TheFXMentor.com Review

4.302 · 15 REVIEWS

Michael Storm

Updated: Oct 15, 2020 · Visit site  · Is this your company?
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4.302 · 15 REVIEWS
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Traders Reviews

John A,
Leeds, United Kingdom,
Oct 14, 2020,
Guest

Total Commitment to making you a better trader

Service use: Live

Length of use: 6-12 Months

I have been in a lot of trading groups over the years, some good, some bad. But i can say i have never been in a group that is more committed to making you a better trader. Michael & Alex do everything they can to improve your knowledge and take the time to answer any and every question you have.
If you want to become a full time successful trader, this group is the place to be. But just so you understand, it isn't easy and takes a lot of hard work and effort.
 
Victoria, Australia,
Jul 10, 2020,
Registered user

I have know Michael Storm and Alex for a long time - they are not scammers

Service use: Live

Length of use: over 1 Year

In a world of full of scammers and none more so than in the Forex world sometimes you might be lucky enough to come across someone that is not a scammer and who actually care about traders and those that want to learn to be a trader. I have known Michael Storm for over 12yrs now and Alex for a couple of years. Both of these gentlemen not only talk the walk but walk the walk as well, they care about those that join their room. Alex is available during London session every day and does a comprehensive look at the London market and outlines his trades with very detailed notes. Michael does the New York session and does a top down of the market every single day Monday to Friday prior to New York open and live trades the New York session. He also does a lot of training during these tops downs and the replay is available within 2hrs of him doing it live. He will also call out when he is taking a trade BUT it is up to the trader as to whether they press the button, IF THEY AGREE !! with the trade. Yes, he might get it wrong at times, however he can teach a trader how to get out of trades and both he and Alex are available to do 1:1 skype calls, but you have to ask ! If you don’t ask you don’t receive. Now you get all this PLUS over 50 videos that you can go over and over again and again. I could go on and on but these men are two of the most remarkable willing caring Forex traders/mentors that are so abundantly share their knowledge that I have come across and they doesn’t charge $5k or $10k to learn from them. The monthly room fee is less than the price of a good meal in a top-notch restaurant. They are the 3star Michelin stars of Forex mentors. BUT here is my caveat it is your choice !! when you press the button, if you don’t understand the trade DO NOT TAKE IT and ask questions. Also learn to crawl before you walk and then run !! Trade small and by small mean start at 0.01 !! The room will become your trading family, the other traders in the room are more than willing to help and they will become friends and people that you can bounce ideas off. So I would highly recommend Michael and Alex to any one that is wanting to learn to trade ABSOLUTELY I WOULD.
  2 traders have found this review helpful
Mexico, Mexico,
Jul 7, 2020,
Registered user

My honest review & opinion to help other traders

Service use: Live

Length of use: over 1 Year

I've been a member of Michael's and Alex's group now for around two years and from my perspective, I only have magnificent thing's to say about them as people and about their trader training room. As mentors, for me, they're the best in the business. Like most traders when they begin; one of the main challenges is finding out who's genuine and a real trader and who simply makes a living in marketing - "selling a dream" - which is evident when you search on social media, YouTube etc.

My initial interest came when I found Michael on Youtube and watched his free training video's which really made me think I've found someone at last who's an expert and knows exactly what he's talking about. I was instantly drawn to his no nonsense teaching methods. Not a fake 20 something year old waving his $100 notes in his so called Lamborghini . No marketing BS... just pure trading.

When I first arrived in the trading room, i must admit it took me a few weeks to get used to the speed of which trades are analysed, executed, and being a multi-tasker, but over a coupe of weeks, this seriously improved my trading, my understanding of how the markets work and the positive difference was highly noticeable.

Michael and Alex have always took the time to teach properly - such as understanding fundamental analysis, what drives the markets, price action - from the very basics to more advance trading, such as washing and damage control, money management etc. The length they take in explaining and teaching amazes me. What's really great too is when new people come on board, the guys in the room give a genuine warm welcome. We all recognize that we were once new, so most really go out of their way to be most helpful.

It's very easy to be skeptical and I don't blame anyone for doing so... in fact people should be. But when you spend a week in the trading room, it's very easy to learn that these guys are the real deal.

The training video's which are exclusive to members are second to none. The in-depth specific training in my opinion is the best there is.

My advice to anyone considering joining the trading room:
Don't expect to go in and become a millionaire over night.
Don't pretend to learn what they are teaching. You must be committed.
Don't try to learn everything over night. It takes a couple of weeks to understand.
Don't hire an expert and do the opposite in what they teach.
Don't be a "know it all" be humble and start with a blank canvass.
Let go of old habits.

