Bulls On Wall Street

Bulls On Wall Street
  • Honesty
  • Quality
  • Cost
  • Support
  • Verified Trades
  • User Experience

Summary

Owner of company makes outrageous claims that, "Over the last 10 years, I have made millions trading stocks". However, absolutely no proof exists and owner of company refuses to show proof. Owner of company is touting an unregistered broker/dealer operation that is in clear violation of existing US securities laws, and is a clear and imminent target of the SEC. Former insider and sales manager of company (2 years) came forth and told the real story about company, "its nothing more than an educational mill that prey's on the naive and churns out nothing but failed traders".

1
Pros: Excellent marketing
Cons: A day trading education mill that offers a nearly worthless education at $3,000 per student. Owner of company makes incredible claims of making millions of dollars day trading stocks, yet can prove absolutely nothing of this supposed success. Company offering an outrageously illegal "hedge fund" which is nothing more than a unlicensed and unregistered broker dealer. A clear target for regulators and a ticking time bomb. A school for suckers.

Thanks for reading today’s review of BullsOnWallStreet.Com

Bulls On Wall Street is a day trading educational company that was founded in 2009 by Kunal Desai. The company offers two primary trading products. The first is a “boot camp” type educational course at a cost of $2,850. The course is considered a foundational course that teaches the basics of day trading stocks. The second product offering is a broker dealer offering under the name: CliqueFund. What exactly is CliqueFund? CliqueFund is a quasi broker dealer not dissimilar to an ordinary stock broker like TD Ameritrade or Interactive Brokers. CliqueFund accepts client deposits into a personal trading account that is at the majority control of Kunal Desai. These client funds are pooled together into a single trading account. This account is then used to partition out portions of the account to aspiring day traders.

Why is CliqueFund pooling together customer funds? Quite simply, there is regulation in place that specifically prohibits accounts with less than $25k from making more than 4 day trades per week. In addition to restricting the amount of trades that a small account can place during the week, there are also rules in place that severely restrict the amount of leverage that these small account holders can access. The typical amount is 2/1 leverage. BullsOnWallStreet has devised a clever mechanism that specifically circumvents long standing securities laws. Specifically, how do they circumvent? In order to become a part of the BullsOnWallStreet “CliqueFund”, a person must first purchase the $2,850 educational boot camp. Once the person has purchased the boot camp, they are then admitted into CliqueFund. However, once they are admitted, they must immediately deposit an additional amount of $2,500 to $10,000. Once the deposit has been made in Kunal Desai’s trading account, they are then able to day trade with a margin amount of $25,000 to $200,000.

There are other costs associated with being a member of CliqueFund. Each trader is charged $335 per month to be a member. In addition, the trader must pay a commission per trade of .0024 per share of stock. At the end of each month, the trader must also pay Kunal 10% of any earnings from their day trading.

It is important to note that any funds deposited into Kunal’s CliqueFund will not be returned to the depositor, at any time. In other words, if you deposit $2,500 with Kunal, then your account balance immediately begins draining to the tune of $11 per day. If you do not trade, then at the end of the month, the balance will be $2,165. It is also important to note that a person cannot withdraw any funds unless the account balance is above the original deposit amount.

What happens if a person runs the account balance down to $500? The account is closed and Kunal keeps the $500. What happens if a person deposits $5,000 into Kunal’s trading account and then one week later, they encounter an emergency and need their $5,000 returned to them? The money is forfeited to Kunal. Once the deposit money is given to Kunal, then the money is his to do with as he deems.

Can a person continue to deposit more money into Kunal’s trading account? Yes. Kunal describes continued deposits into his trading account as “re-education fee’s”. Kunal will always gladly accept your money into his trading account.

Is this legal?

BullsOnWallStreet likes to describe CliqueFund as a “hedge fund”, however in interviews with T3 Capital, which is a fully licensed and regulated prop trading firm located in the United States, they describe CliqueFund as an outrageous scheme that’s sole purpose is to flagrantly circumvent US securities laws meant to protect investors from outright thievery. T3 Capital describes these types of firms as fly by night operations that are doomed to failure. “Eventually, securities regulators at the SEC will take notice and shut them down”.  T3 describes this situation not as a “IF they will be shut down” but as a “WHEN will they be shut down”.

In my experiences with writing this blog, I have also come across several of these unlicensed prop trading firms that also circumvented US securities laws by pooling together client funds. The results were not pretty for investors at the prop firm known as Nonko. They were accepting trading accounts and simply allowing people to trade only on a trading simulator. Most people never knew they were trading on a simulator until after I published my article the proved that trades were only in SIM mode. Nonko would simply keep their monies without ever placing their trades on an exchange. In the rare instance where a trader would actually make money, Nonko would simply refuse to pay the trader. After publishing my article, Nonko quickly pulled down all of their websites and disappeared. The situation was a real mess for a lot of folks, and a real learning experience for me. This experience also was my first interactions with SEC investigators where I was not the target, instead I was helping them.

One of the SEC investigators that I conversed with is now in private practice and we spoke by telephone about CliqueFund. I asked his opinion and he gave a hilarious response, “This CliqueFund is about as much a hedge fund as an ice cream sandwich”. And, “we have seen these schemes come and go, over and over, it amazes me that people continually get suckered into these schemes”.

