TheCrapOver
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You're*, and no I'm not.
The crap over, your just the same as the rest of these bums, your the same person. We'll see you soon
so profitking, to cut a long story short.
You lost money following MTA, then went and traded for yourself and started to make a small profit.
My answer to accusations about MTA taking any referral fees, spread commissions, etc. would be this;
NO **** SHERLOCK.
I referred a mate to my Professional Indemnity Insurance supplier the other month and received a £50 Amazon voucher. Referral fees happen in just about every industry in the world. Do MTA try to hide it? No. In fact when a few people in my group were slow to sign up to the new broker, we were told "you must move as the broker sponsors your training".
This is a straw man argument; nobody is objecting to MTA exclusively on the basis that they make their money from referral fees.
Presumably there wasn't any conflict of interest arising out of your referral to the insurer..? "You must move as the broker sponsors your training" is hardly a disclosure of their conflict of interest and more of a ransom: if you don't move your money we'll not provide you with any training.
In any case, I'm not going to re-hash the objections to MTA again as they are clearly outlined throughout this thread (post #127 is a good start), but I'm glad you've found relative success in your trading.
Billdonn90 – you made a couple of interesting comments.
First about the signals given by MTA:
“… ultimately you’ve made the choice to open the transaction, so you alone are solely to blame”
So, it is the apprentice’s fault when he/she loses a trade because of bad advice from MTA. Are you that naïve? That’s like ending up in the wrong town and it being your fault because you chose to follow the wrong directions of your SATNAV (after that I would not trust my SATNAV and take it back and demand a refund).
You second interesting comment, when talking about the broker commissions.
“… but they have to. How else are you going to keep the team on …. These people have lives like yourselves and all need paying”
So what you are saying is that MTA do not make their money from trading buy rely on the broker commissions and money they charge for Bootcamps etc.
If MTA had a good trading system we would all sign up tomorrow, but they don’t. Instead they make their money from the apprentices and broker commissions (standard IB sign up scam) and to achieve this they lie, fake and splatter social media with sales tricks. Surely that is what this thread is exposing with a lot of clear indisputable evidence.
That is a verbose and passionate defence of MTA.
I don't think you needed to cross into personal attacks with your comment "Are you any better yourself? Or a bitter person with nothing better to do? My personal opinion would be the latter! "
Billie; My answer to this would be, not exactly a personal attack but fair enough.
I think answering criticism is much better than attacking it, something MTA have failed to do. I would suggest passing on the points made with clear evidence to MTA and asking them for answers (the infamous fake trade mentioned several times for example).
Billie; not my job to pass information onto them, and matters like that can't be answered by meself, especially when I haven't looked into detail the "evidence" supplied. Nor do I have much interest as I have no problem with the product itself and don't need to question it from my personal experiences.
Can you not see how bad it looks when you say the apprentices have to analyse the signals from MTA and decide which to take. The student has to review and correct the Masters work.
Billie; different lifestyles/worklives etc suit different trading styles so you need to see for yourself if it is either a long or short term trade for one and for two what exactly are you learning at all if you haven't given something the time to research and understand reasoning into something? How will you ever improve yourself if you just want spoon feeding? As someone who wants to grow and improve I expect of myself nothing less than to not make a decision and follow blindly something until I fully understand and completely agree. And if my opinion on a trade was to differ from that of a signal isn't to mean it's bad it's more that I may have a different criteria I like to meet. Is that understandable?
The fact that Matt Travis and Mike Douglas do not make enough money from trading to pay to costs of the business is not a good sign.
Billie; again not my business to answer, I would assume that they do. My previous point being a different area of the business having its own income isn't exactly bad business sense is it and I can't understand your opposition to this.
You said "And then you'd see not one attempt is made to take money from your pocket."
Is that true? Is the MTA app free? Are all add on training sessions and boot camps free?
Billie; all added training is optional, I for one haven't attended any, but those which have all know the price before hand and if they were unhappy with the original material handed to them then why on earth would they be silly enough to part with hard earned money if they were that bad? Which is testament to the fact clients are happy about this and make a choice themselves so why begrudge Mta for this?
Hopefully your training included details on brokers and spreads including the difference between Forex trading and Spread betting (especially the wider spreads in spread betting and how it is more if a bet than a trade).
Billie; yes I know the difference between cfd and spread betting, I am currently using spread betting and some of the spreads are as low as 1 pip, and most are generally lower than any cfd I have come across, the only time they really widen is around high impact news but we all are taught this early on. So again no issues here.
Do MTA just get an introduction fee or do they get a share of the spread? (I assume MTA has been made this clear so you should have no problem answering).
Billie; I am aware, I have no issue with this? Why would I? Does it not work better if everybody succeeds? E.g. Over time the success of the clients would mean larger accounts, and higher pip sizes on entering trades. To me that seems like there would be a larger reward in the long term if the clients are successful, so why wouldn't they be aiming to do this? It's the smart business solution long term wouldn't you agree if they are receiving any spread?
Please don't misunderstand me or my intentions. If MTA has something good or if it works for you then that's good. But a number of valid points have been raised that MTA need to answer, up until now all they have done is attack anyone who dare speak up.