Traders circle - Melbourne Australia FOREX brokers and training company
I went to their course 2017 to learn options trading at a cost of $5000. Head trainer Carlo Castellano claimed that with their guidance trades would be positive 70% of the time. Sounded great, entered into in 7 trades that they suggested following the course, most were losers and cost me $7000, with any winners most of the rewards were just chewed up in fees.
They talked me into trading the ASX/XJO only which they would manage under their elite trade group. I started with a kitty of $40, 000 around august 2017, I entered in very trade they put to me. During the course they preached to us that you “make money by limiting your losses” and that they recommended that with any trade going against you, should be closed at max 20% loss. It is now August 2018. Throughout the year there were some winners, but again most of the gains were chewed up in exorbitant fees. At the turn of the year things started going really bad for me. With the AU market rising rapidly they predicted it to fall quickly so they hung in - way beyond the 20% loss mark. They kept changing the buy and or sell legs of the strategy charging huge fees each time and still staying with a market down approach when other traders were calling it upward.
By august 2018 my kitty was now $16, 000; I’d lost $7000 plus $24000($31K) in little over a year with their expert guidance. I have since stopped trading with them. These people just can't pick the market direction.
My recommendation: Stay well clear of Carlo Castellano and his team!
