Real Review
ok, so let's get a real review out here....
nyfxtrade, Stony, and nancy...you guys are absolutely right!
I took the course and in my honest opinion it is NOT worth the money that gets charged for it (I am not the only one...There's another so-called student that has the same experience). Unfortunately, the owner truly believes that he gives exceptional service by personally talking to you for 20 hours and that time is worth all the money in the world. Yes, he does spend personal time, but unfortunately that time is not well spent...
The so-called course consists of one back-testing exercise for a particular divergence strategy that the so-called mentor/teacher refuses to review. His comment on my asking to review it was that he looks at enough charts 14 hours a day therefore does not have the time for it. So much for being a mentor/teacher!
Now, as part of the course you will get some decent software to maintain your computer and that I believe is the ONLY good part about the "course".
A whole bunch of books (downloaded from you know where...) will be thrown at you as part of the course without any regard to what one should read or focus on. The answer generally is knowledge is king. Of course, knowledge is king and every idiot knows that, but will you ask a baby to start spelling words without knowing his/her ABCs. Of course not and it seems that this teacher/mentor does not quite understand this basic fact. There is absolutely no attention paid as to what level (market understanding and trading) one is at so its basically a here's all the info that I have and now you have. Go figure it out. For a newbie, that's an absolute nightmare as there is NO REAL guidance offered.
In our chats I have asked lots of specific questions and always received vague answers. My hopes were that maybe those answers will make sense later, but now I know they won't...
As far as the software itself is concerned, there is certainly no magic to it. In fact, the owner could not/would not even give me specific rules to trade with. The answer always was to OBEY a particular indicator that changed itself way too often due to the use of micro timeframes...ONE cannot trade based just on that (I've tried). In addition, the scalping strategy is one that is found for free on forums like these and others. The answer to specific rules in the system is GUT FEEL! There are no particular set-up conditions or rules to follow.
Now, as far as the human element is concerned...I do not think that the owner is a dishonest guy. I think he is sincere in his intentions, but needs a hard reality check (which I tried to give him, but of course it won't go anywhere). Will he answer your specific questions - Yes and No, but he will chat with you thinking that he's helping you, but its not really any help! He will also share anything useful he finds (like new websites which might be useful). Unfortunately, he's always looking for a new magic indicator to add to the tool-box and share it with the group. While the sharing intent is good, giving students new "stuff" without forward testing and knowing exactly how it works and figuring out a way to incorporate into the system causes confusion especially when there are no rules to begin with.
In my opinion, the entire so-called course is a hoch-poch of stuff put together and is being called a "course". There is absolutely no structure to the "course" and when asked about it the answer given is that you will take it as it comes (whatever that means because things seem to come from the left field all the time or don't come at all).
There's also the person in the banking industry and doc that are mentioned in these threads. Yes, that's true, but somehow it was omitted that the so-called person in the banking industry lost a ton of money (80k) doing all of this and was then told to look at pure price action where he finally seems to have come up with his own methodology. Same with others in the group...It seems only one or two people trade the system/software and everyone else does their own thing (in which case why the heck should you pay someone that much money).
On the owner's forum he talks about the FX Black Hats who apparently are supposed to be the BIG boys trading FX and I was also told that you get one profitable system after another practically every month. Well, I haven't found any of them (maybe they ran away when I joined the group). There is also no major talks in the chats. Folks say good morning to each other and then the owner posts some blurb that he read on some website to give everyone in the group an idea on what the thinking is out there, but as a mentor/teacher his thoughts are never on the table! In the same vein, no real time trades are posted. The banker taking demo trades with his system posts his trades, but its demo and everyone is a genius in the demo world.
I am also not sure where the 90-95% success ratio came from. I certainly did not find success anywhere near it. Maybe 50-60% and when asked how to improve, the answer was that it was all GUT feeling! Well, if our GUT feelings worked that well then we wouldn't have 90% losers in Forex, would we? You would also think that as part of the learning process the owner would post what he just traded and why (in real-time)...Well, that does not get posted and ITS NOT GOING TO HAPPEN (tried it by asking for it)! The course is definitely not worth the price (heck even Hector Deville or Chris Lori) charge you one-fourth the price of this course and they provide knowledge and strategies with with clear entry and exit rules. The owner can't seriously think that the extra three-fourths of the money he charges is worthy of 20hours of his time and/or giving one 40-50 books and other software (downloaded for free from you know where...).
In essence, I believe that this "course" is being offered by a guy with some honest intentions who is trying to make some risk-free money by helping folks. Unfortunately, the hoch-poch non-structured course will be of little help to anyone. The owner needs to put in a TON OF WORK in restructuring the course while taking into account what level each of his students are and deciding how to tailor the course to fit individual needs while at the same time respecting the students and the learning process.
Now, the only thing the owner has against me is that I tried to get half my money back (and I am sure he will have something to say about that which is fine by me!). He does not offer any money-back guarantee when you sign-up with him. When I realized that the course is not worth the money he charges, I asked him several (more than 7-10times) whether he would consider it. The question was always ignored in the chat until I threatened to post an honest review at which point he started blaming me that I was blackmailing him. Sure, in some sense that's what it sounds like, but if i wanted to blackmail him, I would have asked for all the money back and not 50%. My reason behind it was simply for the two of use to walk away from this a little disappointed and unharmed. He would get to keep half for giving me some free stuff and spending some time with me and I would get to keep the other half as it was not useful to me from a learning perspective. That is all that I was thinking and since he kept trying to dodge the question, I had to put it that way just to get an answer.
So there you have it. Take it for what its worth! Sure, you don't have to believe a word in this review, but I assure you that I have nothing to sell or gain from this. If you still want to go for it, make sure you have some sort of back-out agreement in place or pay in installments (he won't agree to it. Unfortunately I was only able to get him to give me 2 installments a month apart which was not enough time to judge). If agreeing to do it in installments, make sure you have at least 3-4 months of experience with him and feel confident that you can indeed learn something from him and maybe use his software in your current trading strategy and make sure you haven't paid more than half for it so you don't regret it like I am today!
