War Room Membership - The Forex Guy's Trading Strategies

I am a professional Day Trader working for a Prop Fund, Hope I can help people out and answer some questions

Howdy all, I work professionally for a proprietary trading fund, and have worked for quite a few in my time, hope I can offer some insights on trading etc you guys might have.
Bonus for you guys
Here are the columns in my trading journal and various explanations where appropriate:
Trade Number – Simply is this the first trade of the year? The 10th?, The 50th? I count a trade
that you opened and closed just one trade number. For example if you buy EUUSD today and
sell it 50 pips later in the day and close out the trade, then that is just one trade for recording
purposes. I do not create a second trade number to describe the exit. Both the entry and exit are
under the same trade number.


Ticket Number – This is ticket number / order ID number that your broker gives you for the trade
on your platform.


Day of the Week – This would be simply the day of the week the trade was initiated


Financial Instrument / Currency Pair – Whatever Financial Instrument or currency pair you are
trading. If you are trading EUUSD, put EUUSD. If you are trading the EuroFX futures
contract, then put in Euro FX. If you are trading the emini S&P, then put in Emini S&P 500. If
you are trading a stock, put in the ticker symbol. Etc.


Buy/Sell or Long/Short – Did you buy or sell to open the new trade? If you bought something to
open the trade, then write in either BUY or LONG. If you sold(shorted) something to open a
trade, then write in SOLD, or SHORT. This is a personal preference. Some people like to put in
their journals as BUY/SELL. Other people like to write in Long/Short. My preference is for
writing in long/short, since that is the more professional way to say it. I like to use the lingo
where possible.


Order Type – Market or Limit – When you entered the trade was it a market order or limit order?
Some people can enter a trade using a combination of market and limit orders. If you enter a
trade for $1 million half of which was market order and the other half was limit order, then you
can write in $500,000 Market, $500,000 Limit as a bullet points.


Position Size / Units / Contracts / Shares – How big was the total trade you entered? If you
bought 1 standard lot of a currency pair, then write in $100,000 or 1 standard lot. If you bought 5
gold futures contracts, then write in 5 contracts. If you bought 1,000 shares of stock, then write
in 1,000 shares. Etc.


Entry Price – The entry price you received entering your opening position. If you entered at
multiple prices, then you can either write in all the different fills you got, or specify the average
price received.


Entry Date – Date that you entered the position. For example January 23, 2012. Or you can
write in 1/23/12

.
Entry Time – Time that you opened the position. If it is multiple positions, then you can specify
each time for each various fill, or you can specify the time range. For example if you got
$100,000 worth of EUUSD filled at 3:00 AM EST, and another $100,000 filled at 3:05 and
another $100,000 filled at 3:25, then you can write all those in, or you can specify a range of 3:00
– 3:30 AM EST.


Entry Spread Cost (in pips) – This is optional if you want to keep track of your spread cost in
pips. If you executed a market order, how many pips did you pay in spread.


Entry Spread Cost (in dollars) – This is optional if you want to keep track of your spread cost in
dollars. If you executed a market order, how many dollars did you pay in spread.


Stop Loss Size – How big is your stop loss size? If you are trading a currency pair, then you
write in the pips. If you are trading the S&P futures contract, then write in the number of points.
If you are trading a stock, then write in how many cents or dollars your stop is away from your
entry price.


% Risk – If you were to get stopped out of the trade, how much % loss of your equity is that?
This is where you input your risk per trade expressed in % terms if you use such a position sizing
method. If you risked 0.50% of your account on the trade, then put in 0.50%


Risk in dollars – If you were to get stopped out of the trade, how much loss in dollars is that. For
example if you have a $100,000 account and you risked 1% on a trade, then write in $1,000
dollars


Potential Reward: Risk Ratio – This is a column that I only sometimes fill in. You write in what
the potential reward risk ratio of the trade is. If you are trading using a 100 pip stop and you
expect that the market can reasonably move 300 pips, then you can write in 3:1. Of course this is
an interesting column because you can look at it after the trade is finished and see how close you
were or how far removed from reality your initial projections were.


Potential Win Rate – This is another column that I only sometimes fill in. You write in what you
believe the potential win rate of this trade is. If you were to place this trade 10 times in a row,
how many times do you think you would win? I write it in as percentage terms. If you believe
the trade has a 50% chance to win, then write in 50%.


Type of Inefficiency – This is where you write in what type of inefficiency you are looking to
capture. I use the word inefficiency here. I believe it is important to think of trading setups as
inefficiencies. If you think in terms of inefficiencies, then you will think in terms of the market
being mispriced, then you will think about the reasons why the market is mispriced and why such
market expectations for example are out of alignment with reality. In this category I could write
in different types of trades such as fading the stops, different types of news trades, expecting
stops to get tripped, betting on sentiment intensifying, betting on sentiment reversing, etc. I do
not write in all the reasons why I took the trade in this column. I do that in another column. This
column is just to broadly define what type of inefficiency you are looking to capture.


Chart Time Frame – I do not use this since all my order flow based trades have nothing to do
with what chart time frame I look at. However, if you are a chartist or price action trader, then
you may want to include what chart time frame you found whatever pattern you were looking at.


Exit Price – When you exit your trade, you enter the price you received here.


Exit Date – The date you exited your trade.


Exit Time – The time you exited your trade.


Trade Duration – In hours, minutes, days or weeks. If the trade lasts less than an hour, I will
usually write in the duration in minutes. Anything in between 1 and 48 hours, I write in the hours
amount. Anything past that and I write it as days or weeks as appropriate, etc.
Pips the trade went against you before turning into a winner – If you have a trade that suffered a
draw down, but did not stop you out and eventually was a winner, then you write it how many
pips the trade went against you before it turned into a profitable trade. The reason you have this
column is to compare it to your stop loss size and see any patterns that emerge. If you notice that
a lot of your winning trades suffer a big draw down and get near your stop loss points but turn out
to be a profitable trade, then you can further refine your entry strategy to get in a better price.


Slippage on the Exit – If you get stopped out for a loss, then you write in how many pips you
suffered as slippage, if any. For example if you are long EUUSD at 1.2500 and have your stop
loss at 1.2400 and the market drops and you get filled at 1.2398, then you would write in -2 pips
slippage. In other words you lost 2 pips as slippage. This is important for a few different
reasons. Firstly, you want to see if the places you put your stop at suffer from slippage. If they
do, perhaps you can get better stop loss placement, or use it as useful information to find new
inefficiencies. Secondly, you want to see how much slippage your broker is giving you. If you
are trading the same system with different brokers, then you can record the slippage from each
one and see which has the lowest slippage so you can choose them.


Profit/Loss -You write in the profit and/or loss in pips, cents, points, etc as appropriate. If you
bought EUUSD at 1.2500 and sell it at 1.2550, you made 50 pips, so write in +50 pips. If you
bought a stock at $50 and you sell it at $60, then write in +$10. If you buy the S&P futures at
1,250 and sell them at 1,275, then write in +25 points. If you buy the GBP/USD at 1.5000 and
you sell it at 1.4900, then write in -100 pips. Etc. I color code the box background to green for
profit and red for loss.


Profit/Loss In Dollars – You write the profit and/or loss in dollars (or euros, or jpy, etc whatever
currency your account is denominated in). If you are long $100,000 of EUUSD at 1.2500 and
sell it at 1.2600, then write in +$1,000. If you are short $100,000 GBP/USD at 1.5900 and it
rises to 1.6000 and you cover, then write in -$1,000. I color code the box background to green
for profit and red for loss.


Profit/Loss as % of your account – Write in the profit and/or loss as % of your account. If a trade
made you 2% of your account, then write in +2%. If a trade lost 0.50%, then write in -0.50%. I
color code the box background to green for profit and red for loss.


Reward:Risk Ratio or R multiple: If the trade is a profit, then write in how many times your risk
did it pay off. If you risked 0.50% and you made 1.00%, then write in +2R or 2:1 or 2.0. If you
risked 0.50% and a trade only makes 0.10%, then write in +0.20R or 0.2:1 or 0.2. If a trade went
for a loss that is equal to or less than what you risked, then I do not write in anything. If the loss
is greater than the amount you risked, then I do write it in this column. For example lets say you
risk 0.50% on a stock, but overnight the market gaps and you lose 1.50% on a trade, then I would
write it in as a -3R.


What Type of trading loss if the trade lost money? – This is where I describe in very general
terms a trade if it lost money. For example, if I lost money on a trade and the reason was because
I was buying in a market that was making fresh lows, but after I bought the market kept on going
lower, then I would write in: “trying to pick a bottom.” If I tried shorting into a rising uptrend
and I take a loss, then I describe it as “trying to pick a top.” If I am buying in an uptrend and buy
on a retracement, but the market makes a deeper retracement or trend change, then I write in
“tried to buy a ret.” And so on and so forth. In very general terms I describe it. The various
ways I use are:
• Trying to pick a bottom
• Trying to pick a top
• Shorting a bottom
• Buying a top
• Shorting a ret and failed
• Wrongly predicted news
• Bought a ret and failed
• Fade a resistance level
• Buy a support level
• Tried to buy a breakout higher
• Tried to short a breakout lower
I find this category very interesting and important because when performing trade journal
analysis, you can notice trends when you have winners or losing trades. For example if I notice a
string of losing trades and I notice that all of them occur in the same market, and all of them have
as a reason: “tried to pick a bottom”, then I know I was dumb for trying to pick a bottom five
times in a row. I was fighting the macro order flow and it was dumb. Or if I notice a string of
losers and see that I tried to buy a breakout and it failed five times in a row, but notice that the
market continued to go higher after I was stopped out, then I realize that I was correct in the
move, but I just applied the wrong entry strategy. I should have bought a retracement, instead of
trying to buy a fresh breakout.


That Day’s Weaknesses (If any) – This is where I write in if there were any weaknesses or
distractions on the day I placed the trade. For example if you are dead tired and place a trade,
then write in that you were very tired. Or if you place a trade when there were five people
coming and out of your trading office or room in your house, then write that in. If you placed the
trade when the fire alarm was going off then write that in. Or if you place a trade without having
done your daily habits, then write that in. Etc. Whatever you believe was a possible weakness
that threw you off your game.


That Day’s Strengths (If any) – Here you can write in what strengths you had during the day you
placed your trade. If you had complete peace and quiet, write that in. If you completed all your
daily habits, then write that in. Etc. Whatever you believe was a possible strength during the
day.


How many Open Positions Total (including the one you just placed) – How many open trades do
you have after placing this one? If you have zero open trades and you just placed one, then the
total number of open positions would be one, so write in “1.” If you have on three open trades,
and you are placing a new current one, then the total number of open positions would be four, so
write in “4.” The reason you have this column in your trading journal is so that you can notice
trends in winning and losing streaks. Do a lot of your losing streaks happen when you have on a
lot of open positions at the same time? Do you have a winning streak when the number of open
positions is kept low? Or can you handle a lot of open positions at the same time?


Exit Spread Cost (in pips) – This is optional if you want to keep track of your spread cost in pips.
If you executed a market order, how many pips did you pay in spread.


Exit Spread Cost (in dollars) – This is optional if you want to keep track of your spread cost in
dollars. If you executed a market order, how many dollars did you pay in spread.


Total Spread Cost (in pips) – You write in the total spread cost of the entry and exit in pips.


Total Spread Cost (in dollars) – You write in the total spread cost of the entry and exit in dollars.


Commission Cost – Here you write in the total commission cost that you incurred for getting in
and out of the trade. If you have a forex broker that is commission free and only gets
compensated through the spread, then you do not need this column.


Starting Balance – The starting account balance that you had prior to the placing of the trade


Interest/swap – If you hold forex currency pairs past the rollover, then you either get interest or
need to pay out interest depending on the rollover rates. Or if you bought a stock and got a
dividend then write that in. Or if you shorted a stock and you had to pay a dividend, then write
that in.


Ending Balance – The ending balance of your account after the trade is closed after taking into
account trade P&L, commission cost, and interest/swap.


Reasons for taking the trade – Here is where you go into much more detail about why you placed
the trade. Write out your thinking. Instead of writing a paragraph or two describing my thinking
behind the trade, I condense the reasons down into bullet points. It can be anywhere from 1-10
bullet points.


What I Learned – No matter if the trade is a win or loss, write down what you believed you
learned. Again, instead of writing out a paragraph or two, I condense it down into bullet points. it
can be anywhere from 1-10 bullet points. I do this during the day the trade closed as a profit or
loss.


What I learned after Long Term reflection, several days, weeks, or months – This is the very
interesting column. This is important because after you have a winning or losing trade, you will
not always know the true reasons why it happened. You have your immediate theories and
reasons which you include in the previous column. However, there are times when after several
days, weeks, or months, you find the true reason and proper market belief about why your trade
succeeded or failed. It can take a few days or weeks or months to reach that “aha” moment. I am
not saying that I am thinking about trades I placed ten months ago. I try to forget about them and
focus on the present moment. However, there will be trades where you have these nagging
questions about they failed or succeeded and you will only discover those reasons several days,
weeks, or months later. When you discover the reasons, you write them in this column.
submitted by Fox-The-Wise to Forex [link] [comments]

My First Year of Trading

So here it is, three more days and October begins, which marks one year of trading for me. I figured I would contribute to the forum and share some of my experience, a little about me, and what I've learned so far. Whoever wants to listen, that's great. This might get long so buckle up..
Three years ago, I was visiting Toronto. I don't get out much, but my roommate at the time travels there occasionally. He asked everyone at our place if we wanted to come along for a weekend. My roommate has an uncle that lives there and we didn't have to worry about a hotel because his uncle owns a small house that's unlived in which we could stay at. I was the only one to go with. Anyways, we walk around the city, seeing the sights and whatnot.
My friend says to me "where next?"
"I don't know, you're the tour guide"
"We can go check out Bay Street"
"what's 'Bay Street?'"
"It's like the Canadian Wall street! If you haven't seen it you gotta see it!"
Walking along Bay, I admire all the nice buildings and architecture, everything seems larger than life to me. I love things like that. The huge granite facades with intricate designs and towering pillars to make you think, How the fuck did they make that? My attention pivots to a man walking on the sidewalk opposite us. His gait stood out among everyone, he walked with such a purpose.. He laughed into the cell phone to his ear. In the elbow-shoving city environment, he moved with a stride that exuded a power which not only commanded respect, but assumed it. I bet HE can get a text back, hell he's probably got girls waiting on him. This dude was dressed to kill, a navy suit that you could just tell from across the street was way out of my budget, it was a nice fucking suit. I want that. His life, across the street, seemed a world a way from my own. I've worn a suit maybe twice in my life. For my first communion, it was too big for me, I was eleven or whatever so who gives a shit, right? I'm positive I looked ridiculous. The other time? I can't remember.
I want that. I want the suit. I want the wealth, the independence. I want the respect and power, and I don't give a shit what anyone thinks about it.
Cue self doubt.
Well, He's probably some rich banker's son. That's a world you're born into. I don't know shit about it. \sigh* keep walking..*