The big problem with these unregistered broker dealers like CliqueFund is that once the SEC finally arrives to shut them down, the money simply disappears. Some fine examples would be Lake Street Trading, Broadstreet Trading, Juggernaught Trading, IBWorldwide Trading, Nonko, and Team Trading. All of these firms shut down overnight and all funds went missing. What does an SEC shut down actually look like? You would think that the SEC would show up like thugs and kick doors and flash badges, but this is usually not the case. The SEC simply sends a one page letter that warns the entity to “Cease and Desist” from accepting customer funds and that they need to become registered. The proprietors of these unregistered broker dealers simply close up shop and keep the money. Does the depositor or customer have any recourse? Nope. This is all considered a civil manner and the only path forward for deposit holders is to hire a lawyer and file a lawsuit. Of course, most people do not do this and the scammers move onto the next scam.

Is CliqueFund a scam? In my opinion, it is not a scam. Rather, it is more like a food truck that shows up at the football stadium on game day. The stadium officials (SEC, T3 Capital, etc) that are all abiding by the rules are pissed off because Kunal’s food truck just showed up, and he is selling hot dogs  and beer for only $5. All of the underfunded folks are going to rush to buy the cheap dogs and beer, and of course the stadium officials want to keep folks paying $7 for a hot dog and $14 for a beer. Once the stadium officials find Kunal they tell him to beat it, and he does. Usually very quickly. And this is exactly how CliqueFund is going to disappear, a letter will arrive from the SEC to Kunal and he will simply shut down.

How long before the SEC shuts down CliqueFund? This of course is the million dollar question. Truthfully, nobody really knows when an SEC hit is about to take place. However, the louder and more aggressive the marketing of the unregistered broker dealer, the quicker the SEC moves. There are several of these broker dealer/pooled resources trading operations currently in existence and they have been able to remain intact for several years. Why? Because they stay ridiculously small and do not flagrantly advertise all over the internet. In fact, I have spoken to two separate trading groups that are currently pooling together resources and they were kind enough to give me open access on how these operations are set up. Both firms are very concerned with the size and scope of Kunal Desai’s CliqueFund. A good example would be the local pot dealer that grows a few plants in his back yard, and enjoys the bounty amongst a few friends. This type of activity is not going to bring the authorities. However, Kunal appears to be very aggressively and flamboyant about marketing his unregistered broker dealer. How aggressive and flamboyant? Very. So much so, that three separate trading educational firms are now aggressively pushing the scheme.

CliqueFund: BullsOnWallStreet, Fous Alerts, Lincoln List

Clique Fund is less than one year old. In terms of age, its a baby. However, it is currently being very aggresively marketed by not only BullsOnWallStreet, but also FousAlerts and The Lincoln List. Many of you are probably aware of my review of Fous Alerts. Its no secret that I have a high level of disdain for Cameron Fous of Fous Alerts. You can read all about Cameron Fous in the following review. In a nutshell, Cameron Fous is complete and total fraud that claims he makes millions of dollars each year day trading stocks, however no proof can ever be found or provided. To see Fous Alerts aggressively pushing this is a huge red flag. It is also outrageous that he touts this unregistered broker dealer all over his website and YouTube, which of course garners thousands of eyeballs.

The one thing that all three of these organizations have in common is that each of these organizations require that the trader spend about $3,000 in educational costs in order to be admitted into the CliqueFund. The educational costs serve as an entry fee.

What exactly is happening here?

Many readers might be wondering why I am spending so much time talking about CliqueFund, and not the educational product known as BullsOnWallStreet? Let me explain. The average person that purchases the BullsOnWallStreet, FousAlerts, Lincoln List day trading educational product is typically young, naive about financial products, and extremely underfunded. The typical person that gets caught up in these types of schemes is hoping to turn a few thousands dollars into new career as a full time day trader. These trading educators have tailored their educational products to specifically target this demographic by offering a supposed complete solution to become a full time professional day trader.

The average person that falls for the pitch usually has no more than $5k in cash that they are able to scrape together through savings and credit cards. The primrose path of these educators is to entice the naive person into first spending $3,000 on the educational product, and that this educational product is the exact knowledge that they will need to become a full time day trader. In addition, they offer a live day trading room experience that gives the impression that once a person obtains this wonderful secret day trading knowledge, that they will also be able to shadow trade the guru, and by proxy will be able to copy his success. The final piece of the puzzle is the supposition that a $2,500 deposit into Clique Fund, and the leverage to $25,000 is the capital that they will need to make their day trading dreams come true. Unfortunately, their eyes sparkle brightly towards the big round number of $25,000, but in reality they are only allowed to lose $2,000 of their own money.

The shadowy promise of 10-1 leverage is only a mirage of opportunity. It feels like you are getting a lot of money, but in reality you are only getting the ability to lose your $2,000 of your own money extremely fast. There is no possible way to lose beyond the deposit amount.

In its entirety, you can see the synergistic effect of all three components. The first is the secret day trading knowledge that the victim must acquire for $3k, the next is the live trading room that gives the impression that they can simply copy the guru and achieve success, and the third is the promise of massive leverage over a tiny trading account. All three components work together to create a very compelling fantasy.

What is the fantasy?