Do fully engage in the room and ask questions. Believe me, Michael and Alex love questions.
Do watch all the training video's at least 3 times over.
Do be in the Live room - it's the best way to learn.
Trade small and understand why they take trades on - rather than just trade blindly.
This room is NOT a trading signals room. It's a traders training room. You must learn to understand their methods.
Take responsibility in your own trading, your account and take responsibility, in learning.
It's very easy to point the finger at Michael and Alex if it's not working out for you... losers only push the blame out somewhere else, usually it's about their own failing's.
Learn the business before you trade.
Be humble in your learning's,

This is my genuine perspective. The trading room at the beginning is not easy, it's for the disciplined and hardworking only. If you are prepared to work hard, work long hours, then in my opinion, people will be a huge success.

Hope this helps you guys.
  1 trader has found this review helpful
Sofia, Bulgaria,
Jul 2, 2020,
Registered user

Nice room and I will tell you why

Service use: Live

Length of use: 0-3 Months

Last month I started trading the Forex. With the 52 Videos in the course I was able to answer a lot of questions that were occupying my mind. I highly recommend to watch the videos multiple times. There is a lot of valuable information. Furthermore the chat room is TOP! You get answers of the questions and learn how to make money. All are kind and there is a lot of respect to all, even if you are completely new. Everybody is willing to help. The indicators you get(with the explanations how to use them) are awesome. With the help i got, all the stuff I learned and the help of Michael and Alex I was able to pull almost 10%. The banks in my country are giving me 0,8% per year. The best part is that I had a loosing trade, that I turned into a winning one with the damage control - multiple times explained by Alex and Michael. Sure I had a couple of loosing trades but the "washing system" works just fine. If you follow the simple rules it is likely that you make good gains. Slow but sure and with almost no risk.

The only minus that I can show is that you get a fine of 1 virtual pip when you write in the wrong chat :D :D :D

I strongly recommend to at least try it and LISTEN to what they say!
  1 trader has found this review helpful
Shaun,
Dubai, United Arab Emirates,
Jul 1, 2020,
Guest

TFM Teaches You How To Trade Successfully WITHOUT Fear

Service use: Live

Length of use: 0-3 Months

I've been in Michael Storm and Alex's Trade Room since the first week of April and I have doubled my account already.

The simplicity with which the system is taught is beyond anything i have ever seen - in spite of working at an Investment Bank out of Uni.

They do not need to be doing what they do for the 100+ people who are in the room - they don't need the income from the participants to make their living. They do however, give over 10+ hours a day to teach beginners and intermediates alike, how to trade 20+ assets comfortably without fear. This is the passion that they have to teach trading.

I believe that if people approach the training open minded without their own subjective opinions about how the markets work, and follow the advice (not blindly, but proactively seeks to understand WHY something works the way it does), they will be as happy as i am that i joined.

Highly recommended that TFM is joined by anyone that really wants to be able to filter the garbage that the internet throws at us about how/what/when to trade, and give them at least 6 months to fully understand all the ins/outs of the system.
  1 trader has found this review helpful
Leontios,
somewhere in the USA, USA,
Jun 29, 2020,
Guest

I like Michael and the trade room...

Service use: Live

Length of use: 0-3 Months

I like Michael and the trade room, it's a fun place to trade and everyone there is awesome. Michael is a great trader, he has a lot of knowledge about the forex market. However, to make this an honest review, I have to say one thing...

The strategy he teaches can make you a large return fast. It works MOST of the time brilliantly. However every once in a while the market can and will trend for a very, very long time without much of a retracement at all. It's rare, but it DOES happen every so often.

If you just start buying into a downtrend or selling into an uptrend when this happens you can lose a lot of money if you're not careful. Washing and other 'techniques' will not help you much if you get too big into a monster trend going against you with no retracements to speak of.

Michael seems to ignore this fact or "talk down" to you if you happen to bring it up. This is literally the only thing I have against this style of trading or against this trade room. Other than this, I really liked Michael and the room! Just be extra careful you don't get impaled by a huge trend if you do decide to join and partake in this style of trading.
  1 trader has found this review helpful
Benjamin,
Georgia, USA,
Jun 26, 2020,
Guest

Experienced Trader but New to his System

Service use: Live

Length of use: 0-3 Months

I'll keep it short....If you want 2.5 percent on a daily basis, this is the place to be. As a trader in the "Live Room" stated, "You could Sneeze and make .5 percent daily with no effort, where else can you do this? Sure, there will be draw downs, but that's the Forex way.

