- Report: #1233882
Complaint Review: Equity Management Academy http://ema2trade.com/ James Patrick Montesdeoca - Westlake Village, California
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Author Not Confirmed
Why?
Equity Management Academy http://ema2trade.com/ James Patrick Montesdeoca
5655 LINDERO CANYON RD Westlake Village,, California, USA
Phone:
877-733-1511
Web:
http://ema2trade.com/
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Equity Management Academy http://ema2trade.com/ James Patrick Montesdeoca Equity Management Academyhttp://ema2trade.com/The VC Code the sales pitch given to me is not a accurate representation of what can be achieved with less than 25,000 dollars, Refuse to refund tuition after noted misrepresentation in sales pitch Westlake Village, California
*REBUTTAL Owner of company: Mr. Jon C "Deacon"
*Author of original report: let's see how Mr. Montedueca 's rebuttal* holds up to what is mentioned in the original Rip-Off Report on his sales practices and student enrollment criteria?
*REBUTTAL Owner of company: TESTIMONIALS
*REBUTTAL Owner of company: TESTIMONIAL
*REBUTTAL Owner of company: TESTIMONIAL
Report Attachments
Equity Management Academy
http://ema2trade.com/
The VC Code
"Wealth Creation through Education"
James Patrick Montesdeoca
28030 Dorothy Dr # 200A, Agoura Hills, CA
5655 LINDERO CANYON RD,Westlake Village, California
McTs Trading Corp.
877-733-1511 US Toll Free
805-418-1744 Direct
http://ema2trade.com/
The VC Code
"Wealth Creation through Education"
James Patrick Montesdeoca
28030 Dorothy Dr # 200A, Agoura Hills, CA
5655 LINDERO CANYON RD,Westlake Village, California
McTs Trading Corp.
877-733-1511 US Toll Free
805-418-1744 Direct
I enrolled in the "academy" in May of 2015 . I did so through speaking with Patrick over the phone many times, in this conversation its sounded very good choice however I did ask a question that concerned me and beyond the cost of the tuition of 3 months which included coaching which was the package proposed to me is "how much money do i need to trade in his room?" I was very specific in this, Patrick told me that: "The VC code was adaptable to almost any size of account capitalization"
I then suggested "10,000 dollars as a capitalization" and Mr Montesdeoca "assured me it was more than enough " and further told me " He would guide and coach me and not to worry he would help me through the process"
All began well enough but i soon learned that the results seen on the website at www.ema2trade.com are a result of much higher capitalization.
In order to actually day trade ETFs as are being doing quite often one needs a capitalization of at minimum $25,000 at all times, this is due to the Finra http://www.finra.org/investors/day-trading-margin-requirements-know-rules requires 25,000 dollars capital to day trade ETFs on an ongoing basis as indicated in the classroom, to suggest that using less capital than this is not correct and not permitted anywhere on an ongoing basis
Patrick contends that the VC code is in fact adaptable however it is very unclear to how to do so, one is parleyed into a trading room where trades are called out very clearly however to which is for your particular level of capital is not so clear and when it is clear later on it changes.
Finally swing trades (trades that lasted more than one day) were what was proposed for my account size, in so doing often exhibited periods of very high draw down in which positions held would go to high levels against you.
Taking losses was a gray area, in fact Patrick told me the reason I initially lost money was because i used a open safety stop loss GTC which (to paraphrase Patrick) "is often what trading specialists would go after these open stop losses " as reported by Patrick.
His stop loss orders are given on a market on close (MOC) basis only allowing markets to move strongly against you during the day and or night
Make no mistake, with proper capitalization in excess of $25,000 dollars one can replicate much of Mr Montesdeoca's trades and this could be a great opportunity
However I was told that 10,000 dollars was enough.
This being the case I asked for a partial refund because the sales pitch given to me was not entirely truthful, all i asked is for the final 2 months of tuition which is unused to be refunded to me .
I asked this solely because I do not have the 25,000 dollars to invest in this , if i had known before paying the tuition the required capitalization i would have not enrolled.
At this time Mr Montesdeoca is refusing the refund.
I pray this is helpful to whoever reads it as the sales pitch given to me is not a accurate representation of what can be achieved and was solely in my opinion to "get the sale" without concern to the student.
5 Updates & Rebuttals
James
Alabama,United States
TESTIMONIAL
#2REBUTTAL Owner of company
Fri, February 16, 2018
In the short period of time I have been working with Patrick and Marc, I have been amazed by the performance, customer service, and feeling of control over the markets I have experienced. I have made over $12,000 as a result of their instruction in my first week. But more importantly, I have done it with limited risk. Patrick has 30 years of experience and it shows. He is able to help you stay away from the “bull in the China shop” mentality, and think about your trading as a business. He not only has made me significant amounts of money in a short period, but I truly feel that he treats my funds as if they represented his own. As a result of working with Patrick, I am becoming a better trader, gained a mentor and a friend, and I am watching my portfolio and self confidence in the markets grow. I plan on staying with him for the long haul and I can’t thank you enough!