One thing that you will notice with BullsOnWallStreet and FousAlerts is that both make some bold and outrageous claims. For instance, in the following snippet that was taken from the BullsOnWallStreet website, notice how Kunal boldly claims that, “Over the last ten years I’ve made millions trading stocks.” Pretty bold claim! However, just try and ask for proof of this amazing trading success. I did. However, after several months of asking for proof, none has arrived and I expect none ever will.

Bulls On Wall Street Review

Another thing that Kunal does is post supposed monthly profits he earned with his day trading. Some of these are borderline outrageous…and if not provable clearly demonstrate fraud. Why? Because all of these results must be accompanied with a disclaimer that states whether they are simulated or real. The lack of disclosures implies that these are real results. Have a look for yourself…all taken from Archive.Org. Notice the lack of disclosure.

Trades for June $32,500.

Trades for August $48,800

These are just two of the quick snippets of the supposed amazing trading abilities of Kunal Desai. I recommend that readers have a look at Archive.Org and browse through his stated results pages. Amazing stuff folks. Month after month he claims $20k, 30k, 40k, 50k, etc. But where is the proof? Is it really too much to ask if any of this is real? Also, I believe most damning is that I could find absolutely zero losing months. By his own marketing magic, he seems to be the worlds most perfect day trader with no losing months. Heck, if I were making all of this money with amazing ease, then why sell my magic to the masses?

Trader Porn

Of course, these amazing trading results are only part of the pornography that Kunal employs that create the fantasy image of his trading success and fantasy lifestyle. A look at the Bulls On Wall Street facebook page reveals Kunal driving around in convertible sports cars and travelling to exotic locations all over the world. All of this imagery is what I like to call “Trader Porn”. These images are meant to convey a sense of freedom, wealth, and fun. The idea behind these images is to convey that all of this wealth is possible through Kunal, and all you need is a lap top computer. You too can travel all over the world and make millions of dollars day trading and living the “baller” lifestyle. Have a look at some of the images…

So what exactly are these images? What do they really mean? In a nutshell, these images are a Red Herring. They are nothing more than clever visual distraction that are meant to divert your Red Herring Distractionattention away from suspicion. All of these images are pure theater, well scripted image candy. Any rational person would look at this Kunal person and ask the following rational questions…Question #1: Does this Kunal guy trade? And to what degree of success or failure? By learning this, we can evaluate whether his teaching is worthy of time and investment. Question #2: How are his students performing inside of the “CliqueFund”? Are they profitable, are people making money? This is another clue as  to whether we should participate. The truth is that I do not really know if Kunal has really made millions of dollars trading, as he claims. He could provide me proof, and the tone and tenor of this review would be quite different. However, he simply refuses to verify his amazing claims of day trading success. So, I am only left with collecting evidence, wherever I can find it. Sometimes evidence pops up in the strangest places.

Conversations with an insider

On the first week of January 2016, I began to receive a string of emails from a random person that said that I really needed to write a review of Bulls On Wall Street. After a few back and forth emails, I was able to establish that the person in question was the former sales manager at Bulls On Wall Street. Apparently, this person (whom prefers to remain anonymous) had quite a story to tell. The following is the email that I received from the insider on January 8th, 2016.

I would prefer everything that I tell you to remain anonymous. Obviously I need a motive for coming to you, right? Basically, it is this.  I used to work for them (Bulls On Wall Street) after being a student of theirs and got left high and dry. Kunal has no regards for his “employees”, much less his students.  I can tell you how the bootcamp works, their costs, how to pay virtually nothing for it, the setup, and who Kunal really is as a person.  I can tell you that he doesn’t have one successful student out there floating around and that Maribeth doesn’t even trade anymore for 2 reasons: she is too busy trying to hustle in students for the bootcamp and chatroom and she can’t trade profitably anymore.

You want to now how profitable Kunal really is trading?  I can fill you in on everything from his fake trades to his so-called screenshare not being real-time.  I also know the ins and outs on Clique and that it is set up illegally, acting as a hedge fund when it should really be setup as a prop firm and that I never saw one profitable trader in that fund.
What is your motive behind all of this?  I can give you tons of details to write probably one of the best reviews you have but I’m just curious.  Also, you have made a name for yourself within the trading community and Bulls was scared of what you would find out if you kept prying. Are you here to just write reviews to help the trading community?  Is there any money for you in it?  Trust me, I’m not looking for anything on you…just want to know how to go about it!

After I received this email, I was quite intrigued and certainly needed to authenticate that the identity of this person before I published or spoke with this person further. My next step was to contact a former subscriber as well as cleverly speak with the current sales manager at BullsOnWallStreet to authenticate that this person was the real deal. After I was able to pin down the identity of the person, I next initiated a telephone call to the former sales manager. What he told me was very interesting.

Telephone call from the insider

On January 9th, 2015 I recorded a telephone call that lasted approximately 30 minutes in length. The person in question described themselves as an employee of nearly 2 years of Kunal Desai. He had recently left the company and needed to talk. My first question was why? And why now? The person described their journey as beginning like any other student, with so much hope of becoming a full time professional day trader. He placed all of his trust and faith in Kunal and truly believed that he was a good person. Eventually, at some point in 2014, Kunal offered him a job selling mentorship packages to the approximately 200 leads that were coming in monthly.

