boy…you either work for itrade or mti and thats why what AML is saying is GETTING UNDER YOUR SKIN LOL!
Writing a whole eassay about crap LOL!
and AVODING the serious issues.
The truth well come and then we will all know.
Anwyz have a good weekend everbody.
“On platforms with narrow spreads, the IBs are squeezed out of the picture. The platforms cannot do narrow spreads and pays IBs at the same. As an educational program, you must teach the good, the bad, and the ugly so the real traders know what to expect. FCMs are going direct for themselves. Come here for the best spread. That is the name of the game to get the best trades without losing on the trades. That is what advertising is for. The IBs are createing the most headaches for the FCMs by promising the sky without disclaimers. GAIN and FXCM was fined $100,000 and $175,000 USD respectively in the last 1 1/2 years for fraudalent advertising by their IBs”
then why did you ask people to ask I Trade how MTI gets compensated? Unless you *know* something different, the answer will be a pip spread, which is nothing new for the industry across brokerages. Your attempt was to imply that this was something illegal or illicit that they don’t trumpet it to you when in fact, it happens across the industry and very few ibs tell any clients how they are compensated. it seems to be one of your standard practices to imply something that isn’t extraordinary is somehow extraordinary when one firm doesn’t announce it on a megaphone.
i’m not saying you’re wrong, I’m just suggesting that how you’re asserting is is intellectually dishonest.
Quick round robin to those – I would like to know ur indiv predictions for Olint.
I believe we will be paid bet 50 cents and 80 cents to the dollar….its all speculation but I am just curious what is the general feedback.
“But you do know lancey boy…you either work for itrade or mti and thats why what AML is saying is GETTING UNDER YOUR SKIN LOL!”
I like it when I can predict the future. We can’t have an honest debate without someone saying “Well, you must work for mti or itrade”. Why does that standard not apply to anyone else? Why does no one ask who AML is and how he gets his information.
I don’t expect anyone to believe me, but I don’t work for itrade or mti, nor have i ever. as I told the blog person, i did work for two brokers before, and while I’m not using my real name, my initials have been registered via my real name on the nfa’s site.
“Writing a whole eassay about crap LOL!
and AVODING the serious issues.”
Why is it that my questions can’t be answered in a serious manner? I haven’t said there are no issues with itrade or mti, I’d simply like to hear:
a) where, why, and how AML got his information, and if true, why hasn’t he appeared prior to about July 2nd? Because clearly, he’s been watching this for some time.
b) why no one asks these same questions, and when someone does ask them, why is that person shouted down.
I agree, he’s a wealth of information, but he does appear to have an axe to grind, so that does leave me to ask questions. I can’t possibly be the only one.
Again I agree with Lance there is nothing with MTI taking or getting a commission when they refer customers to other platforms – this is standard practice.
“I believe we will be paid bet 50 cents and 80 cents to the dollar….its all speculation but I am just curious what is the general feedback.”
I have no idea, but I’d suspect less. If the DOJ has any money, they’ll seize it and nothing will be seen from that. If the money is elsewhere, it’ll be hard to retrieve. I hope that’s not the case, but it’s probably the truth.
@miachica, let stick to the issues. The man’s name is Lance. No need to disrespectful. Remember issues not personalities.
Is either Lchn or DS. One is lying one is telling truth. Both men are quite similar. Rich, charismatic x mount bodyguard and followers etc. But they also have one other thing in common in that they are naive and see everything in terms of money. Yes money and status does influence most of the people. But both men don’t know Ja as well as they think. they do not know that you have quite a few people who have higher ideals than money. And they tend not to play.
@AML, I have a question of my own, which companies make up the MTI Group?
BTW the answers on Capital Blu looks like we might need to look at them later..
@Lance, In your opinion, which companies is MTI calling SCAMS? OLINT and May Daisy?
@Sirach
I have some work for you guys to do on this thread
Lance:
In the context of what went on with Olint, MTI, JIJ, JM etc… who really cares about the details of IB agreements etc? You may be correct but it has no relevance in this context. The issues raised by AML, miachica et.al. are of far more relevance. Common in the discussions about scammers is for someone to choose a peripheral and irrelevant issue and argue it to death… you may be correct but it is irrelevant in this context so who cares.
“@Lance, In your opinion, which companies is MTI calling SCAMS? OLINT and May Daisy?”
Just based on the reading, I’d say they’re saying some of those groups are a scam. It’s hard to say which ones, mostly because the ad was vague in scope, and May Daisy seems to have had links with Olint. If I were to guess off the top of my head, I’d say both and more, but I don’t have any answers for sure.
If they’re saying they taught David Smith, then cutting him off later, that would seem to be slimy and wrong. But I could be wrong about that assessment.
For example, just because I teach a person to use a gun, and later he shoots someone, that doesn’t automatically make me guilty of murder or that I did anything wrong. It could show that. It could also mean I’m just a bad judge of character.
The problem here is that on this blog especially, we have an angry mob, and the mob wants to find someone to burn. I admit, it could be MTI that needs to burn, but lets make sure they burn on the merits, not because its what some people want to hear.
Lance,
You have an axe to grind of your own…You and Sinta(could be the same person) Dont lik e it when people asking questions about MTI or ITRADE. LOL
Lance,
We all know itrade and mti probably have people watching these blocks. The question is which of them you work for? SERIOUSLY now, your not fooling anybody.
I gone for real this time lol.
“In the context of what went on with Olint, MTI, JIJ, JM etc… who really cares about the details of IB agreements etc?”
Apparently, AML cares, because he brought it up as evidence. You’re precisely right – in the context of what we SHOULD be talking about, its largely irrelevant, but so long as AML tries to use it to support his arguments of illicit activity, it becomes fair game.
“Common in the discussions about scammers is for someone to choose a peripheral and irrelevant issue and argue it to death… you may be correct but it is irrelevant in this context so who cares.”
It’s not irrelevant in the context of the fact that he’s using technically incorrect information or irrelevant information to fire up the mob. Have you ever tried to argue or discuss with an angry mob? It becomes impossible to do after a certain point.
It is not illegal that pip rebates are paid out to ibs, regardless of brokerages. The implication that AML made is that those agreements are somehow illegal or “wrong”, and that’s where it becomes relevant. He’s just throwing out bits of information to people who don’t know any better, because he wants the mob in a frenzy – unthinking, unrealizing, just angry.
People have a right to be angry, and there are reasons to be angry at MTI for things. But let’s not lose track of where people should be angry.
Lance is right…
“We all know itrade and mti probably have people watching these blocks. The question is which of them you work for? SERIOUSLY now, your not fooling anybody.”
Even if what you said is true, and I’m not saying it is (in fact I’m denying it), it doesn’t make the arguments I’m making false. Why are people so afraid to ask AML who he is, where he got his information, and why didn’t he bring it to light sooner? If he had all this information for so long, why wasn’t he shouting it out all over the place prior to July 2?
If you can look at his posts, the timing, and where he’s posting from (you can find that in other locations on the internet, because he’s not been covering his tracks in other areas), then you’ll have some answers. It doesn’t make what he says false – and again, *I’m not saying what he says is entirely wrong or even has a majority of it wrong* – but it does shed some light on why he throws out the bits of information he does.
It does NOT matter who Lance works for … he has presented his views and we respect that.
However, as NoCotec said while AML might be off with IB arrangements, the other issues that you and AML has raised are of far more relevance to issue at hand.
If MTI is saying that David Smith and OLINT is a Scam, given what we know in the NFA complaint about I-Trade effective run by the same principals, the Martinez, it would clearly tells us we have a big stink on our hand… I-Trade requested an extension so we have to wait a little longer to know their explanation for apparently turning a blind eye to Blatant and questionable breaches of their own policies and the NFA’s policies.
@Lance, Continue to post… we can get a little heated here.. but your opinion is welcomed..
“Dont lik e it when people asking questions about MTI or ITRADE.”
You’re right. It’s so much better to hear how right you are, than to examine the evidence in a neutral manner.
I see that I’m not wanted here. I tried. If no one wants to ask any questions about the “guardian angel” here, that’s fine, but I’m just tired of bickering with people like miachica, who just likes to ignore what people are saying because it doesn’t fit with her world view.
@mk
Your very optimistic theory of 50-80 cents would be based on what, principal, or balance as of May ’08?
Since I have a less optimistic outlook I won’t even speculate.
Lance,
People have a right to be angry, and there are reasons to be angry at MTI for things. But let’s not lose track of where people should be angry.
THis sound like the manager himself LMAO!
Ok I see your point. lets just focus on DS. lets leave JM, Itrade and MTi. They are not involved with Olint what so ever. So why should people point any fingers at them. The NFA complaints was just a bunch of made up crap lol. JM never said he trained DS and personaly state that he was an excellent trader?
I suspect AML probably work for either company at one time but I think you do too. In fact I suspect you REALLY wanna find out who AML is. The guy is such a talker. leaking all sort of good infromation.
AML must have been on to something though.
I am gone for real this time adios?
Lance:
Most people who took MTI courses were beginners in the forex trading world and so most have no idea about IB arrangements and that the IB (MTI) makes money off them when they trade. In that context, to point out how MTI makes some of its money off its clients is important… for many it is a… hmmm moment, I did not know that/t is not necessarily implying that it is unusual or illegal.
What you had was a scam of major proportions… now the folks who played a part in giving legitimacy to the scammer while making oodles of money is now trying to distance themselves as if they played no role in helping the scam perpetuate itself.
Balance not principle….
Well well I am so confused. When MTI called me to sell their product it was all about David Smith who did their course and is one of the best traders. Of course you believed. They even made this possible by offering Olint members a six month payment plan that cmae from their Olint accounts every month for six months. That would make every thing seem legitimate right?
So now all of a sudden the name David Smith is a bad word………………..I dont get it.You take our money by using the legitimacy of someone we relate to and now that there are problems you had nothing to do with it.
You know what God is seeing and hearing all of this.
“Ok I see your point. lets just focus on DS. lets leave JM, Itrade and MTi. They are not involved with Olint what so ever.”
I’m not saying that whatsoever. There are legitimate shots to be made at MTI and JM, and people should look at those, as this blog has been. I have never ever said not to look at those, I just question false arguments like the IB agreement, because 90% of the people on here won’t understand IB agreements and won’t realize they’re normal across the market. So they’ll think that an IB agreement is illegal, call I Trade FX thinking they’ve found some major “clue”, and when I Trade can’t answer (which if they’re like any other type of IB agreement, they *won’t* answer because of confidentiality), they’ll say “Ah ha! there must be something illegal”. That’s the way angry mobs work, and AML knows it.
“So why should people point any fingers at them. The NFA complaints was just a bunch of made up crap lol. JM never said he trained DS and personaly state that he was an excellent trader?”
Again, I’ve already stated that if MTI says they trained him, and then changes it later, they lied. You’re just choosing to ignore that. AML has raised a lot of legit information to take a look at, I’m just pointing at the parts that don’t mean anything.
“I suspect AML probably work for either company at one time but I think you do too. In fact I suspect you REALLY wanna find out who AML is. The guy is such a talker. leaking all sort of good infromation. ”
He’s also left his network information across the internet, so it wouldn’t be really hard to track him down. There are at least 2 review sites that posted it up, so you can just reverse it and see where he is (unless he’s some sort of internet master rerouting his connection like in some movie, which I doubt). I don’t need those kinds of answers, and I suspect that if any company wanted to find that out, they could also.
Lance/sinta,
Was that an indirect threat warning him not to post anymore.
LOL
Your a genius….You work for MTI and ITRADE for sure LOL.
Come on Lance don’t leave. miachica is one person. 😉 As I said people are a little heated right now. Some feel betrayed, even set up my MTI. Many say that if it was not for MTI they would not have invested with OLINT.
It does NOT matter who AML works for either or what axe he has to grind…
No one is afraid to ask him where he works. For most us it does not matter where you, Lance, or AML work or what axes you both might have to grind. We are just interested in the information.
If you trek back a little on this post you will see where AML posted something and we took him to task, https://investforlife.wordpress.com/2008/07/30/mti-says-scams-schemes-scandals/#comment-6061
We did our research and came back and told him he was talking nonsense… He actual agreed and said he was wrong. So careful not to accuse of not questioning him. We do…
As we the detractors always say truth always wins out.
Lance:
By the way… when you are attempting to track a blogger in an attempt to identify that person… particularly when he is posting negative info about one or more entities… it is a big hmmm moment… why would someone with no axe to grind be doing such a thing?
By the way, AML link investforlife at the email and I will relay a way to protect yourself from people like like Lance and others with an apparent agenda.
The detractors on the blog Nocotec, Jay, DaveSin, Robin Irie, Jason among others like banker and myself have been accused of working for NCB, the FSC, BOJ, Big Banks etc etc… It NOT relevant. What is relevant is, “Is what we are saying or presenting rational, correct and fair”
If the information AML presents is accurate it is welcome, If it is incorrect or misleading, people will correct it and point it out.
Thanks for pointing out the misleading IB bit, we all agree that that is standard and that the Australia and South Africa bit might be overstated by calling it fraud. Is there anything else that is misleading?
AML continue to post. Tell us who makes up the MTI Group and who is the chinamen?
“Lance/sinta”
Who is sinta?
am I also mk? he just agreed with some of my points.