A year later, I'm visiting my parents at their house, they live an hour away from my place. My dad is back from Tennessee, his engineering job was laying people off and he got canned... Or he saw the end was near and just left... I don't know, hard to pay attention to the guy honestly because he kind of just drones on and on. ("Wait, so your mom lives in Michigan, but your dad moved to Tennessee... for a job?" Yea man, I don't fucking know, not going to touch on that one.) The whole project was a shit show that was doomed to never get done, the way he tells it. And he's obviously jaded from multiple similar experiences at other life-sucking engineer jobs. My mom is a retired nurse practitioner who no longer works because of her illness. I ask him what he's doing for work now and he tells me he trades stocks from home. I didn't even know you could do that. I didn't know "trading" was a thing. I thought you just invest and hope for the best.
"Oh that's cool, how much money do you need to do that?"
"Ehh, most say you need at least $25,000 as a minimum"
"Oh... guess I can't do that..."
Six months later, I get a call and it's my dad. We talk a little about whatever. Off topic, he starts asking if I'm happy doing what I'm doing (I was a painter, commercial and residential) I tell him yes but it's kind of a pain in the ass and I don't see it as a long term thing. Then he gets around to asking if I'd like to come work with him. He basically pitches it to me. I'm not one to be sold on something, I'm always skeptical. So I ask all the questions that any rational person would ask and he just swats them away with reassuring phrases. He was real confident about it. But basically he says for this to work, I have to quit my job and move back home so he can teach me how to trade and be by my side so I don't do anything stupid. "My Name , you can make so much money." I say that I can't raise the $25,000 because I'm not far above just living paycheck to paycheck. "I can help you out with that." Wow, okay, well... let me think about it.
My "maybe" very soon turned into a "definitely." So over the next six months, I continue to work my day job painting, and I try to save up what I could for the transition (it wasn't a whole lot, I sucked at saving. I was great at spending though!). My dad gives me a book on day trading (which I will mention later) and I teach myself what I can about the stock market using Investopedia. Also in the meantime, my dad sends me encouraging emails. He tells me to think of an annual income I would like to make as a trader, and used "more than $100,000 but less than a million" as a guideline. He tells me about stocks that he traded that day or just ones that moved and describes the basic price action and the prices to buy and sell at. Basically saying "if you bought X amount of shares here and sold it at X price here, you could make a quick 500 bucks!" I then use a trading sim to trade those symbols and try to emulate what he says. Piece of cake. ;)
Wow, that's way more than what I make in a day.
He tells me not to tell anyone about my trading because most people just think it's gambling. "Don't tell your Mom either." He says most people who try this fail because they don't know how to stop out and take a loss. He talks about how every day he was in a popular chatroom, some noob would say something like, "Hey guys, I bought at X price (high of day or thereabout), my account is down 80% .. uhh I'm waiting for it to come back to my entry price.. what do I do??"
Well shit, I'm not that fucking dumb. If that's all it takes to make it is to buy low, sell high, and always respect a stop then I'll be fantastic.
By the end of September, I was very determined. I had been looking forward everyday to quitting my painting job because while it used to be something I loved, it was just sucking the life out of me at this point. Especially working commercial, you just get worked like a dog. I wasn't living up to my potential with that job and I felt awful for it every minute of every day. I knew that I needed a job where I could use my brain instead of slaving my body to fulfill someone else's dream. "Someone's gotta put gas in the boss's boat" That's a line my buddy once said that he probably doesn't know sticks with me to this day.
It ain't me.
So now it was October 2018, and I'm back living with Mom n' Pops. I was so determined that on my last day of work I gave away all of my painting tools to my buddy like, "here, I don't need this shit." Moving out of my rental was easy because I don't own much, 'can't take it with ya.' Excited for the future I now spend my days bundled up in winter wear in the cold air of our hoarder-like basement with a space heater at my feet. My laptop connected to a TV monitor, I'm looking at stocks next to my dad and his screens in his cluttered corner. Our Trading Dungeon. I don't trade any money, (I wasn't aware of any real-time sim programs) I just watch and learn from my dad. Now you've got to keep in mind, and look at a chart of the S&P, this is right at the beginning of Oct '18, I came in right at the market top. Right at the start of the shit-show. For the next three or four weeks, I watch my dad pretty much scratch on every trade, taking small loss after small loss, and cursing under his breath at the screen.
Click.
"dammit."
Click.
"shit."
Click. Click.
"you fuck."
Click.
This gets really fucking annoying as time goes on, for weeks, and I get this attitude like ugh, just let me do it. I'll make us some fucking money. So I convince him to let me start trading live. I didn't know anything about brokers so I set up an account using his broker, which was Fidelity. It was a pain and I had to jump through a lot of hoops to be able to day trade with this broker. I actually had to make a joint account with my dad as I couldn't get approved for margin because my credit score is shit (never owned a credit card) and my net worth, not much. Anyways, they straight up discourage day trading and I get all kinds of warning messages with big red letters that made me shit myself like oooaaahhh what the fuck did I do now. Did I forget to close a position?? Did I fat finger an order? Am I now in debt for thousands of dollars to Fidelity?? They're going to come after me like they came after Madoff. Even after you are approved for PDT you still get these warning messages in your account. Some would say if I didn't comply with "whatever rule" they'd even suspend my account for 60 days. It was ridiculous, hard to describe because it doesn't make sense, and it took the support guy on the phone a good 20 minutes to explain it to me. Basically I got the answer "yea it's all good, you did nothing wrong. As long as you have the cash in your account to cover whatever the trade balance was" So I just kept getting these warnings that I had to ignore everyday. I hate Fidelity.
My fist day trading, I made a few so-so trades and then I got impatient. I saw YECO breaking out and I chased, soon realized I chased, so I got out. -$500. Shit, I have to make that back, I don't want my dad to see this. Got back in. Shit. -$400. So my first day trading, I lost $900. My dumbass was using market orders so that sure didn't help. I reeled the risk back and traded more proper position size for a while, but the commissions for a round trip are $10, so taking six trades per day, I'm losing $60 at a minimum on top of my losing trades. Quickly I realized I didn't know what the hell I was doing. What about my dad? Does HE know? One day, in the trading dungeon, I was frustrated with the experience I'd been having and just feeling lost overall. I asked him.
"So, are you consistently profitable?"
"mmm... I do alright."
"Yea but like, are you consistently profitable over time?"
.........................
"I do alright."
Silence.
"Do you know any consistently profitable traders?"
"Well the one who wrote that book I gave you, Tina Turner.. umm and there's Ross Cameron"
......................
"So you don't know any consistently profitable traders, personally.. People who are not trying to sell you something?"
"no."
...................
Holy fucking shit, what did this idiot get me into. He can't even say it to my face and admit it.
This entire life decision, quitting my job, leaving my rental, moving from my city to back home, giving shit away, it all relied on that. I was supposed to be an apprentice to a consistently profitable day trader who trades for a living. It was so assumed, that I never even thought to ask! Why would you tell your son to quit his job for something that you yourself cannot do? Is this all a scam? Did my dad get sold a DREAM? Did I buy into some kind of ponzi scheme? How many of those winning trades he showed me did he actually take? Are there ANY consistently profitable DAY TRADERS who TRADE FOR A LIVING? Why do 90% fail? Is it because the other 10% are scamming the rest in some way? Completely lost, I just had no clue what was what. If I was going to succeed at this, if it was even possible to succeed at this, it was entirely up to me. I had to figure it out. I still remember the feeling like an overwhelming, crushing weight on me as it all sunk in. This is going to be a big deal.. I'm not the type to give up though. In that moment, I said to myself,
I'm going to fucking win at this. I don't know if this is possible, but I'm going to find out. I cannot say with certainty that I will succeed, but no matter what, I will not give up. I'm going to give all of myself to this. I will find the truth.
It was a deep moment for me. I don't like getting on my soapbox, but when I said those things, I meant it. I really, really meant it. I still do, and I still will.
Now it might seem like I'm being hard on my dad. He has done a lot for me and I am very grateful for that. We're sarcastic as hell to each other, I love the bastard. Hell, I wouldn't have the opportunity to trade at all if not for him. But maybe you can also understand how overwhelmed I felt at that time. Not on purpose, of course he means well. But I am not a trusting person at all and I was willing to put trust into him after all the convincing and was very disappointed when I witnessed the reality of the situation. I would have structured this transition to trading differently, you don't just quit your job and start trading. Nobody was there to tell me that! I was told quite the opposite. I'm glad it happened anyway, so fuck it. I heard Kevin O'Leary once say,
"If I knew in the beginning how difficult starting a business was, I don't know that I ever would've started."
This applies very much to my experience.
So what did I do? Well like everyone I read and read and Googled and Youtube'd my ass off. I sure as hell didn't pay for a course because I didn't have the money and I'm like 99% sure I would be disappointed by whatever they were teaching as pretty much everything can be found online or in books for cheap or free. Also I discovered Thinkorswim and I used that to sim trade in real-time for three months. This is way the hell different than going on a sim at 5x speed and just clicking a few buy and sell buttons. Lol, useless. When you sim trade in real-time you're forced to have a routine, and you're forced to experience missing trades with no chance to rewind or skip the boring parts. That's a step up because you're "in it". I also traded real money too, made some, lost more than I made. went back to sim. Traded live again, made some but lost more, fell back to PDT. Dad fronted me more cash. This has happened a few times. He's dug me out of some holes because he believes in me. I'm fortunate.
Oh yeah, about that book my dad gave me. It's called A Beginner's Guide to Day Trading Online by Toni Turner. This book... is shit. This was supposed to be my framework for how to trade and I swear it's like literally nothing in this book fucking works lol. I could tell this pretty early on, intuitively, just by looking at charts. It's basically a buy-the-breakout type strategy, if you want to call it a strategy. No real methodology to anything just vague crap and showing you cherry-picked charts with entries that are way too late. With experience in the markets you will eventually come to find that MOST BREAKOUTS FAIL. It talks about support/resistance lines and describes them as, "picture throwing a ball down at the floor, it bounces up and then it bounces down off the ceiling, then back up." So many asinine assumptions. These ideas are a text book way of how to trade like dumb money. Don't get me wrong, these trades can work but you need to be able to identify the setups which are more probable and identify reasons not to take others. So I basically had to un-learn all that shit.
Present day, I have a routine in place. I'm out of the dungeon and trade by myself in my room. I trade with a discount broker that is catered to day traders and doesn't rape me on commissions. My mornings have a framework for analyzing the news and economic events of the particular day, I journal so that I can recognize what I'm doing right and where I need to improve. I record my screens for later review to improve my tape reading skills. I am actually tracking my trades now and doing backtesting in equities as well as forex. I'm not a fast reader but I do read a lot, as much as I can. So far I have read about 17-18 books on trading and psychology. I've definitely got a lot more skilled at trading.
As of yet I am not net profitable. Writing that sounds like selling myself short though, honestly. Because a lot of my trades are very good and are executed well. I have talent. However, lesser quality trades and trades which are inappropriately sized/ attempted too many times bring down that P/L. I'm not the type of trader to ignore a stop, I'm more the trader that just widdles their account down with small losses. I trade live because at this point, sim has lost its value, live trading is the ultimate teacher. So I do trade live but I just don't go big like I did before, I keep it small.
I could show you trades that I did great on and make people think I'm killing it but I really just don't need the validation. I don't care, I'm real about it. I just want to get better. I don't need people to think I'm a genius, I'm just trying to make some money.
Psychologically, to be honest with you, I currently feel beaten down and exhausted. I put a lot of energy into this, and sometimes I work myself physically sick, it's happened multiple times. About once a week, usually Saturday, I get a headache that lasts all day. My body's stress rebound mechanism you might call it. Getting over one of those sick periods now, which is why I barely even traded this week. I know I missed a lot of volatility this week and some A+ setups but I really just don't give a shit lol. I just currently don't have the mental capital, I think anyone who's been day trading every day for a year or more can understand what I mean by that. I'm still being productive though. Again, I'm not here to present an image of some badass trader, just keeping it real. To give something 100% day after day while receiving so much resistance, it takes a toll on you. So a break is necessary to avoid making bad trading decisions. That being said, I'm progressing more and more and eliminating those lesser quality trades and identifying my bad habits. I take steps to control those habits and strengthen my good habits such as having a solid routine, doing review and market research, taking profits at the right times, etc.
So maybe I can give some advice to some that are new to day trading, those who are feeling lost, or just in general thinking "...What the fuck..." I thought that every night for the first 6 months lol.
First of all, manage expectations. If you read my story of how I came to be a trader, you can see I had a false impression of trading in many aspects. Give yourself a realistic time horizon to how progress should be made. Do not set a monetary goal for yourself, or any time-based goal that is measured in your P/L. If you tell yourself, "I want to make X per day, X per week, or X per year" you're setting yourself up to feel like shit every single day when it's clear as the blue sky that you won't reach that goal anytime soon. As a matter of fact, it will appear you are moving further AWAY from that goal if you just focus on your P/L, which brings me to my next point.
You will lose money. In the beginning, most likely, you will lose money. I did it, you'll do it, the greatest Paul Tudor Jones did it. Trading is a skill that needs to be developed, and it is a process. Just look at it as paying your tuition to the market. Sim is fine but don't assume you have acquired this skill until you are adept at trading real money. So when you do make that leap, just trade small.
Just survive. Trade small. get the experience. Protect your capital. To reach break even on your bottom line is a huge accomplishment. In many ways, experience and screen time are the secret sauce.
Have a routine. This is very important. I actually will probably make a more in-depth post in the future about this if people want it. When I first started, I was overwhelmed with the feeling "What the fuck am I supposed to DO?" I felt lost. There's no boss to tell you how to be productive or how to find the right stocks, which is mostly a blessing, but a curse for new traders.
All that shit you see, don't believe all that bullshit. You know what I'm talking about. The bragposting, the clickbait Youtube videos, the ads preying on you. "I made X amount of money in a day and I'm fucking 19 lolz look at my Lamborghini" It's all a gimmick to sell you the dream. It's designed to poke right at your insecurities, that's marketing at it's finest. As for the bragposting on forums honestly, who cares. And I'm not pointing fingers on this forum, just any trading forum in general. They are never adding anything of value to the community in their posts. They never say this is how I did it. No, they just want you to think they're a genius. I can show you my $900 day trading the shit out of TSLA, but that doesn't tell the whole story. Gamblers never show you when they lose, you might never hear from those guys again because behind the scenes, they over-leveraged themselves and blew up. Some may actually be consistently profitable and the trades are 100% legit. That's fantastic. But again, I don't care, and you shouldn't either. You shouldn't compare yourself to others.
"Everyone's a genius in a bull market" Here's the thing.. Markets change. Edges disappear. Trading strategies were made by traders who traded during times when everything they did worked. Buy all the breakouts? Sure! It's the fucking tech bubble! Everything works! I'm sure all those typical setups used to work fantastically at some point in time. But the more people realize them, the less effective they are. SOMEONE has to be losing money on the opposite side of a winning trade, and who's willing to do that when the trade is so obvious? That being said, some things are obvious AND still work. Technical analysis works... sometimes. The caveat to that is, filters. You need to, in some way, filter out certain setups from others. For example, you could say, "I won't take a wedge pattern setup on an intraday chart unless it is in a higher time frame uptrend, without nearby resistance, and trading above average volume with news on that day."
Have a plan. If you can't describe your plan, you don't have one. Think in probabilities. You should think entirely in "if, then" scenarios. If X has happens, then Y will probably happen. "If BABA breaks this premarket support level on the open I will look for a pop up to short into."
Backtest. Most traders lose mainly because they think they have an edge but they don't. You read these books and all this stuff online telling you "this is a high probability setup" but do you know that for a fact? There's different ways to backtest, but I think the best way for a beginner is manual backtesting with a chart and an excel sheet. This builds up that screen time and pattern recognition faster. This video shows how to do that. Once I saw someone do it, it didn't seem so boring and awful as I thought it was.
Intelligence is not enough. You're smarter than most people, that's great, but that alone is not enough to make you money in trading necessarily. Brilliant people try and fail at this all the time, lawyers, doctors, surgeons, engineers.. Why do they fail if they're so smart? It's all a fucking scam. No, a number of reasons, but the biggest is discipline and emotional intelligence.
Journal every day. K no thanks, bro. That's fucking gay. That's how I felt when I heard this advice but really that is pride and laziness talking. This is the process you need to do to learn what works for you and what doesn't. Review the trades you took, what your plan was, what actually happened, how you executed. Identify what you did well and what you can work on. This is how you develop discipline and emotional intelligence, by monitoring yourself. How you feel physically and mentally, and how these states affect your decision-making.
Always be learning. Read as much as you can. Good quality books. Here's the best I've read so far;
Market Wizards -Jack Schwager
One Good Trade -Mike Bellafiore
The Daily Trading Coach -Bret Steenbarger
Psycho-cybernetics -Maxwell Maltz
Why You Win or Lose -Fred Kelly
The Art and Science of Technical Analysis -Adam Grimes
Dark Pools -Scott Patterson
Be nimble. Everyday I do my research on the symbols I'm trading and the fundamental news that's driving them. I might be trading a large cap that's gapping up with a beat on EPS and revenue and positive guidance. But if I see that stock pop up and fail miserably on the open amidst huge selling pressure, and I look and see the broader market tanking, guess what, I'm getting short, and that's just day trading. The movement of the market, on an intraday timeframe, doesn't have to make logical sense.
Adapt. In March I used to be able to buy a breakout on a symbol and swing it for the majority of the day. In the summer I was basically scalping on the open and being done for the day. Volatility changes, and so do my profit targets.
Be accountable. Be humble. Be honest. I take 100% responsibility for every dime I've lost or made in the market. It's not the market makers fault, it wasn't the HFTs, I pressed the button. I know my bad habits and I know my good habits.. my strengths/ my weaknesses.
Protect yourself from toxicity. Stay away from traders and people on forums who just have that negative mindset. That "can't be done" mentality. Day trading is a scam!! It can certainly be done. Prove it, you bastard. I'm posting to this particular forum because I don't see much of that here and apparently the mods to a good job of not tolerating it. As the mod wrote in the rules, they're most likely raging from a loss. Also, the Stocktwits mentality of "AAPL is going to TANK on the open! $180, here we come. $$$" , or the grandiose stories, "I just knew AMZN was going to go up on earnings. I could feel it. I went ALL IN. Options money, baby! ka-ching!$" Lol, that is so toxic to a new trader. Get away from that. How will you be able to remain nimble when this is your thought process?
Be good to yourself. Stop beating yourself up. You're an entrepreneur. You're boldly going where no man has gone before. You've got balls.
Acknowledge your mistakes, don't identify with them. You are not your mistakes and you are not your bad habits. These are only things that you do, and you can take action necessary to do them less.
It doesn't matter what people think. Maybe they think you're a fool, a gambler. You don't need their approval. You don't need to talk to your co-workers and friends about it to satisfy some subconscious plea for guidance; is this a good idea?
You don't need anyone's permission to become the person you want to be.
They don't believe in you? Fuck 'em. I believe in you.
submitted by indridcold91 to Daytrading [link] [comments]

