Quote:
Originally Posted by rumiguru
I hope I'm not too late in warning you about this, but don't blow your $550 on this scammer! Unfortunately I've learned the hard way. $550 is a lot of money to me and its gone. Emerson Duhart is a bit of a paradox - he seems in every way as someone who wants to help and is truthful. He will talk with you on the phone to answer any questions and he answers his emails. However, what makes him a paradox is that he does all those things and SEEMS to be a quality, good guy ... but he is a LIAR and SCAMMER. Well, maybe in his delusional mind he thinks his system is great. And maybe he also somehow in his mind justified the way he has lied to and cheated people. Either way, he and his system are not as advertised. Here is what I am talking about:
* He has claimed his system made 20 - 50 pips a day. However, in the approximate 4 weeks I was in his chatroom/trading room, I rarely ever seen a day in which it made the minumum 20 pips.
* In his trading room he would almost never tell the exact price he would enter or exit a trade. He would just mention he was entering in a trade and would mention he was exiting a trade. Afterwards, he would say how he "made 15 pips". The problem was that I neve knew for sure if that was really the case because I didn't know his exact entry and exit points.
* In the cases he DID mention his entry and exit points, he didn't include the spread. Therefore, if for example, he said he made 10 pips on the gbp/usd, he actually made something like 6 or 7 pips (depending on whatever spread he had). So he tried to make his trades look like they made more than they did.
* He advertised he would be in his chatroom/trading room making trades between 2 am est - 12 pm est. The truth was that he actually was in there only 2 -4 hours per day (instead of the 10 hours he claimed). He would usually trade about the first 2 hours of the London session and then take a break, come back and trade approx. the first 2 hours of the U.S. session. If his system was so great, then why would he not stay the entire 10 hours and make the maximum numbers of pips he can possibly make? After all, it was supposedly a "great" system, wasn't it??
* In his advertising he says there are "no further fees" after purchasing his system. His advertising said this also included the use of his chatroom. However, a few weeks after I joined, he said everyone will be charged $550 once each year to stay in his chatroom. So much for his "no further fees"!
* He claimed he would refund anyone who wasn't making money with his system, but that was a total lie! There is a member at the talkgold.com forum that tried to get a refund. He provided all the requirements for the refund, such as proof of trading, etc. Despite all that, Emerson refused to give him a refund! The guy finally got a refund, but it required going to his credit card company (or some other source, I can't remember for sure) to get it.
I could go on and on about this scammer, but I think this thread at talkgold.com explains the whole story better:
Forex Independence - Talkgold HYIP, Investment & Money Forum
The thread starts out great about his system, but as you go through each page of the thread - and the REAL truth becomes known - it becomes another system that just does not work.
Topgun
P.S. - I need to be sure to also stress to stay away from his former business partners Hugh and Tex. They severed ties with Emerson and started their own trading room. They are just as much a scammer as Emerson is. They are also talked about on the thread I mentioned above.
Why is the forex world so full of scammers?? ):
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Hi, everyone; I just wanted to give my opinion here and not get into any
argument as I will only post this once as I feel Emerson is getting a bad
rap.
I told him about all the bad press and he actually told me not to even
bother to post anything on his behalf because he felt that the people
that actually use the software based on his instruction are successful and
know the truth.
I have been using different variations of his software since it only cost
$300 back in mid 2007.
I was very profitable but got greedy and started losing; but that is no
fault of Emerson. I called Emerson and he is always available to help as
a matter of fact he picks up the phone at odd hours; not sure if he really
sleeps.
Anyway he offered some suggestions and I have been digging myself
out of the hole ever since and this is directly attributed to his personalized
attention.
Many of his members being successful with the manually traded system
started requesting an automated version myself included; for a long time
he was against it because he said automated systems could not trade
better than a human. But eventually he gave in and started
programming it.
This EA became available the first quarter of 2008; some people were
successful some people were not because everyone was using
different brokers so the datafeed was different and there were a
few other bugs.
Anyway, I was one of those that were losing In January up to the
first week in February . But it started to pick up in March and I recovered.
I started to see the power of the EA; it did not take the same
trades as the manual system but it was still profitable.
We all had a meeting either in at the end of February or the beginning of
March because people wanted more trades.
Eventually, we all voted that Emerson should make the system more
aggressive; he told us that it would be risky but no one seemed to care.
So he programmed we ran tests together with us in the trading room;
sometimes he would actually let us watch him code in the webinar. I
thought that was pretty cool.
Anyway, the aggressive system never turned out to be profitable. But,
again I cannot blame Emerson because we all voted that he should make
it that way in an attempt to get more trades. The GREEN EYED MONSTER
struck us all!
Well to make a long story short he reverted back to the conservative version
in September and now I am averaging at least 50 pips a day and am happy
again.
I think anyone curious about the system should at least take a free demo
which he offers through his free daily webinar training session. It costs
nothing and you can see how powerful the system is by yourself and the
many upgrades that have happened recently.
Another, thing I feel that needs to be said; in the Forex game no one offers the
level of support he does and is willing to put himself on the line everyday in the
webinar giving complete transparency and "live" support of his program. The
other packages I have signed up for you would be lucky to get someone to
answer your email in 72 hours.
Anyway I have said my piece; and I hope Emerson doesn't get mad because he
didn't want me to post anything.
If you have any questions please feel free to contact me by PM