I am brand new to FX. Purchased one of those programs or EA I guess they are called to work with Meta Trader to make money with Forex. A few days later I get a call from Precision FX (Stellar Forex Consulting: Stellar Forex Consulting Group (SFCG)), guess they are the ones selling the Boomerang EA, Trying to sell me a Teaching/Mentoring program. Does anyone know about this company or web site and if the information they teach is worth the money? The want $4589 for the program?
Thanks
I would suggest spending time on this site first before spending that much on a course. There is alot of really good info here and plenty of people willing to help you with any questions that you have.
Not to say the course is no good however i have purchased courses before and found most of the same info for free here.
That is an Up sale tactic. Since you already bought something from them that was less expensive and found their company/product interesting, they know it is increasingly likely you will buy a higher priced product from them.
The course could have good info, I don’t know. But, I would devour everthing you can on this website first. Then try it all out on a demo account. That way you at least have a base to judge any programs from.
Most people will tell you buying EA’s and training programs are more or less a waste of time.
It’s usually implied in an EA or training program that it has all the information you’ll ever need, all the answers and you won’t have to learn anything more. Some of the really scummy one’s try to make it off like they are selling a secret holy grail.
I can just about guarantee anything in that 4K course, you can learn here or in some good books from amazon that cost at most $80 bucks.
You should also ask your self the most obvious question. If their EA & training program is so good why bother selling it? Why not just use to train about a dozen traders and start their own trading house and make a bazillion dollars.
Read the school here. I just saved you 4589.00 
If you want to send me 10% of the money I saved you just let me know 
The flat out results are this - any company who is trying to sell in that manner is FULL of it. Go get “Trading in the Zone” by Mark Douglas on Amazon as it will be the most important part of your sucess and get a method that works for you. Read the Babypips school before you take a trade, and I would suggest trying a handful of different methods out from this very site. See what vibes for you and what doesn’t. There are great methods on here that I would be **** at trading simply because they don’t fit my personality. Trading is an individual game, and requires individual methods, and you won’t know it until you see it.
As for your software… I would steer clear of most of those “89.00 EA THAT JUST MAKES MONEY” sites. Most have been shown to be a) scams, or b) regurgetated methods you can find for free here or elsewhere.
“Trading in the Zone” by Mark Douglas
I second that!!! That is one of the best books for trading it teaches you the most important aspect of trading and the difference betweent those who fail and those who succeed.
heres a great link to tons of free and usefull ebooks. save your money for a real account and learn for yourself. besides there is alot of us here that are to happy to answer questions. Alot of us have a "give back mentality and we learned freely so we teach freely
That was the first thing that came into mind. If you are so amazing at Forex why are you selling a course when you could be making a ton more money with I’m sure a lot less work. Also I have found nothing to support their claims except stuff they have put out (emails, web pages so on). No 2nd party reviews and testimonies (plenty on their web site and in their emails of course). So I think the advice here is the best, save the $4500 and buy a book, study the stuff here and elsewhere that is free. Then, if I am successful with Forex, let it pay for a course down the road if I need it or what to take one.
Thanks, All.
Copyright 2000 Prentice Hall, on the 2nd page. But thanks, now that I have it I can read it and I hope not get arrested.
Thanks
Are any of you here (in this thread) earning a full time (or close) income with Forex?
Steve
Is this a good book for learning Forex “Forex made Easy” by ****s?
Thanks
That’s interesting! I am also brand new in Forex. I bought also a program (autopilot, FAB Turbo). I also got a call from these people. They claimed to be involved with Fabturbo. They wanted to charge me about $3600 for the 12 months Tuition, 6 weeks 1 on 1, and the rest participation in a kind of webinar.
I felt they hadn’t introduced themselves properly and wanted to know more. If felt they were quite reluctant, and rather wanted to get my personal details. So I had to interrupt their overpowering wordy attitude. And finally they claimed that their company did the Management of Fabturbo. As I insisted further they referred me to the Stellar Forex Consulting Website. When I said I needed to study it first before I would consider any further discussion, they got pretty angry and ended suddenly the call!
The website is phony, I found. Login exists, but no signup! Links to Education material from other websites only.
I decided they were not serious or trustable.
Later I looked the website up in WHOIS. Registrar is Precision FX Inc. (This is the only information, all other details are hidden)
Googled it and found some references to fraudulant behaviours.