ERIC HO FRAUD

This post was created as I felt compelled to share my experience with Eric Ho's mentorship program that I'd signed up to, along with about 10 other mentees and paid £12,000 each for 1-year program. To provide authenticity of my account, I have provided PROOF of the receipt, plus his "up sell" to other programs, and how he boots people out at the end and there is no more contacts with him whatsoever. I have also found other website, where people have complaining and have lost money, like I had done. I will post the link below in the message, and it shows Eric Ho's company details from Gov.uk's Companies House, which are not worth what he claims, in fact many are in debt & closed down..
 
Here, I CHALLENGE Eric Ho to comment below this post if he thinks this is an unfair account, as he commented on his Facebook saying how this is not a true reflection of his program... I can provide PROOFs of all the accounts & experience detailed here, from other ex-mentees and how we'd all suffered and lost our savings, with no real value in the end... and if I can provide these proofs, will Eric Ho refund all our payments? Come on Eric Ho, I challenge you.. If you are honest, you should be able to take up this challenge than just comment in your FB..
 
First, see a link below, for the proof that I was his ex-mentee, so my details below comes from after going through his mentorship program, and it shows further proofs of "up sell", and how he booted everyone out in the end, and how we were only given 7-days to ask for our refund or else your payment is vanished!! And how is anyone suppose to know within 7-days that the mentorship was not a valuable program and it was full of "motivation" rally within a week of signing up?? See: https://drive.google.com/open?id=1QT9POxakgkIrXFEQN8uS4VqtEcD08F89
  See other people complain about Eric Ho's scam, and John Lee, and their method, which is just telling stories after stories and showing pictures of their success and cars (some outside the car show room) and claiming to be very successful, when they are not... company house record shows average financial statement.. https://www.propertytribes.com/eric-ho-t-127631542.html
 
Eric Hor, was introduced in one of John Lee's of Wealth Dragon seminar. There were bunch of us in the mentee group, mainly women who seemed vulnerable and naive i.e single mothers and old ladies. Eric Ho operates from his website, erichoofficial.com & hakademy.com.
 
Eric Ho promised a lots of things prior to signing up to his program and he promised all the mentees that he would help them to launch their business and in many cases, collaborate with his existing business and provide a platform and contacts to leverage our business... hence, paying £12,000 is worth it, in fact its cheap! However, it was far from that.. It became obvious after a few months, and until this point, it was all "motivational" stuffs i.e. meeting up with the group of mentees for dinner and drinks after one of his seminars in London and during these meet ups it was mainly him posting live videos on YouTube with bunch of mentees for his own marketing campaign (to show people what a good time we are all having and to get Likes and Shares). However, secretly many of his mentees were suffering as we forked out £1000 monthly towards his program and it was costing us more than our monthly mortgage payment!
 
Time goes fast, you set appointment with Eric whenever he is in London, but he sees all of his mentees after his 2-3 days seminar, where he is tired after long event, so it's rushed through as only 30mins appointment, and given generic advices and he is seeing mentees one after another.. During this appointments you go there and wait, he is talking to another mentee, then your turn comes, as you start the meeting, you see the anotehr mentee waiting for you to finish the meeting... so Eric Ho is in a rush to see you off. Hence, advices are given on the spot... He even forgets the last conversation you've had with him and repeats many comments / feedback that was given in the last appointment, as he sees all the mentees + new followers (to sign them up for his program) on that day... the new followers are far more important to him as they are a potential leads for another 12k per person and since we've already paid our fees and locked in the contract... we are a less priority for him. He forgets the action plan you had discussed with him in the last meeting and its clear that he cannot keep track of all his mentees seeing one after another after his long 2-3 days seminar event... He is very tired and gives you generic marketing advice. And when you make progress or need some suggestions from Eric Ho, our "mentor", he is out out of the country, somewhere overseas, posting videos from the beach about his luxurious lifestyle, flying business class flights and showing off his latest branded watch! and you are there stuck and unable to contact him or in the best case you receive a messages on Wats App. And that’s all...
 
You wait for him to return, but then you see another video from another part of the world, again, marketing himself and his seminars, and his new gadgets or a catchy video title and image of him and his latest girlfriend. Talking about his girlfriend.. he keeps using them in his video, to get likes and views, then after a year or so, there's a new girl and the old one is never seen again! And his new girlfriends are the seminar audience! At this time you start to doubt if Eric is serious about business. A true business man, a mentor should be there for you and know and care abot your business as much as you do.... not posting 5 videos, and 10 selfie a day! Think about it people.. his mind is occupied by social media posts and videos, and all he wants is NEW leads so he can generate additional fees... once you have paid, you are yesterdays newspaper to him..... You true business personnel dont act like this i.e. Fortune 500 companies executives, FTSE 250 leaders don’t act like a child showing off their new toys on a social media with his cars, watches, house etc.. Its unbearable as you begin to wonder that your payment is actually funding his lifestyle and his latest gadgets, and you are cant even reach him!
 
You begin to wonder and talk to other mentees and they all feel the same but no one dares to confront him as he is "so nice" and always so "positive" talking about "motivational stuffs", a sage, guru, who acts like one of those religious cult figures that brain washes people and builds up followers for his ulterior motive. The key here is, get likes and shares from Facebook, Insta, YouTube etc.. then get them to attend the seminar and then use classical sales technique i.e. "one day offer only" and sign them up for 12 months contract, where you can only ask for refund within 7 days (terms) and its impossible to know that you wont get any value within 7 days, so now you are locked in the contract and if you miss payment, Eric Ho and John Lee (Wealth Dragon) will send you red letter to take you to Debt Recovery and send bailiff to your house... and they have in-house lawyers workling for them, who emails you warning you of the consequences.... then you get worried and also have no time to go to the court and pay additional fee to solicitors not knowing you might lose more money because you have signed the contract... so you keep quite and pay the 12k!!! "Its numbers game" as they say... for example, get 100 likes and views, from that, get 20 people to seminar, then get 1 person to sign up and lock in 12 months contract... thats 12k! Now multiply this by few hundreds and thousands, then there you have it.. About 30-40 mentees a year, plus now "UP SELL" their other products, i.e. Public speaking, Forex, Property investments, Heath & Fitness, Spiritual mind etc.... thats their game! And make you bankrupt!!
 
By the way, if you want to learn Public Speaking, then just join your local Toastmasters club, where you will only pay between £50-£60 for 6 months!! with every 2 x weeks meetings, it will cost you more or less the same price of a coffee/tea per meeting. Toastmasters is everywhere, almost in every country. I have now completed almost my 10th speech. One thing about Public speaking is, its not a skill you obtained by attending a weekend or week long training that Eric Hor and John Lee is offering.. you must attend regularly every 2-3 weeks, even if you miss some meetings (that don't matter), to develop your skills. It's developed and built over time - not by attending short trainings on weekends or week-long program paying thousands of pounds/dollars. So dont be fool, don't pay Eric Hor and John Lee. Public speaking skills is like any other skills you learn, whether sports, or your regular exercise. If you stop going to gym for few months... what happens? Same with public speaking... you must attend regularly for at least 6-months to a 1-year.. then you develop skills + see other speakers do it, which you will pick up subconsciously, and when you step up to do your speech.. you will naturally exhibit skills (that you had picked up by watching other speakers on a regular basis by going to these meetings).. also, for every speech, you are given a detailed guide, as to how to structure it i.e. bullet points, linking between these points, and how to put a capturing opening and conclusive closing of your speech. You will also learn how to use body language, vocal variety, include research information in some speeches, which really helps professionals wanting to do great presentation for their work etc. And you become better at it, over time. You can never learn this over a weekend intensive course or week long course. Once you go through the Toastmasters club, the process will stay with you forever - just like driving a car or bike. So save you money from these fraudsters and join Toastmasters International club, which has nearly 16,000 clubs worldwide. You will also learn to take leadership roles as these two skills go hand in hand. Check out: toastmasters.org and click on "Find a club".
 
Eric Ho uses uses a traditional sales technique as he takes you through an emotional ride by sharing his stories, and others stories, and then says that he wants to work with "entrepreneurs" and he is looking to "invest" in the right business and "collaborate" with them, and this makes you feel like signing up to his mentorship, and it could perhaps, provide that opportunity to launch your business. With that mindset, he lures you towards him and when he offers the "1-day only" sales offer, at the end of the seminar to sign up, you do it! But there is no plan, no accountability, no real business expertise provided, except FULL of motivational stuffs, which you can nowadays watch on YouTube and feel the same or better. All you get is his regular get together for dinner and drink (which you have to pay yourself btw), and again, his posts on YouTube video promotions with all the mentee group for marketing to show what a good time we are having. Who will rant or show sad face on the video (live)?
I was in a group, where there was single mothers and some of them borrowed money from their parents to sign up to Eric's mentorship so she can make her business successful. She promised to pay back to her parents but it never happened as her parents passed away, before she could make any money. And Eric didn't even share the 50% profit that she had generated through her sales i.e. webinar sign-up consulting therapy work, after getting some leads from one of the webinar Eric had sets up. It takes her 3 months to get her 50% share. She even cried in one of our meet ups and shared her story. Another lady, Psychologist, that signed up, she spoke on the Eric's stage few times, she was very happy, got her to give him fantastic testimonial, she changed her title to "international speaker", and time goes fast... soon it was 12-months and she was crying in one of Eric's seminar at the back stage because it only hit her that she hasn't made her money back but paid 12k! Eric saw her cry, he knew WHY! as others try to sooth her, but he went on the stage and did his gig! There was no remorse nor any sympathy...... yet he acts like he feeds those childred in Kenya! Oh by the way, it was told that this charity is not his set up... it was existing orphanage and they would work with anyone that give them donation and you can put that in your business as a social enterprise business. And why wouldn't they accept donation for such purpose?
 
Another mentee, similar type of business, didn't get anything i.e. 50% commission, so he stopped asking after few times and completely dis-engaged with Eric and stopped talking completely after about 6-months in the program.
 
Eric lied to another mentee suggesting that he will use his product in his existing business to collaborate with him and launh his product in his YoYo Noodles bars, which Eric supposedly owns. He signed up to it, but it never happened and when he asked to Eric about it, after few months of developing a product and brand, Eric simply said that he had already sold his noodle franchise business. So he can't help him! However, it turned out to be a plain lie as Eric still owned the business and he was participating in Franchise trade shows later that year. He still owns this YoYo Noodle franchise and can be easily seen in Google search.
 
Another mentee couldn't afford the fees, so she was called by their staff called Marcos from Wealth Dragon, a big spanish bull dog that looks like a bouncer but acts like a motivational guru himself until you miss 1-payment! He acted like a bully when she didn't pay on time and this mentee, was already in debt and Marcos advised her to take loans from her credit cards as she would easily recoup that money anyway from the program, and when she was unable to keep up the payment to Eric, after few months, she was instantly kicked out without any notice and blocked from the Wats App and Facebook group. That’s when we saw the real Eric Ho.., not so nice and kind as he appears to be on the stage and videos and showing off his charity work in Kenya... Oh yeah, once you are mentee, you will get a "special deal" to volunteer and go to Kenya with him to do this charity work and the price you pay on a special deal is much more expensive than you would have booked a ticket and accomodation and gone by yourself... Another "upsell" like his books, like the upcoming seminar tickets, some "hero" seminar, but the principal is same.. motivation and emotional roller coaster stories and "upsell" another product.. there were few guys who finished all their savings by keep buying into these programs.. One nurse lady, single, in her 50s, spent more than 30k in all of their seminars, combined with, mentorship, forex, property, public speaking etc.. all her life time saving, all that over time she did.... tut tut.
 
There is nothing special or no real expertise offered in business by Eric Ho because all the advice is generic and 90% are motivational. And since all motivational in YouTube videos are sourced from Napoleon Hill's Think and Grow Rich book and the Power of Law of Attraction book etc. The 99% of the motivational gurus use these techniques to elaborate and explain their stories and persuade and convince audience to excite and take action.. And take action you will, by paying £12,000 for 1-year of generic advice and about 5 to 7 appointment with him (since he is out of the country more than half of the year giving seminars)... so how can you meet him possibly even if you want to........ Have you ever noticed that 99% of his previous mentees are completely out of the picture or out of touch after 1-year... ever wonder why? Because it finally sinks into them that it was all bullsh!t and they lost their money! Deep down inside in their heart, they know they lost their money, and there was nothing they could do after 7-day no refund policy!
 
