Thanks for reading today’s review of Bill’s Room Trading
Bill’s Room Trading is a daily trading instructional firm that works from inside the Online Trader Central household of live trading rooms. Online Trader Central owns and works Hotcomm applications, which is mostly a display sharing software which permits a individual to exhibit their personal computer background with audiences on the net. Online Trader Central is a promotion firm. According to Kevin Driscoll of Online Trader Central, he doesn’t veterinarian, nor does he perform any kind of background checks to authenticate if a trading seller is valid or running a fraudulent trading strategy.
Through time, we’ve seen just about every possible fraudulent trading strategy being marketed by Kevin Driscoll of Online Trader Central. It seems that the sole barrier to be encouraged by Kevin is if the seller can think of the advertising fee. Once a individual has paid Kevin the advertising commission, then Kevin starts devoting thousands and thousands of email addresses in hopes of enticing audiences to register to the seller’s sales presentation.
In total, Mr Kevin Driscoll has sold 76 of those promoted contributors to Dr. Bill McDowell. I’d guess that Bill McDowell has invested a minimum of $35,000 in advertising commission’s to Online Trader Central. Evidently, this is significant amount to invest in advertisements. Normally, it seems that Bill McDowell conducts among these trading promotions every month.
What is Bill McDowell selling?
Bill McDowell has several educational products that begin with an initial price tag of $3,000 for the Basic Course which includes 8 months of mentoring. Next there is the advance course which costs an additional $1,500 and extends the mentoring to one year. Finally, there is the post one year continuation mentoring that can be purchased for an additional $1,000. However, in watching the sales presentation, it appears that the main thrust is to sell a life time subscription at $5,000 per person.
There is zero live trading room. At least in the sense that what most of us are accustomed too. There is only screen sharing post market hours with various assigned mentors that Bill assigns to each person, after the purchase has been made. Each of these assigned mentors are what Bill likes to term “Master Traders” that have all completed Bill’s courses and are now highly profitable traders.
The sales presentation
The Online Trader Central webinar that Bill conducts each month lasts approximately 70 to 90 minutes in length. In total, I have viewed four separate presentations and was amused at the congruity and sameness of each sales presentation. Bill has made this exact same sales pitch quite a lot, and it shows. So what exactly is contained within the sales pitch? For the vast majority of the time that Bill is making his presentation, it is remarkable how very little time is spent talking about actual trading. Instead, the pitch is primarily focused on how many “Master Traders” that Bill has supposedly produced over the past 10 years of training traders. In fact, in Bills marketing materials as well as his recorded webinars, he boldly proclaims:
If you are having more than one losing day a month, then you should not be trading, you should be learning my methods. In fact, my master trader students are currently experiencing no draw downs, and no losing days. With my methods, you can trade any market without draw downs and no losing days.
Obviously this is a bold proclamation. To offer a trading product that essentially guarantee’s these types of amazing results needed to verified.
Speaking directly with Bill McDowell
For the last two months, I have made several attempts to verify the veracity of Mr. McDowell’s claims. Using several different alias’s and using different email address’s, I contacted Bill and simply asked if he could provide me with some sort of documentation regarding his own personal trading. Bill responded by emailing me the following document:
If take a look at this document, please notice that this trading log is for only a single day of trading. There appears to be a grand total of about 142 trades that were executed for the day. This log describes the trades covering the TF (Russell 2000), and the 6E (Euro). Please notice that at the top of this spreadsheet, Bill proclaims “Every valid trade is listed that could (not should) have been taken”. What exactly is Bill saying here? Did he take these trades? Did he take some of these trades and not others? Does he have any sort of proof in the form of account statements that verifies this impressive list of winning trades? And so, I began a campaign of emailing to Bill in hopes that he would divulge account statements or provide more transparency on his actual performance.
After a day or two of emailing Bill, using different alias’s, he would give the same response, “I will not verify my own trading results, nor will I share any account statements”. I asked him plainly, then how can a person verify the legitimacy of these results? At that point, he simply ignored me. It appears that once you cross the threshold into the realm of verification and provability, he quickly removes himself.