Now, if they are indeed involved with Fabturbo Autopilot, then this purchase was probably a mistake.
Does anybody have had positive experience with Fabturbo?
Thanks!
I have just purchased FAPturbo as well and it seems to have much better support. They gave a good bit of information on setup of the program and how to use it, With Boomerang no support, it seemed to me to be nothing more than a lost leader to get your name and phone number. I haven’t gotten a call from Precision FX or Stellar (unless they say my name from my boomerang purchase and knew not to call) and I haven’t seen any indication they are associated with FAPturbo. There is a lot of positive information on the forum FAPturbo has, but it is also real easy to seed such a forum. As far as the whois info. I have found one of the best indicators if a company is for real or not by how long they have purchased the domain for, if you see that info. So we will see, thank good for clickbanks MBG.
I bought FAP Turbo a month or so ago (I lasted a week demo-ing it and gave it a miss coz of losses, not that it wouldnt work I guess, its just not for me) then got a call from Stellar…"we have “The Secrets”! they cant show or explain to you what that means though coz they have to protect “The Secrets” with a contract!
Boy I was dumb, and they prey on us newbies to make a quid. As someone else on this thread rightly pointed out - if their “Secrets” are so damn good, why arent they using them to make money?
BECAUSE THEY DONT HAVE ANY!
Long story short, I could only give them $1600 for a part of the training course, then found that the course was a load of crud.
I had already been scammed by a mob here in Oz to the tune of $9,800, so I was a bit desperate to work at getting that back somehow.
THEY KNEW IT, AND STILL WENT FOR IT! Unbelievable… lowlifes.
But trying to even discuss this with them was impossible coz they’re not available after they get your money.
I would consider it a scam and a complete waste of money. They even referred me to (free) BabyPips to get tuition at times!
The “mentor” was a very nice guy, but that certainly doesnt justify the outlay.
I would love to get my money back but…
I recently posted quite a nasty reference to scamming re �Stellar Forex Consulting� and �FAP Turbo� here on BabyPips.
After speaking at length with actual person who IS Stellar Forex Consulting, (NOT the marketing machine LOL) I now have a totally opposite point of view, and I feel it only fair to post this to correct any harm done.
It seems a couple of unscrupulous types involved with the marketing company that were hired by Stellar Forex Consulting are essentially to blame for my negative experiences, and in fact the boss at Stellar had no idea that his company was being represented in the way it was.
Neither did FAPTurbo.
Both Stellar Forex Consulting and FAPTurbo have apologised profusely to me and have offered to compensate me for any inconvenience.
Stellar have agreed to refund me my money, and that is to me a sure sign that Stellar Forex Consulting is NOT a scam, obviously neither is FAPTurbo, who are at the mercy of the same marketing company.
�but a couple of �over eager beavers� who work for the marketing company, who I wont name here are, I suspect, a different kettle of fish.
The Training program at Stellar Forex Consulting is a particular �style� of trading that I found to be essentially incompatible with my personality and goals re trading.
My drama with that began when I attempted to address that fact with the BS marketing guy who was claiming to be a �Senior Consultant� with Stellar, and wasn�t even employed by them. He was basically deceptive from the start.
Naturally he didn�t want to know about me and my issues because he has zero authority to actually act for Stellar on my concerns. So after 3 weeks of me trying to get to him in vain, I was wrongly annoyed at Stellar. Hence my nasty posts in reference to Stellar.
FAPTurbo is in the loop here coz the same marketing company is tied to both. Apart from that Im not really sure how sales info travels.
But it seems the first call is from a marketing guy who claims to be with FAPTurbo (and isnt) and then the next one he passes you on to on the phone claims to be with Stellar (and isnt)!
From there on its a total circus.
Ah the silly games people play…whatever happened to,“Hi my name is Bill, and I sell this, want some?”
Apparently Stellar is reviewing things from the ground up, (not surprisingly) and experiences like mine and a couple of others I�ve heard of, are not likely to ever happen again.
Dear Friend:
I am not sure how many of you are traders or have been for long enough to know how some people and companies in this industry really work. I have been a trader now for many years and have learned some very scary things out there about some companies that are taking many of you for your money.
First off the forex is an investment. Please take a look at this site and read what a broker has to say about forex trading.
