I recently purchased the 4x Made Easy package in good faith to the way it was presented by Michael Ryan and have since seen the company change all its claims. I contacted the company directly for a refund, only to be chastised.
Whether Ryan's carefully crafted script was from a lifetime of practice and polish, or professionally vetted, it was by far, the absolutely most powerful presentation I have ever seen. I've listened to many poorly presented schemes before, but Ryan's delivery was magical.
In one paragraph he would fluidly center punch every one of your motivational buttons and override all your amber alerts, "That big hit you took on Bre-X, or Enron, or WorldCorp, or any other corrupt company posing as a blue-chipper - your idea, or your broker's? Did he have you averaging down from $250.00 per share through to insolvency? The forex lets you be in control of your own money, your own future. No gap-trading, stop-passing, or limit-movements to trap you into bad trades. Just guaranteed stop-losses and profit-protecting trailing stops.
This makes a perfect business. The opportunities for making money are unprecedented. I know, because I am a trader and two years ago I was sitting right where you are now. Since then, I've turned $100,000 into $14.7 Million, and growing, exclusively using 4x Made Easy. And that was Version 6. You're gonna have Version 7. How does it work? I don't know, and I don't care. It just does. It makes thousands of calculations per second, and I just trust it. Don't believe everything your mother told you. This works." He walks past the big screen, pointing to the flashing red and green arrows. "Even if you're color blind, you've got the arrows pointing you in the right direction. How much easier could it get?"
"We're all given the same amount of time in a day to do what we choose to do. I spend 5 minutes a day on this, maybe only 8 trades per month, looking for 300-400 pips in 3-4-day swing trades. The rest of the time, I just enjoy spending time with my family and watching my kids grow up." (It turns out he actually did have a full time job - more about that later.)
He then offered to personally mentor any one of us who bought the software just as he had his maid who became such a successful trader that she now hires the maids she used to work for to clean her house. Next came the unbelievable discount offer, because he really cared. What was regularly $8600.00 for the software and training packages could be had, today only, for $3395.00. On TV they say its only $300 for a trading account, purposely not mentioning the cost of the software at ten times that, so I wasn't prepared to buy it at this event.
On their next run Mike Ryan wasn't with them, but Michael Stewart was. He claimed to have created the software and be part of the corporate structure, and with just the right amount of implied confidentiality said the general public was never meant to have access to this secret technology, that it was developed for an elite group of investors to give them the constant edge they were always looking for. And, he feared, they might not even be able to continue to make it available to us, as the 'banks' were conspiring to quash it. When asked what would happen to the e-signal feed if this software was killed, he said not to worry, as all existing users would be grandfathered in.
So I bought it with the intention of not using it until I could reach Mike Ryan, but then nobody would help me reach him. That, too, was confidential. The most significant factor in making this purchase was his offer to "personally guide you to making the millions" he claimed to have made for himself. (The company line these days is that 'nobody ever promised you were going to make millions.' Well, yeah, Ryan did.)
At a training session held by Mary Renna, I asked for Ryan's email, to which she said, "Just email me, and I'll pass it on." This, with her antics in training caused me great concern. We needed to be more enthusiastic, jump on the tables and scream with excitement. THE ONLY RELEVATION I MADE WAS THAT HER OBJECTIVE FOR THE DAY WAS TO SINGLE-MINDEDLY AND AS POWERFULLY AS POSSIBLE MISDIRECT OUR ATTENTION WITH JOKES, ANECDOTES, OR FREEBIES, LIKE 4X TRACKER, SO WE WOULD NOT EVEN REMOTELY THINK OF ASKING FOR A REFUND.
Mark Shumaker, in his training session, quite brazenly states that, "You HAVE to try 4xTracker for 30 days, after that I don't care." Then, once everybody signed up, he quicky had to end training day to catch a plane. We'd all paid $3,500 for a piece of crap DVD and GlobalTec now had to make it through the day without any distractions of the refund nature for them to legally claim our money as their own. Training sessions are conducted on Saturdays, the only full day the market is closed, to avoid having to demonstrate a real and/or successful trade.
Nobody would realize how ineffective the green and red lights and crossing lines were until at least Sunday afternoon when the markets reopened, putting us in the 'You bought it, it's your problem, not ours' category. And should you express the tiniest doubt of your abilities with this system, they are all ready to assure you of your magnificent potential.
