LTG GOLDROCK ULTIMATE JOKE

This company has deplorable customer support. They ask you to spend $5000 on their trading system. Yet, no one knows how to answer the phone. And, when they do answer, the girl on the other end of the phone doesn't know her stuff. Heard that people have called several times and nobody called back. Who can afford this in today's economy? Let alone giving a company all that money with questionable support. Very disappointed. Very poor company run by Australians.

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Hi there,

I was sucked in by a very well presented sales pitch and paid several thousand dollars for full access and training etc. This was 2 years ago, after a couple of months of paper trading I started a real money account, over the next 6 months I lost approximately 60% and gave up, pulled my money out and never looked back..... until now, LTG training seems heaps better than it was and I'm planning on spending a bit of time in the trading room just to see if they've picked up their game. I'm still not sure if I'll be following their trades but I'm looking into it.

Cheers

Brendon

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I have just read this thread and I think the ONLY positive COMMENT is from Andrew Barnett himself or his brother or coworker.How odd to have all negative comments then one great one.I agree very poor company run by Australians.

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Barnett threatened Trade2win.com with legal action so they removed the original thread. There is now a new thread at http://www.trade2win.com/boards/first-steps/109806-ltg-goldrock-2.html#post1333012

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And to think that a very highly esteemed money magazine advertised this company and I nearly got sucked in because I respected the money magazine. Well, I think the magazines who want to advertise any investing business, being so knowledable in their field?? should bloody well know what they are talking about before leading the readers astray because they have pretty big scores for influencing the public readers, wouldn't you agree here? I think they should be questioned as well.

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I agree with you. They are a bunch of scamsters. The Principles are Grant and Andrew Barnett. They are professional con men trying to con innocent people of money.I was told they tell their friends that this is a 4 year gig. Get as much money as possible then retire.

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These are the same guys that help ran Traders International, what a joke run for the hills, one time I sat there looking in their trading room for hours and then again the next day and no trades, what the.

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Interesting that the few punters that have something positive to say about this lot talk about the excellent education (this info is FREELY available on the net) and the "professional" traders (they have made bum calls to the tune of negative 500 pips for the first half of 2010).

Stooges of LTG Goldrock perhaps?

SAVE your dough and look elsewhere. Seriously.

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I joined LTG in September last year. So far the customer service has been exellent. As I ubderstand it I did not pay $5000 for their, as you put it, trading system. There is no trading system. Each o their traders has their own favourite trade, and there is plenty of trading methods to choose from. I paid for education in money and risk management, and how to spot trading opportunities, and how to run your forex trading proessionally. And the education is excellent. Andrew Barnett is particularly good in getting the inormation accross clearly and methodically. I am still paper trading. I was given a bank of 50.000. It is now 54.640. In a nutshell, I feel the $5000 was money well spent.

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Hi everyone. This is yet another example as to why, in the real world, you don't put a sales person in charge of a Company :

From the LTG Goldrock face book site, some fellow made the following very reasonable entry "Hey LTG just a quick question as i have wrote a email a few months back and got no reply.... when i attended the webinar Andrew quickly mentioned the fee is tax deductable is this true?? if so is it the whole fee or just a part of it?? Can i please get some info on this as its tax time and i want to be organised for my accountant. Thankyou!! "

Fair question, I thought. And, when you come to think about it, it really must be true if Andrew said so.

Then, the official reply from LTG:

"Hi xxxx, unfortunately we are not licensed to provide financial advice. You are welcome to call Jace xxxxx from xxxx Professional Services on (07) xxxxxxxx to ask Tax questions"

... but, but ..... but Andrew said so!!!!!!!!!???????????????? Good on you Andrew. Another sale locked in. To hell with the truth.

On an allied topic, I note that the facebook entries from the cheer squad and stooges have fallen right away. Maybe the idea is sinking in at long last. The only notable Facebook entries nowadays are from Barnett offering fundamental market analysis in his recently adopted role as the Sunshine Coast's David Koch (apologies to non Aus based readers and, indeed, David Koch)

Anyone who wants to engage in further conversation about these people should come over to the T2W forums at http://www.trade2win.com/boards/first-steps/91452-live-trader-global-17.html , where you will find a healthy discourse about barnett, his whole mob and their shonky antics. LTg Goldrock ... keep your money in your wallet.

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What a waste of money $5000 to join and receive access to a learning center that not only wastes my time but is all on a hole lot of maybe,s and possibilities & potentially etc.Another $500 for text alerts that i havent received for over a month now .Unfortunately ive paid up and wasted $5500.I would not recommend ltg in a fit.They told me i would make money using my mobile phone with windows so bought phone another waste of $500.they tell you a 7 minute work day is all it takes but you receive texts (when you reveive texts?)24 hrs a day and if you miss the text at 2am you are not abiding by there rules and hence forfit any refund.Sneeky sly and very much a scam.They tell you that if you have money house family or health issues dont trade forex but only tell you ounce you have coughed up the cash. In my opinion save your money dont give this mob a cent its just not worth the outlay.

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Truly deplorable results: Negative 688 pips YTD to end of May 2010 !!!