At first, he enjoyed the money. But after awhile it became apparent that nobody was making any money from trading (including the instructors), rather all of the monies were from selling trading mentorship packages to the general public. The sole and entire focus of the organization is to paint this fantasy of how much a person can make, and then ultimitely pitch the $3,000 educational package. The vast majority of these people were total newbies and have no idea what they are getting themselves into. Selling this fantasy was too easy.

Eventually, at some point he began to really question what he was doing. That nagging drumbeat of his conscious began to grow louder and louder. When we are young and just trying to survive, its easy to put aside the goodness that all humans innately carry. We sacrifice it in the name of survival. But as we grow older, we learn that the nagging conscious is warning us of the uglyness that is slowly consuming our soul. This is exactly what happened to this young person. At some point, the money was just not worth it anylonger. How many lies can a person tell, day after day, and continue to function? I certainly know how he feels. I took the ugly path for many years, all in the name of money. Always trying to pile on more money, in hopes that it would fill the growing black hole that was my soul.

For this young person, the final straw that threw him over the edge was when he got to see exactly what Kunal was earning from his supposed amazing day trading abilities…for 2015 he could only verify that Kunal had earned only a very paltry sum from his trading. He was shocked. At that point, he knew it was over. He could no longer sell the lie and live with himself.

Coming clean is painful

The insider that helped me craft this review, it took a tremendous amount of courage for this person to come forward. Some of the readers might be tempted to lash out and say that this person is no better than Kunal Desai. For he did sell the product for nearly two years, and surely a tremendous amount of people got taken in. Some readers might also be thinking that this is just a disgruntled ex employee with an ax to grind. I am sure that there is a small amount of truth at every angle of the argument. However, my message to this person that came clean is very simple…you are a decent human being. You have probably saved countless others from falling into the fantasy trap that Kunal is so adept at constructing. And you probably feel like I might of said too much about what we talked about over the telephone. However, what you said was your truth, and it needed to be told. It took a lot of courage and I am sure that the trading community appreciates what you have done.

Wrapping Things Up

I am sure that there are going to be a tremendous amount of people that are going to feel betrayed by BullsOnWallStreet. And there are also going to be quite a few people that are going to feel that their trading guru, Kenal Desai has been wronged by this review. However, I believe that overall, now that all of the evidence has been weighed and the former sales manager came forth to tell the inside story…the evidence clearly points toward BullsOnWallStreet being yet another scam operation. An operation where the guru himself, which has claimed to make millions of dollars day trading, simply cannot prove his claims of million dollar trading profits. Furthermore, his disdain for existing securities laws, however unpopular gives a sense into his character. For if he is willing to flagrantly circumvent US securities regulations, then he is probably willing to also take advantage of the people that have placed their hopes and dreams in his trading program.

That’s it for today. Thanks for reading this review, it was a long one. And please leave your comments below. Even the haters and trolls will find that their voices will be heard.

 

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78 Comments on "Bulls On Wall Street"

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thedude
Guest
thedude
6 months 12 days ago
Well, time to chime in, I guess. Took the course and traded with Clique and I hope that I can provide a neutral review on the BOWS group. First of all, Kunal is pretty special, but he’s always been very helpful, as well as the entire crew. When ever there was a problem or I had questions, they were very keen on providing instant support. Their strategy is not for every one, it also wasn’t for me. The biggest take away for me was Kunals emphasise on “you most work on the stuff that works for YOU!” In addition, he… Read more »
Arch
Guest
Arch
7 months 14 days ago
Wow… Amazing review. Thank you very much. it was about time that someone expose this con artist, robbing kids money using their dreams and ambitions and then put on YouTube photos wasting their money on trips and luxury. This guys are the SCUM of the earth… You dont see them going for rich money, instead they prey on the naive and the ones with few money. I have unlimited respect for the insider that finally came true and call a spade a spade… I imagine that it was hard for him. Emmet… If you continue with this project, will be… Read more »
Charlie
Guest
Charlie
7 months 10 days ago

There all scams everyone of these pos flakes

Steven
Guest
Steven
6 months 16 days ago
I swore that I was not going to get down in the mud with you over your review, but it is just blatantly unfair. Let’s take a look at it: Honesty: 1 star Quality: 1 Star Cost: 1 Star Support: 1 Star Verified Trades: 1 Star User Experience: 1 Star I am going to lump Honesty and Verified Trades together here as, according to you, you have a source that claims that Kunal and crew are not honest, right? Based on the fact that trades are not verified? In fact your un-named sources for the majority of your claims are… Read more »
Someguy
Guest
Someguy
10 days 9 hours ago

Steve, no offense, but your review sounds a bit crafted, particularly in your address of the sales manager dispute and zero complaint about clique fund. is this a desperate attempt from maribeth? Either that, or you are WAY TOO generous in spirit. You forked over $2500 for The education? Are you making money? “The dude”, your review sounds much more authentic. Thumbs up.

Rob F
Guest
Rob F
6 months 15 days ago

Emmett,

You seem like a cool guy but I have been working with Kunal for a while now and he is pretty cool also and his trades are live. I think in the spirit of being cool you should remove this story. Your call.

jim
Guest
jim
6 months 14 days ago

Kunal can be as cool as he wants too be, and trade live, but he does not show verified results, and no proof of a single successful trading student with verified results, so you tell us should we trust what they are selling us at bulls on wall st? Your call.