Let me guess – any one who agrees with me, must be me.
no, wait, they must be a friend of mine! if they’re not me, no one could possibly be agreeing with me.
This is what paranoia does – you stop thinking rationally.
“Was that an indirect threat warning him not to post anymore.”
Assuming I do work for those companies, why would I warn him of something when I’d rather he have rope to hang himself. That doesn’t even make any sense. There are ways to truly post anonymously which take 5 minutes to look up on a search engine so that its not easily traceable. Mia, you don’t even remotely make sense at this point.
“It does NOT matter who AML works for either or what axe he has to grind… ”
Ok, if that’s the prevailing opinion here, that’s fine, I just disagree. Where information is coming from makes a lot of difference.
“Some feel betrayed, even set up my MTI. Many say that if it was not for MTI they would not have invested with OLINT.”
Again, that’s a fair argument to have.
“As we the detractors always say truth always wins out.”
hope so.
well
Lance obviously has a bone to pick with AML. I have no interest in who AML works for as that is irrelevant to the discussions.
Why would I want to go searching where any blogger is posting from on the internet.
I sense that there is a big moment on the horizon as it relates to MTI Group and the Chinaman, and we will be watching closely.
“when you are attempting to track a blogger in an attempt to identify that person… particularly when he is posting negative info about one or more entities… it is a big hmmm moment… why would someone with no axe to grind be doing such a thing?”
sigh. you people are some of the most paranoid people i’ve ever seen. i’m just saying, knowing who someone is has a lot of bearing on why someone presents the information in the matter it is done.
I *do* have an axe to grind – it’s with AML’s stuff and that alone. I’m openly admitting it!
if I was working for mti or I Trade, it doesn’t even make sense that I would say “He’s probably right on everything else, and wrong on this one issue”, I would try to point out a zillion things wrong with it.
Unless I’m some sort of super evil master who thinks the whole argument will unravel if I point out one thing wrong with it. That seems possible in the face of an angry mob and everything here through something like 200 posts Do I look like I’m that stupid?
Again, if no one cares about anything about AML, that’s fine. I’m clearly in the wrong then – we can move on to another point.
As a very active FOREX trader, I can tell you with 100% surety, that this market is MOST RISKY. Trading the FOREX market is the riskiest of all financial markets. In the Futures market, you stand the chance of losing more than you have invested, but with the FOREX market, your losses are more frequent with smaller losses, depending on your account size. The broker will automatically close out your account when you get too low on funds — while the Futures broker will let your trade run and go negative.
No FOREX trader [manager / fund / club] can consistently pay positive gains for any long-term period. You will have a couple bad months, leading to maybe a few bad quarters, ultimately leading to a couple bad years. I have only made a few posts on these blogs, but my theme has been consistent — invest only the amount you can afford to lose. The FOREX is simply another asset class to diversify your portfolio. This is a big risk / big reward market. You win some, but will lose most of your trades. From a money management standpoint, you try to have your winners bigger than your losers. These are all good in theory, but a lot more difficult in practice. I might sound negative on the FOREX market, but I still think it is one of the best ways to diversify your portfolio when done properly and conservatively.
In today’s unstable global markets, this might be a good portfolio balancing ratio:
– 50% Cash (Money Market type account with fixed return)
– 30% Stocks (local, international, and global)
– 10% Real Estate (local, international, and global)
– 05% Government Security Instruments, like bonds, etc. (depending on your country’s stability)
– 05% Risk Investment (Futures, Stock Options, and FOREX)
When the global markets start to stabilize, then one could slowly begin to move more funds from Cash back into Stocks or Real Estate which have traditionally outperformed most other investments over the long-term — again over the long-term. Profits are usually made over the long-term, not via some scheme that doubles your money every 6 – 7 months. Even real estate became a scheme in the U.S. and the rest of the world over the past 4 years; and now people are stuck with real [investment] properties they were trying to “flip.” Real wealth is built over a long term, not from short term investments.
Whether you are a technician or a fundamentalist, be prepared to lose some money. There are times when you can make some great trades, doubling your account balance in 3 or 4 months, but this cannot be done consistently. Even the best FOREX Hedge traders make it big one year and lose their shirts the next. This is just the nature of the market.
All those disclaimers posted by FOREX spot brokers are for a reason.
yes
“the Chinaman”
I have a question, and this is a legitimate question, who is “The Chinaman” and “the Chinamen”? I’ve seen that a zillion times, and I’m legitimately confused – is it JM? is it DS and JM? is it the Ms plural?
All we want is the truth… Too many persons are suffering because of too many lies…
If a drunk/drug addict/pimp came right now and told us the truth and it could be proven to be the truth we will welcome it..
I find your veiled suggestion of tracing persons most distasteful…
“I find your veiled suggestion of tracing persons most distasteful…”
What’s veiled? If its distasteful, then delete it, and any posts referring to it.
See, I’m apparently in the wrong to ask, so please, do as you feel to my posts.
Lance: “Ok, if that’s the prevailing opinion here, that’s fine, I just disagree. Where information is coming from makes a lot of difference.”
If that is so important to you then you should post under your real name and tell us where live and you work. On blogs most people try to remain anonymous. Posts can be challenged as you did AML’s. In the end rational people will discern what makes sense and what does not… not everyone behaves rationally but we have no control over that.
The place of origin, place of work etc are not important in the context of posting info on a blog like this one. On a blog like this where all sides are welcomed, info can be freely challenged and readers can form their own opinions. Some blogs are exceptions to the rule, where dissenting viewpoints are not welcomed but this is not one of them.
interesting
“If that is so important to you then you should post under your real name and tell us where live and you work. ”
I didn’t ask AML to name himself, just to state how this information was received, and why they didn’t bring it up any earlier, so my name is actually irrelevant, since I haven’t asked the same. My information comes from an understanding of the industry in question.
Tracing an IP will only show the geographic locale the person is from. It won’t show an address or who they were, nor would you be able to get that information. So all that would show is if AML were say, in Jamaica, or in another country. Only a government agency would be able to get specific information. So his anonymous status is unhurt and not in jeopardy, so he can still post with impunity.
No one here has let me challenge anything – I have been repeatedly attacked from the time of the first post, and no one even remotely tried to answer the post without questioning who I was. People are *not* challenging the post, they’re accepting it as fact because they don’t know any better, or they say it doesn’t matter. Every time they show up on here, they get shouted down by the mob.
If people just want me to shut up, that’s easy enough, I’ll shut up.
“If a drunk/drug addict/pimp came right now and told us the truth and it could be proven to be the truth we will welcome it..”
I read this again, and …. while I disagree with the idea that the source isn’t as important as the message, since it allows you to judge the validity of the message (and yes, that applies to me, AML, or anyone on here), I respect that the powers that be disagree, and it does me no more good to argue this point.
Lance:
This a blog. People are going to disagree with you. On a blog that allows different points of views sometimes the majority will disagree with you. Consider that originally in all the hundreds that posted in support of the UFO’s there were only about 6 or so of us that posted dissenting opinions… Talk about being shouted down 🙂 But the truth could not be buried and so we kept at it.
Nocotec
That’s true…things have now changed as persons supporting DS like myself are in the minority now,,,
Lance
No need to feel “shouted down” this is a blog where persons r free to make pts and defend their positions.
Lance your opinion is welcome and you are free to disagree with us. However we guard very jealously people (supporters, detractors and those in between) rights to post 1. the truth, 2. what they think is true 3. their opinions.
We also guard very jealously their right to privacy and confidentiality and any hint to the contrary is not welcomed.
We welcome corrections and those that point out errors. We tell you, your posts will not be deleted and you will not be blocked, for simply carrying a contrary opinion. Instead, you will see healthy and somewhat heated debates.
Lance keep posting and a belated welcome to the Investforlife blog.
@Nocotec, Second to that.. that is big part of the reason this blog got started..
“We also guard very jealously their right to privacy and confidentiality and any hint to the contrary is not welcomed.”
Very well, I’ll respect that. Thank you for the correction.
More information on another alternative with links to Olint over here:
one question AML…Who are these Chinamen who has our money. l
OK Lance let us move on, your comments are welcome.
Given your knowledge of the industry…
David Smith’s OLINT was been returning an average of about 10% per month (compounded) for somewhere between 2-4 years.
1. How achievable was this in your opinion?
2. Do you beleive that OLINT was a PONZI or became a PONZI?
3. I am sure you have read the NFA complaint and listen to the Nationwide interview, do buy David Smith’s explanation of using funds left in I-Trade as a FLOAT?
4. Do you believe the 750 million allegedly posited by David Smith does exist?
AML, on August 2nd, 2008 at 4:59 pm Said:
Hey popcorn man, I have a script for you.
Mr.Olint: thinking to himself after 1st or 2nd FSC raid “I need some help with my trading club because I am losing members and having a run. I know who will help me is FX Thief because he taught me.”
FXThief: thinking to himself “I am having problems raising 1 million USD for my new broker company. I know I will call SD because he has a trading club and money and credibility problem and I know how to fix credibility problems.”
FXThief: “Hi SD, I can sell to your clients for $2500 so they can just be like you, SD. For the $2500 education you will receive a 35% kickback.”
Mr.Olint: “The money can come out of the client funds and future interest. You must sell 400 client and I will give you my clients list. I need you FX Thief to make the calls since LewFam is busy calling for new clients.”
FXThief: thinking to himself “I have a new country to invade and reap. Lax laws and everything operates by mouth.”
To be continued…
__________________________________________
Lance jumped in and start attacking AML post right after he made these statements. The IB argument was just s failed attempt to move peoples attention from MTI and Itrade .
You challeneged AML to reveal his identity knwoing full well he wouldnt do that in an attempt to discredit his post. Finally you went as far as to let him know that his ip address can be traced thus revealing his identity. I bet it is just a coincedence that have all the post on this blog. The only one that interest you was
MTI says – Scams,Schemes, Scandals!
Now you trying to play the VICTIM. Everybody is coming down on me BS.
Do you expect to raise a few eyebrows the way you went after AML.
I am NOT AML and if I find out something I will reveal it.
WHats in the dark must come to light !
@realdude.
Remember, as things stand right now the “Chinamen” is AML’s creation.. until he tells us more we have to keep that in mind….
“The IB argument was just s failed attempt to move peoples attention from MTI and Itrade ”
Actually, I made the comments several hours before that post, they just weren’t approved until several hours later, so they didn’t appear until about 8 hours later. So, they were actually posted in response to AML’s IB posts and were not in response to the one you mentioned.
I even emailed to try and get them approved faster so that there wouldn’t be a huge gap.
The hosts can confirm that.
in fact, from when I sent the email, they were posted by me about 5 hours before that post.
But seriously, don’t let me sway you from the point you’re trying to make by bringing up facts. This is *exactly* what I mean about misunderstanding information. You’ve constructed an argument that is faulty – that I was trying to sway information from a post that didnt exist when I tried to post my information. When in fact, that wasn’t actually the case, and I can prove it.
I know you weren’t trying to be dishonest and that you were responding to how the blog shows it, but this is the point I was making about people responding to information that isn’t 100% correct on emotion.
Why would Lance’s posts be delayed????
” 327.
Why would Lance’s posts be delayed????
”
It’s nothing illicit – as a first time poster, my stuff was delayed for approval, as it would be for anybody.
Confirmed.
Lance posts were made many hours before they actually appeared. Since they would have been lost and there, they were moved forward.
@Mk, Lance is a new poster and all posts by new users are automatically held.
I don’t rememer waiting for any approval when I started the blog…
Johndoe
Is that the reason? Do u have to approve individuals ( I am not suggesting anything just asking)
@Miachica… Your point taken but note the clarification of the post times
I tell you we will not let the MTI, I-Trade FX, Martinez link die… We coming with some more… so hang in there….
@Lance, Please remember my questions. (10:21) I would love your opinions on those.
Johndoe
Okay.
Johndoe,
What was the motivation in starting this blog? Has any interest group provided any sort of financial support to the blog?
@mk, Valid Question. It is just how the application works. New posters are automatically held, posts with multiple links or spam like language are also automatically held.
In those case we have to manually approve them.
I know people have said we are paid propagandists. Because that is not true, we only approve things or post things when we have the time. 😉
mk:
Contrary to what some suggest… it is not a job for the moderator(s)… 🙂 they have separate lives so sometimes a new blogger is approved very quickly and sometimes it may take several hours before the moderator sees his/her post and approves it.
JD & NOC
Thanks for the clarification.
not sure u ans my ques abt motivation for setting up the blog & if u receive funding for the blog?
1. How achievable was this in your opinion?
Achievable? Possible. Achievable by some guy in Jamaica? Seems less likely. I think some of the theories I’ve read here on here are true – he might have had a return for a while, and then as he got competitors, he ramped up the numbers. There’s a very small chance he got such high numbers for two years. Usually, the answer is somewhere in between, so my best guess is that at some point, he got a decent return, and ad the end, he was battling competitors, so he lost himself in that. MTI probably didn’t help the situation.
2. Do you beleive that OLINT was a PONZI or became a PONZI?
Probably one of the two.
3. I am sure you have read the NFA complaint and listen to the Nationwide interview, do buy David Smith’s explanation of using funds left in I-Trade as a FLOAT?
I don’t really have any idea. It seems unlikely. Then again, DS contradicted himself several times in the interview that I heard (on here, thanks ifl!), so who knows.