The following is a quote directly from the broker you can check the source out by going to fxcm.com (scroll to the bottom where it says �Investment Myths�)
Investment Myths
Investment Protection
The foreign exchange market is one of the most popular markets for speculation, due to its enormous size, liquidity and tendency for currencies to move in strong trends. Presumably, these characteristics would enable traders to have tremendous success. However, success has been limited mainly for the reasons described below.
Many traders come with false expectations of the profit potential and lack the discipline required for trading. Short-term trading is not an amateur’s game and is usually not the path for quick riches. Though currencies may seem exotic or less familiar than traditional markets (i.e. equities, futures, etc.), the rules of finance and simple logic are not suspended. One cannot hope to make extraordinary gains without taking extraordinary risks. A trading strategy that involves taking a high degree of risk means suffering inconsistent trading performance and often suffering large losses. Trading currencies is not easy (if it was, everyone would already be a millionaire), and many traders with years of experience still incur periodic losses. One must realize that trading takes time to master and there are absolutely no short cuts to this process.
The most enticing aspect of trading currencies is the high degree of leverage used. Leverage seems very attractive to those who are expecting to turn small amounts of money into large amounts in a short period of time. However, leverage is a double-edged sword. Just because one lot ($100,000) of currency only requires $1,000 as a minimum margin deposit, it does not mean that a trader with $10,000 in his account should easily be able to trade 10 lots or even 5 lots. One lot is $100,000 and should be treated as a $100,000 investment and not the $1,000 put up as margin. Most traders analyze the charts correctly and place sensible trades, yet they tend to over leverage themselves (take a position that is too big for their portfolio), and as a consequence, often end up forced to exit a position at the wrong time.
If an account value is $10,000 and the trader places a trade for 1 lot, he is in effect, leveraging himself 10 to 1, which is a very significant level of leverage. Most professional money managers are not allowed to leverage even this high. Trading in small increments on the account will allow the trader to endure many losing trades without experiencing large monetary losses.�
Many companies out there sell this type of investment as a disguised get rich quick scam. What they will tell you is that you have been selected from a pool and one of the lucky ones that gets to work one -on-one with a coach or professional mentor. (Like you won some sort of prize) Be very careful some of these salespeople are very very good.
This is how it works, they will have a two part sale; meaning you will be talking to two people, one guy is a finder who finds out if you have money by telling you he is going to help you get out of debt or some sort of reason for him calling. This may be done in many ways, you bought into some deal on the internet and they are screening calls or they are just checking to see how you liked the product. This part of the sale has one purpose, to see if you have money. They will tell you things when you ask them questions like, �I don�t know I am only a junior associate� or �I haven�t worked here very long� or my favorite, �this company doesn�t allow me to get into this industry unless I have worked here at least 5 years�
Let�s go back to the basics, IF IT SOUNDS TOO GOOD TO BE TRUE IT IS!!
The goal of this stage is to see if you have money so that you can go on to the next step. This second step is the grabber, the closer, the senior director, or some sly name for a closing salesman. These people don�t take no for an answer unless you hang up on them. They will tell you they are looking for a few people, hit your pain just like a normal sale would go. They will tell you in some cases how much money they make or that they are �hooking you up with traders that have made millions on the markets and you are lucky� they might even tell you in some cases that they themselves have made a ton of money. They will tell you that you are going to be a testimonial for them and the company and that they need you to be a part of their success team in order for them to sell more products. They will be sly and very convincing.
Their goal is to convince you very cunningly that�s it�s ok to invest THOUSANDS of dollars from your credit card to work with a �professional trader� Many of whom really haven�t been in the markets for more than a few months.
Here is how to beat them. If you have invested your money in them CALL YOUR BANK AND GET IT BACK!!
Here is how you can win with the bank. The sales rep will run circles telling you that you signed a contract and that you can�t get it back. They will tell you that they always win these disputes and that you wanted it once and there is no point in fighting it.
What they won�t tell you is this, even if you signed a contract, you are being scammed. The consumer will win the chargeback if you do a few things.
This is how the companies are set up. Let�s say you pay $6,500.00 to company X. Right off the start 20% gets paid out in commissions. (you really think the sales reps aren�t going to say whatever they want for the $1,300 in commissions each gets roughly $650). They will sell as many of these people as they can in one week. They will tell you how busy the �closer� is simply because he is booked with other people like you that he is closing. The first person will tell you that he needs to go check the senior director�s schedule, and in reality he is just finding someone on the floor that can close you down.
