Update on Franz Shoar: Heeee’s Baaaack!
Published March 22nd, 2007 in Internet, Trading Tags: elitetrader, franz shoar, market wizards, traders international.
I wrote about the sad saga of Franz Shoar and Traders International a while back. Now I notice that Franz is up to his old tricks again. This time with his own firm, “Bullseye Traders”.
Oddly enough, if you go to the mainpage you get an “Under Construction” sign now. But if you happen to go directly to a sub-page, like About Us you have access to the whole site. Make sure to turn off/down your volume though since there is very annoying music on each page.
The site conveniently doesn’t mention the whole mess that Franz got into over at Traders International last year. Instead there is turgid verbiage on how Franz is the greatest trader ever (roll eyes). I suppose a sucker is born every minute. Hopefully a few of them will read this before forking money over to guys like Franz.
I’ve been there so I can understand the yearning newbies have for a short-cut. I can understand how seductive it is when someone dangles an instant gratification carrot in front of you. But for Pete’s sake! With the advent of the internet, you don’t really have an excuse for being bamboozled. Believe it or not, there are actually good vendors out there. But they are few and far between. Before you buy any trading service or buy into any ‘guru’ do your homework. Get on a trading board like EliteTrader and find out what others think. Get feedback. Find people who have gone before you. Learn from their experience.
Always remember that there is no substitute for hard work in life. If you’re truly interested in trading, go read the Market Wizard series by Schwagger. That will both inspire you and make you understand that there are a thousand paths to success and each one of them was found through independent thought and perseverance. None got there by taking a short cut.
elitetrader, franz shoar, market wizards, traders international
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6 Responses to “Update on Franz Shoar: Heeee’s Baaaack!”
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there are actually good vendors out there
like?……….
Vadym Graifer (reality trader), Tony Oz, Bo Yoder, Brandon Fredrickson (I think he’s running money now full time), and there a few traders, not vendors on elitetrader who you can ask for guidance (rearden metal, for example).
Roger Felton?
I personally don’t know anything about Felton so I can’t say.
This Franz guy is such a fraud! Thank you for outing him. TI are still going strong - they are now touting their wares in Australia where they currently have no one pursuing them for their sales tactics.
I unfortunately became a member and can tell you that their strategy DOES NOT work, despite Peter Elsworth (one of the main dodgy characters aside from Ashfin) making all sorts of claims. “5% per day” and so forth.
How do have they gotten away with this conduct for so long?
Trader,
I was thinking of joining TI but am interested in hearing more about your experience. On their information days, they take you through their live trading rooms and the proportion of wins/loses on their site (archived trades) seems legit. So where did it all fall down exactly? Would really appreciate your comments!
thanks