4. Do you believe the 750 million allegedly posited by David Smith does exist?
No, I don’t. I think he has some money – how much remains to be seen. As I said before though, I think its likely most of it won’t be seen again – if the DOJ freezes it, they’ll probably keep it. If its in another locale outside of the US, its probably gone.
mk:
Many, in fact most did not agree with the so called “detractors”… But believe it or not the motivation is simply that we do not like seeing our fellow Jamaicans getting scammed and or headed for certain losses… We posted and tried to provide what at the time was contrarian opinions, trying to avert the impending disaster. I have been doing the same thing offline from the day I first heard about these UFO’s. The blog is really a result of this attitude. It is not any more complicated than that and there is nothing sinister or nefarious about the blog and its formation.
If folks are interested in USA Mutual Funds with long term investment horizons I can help with that. But financial advice is specific to a persons circumstances and such things as risk profile. This means one size fits all recommendations are not possible. Unlike with the UFO’s where we could tell everyone, they are ponzi schems.
Nocotec
Thanks – have u been funded by any interest group?
“It is not any more complicated than that and there is nothing sinister or nefarious about the blog and its formation.”
For what its worth, I believe you all – I think you have the best interests of Jamaicans and people in the UFOs at heart. Hopefully that convinces you mk.
If they had monetary support, believe me, they wouldn’t let contrary opinion post 🙂
Pressure on Olint
http://www.sunheraldja.com/article/show/1343
@Lance check you email. I hope you see what I am talking about.
@MK.
Let me answer the last part first.
1.
a) No interest group or any group has offered or provided financial support for this blog. In any case, we are NOT interested.
b) This blog is hosted for FREE by wordpress.com
c) This blog is AD free as far as we know. We get NO revenue from it. Note WordPress might include Google Adsense where they see fit and the revenue goes to WORDPRESS not us
2. The first part.
The How:
We will tell the story again and Jay and Nocotec and others will add/subtract to it. This blog started becuase we used to post on another blog. The ‘we’ are Nocotec, Jason, Jay, DaveSin, Robin Irie and myself(JohnDoe)
They did not like our opinions, and one by one they deleted some of our posts from the other blog. Somewhere along the line they suggested to us start our own blog and leave them alone. So we took up their suggestions and started this one.
The Motivation:
The motivation is simple. We STRONGLY believe that 99.9% if not 100% of all UFOs are SCAMs of one sort or another. We believe that people have been lied to, tricked, simply scammed and that somebody has to say so and tell people that is what happened.
We have family and friends that against or without our advice opted to invest in these SCAMS and we are hurt when we see their and others suffering and pain.
Therefore we believe people must know what we think about the SCAMs and we also want to know the TRUTH of exactly what happened.
We also hope that by presenting as much information we can people will embrace the need for a) Regulation b) Transparency and c) Disclosure.
Thanks and kudos to you all this is the first time I have been a part of a chat room/blog and this is well organized highly informative and gives the latest updates on a very timely basis.
Again congrats
Ailing investor pleads for help
http://www.sunheraldja.com/article/show/1344
Though I am far more optimistic than most on the blog – the forum allows for very healthy and necessary discussion on what is proving to be a most historic moment for us all….for me there will be a slighter happier ending than is being predicted.
JohnDoe, Nocotec are correct as to how this blog came to be created.
We are not being paid by MLC, FSC, NCB or any other groups.
Nocotec @ “Olint under pressure”, we have a new thread on that one . 🙂
As a group let me ask u this though….if DS pays back 50 – 80 cents on the dollar (for balances) would u retract the statements abt Ponzi schemes?
InvestForLife and support cast….
I commend all of you for a job well done!!! God will reward you greatly for what you are doing — in exposing the follies of these UFOs.
To do this without even one GOOGLE AdSense on your BLOG is truly a testimony to your benevolence. What you do in secret without any financial reward, God will reward you openly. I don’t know your backgrounds or financial status, but I pray that God pours out such blessings on you that you will not have room enough to receive it. You are truly a dying breed in this world of greed and scams.
I would like to hear about the blessings you receive from God even if it’s 1, 2, 3 or 10 years from now. But know this; you will be rewarded for this great work.
Respectfully & Prayerfully Submitted,
PIPSologist
“if DS pays back 50 – 80 cents on the dollar (for balances) would u retract the statements abt Ponzi schemes?”
Nope.
Jay
Will u sound this happy & enthusiastic if DS is able to pay back club members significant returns?
As an investor my hope is that this will materialize….
seems like most people goin to the courts. What about ppl like me who cyaan afford dem legal stuff…we get juk?
MK,
A scam is scam full stop.
David Smith may have started off trading forex but his operations may have grown to be one of the biggest Ponzi scheme in the history of the Caribbean.
Every week a new “club” with links to Olint is exposed, the latest being Visions Increase Sa Corp, as noted in the ” Pressure mounts on Olint” thread.
BTW, the FSC did warn about the “Visions Increase” scheme, however if my memory serves me right the name was “Visions Increase West”.
Can anyone confirm if the are one and the same .
@MK, to the PONZI question NO.
In that David Smith ‘letter’ even though he said OLINT was not a PONZI, pretty much most of what he said pointed to the contrary.
If OLINT(receivership/liquidation) can provide an independent audited financial statements from a known and reputable auditing firm proving the contrary, we will be the first ones to publish the information and retract.
Until then, 10 cents, 50 cents or 80 cents means nothing as it relates to OLINT being a PONZI.
However we would be very pleased and happy, if 50 cents or better yet 80 cents on the dollar was recovered as it would go long easing the pain that so many people are feeling.
Why not Lance? to pay that out he would have had to be doing some successful trading.
a true ponzi scheme is NEVER able to pay back all investors.
This may all be academic…I am just asking the question now while everyone is bashing DS – if he comes thru will there be any retraction of these statements….
@mk
A PONZIs if stopped earlier is more likely to pay back significant sums. The longer the PONZI continues the more difficult as the money trail becomes murky and complicated.
I suggest you read Nocotec’s
What happens to your money in a PONZI
https://investforlife.wordpress.com/2008/07/18/what-happens-to-the-money-in-a-ponzi-scheme/ in a ponzi and
Man Money and PONZI
If “investors” are able to get back a portion of what they deposited with Olint I would no doubt be be very happy for them as people are really hurting.
My concern however is, how will this make them behave any different in the future.
If any money is there to be paid out, it should be based on say $0.20 on the amount invested and NOT on any accumulated interest.
There were no interest gains as this was not a legitimate operations.
I also believe that those with close ties to David Smith should have all their “ill gotten” gains seized and placed in the pool to pay back those investors who have lost.
If it can be proven that DS mansion was built using his clients money then this should be seized and sold as well. In addition all gifts given to families and friends should be forfeited.
They should also go after those persons who made a “killing” from Olint.
The problem here is that the accounting was so shabby that this may be virtually impossible.
This now begs the question, was the shabby accounting by design ie deliberate or just coincidental.
Those are good explanations of Ponzis. I just think it sounds too much like a ponzi to be anything but, at least at the later stages. It’s hard to say – there’s so much rumor flying around about David’s trading, we may never exactly know at which point it became a ponzi. It may have been from the beginning. It may have been somewhere in the middle. My bet is somewhere in the middle, but honestly, it could have been from the beginning.
If MTI is culpable from what I’ve seen, it would be in encouraging people to invest in DS and Olint. Unfortunately, those are the most difficult things to prove in terms of money, but you can at least show ads where they claimed DS was a great trader, so they would seem to be involved from that perspective.
I wouldn’t be surprised to see more little mini-UFOs tied to Olint – it seems like everyone had a stake. For that reason alone, I think there must be some money somewhere. But I doubt it’ll be 750 M, or 1 B, or whatever DS ostensibly had at some point.
So, to answer you mk, if conclusive proof came out that DS was trading money, and has money to return, I might be willing to retract some of my statement, but I think I’m pretty safe on that one…
mk:
Most us started to post because we did not want to see people lose their money. If they are able to recover significant sums we would be only too happy. Do you think there is probably one adult Jcan who does not know friends or family members in one or more of these UFOs. If it turned out Olint was not a ponzi scheme I would be happy to retract as that would mean my family members and friends would get their money back.
I know several friends and a some family members who either did not listen to me or did not seek my advice or invested without my knowledge/ They are going to lose most if not all ther money. Given the developments I do not see how Olint will turn out not to be a ponzi scheme.
Jay
You honestly believe there was no sort of trading taking place -“there were no interest gains” -for you this was all scam & ponzi…
Hope u r wrong….based on what ur saying he shld only be able to pay on principal….not total balance.
My opinion – this seems very personal – if u r not an investor ,u r not being funded, yet u seem to have this disdain for DS to motivate u to start and run 24 hr blog on just the AIS s- this seems personal – thats my opinion.
Are u telling me the only thing motivating you is the enlighten misguided persons like myself?
realdude: “seems like most people goin to the courts. What about ppl like me who cyaan afford dem legal stuff…we get juk?”
Broadly speaking there are 3 options if significant money is located. Assuming there is significant money (I doubt it) to pay back say 10 cents on the dollar of principal or more…
The best for small investors and those without a lawyer is the criminal route. If DS is convicted of money laundering, fraud or other crimes, the DOJ or TCI authorities will generally return the money to investors after preceding claims are paid. This is why investors are generally best served by cooperating with law enforcement.
Second option is one or more lawyers could request and get a Receiver appointed, similar to the C+ situation. If money is found it will be placed in a pool and after the Receiver, attorneys, and any preceding claims like secured loans, taxes etc are paid… investors will get the rest.
Third option: Clients with an attorney could win a judgment and then locate any funds and have it seized. In this scenario those without attorneys would be left out in the cold.
Can any of you guys find those ads by MTI where they said they trained David or mentioned David at all in their ads?
MTI recently is neither claiming or denying association to David. FxChief was rather vague when he spoke recently on Olint, saying “he has no information about their operation”
Which I find hard to believe since he took money from O as alleged in the NFA doc. So would MTI just take money from a person or entity without knowing some basic information.
Also, let’s not forget he and David were at one time part owners in I-trade FX.
So FxChief is not being open when he speaks. As far as I can see there’s a mountain of data supporting his relationship with Olint and David.
@MK You last post was directed at Jay and he will answer but I will add my part.
When your family is hurting MK, it becomes personal.
Lance & Nototec,
That’s all i am asking if he pays back a significant sum like 50 – 80 cents on the total balance if persons would retract statements…..there is no evidence to suggest he will…i was only checking how open & fair our blog members truly are….
It is also important to me to hear that persons would be happy if sig funds were returned….
So Lance & Nocotec if there is this positive development i will listen out for retractments….which would only be fair.
Johndoe
Accepted if thats it – its personal for me as well because i stand to lose…i fully accept the respon though as it was my choice. If it comes thru i expect the reward if not i accept the opposite….
Anyway bed calls…tomorrow guys…or rather later today.
Ever Hopeful….
mk:“Are u telling me the only thing motivating you is the enlighten misguided persons like myself?”
Check this…
It is easier to believe that DS was trading FX and returning these phenomenal gains even though there was no proof…
Than…
To believe that that there are bloggers who post with no other motivation than to enlighten and thus help fellow Jcans.
See how priorities and principles can get mixed up? 🙂
Nocotec
I hear you…….i don’t find the enlightening part impossible not at all…i just hear sometimes (I may be wrong) a desire for DS to be wrong almost at all costs.I guess what I am saying is that sometimes u come across as being far more excited with news of DS demise….is there an opport for more objectivity?
Based on ur resp u wld be just as excited to present info which highlighted DS success if that were to surface…
Hence why I have been pushing my questions now abt ur response if he pays back….based on ur response it seems u wld be happy if he pays back.
Nocotec
Do u believe that like u ds really set out to help his fellow jcans?
MK:
When you find the time, maybe you can visit the site below and read some of the later posts from the “Gang of 6”. I think you will get a better picture of things. This is not a DS thing. It’s a UFO issue.
This is the link to the old C+ site:
http://cashplusinvestment.com/comments/comment-page-415/#comments
Lance:
Good posts!!! I think you made a few assumptions that are not correct and hopefully JohnDoe was able to show you why!
Keep blogging and more people appreciate your opinions that you might think (another bad assumption). 🙂
Investforlife / Moderator,
Can you create a new thread specifically for any students of MTI who are actually making consistent returns…and if their claim is yes, can they back it up with proof, the only acceptable proof is a statement of their trading account?
We know MTI has trained thousands of students since they arrived to Jamaica so the question is can we find any such students? They have collected millions from Jamaica the question is have the students collectively been able to see any ROI (Return on Investment) for that export of cash to MTI and ultimately to USA.
Thanks
MK,
When you have family members and good friends scammed by these schemes, it then becomes personal.
Olint is not the only schemes that I have hit out against, however it is the largest and seems to be the “mother” of most of the other schemes
Beenie:
That’s an excellent suggestion, but I think the thread will be a short one based on the use of the term “specifically for any students of MTI who are actually making consistent returns”. My Guess is that 90 % of the people that took the class has not done anything since then. Another 9 % have tried and lost all their funds and the other 1 % is just at the breakeven point. But I could be wrong, so lets see what happens.
“I think you made a few assumptions that are not correct and hopefully JohnDoe was able to show you why! ”
Yes, he did. Thanks Dave for the welcome!