There are no true get rich schemes, they are fantasies, are after your wallet, will leave broken, disgruntled, disappointed and most likely you will just quit. The trading system as taught here, in my opinion and experience is safe and very effective.

Take the dive as I did, you will find it is well worth it.
  1 trader has found this review helpful
England, United Kingdom,
Jun 26, 2020,
Registered user

MICHAEL STORM DANGEROUS STRATEGIES AND TRADE ROOM

Service use: Live

Length of use: 3-6 Months

POLITE REQUEST
If you have recently joined his trade room, I suggest you wait for at least 6 months before writing a review otherwise your review does not hold much weight and maybe you are just feeling too excited. If you are his long-time friend, maybe you should avoid writing a review. Please note that before submitting a review you certify that:

"I have no business or personal relationship with the reviewed company or any of its competitors, except as a client"

When you write a review, It would also be helpful to know:
1.) How much profits/loss you've gained in percentage of your capital?
2.) How long did it take you to achieve that?
3.) What was the maximum drawdown in percentage you have experienced?
4.) How much time do you spend trading on average every day/week.

Also, It would be helpful if you could give an update after a year of writing your review or when you leave the trade room.

A lot of people are usually reluctant to write a review (especially negative reviews) when they leave the trade room as they feel bad doing it as friendship has already been formed. I have experienced this firsthand.

Many thanks.

Good luck.

Jun 11, 2020 - 1 Star I am not lying here and I am spending time doing this review and hopefully it can help someone. This is not meant to troll or destroy Michael Storm. But I’d like him wake up from reality. His system of dollar cost averaging, going against the trend, no stop loss or washing/hedging concept maybe working for him but I tell you, it did not work for me and most likely it will not work for many people including you. I lost a lot of time and most importantly money. I believe same thing happened to other people in his past trade rooms as I’ve been warned before but I didn’t listen. You may be happy making money in the beginning doubling/tripling your account having tons of pips but I tell you, anyone can be lucky for many months or even years but one day what you win you will likely lose and possibly many more if you continue to follow his strategy. Of course, I do not wish this to happen to you or anyone. He maybe showing his daily returns but he keeps hiding his open trades that are negative. How can you know how much maximum drawdown he incurred before doubling or tripling his account balance? For example, he could have doubled his account from $1K-$2K but it could be his equity is down to $500 only. Let’s just say he managed to bank $1K profits from his original capital of $1K and his capital balance is now $2K. What if he has negative open trades of $1500, you wouldn’t know that right? That is massive drawdown. Would you allow that to happen to your account? It’s basically like this, you have started with $10K account and banked $10K account and now have $20K balance but have open negative trades of $15K, effectively having $5K equity only. Would you be able to sleep at night peacefully with negative open trades of $15K that could still possibly increase and eat all of your remaining $5k? If you really want to follow his teachings or anyone especially paid ones, I suggest do not get attracted to percentage returns they are showing you. Do a deeper and thorough analysis. You can only do this if they will show you a complete history and analysis of their trades just like in myfxbook showing maximum drawdown etc. Michael Storm said he tried to link his account to myfxbook in the past but did not work and just caused him problem with his computer. I completely disagree with this, if there is a will there is a way. In my opinion he doesn’t want you to be able to analyse his trading behaviour. However, for your benefit and analysis, did you know that he joined a forex trading competition in 2018? He managed to banked 72.28% of profits after several weeks but also had an open trades of -75.70% (yes that’s negative). Here is the link of the video https://www.youtube.com/watch?v=H0NFJuLyKLM&list=PLGlASNTWXX7k3iPQSJOy5TT72-4KQjd3S&index=7&t=693s fast forward video around 8:00 he was 4th place and his Alias was Robinhood and you will see that I am not lying.

All the great traders keep saying cut your losses cut your losses, manage your risk etc but this is the complete opposite of what he is teaching.

In my opinion, his strategies are very dangerous and should not be even taught. It is mentally draining, torturous and time consuming as you will have endless negative open trades all the time.

I suggest that if this works for you Michael Storm you should keep it to yourself and not teach or show this to others. One can be successful doing this in demo or live accounts for many years but eventually it will tire you out and it is only a matter of time you will give up and lose all your money. You cannot continue funding your negative open trades forever. Yes, you can wash, but if the trade goes against you by 300-2000 pips and doesn't give you a decent pull back, then you are doomed. Michael Storm believes the price always come back which could be true most of the time but not always. Yes, you can trade in small sizes but if you are trading like over 100 trades per day and a lot of them are correlated pairs, it would be the same like trading big in total. Yes, he puts disclaimer and only do washing in demo or when you are comfortable doing it including the additional risk involved. It is like giving candies to children and telling them afterwards it is bad for their teeth.

