Complaint Review: CFTI TRADING Ward Chambers

I should add in most cases (such as on his Trader Profit Central website) he just uses the alias Paul Chambers. For example his site says: "Paul Chambers is a noted author, speaker, and financial educator with Trader Profit Central Inc. If you have any questions, feel free to contact him at paul@traderprofitcentral.com"

Ward Chambers is still in the game of trying to sell his 'software' and 'training' services.  He has now changed his name to 'Paul Ward Chambers' so as to not show up on google searches for Ward Chambers which are full of complaints. 

His 'new' fly-by-night company is called 'Trader Profit Central' where he pitches things like 'Matrix Flow Trader Software for only $1799.00'!

Anyway, buyer beware.

I worked with CFTI Trading and Ward Chambers for about 2 years, and I was realy surprised to see such a negative posting online. No less than 7 times in each contract did it state that the company was not promising anyone profits. Anyway, CFTI is now closed, so I hope the cruel people who put a very good company out of business are 100% happy.

when is saw the report over Ward Chambers i have to admit that this anonymous person is right because it seems to me that Mr. Chambers i living mainly from teaching not from real trading. And basically my program i made was also a option spread trading program. When you read something on the internet about a person i said to myself at first sight that can,t be a coincidence. And the command of Mr. Chamber solicitor after a rebute tells me a lot there are much money at stake. A trader who is constantly making money in the markets don,t have to chase his prospective clients in webinars and presentations. He also don,t have to apply marketing strategies because he don,t cares because he is making money mainly with trading not teaching.

If you do the math you can see with 1000 pupils Mr. Chambers has made more than 2 million USD at least (or 3,5 millions ?) . To charge more than 2500 USD for a mentorship program he has to offer is far to much. But some people don,t say nothing because they embarrassed to admit that they made a bad investment to learn the basics in trading for such a high price. After 1 year i made my own way in trading, i won,t say that teaching is bad but i my opinion this mentorship program or strategy sessions course is not worth the high price Mr. Chambers charges.

Stefan

CFTI Trading is run by one of the best trading teachers I have ever met. Ward Chambers is a gifted trader and teacher and that will never change. I've been working with Ward for over 4 years and he has always made time to answer every question, take every phone call, and respond to every email I have ever sent. He has never made false promises, and works harder for his clients that anyone I have ever met. I am more than happy to be a reference for Ward at any time he needs me. Keep up the good work Ward. You're the best!

Paul

CFTI Trading is the most advanced trader training avaible today. How do I know? I am Ward Chambers, the founder and I create the material for each course I teach. I have taught well over 1000 people in the last few years, and I can honestly say that the vast majority have been extremly pleased with their results.

There are several claims about my knowledge base, which are completly false. I have had extensive training, been licened as a broker, and managed money over the last 15 years. My knowledge of the inner workings of options is among the strongest in the industry. The discussion we had was because Mr. Ponciano wanted to enter a position which would have guaranteed him a $12,000 loss. Since he refused to accpted to reality of the situation, I had to move forward with my lesson for the benefit of the rest of the class. I made efforts to explain the position later, but Mr. Ponciano was not willing to discuss the mechanics of the trade.

Andreas is from Guatamala and took my program in the spring of 2007. He refused to focus on the work assigned, instead choosing to look for the "quick and easy" route to trading success. Having been involved with these markets for so many years, I can safely tell all traders that there is no fast track to trading success. The truth is that well over 90 of all traders fail. My mission with CFTI is to do my part, and help as many traders as possible reach their trading goals.

I did try to deal with Mr. P---- in a fair way, but he refused to co-operate. I encourage anyone who is serious about their trading to listen to one of my Advanced Strategy Sessions, feel free to contact me and I will gladly send you a link, and give you referrals to people who can give unbiased third party input.

Ward Chambers

I took the course back in late spring/early summer that CFTI offers and I have referred many friends to the program and we have all had amazing success. The concepts CFTI teaches are very different than what other companines teach, and that's a huge reliefe. I've taken at least 7 course and lost a lot of money each time. Ward took the time to give me and my friends a ton of personal attention. I started with 10k and here we are on December 28 2007 and my account is sitting at 27k in just over 6 months! That's cause of the teaching that I got. My friends have all had amazing results as well. I took the class with the guy who made the complaint, and all he did was complain. If you are serious about your trading - you need to talk to Ward and see if he can help you.

