Time for my 2 pips worth (see what i did there?)
I joined FTFfx at the same time as a lot of these guys and like many others i was sucked in by the promise of 100% win rate due to no SL’s. Due to my naivety within the forex market, and seeing the videos of ‘proof’, i jumped on board, and like a number of people just starting out, though Loz was some kind of Forex God.
I ignored the fact Loz was short and rude to a lot of people within the group when questions were asked, i ignored the racism to start of with. I was blinkered because the strats seemed perfect and i hadn’t lost…yet.
After a few months, things began to slip. no SL’s were a nightmare as, yes, your win rate was technically 100 percent, but the drawdown on the trades you still had open was insane. I know people who are in drawdown for trades they made before christmas STILL.
Then, i couldn’t ignore the way people were spoken to. If a question was asked, he didn’t answer. The stock response was ‘search through the group guys’. Not very helpful for something paying 40 quid a month for MENTORSHIP (later going up to 80 quid) He bad-mouthed ANYONE that had a different opinion on him. Whether that be people that had so-called screwed him over in the past, or websites (babypips was ripped apart on a few occasion), or strategies that had been ‘stolen’ off him. Everyone was wrong and Loz was right.
Again, because i was still blinkered, i agreed, even though i had no idea who these people were, and what had happened. But Loo’s word was gospel to me.
Then posts and comments were made about Tommy Robinson, Britain First and the like, in particular in support of them. This is where we clashed. I, like an overwhelming majority or my country, are vehemently opposed to what Robinson and the party believe in. I couldn’t hold my tongue and so laid into Loz’s opinions. Instead of getting out, stupidly, i put a line under it, and carried on.
Then there was the bragging. Of what he had done, what he had accomplished.
Constantly saying things about being a karate expert, and then in a different breath saying he had spina bifida. Now it seems far fetched that someone with that affliction could handle themselves in any kind of fight, but he would still go on about how he wanted to knock on peoples doors with knuckle dusters and the like. Just strange statements, which again, i accepted as part of his character.
Then there was the promises that weren’t backed up. Whether it was a group target to go to asia, all helping each other with set ups to gather x amount of pips a week, or it was something he was working on that was going to launch on a particular date, that just disappeared, or the so-called 100k room, that is literally like a barren wasteland, with no messages in it for weeks.
Then Loz went AWOL.
For nearly a week, we BARELY heard from him. we were supposed to have a webinar which didn’t happen, and no one heard from him for nearly a week. When he came back, he could’ve just apologised and moved on. instead EVERYONE else was wrong, he had only been away for 2 days, and it wasn’t a big deal. To me it was a big deal.
I was paying 40 odd quid a month for mentorship from someone who supposedly had years experience in the forex field. I was starting to get disgruntled and i wasn’t the only one.
In the end, a number of us left. I think close to 40 in the end. We all still keep in touch and talk every day, and we all went through the same thing.
I can vouch what Benlay is saying a million percent because i was talking to him every day about it, and have seen ALL the conversations. AS WE ALL HAVE LOZ. 40 of us.
When Ben told me and showed me what happened, that was the last straw for me. To me, what loz did isn’t only a bad example of a mentor, but a bloody bad example of a trader. 12.0 lots when i think ben had like 1200 left in his account???
Loz went on at us every day about MM and keeping lot sizes in line with your account size, and then he does completely the opposite.
I also saw ALL the conversations with Ben about Loz’s own situation. Painting a picture that he isn’t anywhere near as successful as he painted out to be. He had previously claimed that he lost millions and millions before the last crash. I call bull on that.
I agree with Alex in that i believe the reason Loz suggests 2 pips a time is to squeeze more commission out of his students. Funny thing was, my IC account was never affiliated with Loz!
ANYBODY WHO IS CURRENTLY IN THE FTMFX FREE OR PAID GROUP THAT READS THESE MESSAGES, PLEASE DON’T WASTE YOUR MONEY. If you want to message any of us about this, we would be happy to speak to you. We are now all infinitely happier and enjoying our forex journey, together. We have all the tools needed to learn, FOR FREE.
If you scroll back a year in the FTMFX groups, barely ANYBODY from that period is still there. maybe 3 or 4? His group works in a cycle. People realise he isn’t all he cracks up to be and leaves, and they are replaced by more people who have been fed the lies and bravado and been sucked in. Like i was, and many others before me.
In short, I think Loz has a gamblers attitude with trading. His analysis, when he bothers with it, isn’t bad. But he VERY RARELY BOTHERS WITH IT. I honestly think he needs to get medical help for his issues. A few months ago, i would’ve wished him all the best. But after how he has acted, with Ben and others, he gets no best wishes from me. He needs to be bloody stopped.