“I think the thread will be a short one based on the use of the term “specifically for any students of MTI who are actually making consistent returns”.
I think you’re right. It’d be pretty short.
Going on a trip this afternoon, be back later this week. Hope everyone stays well.
@AML,Miahica
I don’t about MTI classes being held in Jamaica since August, I can’t speak to that.
What I can say is that MTI has been running a plenty of ads in the Gleaner. Full Page and smaller ones. Basically in every Sunday Gleaner and even during the week
Basic theme: you can be come a self trader, no need to trust anyone with your money, do it yourself, the myths of FX e.g. Guranteed returns, hint hint, you need to be educated and not be taken advantage of.
Hi all I just read all the comments and my name came up in one of them; my name is Bassilios Hado some of you read my opinion in the MTI ad. I just would like to say that I respect all your comments whether they are right or wrong.
I am not here to advertise someone or defend someone, but I can say that I am proud that I took the MTI course, of course not all of us are going to be successful, but some will be, people say 95% loose, may be they are right but why we want to be in the 95%? I am not doing 100% profits, neither 10% a month but yes I am doing consistent profits, better than the banks rate at least! I am not DS and I am not as successful as him, I don’t have anything against him, I hope what he was doing was the right thing and that soon he will be finished with his court case and get the chance to pay back all the affected persons, if I am not affected it doesn’t mean that I don’t care, I feel the pain too! Any way you take it, there will always be someone that you care for that is affected.
I educated myself to trade my own money and not to trust someone else. If I am successful, it’s because of my education at MTI and other intensive long hours and months of learning and demo trading. Billion of people studied medicine and not all of them became doctors, they did something else to survive and didn’t open privet clinics and killed people. My advice is to educate yourself guys if you want to trade Forex, and if you see yourself not successful just do what ever you’re good for because the Forex is the most dangerous thing. Try to be positive and think about it this way, if there is any successful traders out there, with education and hard work that person that is made for the Forex will be successful,
I don’t believe that the only successful traders are out there and there is no more, if Americans, Europeans, Chinese, Egyptian, … can trade Jamaicans can do it too, it’s a reality and not a dream, this is what Banks do with your money but under control, using Jamaican and foreign traders.
By the way it is so easy to say burn this burn that, would you like that each unsuccessful student go and burn his school and kill or hurt people? Thank you for taking the time to read my comment.
Dave and Lance, Hi
It’s very important what you are saying about MTI students and the % of successful students. Since it is very well known that only 5% of traders are successful how can we expect from MTI to give us more than that, some successful traders are there and working with legal organizations and Banks. Since 5% is low you are not going to hear a lot from them. Jamaicans can be successful in Forex; David was before he leaves JMMB.
1% of successful traders in Jamaica is a great number, the most important thing is that the 99% has to find a better job or learn something else where they can be successful instead of loosing their money and blame it on someone else. I lost in the beginning but didn’t blame MTI, I built my knowledge and traded more demo account until I was able to build a successful strategy and then I went live. Most of the student just go and trade live thinking that Forex is a given thing or a tree were we can pick money from.
If there is someone out there that is intrested to trade Forex, please remember that education is key and that 95% are unsuccessful you can be one of those and if you try it and loose leave it alone quick befor the market eats you.
Hi do any one know what happen in court in tci on re David and olint interesting i hear no reporting here .nothing about pb starting his own thing in cayman
People that checked DS in TC say that he is in trouble, but so far nothing concerning the court, as soon as something comes up you will hear about it, thousands of people are tracking this story.
@bas
Welcome, I think is time you read this again slowly.. Donna Duncan-Scott speaks…
When you are done also read the comments under
By the way Beenie google my name not only my business name and you will have a face for the name, since you read about me you can check me at my restaurant at chez maria 7 hillcrest avenue to see me in person any time or you can google my name if you are not in Jamaica. It is Bassilios Hado and not “Hada”. I don’t hide behind any name, any person wants to know something come and check me, I will be very happy to meet you guys.
@johndoe,
Thanks for the welcome, please do not understand me in wrong, I did not mean that DS helped JMMB make big money I just meant that he was successful. I am not going to protect or take his side because I don’t know him and I never believed in what he was offering and made sure not get involved with him.
Thanks for the links I read one of them already it good to read the next one too, I just want to point out something. I don’t really follow DS information, I decided to comment only because my name in more than one comment and I don’t want people to use it or play with it the way they want because they are unhappy with MTI or who ever. Now that everyone knows where I am, they can meet me at any time no problem and they will have an idea on who is Bassilios.
Beenie 99.9% of Jamaicans don’t know me and looking forward to meet each one of you.
Respect to all of you.
@Bas
Re: David Smith
What caused you to have, quote,”never believed in what he(david smith/OLINT) was offering”? What were the danger signs your saw?
Why did you not as some people say, “invest a thing” with him?
By the way I think you made an excellent decision not to “invest” with OLINT
Bas
To: Bassilios Hado
Please declare if you are a franchise of MTI. Please indicate how much you have paid MTI for your piece of the pie.
If you have already paid, then you already know that you are in trouble. Did MTI give you a list of past franchises to talk to? Which area does your franchise cover?
Yes, MTI is good for teaching the basics of FOREX. For $2500 to $5000 USD they should teach the good, the bad, and the ugly. MTI fails to teach the bad and the ugly because they represent it.
I am sorry for you because you have stepped into something that was not your fault.
@johndoe
What caused you to have, quote,”never believed in what he(david smith/OLINT) was offering”? What were the danger signs your saw?
After practicing and learning the forex, I found out that in reality that there is nothing name 10% monthly, people loose some moths, the best money management organization or companies in the world are able to make 30-36% a year this tells us everything, most people doesn’t know that we need to clarify this and open a thread to educate people about what is the Forex and the danger. This thing that happened in Jamaica happened already in other countries, people has to remember that in our days most of has access to the internet, spend couple minutes and check out about anything you want to invest in or do and there you go you have all the positives and negatives and then you can decide. The danger signs are what is happening with Olint and what happened to others, all what I can think of or pray for is that the people of Jamaica that invested in DS get through with at least their capital!
Why did you not as some people say, “invest a thing” with him?
Honestly it was hard not to I was tempted, people around me told me all sort of things for the past 2 years, but what kept me out of it is the fact that it happened already in my country 15years ago where members of my family suffered from it, up to now, and the second thing, I worked extremely hard for my money, I have 7 family members depending on my actions and soon a second baby on the way, I cannot afford a mistake like that, so I decided to educate myself more about forex.
By the way I think you made an excellent decision not to “invest” with OLINT
Thank you, I am relaxed now from all the chatting and pressure from family and friends, they just realized how important was my advice, and I feel sad for all those that get caught in it.
As I said in the MTI Ad. That I decided to educate myself and not give my money to strangers, I hope that people really understand that there is a big money to make in Forex but be careful it’s the most dangerous way to make money, whether you do it yourself or give you money to many managers. A person commented about me and said that if I was a successful trader so why I can’t afford this and that. Some people think successful trader means Millions, I cannot blame them or stop them for thinking this way, and they are free. I am what I am and didn’t promote myself as the best trader neither MTI, I told MTI and will say it loud over and over that I was and still proud that I took their course and that what they are teaching is very important but 99% of the students are so busy in class dreaming of the 100 USD bills and millions, that they miss the most important part. On the other hand there are some students or persons think that the course is worth s…t it’s their opinion and I respect that, but one thing in clear, no one put a gun in our head and oblige us to take MTI course or any other course, yes I did take many forex courses prior to MTI’s course.
I remember that I was used to fail in music class, but I can’t recall that I burnt the school or the class or blamed the teacher; I was worthless in music plain forward! And if the days, months or years prove that I am not successful in trading it’s because I am not made for it. They are 5% out there making the money; I hope I will be one of them. Couple hundred persons in the world are F1 drivers only; I wish I was one of them. We are what we are and we are on this earth for a reason, it’s up to us to find out what is reason!
If people are unsuccessful in life do they blame God for that?
This is a very important thing that we have such places to comment and give our views, we are all hear to know the truth because people related to us are suffering and other soon start to suffer, so who ever knows something come out with it and stop speculate things.
In my opinion this is the best thing that could happen to Olint and the investors, I wish it happened a year ago, 1) less people would have suffered, 2) once for all the people are going to know the real story hopefully, unless some deals out there make this thing disappear, so we have to make sure keep on asking questions until the truth shows up and also to make sure that rich people don’t collect all the left over money because some other can’t afford lawyers!.
DS come out and say all the truth people out there suffering and need to know you owe them that since they invested in you and trusted you.
Nice post, Bas. I wish more people listened.
Can you tell us more about the situation where you come from that happened 15 years ago?
@AML,
Please declare if you are a franchise of MTI.
I have been reading your comments and I can say that they was very interesting and had lots of information, but let me assure you that I am not a franchise of MTI, I am just a student that took their course and knows how to use it in real life.
AML don’t you think that by giving out my real name and business name and address is the most honest thing to do?
I didn’t pay MTI nothing else then $2500 which is the course price and I attended their class 3 times, I hope that this does answer your questions.
My message was that people has to educate them self and researches before doing anything so they can be as safe as possible.
You are right the MTI are very good in teaching, if they don’t teach the bad things as you say, it would be our fault as students for not knowing, and since you have so much information why don’t you talk about them and advise all of us about all the bad things of MTI, ITFX, JM…. We are hear to know the truth behind everything, not all of us knows everything and all what happens behind the scene, amicably let us know what’s going on.
Please don’t feel sorry for me, because I didn’t do anything wrong, I made sure to be honest enough to say my name and more and my honest opinion about MTI it is going to be the same opinion even if MTI is found guilty in anything, because my opinion is based on my experience with MTI compared to others.
@Bob
Basically the same thing persons promised big returns, and the difference is that those persons disappeared with the money, not crashed but DISAPEARED and all now no one knows where they are, people say that they are in Brazil who knows. My still up to know cry for the money that she lost everytime she remembers.
Another thing was used to happen I hope that It wont happen in Jamaica, people was used to build 10 stories building for example and sell the apartments on the blue prints because it was cheaper, just before the building done, those persons disappeared and the worst part is that all apartments was not to 2 or 3 different persons and there was no plumbing or electrical installations, so be careful out there when you by on blue prints.
Nice post, Bas. I wish more people listened.
Thanks, I wish too.
By the way someone was accusing AML of beeing and ex-member of staff of either MTI or ITFX, after his post to me I can say that he is not, if he was, he wouldn’t be asking me all those questions. He has his information from somewhere else that I really hope to hear and check it out.
AML let us know please, so that we can understand what all this is about. Thanks
There is little to no chance that AML doesn’t have some tie to MTI or I Trade. The amount of information and “poison” he spits on that one subject means a high chance he can only be one of three things:
1) a former MTI or I Trade client
2) a former worker for MTI or I Trade
3) knows someone who works for MTI or I Trade
That doesn’t make his points invalid, but lets not kid ourselves, he’s on here posting because of one of those scenarios.
At the end of the day, the truth rings out, and if he’s right on all those points, his information will be vindicated, and he can be celebrated as the hero he is. The danger is that if he’s 60% right, and people believe the 60% fully, they’ll give him the benefit of the doubt on the other 40%, so in those cases, he can say whatever he wants and it will stick. The Snellgrove example on the UFO page is a perfect example – I haven’t seen him post a link about that “connection”, yet I’m sure a lot of people have probably accepted it as fact. Again, he could be entirely right, I’m not currently disputing that.
At the end of the day, this is all highly informative, and it’s a part of my daily reading routine, but we need to keep some perspective too.
And Bas, I wish you all the best on here, because you’ll be sliced and diced and nitpicked on here unless you have the patience of a saint.
Bas – your reasoning was my reasoning. I checked for myself and the best managed Forex fund I could find at the time, paid 53% per annum. DS was paying almost 200% per annum.
Something did not smell good at all, yet all around me were caught up in the mass-hysteria that was DS ! The power of “folklore” over-rode any intelligent thought process. My friends insisted that DS was more trustworthy than NCB.
The country that produced Asafa and Usain, had also given the world the GREATEST forex trader in history.
YEAH, RIGHT 😦
Ooops – 10% compounded for a year is almost 250% return on your original investment !
Lance
You seem to be quite defensive in your posts. I have read the discussion with interest and quite some time ago I thought there was acceptance by many that you had made your point about AML’s insinuation about IBs.
Why then do you keep going after AML? What exactly is the problem if he has information about MTI or I Trade because he was a client, worked there or knows someone who works there?
I understand the point you made that the source of information is useful when assessing the likelihood that the information is accurate. On this blog people are entitled to be anonymous and most people are. Isn’t that the end of the matter, then?
Just curious.
Bas,
For you to come to this blog and provide full disclosure on yourself is nothing short of stunning.
My only comments is when you write your post, if you could break it up into paragraphs, it would make it much easier to read.
Once again very informative stuff you are sharing with us here.
Is there a gag order now?
Bas
This comes down to ethics and business ethics and what is right and wrong.
You do not do business with a company that has been shut down or raided by the government.
I Trade FX said they “We would not wire client funds directly to any offshore unregulated firms” (see Isaac Martinez quote below 2007-06-28)
because of “Due to our extremely high business ethics” but he and MTI continued to do business with David Smith. MTI continued to profit off David Smith name for the next year by pushing his name to the Jamaican people for sales.