A month later Michael Ryan returned. I excitedly told him I had the software and now wanted to start working with him, only to witness him get pissed off and immediately march out of the room like he was choked over not getting a commission for my sale. About a week later, he was killed in that Kentucky airplane crash, and the truth about 4x Made Easy quickly hit. His obituary stated that he was a professional lecturer, not a trader as he had said. And who else but an employee of a company gets up at 4:00am on a Sunday morning for a 6:00am flight to a 'free workshop' destination?
Now faced with working through the learning curve on my own, I contacted the company to activate my free e-signal feed. Joanie in Billings said that I needed a credit card to set up my account for the $99/month feed. I just wanted my 30-day free trial and reminded her that I'd be using my debit card. This was unacceptable to her and even though I selected the debit card choice on their contract, I either needed to use my credit card, or PRE-PAY the e-signal for SIX MONTHS! That was their company policy. If I didn't like it, it was just too bad for me.
What happened to the company that was supposed to to be there every step of the way?"If you don't succeed, we don't succeed?" Or "This is a great company. It'll never nickel and dime you to death like some others will." Schumaker even went so far as to say, "You ever get Microsoft on the phone to deal with a problem with one of their products? The first thing they ask you to do is ask you for your credit card number." I was infuriated. Joanie called back later with a quotation for only a 3-month pre-payment.
Then I started receiving calls from their 'Coaching Center'. Apparently after a month, most people need more training because, I guess, the software is what - too easy? I shouldn't feel embarassed to ask for help. "Everybody needs coaching, even Tiger Woods. He's probably the most coached person in the world. Succeessful people probably need more coaching than unsuccessful people. It's perfectly natural." And if you signed up to the tune of another $20,000.00, they'd toss in a dinner with the company execs, and a 'Training Certificate'.
He then discussed different types of trading styles and expectations, and how they tailor their training to match the needs of every student. I was confused. Making money is making money. Everybody's unique personal situation or crisis has no power to effect the market to do what you need it to do today in order to satisfy your expectations. You are the one with the obligation of learning the market, because the market will never learn you, or like you or care that you even exist. He continued to describe different trading styles, such as for investment purposes versus monthly trading income, detailing how hard it was to trade with an income expectation of $1500.00 per month. This was blasphemy. All the talk of multiple millions to be made, and now the training guy is saying it's near impossible to attempt to consistently earn $1500 off a system that is supposed to be so simple and reliable? As difficult as it was to accept, I now believe that to finally be the truth.
I asked him how successful he was personally with the software and he said he was just starting to paper trade, but he expected to be quite successful because he had been around trading with his family all his life. The impact of this scam has caused me serious physical harm. My blood pressure went over 200, causing blood vessels in my eyes to burst, impairing my vision and requiring potent medication just to control.
I attended the next next 4x promo to see who replaced Ryan. A new presenter, Rich Bowler, had a new approach to this. He claimed his job was to 'rein in' everyone's expectations. Now we were supposed to shoot for 10 pips per day on 1 mini-lot. Gone were the claims of 300-400 pip swing trades. No more $14.7 Million. (I wouldn't classify 10 pips as a movement so much as it is a vibration or like a flash of lightening and, though more likely to occur, profiting from it is like trying to capture that lightening in a bottle.
This company is struggling for a direction to promote that makes it easier to demonstrate that customers might confirm seeing 10 pip moves, thereby making it harder to allege in future class-action lawsuits that no customers are seeing profits.) And now we're also cautioned about losing trades, but we're supposed to try to have more winners than losers.
By my math (and you'll have to forgive me for the delay in figuring this out, because I do not have available to me any proprietary algorithms capable of performing thousands of calculations per second) 3 weekly winners minus 2 weekly losers = 1 weekly winning net trade. With a typical broker's spread of 5 pips, a 10 pip move leaves us with a 5 pip profit. And 1 mini-lot x $5 = $5.00/week. So how long does it take for $5.00/week to pay for $3,500.00 software, plus the $99.00 cost of e-signal, let alone Mike Ryan's assertions that this could generate $Millions?
I told Rich what I was going through and he told me to contact Jeff Johnson, and although nobody ever wants to lose a customer, he was sure that Jeff would do the right thing and allow me to return the software. Wow.
I did contact Jeff and he handed me off to Kerry Robertson, who really had a melt-down. He was irrationally aggravated at how I could get so bothered about having to pre-pay my e-signal or from getting calls for more training. If I didn't want the training I should just tell them I didn't want it, and it was unnecessary for me to be bothered by it. Sure, they would like to have the extra business if it was there, but if I didn't need it, just decline it. I didn't need to get all crazy about it.