If you really want to learn how to trade, there are many free materials on the internet. Also, there are lots of free trade room on the internet, discord, telegram etc. I would stay away from people who are teaching dangerous strategies (averaging, no stop loss, martingale, grid, etc) Also, there is no shortcut, you will not cut your learning curve by joining a trade room, experience is the best teacher. It will take many years of hard work and pain to become profitable (I believe at least 5 years).

I was in his previous trade room in 2016 and his new trade room. He boasted in his previous trade room that he could turned $1k dollars to $1million dollars in 3 years. I was fooled to believe this and I even told all my friends and relatives to join his trade room but they did not believe me. They were right and I was stupidly wrong to believe this. I was embarrassed to all the people that I’ve told before as it did not actually happen. He was even very selective at that time and had everyone interviewed before we can join and even asked us to sign an agreement not to disclose or sell his teachings. All of these are really nonsense.

In the end he gave up and he came out with many excuses due to GBP flash crash, and $1K should not be the starting balance as he cannot “wash” it should be $5K blah blah blah.

Do you really think that even if he started at $5K in 2016 he would have made it to $1 million by now it’s already 2020? I would be interested to see if he even made $1 million trading forex for the past 3 years no matter what starting balance he started.

I’ve seen how he trades and his massive negative open trades. His strategy is basically, wait and hope that price will come back.

Did you also notice and feel?
1.) How teases people who are “only” making 20% per year then seemingly desperately encouraging people to join his trade room?
2.) How he becomes quiet not showing his daily score when he is trapped with large drawdowns?
3.) When you are in his trade room, and you are quiet and silent type, you will hear something from him?
4.) When you are in his trade room, you are basically paying subscription and at the same time you are entertaining him by chatting and listening to him including his preaching?
5.) Since he loves trading long hours, he needs a company for the those long hours and that is you?

I hope this review could help people who are following his strategies. If you have experienced his strategies whether good or bad, why not let other people know about it. By the way, apparently his computer was hacked (not me and don't even know how to do that!) recently and he had to start a brand-new account. Don’t know what happened to that nice and steady previous account. If he can show a complete trade history, only then it is believable what he would say.
  1 trader has found this review helpful
Texas, USA,
Jun 24, 2020,
Registered user

Michael Storm/Alex deliver what they say and more, the rest is up to you

Service use: Live

Length of use: 0-3 Months

I have been a member of the FXMentor.com trade room for 2 months now, and I have received exactly as I was promised, and even more.

This is the best trade room experience for the following reasons:
* Constructive interactions between teachers and members
* Methods are explained well and repeatedly reinforced daily
* No waiting endlessly to find daily trades
* Method supports swing trades, hourly trades, and scalping trades
* Minimum of locker room behaviors (cussing, fighting, verbal abuse, bragging)
* Respectful of less experienced traders
* Both teachers pour out their efforts towards your success.
* Not a newbie room where advanced traders endure BabyPips type instruction.
* Women traders can feel comfortable joining this room, and there are some really
talented women traders in the room.
* Many valuable MT4 trading tools are provided for free, with instruction manuals and even step by step videos for setting up machines and MT4 layouts.

I have asked questions of both Michael Storm and Alex regarding trading techniques, pointers for scaling in/out and doing damage control/hedging and received detailed personalized answers ( plus documents ) that have proven helpful.

From the outset, Michael Storm and Alex were very clear about the following:

1. Watch each of the 52 videos several times until you can teach them to a small child without notes.
2. Attend the top down sessions daily and ask questions if you don't understand.
3. Trade demo until you can confirm you are understanding the concepts.
4. Use hard stops if you are not comfortable with damage control (DC)/hedging
5. Limit the number of pairs with active trades according to skill level.
6. Small lot size across multiple pairs not large lot size in a few pairs.
7. Pick pairs for trades strategically to avoid too much correlation.
8. Start trading real money at lot size 0.01 and do not increase until your account has doubled, and you feel comfortable with your skill level. Then increase slowly from there.

Understand that the method is a scaling in / scaling out methodology based upon price oscillation. As such it is not really "dollar cost averaging" but more like "tactical scaling in/out". The total trade size is planned in advance, with the entries split into small pieces and entered strategically depending on price action and chart support/resistance. But it is not a counter-trend system except near turning points because the scaling approach is used before obvious trend confirmation is observed in the charts. There are many trending periods where you will be buying dips or shorting pops (basically entering during trend retracements) for days at a time, and scalping opportunities are available as well.

Is the room "dangerous" as ForexChap warns? That depends entirely on you, your personality, discipline and trading style.

