Make money in Forex trading, guaranteed
Posted on January 30, 2008
Filed Under Forex & Investing Online
by David Mullings
Mark Twain famously said that when everyone was digging for gold, you should sell shovels and Levi Strauss is the perfect example of someone who became wealthy from selling to the gold diggers rather than joining them.
Forex trading has taken Jamaica by storm in the last 2 years and one company has been taking Twain’s advice to heart.Many people immediately think of Olint but it really is MTI, Market Traders Institute, based on Lake Mary, Florida (near Orlando) that has brought Forex trading to people. I first heard about MTI when a friend of mine, Dominic Azan, told me he was working for the same guy who trained David Smith and they were going to open an office in Jamaica to offer training to people who wanted to learn.
He is a Sales Manager for MTI in Jamaica and the Gleaner quoted him earlier this year as saying that over 1500 people have taken courses (up to August 2007). These courses cost US$2,750 so you can do the math. That is the first way to make money for sure - sell training courses.
MTI has a website that provides background information on the company and its “FX Chief”, Jared F. Martinez - www.markettraders.com, and my interest was piqued when I found out that i-Trade FX (www.itradefx.com) is the platform that MTI promotes to all those who take the courses, the same platform used by GoTradeJamaica.com that has the US$100 giveaway. I wanted to connect the dots between David Smith and Jared Martinez since I believed the claim regarding the training and a relationship between GoTradeJamaica and i-Trade FX was clear.
By checking the National Futures Association website, the industry-wide, self-regulatory organization for the U.S. futures industry, I found out that I Trade FX LLC, based at the same address as MTI, applied in March 2006 and was approved in August of the same year. The interesting information was that 3 people were listed as having a 10% or more financial interest - Isaac Martinez, Jared Martinez and David Smith (you can check it out here - http://www.nfa.futures.org/BasicNet/Details.aspx?entityid=0367140).
Naturally, owning a platform must generate revenues in some way and “i-Trade FX is compensated through the bid/ask spread” instead of commissions.The second way to make money for sure - owning a platform that people use to tradeFor those who thought I had some secret technique, sorry. The guaranteed winner is the one that makes money whether others win or lose, just like your stockbroker who gets paid commissions whether you sell or buy, win or lose. I have nothing against Forex, I would gladly hand over my money to a reputable trader with no complaints from investors, but I just wanted to connect some dots and show it to those who are interested. Jared Martinez is a smart businessman - train people to trade and provide the platform - guaranteed money.
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5 Responses to “Make money in Forex trading, guaranteed”
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We all know that I-Trade FX is laundering drug money for David Smith. But who really cares? MTI and I-Trade are run by the same person, The FX Thief. It’s amusing that none of the Forex dealers in London or NYC have ever heard of Jared Martinez. The FBI and the IRS know more about his laundry shop than anyone and are about to bust down his door any day now.
I checked the link you provided and I see nothing on David Smith. In fact the NFA has no information on him at all. Am I doing something wrong or has ownership changed hands?
Bob, that’s a strong statement, but not new, there are so many rumours floating around about Olint, David Smith and who’s money he has investing. Fact is it’s all speculation. He’s been in business for 5 years now and there are many other forex investment clubs thriving because of his pioneering efforts and simply because forex trading is a legitimate business and nothing new to the Western world.
I’m not sure why the FBI or IRS would be interested in David Smith’s Olint operations specifically and ignore the many others.
Hi!
Do not rush to enter into the real Forex market unless you have learned the rules of the currency trading game. If your performance in the demo account is not consistent and profitable enough, it is better do some more practice before going for a mini-account so that you should be successful.
Thanks!
I agree with not rushing to enter the Forex market. Trading is an acquired skill that takes months to develope. In order to profit in this huge market, one must be well educated. Read plenty of books and practice on demos. Learn to trade Forex with free forex tips. Thanks, Jeff.