Did MTI say they could use your comments in Jamaica? MTI now has associated your name to the scandal now. That is why I feel sorry for you.
Jay,
I will try to break it up no problem.
Lance,
I beg you please, lets forget about who work for who, and want what on lets try to hear some information that we can check if they are true. I don’t have anything personal against anybody and I am not going to take sides, if I have information I will share them with you guys so we can have reach the truth. If someone is here to dice me, cut me off, … fine let him enjoy it, I am hear to introduce myself and give you my opinion about what’s going on. It’s because I don’t know everything that I am here to learn and understand the whole situation. If I can help I would be more than happy.
Guys if you live in Jamaica why you don’t come over and let’s talk about it openly face to face and get the chance to correct our information. I believe that each one of us has something right and something wrong and it’s up to who knows more and better to enlighten us so we can correct our information and views about certain things.
See the link below for IM quote
Remember ethics.
Lance said:…”And Bas, I wish you all the best on here, because you’ll be sliced and diced and nitpicked on here unless you have the patience of a saint.”….
Lance, Lance…Lance…there you go again. I think you grossly underestimate the “intelligence quotient” of the bloggers on this site! The facts are, there are myriad of views on this blog, including yours. There is diversity of views express here and individuals are free to say what they want to say. No one is censored on this blog or BAN for presenting dissenting views (unlike the other site).
Therefore, saying what you just said is being a tad bit disingenuous on your path. No one is denigrating BAS’s opinions, if fact, it’s highly encouraged. I don’t know if you are aware of this piece of data, but a lot of the anti-Olint views being expressed on this blog, are being done by Olint investors!
So let other people form their own opinion of this blog, without external prejudicial prompting.
“Why then do you keep going after AML? What exactly is the problem if he has information about MTI or I Trade because he was a client, worked there or knows someone who works there?”
I don’t care which of the three scenarios he falls under, and I honestly don’t care if he wants to be anonymous. All I’m saying is that we should take information with a grain of salt, so to speak. It’s not like he’s an unbiased source of information. That said, he clearly has some valuable information. People have clearly indicated that he has information that they want to hear, and I respect that, but there is a danger in listening to what you want to hear, aka, conspiracy theories. Again, I’m not saying he’s wrong, but motivations do matter. I want to hear what he wants to say, but I also want to see him back it up. Most of the time, he does a good job of posting links.
At the end of the day, it doesn’t matter as much who he is as why he is posting it here. If he has valuable information, I would hope he’d be giving it to someone who can put that information to better use than a blog.
AML,
thanks for all those information, but how in this world my opinion of educating myself used by MTI is associated to the scandal.
Why don’t you take it positively and try to understand my personal message, to direct people toward education and research instead of listen to someone and follow him blindly. You have problems against MTI, ITFX, JM and family, fine I respect that but not every person that took his course and give his opinion whether positive or negative, you just have to link those people to a scandal, I don’t think it’s right, but if you see it this way, respect.
AML lets not forget that DS tricked thousands of people man, lots of people trusted him and didn’t see it coming until too late, at one point I, after all what happened with my family in my country, nearly invest some money with you.
Some of MTI staff opened recently accounts with him, because they didn’t know better, newspaper wrote positive things about him. I nearly got fooled! Do you understand what I am saying?
AML, 5 months ago I found out that my brother was planning to put all his savings that he worked hard for with DS against my decision, I had to convince him that I would put it in my friend name that has already an account with Olint. It took him some time to believe me because he knew how much I was against. Bottom line I honestly nearly gave his money to my friend, but hurt shivered to moment I was ready to do so and decided to keep his money in my safe, without he knows, at that point DS wasn’t paying a penny. At one time he asked me draw for him his profits for 2 months, I paid him from his money, he was very happy, he thought he took the right decision. His happiness lived short when he heard all about Olint crashing or problems. There were no words to explain his pain and tears, but I can assure you when I went to him with the balance and told him the story he was the happiest man on this earth, because only at that point he realized how much important was that money.
People starting to know more about me, I am really trying to be sincere and don’t want to fool you guys, you know where I am, who I am, and where ever I am all my family is under one roof,.
I appreciate that you feel sorry for me AML if you are sincere, but most of the people thanked me and still thank me for what they read in the newspaper. So don’t link me to anything, I am just a student that gave his humble and honest opinion concerning MTI.
Know please give us some useful information to help us have a wide idea about the whole MTI, ITFX, DS situation please, thanks
Lance:
There you go! I know you can hold your own. Looks as if you have the patience of a saint. 🙄
“I think you grossly underestimate the “intelligence quotient” of the bloggers on this site!”
I’d like to think so, but after last time when I posted my email, I had 4 people email me telling me what a horrible person I was (along with one Nigerian scam email, and a few emails from other people on this site). So I hope I am underestimating, but… one never knows. I think most of you are great. 🙂
People knew for a long time but looked the other way and profitted.
“People knew for a long time but looked the other way and profitted.”
So, two wrongs make a right?
Looks like Olint:
http://www.myfoxla.com/myfox/MyFox/pages/sidebar_video.jsp?contentId=7163531&version=1&locale=EN-US
http://www.myfoxla.com/myfox/pages/Home/Detail?contentId=7163537&version=5&locale=EN-US&layoutCode=VSTY&pageId=1.1.1
Click the play button. Notice these people call the FBI and they did take action!
Bas
Did MTI say they could use your comments in Jamaica?
I wont be surprised to hear that it is proven that all of these clubs are related!
More poor people in trouble so sad.
Yes
Bas Said: ….”At one time he asked me draw for him his profits for 2 months, I paid him from his money, he was very happy, he thought he took the right decision. His happiness lived short when he heard all about Olint crashing or problems. There were no words to explain his pain and tears, but I can assure you when I went to him with the balance and told him the story he was the happiest man on this earth, because only at that point he realized how much important was that money.”….
Bwoy Bas, you were running a little Ponzi with your brother’s money 🙂
I have been told that we may be able to have a class action lawsuit against MTI. If they knew olint was doing money laundering and did not report and allowed people to lose money. then they can be held liable.
MTI has full knowledge. MTI shared offices with LewFam.
I told you when the full details come out it will blow your mind.
people anyone has proof of MTI promoting O. please make it available on this blog.
aml where and when did aml share offices with lewfam?
The problem I am having is why is it taking so long to bring charges against DS?Could this investigation be a smoke screen by TCI priemier to protvcet DS.? The feds move more quickly on cases here why not TCI?
I have not gotten that far with popcorn man movie script.
Find ex-LewFam employees or MTI-Jamaica employees and you will know.
@Dave,
That post you made regarding Financial Plus Limited, was really something else.
The quick action ie no procrastination of its clients allowed the FBI to act quickly thus preventing that crook from escaping.
Whether or not the people will make back their money is left to be seen.
Olint/HW/C+ investors on the other hand are/were all waiting to see what happens while allowing the crooks to quickly hide their loot.
Bwoy DaveSin, I had to it 🙂
I had to do it sorry missed the “do” 😉
How can someone do this type of thing to their friends and investors? How can they sleep and enjoy peoples money and lie on them and try do close down and try to run away? How can they they sleep in the night? do they have a heart? these are the questions i keep asking myself, if I owe someone one dollar I can’t sleep until I pay him off. They deal with Millions and can paid their investors!! and can still party and go casino’s etc… MMMmmm!!!
Anyway good people it was nice talking to you a nd sharing some information with you, but work calls I have to look after my customers 🙂 will be back hopefully on Saturday.
Take care, and stay safe.
@ Bas
Your story is very interesting. I suspect we might might see a blog piece on you and hopefully we will hear other MTI students like Beenie.
A few more questions.
1. Did you see the full contents of MTI AD before it was published?
2. Did you get a legal opinion on offering such endorsement of MTI’s program?
does anyone know lewfam address or former address in atlanta or fl? I need this urgently.
People for those of you are not willing or able to afford a lawyer.Here is another option.
1.The FBI can be contacted at (202) 324-3000 or https://tips.fbi.gov/
2. You do not have to be an american or PR of america to report a crime to the FBI. Since american banks and financial institution were involved. this constitutes a crime.
People please the sooner we act the better.
Gain Capital / Forex.com acts as the clearing agent and counterparty to the margined forex transactions of customers introduced and managed by LewFam Investments LLC. Gain Capital / Forex.com is a registered Futures Commission Merchant (FCM), regulated by the Commodity Futures Trading Commission (CFTC), and a member of the National Futures Association (NFA).
catd
Find ex-LewFam employees or MTI-Jamaica employees and you will know.
In Jamaica mon. FSC jamaica might have the address.
what is curious is how can lewfam be offering securities or broker services witout being registered in the US.
This is puzzling.
aml if you know why not tell. Do you need my email to send that email to?
Catd,
All you have to do is find someone who stores all their sunday gleaners from way back to 2006. MTI alwayz had ads promoting that “Learn to trade like DS” ect,
Even At their classes he would show up sometimes and promote MTI and MTI promote DS, saying he is wise, trustable ect. i was there at that class.
Its not a matter of If MTI promoted DS, just a matter of digging up the Known proof
LewFam tried to be legit last year. Gain Capital handles the money laudering issues and compliance. Question is if LewFam is still an IB of Gain Capital? Did LewFam use Gain as an partial cover of still feeding Olint?
realdude I am living in the US. I really need info ?
1. Former address or present address of lewfam in the US? I heard one was in FL and one was atlanta but no address.
2. Does anyone has any proof of the MTI, ITrade or martinez brothers promoting DS as a worldclass trader?
People we cannot continue being victims. I have resigned myself to the fact that I will lose all my money. But I will not let these guys get away with what they done.They will pay.
catd,
Contact Jamaican newspaper companies and ask if they can give you a copy of MTI ads. The gleaner company should have payment info plus rough draft of the ad that you can use. Payment info and archives of old newspapers are usually stored. You might need a lawyer to get it, I dont think they will give up that info if you just ask yourself.
catd
You are an Olint or Lewfam investor?
jay is it possible for you to get thse ads or articles for me? I know you are a well informed and connected person
both…I have some in O for myself and invested some of my family money in Lewfam because they live in the US and lewfam seemed to be based here.Also O had poor Customer service and response time…so encouraged my family to put money with Lewfam…
These deciosion I have nnow come to regret.
catd me hear FX chief on Perkins show last year. He call in and was talking about FX trading and he was supporting DS. I remember Mr. P keep trying to talk about Cashplus and there 10% a month but chief tell him that he dont know personally about Cashplus but he talked about DS and his fx trading. MTI ads on Power also talk about David Smith and as far as I remember is like it saying they trained him so come learn with them.
When them come out with Go trade Jamaica promotion with ITrade I sign up for information and a guy Jie Wells call me plenty and try get me to sign up. Tell me bout david and MTI and all that I guess as encouragement for me to sign up.
those fricking MTI gave cred to DS as I was toldby friends. They should be held accountable…
LewFam started the Gain program around March-May 2007. If your money went legally into Gain, you had a ton of paperwork to fill out. If you did not fill out a ton of Gain paperwork and they said they put your money into the managed accounts, they did so illegally.
i do not think we filled out a bag of paper work….so they invested with DS not capital gains. So the capital gain is just a front.
What did Lewfam say on where they were putting your money at or how it was being worked?
1st black man to win gold. Go cullen…who seh black folks cannot swim…lol
“If your money went legally into Gain, you had a ton of paperwork to fill out. If you did not fill out a ton of Gain paperwork and they said they put your money into the managed accounts, they did so illegally.”
Like AML said, paperwork will be the key. The amount of paperwork you filled out to get started (or lack thereof) will be your legal proof.
It should be fairly easy to get copies of ads from newspapers, although getting rough drafts will be difficult at best, unless the paper feels generous and doesn’t have a legal contact not to give that up. I should note though, it’ll be a lot harder to make claims based on an ad – the argument will be if you can prove illicit intent or that MTI wasn’t also “fooled” by David. That would seem unlikely, but remember, in a US investigation, its innocent until proven guilty. I’m not sure what Jamaican laws would apply to MTI’s branches with regards to advertising.
If LewFam was an IB for Gain or whoever, they can offer products without being registered until a month or two from now. They weren’t offering securities in the US (forex doesn’t fall under securities laws) AFAIK, hence they don’t need to be registered with the SEC.
Any paperwork completed with Gain, MTI, LewFam or whoever is what you’d actually have the best luck putting forward.
the just asked for paperworks similiar to O . I think we got the invite..then applied online and they then contactde us to submit id…thats all i think
but lance how could DS fool MTI. They could not be endorsing him without proof…furthermore would they not know if he was using their trading platform…
To hold someone liable is much easier than in Ja. …If you hold a party at your home and someone comes their and drink and drive home and kill someone.You can be held laible….MTI is no diffrent. They gave credilibility to DS via their ads and presentation so they can be held liable if he was not trading and scamming folks.
they know this thats why they are offreing discounts on training seminars…..they know the ramification they could face in the uS
catd
Do you have dual citizenship? If you do then Lewfam, Olint and MTI is toast.
“how could DS fool MTI. They could not be endorsing him without proof…furthermore would they not know if he was using their trading platform…”
Like I said, it’s unlikely. I’m just telling you scenarios that I can think up off the top of my head that I would use.