Braden Barr, CA
James
United StatesTESTIMONIAL
#3REBUTTAL Owner of company
Fri, February 16, 2018
I have used the services of the “Equity Management Academy” for the last three years in trading in the gold, silver and energy markets. The training materials have been very useful especially the trading room with charts. As a retired medical engineer I can identify with the daily and monthly buy and sell limits. The “mean” v2 information really works! Patrick MontesDeOca has provided needed consultative services “on demand”. The e-mail and texting services are timely and have produced good results; January and February profits near $20,000.
Don Hill
James
Alabama,United States
TESTIMONIALS
#4REBUTTAL Owner of company
Fri, February 16, 2018
Testimonials for Equity Management Academy,
WOW! I am very impressed. Within one week the profits, even considering my blunders, have been greater than the cost of working one on one with Patrick for the next three months. That’s right, the cost of the next three months of one on one coaching and teaching was covered, actually four days in to it be exact! I am floored. Just what he taught me and explained this week TOTALLY changed the entire way I comprehend the market. A week ago at a time I might have sold or panicked, I now see the exact opposite, its more than likely time to hold on if not buy more. I understand Patrick, sometimes he seems frustrated with things I say but its clear its only because he wants me to succeed. I know this is the first week but I can tell by the end of this 3 month education I will be trading closer to the level of someone with 30+yrs experience rather than the year of experience I actually have.
If you are thinking about becoming a member, all I can say is DO IT! I am not s*****g you, this is no nonsense. The automated strategies are in the money. The trades I have taken on my own from his coaching all made money. I looked at his testimonials and thought there is a chance that these are made up. There are so many scams on the internet. There are trade rooms all over the internet loosing money but they are all run by “experts”. Expert con men are more common than not. I have lost money with numerous other programs. I decided less than a year ago I was going to learn as much as I could. I told myself I wanted to obtain the knowledge most people could acquire in five years in one! That has been the plan. No kidding, I listen to trading tutorial videos when I drive, I fall asleep listening and learning after I spend all night trying to stay awake learning, reading, researching, back testing and studying charts, trades and strategies. It has become an obsession.
I even put a 32 inch monitor on the end table in my family room so I can watch the charts while I might catch a moment of entertainment with my wife. Watching a movie once every other week or so is time to glance or stare at the charts flowing on the S&P 500. I like tic charts. In my opinion the 987 tic is like the pulse of the market. I spend every waking moment thinking about trading. I am consuming trading all the time in one way or another. I came across ema2trade and took a chance once again. BOOM, I discovered trading on steroids! I was determined to gain five years of knowledge in one year. It has happened for sure at this point. I put it out there in the universe. I need five years of knowledge. I spoke it, I believed it, and it manifested. The law of attraction worked once again. This past week it all came together. The five years of knowledge has clearly been obtained.
In one week, in a total of about five hours of talking to Patrick I surpassed the five years of knowledge I wanted to obtain. Patrick is awesome. I recall a bad trade I bailed on a few weeks ago and I took a beating of $7000. Had I known what I know now I am sure that would have been an entirely different outcome. I am pretty sure it would have been a winning trade. I am thankful I have found ema2trade. Those dumb panic mistakes are in my past, thanks to Patrick’s teaching. Sorry for being so long winded but I see the big picture and had to share the entire story. There are no coincidences. You are reading this testimonial for a reason. You ended up at the ema2trade website for a reason just like I did. Act on it now. Send him an email or break out that credit card and invest in knowledge from a great trader, mentor and teacher. This man is changing lives! I am looking forward to learning much more in the next months. I have to go set up his awesome indicator on additional charts so I can have even more success this week. Thanks Patrick! Tim Dever, life time entrepreneur and marketer aspiring to be a full time trader
let's see how Mr. Montedueca 's rebuttal* holds up to what is mentioned in the original Rip-Off Report on his sales practices and student enrollment criteria?
#5Author of original report
Fri, August 28, 2015
Rebuttal*
definition From Wikipedia, the free encyclopedia
- This article is about the legal concept; for a rebuttal used in informal logic, see counterargument.
