G7 forex system critiques
There is a CFTC finding against James de Wet. Read the details here. Every now and then the great trader starts a new project and posts a hell of a performance - as long as it is positive. Then everything tends to vanish.
Have just seen that james de wet website - forex-science. For god's sake DO NOT buy anything!! The latest 'snake oil' is his 'D5' system, once-a-day set-and-forget - it is an utter disaster and if you use it you will go broke!
This guy was stopped from using Clickbank and Primus because he doesn't give refunds when you find his systems are failures,so be warned! Please understand that James is above all an internet marketer,not a trader with proven background. I did attend few of his projects and lost a lot of money and he did not bother to answer emails.
Do yourself a favour and check his previous "achievements" regarding fund mamagement. I have not done so and can blame only myself.
At least you have been warned! Today received email from James giving a 'trade setup' using his 'new system' called 'D5'. It got stopped out. At leat the new system is being pitched for what it's worth, i. For god's sake NEVER trade with real money using systems from this man or you'll go broke VERY fast! I bought the bounce system and like everyone else lost hugely in March - so I'm down the cost of his systems AND the losses they've caused!
DO NOT buy the 'snake oil' being peddled - he makes his money doing internet marketing and needs it if he's also trading his own systems! Lastly, he stopped using Clickbank because he doesn't give refunds when his systems fail to meet the claims! I was a member of Labrat project. On his sales video, he said that he would give us a blueprint to become successful traders like Richard Dennis did.
I was so serious about it and I left a well paid job to study his trading method. I studied so hard but I could not make a profit. I was not the only one who lost money every month.
This was a year project but he gave up in the half way. I asked him why and he said that because we did not pay him. Well, the reason we did not pay him is because we did not make any profit. I was quite shocked to hear what he said.
I felt like I was betrayed by him. I trusted him and I believed him. He could be a nice guy but he was not a good mentor at all. I am a full time trader which used james systems to trade small accounts. I only demo it to be honest.
Guys, it was a complete failure. I was a part of so called Forex-Science 50k challenge. James is an ordinary marketeer who earns his money by scamming people and promising great results. He was also selling Raid and Game maker..
Me being a full time trader have bought Bounce and took his trades on DEMO account. Believe me it was a complete disaster. His trades went in slight profit over a few months then all of a sudden it started going wrong and all went to BE, even worse. Game maker and Raid were total failure having over pips loss in one single month. Then he started spamming emails about trade copier and you know the rest of the story.
Most traders have lost their money. Being a full time trader I can say: Stay away from this conman. This says it all: Hi Dave Firstly, I aplogise for the lack of communication from my side over the past week. I have been taking time to consider my path and that of Forex-Science moving forward into the future. I have also been battling through some personal issues which I don't want to discuss here. At the beginning of last month, I stopped offering training and signal services to Forex traders, and opened the "trade copier service" to predominantly my Charter Group members.
If you are a trade copier, you will know that the results have been less than successful and the current result is I could say a lot more about the drawdown, but I'll keep it simple: The market hasn't been easy, but I have also made trading mistakes and errors of judgement.
I am not making excuses - it is what it is. As much as I dislike to see my copier clients in a drawdown, this IS part of trading and these risks need to be accepted.
G7 FOREX SYSTEM CRITIQUES or Million Dollar Trading Challenge
After over a decade of trading the markets, I have finally decided to "hang up the boots" I will be stopping all trading services indefinitely, including all training, courses, signals and the trade copier. I will be focussing on my own personal trading and one or two large clients.
The reasons for this are various, including personal reasons, and I don't feel it is necessary or appropriate to go into them in this letter. For those who have followed me for years, I thank you for your support and, in many cases, friendship. For those who have followed the trade copier, a few good trades will easily recover the current drawdown, and the market is bound to offer those opportunities soon - perhaps even this week.
I will certainly miss the work I have done with thousands of traders around the world for so long, but on the other hand, it gives me the chance to focus my trading on more specific funding.
If you are a trade copier, please contact 4xSolutions to ask them to cancel your copier account with Forex-Science. They may be able to recommend other copier services to you if you enjoy the concept. Take care and good luck for your trading future James de Wet. James enters a trade, then disappears.
He is taking absolutly no responsibility for his managing of people's money. Had to close all out manually, one was up 33 pips, his rules for the "bounce" system is TP at 30 pips, but the man ignores these rules. He doesn't return e-mails, arrogant. Don't trust the man- stay well away!!
This is a reason I decided to make a note and warn others. I started this program 6 weeks ago and the results were during this period all the time below BE point,with horrible win loss ratio.
Forex Science | G7 Forex System | James de Wet | umypecodayok.web.fc2.com reviews and ratings by Forex Peace Army
However every experienced trader knows this can happen,but what came as complete surprise was his atitude and arrogant approach; 1. System Bounce system rules were not obeyed and trades were taken as he claimed due to"other technical analysis"when DD was very big. For me it was the reason to qiut no matter what the outcome because on his website he stated; Never any deviation to the Bounce trading rules without exception. I am not new to trading and know because of this breach of rules this program become useless from a learning point of view as one will never know if the system itself is able to recover from streak of losses WITHOUT OTHER TECHNICAL ANALISIS.
Money mamagement rules were broken few times sa well.
G7 Forex-Science Strategy/System Review
On his website he claimed; Maximum daily drawdown 4. When I asked him a question via email regular live webinars were cancelled immediately when things went badly wrong which he claimed to be answered in 1 or 2 days never got answer but instead he started to sent me promotion emails to Unbiased Forex Broker Experts. Review and Ratings Forex Training forex-science.
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