Remember though that MTI isn’t a brokerage (hence, no trading platform to actually see it), and DS said he wasn’t using I Trade (the sister company) for most/any of his trading. So, arguably, they could say something like “He showed us the same Oanda thing” or “He showed us a fake report” or something like that, and you’d have a hard time proving it.
I don’t know anything about Jamaican laws, so I’ll bow to your greater knowledge in that ring.
aml
us resident…
Lance in the US it does not matter. the responsibility was on mTI to verify.Verify does not mean a screen that DS shows them. MTI is a registered business…its not a patty pan stuff. The onus was on them to prove DS is trading. Because of endorsement by MTI alot of folks invested in O or its feeders. Therefore they are liable.
My granny always seh if you cannot ketch quako then yu can kectch him shut. DS has no money.DS says him own O not his investors…so whtaver little lef.. not enough. MTI…martinez and Itrade is the next best bet….
Olint roomed with LewFam. MTI roomed with LewFam. I Trade roomed with MTI. It is just one big party.
“Therefore they are liable.”
I’m not a lawyer, but your logic sounds faulty. MTI isn’t a brokerage, and you’re talking about an ad in Jamaica, so you’re talking about multiple jurisdictions. Being a registered business doesn’t mean anything in terms of verification (although I would argue that it should be part of “good business” to verify someone you vouch for). Saying “David Smith is a good trader” isn’t legally the same as saying “Olint is a good company to invest in”. Again, I agree with you that it’s a very very dicey line, and it smells funny, but from a legal standpoint (in my opinion) it doesn’t look to me like it would hold up.
However, I’m not a lawyer. You should definitely explore all your options. Can you afford a lawyer? Even a short consultancy (which doesn’t cost a ton) would be enough to take a look at what you’re saying. If you have paperwork from LewFam, MTI, or whoever, that person could take a look at it as well.
Sadly, I don’t know anything about LewFam other than what I can look up online.
Let law enforcement determine what laws were broken by giving them all the information that you have.
“Let law enforcement determine what laws were broken by giving them all the information that you have.”
Good advice as well.
i have consulted with one….but before we proceed he encouraged to get ducks in a row. i like the rest of the people was waiting to hear something…but with each passing it seems dimmer and dimmer.
Som,e lawyers will take on a case on the basis of a fraction of the proceeds. but my lawyer is not convinced becasue of the lack of paperwork and documentation. thats why i am here to get help.
he was the one that suggested i get info on MTI since they are here in the US and they advocated DS.
catd
Write down the facts on a piece of paper in chronologcal order. How you were solicted by MTI? Olint? or friend? What they said to you or asked? Did you fill out a power of attoney or form authorizing to let go of the control of your money on the wire transfers?
I know the US government is very interest in the wire transfers since that can be traced.
Investorlife
Can you create a special section for people to contact police authorities since someone has already posted contact info on the FBI agents in charge of the US investigation. catd possible needs that info.
http://www.forexpeacearmy.com/public/review/www.markettraders.com
Just another (un)satisfied at MTI.
http(colon)(slash)(slash)www(dot)forexpeacearmy(dot)com(slash)public(slash)review(slash)www(dot)markettraders(dot)com
Just another (un)satisfied at MTI.
Just another (un)satisfied customer at MTI. The bad and the ugly.
Lance, on August 10th, 2008 at 11:13 pm Said: “forex doesn’t fall under securities laws”.
Lance was referring to US law.
This is precisely how Jamaican’s got suckered. The fact is, forex is an activity just like shoe manufacturing. They do not fall under securities laws on their own. But when the forex impresario or the shoe-maker enters into certain type of financial transactions with investors they both fall under securities law. This is true in Jamaica and it is true in the US. But investors were happy to hear from the conman that forex doesn’t fall under securities law because they didn’t want anything to interfere with the runnings. 10% a month was simply too sweet.
There are many cases in the US of forex scammers falling foul of both CFTC and state securities laws.
JohnDoe,
1. Did you see the full contents of MTI AD before it was published?
No, I was asked if I would like to say something about my experience with MTIand if they could use what I will say, and I e-mailed them couple lines. Actually its couple of my friends called me and woke me up to tell me about it.
2. Did you get a legal opinion on offering such endorsement of MTI’s program?
No I didn’t, I expressed my opinion and what I think about MTI.
I hope we didn’t reach to a point where if someone gives his opinion about something, he has to get legal advice. I speak to so many customers and we all express our opinion, if this is the case I will have to have a lawyer 24 hours a day
I hope that people that read what I said will understand it the way it was put, which is a way how people can or should think sometimes, because if for example Jared said that DS is a successful trader, I will say to my self if he can do it, I can too. I didn’t search for DS and carry my money and give it to him to make me money or give him a chance that one day he will tell me I made you! No man is going to make me someone.
If Jared said well DS took my course and then went to the South Pole and swam naked for one hour and got his skills, people will listen to him blindly and do the same thing and kill them selves?
God created us and made sure each one of us has his own brain and his own way of analyzing and thinking.
If it was said that DS took MTI course and was successful there couple scenarios that some people can do:
– Go to the bank and pulled their money or borrowed money, sold their house…and went and gave it to DS.
– Say bwoy man, this man is good I wish I can do what he did, sit and do nothing.
– Say bowy man, if he did it I can too, let me try and see.
-Go online check what Forex mean, and surf the net in search of free course and some people that will be calling trades and copy them.
-And many other scenarios…
It’ up to use to choose what we want to do, I chose the 3rd option, others chose something else, this is what is all about.
The easiest way is to sit and start blame or search for who to blame after we realize that we took the wrong decision.
I remember when I was young and used to fail in history or geography exams, I was used to sit and think about what say to my parents, so I was used to tell them well the teacher never teached us this subject or that subject 🙂
RESULT:
My father gave a BIG beating that I will never forget up to now and made sure to engrave in my brain this sentence: “NEVER PUT THE BLAME ON NOTHING ELSE THAN YOURSRLF CHILD!”
This sentence helped me a lot in my life, because after that I have to forget that the word lazy exists or deleted from my dictionary and study or work harder.
Bwoy this comment is so long hope you guys didn’t fall asleep sorry. 🙂
@Bas
We going to do an article on you, so look out for it
Bas giving an opinion is not a problem. While this might not be the case in this situation, endorsing a product can be a serious thing.
Yes off course if someone wants to endorse a product he must be telling the truth and all the truth about the product, the positives and the negatives and make sure not to lie or hurt people.
@Bas
We going to do an article on you, so look out for it
Let’s wait and see what the articl will be about 🙂
article, missed the ‘e’ sorry
Sorry for the long post, but I just had to get this off my chest.
My experience with MTI is one of deceit and lies, all to pull in more clients and give them false hopes. I blame myself because i got into trading with MTI only because of DS and without doing more research into trading FX. I was told by MTI that I would be making 25% within 3 months of trading. Well, after 12 months of trading, I am down 100,000usd and lost everything. I gave my all into trading and traded full time only to realize that it’s impossible to make consistent profits. If I was had a more realistic perspective to trading FX, I would not have eventually lost all my money. My fault.
I have kept in touch with students from MTI classes in Jamaica and Florida and non have them have made a penny. They eventually lost all their money and lost everything to a dream. Several times in MTI mentorship, I would ask the Admins, where are the prior students that are successfully trading. How come none of them ever come into the Chat room??? Never once did anyone in there Chat room or Mentorship ever admit to making any money consistently. Yes some made money for a few days, or maybe a month, but eventually lost everything. I even would ask the Admins how much they were making themselves trading, and they could never answer the question. But every month, you would see new hopefuls joining MTI and coming to the chat room with visions of grandeur. Eventually they all just faded away.
After doing more research, i have since found out that most investment banks in the world that trade FX only make between -10%(minus) to 30% per year. So how is it that DS was able to make more than 250% per year???
I really believe that FXThief, sorry i meant FXChief is the master mind behind the FX Ponzi schemes in Jamaica. I specifically remember FXThief telling us about MTI bringing FX trading into Austrialia and South Africa and getting kicked out by the government because of FX Scams. He also told us about people committing suicide after losing lots of money to FX scam artist. Government eventually closed down there offices told them to get out. My point is FxThief has done this before in foreign countries and knows what eventually happens. I believe that when FXThief originally meet DS, he told DS how he could really make money by opening a investment club and running a Ponzi scheme and they formed a partnership. I think DS was a decent trader but was running Olint as a partial Ponzi by using new investments to pay out returns to make up for his losses. DS knew he could not consistently make enough trading to pay out 10%/mo and that’s why he has never been able to open his books.
Again, I blame myself. I was the FOOL.
BAS
I live in the US not jamaica…lawsuits are won daily on lesser issues than MTI endorsing DS….
1.MTI gave ligitimacy to DS by saying how great a trader he was. That made more folks want to invest. 2.They were business partners at one time. DS was trying to capitalize Itrade.
3.They refused to report suspicious activities to NFA on O/DS account.
IF it barks like a dog…what do think.
Beanstalk I am glad you were willing to open up to us today. I am in the same position. They say misery likes company. Both of us has been duped.
Either by MTI or DS.
Beanstalk are you in the US or caribbean? Hope you kept some of your documentation? these people need to be stopped…they have victimized enough people already.
BeanStalk:
Sorry to hear that you lost that much money. But why didn’t you stop at say USD$25K?
Also, I’m surprise you did not post that information much earlier, especially when we were actively discussing MTI/I-Trade FX?
BTW, that is a lot of funds to lose (in my humble opinion).
Johndoe should make your post a “sticky” or a separate thread header/story. “The confession of a MTI student”
catd, i am in Ft. Lauderdale, Florida. I have all Documentation, but i don’t think i will ever be able to prove anything against MTI.
One thing I have to give to FXThief is that he is an excellent motivator and speaker. After listening to him speak, you want to believe that you can do this. I always wondered why he would spend 1 hr of his 2 hour Mentorship on Motivation. I would get so pissed off why this man wouldn’t shut up and start teaching trading and why he wasted so much time on motivation. I eventually figured out that was all part of the scam. Get these fools to believe that this is easy and any fool can get this.
FXtheif, you are a smart man, i have to give that to you, but every dog has his day and yours will come.
BeanStalk:
You are in my neck of the woods! You should have brought maybe 4 or more houses with that money and rent them for income (you probably do have a few).
BTW, a notice a few of the Olint supporters on the Facebook are in the process of losing their house, yet they are still supporting DS. I hope DS comes thru for them in time!
DaveSin, i had the money and I really believed i could make this work. FXthief really made me feel that i could do this. The stories he would tell were so believable. I set up a high end trading station, with super duper computers, multi monitors, wireless laptops for the road, you name it i had it.
I worked on this full time for 12 months. I went no where, i slept only for 3 – 4 hrs a day, I gained 30lbs, sitting at my trading station all night and ended up with high blood pressure, gray hair and a receded hairline.
Why I didn’t stop after 25%?, because i really believed i could do this. You have to trade for yourself to experience the addiction. When I lost 25%, I remember trying to make back the 25% only to eventually lose another 25% and so it went on.
Don’t get me wrong, i am not saying it is not possible to make money trading, if i had a more realistic view of what was possibly attainable, I would never have lost that kind of money. FXthief and DS really gave me the dream that making 20, 30, 40, 100% months was possible and that’s how i traded. If i was trading to make 1 – 2% month, I would never have lost.
I have only recently accepted the fact that I will never be able to make that money back trading. I purposely stayed away from these blogs because i didn’t want to be sidetracked. I was focused and dedicated to this and didn’t want any distractions. I really lost this money more than 4 months ago, but only now have come to grips with the reality of it. I have been in denial and have not even confessed the loss to my wife.
@BeanStalk, Firstly I am sadden to hear of your lost and I hope you will recover quickly
Can you e-mail me at hyipmyths [at] yahoo [dot] com
@DaveSin,Jay check your e-mail
BTW can anyone say what was LewFam and OLINT shop# at the New Kingston Shopping Center?
DaveSin, yes you are right i should have invested into more properties, but nothing done, nothing tried and so i move on. This is not the first i have lost in an investment and I am sure not the last. to make money you have to risk money. Again, i blame myself.
@BeanStalk.
I empathize with you and your losses. truth be told a lot of persons are of the opinion that they can indeed make a killing from forex trading on a consistent basis.
One thing that I have found about trading in particular forex, can become addictive like a gambler if you are truly not very very strong willed.
I hope others will read your story and take note so as not to fall into the same trap.
Thanks for sharing your story.
Respect
Catd, I respect all what you did, may be you are right, but I made sure to say also that people has options and said the options and told everyone what I did.
I could have done the same exact thing a go put my money with DS, but didn’t.
Each person take his own decisions, he is the only one to decide, I and my family and friends got hurt from listening to people and following what they say without research.
In the case of DS, it was very hard to see it coming, remember he has been managing people’s money for couple years I don’t know when he started exactly, and no one found out until now. Tv news, newspaper, rich people, poor people, no body, we hear no and then that some people get a message to come out and came out but it was recently.
Catd our family 15 years ago got hurt, with the same thing, in our case it was worst, the person disappeared and gone with our money and he is living a great life in Brazil, this what kept me out or else I would me in the same situation. I don’t know if you read my previous comments, I told everybody my story and another story o people in my country selling apartments on blue prints to 2-3 different persons and run away with the money before the building is finished, I hope it won’t happen in Jamaica.