My name is David Ellis, and I am acting as solicitor for CFTI Trading. I am responding to the numerous false statements made by an individual who has chosen to remain anonymous. Let me individually address each point raised.

Firstly, this person claims to have posted his report from New York City. In fact, this individual is not a US citizen. He is a citizen of the Central American Nation of Guatemala.

The claimant states that there was little guidance offered in the program. This is a false claim. The program offered by CFTI Trading is in-depth and contains several hours of additional assistance and guidance. Mr. Chambers has stated on numerous occasions that futures markets are complex and require both dedication and time to master. My client, CFTI, has arranged a comprehensive support team for all its clients and has stated on numerous occasions that additional help is always available.

CFTI Trading clearly specifies in its agreement that no guarantees of profitability are made, nor are any refunds offered. Both points were known to this past client who was not pressured into signing any agreements with CFTI Trading.

Although there is a strict no refund policy in place, when this individual requested a refund, 6 weeks after completing the program, the company considered granting the request as a sign of good faith. Several attempts were made to reach a formal settlement with this client, but each one was rejected by the client. Even after the client agreed to accept a refund of 50%, because he acknowledged his failure to study and execute the strategies taught, he continued to refuse to finalize the agreement in writing. CFTI made every effort to operate in good faith, but those efforts were met with little co-operation.

The client's assertion that Mr. Chambers has been trading for 12 years is completely false. It is well-documented that Mr. Chambers started trading in 1992. Mr. Chambers has always been willing to submit tax forms to verify his length of time in the markets and his level of profitability as a trader.

This individual claims to have had arguments with Mr. Chambers. These disagreements were fuelled by the client's inexperience with the futures markets. Mr. Chambers does not instruct clients in destructive trading activities; the disagreement involved the client's wishing to execute a trade with significant risk, which Mr. Chambers opposed (in the best interest of his client).

On the topic of Trader Psychology, the CFTI Program spends 3 - 4 days discussing various psychological barriers and ways traders need to prepare themselves if they intend to maximize their chances of success. The preparation is far more intensive than any public presentation CFTI Trading may deliver.

The client makes a claim that clients of CFTI had one month where the average return was 36%. In commodities markets, it is not uncommon to see exceptional rates of return, followed by a period of sluggish returns. The net returns during the 3 months following the impressive 36% gain were under 2% per month. CFTI Trading makes it very clear that clients should not focus on any specific monthly return, but rather, to focus on consistency in trading and on building accounts annually.

The client also questions whether Matrix Trading, a proprietary approach for finding key levels in a market, is a valid one. The client indicates he did not make an effort to apply or understand the mechanics behind the trading approach.

The five most profitable markets reviewed were the Euro currency, crude oil, US 30-year Treasury bonds, gold, and the Canadian dollar. All of these markets have been trending strongly over the last several years, and indications are they will continue to present opportunities for seasoned, well-educated traders.

In his closing remarks, the client clearly acknowledges the fact that he is fully aware that there are no refunds.

In summary:

This client's credibility is highly questionable. He is not a US citizen; he is a citizen and resident of Guatemala. Why does he feel the need to impersonate a US citizen and say he lives in New York? If he felt that his claims were valid, why did he feel the need to post anonymously? Mr. Chambers' contact information is freely available and he strongly encourages anyone wanting to contact him for clarification to do so.

This client acknowledged he did not make any effort to apply any of the strategies or information presented to him.

Note: There is strong evidence to indicate that this client regularly takes educational programs and then makes accusations in an effort to extort funds from the firms in question. The evidence includes correspondence where this client openly admitted to threatening firms with whom he had dealing with and making efforts to extort funds.

Why did this client wait 6 full weeks after the completion of the CFTI Program before expressing any concerns about the quality of information? He has admitted to Mr. Chambers that he did not execute any trades based on anything in the program he was enrolled in.

As recently as October 9, 2007, this client was trying to extort funds from CFTI Trading and made threats to Mr. Chambers. He knowingly placed this posting on October 4, 2007, as he continued to try to extort funds, knowing he had fabricated these statements.

CFTI Trading has been operating successfuly for several years. In composing this response I spoke with over 50 randomly selected clients, and all of them were pleased with the quality of the education and support provided by CFTI Trading. All said they would gladly recommend CFTI to fellow traders. In short, they all felt the program was excellent and extremely valuable.

If you require any further information, feel free to contact me at the address listed below.

David A. Ellis
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