Ok, next there is a merchant fee, that normally depends on the merchant some I have seen as low as 1% but most of these floors are fly by night and change their names so often they are a risk to the merchants so they run about 3-5%. Let�s say for this example we run at 2% that is $130 taken off the sale. Now we are down to $5,070 left over. There is what is called a lead fee, which can range again from 15% - 40% of the sale. Industry average is about 35%. That is $2,275 of the initial sale.
The lead generator is the place or company that sold you the initial program. Their marketing looks great and they will tell you all of these great stories of how much money you can make to get you to buy their program. But they are also making money on the back end by selling the name phone number and address to these Call Centers. Most of these things don�t work, they are just lead generators.
Ok, now we are down to $2,795 of your money left. We haven�t even talked about the millionaire that will be coaching you. Let�s say that the package you signed up for bought you into 20 coaching sessions. You would think that simple math would be $325 per session. Even if the coach made � of that $162 per session and did 10 per week, that would be $1,620 per week that this coach would be making off the coaching. HMMMM�…why is a multi millionaire working 10 hours a week to make $1,620??? Out of the kindness of his heart?? I don�t think so. Not for that little of money. Now, imagine if the coaches were to only make $30.00 of that per session at 10 sessions per week. That would only be $300 per week.
I hate to be the bearer of bad news but that�s all they make and they don�t do 10 sessions, many of them are doing 40+ sessions to make ends meet.
Many of these Call Centers sell in the ranges of $50,000 - $150,000 per week in sales volume. These owners are the only ones in the company that are making money. When you see testimonials they are generally of demo accounts. One way to know a real live account from a Demo is look at the time frames, if you see some withdrawals (money taken out and paid to the trader) than it is more likely to be real, the testimonials that you are seeing are normally demo accounts, talk to any real trader or investor and they will be the first to tell you that real trading is %100 different. Of course it�s easy to open a trade on fake money. That would be like me telling you I bought 3 properties today, (I really did, Boardwalk, Park Place and Connecticut Ave) I played Monopoly and made enough money to buy them. You might laugh but that�s the same concept. Wouldn�t it be nice to really buy real estate that easily?
Just be careful, I myself have gotten several calls from these types of companies Stellar Forex Consulting / Precision Fx / The Forex Wire / BDS services / Shanklin Group , and many more are all in this together, it should be illegal. Take a look at their materials you can find ALL of it online. Don’t get taken.
I am only posting this to protect the investors, Babypips.com has everything that you need for your training, books are good to read too, get all of that before you try to find a coach though, save your money and don’t get ripped off. These are not good people.
My my…it’s like you were listening in on the various CONversations that took place!
Thank you for taking the time to enlighten us.
From the point of view of my Stellar Forex Consulting/Precision-Fx experience, I am at least pleased to have been refunded my outlay with relatively minimal stress, although it took some time to get to that final result.
Whether or not the guy that sorted it out in the end for me is seriously intending to address the issues that prompted my demands for a refund, like he said he would, is possibly another story.
From what you say, it’s not likely, as alot of them seem to operate within a culture of corporate slime.
A similar and much more expensive (lesson) situation with a company here in Oz is however becoming quite a nightmare. They were shut down by ‘ASIC’ (our securities authorities), but set up the next day to continue their scam at THE SAME ADDRESS, USING A ‘BORROWED’ FINANCIAL LICENCE!
Unbelievable.
That/those companies are it seems immune to any Federal Laws, as long as they make the appearance of abiding by the demands and pathetic laws the authorities reluctantly enforce. ASIC tell us they have no jurisdiction over them (in spite of having shut them down for some unspoken reason) and can not enforce any money back guarantees, and/or prosecute them, because all this is considered ‘gambling’.
A few of us have now joined forces, and after speaking to the appropriate Government officials, have today sent all of our considerable documentation and evidence to the office of the relative Minister in Federal Government.
IF they see fit to pursue this, we MAY see some results and get our money back, and they MAY be prosecuted.
All this sends out a fairly blatant and obvious message to anyone who maybe considering a life of crime, which is an even more worrying concern to me.
Now that I have spent the time researching this, (and after what you and others have personally shared) I agree, any information needed to begin a personal ‘learning curve’ in the trading world can freely be accessed via the web through great websites like Baby Pips etc, and books.
A major lesson has been learned the very hard way.