Vlad
Guest
7 months 14 days ago

Another great review, kudos. Sometimes it seems to me that trader porn might overtake actual porn in popularity LOL Just from the top of my head you have Tim Sykes, AstroFX, Marcello Arrambide, Anton Kreil, and guys you’ve written about like Cameron Fous.

And when you think that all this would fall apart like a house of cards if only the clients would ask for a verified track-record. Amazing.

sam
Guest
sam
7 months 14 days ago
The same thing over again. Like falling dominoes. Another site with 100+ good reviews on “investimonials”. 200 leads a month? It’s amazing how this industry of webinar education and trading rooms have thrived. It must be the “one percent” envy where so many of us plebes think “learning” to trade the markets can somehow get some of the wealth that is hoarded by the few in the world. Not to mention the lousy world economy and global wage deflation. There should be an “ETF” of tradeable index of how these rooms make money off of education before they get exposed.… Read more »
sam
Guest
sam
7 months 14 days ago

The DTA site has changed! Guess they have been reading the comments here. The background resort pic is now replaced by a classroom. Still plenty of resort pictures and videos around though. This guy was a former member of DTA. His thoughts. https://www.youtube.com/watch?v=4y5CoaZtDy4

Chuck
Guest
Chuck
7 months 14 days ago

Sam,
Your link to investimonials does not work for me and hopefully most of us as they ban IP addresses of anybody giving truthful negative reviews of one of their paid advertisers. Thus all of the positive BS reviews. Timothy Sykes is a Piece of Shit and would sell his mother if it meant another $50 is subscription revenue. Not sure how he and anyone associated with him can live with themselves.

sam
Guest
sam
7 months 14 days ago

I hear you Chuck. I tried Sykes’ WIA course a few years ago and had to pester WIA to get a refund for the worthless newsletter. The “lessons” were lousy as he was laughing with his girlfriend as he was recording. As a visitor on investimonials, it’s annoying to see Kavan’s Ad pop up everytime. One of the trackers on their site is called “commission junction”. Maybe getting to the site through a free WiFi node and blocking tracking cookies will work.

Animazing
Guest
Animazing
7 months 14 days ago

Thank you for al the hard work Emmet. I almost fel for this. I can not believe that there are so much scams out there.

Rob B
Member
Rob B
7 months 14 days ago
I am just amazed how this whole industry is nothing but one big scam with all parts feeding each other. Platforms allowing trading rooms (TR) operators to give webinars without even checking if the TR operator can trade profitably. Brokers not saying anything as they get the commissions from the foolish traders. Sites like Investopedia and worst of all Dean Handley and his bogus reviews and his Trading Titans. All with one purpose in mind to sucker people out of their money. And yet all these people have to do is just one thing that Vlad stated, ask for a… Read more »
Arch
Guest
Arch
7 months 14 days ago
Wow… Amazing review. Thank you very much. it was about time that someone expose this con artist, robbing kids money using their dreams and ambitions and then put on YouTube photos wasting their money on trips and luxury. This guys are the SCUM of the earth… You dont see them going for rich money, instead they prey on the naive and the ones with few money. I have unlimited respect for the insider that finally came true and call a spade a spade… I imagine that it was hard for him. Emmet… If you continue with this project, will be… Read more »
Arch
Guest
Arch
7 months 14 days ago
Wow… Amazing review. Thank you very much. it was about time that someone expose this con artist, robbing kids money using their dreams and ambitions and then put on YouTube photos wasting their money on trips and luxury. This guys are the SCUM of the earth… You dont see them going for rich money, instead they prey on the naive and the ones with few money. I have unlimited respect for the insider that finally came true and call a spade a spade… I imagine that it was hard for him. Emmet… If you continue with this project, i think… Read more »
Rob B
Member
Rob B
7 months 14 days ago
Arch, I am responding due to your comment, “Its really sad to come to this conclusion after all this years of hard work and illusions and wasted dreams of making a honest living by trading.” I hesitant to respond due to all the dilutional day traders that will post how they doubled their account in a month. Of course what they then fail to tell you is after that they blew their account. As a profitable investor, I will tell you it is possible to day trade profitably. First you notice I said investor, because day trading really needs to… Read more »
Arch
Guest
Arch
7 months 14 days ago
Rob B … Thanks for the answer i realy apreciate it but i admit it fells like a touch in a sore point. To sumarize i think that what happens is that in the process we block that good voice in our head telling us “dont go that way… no can do” and your desire to hit that dream is such that your vision turns blur and you believe almost any BS hopping for the best. Regarding your questions .. it hurts to admit i´m trying a 200% return with a 40-50% possible drawdown … meaning 10.000$ for 2.000/2.500$ drawdown… Read more »
Arch
Guest
Arch
7 months 14 days ago

Regarding the investing point… i think i understand and can relate.
Thats why my goal from the beggining was that any Profits/Withdrawals i could take from the market were to put in the “real” economy ,
in real estate investing trying if possible something like 8 or 10 % a year (or even in a family business)…. but i admit that at first my intention was that those daytrading profits i would put it in long-term stock investing (back to the market and risk it again) but not at this point in time!