If you, readers, want a motivation then I suggest you go to the horse's mouth i.e. Tony Robbins who revolutionized this game. And it is unfair how Eric Ho and John Lee do it... because they excite audiences through emotional story telling method, where their seminars are held for 2-3 days, long hours, deliberately making the audience tired and making it harder for us to think clearly and decide carefully, and prompting audience to say "yes" to many of rhetorical questions and multiples "hi5" among audiences and then encourage audience by stating they want “joint venture”, “partnerships” with only few select entrepreneurs and the offer is for "today only" sale price, and saying how Eric is only looking for only few partners only so its not for everyone (making it sound exclusive)! And he only wants few mentees only because he already has few of them already... That makes it exclusive and people sign up..... but after few months in the next seminar, he says the same thing and sign more mentees... and from different countries and it all becomes one big "social" group... hence, he loses track in 1 to 1 meetings of your progress and business plan.... and offers motivational advices only.
 
The contract states that you cannot ask for refund after 7-days but its hard to know, for anyone, within 7-days, what value you are getting esp. when the guy is flying around the world giving seminars when, ideally, you want a business mentor that can support you and give your advice in the time of need and hardship, not while he is posting videos of his latest gadget and business flight travels, which you, the mentees, had funded!! The irony is that, Eric present himself as the best son in the world to his parents, giving his father and mother a luxury watches and presents, when his parents, DONT know that its funded by these mentees who have worked hard to save up their money all their life and are paying £12,000! And some have really struggled to put that money together. I recall after a day or two of the seminar, both John Lee and Eric Ho, challenges the audience to see if they can raise money from their banks, friends and families and challenges everyone to make phone call during lunch break and see how much they can possibly raise…… during that day, it stays like that…. But its only until tomorrow or last day, when the offer for the “sale price for today only” is given and subconsciously the audience feels confident to take this offer because they were able to get loans or friends/family were willing to lend them a day before... see the trick??? These guys are experts, professionals in stealing your money!!! Vipers! Snakes! A bad name to Chinese/ Oriental community! A rotten tomatoes in the basket affecting all.
 
They are not different to those gurus, cult leaders, who builds followers and eventually brainwashes then and manipulate them.. its same technique! Eric Ho and John Lee builds followers from YouTube videos showing off gadgets, good lifestyle and happy mentees videos then you end up going to their seminar and hearing their well crafted and devised speeches, do activities, and make you feel they are great people, a guru and then challenging you to raise the money (from friends and family) then hooking you to buy their “sale price for today only” products. And to suck more out of you, there are many upsell in the pipeline...!
 
I saw many old ladies, retired ones, in their 60s running at the back of the room to sign up for a “LIMITED PLACES” only offers – without reading any terms and conditions! Some were signing up for Forex to use their special trading method to make unlimited amount of money whilst trading for half an hour a day! A pictures are shown of people being happy and drinking coffee and trading and making money! I think I should tell my investment banker friend in Canary Wharf to bring all their banker friends and his bosses and learn to trade so they can make all the money in the world in half an hour.... they don't have to invest millions in their sophesticated softwares that trades in micro-seconds and are competing with other banks and institutional investors!! No offence, but what do these retired ladies do to out-beat the investor bankers that uses latest tools, softwares, factors in speculations, world economy, politics, wars, currency fluctuation etc. etc.. Many of these ladies are old enough to be Eric's and John's mother! No mercy, no remorse! One mentee was charged double the normal price because she asked for 6-months extension in the mentorship, and she could not say anything about it..... but she shared her disappointment with us in the group.
 
Please people save your money, and if you are really need inspiration to do business then know one thing for sure...... all these types of motivation seminars are almost bullsh!t! If not ask any real business leaders from Fortune 500 or FTSE 250 companes...... and they will tell you what it really takes, and how competitive, dog eat dog world is out there...... thus the motivation part is only 5% of the business, the other 95% is pure hard work, grit, effort and sleepless nights......... to make it successful. Even that doesn't guarantee it! Almost every industry and sector have very high competition and innovations are quite rare, infrequent, and mainly big companies that invests heavily in Research & Development create it.... The money you need to invest to start the business costs almost double than your initial projection, and it takes twice a long than expected. You are alone, often questioning your own insanity at times, friends almost misunderstands you.... and once you have built your product or brand, then only you realise, you need more money to market it... and without marketing, there is no exposure and no one knows about it... so when you factor it all, the 12k you paid Eric Ho for motivation, was the money that you could have used for building your own business and marketing it...... now you are more broke than before and lack of money de-motivates and stops you from continuing to work on your start-up business. So not only Eric Ho has stolen your money but he has killed your dreams!
 
Please note, motivation gives you energy for temporary time only, maybe a month or two, then you go back to “default” that have built in you since your childhood! So how can one-off 2/3 days seminar change your “default”? It’s like trying to change a habit overnight. Can you? So, you can only change your “default” by consistently grinding through hard times and persevering and pushing through rejections and hard times... and having insatiable desire and hunger to succeed.. thus, only only few makes it? But if you need motivation, just go to the horse's mouth i.e. Tony Robbins who is probably best in the business. Not liars and hypocrite like Eric Ho and John Lee.
 
And if you really need mentor, you need go to real experts, which you can easily find on LinkedIn, industry publications, and surely you won’t have to pay 12k!!! You need experts from the industry you want to specialise in, and have contacts and networks with industry leaders, and can help you to raise finance, and be focused in you as much as you are working on your business, they push you, ask you hard questions, even gives you hard times and sometimes you hate him/her but after getting the results you want... you respect them! Thats the kind of mentor you want... what will Eric Ho and John Lee tell you? Motivate you? what about rest of the 95% grit. They hardly talk about it.. Can they introduce you to any Venture Capitalist? or Private Equity firm or Financial Institutions? Those professionals dislike motivational speakers and don’t even allow them in their circle, believe me! If you want join prestigious business clubs in London, check out London's Capital Club, Club house london, De Amstel Club, etc... and these clubs dont allow motivational gurus, if they find out they are trying to sell seminars or books etc, they are booted out! some clubs asks for your business’s revenue before joining... And these are the clubs where PE firms, VC, bankers, advisory firms i.e. 'Big 4' and 'Magic circle' professionals hang out! This is where you meet real business contacts! This is where you need to be, so they can pull you up to their bracket... not someone who is in your bracket and you have to pay 12k! Motivational gurus like Eric and John wont be allowed near that circle. They will be a laughing stock! Eric and John is just trying to ride off what Tony Robbins have achieved. He is one-off! I remember they said they want to go IPO on stock market! A motivational seminar company on stock market? In which security exchange? In Mars? What investment bank will represent them? In fact, their business is not sustaible in long term because anyone can be a motivational speaker with NLP courses and reading 100s of motivational books out there... you dont need any qualification! Thus, they are all over the YouTube now and ERic Ho and John Lee is getting competition, whether they like it or not!
 
So, find real expertise who can link you to bankers, lawyers, accountants, leading marketer, entrepreneurs.. NOT motivational speakers that post videos flashing their bling bling 3-5 times a day like a teenager! In fact, its so immature! I mean, Eric is like in his mid-30s and his girlfriend Marta (white girl) was a seminar attendee and Eric dumped his then girlfriend Jamie for Marta. And before Marta, the left Jamie for another attendee, her name is Trinity. But when she found out Eric was dating another seminar attendee Anna (with blond hair) she dumped him! All these girls pictures are in his FB, Insta, if you go back time... What’s sad is that Jamie still works for him, H Akademy, and have to face Eric and his new girlfriend... And Eric Ho has the heart to face her everyday with his new girlfriend in the same place. Its all over their social media... its sad! But that should tell you the credibility of the guy that you have to pay 12k!! Of course, I only came to know this all after a 1-year mentorship program and Eric was publicly (In Wats App group) arguing and fighting with another girl called Jadey, who worked for him but she left after realising everything...
A challenge will be find out how well his mentees have done in their business, besides the YouTube video testimonials, since they had taken up his program.. its hard to know their revenuce increase after few months of the program, so their company's financial statement before and after the program should be compared and validated.. Of course no one would do that... Any previous mentees up for that challenge? Well all his mentees disappear after 12 months and new arrivals are excited and buzzing every year… until they cool off at the end of the year, get kicked out from Wats App and FB group……… I hope some of those new mentee reads this and realises how it works with these con artists... Eric Ho is a fraud!
submitted by paulhorne22 to u/paulhorne22 [link] [comments]

I made a list of resources for beginners and experienced traders alike.

Check back often as this is regularly updated.
Price Action Attack Map N/A ------------------------------
http://www.forexfactory.com/showthread.php?t=520423 FXLester's guide to price action
http://www.forexfactory.com/showthread.php?t=2331 James16's guide to price action
http://forums.babypips.com/free-forex-trading-systems/58037-price-action-matters.html "Price Action That Matters by Aaron Kruger
https://www.forex4noobs.com/ Forex 4 noobs price action battle plan!
GAMES N/A ------------------------------------------------------
http://chartgame.com/ Personally, i think this is pure genius! I love it, it's an amazing way to brush up on your chart skills and it's actually pretty cool to see how things went. It throws a random chart at you and you have to day trade it, it'll tell you how you did versus a buy & hold strategy and... well it's just really really good!
BLOGS N/A -------------------------------------------------------------------------------------------
https://jkonfx.com/ Technical & fundamental news on currencies. I would advise newer traders not to trade solely on external opinions because that won't cement your own methodology or reasons for trading. Excellent website for if you want an overview of the markets and daily reports. Also includes a trading journal and a lot of media attention.
http://www.stocktradingtogo.com/ A good blog for new traders/ investors. Lot of ‘top 10 lists’ to flick through.
http://www.tradingheroes.com/ This is absolutely amazing! I can't put a value on this! It's one of the best gems of the internet. Podcasts interviewing successful traders, some are notable such as 50pips, Walter Peters & Chris Kapre.
http://www.nobrainertrades.com/ Found this when doing the podcast link below, it's actually really good high quality stuff. Blog based with plenty of educational material.
http://www.chatwithtraders.com A weekly podcast that interviews successful traders. Thank you gumballfrank for this.
http://ftp.traderkingdom.com/ Not had much of a chance to check this out, but first impression are nice!
http://www.forexlive.com Heavily oriented towards fundamentals. Good news portal submitted by WinterTires thanks!
http://www.tradeciety.com/ Heavily visually oriented perfect for beginners! Lots of infographics and info. Submitted by gumballfrank
http://orderflowforex.com/ A blog that focuses on Personal Development as a trader. Absolutely essential. It'll help to focus you on your journey to trading omnipotence!
ONLINE SCHOOLS & LEARNING PORTALS N/A -------------------------------------------------------------------------------
http://theinnercircletrader.com/Tutorials.htm Best tutorials in the world by a secret trillionaire.
http://www.tradimo.com A superb website dedicated to training people to become better investors traders for free.
http://www.babypips.com One of the best free online schools which tracks your progress and teaches you heaps on information. The forum is the gem, where many people keep trade journals and put up their strategies. Don't copy them but borrowing concepts and ideas is good.
http://www.forexpeacearmy.com/forex-forum/forex-military-school-complete-forex-education-pro-banke Unbelievably thorough! Education on forex trading, literally everything is covered.
http://stockcharts.com/school/doku.php?id=chart_school Very wide ranging resource that focuses mainly on technical analysis.
http://www.investopedia.com This should be a given, but seriously – this place is the Wikipedia of trading/ investing.
http://www.swing-trade-stocks.com/swing-trading-basics.html Actually a really good learning resource that mentions psychology and momentum among other things.
http://thepatternsite.com/Psychology.html Really good information on trading psychology – something that often goes unnoticed with beginners.
http://www.finvids.com/ Cool little website with videos on candle patterns and chart patterns.
http://www.fxacademy.com/ Appears to be a free trading academy. Not tried it personally, but it looks really good. With plenty of videos for visual learners.
http://forex-strategies-revealed.com/intro PEOPLE IN NEED OF A STRATEGY CHECK THIS OUT List of strategies, literally everyone you'll ever need.
ARTICLES OF INTEREST N/A -----------------------------------------------------------------------------
http://orderflowforex.com/2014/11/trading-books-proper-orde There's a lot of information out there, it's overwhelming. You might think "Where the hell do I start?!" well here's your answer! The books you have to read... and in what order! Super important for beginners.
http://www.stocktradingtogo.com/2009/05/14/trading-psychology-stages-investor-emotions/ An article on the ’14 stages of investor emotions’ knowing who you are and what is happening to you can lead you to make more calculated decisions.
http://fourhourworkweek.com/2014/10/15/money-master-the-game/ Tim Ferris, author of The 4 Hour Work Week interviews Tony Robbins to find out the success behind the worlds best investors. Talking about morning routines, peak performance & mastering money!
http://www.tradeciety.com/category/trading-blog/ Best trading & investing blogs and articles as picked by tradeciety.com
http://www.forextradetracker.com/blog/understanding-forex-jargon-a-glossary-for-beginners Forex jargon glossary for beginners. Submitted by gumballfrank
http://orderflowforex.com/order-flow-trading/what-is-order-flow-trading/ What is order flow trading? Essential for beginners
FORUMS N/A -------------------------------------------------------------------------------------------------
http://www.forexpeacearmy.com/ Excellent learning resource, main focus is to help avoid people getting scammed.
http://www.trade2win.com/boards/ Massive forum for beginners to talk to more experienced traders – very active community.
http://www.forexfactory.com/forum.php Much like trade2win but more focused towards forex.
http://forums.babypips.com/ Another forum dedicated to forex traders. You'll find people keeping good strategies here, list them via most views first to find the real gems.
MISCELLANEOUS RESOURCES N/A --------------------------------------------------------------------
http://www.forexfactory.com/showthread.php?t=520423 Some beast called Lester showing you how it is! Read this!
http://theinnercircletrader.com/Tutorials.htm If you watch all of these you're already a millionaire!
http://www.forex-warez.com/Free%20Download/ Every book you could ever want on trading, investing, market psychology, strategies etc.
http://www.forextradetracker.com/ SUPER IMPORTANT This website is paramount to your success, still in development but will provide users with an easy way to document trades. Success is determined by your willingness to follow through with the boring bits so keep this one in your bookmarks.
http://www.hotcandlestick.com/candlestick-pattern-flashcard-game.html Super useful Flashcard game that helps you to remember important candlestick patterns.
http://www.hotcandlestick.com/forex_charts.htm Important candlestick patterns that have appeared on the major currency pairs. Good for a quick overview.
http://www.freeonlinetradingeducation.com/chart-school.html Website offering visual illustration & practical applications of popular candlestick patterns.
http://www.hotcandlestick.com/candles.htm Glossary of candlestick patterns.
http://www.incrediblecharts.com/topic/Technical_Analysis Another resource for learning technical analysis. Not particularly thorough but useful for basic concepts.
http://www.forexschoolonline.com/ Market overviews and trading opportunity videos provided, along with educational videos and the like.
http://www.tradersdna.com/education/ Another trading education site focusing more on forex.
Edit - I've spent about 2 hours making this now. I hope you guys find it useful! I'll continue to update it and may you all find trading success. If you want to help me out spread the link! put it on forums or share it with friends. Good luck to you all and happy trading!
Edit 2 - My brain is fryed... time for a rest.
Edit 3 Once I've categorized this post making it easier to navigate i'll be adding books to read, videos to watch & the traders that will help on your journey to self-sufficiency. Happy trading everybody!
Edit 4 Moved the podcasts into the comments so there is more room here for extra sites.
submitted by Dannyboi93 to Forex [link] [comments]

ERIC HO

This post was created as I felt compelled to share my experience with Eric Ho's mentorship program that I'd signed up to, along with about 10 other mentees and paid £12,000 each for 1-year program. To provide authenticity of my account, I have provided PROOF of the receipt, plus his "up sell" to other programs, and how he boots people out at the end and there is no more contacts with him whatsoever. I have also found other website, where people have complaining and have lost money, like I had done. I will post the link below in the message, and it shows Eric Ho's company details from Gov.uk's Companies House, which are not worth what he claims, in fact many are in debt & closed down..
 