Also, I think that it is important to note that he is only sharing one day’s worth of trading results. To summarize, he wants prospective students to purchase his several thousand dollar, day trading educational course on this flimsy little spreadsheet? And he refuses to show even a redacted account statement? Amazing stuff folks. And 142 trades in a single day? This is nearly $600 in commissions paid. And a new trade executed every 2.96 minutes of the trading day. Seriously?!
Speak with the students
The more I attempted to press Bill into publishing verifiable accounts statements, the more he attempted to push the conversation of verification onto the court of his supposed Master Students. Let’s take a moment and talk about what Bill McDowell presents during his webinar, as performance and proof of his supposed Master Students.
Student A: Two consecutive years of trading and not a single losing day. Verifiable 6 figure trader that is currently winning at 93%. A profit factor of 20 to 1 over thousands of trades.
Student B: 3 year master trader. Over 6 figures in verifiable annual earnings.
Student C: 1.5 year master trader that is left his old job and now earns over 6 figures.
Student D: 7 year master trader. No losing days in the past 4 years. Over 6 figures every year.
To the newbie reading this, admittedly this looks very exciting. During the roughly 90 minute sales presentation, Bill spends the majority of the time talking about each of these master traders that he has personally mentored and taken to the promised land of easy day trading profits. Of course, traders A-D is only small sampling of the supposed traders that are now earning over 6 figures trading Bill’s methods. On any typical webinar presentation, he rolls through a list of at least 9 supposed master traders earning big bucks day trading.
Seeking proof from Bill’s students
Bill assigns each of his master students different initials. There is DM and TP, and DR and KP, and LY, and you get the point. And Bill is more than willing to let you email these students and speak with them directly about their own personal trading results and overall experiences with Bill.
Over the past several months, I made great attempts at getting these supposed students to release account statements that verified year after year of amazing trading results…with no losing days, and no draw downs. Since everything is done via email or over chat, I had no idea whether any of these students were actual people, or just avatars created by Bill. Imaginary straw people, or paid shills that will say or do anything to coax a person into spending several thousand dollars. Lets be clear, I am not stating in fact that Bill is using imaginary people to verify the authenticity of his trading methods. However, I found it strange and disconcerting that Mr. McDowell will not show any verifiable trading results, nor will any of his supposed master students.
Perhaps these are in fact real students. Did Bill verify that these students are telling the truth? Did Bill ask that his students submit a redacted account statement that verifies the legitimacy of his claims of “NO losing days, and No draw downs”? It only seems appropriate that if Bill McDowell is going to parade these supposed amazing results of his students, that these results should be verifiable. Unfortunately, neither Bill nor his students are will to share even a single morsel of evidence.
In my opinion, the willful inadmission of verifiable trading results is a highly dishonest marketing tactic. Some could make the argument that proclaiming amazing financial success and verifiable trading results, coupled with the inability or unwillingness to proffer documents of proof is the hallmark of a very dishonest person. Is Bill McDowell a dishonest person? Ultimately, the reader must make up his own mind. However, in my own personal opinion, there is absolutely no way that I would send Bill McDowell even one dollar….unless he can prove the either he, or his students are trading with some degree of success.
When Bill McDowell makes the bold proclamation this his students have no draw downs, and no losing days trading with this methods, then the burden of proof should be squarely placed upon his shoulders. I don’t know about you, but when something sounds too good to be true…well you know the rest.
Wrapping Things Up
In my opinion, and without calling Mr. Bill McDowell yet another fraudulent trading vendor, I hold out hope that Mr McDowell will contact me at his earliest convenience. I would be more than happy to write him a new review. But the new review needs to based upon facts and evidence. Not promises and hollow decrees.
I also wanted to make note that part of the research for this review was based upon the work of Dr. Dean Handley, whom actually beat me to this review and posted his own review of Bill’s room over a year ago.
Well, that’s it for today. And thanks for taking the time to read this review. Please do not forget to leave your comments below.