Rob B
Member
Rob B
7 months 14 days ago
Arch, Gosh I hate to even respond as I see the hate mail from delusional traders already. Let’s walk through this together and see if you can accept reality. First I am sure there will be some delusional person that will post, “yea a 200% return is very reasonable”. And I am double sure some trading room operator or vendor will say that return is reasonable and show you a straight up equity curve and the 100 ticks a day you will make using their methods, just like taking a paycheck. Of course that is fantasy and why 95% of… Read more »
LG
Guest
LG
7 months 14 days ago
Rob, you are back with the old same song and dance once again, the point is, Rob, that you live in a county that allows this behavior and blaming the victim is not going to get us closer to the resolution. People who pay for a product or service expect a product or service, a newbie has no clue what trading entails so they listen to people who they believe will help them for a fee, tuition instead what they get is a fraud man taking their money, times this by thousands and we have a real issue on our… Read more »
Rob B
Member
Rob B
7 months 14 days ago
LG, Really, a good futures/options trader will turn $5k into 6 figures in 12 months while a person who doesn’t know how to trade will blow it up in a fraction of that time. This complete BS is why 95% people are suckered in and loss money. Where is that person LG? Heck Emmett begs these people to show a measly 3 months statement that they can make a dime and they cannot even do that. You ever watch interviews with real investors or traders? Show me any real article on a actual real trader who is doing that and… Read more »
LG
Guest
LG
7 months 13 days ago
I will just say this, you’re the person who is telling people to ask for statements to verify not me, not every trader aspires to open a trading room and hang out with journalist. I belong to a trading group of over 500 people that we set up on meetup, some people are very good (seen them trade). As the saying goes, Just because you can’t do something it does’t mean it can’t be done. There are many forms of trading so once again your GS nonsense is moot, try day/swing trading billions of $ and see if GS will… Read more »
Rob B
Member
Rob B
7 months 13 days ago
LG, You do everything under the sun but show any proof what so ever to back up your statements. I could say you are an alien from Vulcan and it would be as believably as your comments about how these trading buddies of yours are regularly making a 2000% return. I actually showed proof that no hedge fund, mutual fund or known trader can do what you claim is being done on a regular basis by these mysterious trader friends of yours. Heck want more facts here is a link showing the performance of Managed Futures and CTAs. http://www.iasg.com/Managed-Futures/Performance WOW!!!… Read more »
Arch
Guest
Arch
7 months 13 days ago
Rob B… LG has a point there, you do blaim the victim in your posts (but I guess that maybe that girl should know better before going out with that clevage?). Thinking about it more, you are right and i would never be trying to be the underfunded trading student. So i have a new plan that I think you’ll like. What i should do instead is put all i learned and all the experience i gain in a site and ask for a little money and also put this 40 hour week i spend in a new TR i… Read more »
Arch
Guest
Arch
7 months 13 days ago
Rob B… LG has a point there, you do blaim the victim in your posts (but I guess that maybe that girl should know better before going out with that clevage?). Thinking about it more, you are right and i would never be trying to be the underfunded trading student. So i have a new plan that I think you’ll like. What i should do instead is put all i learned and all the experience i gain in a site and ask for a little money and also put this 40 hour week i spend in a new TR i… Read more »
Rob B
Member
Rob B
7 months 12 days ago
Arch, If you are looking for someone to lie and perpetuate the myth of the fantasy return and say, you can trade futures with a $5,000 account, micro scalp CL 20 times a day and make 4 ticks a trade and turn a $5,000 account into a $25,000, $50,000, $100,000 or a $200,000, then you are absolutely right; I AN NOT YOUR GUY and I cannot help you!!!!!! But there are plenty other poster, trading room and vendors out there that will tell you how they can. Of course none of them will ever be able to show you any… Read more »
rtchoke
Guest
rtchoke
7 months 12 days ago
I’ve been trading for 15 years. Here’s what I know. If you think that any market trades all the time in 4 tick increments, then please send me whatever it is you’re smokin, and for Pete’s sake, stop fantasizing that you’ll be rich by Memorial Day. Here’s what I really know: 1. The markets are all about price and structure. If you can trade the structure, you can trade it with an account of any size. It all depends on what time frame you are going to trade. And I also know that most profitable traders look at multiple time… Read more »
Arch
Guest
Arch
7 months 12 days ago
Rob B … thank you from the answers and for trying to help. I was beeing sarcastic of course and i do think a lot like you do (you would be amazed how much). But what i tried you to also understand is that the REALITY of this business is that scrupulous people are making a living an laughing al way to the bank of the people that reach clueless to them for EDUCATION. And this point is very sensible to me because i spend allmost all my life studying and then teaching. This has to stop … and the… Read more »
Felix
Guest
Felix
7 months 12 days ago

Whew…that’s a lot of verbal diarrhea Rob. But you are funny.