Here, I CHALLENGE Eric Ho to comment below this post if he thinks this is an unfair account, as he commented on his Facebook saying how this is not a true reflection of his program... I can provide PROOFs of all the accounts & experience detailed here, from other ex-mentees and how we'd all suffered and lost our savings, with no real value in the end... and if I can provide these proofs, will Eric Ho refund all our payments? Come on Eric Ho, I challenge you.. If you are honest, you should be able to take up this challenge than just comment in your FB..
 
First, see a link below, for the proof that I was his ex-mentee, so my details below comes from after going through his mentorship program, and it shows further proofs of "up sell", and how he booted everyone out in the end, and how we were only given 7-days to ask for our refund or else your payment is vanished!! And how is anyone suppose to know within 7-days that the mentorship was not a valuable program and it was full of "motivation" rally within a week of signing up?? See: https://drive.google.com/open?id=1QT9POxakgkIrXFEQN8uS4VqtEcD08F89
  See other people complain about Eric Ho's scam, and John Lee, and their method, which is just telling stories after stories and showing pictures of their success and cars (some outside the car show room) and claiming to be very successful, when they are not... company house record shows average financial statement.. https://www.propertytribes.com/eric-ho-t-127631542.html
 
Eric Hor, was introduced in one of John Lee's of Wealth Dragon seminar. There were bunch of us in the mentee group, mainly women who seemed vulnerable and naive i.e single mothers and old ladies. Eric Ho operates from his website, erichoofficial.com & hakademy.com.
 
Eric Ho promised a lots of things prior to signing up to his program and he promised all the mentees that he would help them to launch their business and in many cases, collaborate with his existing business and provide a platform and contacts to leverage our business... hence, paying £12,000 is worth it, in fact its cheap! However, it was far from that.. It became obvious after a few months, and until this point, it was all "motivational" stuffs i.e. meeting up with the group of mentees for dinner and drinks after one of his seminars in London and during these meet ups it was mainly him posting live videos on YouTube with bunch of mentees for his own marketing campaign (to show people what a good time we are all having and to get Likes and Shares). However, secretly many of his mentees were suffering as we forked out £1000 monthly towards his program and it was costing us more than our monthly mortgage payment!
 
Time goes fast, you set appointment with Eric whenever he is in London, but he sees all of his mentees after his 2-3 days seminar, where he is tired after long event, so it's rushed through as only 30mins appointment, and given generic advices and he is seeing mentees one after another.. During this appointments you go there and wait, he is talking to another mentee, then your turn comes, as you start the meeting, you see the anotehr mentee waiting for you to finish the meeting... so Eric Ho is in a rush to see you off. Hence, advices are given on the spot... He even forgets the last conversation you've had with him and repeats many comments / feedback that was given in the last appointment, as he sees all the mentees + new followers (to sign them up for his program) on that day... the new followers are far more important to him as they are a potential leads for another 12k per person and since we've already paid our fees and locked in the contract... we are a less priority for him. He forgets the action plan you had discussed with him in the last meeting and its clear that he cannot keep track of all his mentees seeing one after another after his long 2-3 days seminar event... He is very tired and gives you generic marketing advice. And when you make progress or need some suggestions from Eric Ho, our "mentor", he is out out of the country, somewhere overseas, posting videos from the beach about his luxurious lifestyle, flying business class flights and showing off his latest branded watch! and you are there stuck and unable to contact him or in the best case you receive a messages on Wats App. And that’s all...
 
You wait for him to return, but then you see another video from another part of the world, again, marketing himself and his seminars, and his new gadgets or a catchy video title and image of him and his latest girlfriend. Talking about his girlfriend.. he keeps using them in his video, to get likes and views, then after a year or so, there's a new girl and the old one is never seen again! And his new girlfriends are the seminar audience! At this time you start to doubt if Eric is serious about business. A true business man, a mentor should be there for you and know and care abot your business as much as you do.... not posting 5 videos, and 10 selfie a day! Think about it people.. his mind is occupied by social media posts and videos, and all he wants is NEW leads so he can generate additional fees... once you have paid, you are yesterdays newspaper to him..... You true business personnel dont act like this i.e. Fortune 500 companies executives, FTSE 250 leaders don’t act like a child showing off their new toys on a social media with his cars, watches, house etc.. Its unbearable as you begin to wonder that your payment is actually funding his lifestyle and his latest gadgets, and you are cant even reach him!
 
You begin to wonder and talk to other mentees and they all feel the same but no one dares to confront him as he is "so nice" and always so "positive" talking about "motivational stuffs", a sage, guru, who acts like one of those religious cult figures that brain washes people and builds up followers for his ulterior motive. The key here is, get likes and shares from Facebook, Insta, YouTube etc.. then get them to attend the seminar and then use classical sales technique i.e. "one day offer only" and sign them up for 12 months contract, where you can only ask for refund within 7 days (terms) and its impossible to know that you wont get any value within 7 days, so now you are locked in the contract and if you miss payment, Eric Ho and John Lee (Wealth Dragon) will send you red letter to take you to Debt Recovery and send bailiff to your house... and they have in-house lawyers workling for them, who emails you warning you of the consequences.... then you get worried and also have no time to go to the court and pay additional fee to solicitors not knowing you might lose more money because you have signed the contract... so you keep quite and pay the 12k!!! "Its numbers game" as they say... for example, get 100 likes and views, from that, get 20 people to seminar, then get 1 person to sign up and lock in 12 months contract... thats 12k! Now multiply this by few hundreds and thousands, then there you have it.. About 30-40 mentees a year, plus now "UP SELL" their other products, i.e. Public speaking, Forex, Property investments, Heath & Fitness, Spiritual mind etc.... thats their game! And make you bankrupt!!
 
By the way, if you want to learn Public Speaking, then just join your local Toastmasters club, where you will only pay between £50-£60 for 6 months!! with every 2 x weeks meetings, it will cost you more or less the same price of a coffee/tea per meeting. Toastmasters is everywhere, almost in every country. I have now completed almost my 10th speech. One thing about Public speaking is, its not a skill you obtained by attending a weekend or week long training that Eric Hor and John Lee is offering.. you must attend regularly every 2-3 weeks, even if you miss some meetings (that don't matter), to develop your skills. It's developed and built over time - not by attending short trainings on weekends or week-long program paying thousands of pounds/dollars. So dont be fool, don't pay Eric Hor and John Lee. Public speaking skills is like any other skills you learn, whether sports, or your regular exercise. If you stop going to gym for few months... what happens? Same with public speaking... you must attend regularly for at least 6-months to a 1-year.. then you develop skills + see other speakers do it, which you will pick up subconsciously, and when you step up to do your speech.. you will naturally exhibit skills (that you had picked up by watching other speakers on a regular basis by going to these meetings).. also, for every speech, you are given a detailed guide, as to how to structure it i.e. bullet points, linking between these points, and how to put a capturing opening and conclusive closing of your speech. You will also learn how to use body language, vocal variety, include research information in some speeches, which really helps professionals wanting to do great presentation for their work etc. And you become better at it, over time. You can never learn this over a weekend intensive course or week long course. Once you go through the Toastmasters club, the process will stay with you forever - just like driving a car or bike. So save you money from these fraudsters and join Toastmasters International club, which has nearly 16,000 clubs worldwide. You will also learn to take leadership roles as these two skills go hand in hand. Check out: toastmasters.org and click on "Find a club".
 
Eric Ho uses uses a traditional sales technique as he takes you through an emotional ride by sharing his stories, and others stories, and then says that he wants to work with "entrepreneurs" and he is looking to "invest" in the right business and "collaborate" with them, and this makes you feel like signing up to his mentorship, and it could perhaps, provide that opportunity to launch your business. With that mindset, he lures you towards him and when he offers the "1-day only" sales offer, at the end of the seminar to sign up, you do it! But there is no plan, no accountability, no real business expertise provided, except FULL of motivational stuffs, which you can nowadays watch on YouTube and feel the same or better. All you get is his regular get together for dinner and drink (which you have to pay yourself btw), and again, his posts on YouTube video promotions with all the mentee group for marketing to show what a good time we are having. Who will rant or show sad face on the video (live)?
I was in a group, where there was single mothers and some of them borrowed money from their parents to sign up to Eric's mentorship so she can make her business successful. She promised to pay back to her parents but it never happened as her parents passed away, before she could make any money. And Eric didn't even share the 50% profit that she had generated through her sales i.e. webinar sign-up consulting therapy work, after getting some leads from one of the webinar Eric had sets up. It takes her 3 months to get her 50% share. She even cried in one of our meet ups and shared her story. Another lady, Psychologist, that signed up, she spoke on the Eric's stage few times, she was very happy, got her to give him fantastic testimonial, she changed her title to "international speaker", and time goes fast... soon it was 12-months and she was crying in one of Eric's seminar at the back stage because it only hit her that she hasn't made her money back but paid 12k! Eric saw her cry, he knew WHY! as others try to sooth her, but he went on the stage and did his gig! There was no remorse nor any sympathy...... yet he acts like he feeds those childred in Kenya! Oh by the way, it was told that this charity is not his set up... it was existing orphanage and they would work with anyone that give them donation and you can put that in your business as a social enterprise business. And why wouldn't they accept donation for such purpose?
 
Another mentee, similar type of business, didn't get anything i.e. 50% commission, so he stopped asking after few times and completely dis-engaged with Eric and stopped talking completely after about 6-months in the program.
 
Eric lied to another mentee suggesting that he will use his product in his existing business to collaborate with him and launh his product in his YoYo Noodles bars, which Eric supposedly owns. He signed up to it, but it never happened and when he asked to Eric about it, after few months of developing a product and brand, Eric simply said that he had already sold his noodle franchise business. So he can't help him! However, it turned out to be a plain lie as Eric still owned the business and he was participating in Franchise trade shows later that year. He still owns this YoYo Noodle franchise and can be easily seen in Google search.
 
Another mentee couldn't afford the fees, so she was called by their staff called Marcos from Wealth Dragon, a big spanish bull dog that looks like a bouncer but acts like a motivational guru himself until you miss 1-payment! He acted like a bully when she didn't pay on time and this mentee, was already in debt and Marcos advised her to take loans from her credit cards as she would easily recoup that money anyway from the program, and when she was unable to keep up the payment to Eric, after few months, she was instantly kicked out without any notice and blocked from the Wats App and Facebook group. That’s when we saw the real Eric Ho.., not so nice and kind as he appears to be on the stage and videos and showing off his charity work in Kenya... Oh yeah, once you are mentee, you will get a "special deal" to volunteer and go to Kenya with him to do this charity work and the price you pay on a special deal is much more expensive than you would have booked a ticket and accomodation and gone by yourself... Another "upsell" like his books, like the upcoming seminar tickets, some "hero" seminar, but the principal is same.. motivation and emotional roller coaster stories and "upsell" another product.. there were few guys who finished all their savings by keep buying into these programs.. One nurse lady, single, in her 50s, spent more than 30k in all of their seminars, combined with, mentorship, forex, property, public speaking etc.. all her life time saving, all that over time she did.... tut tut.
 
There is nothing special or no real expertise offered in business by Eric Ho because all the advice is generic and 90% are motivational. And since all motivational in YouTube videos are sourced from Napoleon Hill's Think and Grow Rich book and the Power of Law of Attraction book etc. The 99% of the motivational gurus use these techniques to elaborate and explain their stories and persuade and convince audience to excite and take action.. And take action you will, by paying £12,000 for 1-year of generic advice and about 5 to 7 appointment with him (since he is out of the country more than half of the year giving seminars)... so how can you meet him possibly even if you want to........ Have you ever noticed that 99% of his previous mentees are completely out of the picture or out of touch after 1-year... ever wonder why? Because it finally sinks into them that it was all bullsh!t and they lost their money! Deep down inside in their heart, they know they lost their money, and there was nothing they could do after 7-day no refund policy!
 
If you, readers, want a motivation then I suggest you go to the horse's mouth i.e. Tony Robbins who revolutionized this game. And it is unfair how Eric Ho and John Lee do it... because they excite audiences through emotional story telling method, where their seminars are held for 2-3 days, long hours, deliberately making the audience tired and making it harder for us to think clearly and decide carefully, and prompting audience to say "yes" to many of rhetorical questions and multiples "hi5" among audiences and then encourage audience by stating they want “joint venture”, “partnerships” with only few select entrepreneurs and the offer is for "today only" sale price, and saying how Eric is only looking for only few partners only so its not for everyone (making it sound exclusive)! And he only wants few mentees only because he already has few of them already... That makes it exclusive and people sign up..... but after few months in the next seminar, he says the same thing and sign more mentees... and from different countries and it all becomes one big "social" group... hence, he loses track in 1 to 1 meetings of your progress and business plan.... and offers motivational advices only.
 
The contract states that you cannot ask for refund after 7-days but its hard to know, for anyone, within 7-days, what value you are getting esp. when the guy is flying around the world giving seminars when, ideally, you want a business mentor that can support you and give your advice in the time of need and hardship, not while he is posting videos of his latest gadget and business flight travels, which you, the mentees, had funded!! The irony is that, Eric present himself as the best son in the world to his parents, giving his father and mother a luxury watches and presents, when his parents, DONT know that its funded by these mentees who have worked hard to save up their money all their life and are paying £12,000! And some have really struggled to put that money together. I recall after a day or two of the seminar, both John Lee and Eric Ho, challenges the audience to see if they can raise money from their banks, friends and families and challenges everyone to make phone call during lunch break and see how much they can possibly raise…… during that day, it stays like that…. But its only until tomorrow or last day, when the offer for the “sale price for today only” is given and subconsciously the audience feels confident to take this offer because they were able to get loans or friends/family were willing to lend them a day before... see the trick??? These guys are experts, professionals in stealing your money!!! Vipers! Snakes! A bad name to Chinese/ Oriental community! A rotten tomatoes in the basket affecting all.
 
They are not different to those gurus, cult leaders, who builds followers and eventually brainwashes then and manipulate them.. its same technique! Eric Ho and John Lee builds followers from YouTube videos showing off gadgets, good lifestyle and happy mentees videos then you end up going to their seminar and hearing their well crafted and devised speeches, do activities, and make you feel they are great people, a guru and then challenging you to raise the money (from friends and family) then hooking you to buy their “sale price for today only” products. And to suck more out of you, there are many upsell in the pipeline...!
 
I saw many old ladies, retired ones, in their 60s running at the back of the room to sign up for a “LIMITED PLACES” only offers – without reading any terms and conditions! Some were signing up for Forex to use their special trading method to make unlimited amount of money whilst trading for half an hour a day! A pictures are shown of people being happy and drinking coffee and trading and making money! I think I should tell my investment banker friend in Canary Wharf to bring all their banker friends and his bosses and learn to trade so they can make all the money in the world in half an hour.... they don't have to invest millions in their sophesticated softwares that trades in micro-seconds and are competing with other banks and institutional investors!! No offence, but what do these retired ladies do to out-beat the investor bankers that uses latest tools, softwares, factors in speculations, world economy, politics, wars, currency fluctuation etc. etc.. Many of these ladies are old enough to be Eric's and John's mother! No mercy, no remorse! One mentee was charged double the normal price because she asked for 6-months extension in the mentorship, and she could not say anything about it..... but she shared her disappointment with us in the group.
 