In law, rebuttal is a form of evidence that is presented to contradict or nullify other evidence that has been presented by an adverse party.
let's see how Mr. Montedueca 's rebuttal* holds up to what is mentioned in the original Rip-Off Report on his sales practices and student enrollment criteria?
fact 1 Patrick told me that: "The VC code was adaptable to almost any size of account capitalization" I then suggested "10,000 dollars as a capitalization" and Mr Montesdeoca "assured me it was more than enough "
his rebuttal shows that he did not present facts to nullify this because it is true
fact 2 In order to actually day trade ETFs as are being doing quite often one needs a capitalization of at minimum $25,000 at all times, this is due to the Finra regulations
his rebuttal shows that he did not present facts to nullify this because it is true
fact 3 his stop loss orders are given on a market on close (MOC) basis only allowing markets to move strongly against you during the day and or night
his rebuttal shows that he did not present facts to nullify this because it is true
fact 4 I asked for a partial refund because the sales pitch given to me was not entirely truthful,
his rebuttal shows that he did not present facts to nullify this because it is true
In fact,most of what Patricks rebuttal entailed didn't offer contradictions or nullify what was in the original Rip-off report?
Furthermore, Patrick alludes to a seminar where there was a mention of my"...and that he was making money." dated April 29, 2015
He may be mistaken as can be seen here that the account utilized during his classes wasn't opened until May 4 2015 as evidenced here: http://screencast.com/t/VomHu7SvE
More so, recently published on Patricks own website a "shed of truth" of what is actually needed to capitalize and attain similar results to himself as evidenced here: http://screencast.com/t/2C9YWTqvb
so yes it was an overtraded account, why? because it didn't have the level of capitalization needed to effectively trade at Patricks academy:
you cannot expect $10,000 to perform the same in margin as $50.000 would- let me explain :
in order to buy 1 silver contract margin required averages $6600 in capital, meaning 1 could be purchased with a $10,000 in account, however with $50.000 7 could be purchased.
Why is this important?
In Patricks techniques often he would buy 1, then when it was losing money, he would buy another 1, then if it continued to lose money he would buy more. In this way If and when it came back up he could offset all the positions all at once when the ledger averaged out and shown a profit. With $10,000 in capital this technique is mathematically not possible to do
In fact Patrick continues to contradict himself throughout, the email copied and pasted in his rebuttal is in respect to a 3rd party mediator who suggested this, The mediator is well respected in the
trading community with MBA, Doctorates and a large loyal following. It was at the mediator's suggestion that a follow-up reply would have been posted positive light. In fact, Patrick agreed to it as evidenced here http://screencast.com/t/3psNnZQAp
In Conclusion, Patricks rebuttal failed to contradict most, if not all of what composed the original complaint
his rebuttal shows that he did not present facts to nullify the original complaint because it is all true
Equity Management Academy
Alabama,USA
Mr. Jon C "Deacon"
#6REBUTTAL Owner of company
Sun, August 09, 2015
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On April 8 to April 30, 2015, Mr. Jon made an unsolicited request for information on our programs and received a 30 day free trial and had access to all of our reports and trading room daily, weekly and monthly. Please see documented master file and activity.
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On April 29, 2015 Mr. Jon attended a videotaped live webinar for which his comments were documented of how happy and impressed he was with the programs and that he was making money.
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On May 5, 2015 Mr. Jon became a member and received a discounted 3 month subscription for $1,500 with unlimited consultation.
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In analysing the master file and activity it shows a very active amount of reports that were sent the day, week and month before. Very detailed discussions took place between Patrick and Jon several times a day and covered all areas critical to clients needs. All reports were recorded and reviewed in the Live trading room Mr. Jon had access on a daily basis from 7am Pacific Time to 2:15pm.
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No representation was ever made that we are brokers.
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Mr. Jon’s problems came from overtrading his account and not following compliance rules of risk and management.
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Mr. Jon has admitted through third party emails we have as evidence that he was responsible for publishing the Ripoff Report anonymously which is a violation of the law and that he is willing to backtrack and write positive content about EMA if he gets his refund.
The following is one of several emails from Mr Jon:
“The owner of that website (Ripoff Report) will not allow posts to be simply removed however:
I am willing to amend a follow-up posting in a very positive light to my previous one. I will write it and email it to you first before posting it as its most effective if done just once.
after I post it, I strongly suggest that a rebuttal post follow up from the company owner, Patrick, be posted as well, the post should emulate my positive post to bring it forefront to the readers eyes
this can actually be used as a positive promotion for him as potential students often search online for 3rd party reviews before enrolling, if they find this post and what is shown is his good nature and good customer service they will more likely enroll now and in the future
I actually can attest to that as I get many web referrals from that site and sold products to Toyota, Olympics and even the TSA because of it
if that is acceptable I will write the “follow up “ now and send it to you for his approval before publishing it
also I can write Patrick’s rebuttal so that it works for him as a promotion of his academy
if this works for him I will work on it
in addition I will stop all the other actions against him after the refund is made
John”
SUMMARY
Mr. Jon has made false accusations without evidence with the malicious and deliberate intent to defraud, lie and blackmail by misrepresenting the facts. Our documents confirm that we acted with integrity, transparency and truthfulness.
As a matter of principle we refused to refund.
James Patrick MontesDeOca
Equity Management Academy
