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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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
don’t join Traders international, I’m a member and I’m leaving them, lost $30,000 trying to become “a better trader”
I’ve watched several of the webinars put on by Traders International, where Afshin explains the program and performs some live trades. So far, every time I’ve watched, he’s hit or even exceeded his points goal, in spite of the occasional stop-outs. Then they take us into the live trading room where existing members can post their comments and results. I’ve seen members post anything from losses and break-evens to some low, as well as relatively high gains. It appears legitimate and possible. I’ve also been considering joining, but would first like to hear from people who have actual experience with TI, or with other comparable training programs. Like Newbie asked above, where did the system break down for you? Is there another program you would sooner recommend?
Thank you!
This guy Franz Shoar with real name of Farzan Shoar Vahdat, is now reaching out in massive scale to persian communities worldwide through multiple Free to air Sattelite Tv channels.
He is promoting riches , claiming $1000/day for every$20,000 trading capital as goal.
Feel sorry for the persian community with all these commercial Free to air channels promoting him for their own gain and at the cost of many to lose their money, and even more lose their hope.
He claimes or puports on air that CFTC and SEC are monitoring his posted results, and have already audited him and found no wrong. ( What a Bull!!!!)
Wish someone familiar with his tricks can expose this guy to proper authorities, to stop misrepresantation to innocent public.
newme123, thanks for the heads up. if you have detailed info, like date, channel, etc. you can tell the CFTC about it and they will take action. You can even do so anonymously.
could anyone help me with learning the “Real Thing” that Franz claiming that doing!!
his fee is 7k to have anyone to watch over his sholder for 7-months…!!
and his Live Broadcast is online once in a while on bullseyetraders.com !!
and has anyone who is trading as PRO, would be willing to examine his live demo online — and see if he really is making money — he claims in a Live demo!! … is it actually true or just BS !! ? his online demo is on bullseyetraders.com … and one could sign up for it
please email me the results … i’d really be appriciated !
thank you
it is BS, there are no shortcuts or magic bullets - just saved you $7000 (you’re welcome)
I agree totally with Babak.
This guy has very bad reputation.
He acts like a con and do not reveal any informatin up front, other than all the bs and sales talk.
Save your $7k.
Think about it. If this guy is so succesfull, why is he working so hard promoting himself, rather than trading .
He does not make money from trading , I am sure. He makes his money looking for the naive and inexperienced or desperate individuals looking every where to enahnce their financial life.
Hi Babak, thaks so much…
just have some temptation about what Franz promoting about the 7K cost for his Training Session — says that he has a Software to guide you doing the Trading on Mini S&P (buying/selling) — says: the software analysis/monitors all that… and then would suggest for the best time to do the trade and get out of it too for the most right moment!!
how true this could be ?
could you refffer me to some other services, that i could sign up and start… ! ?
thanks again
Not real. If the software is so good $7k is tto cheap. But reality is different. Even a $1 is too much for a crap he is promoting
He could also use a service like collective2, proving performance and charge money based on the trades. I think you have the wrong approach because you’re looking for a free ride, “some other service” which you could sign up for - no free lunches.
As someone who took the TI course about 4 years ago I have witnessed its development since with some interest. I did have trouble with its basic strategies working successfully at that time. and I can understand the frustration of somtraderswho may have lost money. However, when I obtained the updated version of the course about 3 months ago (all members are entitled to updated versions free), I noted there had been some substantial changes made although the core elements had remained intact. More recently, there have been new signals introduced by one of the moderatrs of the 24/5 trading room, Rich, which are showing very good results at least in this early stage. After trying it in sim for 2 months and recently gone live I am pleased with the results.I do recommend all traders read Mark Douglas’s books on the psychology of trading, but as for a system offering a realistic edge, yes, I think TI can deliver that. (Rich, the insructor-moderator of the 24/5 room is an excellent mentor - the antithesis of the likes of Franz Shoar.)
I am sorry, but you sound like an employee or someone they paid to make this comment about TI.
Let me ask you this, You pay about 6K to Ti and you withness their rooms , some are in green and some in red trading.
If you pay 6k for a course or training and you will have to stay dependent on them and keep paying $250 per month indefinetly, how good is that training?
Yes, I agree that my comment sounded like a paid shill, but, no, I have never been employed by TI nor had any relationship with them whatsoever except being a student who took their course after visiting their booth at an investment conference here in Toronto a few years ago. At the time I had had about 18 years trading futures experience on a very parttime basis. I was quite familiar with technical and candlestick analysis, but had wiped out my account more than a couple of times and was looking for a more systematic way to trade. When I saw what TI was doing - ie daytrading using a strategy based around divergence i t caught my interest as I had experimented with divergence myself in my position trading.
Anyways, like I said, I cannot say that I had consistent success using their mehods from that time, but I also admit to making several stupid emotional trades that were well outside of their teachings. One of those errors took place when I was trading the Euro futures at about 6 months ago and for a few minutes did not have a stop in place at a time when the market is usually dead quiet (10pm). The market suddenly crashed (owing to some oil disruption in the middle East it turns out) and again I wiped out.!After reading Market Wizards at least I see I’m not alone making bonehead plays like that.)
But what I had learned was that a few of the higher probability signals that TI had taught were working at about 60-65% but the basic simple signal was little better than 50%. I was curious if the course had changed since I had taken it and so I contacted head office. The president told me there had been many changes and sent me out the new version. The basic divergence philosophy was still there but there were many refinements. I began testing it out in sim and also changed my platform to Ninja because I had all sorts of problems with my previous platform.
One of the biggest changes was the availability of the 2 trading rooms. Now, here’s the thing. After being in both rooms for several days I can tell you that in my opinion the 24/5 room will help you implement the course teachings. The moderator , Rich, is an excellent mentor. I believe new students who take the course receive 2 or 3 months free in the rooms, and after that it’s $250/mo. But the intention is to make us independent traders, not to have to rely on the moderators at all eventually. However, I also have to say that the other room - the Pro Room - has a different moderator who makes his calls using his own background in TA and not necessarily using TI course material. Myself, I prefer the 24/5 room, but to each his own. (There’s also 2 overnight moderators based in Australia who also adhere strictly to the TI methodology.)
I do not personally care for like the heavy promos that TI puts out but I can say that the signal results are accurate at least for the 24/5 room because I am in that room and have my own record in my trade journal. Can’t speak for the Pro room as not present usually there. Also, note that the Pro room’s results are a result of trading 3 contracts (that moderator’s particular strategy) as opposed to the 24/5 room which is per contract.
Sorry for the length. but when I came across this link a few days ago I just felt TI was getting a bad rap. Things change. Keep an open mind. Hope this helps and good luck with whatever path you choose.
Spartacus,
Thank you for your description. I am in Toronto as well, and I heard about Bulls Eye Traders on TV. Can you please tell me how much exactly the training costs and whether you really need to continue joining the rooms and pay the $250/month, or whether you can make good profit using what you learned? Also, if you don’t mind, please explain how much you started investing and how the result has been using the TI methods. Anything you could share would be greatly appreciated.