People has to careful, it’s not because someone was indorsed by another it mean we have to close our eyes and trust, at the end all those people are strangers to us, we can trust close family maybe but in our days we cannot just trust anyone without questions.
I hope you understand what is my message, it for your and others safety, and I am sure people that got hurt by O are going through the same exact thing we went through.
Did you read what I said about my mother, up to know each time she remembers she cry and we have give her pills and sit by her side and put her grand child beside her because he is the only one that can calm her down.
I not here to protect, defend, promote or take side with no one, I am here to give my opinion on another way of how to think or deal with things, may be I am wrong.
For all of you out there that took or wants to take a Forex course or get involved in Forex, if you know that only 5% in the world are successful tell yourself that your are going to be 95% unsuccessful and as soon as you realize it get out please, don’t think that you will make it. For your information, I took couple trading courses one of them with JM, and within 3 months I thought that I can make money and opened a live account and lost it not all but I still have US$49 that I can’t use to trade. From that time I spent about a year trading Demo account! Most of you guys leave the class and go live and loose your shirt! I am not better I did the same thing, but spent the following year demo trading and building my knowledge until I reach where I reach.
Does anybody realize that from the time O stop pay, they did open new accounts and took people money?
They knew that was going down and still accepted deposits, what do we call this?
Where they trying to get some money to pay the present lawyers?
Why did they accept peoples money since they wasn’t paying any money?
@Bas,
The question also is, why where “investors” still pumping money into O and they were not being paid.?
I know one one a medical person who would wire money to O every month since the start of this year even though he knew they were not paying.
What makes me laugh is that DS is asking his investors to give him 9 months to get back their money. Tell me something what is the difference with the coming 9 moths and the past 9 month, did he get a tip from Wall Street that the market is going in way where he can triple his money, or this is the time needed for him to get a Brazilian Passport? And “boom” disappear like a Ninja man. 🙂
@Jay,
Yes lots of them did that, it’s so sad, and can understand how people can do this and still sleep.
Bwoy I am spending lots of time her forgetting that I have a restaurant and customers look after and chat with.
Gone for now, stay safe.
Bas,
Your family has been affected by investments scheme, why then would you endorse MTI….. MTI has been linked to 4 failing investments schemes so far( Olint, Lewfarm, Keen exchange, Kingdom ??).
I dont understand your rationale… Is there a business or family relationship with MTI.
Your family has lost money from these investment schemes but yet you still endorse a company that used these investments schemes as marketing tool??
If my family HAD lost money in a similar scheme there is no way i would then turn around and ENDORSE them. Something JUST NOT RIGHT HERE!!!
Bas,
SOMETHING AINT RIGHT ABOUT THAT BAS
LMAO
SOMETHING DAMN FISHY!!!
CFTC Announces Formation of Retail Foreign Currency Fraud Enforcement Task Force
Washington, DC— The Commodity Futures Trading Commission (CFTC) has formed a special task force charged with investigating and litigating fraud in the off-exchange retail foreign currency (forex) market.
http://www.cftc.gov/newsroom/enforcementpressreleases/2008/pr5530-08.html
Bas,
I have another quick question are you related or have a business relationship with the family that runs MTI jamaica?
Bas, how much money are you currently trading?
I read the first 3 chapters of Martinez’s book — The 10 Essentials of Forex Trading — and immediately returned it to the book store. He made a very poor attempt to motivate his readers and an even poorer one at explaining the FOREX market. This guy has no clue.
MTI/Martinez and DS are shady if not thieves. For the most part, they took advantage of a nation and a people with very little knowledge of the broader financial markets.
I hear people mention that DS was among the top three FOREX traders in the world. And the MTI group played on this statement and took a lot of innocent and naive people to the cleaners. This was a SCAM in the tallest order. Who rated / ranked DS to place him in the top three among FOREX traders? And where are the No. 1 and 2 traders in the world? Wonder if they were part of the overall SCAM.
As an active FOREX trader, let me repeat myself, this market is not for the faint at heart. You will lose a lot of money trading this market, and must only invest funds you can afford to lose. These are not my words, just visit the plethora of FOREX trading platforms and read their DISCLAIMERS. The FOREX market must only be used for a small portion of your portfolio, which is allocated to RISK investments. Can you make BIG profits in the FOREX market? Absolutely, YES!!! But these profits are not sustainable over any period of time. The FOREX market will change direction on you even after your have analyzed it from both the fundamental (News) and a technical (indicators, oscillators, etc.) stand points.
If you really want to learn about the FOREX market, this book should be required reading — http://www.amazon.com/gp/product/0071464654
Read and re-read this book until you fully understand the concepts and relationships between economies / countries. This is undoubtedly the best book on the market.
The authors of the book have a pretty good website, packed with information on technical and fundamental analysis as well. Here is the site: http://www.pfxglobal.com/
And, if you are not able to pick up the book immediately, you might want to start here to get an overview of the FOREX market: http://www.babypips.com/
When I first heard about DS / OLINT more than 3-years ago, I embarked on a journey to study and master the FOREX market on my own. I am far from mastering it, but I am on my way to getting a full understanding on how it works. I have become a pretty good FOREX trader, and do have a small profit to show for my trades over the years.
To put this all into perspective, let me share with the group a breakdown of my trades over the past 2 years:
I opened my account with U$5000. You can start with as low as U$300.
-Month 1 – Down 42%
-Month 2 – Down 17%
-Month 3 – Down 12%
-Month 4 – Down 9%
-Month 5 – Added another $5000 to my account.
-Month 5 – Down 2%
Most of you are probably saying “PIPSologist” is a mad individual. But no, I believed in this market and began to fine tune my strategies. So I stopped trading for about 3-months to hone in on my trading skills and money management strategies.
During this time, I also developed a few programs to automatically trade based on technical indicators. This is a whole other dimension or discipline in the FOREX market.
I started trading again…
-Month 6 – Up 3%
-Month 7 – Up 16%
-Month 8 – Up 34% (a big month)
-Month 9 – Up 27% (another big month)
-Month 10 – Down 4%
-Month 11 – Up 1.75%
-Month 12 – Up 5.25%
-Month 13 – Down 65.2% plus a margin call by my trading platform (this drop was based on surprise U.S. Fed Rate Cut and bail out of Bear Sterns in January 2008)
Yes, I was down 65.2% after gaining much confidence in my trading.
At this point I was devastated and stopped trading again for about 2-months. But I knew that I had developed some pretty good strategies, so got right back into it. I am back actively trading again and am on track to gain about 7 to 8% (Annually) on my original investment. I have also implemented better money management strategies to prevent big drops in my accounts. With these strategies, however, you also limit your profit potential.
I am pretty happy with these results. And now I am much more knowledgeable about world economies and how various events can impact the FOREX market.
PIPSologist
miachica,
There is nothing fishy about me, I am the only one that gave all me information, what’s wrong with you?
Everyone knows everything about me and was I am why don’t you visit my restaurant and then say what ever you want about me?
For the one million time miachica, I took Mti course and other forex courses, and I was asked from MTI about my opinion and gave it, I didn’t say go take the course. I took their course and thank God now I am successful and I liked the course comparing to other foreign courses. I am here to try and help people and not lie on them this is not I was raised by my parent.
Miachica, please do not try to over work your brain about me, Google my name Bassilios and my business name and you will realize that I am no ghost and if there is someone that is transparent here is me and only me, I am not hiding behind a nickname, I hope it is clear now, try to ask some better questions than that.
No I am not related to JM or his family and I was one of his students, if I would be close to him I would be working for him and don’t need to have a restaurant and work from morning until the evening hand by hand with my family, clear?
@Bean,
$50,000
Correction some words are missing sorry because I am cashing and seating some customers.
No I am not related to JM or his family and I was one of his students, if I was close to him, I would be working for him and I wouldn’t need to have a restaurant and….
Sorry 🙂
Bas, how much money are you trading?
By the way my 8 and half pregnant wif is laughing after some of those funny questions 🙂 and I am sure my future baby girl is laughing too 🙂
8 and a half month sorry
Bas, can you post your returns like PIPSologist?
PIPsologist, keep it up, the most important thing is that you are happy and enjoying it.
Bas, is that $50,000usd?
April-May 2 moths up 10%
June July 2 moths up 50% and was down from 60,000 to 39000 but managed to come out on top.
This month so far I am up 9% with 16 trades and no lose yet.
And started another account with different platform and I am up 7% in 3 trading days, duess what I traded 3 time only and win all of them.
Come over and man and I can show you all the details too and live your very welcome, lots of traders visit me and discuss trading together.
No yen 🙂
I am joking yes USA Dollars
Bas
miachica was referring to the Azan family in JA.
Bas, you are doing very well trading. If i were you I would sell that restaurant and your house and put all your money in FX and enjoy your family. Who needs the aggravation of running a restaurant with returns like that!!!
mia
what’s up did you check me out yet, I know why you said something fishy about me sorry I grilled a fish and forgot to wash my hands and typed a message, I can believe the smell reach you, are you in Jamaica or not just to see how far the smell reach.
Do you still smell it because I washed my hands three times before I type this comment?
Man make you life easy don’t go to far it doesn’t help, we are hear to try to find out who is what and what is going on with MTI, ITFX, DS,
It looks like I am better subject, cool. Anyway some of my customer is reading me I don’t know if at this time they are but hi to you all that are online hope you are enjoying this discussion
One more thing it’s demo sorry forgot to mention it 🙂
@Miachica, Re: Bas
Let us stick to the issues here. The issues are many and Bas has woven them all together, let us separate them.
1. David Smith and OLINT
If you read carefully he is not endorsing David Smith/OLINT anyway.
2. Education and Personal responsibility
Bas appears to be defending education and personal responsibility, the think and check idea and responsibility for actions.
3. MTI Role
In Bas’ experience, MTI provided education. If that was MTI’s only intention is another issue that I will touch on later
4. Scams and lack of information cause hurt, and the family tensions
Again Bas speaks to his mother being scammed, and his dilemma with his broker, as a result he is more skeptical.
Now if OLINT is officially shown to be a PONZI/SCAM and MTI/I-Trade FX is shown to be a part of the SCAM then we have some new issues to look at
At that point Bas will have to explain
5. Did he innocently endorse the ‘education’ offered by MTI ? OR
6. Was he an active participant of MTI’s SCAM to bring new lambs to the slaughter?
Endorsements is a serious issue and must not be taken lightly something I have pointed out to Bas
So Miachica, until then we can accept his word(with a grain of salt) as we know time will tell.
BTW we have posted a new thread on Bassilios Hado
wife is laughing! 🙂
Bas,
I believe my question was are you related or have abusiness relationship to the family that runs MTI jamaica…. I was not asking you about the martinez’s.
Do you have a personal or business relationship with the JAMAICAN family that manages MTI Jamaica?
John everything looks fine but the number 6 is not nice of you, if it was the case how can you explain that I gave you all my info Man, are you serious that someone out there still think this way. Do you think I want to trough myself to the wolves and I have so many persons depending on me and a pregnant wife!
Thank you any way what can I say these are your points.
Personal things with my wife and family only these are the only persons that I trust. I have friends yes remember these are people that I dealt with and look after me when I was taking the course actualy 2.
AML, on August 11th, 2008 at 9:41 pm Said:
Bas
miachica was referring to the Azan family in JA.
__________________________________________
LOL excatly!!!!!
no business my only business is my restaurant, I do art also but it’s not my main business
The Azan Family is not related to me, their origine is from Lebanon. LOL exactly!!
Bas,
SO know them personally then??
I have only one uncle in Jamaica and met the Azan, Azar, Shocair, hanna here in Jamaica.
yes face to face personaly is to have something personal, I don’t have anything personal with friends, sorry I love my wife.
SO you friends with the azans then??
mia please ask your question plain forward you don’t help from AML, I will answer you plain and straight forward don’t worry. I don’t have anything to hide! 🙂
Lets check my personal thread
meet me there ladies and gentlemen
Art. Also the interest of JM.
Bas, are you stating that you are Demo trading??? Are you endorsing MTI based on your Demo trading results??? My friend, you have a lot to learn if you are.
Demo trading is completely different from trading real hard earned money. When you are trading REAL, money the whole fear and greed phenomena steps in.
Bas, i think you have good intentions, however you are yet to realize that trading a Demo account is different than trading real money. The chances that you are willing to make trading in a Demo account, you would not make trading a real account.
I myself have traded in a demo account and made 20% – 30% per month. Now ask me if I am able to make these kind of returns consistently in a real account? The answer is, NO. And this is how traders get sucked in. They demo trade for a while, think they have it licked. Jump in with real money and then wonder, What happened????
Bas, my advice to you if you are only Demo trading is to wait until you have traded a real account and able to make consistent profits, then you can endorse MTI, sell your restaurant and enjoy your new baby.
Congratulations by the way on your soon to be born baby.
Bas,
miachica, on August 11th, 2008 at 10:00 pm Said:
SO you friends with the azans then??
—————————————————————————
It cant get anymore straight forward than this. Your the one beating around the bush lol !
@Bas
“5. Did he innocently endorse the ‘education’ offered by MTI ? OR
6. Was he an active participant of MTI’s SCAM to bring new lambs to the slaughter?”
No offense meant all. Note Carefully the word ‘OR’ at the end of point #5
While I might believe every word you say, I am always prepared to look at both sides of the story. I was just demonstrating to Miachica how I think she should view what you are saying.