Please people save your money, and if you are really need inspiration to do business then know one thing for sure...... all these types of motivation seminars are almost bullsh!t! If not ask any real business leaders from Fortune 500 or FTSE 250 companes...... and they will tell you what it really takes, and how competitive, dog eat dog world is out there...... thus the motivation part is only 5% of the business, the other 95% is pure hard work, grit, effort and sleepless nights......... to make it successful. Even that doesn't guarantee it! Almost every industry and sector have very high competition and innovations are quite rare, infrequent, and mainly big companies that invests heavily in Research & Development create it.... The money you need to invest to start the business costs almost double than your initial projection, and it takes twice a long than expected. You are alone, often questioning your own insanity at times, friends almost misunderstands you.... and once you have built your product or brand, then only you realise, you need more money to market it... and without marketing, there is no exposure and no one knows about it... so when you factor it all, the 12k you paid Eric Ho for motivation, was the money that you could have used for building your own business and marketing it...... now you are more broke than before and lack of money de-motivates and stops you from continuing to work on your start-up business. So not only Eric Ho has stolen your money but he has killed your dreams!
 
Please note, motivation gives you energy for temporary time only, maybe a month or two, then you go back to “default” that have built in you since your childhood! So how can one-off 2/3 days seminar change your “default”? It’s like trying to change a habit overnight. Can you? So, you can only change your “default” by consistently grinding through hard times and persevering and pushing through rejections and hard times... and having insatiable desire and hunger to succeed.. thus, only only few makes it? But if you need motivation, just go to the horse's mouth i.e. Tony Robbins who is probably best in the business. Not liars and hypocrite like Eric Ho and John Lee.
 
And if you really need mentor, you need go to real experts, which you can easily find on LinkedIn, industry publications, and surely you won’t have to pay 12k!!! You need experts from the industry you want to specialise in, and have contacts and networks with industry leaders, and can help you to raise finance, and be focused in you as much as you are working on your business, they push you, ask you hard questions, even gives you hard times and sometimes you hate him/her but after getting the results you want... you respect them! Thats the kind of mentor you want... what will Eric Ho and John Lee tell you? Motivate you? what about rest of the 95% grit. They hardly talk about it.. Can they introduce you to any Venture Capitalist? or Private Equity firm or Financial Institutions? Those professionals dislike motivational speakers and don’t even allow them in their circle, believe me! If you want join prestigious business clubs in London, check out London's Capital Club, Club house london, De Amstel Club, etc... and these clubs dont allow motivational gurus, if they find out they are trying to sell seminars or books etc, they are booted out! some clubs asks for your business’s revenue before joining... And these are the clubs where PE firms, VC, bankers, advisory firms i.e. 'Big 4' and 'Magic circle' professionals hang out! This is where you meet real business contacts! This is where you need to be, so they can pull you up to their bracket... not someone who is in your bracket and you have to pay 12k! Motivational gurus like Eric and John wont be allowed near that circle. They will be a laughing stock! Eric and John is just trying to ride off what Tony Robbins have achieved. He is one-off! I remember they said they want to go IPO on stock market! A motivational seminar company on stock market? In which security exchange? In Mars? What investment bank will represent them? In fact, their business is not sustaible in long term because anyone can be a motivational speaker with NLP courses and reading 100s of motivational books out there... you dont need any qualification! Thus, they are all over the YouTube now and ERic Ho and John Lee is getting competition, whether they like it or not!
 
So, find real expertise who can link you to bankers, lawyers, accountants, leading marketer, entrepreneurs.. NOT motivational speakers that post videos flashing their bling bling 3-5 times a day like a teenager! In fact, its so immature! I mean, Eric is like in his mid-30s and his girlfriend Marta (white girl) was a seminar attendee and Eric dumped his then girlfriend Jamie for Marta. And before Marta, the left Jamie for another attendee, her name is Trinity. But when she found out Eric was dating another seminar attendee Anna (with blond hair) she dumped him! All these girls pictures are in his FB, Insta, if you go back time... What’s sad is that Jamie still works for him, H Akademy, and have to face Eric and his new girlfriend... And Eric Ho has the heart to face her everyday with his new girlfriend in the same place. Its all over their social media... its sad! But that should tell you the credibility of the guy that you have to pay 12k!! Of course, I only came to know this all after a 1-year mentorship program and Eric was publicly (In Wats App group) arguing and fighting with another girl called Jadey, who worked for him but she left after realising everything...
A challenge will be find out how well his mentees have done in their business, besides the YouTube video testimonials, since they had taken up his program.. its hard to know their revenuce increase after few months of the program, so their company's financial statement before and after the program should be compared and validated.. Of course no one would do that... Any previous mentees up for that challenge? Well all his mentees disappear after 12 months and new arrivals are excited and buzzing every year… until they cool off at the end of the year, get kicked out from Wats App and FB group……… I hope some of those new mentee reads this and realises how it works with these con artists... Eric Ho is a fraud!
submitted by paulhorne22 to u/paulhorne22 [link] [comments]

ERIC HO REVIEW

This post was created as I felt compelled to share my experience with Eric Ho's mentorship program that I'd signed up to, along with about 10 other mentees and paid £12,000 each for 1-year program. To provide authenticity of my account, I have provided PROOF of the receipt, plus his "up sell" to other programs, and how he boots people out at the end and there is no more contacts with him whatsoever. I have also found other website, where people have complaining and have lost money, like I had done. I will post the link below in the message, and it shows Eric Ho's company details from Gov.uk's Companies House, which are not worth what he claims, in fact many are in debt & closed down..
 
Here, I CHALLENGE Eric Ho to comment below this post if he thinks this is an unfair account, as he commented on his Facebook saying how this is not a true reflection of his program... I can provide PROOFs of all the accounts & experience detailed here, from other ex-mentees and how we'd all suffered and lost our savings, with no real value in the end... and if I can provide these proofs, will Eric Ho refund all our payments? Come on Eric Ho, I challenge you.. If you are honest, you should be able to take up this challenge than just comment in your FB..
 
First, see a link below, for the proof that I was his ex-mentee, so my details below comes from after going through his mentorship program, and it shows further proofs of "up sell", and how he booted everyone out in the end, and how we were only given 7-days to ask for our refund or else your payment is vanished!! And how is anyone suppose to know within 7-days that the mentorship was not a valuable program and it was full of "motivation" rally within a week of signing up?? See: https://drive.google.com/open?id=1QT9POxakgkIrXFEQN8uS4VqtEcD08F89
  See other people complain about Eric Ho's scam, and John Lee, and their method, which is just telling stories after stories and showing pictures of their success and cars (some outside the car show room) and claiming to be very successful, when they are not... company house record shows average financial statement.. https://www.propertytribes.com/eric-ho-t-127631542.html
 
Eric Hor, was introduced in one of John Lee's of Wealth Dragon seminar. There were bunch of us in the mentee group, mainly women who seemed vulnerable and naive i.e single mothers and old ladies. Eric Ho operates from his website, erichoofficial.com & hakademy.com.
 
Eric Ho promised a lots of things prior to signing up to his program and he promised all the mentees that he would help them to launch their business and in many cases, collaborate with his existing business and provide a platform and contacts to leverage our business... hence, paying £12,000 is worth it, in fact its cheap! However, it was far from that.. It became obvious after a few months, and until this point, it was all "motivational" stuffs i.e. meeting up with the group of mentees for dinner and drinks after one of his seminars in London and during these meet ups it was mainly him posting live videos on YouTube with bunch of mentees for his own marketing campaign (to show people what a good time we are all having and to get Likes and Shares). However, secretly many of his mentees were suffering as we forked out £1000 monthly towards his program and it was costing us more than our monthly mortgage payment!
 
Time goes fast, you set appointment with Eric whenever he is in London, but he sees all of his mentees after his 2-3 days seminar, where he is tired after long event, so it's rushed through as only 30mins appointment, and given generic advices and he is seeing mentees one after another.. During this appointments you go there and wait, he is talking to another mentee, then your turn comes, as you start the meeting, you see the anotehr mentee waiting for you to finish the meeting... so Eric Ho is in a rush to see you off. Hence, advices are given on the spot... He even forgets the last conversation you've had with him and repeats many comments / feedback that was given in the last appointment, as he sees all the mentees + new followers (to sign them up for his program) on that day... the new followers are far more important to him as they are a potential leads for another 12k per person and since we've already paid our fees and locked in the contract... we are a less priority for him. He forgets the action plan you had discussed with him in the last meeting and its clear that he cannot keep track of all his mentees seeing one after another after his long 2-3 days seminar event... He is very tired and gives you generic marketing advice. And when you make progress or need some suggestions from Eric Ho, our "mentor", he is out out of the country, somewhere overseas, posting videos from the beach about his luxurious lifestyle, flying business class flights and showing off his latest branded watch! and you are there stuck and unable to contact him or in the best case you receive a messages on Wats App. And that’s all...
 
You wait for him to return, but then you see another video from another part of the world, again, marketing himself and his seminars, and his new gadgets or a catchy video title and image of him and his latest girlfriend. Talking about his girlfriend.. he keeps using them in his video, to get likes and views, then after a year or so, there's a new girl and the old one is never seen again! And his new girlfriends are the seminar audience! At this time you start to doubt if Eric is serious about business. A true business man, a mentor should be there for you and know and care abot your business as much as you do.... not posting 5 videos, and 10 selfie a day! Think about it people.. his mind is occupied by social media posts and videos, and all he wants is NEW leads so he can generate additional fees... once you have paid, you are yesterdays newspaper to him..... You true business personnel dont act like this i.e. Fortune 500 companies executives, FTSE 250 leaders don’t act like a child showing off their new toys on a social media with his cars, watches, house etc.. Its unbearable as you begin to wonder that your payment is actually funding his lifestyle and his latest gadgets, and you are cant even reach him!
 
You begin to wonder and talk to other mentees and they all feel the same but no one dares to confront him as he is "so nice" and always so "positive" talking about "motivational stuffs", a sage, guru, who acts like one of those religious cult figures that brain washes people and builds up followers for his ulterior motive. The key here is, get likes and shares from Facebook, Insta, YouTube etc.. then get them to attend the seminar and then use classical sales technique i.e. "one day offer only" and sign them up for 12 months contract, where you can only ask for refund within 7 days (terms) and its impossible to know that you wont get any value within 7 days, so now you are locked in the contract and if you miss payment, Eric Ho and John Lee (Wealth Dragon) will send you red letter to take you to Debt Recovery and send bailiff to your house... and they have in-house lawyers workling for them, who emails you warning you of the consequences.... then you get worried and also have no time to go to the court and pay additional fee to solicitors not knowing you might lose more money because you have signed the contract... so you keep quite and pay the 12k!!! "Its numbers game" as they say... for example, get 100 likes and views, from that, get 20 people to seminar, then get 1 person to sign up and lock in 12 months contract... thats 12k! Now multiply this by few hundreds and thousands, then there you have it.. About 30-40 mentees a year, plus now "UP SELL" their other products, i.e. Public speaking, Forex, Property investments, Heath & Fitness, Spiritual mind etc.... thats their game! And make you bankrupt!!
 
By the way, if you want to learn Public Speaking, then just join your local Toastmasters club, where you will only pay between £50-£60 for 6 months!! with every 2 x weeks meetings, it will cost you more or less the same price of a coffee/tea per meeting. Toastmasters is everywhere, almost in every country. I have now completed almost my 10th speech. One thing about Public speaking is, its not a skill you obtained by attending a weekend or week long training that Eric Hor and John Lee is offering.. you must attend regularly every 2-3 weeks, even if you miss some meetings (that don't matter), to develop your skills. It's developed and built over time - not by attending short trainings on weekends or week-long program paying thousands of pounds/dollars. So dont be fool, don't pay Eric Hor and John Lee. Public speaking skills is like any other skills you learn, whether sports, or your regular exercise. If you stop going to gym for few months... what happens? Same with public speaking... you must attend regularly for at least 6-months to a 1-year.. then you develop skills + see other speakers do it, which you will pick up subconsciously, and when you step up to do your speech.. you will naturally exhibit skills (that you had picked up by watching other speakers on a regular basis by going to these meetings).. also, for every speech, you are given a detailed guide, as to how to structure it i.e. bullet points, linking between these points, and how to put a capturing opening and conclusive closing of your speech. You will also learn how to use body language, vocal variety, include research information in some speeches, which really helps professionals wanting to do great presentation for their work etc. And you become better at it, over time. You can never learn this over a weekend intensive course or week long course. Once you go through the Toastmasters club, the process will stay with you forever - just like driving a car or bike. So save you money from these fraudsters and join Toastmasters International club, which has nearly 16,000 clubs worldwide. You will also learn to take leadership roles as these two skills go hand in hand. Check out: toastmasters.org and click on "Find a club".
 
Eric Ho uses uses a traditional sales technique as he takes you through an emotional ride by sharing his stories, and others stories, and then says that he wants to work with "entrepreneurs" and he is looking to "invest" in the right business and "collaborate" with them, and this makes you feel like signing up to his mentorship, and it could perhaps, provide that opportunity to launch your business. With that mindset, he lures you towards him and when he offers the "1-day only" sales offer, at the end of the seminar to sign up, you do it! But there is no plan, no accountability, no real business expertise provided, except FULL of motivational stuffs, which you can nowadays watch on YouTube and feel the same or better. All you get is his regular get together for dinner and drink (which you have to pay yourself btw), and again, his posts on YouTube video promotions with all the mentee group for marketing to show what a good time we are having. Who will rant or show sad face on the video (live)?
I was in a group, where there was single mothers and some of them borrowed money from their parents to sign up to Eric's mentorship so she can make her business successful. She promised to pay back to her parents but it never happened as her parents passed away, before she could make any money. And Eric didn't even share the 50% profit that she had generated through her sales i.e. webinar sign-up consulting therapy work, after getting some leads from one of the webinar Eric had sets up. It takes her 3 months to get her 50% share. She even cried in one of our meet ups and shared her story. Another lady, Psychologist, that signed up, she spoke on the Eric's stage few times, she was very happy, got her to give him fantastic testimonial, she changed her title to "international speaker", and time goes fast... soon it was 12-months and she was crying in one of Eric's seminar at the back stage because it only hit her that she hasn't made her money back but paid 12k! Eric saw her cry, he knew WHY! as others try to sooth her, but he went on the stage and did his gig! There was no remorse nor any sympathy...... yet he acts like he feeds those childred in Kenya! Oh by the way, it was told that this charity is not his set up... it was existing orphanage and they would work with anyone that give them donation and you can put that in your business as a social enterprise business. And why wouldn't they accept donation for such purpose?
 
Another mentee, similar type of business, didn't get anything i.e. 50% commission, so he stopped asking after few times and completely dis-engaged with Eric and stopped talking completely after about 6-months in the program.
 
Eric lied to another mentee suggesting that he will use his product in his existing business to collaborate with him and launh his product in his YoYo Noodles bars, which Eric supposedly owns. He signed up to it, but it never happened and when he asked to Eric about it, after few months of developing a product and brand, Eric simply said that he had already sold his noodle franchise business. So he can't help him! However, it turned out to be a plain lie as Eric still owned the business and he was participating in Franchise trade shows later that year. He still owns this YoYo Noodle franchise and can be easily seen in Google search.
 
