Trading Elite Club (T.E.C) Discussion

Some Interesting posts regarding Forex121.

I knew of the link with regard to FXClub before I joined Forex121. I looked at the videos, historical blog, did the free trial and spoke with Dan before joining.

I cant comment on FX500 as I was not a member but it must be difficult to run such a service, and keep everybody happy all the time as they will have different needs and wants.

All I can do is judge Forex121 as I experience it and for me it is delivering on what is has set out to do and long may that continue.

As for peoples motivation, not everyone has the capacity to be profitable trader, so such services will appeal for a number of reasons, for example;

1. I am working fulltime in a busy job and need extra income (as many do in current climate) and cant watch the PC all day.

2. I am a stay at home mum, I cant get a job due to kids and cost of child care, can trade some but not all the day, around the kids.

3. I have been made redundant, I do not have good prospects of finding employment quickly, I would benefit from FX education, but the idea of signals at the same time appeals, so I can earn while I learn.

4. Ive been trading/learning FX for a couple of years, self taught and would benefit from a mentor, also the idea of signals means i earn while learn, and use small stakes on my own trades

5. I trade the M5 but hate being at the PC all day, the idea of trading longer t/fs appeals and 2/3 trades per week sounds ideal

The point is everyone is different, and people will learn something about themselves, ie they will discover whether such a service will work for them.

I actually think the Forex121 is the real deal but like any business i have realistic expectations so its a long term plan

ST
 
I paid for a month in Dans fx500 a couple of years back, was OK if that's your thing. IMHO trading rooms can never work, but that's not to say all of these guys are out to fleece you, there is simply an inherent irrecoverable flaw in the concept; in encouraging membership they have to encourage you to trade of time frames completely at odds with best advice practice. No newbs should trade on anything below the 2 hr, possibly 4 hr. If trading rooms promoted that then they would never have a business model...
 
Some Interesting posts regarding Forex121.
I actually think the Forex121 is the real deal but like any business i have realistic expectations so its a long term plan

Whenever I see it's a long term plan in relation to these things, it usually means it doesn't make any money, but the vendors have told me this to keep me paying for at least 6 months.
 
I agree that live trading rooms and trading signals are cannot work on short timeframes.

I want to learn the longer timeframes hence the attraction to this service.

ST

I paid for a month in Dans fx500 a couple of years back, was OK if that's your thing. IMHO trading rooms can never work, but that's not to say all of these guys are out to fleece you, there is simply an inherent irrecoverable flaw in the concept; in encouraging membership they have to encourage you to trade of time frames completely at odds with best advice practice. No newbs should trade on anything below the 2 hr, possibly 4 hr. If trading rooms promoted that then they would never have a business model...
 
Yes that is common practice and was certainly the case with TEC.

However, I am sure you would agree that trading longer timeframes takes longer as the signals come less frequently than M5 and unless you are trading with a large banks, and depending on your attitue to risk, its going to take longer.

ST

Whenever I see it's a long term plan in relation to these things, it usually means it doesn't make any money, but the vendors have told me this to keep me paying for at least 6 months.
 
I paid for a month in Dans fx500 a couple of years back, was OK if that's your thing. IMHO trading rooms can never work, but that's not to say all of these guys are out to fleece you, there is simply an inherent irrecoverable flaw in the concept; in encouraging membership they have to encourage you to trade of time frames completely at odds with best advice practice. No newbs should trade on anything below the 2 hr, possibly 4 hr. If trading rooms promoted that then they would never have a business model...

yes you are correct,with experience,traders can make profit on 1hr above.
daily 4hr with a check on the weekly to confirm is the way forward let price come to your entry not the other way around.
guys like dan cant trade for **** and plenty of guys willing to take the short cut go for this gambling type mentality.as we have seen with a monkey like pappa c any fool can make money from the lazy get quick rich threads and as they say one born every second,not minute.he didnt last too long but made a pile but guys like him will only lose it all.
just like that alkey david dud robertson.
like blackswan and others have stated its doable if you want it,it really is and its a business not a slot machine.
a friend of mine has done it in 3 months but he had cash,and the right mental vision.
an old friend now lost 20k in a month.this is the call.gee im down 18k.
wtf isay what trade you in!
13 all $ long end of story,we dont speak now he blames me the world.is there any good services out there yes maybe a few.but you are stopping you.
when the light bulb goes on so will you.
im i lucky yes very, the harder i work the easier it gets.
tec ave **** him as well as most the capital providers on here long may you trade
 
For a laugh I thought I'd check out the old Trading Elite website and I was surprised to find that the damn thing has been given a makeover!

Home Page

Surely Pappa C is not planning a re-launch?!?!
 
Same old, same old though, click on 'How it Works' and you get 'This page is still under construction please try again soon. Thanks.', click on 'Performance' or should that be 'Under-performance' and you get 'We're sorry the data for this page is still being collected and will be available as soon as possible. sorry for the inconvenience.', strange since he has been apparently 'succeeding' since December 2010 :LOL::LOL::LOL:

Really I guess that he would be better off just cutting all the twaddle out on his superduper new site and just register as a charity! Donation? £100 per month with NO REFUNDS :LOL::LOL::LOL:
 
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25 Jan 2011 – Hi all, following the removal of the thread on Biz Ops I thought I create this one to continue tracking performance and info on TEC.

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If you do a google search for Trading Elite Club, the T2T page and this thread is the first entry you will find. The TEC site and the Cashmaster endorsement (shame) are 7 and 8 on the google page.
So TEC will not rise anytime soon. This is a great credit to everyone who contributed to this thread and the administrators for letting it run, even, it was a bit hairy at times. Paul Chalmers will surely resurface somewhere, sometime, but it will hardly be as Paul Chalmers if you get my drift. Thanks to this thread and site, the names TEC and Paul Chalmers are unmarketable through any internet presence or method at present. That does'nt mean it cant or wont happen but this thread has made it all the more difficult. Cashmaster as far as I can see continues to thrive, teflon springs to mind. Maybe he will be be more careful with his endorsements in the future. I wonder what he made in affiliate fees from Mr Chalmers, or if got paid?
ANYWAY JOB WELL DONE
 
so far 28 pence , but it only started yesterday and not all members are getting the signals yet , so he is working on it ,,,,,,again
 
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