Marcello
Guest
7 months 14 days ago
Rob B, Such a bad attitude- Marcello can fix you right up and deliver you to the promised land. Emmet has not reviewed DTA – so by definition WE ARE GREAT! Come on plunk down some cashola and LIVE the lifestyle!!!! What an amazing year Rob! We are really excited for the upcoming pro trader’s seminar this year on Feb 20th and 21st (Sat and Sunday). We are really excited for the upcoming pro trader’s seminar this year on Feb 20th and 21st (Sat and Sunday). We wanted to send you a message to ensure that you could get the… Read more »
Rob B
Member
Rob B
7 months 14 days ago

Marcello,

Wow I see the light. I can learn the FOB trade and be making money hands over fist. Gosh where do I send my money to sign up. But first just for the heck of it can you show some actual brokerage statement live to show all the profits you made last year trading that FOB?

Vlad
Guest
7 months 14 days ago

You’re nothing but an obnoxious scammer, and until Emmett does a comprehensive review on you, I wrote this little piece: http://www.jltrader.com/2016/01/23/the-wandering-scammer-marcello-arambide/

Rob B
Member
Rob B
7 months 13 days ago
Vlad, I had to comment. And it is refreshing to have nice things to say. First you are a brave person to have a website and tell the truth about a trading room. I remember Emmett wrote something like he is constantly getting letters from lawyers, but he owes millions to the Govt. and tells them to get in line. Second, if you have read my posts you know I am one of the harshest critics of the complete BS Trading Rooms and Vendors tell people. I did a quick look at your website and I was impressed. What you… Read more »
Vlad
Guest
7 months 13 days ago

Hi
Thanks for the nice words.
While the focus of my site is on trading and will probably expand into asset management, I really have a bee in the bonnet with charlatans who use a fantasy image of trading to line their pockets.
I’ve read your comments and it seems that we think pretty much the same.

LG
Guest
LG
7 months 14 days ago
Good to see this review Here is a comment from Kunal on Stocktwits he made on Nov 25, 2015. “kunal00 @4real it happens! im gonna lose and im going to lose a lot its part of the process i dont get worked up over 10 cents here or there.” Now, ask yourself if you want to give a person who admits to losing a lot thousands of dollars of your money? I’ve been paying attention to Kunal on Youtube for a while, he is also in cahoots with Sang Lucci aka Anand Sanghvi, a review on this guy will be… Read more »
Newbie trader
Guest
Newbie trader
7 months 14 days ago

I spoke to Marybeth at length before joining Bulls on Wallstreet. She made it very clear to me that the Bootcamp nor chatroom was going to make me a profitable trader. That trading was hard and would require outside work for a long period of time. Seemed fair enough to me and I didn’t not feel “hustled” one bit. Just my input.

lenny
Guest
lenny
7 months 14 days ago

i believe they are all scams, everyone of them , not one “guru” can show a real f’ing acct dom . they hire maribeth to lure in the cattle with her good looks, i love how she always says”sick trade by Kunal” its all unicorns and rainbows, thanks for the review , but as a former chat room member the first day i knew it was a joke

lenny
Guest
lenny
7 months 14 days ago

yes a review of sang lucci would be great

Arch
Guest
Arch
7 months 14 days ago

Yes Newbie trader… I also think that Maribeth is very pretty.
I’ll give them that for sure.

Jp
Guest
Jp
7 months 13 days ago

I thought clique fund was an establishment of haim bodek and Peter zhang? Sang lucci guys as mentioned above

Jon
Guest
Jon
7 months 13 days ago

The Bullshit of wall street definitely deserves credit for one thing……The worst Trade scam name, of all time.

jim
Guest
jim
7 months 13 days ago

Crazy, 31 comments and not a single person has defended the company.. kind of says it all.. every student probably loses everything, no audited results anywhere, shameful

lenny
Guest
lenny
7 months 13 days ago

they “all” are scams if anyone of these rooms were making any serious money why bother selling any of there hype.

Josh
Guest
Josh
7 months 12 days ago
Hey everyone, first let me be clear that I’m not here to backlash on anyone’s perspectives or defend Kunal or Bulls on Wallstreet due to the fact that I took his course last January, but because I feel like I have enough insight being that I have been on the inside doors of their chatroom as well. I have never made a comment on an article online or anything to my recognition, but this one struck home to me as I would consider myself a middleman to this situation and I am here to hopefully give insight to those who… Read more »
Rob B
Member
Rob B
7 months 12 days ago
Josh, I guess I need to reread Emmett’s review but from what I remember it was about the trading education and the pooling of funds to get around the $25K rule and the over the top photos of the luxury lifestyle. I would imagine if the owner were to show proof of their trading profitability, Emmett might do an update. But you and other students could do the same. Some suggestions. You state, “Kunal is open about all of his trades, his wins, losses, and otherwise. He does post his real time entries and exits” I did not see any… Read more »
Anonymous
Guest
Anonymous
7 months 12 days ago

To Josh

“I began trading in March with a $2,500 account and over the course of 3 months trading part time (3-5 days of the week) i grew it to $4,000”

From March to today is 10 months. How is your result in the span of 10 months? And growing 2.5k to 4k in 3 months is nothing to brag about. I made over 120% with only 2 trades in Nov 2014. But Im too embarrassed to tell the rest of the story.

Chuck
Guest
Chuck
7 months 11 days ago

What happened to the Click Fraud site? http://cliquefundlp.com/

Seems to have been down ever since this review was published..