Another mentee couldn't afford the fees, so she was called by their staff called Marcos from Wealth Dragon, a big spanish bull dog that looks like a bouncer but acts like a motivational guru himself until you miss 1-payment! He acted like a bully when she didn't pay on time and this mentee, was already in debt and Marcos advised her to take loans from her credit cards as she would easily recoup that money anyway from the program, and when she was unable to keep up the payment to Eric, after few months, she was instantly kicked out without any notice and blocked from the Wats App and Facebook group. That’s when we saw the real Eric Ho.., not so nice and kind as he appears to be on the stage and videos and showing off his charity work in Kenya... Oh yeah, once you are mentee, you will get a "special deal" to volunteer and go to Kenya with him to do this charity work and the price you pay on a special deal is much more expensive than you would have booked a ticket and accomodation and gone by yourself... Another "upsell" like his books, like the upcoming seminar tickets, some "hero" seminar, but the principal is same.. motivation and emotional roller coaster stories and "upsell" another product.. there were few guys who finished all their savings by keep buying into these programs.. One nurse lady, single, in her 50s, spent more than 30k in all of their seminars, combined with, mentorship, forex, property, public speaking etc.. all her life time saving, all that over time she did.... tut tut.
 
There is nothing special or no real expertise offered in business by Eric Ho because all the advice is generic and 90% are motivational. And since all motivational in YouTube videos are sourced from Napoleon Hill's Think and Grow Rich book and the Power of Law of Attraction book etc. The 99% of the motivational gurus use these techniques to elaborate and explain their stories and persuade and convince audience to excite and take action.. And take action you will, by paying £12,000 for 1-year of generic advice and about 5 to 7 appointment with him (since he is out of the country more than half of the year giving seminars)... so how can you meet him possibly even if you want to........ Have you ever noticed that 99% of his previous mentees are completely out of the picture or out of touch after 1-year... ever wonder why? Because it finally sinks into them that it was all bullsh!t and they lost their money! Deep down inside in their heart, they know they lost their money, and there was nothing they could do after 7-day no refund policy!
 
If you, readers, want a motivation then I suggest you go to the horse's mouth i.e. Tony Robbins who revolutionized this game. And it is unfair how Eric Ho and John Lee do it... because they excite audiences through emotional story telling method, where their seminars are held for 2-3 days, long hours, deliberately making the audience tired and making it harder for us to think clearly and decide carefully, and prompting audience to say "yes" to many of rhetorical questions and multiples "hi5" among audiences and then encourage audience by stating they want “joint venture”, “partnerships” with only few select entrepreneurs and the offer is for "today only" sale price, and saying how Eric is only looking for only few partners only so its not for everyone (making it sound exclusive)! And he only wants few mentees only because he already has few of them already... That makes it exclusive and people sign up..... but after few months in the next seminar, he says the same thing and sign more mentees... and from different countries and it all becomes one big "social" group... hence, he loses track in 1 to 1 meetings of your progress and business plan.... and offers motivational advices only.
 
The contract states that you cannot ask for refund after 7-days but its hard to know, for anyone, within 7-days, what value you are getting esp. when the guy is flying around the world giving seminars when, ideally, you want a business mentor that can support you and give your advice in the time of need and hardship, not while he is posting videos of his latest gadget and business flight travels, which you, the mentees, had funded!! The irony is that, Eric present himself as the best son in the world to his parents, giving his father and mother a luxury watches and presents, when his parents, DONT know that its funded by these mentees who have worked hard to save up their money all their life and are paying £12,000! And some have really struggled to put that money together. I recall after a day or two of the seminar, both John Lee and Eric Ho, challenges the audience to see if they can raise money from their banks, friends and families and challenges everyone to make phone call during lunch break and see how much they can possibly raise…… during that day, it stays like that…. But its only until tomorrow or last day, when the offer for the “sale price for today only” is given and subconsciously the audience feels confident to take this offer because they were able to get loans or friends/family were willing to lend them a day before... see the trick??? These guys are experts, professionals in stealing your money!!! Vipers! Snakes! A bad name to Chinese/ Oriental community! A rotten tomatoes in the basket affecting all.
 
They are not different to those gurus, cult leaders, who builds followers and eventually brainwashes then and manipulate them.. its same technique! Eric Ho and John Lee builds followers from YouTube videos showing off gadgets, good lifestyle and happy mentees videos then you end up going to their seminar and hearing their well crafted and devised speeches, do activities, and make you feel they are great people, a guru and then challenging you to raise the money (from friends and family) then hooking you to buy their “sale price for today only” products. And to suck more out of you, there are many upsell in the pipeline...!
 
I saw many old ladies, retired ones, in their 60s running at the back of the room to sign up for a “LIMITED PLACES” only offers – without reading any terms and conditions! Some were signing up for Forex to use their special trading method to make unlimited amount of money whilst trading for half an hour a day! A pictures are shown of people being happy and drinking coffee and trading and making money! I think I should tell my investment banker friend in Canary Wharf to bring all their banker friends and his bosses and learn to trade so they can make all the money in the world in half an hour.... they don't have to invest millions in their sophesticated softwares that trades in micro-seconds and are competing with other banks and institutional investors!! No offence, but what do these retired ladies do to out-beat the investor bankers that uses latest tools, softwares, factors in speculations, world economy, politics, wars, currency fluctuation etc. etc.. Many of these ladies are old enough to be Eric's and John's mother! No mercy, no remorse! One mentee was charged double the normal price because she asked for 6-months extension in the mentorship, and she could not say anything about it..... but she shared her disappointment with us in the group.
 
Please people save your money, and if you are really need inspiration to do business then know one thing for sure...... all these types of motivation seminars are almost bullsh!t! If not ask any real business leaders from Fortune 500 or FTSE 250 companes...... and they will tell you what it really takes, and how competitive, dog eat dog world is out there...... thus the motivation part is only 5% of the business, the other 95% is pure hard work, grit, effort and sleepless nights......... to make it successful. Even that doesn't guarantee it! Almost every industry and sector have very high competition and innovations are quite rare, infrequent, and mainly big companies that invests heavily in Research & Development create it.... The money you need to invest to start the business costs almost double than your initial projection, and it takes twice a long than expected. You are alone, often questioning your own insanity at times, friends almost misunderstands you.... and once you have built your product or brand, then only you realise, you need more money to market it... and without marketing, there is no exposure and no one knows about it... so when you factor it all, the 12k you paid Eric Ho for motivation, was the money that you could have used for building your own business and marketing it...... now you are more broke than before and lack of money de-motivates and stops you from continuing to work on your start-up business. So not only Eric Ho has stolen your money but he has killed your dreams!
 
Please note, motivation gives you energy for temporary time only, maybe a month or two, then you go back to “default” that have built in you since your childhood! So how can one-off 2/3 days seminar change your “default”? It’s like trying to change a habit overnight. Can you? So, you can only change your “default” by consistently grinding through hard times and persevering and pushing through rejections and hard times... and having insatiable desire and hunger to succeed.. thus, only only few makes it? But if you need motivation, just go to the horse's mouth i.e. Tony Robbins who is probably best in the business. Not liars and hypocrite like Eric Ho and John Lee.
 
And if you really need mentor, you need go to real experts, which you can easily find on LinkedIn, industry publications, and surely you won’t have to pay 12k!!! You need experts from the industry you want to specialise in, and have contacts and networks with industry leaders, and can help you to raise finance, and be focused in you as much as you are working on your business, they push you, ask you hard questions, even gives you hard times and sometimes you hate him/her but after getting the results you want... you respect them! Thats the kind of mentor you want... what will Eric Ho and John Lee tell you? Motivate you? what about rest of the 95% grit. They hardly talk about it.. Can they introduce you to any Venture Capitalist? or Private Equity firm or Financial Institutions? Those professionals dislike motivational speakers and don’t even allow them in their circle, believe me! If you want join prestigious business clubs in London, check out London's Capital Club, Club house london, De Amstel Club, etc... and these clubs dont allow motivational gurus, if they find out they are trying to sell seminars or books etc, they are booted out! some clubs asks for your business’s revenue before joining... And these are the clubs where PE firms, VC, bankers, advisory firms i.e. 'Big 4' and 'Magic circle' professionals hang out! This is where you meet real business contacts! This is where you need to be, so they can pull you up to their bracket... not someone who is in your bracket and you have to pay 12k! Motivational gurus like Eric and John wont be allowed near that circle. They will be a laughing stock! Eric and John is just trying to ride off what Tony Robbins have achieved. He is one-off! I remember they said they want to go IPO on stock market! A motivational seminar company on stock market? In which security exchange? In Mars? What investment bank will represent them? In fact, their business is not sustaible in long term because anyone can be a motivational speaker with NLP courses and reading 100s of motivational books out there... you dont need any qualification! Thus, they are all over the YouTube now and ERic Ho and John Lee is getting competition, whether they like it or not!
 
So, find real expertise who can link you to bankers, lawyers, accountants, leading marketer, entrepreneurs.. NOT motivational speakers that post videos flashing their bling bling 3-5 times a day like a teenager! In fact, its so immature! I mean, Eric is like in his mid-30s and his girlfriend Marta (white girl) was a seminar attendee and Eric dumped his then girlfriend Jamie for Marta. And before Marta, the left Jamie for another attendee, her name is Trinity. But when she found out Eric was dating another seminar attendee Anna (with blond hair) she dumped him! All these girls pictures are in his FB, Insta, if you go back time... What’s sad is that Jamie still works for him, H Akademy, and have to face Eric and his new girlfriend... And Eric Ho has the heart to face her everyday with his new girlfriend in the same place. Its all over their social media... its sad! But that should tell you the credibility of the guy that you have to pay 12k!! Of course, I only came to know this all after a 1-year mentorship program and Eric was publicly (In Wats App group) arguing and fighting with another girl called Jadey, who worked for him but she left after realising everything...
A challenge will be find out how well his mentees have done in their business, besides the YouTube video testimonials, since they had taken up his program.. its hard to know their revenuce increase after few months of the program, so their company's financial statement before and after the program should be compared and validated.. Of course no one would do that... Any previous mentees up for that challenge? Well all his mentees disappear after 12 months and new arrivals are excited and buzzing every year… until they cool off at the end of the year, get kicked out from Wats App and FB group……… I hope some of those new mentee reads this and realises how it works with these con artists... Eric Ho is a fraud!
submitted by paulhorne22 to u/paulhorne22 [link] [comments]

ERIC HO SCAM

This post was created as I felt compelled to share my experience with Eric Ho's mentorship program that I'd signed up to, along with about 10 other mentees and paid £12,000 each for 1-year program. To provide authenticity of my account, I have provided PROOF of the receipt, plus his "up sell" to other programs, and how he boots people out at the end and there is no more contacts with him whatsoever. I have also found other website, where people have complaining and have lost money, like I had done. I will post the link below in the message, and it shows Eric Ho's company details from Gov.uk's Companies House, which are not worth what he claims, in fact many are in debt & closed down..
 
Here, I CHALLENGE Eric Ho to comment below this post if he thinks this is an unfair account, as he commented on his Facebook saying how this is not a true reflection of his program... I can provide PROOFs of all the accounts & experience detailed here, from other ex-mentees and how we'd all suffered and lost our savings, with no real value in the end... and if I can provide these proofs, will Eric Ho refund all our payments? Come on Eric Ho, I challenge you.. If you are honest, you should be able to take up this challenge than just comment in your FB..
 
First, see a link below, for the proof that I was his ex-mentee, so my details below comes from after going through his mentorship program, and it shows further proofs of "up sell", and how he booted everyone out in the end, and how we were only given 7-days to ask for our refund or else your payment is vanished!! And how is anyone suppose to know within 7-days that the mentorship was not a valuable program and it was full of "motivation" rally within a week of signing up?? See: https://drive.google.com/open?id=1QT9POxakgkIrXFEQN8uS4VqtEcD08F89
  See other people complain about Eric Ho's scam, and John Lee, and their method, which is just telling stories after stories and showing pictures of their success and cars (some outside the car show room) and claiming to be very successful, when they are not... company house record shows average financial statement.. https://www.propertytribes.com/eric-ho-t-127631542.html
 
Eric Hor, was introduced in one of John Lee's of Wealth Dragon seminar. There were bunch of us in the mentee group, mainly women who seemed vulnerable and naive i.e single mothers and old ladies. Eric Ho operates from his website, erichoofficial.com & hakademy.com.
 
Eric Ho promised a lots of things prior to signing up to his program and he promised all the mentees that he would help them to launch their business and in many cases, collaborate with his existing business and provide a platform and contacts to leverage our business... hence, paying £12,000 is worth it, in fact its cheap! However, it was far from that.. It became obvious after a few months, and until this point, it was all "motivational" stuffs i.e. meeting up with the group of mentees for dinner and drinks after one of his seminars in London and during these meet ups it was mainly him posting live videos on YouTube with bunch of mentees for his own marketing campaign (to show people what a good time we are all having and to get Likes and Shares). However, secretly many of his mentees were suffering as we forked out £1000 monthly towards his program and it was costing us more than our monthly mortgage payment!
 
Time goes fast, you set appointment with Eric whenever he is in London, but he sees all of his mentees after his 2-3 days seminar, where he is tired after long event, so it's rushed through as only 30mins appointment, and given generic advices and he is seeing mentees one after another.. During this appointments you go there and wait, he is talking to another mentee, then your turn comes, as you start the meeting, you see the anotehr mentee waiting for you to finish the meeting... so Eric Ho is in a rush to see you off. Hence, advices are given on the spot... He even forgets the last conversation you've had with him and repeats many comments / feedback that was given in the last appointment, as he sees all the mentees + new followers (to sign them up for his program) on that day... the new followers are far more important to him as they are a potential leads for another 12k per person and since we've already paid our fees and locked in the contract... we are a less priority for him. He forgets the action plan you had discussed with him in the last meeting and its clear that he cannot keep track of all his mentees seeing one after another after his long 2-3 days seminar event... He is very tired and gives you generic marketing advice. And when you make progress or need some suggestions from Eric Ho, our "mentor", he is out out of the country, somewhere overseas, posting videos from the beach about his luxurious lifestyle, flying business class flights and showing off his latest branded watch! and you are there stuck and unable to contact him or in the best case you receive a messages on Wats App. And that’s all...
 
You wait for him to return, but then you see another video from another part of the world, again, marketing himself and his seminars, and his new gadgets or a catchy video title and image of him and his latest girlfriend. Talking about his girlfriend.. he keeps using them in his video, to get likes and views, then after a year or so, there's a new girl and the old one is never seen again! And his new girlfriends are the seminar audience! At this time you start to doubt if Eric is serious about business. A true business man, a mentor should be there for you and know and care abot your business as much as you do.... not posting 5 videos, and 10 selfie a day! Think about it people.. his mind is occupied by social media posts and videos, and all he wants is NEW leads so he can generate additional fees... once you have paid, you are yesterdays newspaper to him..... You true business personnel dont act like this i.e. Fortune 500 companies executives, FTSE 250 leaders don’t act like a child showing off their new toys on a social media with his cars, watches, house etc.. Its unbearable as you begin to wonder that your payment is actually funding his lifestyle and his latest gadgets, and you are cant even reach him!
 