Look elsewhere; you can buy far far better many times over at a much lower cost.

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I joined with LTG at the end of January 2010. February and April were tough months with losses. But, that was because the market was crazy. Forex trading is simply unpredictable. In general, the really help you understand what you need to be doing, they give you the tools, they answer your questions, and call trades as they are seen by the professional traders around the clock. Personally, I've settled on a conservative trading plan where I trade the range trades that they call and use the money management that they teach (e.g., risk no more than 2% on a trade). I'm looking at about a 70% success rate off of these trades. For me, the customer service has been excellent. I made the investment to join and I am glad that I did. But, if you are looking for a guaranteed rate of return, I suggest buying certificates of deposit. Anyway, this is just my opinion. I like them and recommend them. Good luck trading ...

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Look at their trading results. A company which is very professional, have experienced traders have systems which are available to banks. How the hell they can have such poor performances. Look at their trading results for Feb, April and May 2010. I am an individual trader, not as experienced as those traders but even I can trade 10 times better than these guys.And the amount you have to pay $5000, its not worth it.

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I'm going through their free traning materials and demo account now. I probably won't open a real money account with them when my free trial expires, but not because of any direct knowledge of poor performance on their calls. I find the training matrials to be poorly organized and presupposing of a certain level of knowledge. They often refer to concepts covered in material that comes later in the training. It's clear to me that the training is geared towards (prioritized) funneling you into comittment to open an account and begin trading in real money before you really gain the knowledge necessary to make informed decisions and before you've gained a real facility with the tools they provide. Much of what I've seen so far seems like it could be replicated with a Ouiji board with similar results. A 30-day trial is just not enough time to gain adequate knowledge to put at risk the amount of money they require. Also, I'm U.S. based and even though their trading room is open 24/6, I'd prefer to use a U.S. based company that's subject to U.S. laws, regulations and oversight.

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Their success rate is very low, it's been very bad since the start of the year (success rate <30%). Not sure why they charge so much for membership, I don't think it's worth it.

Regards,

Louise

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this is a company who's managing director claims to be a "respected author" and a "world class educator" but in fact his book has never been released and he doesn't actually teach anyone anything, he is strictly a salesman. Why would Mr Barnett lie?

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Look at their February 2010 results, an unmitigated disaster.

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Question to me (by email):

"Hi there.

was researching ltg and found some negatives- are you still with them and would you recommend them?"

Answer: Started with a Bank acct $5.2k, is now $1.6k from their calls. So, NO, I would not recommended them

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Very interesting and spirited discussion here:

http://www.trade2win.com/boards/first-steps/64238-live-trader-global-good-bad-8.html

A Barnett has his say, but the detractors appear to shut him down...

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Email to me:

"Hi

I have been looking at LTG for a little while now, and attended some webinars,all looks good on the surface, can you tell me why you are down 2k, have you followed there instructions correctly, have you traded each recommendations, or just some. do you think the loss is mainly your fault or poor recommendations??????

Hope you can find the time to reply

Regards

Jeff"

Hi Jeff,

My early losses were due to a combination of i) poor money management on my behalf (since corrected) and ii) a run of LTG calls that were unsuccessful.

I also had some early issues with some of their recording of results (which I believe they have corrected), however I decided to persist with them ...

After a run of successful calls by LTG my Bank has returned to around $3.9 (from the low of $1.9), but seems to be stuck around that mark :-) Their success rate since that low has been good, and on balance I would recommend them. Just diary 60 days to check your position and ask for your money back if you are down, I guess.

NB Service and support IS good.

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I didn't have this experience. I am still going through all the training material, and trading only in monopoly money. I didn't follow their methods as I was excited and ready to go, thought I knew enough. I lost half my play money quick. Took time and learned more, stuck to their methods, their play calls etc, and I'm even again. I've never had trouble speaking to anyone from their group. They are in fact online, live, 24 /6 US Time. I have found their methods to be VERY conservative and I don't see how you lost money unless you strayed from what they teach. One of the first things they instructed us to do in the first online meeting, free by the way, was to read a book which is mostly about the psychology of trading and traders. The book, as well as one of LTGs online classes drives home the point about being responsible, you taking responsibility for your trading and the outcome be it good or not so good. You didn't read that book did you? You couldn't have. Your blaming your failure on others, anyone but yourself. Therefor, you should not be trading, of any sort. You are indeed irresponsible. And why the jab at Aussies? Just another way for you to justify your failure by having another party be responsible, other than yourself.

Sincerely, 50BMG

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I've found them pretty good, both in service and results. I'm only new to froex trading but in the last few weeks Goldrock's results have been excellent....they post their results on their website....something like 500 pips up for last month...

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Ignoring how well they are run or what their service is like (pretty good by the way), I have lost $2k after 2 months live trading...

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Sir sound like you are a competitor trying to make this company look bad, as how do you 'hear' that people have called several times. Either you have or you haven't tried to call yourself, and would know this first hand. this sound very suspect? The company has also never advertised or offered the price at $5000, currently they are offering people a free trial and why would a company with anything to hide do this.