I apparently was also away out of line for being critical over having to pre-pay my e-signal for 6 months. That was their policy, and why couldn't I look at it for what it was, which was, we have this policy, and we have our employee who went into her manager's office and ON YOUR BEHALF CONVINCED THE MANAGER THAT THEY SHOULD REDUCE THE SIX-MONTH PRE-PAYMENT TO JUST A 3-MONTH PRE-PAYMENT. Why couldn't I be more grateful for everything that was being done for me?
The paperwork was pretty clear. The e-signal was to be paid monthly.
He continued on with his rant. "who cares what the contract said? Just because it's on the contract, that doesn't mean that's the way it is. There was the contract, and there was their policy." and even though the contract authorized them to use my debit card to pay for the e-signal monthly, their policy was to use a credit card, or pre-pay for it for 6 months. That was their policy. And, by the way, why was i so trusting at the the time of signing the contract so as not to ask for clarity about what the terms of the contract were? Just because it says 'due monthly' doesn't mean it's paid monthly. He says he always asks what the terms of a sale are for everything he buys, even if it's only 19.95, he always asks about the terms. I should have known to ask if there were any over-riding or secret policies above and beyond the stated terms, and no other software company offers a refund once you open or install it.
I thought one of us had to be insane, and it wasn't me. The next day I apologized for my mistake in not specifically inquiring whether or not there were any secret or over-riding policies that I should be aware of and thanking them for demonstrating how their company operates. And that I have made several efforts to explain to them that I still haven't opened or loaded or downloaded any software because I believe they violated their own agreement by demanding a six-month pre-payment of the e-signal.
They offered me 2 months of free e-signal to which I found it pointless to respond. To his credit, he was always punctual in returning calls. I asked him what his personal success has been as a trader. He's exceptional on paper (80%) but that's as far as anyone there ever gets. Ask any of them what their last three 'real' trades were and they have no idea what you're talking about.
I know that we're not the only customers who feel defrauded and abused by these business practices. The plaintiffs' attorney (Eric Coakly (303) 221-5599) has confirmed that as of this date there are currently 19,000 (yes NINETEEN THOUSAND!!!) plaintiffs in a class-action law suit against 4x Made Easy, GlobalTec, Dynetech Corporation, Michael Stewart and James Dicks. The primary claim is that the product simply does not work and the company cannot produce any results of beta testing or internal studies to match its claims. To date, and since this suit was originally filed in NO VERIFICATION OF ANYONE GENERATING ANY SCALE OF INCOME USING FORECASTING INFORMATION FROM THIS PRODUCT HAVE BEEN MADE AVAILABLE APART FROM A FEW CUSTOMERS WHO HAVE SIMPLY STATED THAT THEY ARE HAPPY WITH THE PRODUCT!!!
The lesser point is that no evidence of sales above 'special events prices' exists. This practice of creating a mythical price and offering the product at 'special event discount pricing' is one Mr. Michael Stewart has been previously charged with.in association with a company prior to 4x Made Easy, CURRENCY TRADING SYSTEMS, Mr. Stewart pled guilty to CFTC violations and was issued subsequent Cease and Desist Orders, and ordered to make restitution to defrauded customers in the amount of $13,000.00 and required to pay a further $21,000.00 in civil penalties. Additionally, Mr. Stewart made fraudulent claims as to the profits he was gaining in his own personal trading account, when in actuality net losses were occurring and accumulating.
It is evident that Mr. Stewart has not withdrawn from continuing this behavior. And his best forex investing advice doesn't even use 4x Made Easy. It requires placing simultaneous resting buy/sell straddles on currency pairs prior to news events as one of the most reliable means of successfully trading the forex market.
The case is scheduled to go to trial in Denver, Colorado on October 15 through November 02.
Independent of all this I was called on Thursday, January 11, '07 by Kevin from the Coaching Center in Utah wanting to know how I was doing with 4x Made Easy, so I told him. His determination was that I probably wouldn't make a very good trader and wondered why, if this was making me so ill, I hadn't just called the Company and returned the product. (Hello Jeff Johnson, are you out there?) And also, the e-signal wasn't their product, so I shouldn't complain about it to them. When asked about not a single person demonstrating consistent income from this system, he said, "I'm not having this conversation" and quickly hung up.
This ordeal has consumed me, and I want it to be over without being ripped off. I trust that a person doesn't have to threaten to go postal on them in order to get satisfaction, much like Santa recently did. Nothing would make me happier than posting a rebuttal stating that I've been contacted and we've successfully resolved this without first being offered training services to overcome my financial challenges until their trainers are fully licenced to dispense investment advice.
Sid
Vancouver, British Columbia
Canada
0 comments