You begin to wonder and talk to other mentees and they all feel the same but no one dares to confront him as he is "so nice" and always so "positive" talking about "motivational stuffs", a sage, guru, who acts like one of those religious cult figures that brain washes people and builds up followers for his ulterior motive. The key here is, get likes and shares from Facebook, Insta, YouTube etc.. then get them to attend the seminar and then use classical sales technique i.e. "one day offer only" and sign them up for 12 months contract, where you can only ask for refund within 7 days (terms) and its impossible to know that you wont get any value within 7 days, so now you are locked in the contract and if you miss payment, Eric Ho and John Lee (Wealth Dragon) will send you red letter to take you to Debt Recovery and send bailiff to your house... and they have in-house lawyers workling for them, who emails you warning you of the consequences.... then you get worried and also have no time to go to the court and pay additional fee to solicitors not knowing you might lose more money because you have signed the contract... so you keep quite and pay the 12k!!! "Its numbers game" as they say... for example, get 100 likes and views, from that, get 20 people to seminar, then get 1 person to sign up and lock in 12 months contract... thats 12k! Now multiply this by few hundreds and thousands, then there you have it.. About 30-40 mentees a year, plus now "UP SELL" their other products, i.e. Public speaking, Forex, Property investments, Heath & Fitness, Spiritual mind etc.... thats their game! And make you bankrupt!!
 
By the way, if you want to learn Public Speaking, then just join your local Toastmasters club, where you will only pay between £50-£60 for 6 months!! with every 2 x weeks meetings, it will cost you more or less the same price of a coffee/tea per meeting. Toastmasters is everywhere, almost in every country. I have now completed almost my 10th speech. One thing about Public speaking is, its not a skill you obtained by attending a weekend or week long training that Eric Hor and John Lee is offering.. you must attend regularly every 2-3 weeks, even if you miss some meetings (that don't matter), to develop your skills. It's developed and built over time - not by attending short trainings on weekends or week-long program paying thousands of pounds/dollars. So dont be fool, don't pay Eric Hor and John Lee. Public speaking skills is like any other skills you learn, whether sports, or your regular exercise. If you stop going to gym for few months... what happens? Same with public speaking... you must attend regularly for at least 6-months to a 1-year.. then you develop skills + see other speakers do it, which you will pick up subconsciously, and when you step up to do your speech.. you will naturally exhibit skills (that you had picked up by watching other speakers on a regular basis by going to these meetings).. also, for every speech, you are given a detailed guide, as to how to structure it i.e. bullet points, linking between these points, and how to put a capturing opening and conclusive closing of your speech. You will also learn how to use body language, vocal variety, include research information in some speeches, which really helps professionals wanting to do great presentation for their work etc. And you become better at it, over time. You can never learn this over a weekend intensive course or week long course. Once you go through the Toastmasters club, the process will stay with you forever - just like driving a car or bike. So save you money from these fraudsters and join Toastmasters International club, which has nearly 16,000 clubs worldwide. You will also learn to take leadership roles as these two skills go hand in hand. Check out: toastmasters.org and click on "Find a club".
 
Eric Ho uses uses a traditional sales technique as he takes you through an emotional ride by sharing his stories, and others stories, and then says that he wants to work with "entrepreneurs" and he is looking to "invest" in the right business and "collaborate" with them, and this makes you feel like signing up to his mentorship, and it could perhaps, provide that opportunity to launch your business. With that mindset, he lures you towards him and when he offers the "1-day only" sales offer, at the end of the seminar to sign up, you do it! But there is no plan, no accountability, no real business expertise provided, except FULL of motivational stuffs, which you can nowadays watch on YouTube and feel the same or better. All you get is his regular get together for dinner and drink (which you have to pay yourself btw), and again, his posts on YouTube video promotions with all the mentee group for marketing to show what a good time we are having. Who will rant or show sad face on the video (live)?
I was in a group, where there was single mothers and some of them borrowed money from their parents to sign up to Eric's mentorship so she can make her business successful. She promised to pay back to her parents but it never happened as her parents passed away, before she could make any money. And Eric didn't even share the 50% profit that she had generated through her sales i.e. webinar sign-up consulting therapy work, after getting some leads from one of the webinar Eric had sets up. It takes her 3 months to get her 50% share. She even cried in one of our meet ups and shared her story. Another lady, Psychologist, that signed up, she spoke on the Eric's stage few times, she was very happy, got her to give him fantastic testimonial, she changed her title to "international speaker", and time goes fast... soon it was 12-months and she was crying in one of Eric's seminar at the back stage because it only hit her that she hasn't made her money back but paid 12k! Eric saw her cry, he knew WHY! as others try to sooth her, but he went on the stage and did his gig! There was no remorse nor any sympathy...... yet he acts like he feeds those childred in Kenya! Oh by the way, it was told that this charity is not his set up... it was existing orphanage and they would work with anyone that give them donation and you can put that in your business as a social enterprise business. And why wouldn't they accept donation for such purpose?
 
Another mentee, similar type of business, didn't get anything i.e. 50% commission, so he stopped asking after few times and completely dis-engaged with Eric and stopped talking completely after about 6-months in the program.
 
Eric lied to another mentee suggesting that he will use his product in his existing business to collaborate with him and launh his product in his YoYo Noodles bars, which Eric supposedly owns. He signed up to it, but it never happened and when he asked to Eric about it, after few months of developing a product and brand, Eric simply said that he had already sold his noodle franchise business. So he can't help him! However, it turned out to be a plain lie as Eric still owned the business and he was participating in Franchise trade shows later that year. He still owns this YoYo Noodle franchise and can be easily seen in Google search.
 
Another mentee couldn't afford the fees, so she was called by their staff called Marcos from Wealth Dragon, a big spanish bull dog that looks like a bouncer but acts like a motivational guru himself until you miss 1-payment! He acted like a bully when she didn't pay on time and this mentee, was already in debt and Marcos advised her to take loans from her credit cards as she would easily recoup that money anyway from the program, and when she was unable to keep up the payment to Eric, after few months, she was instantly kicked out without any notice and blocked from the Wats App and Facebook group. That’s when we saw the real Eric Ho.., not so nice and kind as he appears to be on the stage and videos and showing off his charity work in Kenya... Oh yeah, once you are mentee, you will get a "special deal" to volunteer and go to Kenya with him to do this charity work and the price you pay on a special deal is much more expensive than you would have booked a ticket and accomodation and gone by yourself... Another "upsell" like his books, like the upcoming seminar tickets, some "hero" seminar, but the principal is same.. motivation and emotional roller coaster stories and "upsell" another product.. there were few guys who finished all their savings by keep buying into these programs.. One nurse lady, single, in her 50s, spent more than 30k in all of their seminars, combined with, mentorship, forex, property, public speaking etc.. all her life time saving, all that over time she did.... tut tut.
 
There is nothing special or no real expertise offered in business by Eric Ho because all the advice is generic and 90% are motivational. And since all motivational in YouTube videos are sourced from Napoleon Hill's Think and Grow Rich book and the Power of Law of Attraction book etc. The 99% of the motivational gurus use these techniques to elaborate and explain their stories and persuade and convince audience to excite and take action.. And take action you will, by paying £12,000 for 1-year of generic advice and about 5 to 7 appointment with him (since he is out of the country more than half of the year giving seminars)... so how can you meet him possibly even if you want to........ Have you ever noticed that 99% of his previous mentees are completely out of the picture or out of touch after 1-year... ever wonder why? Because it finally sinks into them that it was all bullsh!t and they lost their money! Deep down inside in their heart, they know they lost their money, and there was nothing they could do after 7-day no refund policy!
 
If you, readers, want a motivation then I suggest you go to the horse's mouth i.e. Tony Robbins who revolutionized this game. And it is unfair how Eric Ho and John Lee do it... because they excite audiences through emotional story telling method, where their seminars are held for 2-3 days, long hours, deliberately making the audience tired and making it harder for us to think clearly and decide carefully, and prompting audience to say "yes" to many of rhetorical questions and multiples "hi5" among audiences and then encourage audience by stating they want “joint venture”, “partnerships” with only few select entrepreneurs and the offer is for "today only" sale price, and saying how Eric is only looking for only few partners only so its not for everyone (making it sound exclusive)! And he only wants few mentees only because he already has few of them already... That makes it exclusive and people sign up..... but after few months in the next seminar, he says the same thing and sign more mentees... and from different countries and it all becomes one big "social" group... hence, he loses track in 1 to 1 meetings of your progress and business plan.... and offers motivational advices only.
 
The contract states that you cannot ask for refund after 7-days but its hard to know, for anyone, within 7-days, what value you are getting esp. when the guy is flying around the world giving seminars when, ideally, you want a business mentor that can support you and give your advice in the time of need and hardship, not while he is posting videos of his latest gadget and business flight travels, which you, the mentees, had funded!! The irony is that, Eric present himself as the best son in the world to his parents, giving his father and mother a luxury watches and presents, when his parents, DONT know that its funded by these mentees who have worked hard to save up their money all their life and are paying £12,000! And some have really struggled to put that money together. I recall after a day or two of the seminar, both John Lee and Eric Ho, challenges the audience to see if they can raise money from their banks, friends and families and challenges everyone to make phone call during lunch break and see how much they can possibly raise…… during that day, it stays like that…. But its only until tomorrow or last day, when the offer for the “sale price for today only” is given and subconsciously the audience feels confident to take this offer because they were able to get loans or friends/family were willing to lend them a day before... see the trick??? These guys are experts, professionals in stealing your money!!! Vipers! Snakes! A bad name to Chinese/ Oriental community! A rotten tomatoes in the basket affecting all.
 
They are not different to those gurus, cult leaders, who builds followers and eventually brainwashes then and manipulate them.. its same technique! Eric Ho and John Lee builds followers from YouTube videos showing off gadgets, good lifestyle and happy mentees videos then you end up going to their seminar and hearing their well crafted and devised speeches, do activities, and make you feel they are great people, a guru and then challenging you to raise the money (from friends and family) then hooking you to buy their “sale price for today only” products. And to suck more out of you, there are many upsell in the pipeline...!
 
I saw many old ladies, retired ones, in their 60s running at the back of the room to sign up for a “LIMITED PLACES” only offers – without reading any terms and conditions! Some were signing up for Forex to use their special trading method to make unlimited amount of money whilst trading for half an hour a day! A pictures are shown of people being happy and drinking coffee and trading and making money! I think I should tell my investment banker friend in Canary Wharf to bring all their banker friends and his bosses and learn to trade so they can make all the money in the world in half an hour.... they don't have to invest millions in their sophesticated softwares that trades in micro-seconds and are competing with other banks and institutional investors!! No offence, but what do these retired ladies do to out-beat the investor bankers that uses latest tools, softwares, factors in speculations, world economy, politics, wars, currency fluctuation etc. etc.. Many of these ladies are old enough to be Eric's and John's mother! No mercy, no remorse! One mentee was charged double the normal price because she asked for 6-months extension in the mentorship, and she could not say anything about it..... but she shared her disappointment with us in the group.
 
Please people save your money, and if you are really need inspiration to do business then know one thing for sure...... all these types of motivation seminars are almost bullsh!t! If not ask any real business leaders from Fortune 500 or FTSE 250 companes...... and they will tell you what it really takes, and how competitive, dog eat dog world is out there...... thus the motivation part is only 5% of the business, the other 95% is pure hard work, grit, effort and sleepless nights......... to make it successful. Even that doesn't guarantee it! Almost every industry and sector have very high competition and innovations are quite rare, infrequent, and mainly big companies that invests heavily in Research & Development create it.... The money you need to invest to start the business costs almost double than your initial projection, and it takes twice a long than expected. You are alone, often questioning your own insanity at times, friends almost misunderstands you.... and once you have built your product or brand, then only you realise, you need more money to market it... and without marketing, there is no exposure and no one knows about it... so when you factor it all, the 12k you paid Eric Ho for motivation, was the money that you could have used for building your own business and marketing it...... now you are more broke than before and lack of money de-motivates and stops you from continuing to work on your start-up business. So not only Eric Ho has stolen your money but he has killed your dreams!
 
Please note, motivation gives you energy for temporary time only, maybe a month or two, then you go back to “default” that have built in you since your childhood! So how can one-off 2/3 days seminar change your “default”? It’s like trying to change a habit overnight. Can you? So, you can only change your “default” by consistently grinding through hard times and persevering and pushing through rejections and hard times... and having insatiable desire and hunger to succeed.. thus, only only few makes it? But if you need motivation, just go to the horse's mouth i.e. Tony Robbins who is probably best in the business. Not liars and hypocrite like Eric Ho and John Lee.
 
And if you really need mentor, you need go to real experts, which you can easily find on LinkedIn, industry publications, and surely you won’t have to pay 12k!!! You need experts from the industry you want to specialise in, and have contacts and networks with industry leaders, and can help you to raise finance, and be focused in you as much as you are working on your business, they push you, ask you hard questions, even gives you hard times and sometimes you hate him/her but after getting the results you want... you respect them! Thats the kind of mentor you want... what will Eric Ho and John Lee tell you? Motivate you? what about rest of the 95% grit. They hardly talk about it.. Can they introduce you to any Venture Capitalist? or Private Equity firm or Financial Institutions? Those professionals dislike motivational speakers and don’t even allow them in their circle, believe me! If you want join prestigious business clubs in London, check out London's Capital Club, Club house london, De Amstel Club, etc... and these clubs dont allow motivational gurus, if they find out they are trying to sell seminars or books etc, they are booted out! some clubs asks for your business’s revenue before joining... And these are the clubs where PE firms, VC, bankers, advisory firms i.e. 'Big 4' and 'Magic circle' professionals hang out! This is where you meet real business contacts! This is where you need to be, so they can pull you up to their bracket... not someone who is in your bracket and you have to pay 12k! Motivational gurus like Eric and John wont be allowed near that circle. They will be a laughing stock! Eric and John is just trying to ride off what Tony Robbins have achieved. He is one-off! I remember they said they want to go IPO on stock market! A motivational seminar company on stock market? In which security exchange? In Mars? What investment bank will represent them? In fact, their business is not sustaible in long term because anyone can be a motivational speaker with NLP courses and reading 100s of motivational books out there... you dont need any qualification! Thus, they are all over the YouTube now and ERic Ho and John Lee is getting competition, whether they like it or not!
 
So, find real expertise who can link you to bankers, lawyers, accountants, leading marketer, entrepreneurs.. NOT motivational speakers that post videos flashing their bling bling 3-5 times a day like a teenager! In fact, its so immature! I mean, Eric is like in his mid-30s and his girlfriend Marta (white girl) was a seminar attendee and Eric dumped his then girlfriend Jamie for Marta. And before Marta, the left Jamie for another attendee, her name is Trinity. But when she found out Eric was dating another seminar attendee Anna (with blond hair) she dumped him! All these girls pictures are in his FB, Insta, if you go back time... What’s sad is that Jamie still works for him, H Akademy, and have to face Eric and his new girlfriend... And Eric Ho has the heart to face her everyday with his new girlfriend in the same place. Its all over their social media... its sad! But that should tell you the credibility of the guy that you have to pay 12k!! Of course, I only came to know this all after a 1-year mentorship program and Eric was publicly (In Wats App group) arguing and fighting with another girl called Jadey, who worked for him but she left after realising everything...
A challenge will be find out how well his mentees have done in their business, besides the YouTube video testimonials, since they had taken up his program.. its hard to know their revenuce increase after few months of the program, so their company's financial statement before and after the program should be compared and validated.. Of course no one would do that... Any previous mentees up for that challenge? Well all his mentees disappear after 12 months and new arrivals are excited and buzzing every year… until they cool off at the end of the year, get kicked out from Wats App and FB group……… I hope some of those new mentee reads this and realises how it works with these con artists... Eric Ho is a fraud!
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