Allen Roberts
Guest
Allen Roberts
7 months 11 days ago

It looks like this is a nice read, http://bit.ly/20r0Bcq

Rob B
Member
Rob B
7 months 11 days ago
I view articles like that will just drive folks to this site so they can see for themselves and unless they are brain dead they can see the truth. Everything mentioned in that article is already known. Anyone reading the GTR thread and go to that room will see everything talked about is true and Dean is part of the scam. There is one thing mentioned I have been curious about so I will ask Emmett, “and he proposed hiring cheap labor in a foreign county to sit and watch trade rooms ….” I know you have some lady from… Read more »
Bobby J.
Guest
Bobby J.
7 months 6 days ago

You can always hire your mother. I’m sure she works cheap and quick.

DavidR
Guest
DavidR
7 months 11 days ago
I’ve never personally taken Kunal’s class or been in his fund. I do get bored watching the markets often enough, so I do wander through some chats rooms out of amusement. In his chat Kunal does say a lot of trades he is in. I suppose he could be simulator trading, I honestly don’t pay that close attention. Reading Rob’s comments, it seems you’ve gotten hurt quite a few times. My past was working literally 8 years on my setups. It took a long time. I tend to over think things sometimes myself. I have seen many daytraders that were… Read more »
Sam
Guest
Sam
7 months 7 days ago
DavidR, Your supposition is correct! On his TR screenshare he does trade on a demo account. You are one of the very very few people I have come across who seems to be a legitimate and genuine day trader and it was refreshing to go through your post. I have been learning day trading for 3 years now and finally reached a point where I am breakeven, but it hasn’t clicked for me yet. I am very passionate about day trading but have been unable to find a real life legitimate day trading mentor. I have learned everything on my… Read more »
DavidR
Guest
DavidR
6 months 17 days ago
1. I honestly don’t think there is a “best” time frame. Everyone works differently. On futures or stocks, I normally use a 2m or a 5m for quicker moves. That doesn’t make them better, it is just what ended up working for me. I tend to use a 15m or 60m chart for options, because I want a solid direction. I go for bigger profits on options and smaller profit targets on futures. Many people need to slow all the way down to the daily. There is no shame in that, and the daily is a good place to trade.… Read more »
Jon
Guest
Jon
6 months 15 days ago

I agree with most of what you say.
The Trade rooms charge people to take there trades because they need the extra income. if they were raking it in why on earth would they want to share there methods for them to be watered down.
I have found a consistent method that works for me and i wouldn’t share it with anyone.

jim
Guest
jim
7 months 9 days ago

Emmett will you be doing a review on thelincolnlist soon? He seems legit but I’m sure he wont give verified results either

Chuck
Guest
Chuck
7 months 9 days ago

Jim,

Then he’s not legit

John
Guest
John
7 months 6 days ago

I don’t get it. Why would anyone use a service that doesn’t provide a track record of every alert? There are very good services out there that are rated really well on this site. K Capital Advisors, B12 and Indicator to name a few. They post everything and are making money in the long term for their members. Just read the reviews.

It blows my mind people actually believe the BS like BOWS offer. Mind blowing.

Majo
Guest
Majo
6 months 29 days ago

I just noticed “trading guru” Kenai is a refference for a tradingsim. Look at the bottom of their homepage. http://tradingsim.com/

Steven
Guest
Steven
6 months 17 days ago
Well… If anyone is interested in a review from someone who has actually taken the course and traded with Clique Fund then this is the one review that should actually matter. When I was first looking at Bulls on Wall Street (BOWS) I searched the web for any negative feedback and I could find nothing. This is the first and only negative review I have seen on the web. This review has bothered me since a friend sent it to me and I feel the record needs to be set straight here. Keep in mind that I am actually a… Read more »
kaveh sun
Guest
kaveh sun
6 months 1 day ago

Thank you. You clear my mind and save me money. I saw their videos on youtube. I was skeptical because they all sound alike (Tim sykes, Kunal, investor underground, Nathan michaud, tim grittani, Goode, etc). They use the get rich quick and easy slogan to fool poeple.

Andy
Guest
Andy
2 months 16 days ago
Sure got guys like Tim Sykes who think they are market genius. Run a hedge fund, lose money over few years and then close down short hedge fund in 2007 right before huge market collapse lol Then after failing as trader all the sudden he is trading teacher making countless millions a year. Got to give guy credit though he is a great marketer. Many others I suspect are same way. IU is legit though. Have known Nathan from investorshub well over decade back. Msg boards were slow getting info out and he had an idea to get a few… Read more »
jim
Guest
jim
5 months 28 days ago

Still no response/proof from Kunal???

jim
Guest
jim
5 months 27 days ago

SMFH!!!!!!!!!!!!! fcking pos scam!!!!!!

Charlie
Guest
Charlie
9 days 4 hours ago
I think a good general rule of thumb is to avoid paid chats unless they can prove profitability whether its a P&L statement or otherwise. Twitter, Profitly, chats, or any of the like doesn’t count. These guys, no matter how nice, are business men. The recipe: Build you subscriber base by eliciting emotional appeal (good life), Sell products and Subscriptions, rinse and repeat. They don’t make money trading, period. I would argue that some of them probably never did. What they do is teetering inside an ethical grey zone, but to be fair, they did identify an untapped market in… Read more »
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