ProAct Traders Review: The Scott barkley Scam!
Welcome to the Proact Traders review. Proacttraders.com is run by 3 people; Scott Barkley, Jerry Rankin and Karen Barkley.
What does Proact Traders? They offer trading education, 2 live trading rooms (New York and London trading rooms), trade commentaries and analysis.
Proact Traders claims that the purpose is to help traders understand the structure of the Forex market and why markets do what they do.
They claim to possess a unique trading methodology that can elevate the trading of their students. They are referring to themselves as ”Target Traders” because they always target 55 pips in any single trade.
In the Live Trading room recap section, they claim that the only trades that are recorded are those that their students took in a live account with real money.
Does anyone at Proact Traders have a track record of trading success in a real money account?
We doubt.
We do know that anyone can talk about trading but not everyone who talks about trading can consistently make money in a live trading account.
In fact, if you visit one of the recordings from their live trading rooms, you will be shocked at the vast knowledge of the trading room educators.
They are basically analyzing the market by drawing several lines on a chart and informing the students that if this market reaches this point, it will do this and that. If it doesn’t, this and that will happen.
There’s a lot of rambling especially from a guy called Andrew G Haney. Andrew was allegedly a novice trader in 2015 when he joined Proact Traders.
In 2016, it is claimed that he entered Forex Roll trading contest where he emerged top among some 2,000 participants.
Proact Traders claims that Andrew grew his account by 1000% in 2016. Is all of this information verifiable?
I can promise you that all of this seem like marketing gimmick as nobody has ever provided a link or resource that can be used as proof that Andrew, the chat room moderator grew his account by 1,000% in 2016.
So where does this leave us?
It leaves us thinking that Proact Traders is run by a bunch of internet marketers who attempted trading, failed and invented a career as trading indicator salesmen.
Welcome again to the Proact Traders review.
Proact Traders review
They tell us that they possess a trading methodology that can be used to compete with the big boys. Actually they’re claiming that they teach the same system that the big boys use.
Secondly, they claim to target 55 pips in a trade. Thirdly, they claim we can be taught with the big boys. Essentially these people are saying they are the big boys or they know some holy grail methodology that can be used to achieve success in Forex trading.
The live trading room can be tested free of charge for 10 days. Apart from this, Proact Traders offers the following:
- Forex and Crypto charts plus video tutorial library …….. $200 per month
- Access to live trading room (New York and London ……………………$300/month
- A free e-Book with strategy-rich, pip-making content
Other trading tools offered include the following:
HSI TOOL- an indicator that plots the bigger target using Fibonacci, support and resistance
PAT Projector- a tool for plotting the 55 pip target
T30’s- A trading indicator for pivot points, and also helpful for plotting targets
PATO’s- an Oscillators in another name
HMI indicator- Just a Harmony indicator
Alongside the live trading room, the operators of Proact Traders offer trade ideas, analysis of 20 currencies, advanced class every Monday night, video tutorials and the most amazing Forex and Crypto charts.
Forex and Crypto chats have price feed which is purchased in bulk and the subscription cycle is 30 days. If traders purchase a day of price feed data, Proact Traders charges a second $200 after 24 hours.
They claim this data is purchased in bulk and if traders purchase daily, they will have to pay the full amount every time such a transaction happens.
This is thievery in broad daylight.
Why is it so difficult for the operators of Proact Traders to initiate a reversal with the credit card company that processed the transaction when it’s clear that this is an erroneous transaction?
After analyzing the trading school and the people who run it, I came to the realization that only the Forex and Crypto charts are useful but to the experienced trader, not a novice like most of the people who get sucked into these Forex education websites.
The bullshit at ProAct Traders
I’ve gone through the recordings of their supposed live trading rooms. The rambling is sickening. I got annoyed because instead of giving the exact trade signals, Andrew of Proact Traders was making generalized statements such as “if price reaches point A, the market will rise. If it hits this area, it will drop etc”
This kind of conversation does not tell me whether or not to enter a trade and where to exit. I believe that this is supposed to be the work of the trading charts they sell for $200 per month.
But what exactly is the purpose of a live trading room?
Any decent live trading room should be brief and straight to the point. Students must not be bombarded with a chart full of lines drawn left, right and horizontally.
This makes the whole thing too cluttered even for the sharpest student to grasp anything.
In short, the trading room is a joke.
Where are the live trades and profits?
They tell us that in 2018, they documented 5994 pips from trades which had a 94% win rate over a span of 2 weeks.
My question is whether these claims can be substantiated.
Do these people even hold real money account with a Forex broker?
The worst is never the worst.
Well, Scott Barkley is an author at FXstreet.com, Investing.com and MarketFy.com. These websites publish trade commentaries and recommendations from “experts” across the board.
What I can tell you is that most of these experts are not professional traders. They are just experts in writing about which currency or stock will move up and which one will move down.
If you ask them about their track record of successful trading in a live account, most of them can barely provide a trading statement that goes beyond 3 months of successful trading.
Conclusion
We love the game and the goal is to whack-a-mole. With no official trading statements or proof of live trading, a trading educator can sell you snake oil simply because he’s good at marketing.
Proact Traders has failed to convince me that they are truly professional traders. But they’ve successfully proved that they are professional marketers.
Thank you for reading this Proact Traders review. They will soon come here and read this review. They will be angry and mad like a hungry caged tiger.
But it’s our mission to ensure that traders are protected from financial vampires.
Fred Cheron
What do you think of Andrew Mitchum The Forex Coach? 150 positive peace army reviews.
Also Bennet Mcdowell Traders Coach?
Maryn
Truth needs to be told, but I Believe you are terribly wrong in calling proact traders a scam!!
I have been with them since“ NOVEMBER 2007 TILL TODATE“.
They are a genuine company!!.
You need to do the work to get results.
Their software is superb as per me who uses it.
Practice what they teach and you will reap 30 -55 pips .
You might have been in an hurricane mode when you visited their site, try to be patient “while doing the work“ and the sky will be the limit for you!!
john jakobs
It sounds as if the reviewer was looking for a person to tell them when to enter and exit trades. That is not the way to learn trading. To learn to trade a person must study the information being presented. Let’s face it if trading was easy there would be more people doing it. It seems that most people will not invest the time and effort necessary to learn how to interpret charts. There is also risk management that must be learned and practice in a disciplined way. It is apparent to me this reviewer has not even spent nearly enough time learning how before writing this review. Based on what I know there viewpoint was simply a quick look at Pro Act and then writing their opinion whichwas lacking real investigation and effort. If yo want to learn how to trade successfully go to pro act enroll and follow the directions given. Even Pro Act will tell you your going to need to invest time and energy. At least a year depending upon your personal experience. Having been a Pro Act trader for 2 years I can tellall those willing to listen this review isnot an accurate on based on lack of information presented. Anyone whowishes may contactme through Pro Act I am trader John J I would be happy to discuss the merits of this review and the difference between learning and subscribing to a signal service.
William Anthony Henslee
You ask for proof. I guess you are calling the daily reports of live room participants false. I have my trades reported from Oanda to MyFX Book to keep track of my winners and losers. If I could deal with you on a confidential basis I’d be willing to open up my books and discuss the program with you. By the way, within 2 years of joining Pro Act Traders I was successful enough that my Broker, Oanda, selected me for membership in their Elite Traders Group. P.S. I think you have conflated some of the various costs of the program incorrectly probably because you don’t contact the Director or Admin directly.