Lifestyle Trader

Hi TH,

I don't blame Mountain Woman for not checking the broker statements. Like I said, Lifestyle Trader is scamming beginners, because beginners know very little about trading and they wouldn't know what due diligence is necessary to check out these self proclaimed "Gurus".

I like what Alexander Elder said in his book, the real gurus don't waste time teaching you how to trade. They would rather spend the time in trading and profiting from the market.

Don't be too harsh on the beginners, but let this be a lesson to those who got burned by Rob Wilson.

Investa

Trembling Hand said:

Hi Mountain Woman. That sucks that you have wasted money and time on this scam. At any time did you see REAL results. That is Broker statements or LIVE trades?

Its with great sadness every day to see 10 or more hits to my blog from Google searches for "Aussie rob lifestyle trader scam ".

Still find it hard to believe that such rubbish can be pedaled out without ever supplying anything more than hindsight trades and theoretical executions. I get so many hits I have moved up to second in Google rankings after this thread and third with the scam left out of the search. In spite of Aussie Robs efforts to fill and clean the Google searches with his own crap.

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The reason why Lifestyle Trader can get away with all these is because they know that most people will just "move on".

IMHO, yes you will need to move on, but moving on has nothing to do with whether you further pursue the matter or not. Why can't you go through the CTTT proceedings while you learn to trade? You were once a beginner, you know that for a beginner to make that $7000 from trading ain't easy.

investa

tech/a said:

Tip

Move on.
Go learn how to trade.
Move on you were duped.

With emotion like that shown here you haven't got the temperament to trade.
$7k is a decent trade.

You cant even organise yourselves to bring on a decient class action.
What hope have you got in the big bad world of trading.

Harsh??---reality always is.

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investa said:

The reason why Lifestyle Trader can get away with all these is because they know that most people will just "move on".

IMHO, yes you will need to move on, but moving on has nothing to do with whether you further pursue the matter or not. Why can't you go through the CTTT proceedings while you learn to trade? You were once a beginner, you know that for a beginner to make that $7000 from trading ain't easy.

investa

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Sure was and lost $20k in my first 6 mths after topping the state in technical analysis 101 with the Securities Institute.

8 yrs later I learnt its NOT about the analysis.
Another 3 yrs further on and its NOT about How you trade (Systems,Discretionary etc).
Once you know HOW to trade profitably you KNOW WHAT YOU DONT NEED TO KNOW.

Do whatever it is you need to do--but move on ---youve learnt a $7000 lesson one you'll never forget.
There is only ONE way to make profit and 100s of ways of trading.

investa said:

Hi TH,

I don't blame Mountain Woman for not checking the broker statements. Like I said, Lifestyle Trader is scamming beginners, because beginners know very little about trading

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I wasn't I was just asking a question.

Timmy you have valid points and I support your findings and,
Google please find the following:
Aussie Rob Lifestyle Trader, deceptive and misleading conduct, breach of section 53 Trade Practices Act, unethical conduct, misrepresentation, conduct that is deceptive or misleading or likely to be deceptive or misleading.


Billyboy claimed that the Aussie Robber software is not a "blackbox".
That means the indicator is not proprietary and as such it can be
disclosed. It is the Heiken-Ashi Averages with price bars removed.
Also it's not legally tenable to claim something that is already
public knowledge as being proprietary. So you can see that it's
not legally valid to call it a "blackbox" either because the inference
is that, it is not already public knowledge. He's kind of painted
himself into a corner there, but false claims still abound like,
stating it is not based on averages or is not lagging. Even the
claim of it being based on supply and demand is misleading as any
price bars can be said to be a measure of supply and demand.
Heiken-Ashi is actually Japanese for average bar.
The stoploss used is a 3 x ATR(5).

Here's is the indicator and formula with average price bars shown.
The reason why price bars are not shown on any of their charts is
that, it would easily be detected by a perceptive trader.

Aussie Robber, your secret is out!

Just a few links for those who were wondering how the Aussie Rob Lifestyle Trader saga eventually ended.

Aussie Rob (Robert Wilson) was last seen in Laos in September last year, trying to avoid justice by claiming he couldn't return to Australia to appear in court due to an injured coccyx bone that made it impossible for him to sit or travel: http://www.couriermail.com.au/busin...sbane-court-date/story-fnihsps3-1226715072730

At the same time, evidence from Wilson's Facebook page was presented to the Supreme Court by liquidator Gavin Morton showing him apparently leading an active life.

The following month ASIC banned him from providing financial services and warned the public not to deal with him: https://asic.gov.au/about-asic/news...es/13-282mr-asic-bans-businessman-aussie-rob/

His latest scam is called Connect Private Wealth: http://connectprivatewealth.com

Needless to say that anything connected to this unscrupulous snake oil salesman should be avoided at all costs.