If everything you have said is true, then my friend #6 is irrelevant and would not be applicable to you.
Yes friend with the Azans
Did you take the MTI classes in Orlando or Jamaica?
Bean you are right I am way to far in Forex education I am studying Finance and Market analysis on-line and when I get my masters I will try the live, it’s not so simple, I lost my money and I do know how it feels to loose your real money. Be safe if you are trading live.
AML in Jamaica 3 times and went 5 times to the free course.
I guess i shouldn’t be surprised that out of the thousands of people that FXThief trained in Jamaica, he was only able to find someone that has not even traded real money to endorse MTI.
Anyway, it’s a know fact that Demo trading is not the same as trading real money. Any real trader in the world would tell you that.
FXThief, next time you choose to run an Ad with endorsements, try and find someone that is at least trading real money and making a living doing it. Oh, and make sure his name is not David Smith either.
Thanks bean for the last comment too in your post.
@Bas…
1. Have you done any live trading?
2. Where are you studying Finance and Market Analysis on-line?
Bean
I was surprised why they used my opinion, may be it was the only one.
But honestly I learned a lot from him and still learning, because if someone think that he can take a forex course and be successful he is wrong, you have an idea about it, it look like you are in this longer than me.
I am doing now with Luca Cornelius, he teaches at the University of NY until I am ready to subscribe to a university on-line. I just want to make sure I have certain level before I spend money and time and be successful and get my degree.
I did go real live yes I said it, and lost everything but $49 and learned a lot from that experience. At that point I did the oposit of all what I learned 🙂
John
for the #6 not to worry man I don’t take anything personal I just wanted to tell you what I think, you have to look at all sides, with you 100%.
I think it’s time for 5% of the people hear to start to realize the I am just saying what is in my heart no more, no less.
miachica can also tell everybody that my nick name in real life is Bas, since she new that I know the Azans.
My youtube name is also Bas1911, my nickname and my birthday date put together.
What more would you like to know?
Can we now try to find out what is really happening with O TCI MTI JM thing please I am tired to talk about myself, please come over and meet me I won’t charge I will offer a free drink and won’t expose you, you can keep your nickname, don’t matter, but lets try to find out what is right and what is wrong.
One more thing Google my name in the picture and you can see my picture proudly raising the Jamaican flag at the European Championship 2007.
Anymore things you want to know, my sons picture was in the Gleaner when he was trapped in Lebanon his name is Georgio Hado check it too!
Is there anyone out there that still not convinced in what I am saying please ask it know, because I soon have to leave you and go back to my normal life and check every now and then for new information about DS.
i Think i would also say it is much easier to trade with a very large sum of money as you have in the demo account as you can ride out the fluctuations in market price while the market makes its move, If you have 5000 trading, and u down 50 pips, u would be tempted to close that trade and avoid that loss compared to down 50 pips in 50k account if u get wat i sayin
yezzirr you are totaly right
MTI just used Bas as a selling tool. A person who has great responsibility is better to pitch than the avarage Jamaican.
hello, anybody there, I just closed the restaurant and 100% in this thread.
AML people use each other every second my friend. That’s life we can’t change it.
Bas, why u think jared dosent ever trade live at the classes
By the way did you see the Sunday Ad, there was another opinion with a picture too
I never asked him because the course that I took was when the market was closed.
when he is doing the mentor online he will call a trade some times
Bas, I like you was a believer. I use to think that Fxthief was a Rock Star and that he was the best thing since slice bread. I soon found out otherwise that he was a fraud. He claimed that he had created all of his trading strategies and that he had developed his Charting platform which is so not the truth.
Let the truth be told;
1. FXthief did NOT develop his charting platform that he sells for $250/mo or whatever he sells it for today. It is the same charting that is available from http://www.fibonaccitrader.com for $45/mo
2. FXthief did NOT develop his trading strategies that he teaches. They are well known strategies that can be found all over the net for a fraction of what he charges.
In my opinion, FXthief is one of the worst traders i have ever witnessed. How many times FXthief would call trades that would go in the opposite direction. In the 12 months that I trained with MTI, I never got one good trade from FXThief. Every Trade he called in the mentor ship failed just about. It almost seemed intentional like he was leading us to lose our money.
It got so bad at one point that the students developed a strategy amongst ourselves that if the FXThief called a trade, just take the trade in the opposite direction and it would turn into a winning trade.
I have no evidence or can find any proof of FXthief prior experience in trading FX. There is proof that he was a Stock Trader, but nothing anywhere that he traded FOREX.
Caveat emptor, this man is a fraud.
editor of this thread my required e-mail is my personal e-mail too 🙂
Well what i found strange about the MTI classes was it was like there were certain ppl who were brainwashed by him…..anything he said they agreed yes yes….Tried to question him, and ur ridiculed. I can say i think the MTI classes are a waste, but thats my Personal view. I agree with BeanStalk…one thing JM is is a very very very good motivational speaker. After his class u feel u can be a super trader. Everything seems simple, abcd, crossovers, straddles, ect. Then not to mention at least 2wice per 30mins, Itrade Fx is promoted and You are solicited to sign up with them. sigh…what waste of money
1. FXthief did NOT develop his charting platform that he sells for $250/mo or whatever he sells it for today. It is the same charting that is available from http://www.fibonaccitrader.com for $45/mo
Right or you can by it too you don’t need to rent it.
2. FXthief did NOT develop his trading strategies that he teaches. They are well known strategies that can be found all over the net for a fraction of what he charges.
May be but the 3am candle trade he developped it unless you know someone that teaches it out there, in my courses no one knew it.
In my opinion, FXthief is one of the worst traders i have ever witnessed.
May be you are right or wrong, I don’t know I wish I can find out.
3am candle is a waste of time. Even the Admins at MTI will tell you that they don’t use it. Pure Garbage. It’s all gambling and luck of the draw.
not to mention at least 2wice per 30mins, Itrade Fx is promoted and You are solicited to sign up with them. sigh…what waste of money
Remember it’s their family business
Well what i found strange about the MTI classes was it was like there were certain ppl who were brainwashed by him…..anything he said they agreed yes yes….Tried to question him, and ur ridiculed.
It didn’t happen when I took the class, but one thing is sure, the students was sick and tired from my questions, but he did run lots of jokes and put some funny video clips.
Bean,
🙂 I tried it once, after I struggled to wake up I lost both ways.
Now I sleep and trade only when I have time.
Everthing FxThief does is a strategy. Those funny video’s that he shows in class is all a strategy. Make people laugh and people will like you. This man is well read and very intelligent.
Sorry John, no problem lets change the subject and try to get some useful info about the so called scam.
Bas, i hope at least you will garner some business from all this publicity. I think you have been used and thrown into the cage with the crooks. Take my advice and do not attach yourself with MTI. When the going gets tough they will throw you to the wolfs like how they threw DS out into the woods.
Bas i agree with Beanstalk. You see how the treated david S. I was at a class where he came and he and jared talked to the class and jared was vouching for the man and sayin he is a family friend and completely trusts that he is legitimate. No they turn around and release that add. tust me bas, stay far from them. they are users. only thing they see is $$$. Hope your business increases tenfold after they used you like that
Bean,
I will take in consideration what you said and try to be safe thanks.
I am going to sleep now, tomorrow is another day, my wife is upset with me, she don’t want me continue with this. Can’t upset her, she’s my soul, my every thing and she has my future baby girl in her, and wouldn’t upset her for nothing in this world.
Nice chatting with you all and all of you stay safe, and if you miss me or feel hungry, try my restaurant.
Stay safe.
Thank you Yezzirr for this advice and for the great wish for my business, yes the increase is needed.
stay safe man.
So MTI used Bas as a spokesperson for their classes….but he only has a demo? Am i right?..Please tell me I’m wrong PLEASE. Does the ad state that he doesn’t trade live? That’s false advertising.
InvestForLife:
I’m feeling a bit silly here, but how does one post under the new thread (bassilios-hado-views-on-mti-olint-david-smith)?
http://www.jamaica-gleaner.com/gleaner/20080812/business/business1.html
As usual, the Gleaner takes an interesting development and manages to contribute to the confusion of local investors. Trading futures and options is different from trading spot fx. All of these are different from issuing investment contracts or pooling investors’ funds to provide a return from a traders fx trading.
The article does at least mention that the CFTC is working with state securities regulators to combat the fx scams. However, the average reader who knows nothing about financial markets would be left with the impression that the Olint problems for Jamaicans and TCI folk are problems in the fx market when they are not at all.
Sloppy, sloppy, sloppy … but what else do we expect?
investforlife – time for an article on fx trading versus securities/investment dealing maybe?
@DaveSin, My Mistake
You can all post under
In order to keep the train we need to move on from actively posting on this thread.
@Bob, I would appreciate if you could you write a full article on the issue you highlighted. I will post it as an article. Thank you very much
http://74.125.45.104/search?q=cache:jEAFJUntLoMJ:www.forexpeacearmy.com/public/review/www.itradefx.com+http://www.forexpeacearmy.com/public/review/www.itradefx.com&hl=en&ct=clnk&cd=1&gl=us
The Peoples Champion, None of your business.
Rating:
Date of Post: 2007-10-01
Review: To all former and prospective clients of ITRADEFX.com: I, as a GENUINE former employee of this wretched regime, will give you the real deal Holyfield about this shameless house of cards.
Before I commence with my rant, I would like to say that you, “QPX”, are nothing but an apologist for a rogue band of snake oil salesman, pure and simple.
For starters, the workplace environment alone was enough to make every women’s rights advocacy group, trial lawyer, and governmental regulatory body sharpen their fangs. I’ve seen sexual harassment, favoritism, and chauvinism to the highest degree go unchallenged out of fear. Bottom line: If the authoritarian figure’s who behave in this manner treat their own in this way, what makes you think they would care about you and your money?
Second, instead of helping people, I was encouraged to withhold, over blow, and distort the truth about the high risk of Forex to credulous novices with stars in their eyes. It would be fair to say that those clients were the main source of our income; For this reason, is it any surprise that they concentrate their marketing efforts in third world carribean islands? Connect the dots.
Also, for the President of a business to even acknowledge and post a retort on a website called “ForexBastards.com” should give you some indication of how petty this hayseed organization really is.
In conclusion, I do not mind bearing the cross of being dubbed a disgrutled employee, smear artist, or what have you. This diatribe about this organization is not about me. It is a message to those who are oblivious, sitting on a pile of money, and itching to do something with it. I say this to you: Speculative investments, be it stock options or currency trading, is just that, speculation. In other words, Forex is a shot in the dark. “What should I invest in.” you ask? I don’t know. However, one thing I do know, is that we all have inherent talents instilled within us that can bring wealth into fruition. It’s just a matter of how creative you are willing to be. How is that for advice instead of looking for answers about what to do with your money from some huckster guru who has his own plans for it.
I am so glad that something is finally happening to these fake ass people. I knew there was something wrong with these people when I started working with them. I was in the green and everything was always so freaking hush hush!! I really feel bad for the Olint clients and just all of the clients involved with this shit!! You think you only see this type of crap in the movies or on the news. I have seen so many employees loose there jobs including myself behind some scandalous crap. These people have their heads so far up their asses it is a shame. I am disgusted. It seems to me that they helped someone else steal other peoples money and made a profit as well. I am glad I am not employeed and receiving a pay check from these folks any more. My hands are clean. God sees all…. These people are forgetting who owns this. You can’t continue to do people wrong, eventually you will get caught up. I just pray that these people get there money. Just to think I almost had my friends and family investing into this shit!! How humiliating…… Unprofessional!!!!!!
MTI and Jarred Martinez are legit. I took their UTP course and practiced in a demo account.I did trades on my own as well as some trades from the teachers there. I lost money on both counts but it was not real money. I full filled my obligations in the UTP course and requested a full refund and received a full refund in 4 weeks. Just because the course did not make me money it does not mean nobody can make money from the course.
Fascinating that all of this was going on 5 years ago. Fast forward from 2008 to 2013 and nothing has changed. Market Traders Institute is still around scamming people with their overpriced and basically useless Forex product.
The company claims five parts to their program
1) Online Videos 24/7
2) Online classes
3) Systems
4) Mentoring
5) Onsite class
A change was made so that students did not have to take the onsite class because of so many complaints. People were complaining about having to travel all the way to Orlando so they could take a onsite class online if that makes any sense.
There were a lot of technical issues with the videos and information was basic, basic, basic. I didn’t find this information worthwhile
The online classes were a joke. The so called trainers seemed almost as green as I was and only reiterated what was in the Ultimate Traders Package. This was useless as well
Systems? There seemed like there was no system to their systems. A complete waste.
Mentoring? This comes from the FX Chief. Jared Martinez is very charismatic and seems to be very knowledgeable about the Forex. His incessant jokles got a little old and seemed to take away from the content of the so called mentoring. We didn’t pay to hear somebody tell stale jokes.
Online class- Very basic, basic, basic information. Nothing exciting here
So while there were a lot of complaints back in 2008, guess what? There are also a lot of complaints in 2013 and were a lot of complaints in 2012, 2011, 2010, and 2009 but MTI is still around. Incredible.