It is true that many trader rules (let your profits run, cut your losses short, always use a stop, set your stop below the obvious support/resistance, the trend is your friend, etc) are not followed in the traditional sense, but why follow the crowd when the crowd is losing money? Who taught you those rules and why? Have you handed them your playbook by following their rules? How many times have you stopped out repeatedly before the move occurred without you in it? Do you think the market makers are handing out pips like candy for anyone that shows up at all hours of the day to put on a quick 30 minute scalp?

If you want the following, you might not be a fit for this trade room:
1. One shot, one kill trades with 1-2% risk per entry, set SL/TP and walk away
2. You "forget" about open trades and don't manage them actively.
3. You only want 1-3 trades each week on a couple pairs.
4. You want near zero drawdown, and like to go flat a lot.
5. You want to trade on a cell phone from the beach or golf course.
6. You're not committed to attending top downs and applying the concepts.
7. You don't ask any questions and want a signal service.
8. Your trader motto is "Ride or Die"

On the positive side, this room is a good fit for you if you like:
1. Many daily trade opportunities.
2. The opportunity to achieve better than 100% per year in your account without swinging wildly for the fence or taking massive risks.
3. The result of being paid regularly for your hard work.
4. Working hard and staying disciplined in your trades.
5. The opportunity for 70-80% profitable trades within short timeframes.
6. The choice of stopping out, or sometimes "working out" of bad trades
7. Not running hard stops where market makers can pick them off on you.
8. The opportunity to make hundreds of pips a week during most weeks.
9. Timely input from teachers on what they think about certain pairs.
10. Help from other traders pointing out news and trade entry/exit times
11. Trading during New York morning sessions and/or London session.
12. The opportunity to develop professional trading skills over time being around experienced teachers and fellow traders.
  1 trader has found this review helpful
Miami, USA,
Jun 24, 2020,
Registered user

A good full-time mentor is difficult to find in Forex

Service use: Live

Length of use: over 1 Year

I have been trading with Michael Storm for one year. Last year in the month of June I traveled to his trading office which is located in Connecticut. I paid him the least amount of money that I've paid anyone to take online courses. I stayed with him for one week of training. We traded from approximately 6:30 in the morning till about 4:30 in the evening for five straight days. Three of those days, I had after hours, extra training. I learned much from his personal one on one teaching. I paid him one and a half time less than the course I took at the Market Trading Institute (MTI), which was an online coruse. I shall not forget that the money I paid for the course included room and all meals. The meals were exceptionally well prepared. During the final weekend with him, he took me canoeing, sightseeing unique places, and out to eat lunch with his family and extended family. This is stated just to show you the kind of person he really is.

Now back to Forex. Michael helped set up my charts so that they would match his charts. He advised me on other equipment such as monitors and software that will be best in my case. He would always ask me "do you have any questions"; "do you need any extra help with anything that I've taught you"; and often times I did. He advised me to start off slowly, and don't load the boat with so many trades. I have followed his advice in that regards for year. I plan to continue to follow that advice. He advised me to only start trading with .01 lots then as I understood more about the Forex business, I could move up to .02 lots, but start of with a demo account first. I followed his advice and I am pleased today that I have not blown out my two trading accounts.. After trading one day, he help me set up my Forex account, showed me how to transfer funds from Dollars to Bitcoins back to Dollars again. He also solicited help from someone else who had done Bitcoin transfers before. Altogether he and his friend spent 3 1/2 hours helping me move money from one account to another one which was not easy. The good part about it, was that the next day Bitcoin had increased shaply, I awakened to find out that I had gained $5000 overnight, boy was I happy that I met Michael. So I call my wife and said man, am I happy I met Michael I made $5000 last night and that was more than twice the amount the whole course cost me with him, what a blessing.

Mr. storm showed me how to wash out bad trades. He stated that all traders will have losing trades. But this is how you minimize your loss, by washing out losing trades against new ones. He also said, when you are trading at .01 or .02 micro lots it helps you to cover-up the mistakes you will make. I've never forgotten it and I still do it even today, however, this is a difficult technique for me to learn, even now. He advised me not to get greedy, but to take my time because it does take time to learn these methods. I did everything he told me and that's why I am still in his class today. Every morning I wake up to be in the top-down analysis session. On Tuesdays and Thursdays, I try to spend about five hours trading with him. Since he is trading mostly the whole day I can text him through Skype and ask questions. I did not get this in any of the other courses. The top-down analysis he does is "A" number one. I've learned so much and plan to learn a lot more. Since he's been doing this close to 20 years he has to know something, and I want to know what he knows. So, therefore, I plan to be with him for many years to come. The measly $129 a month is a drop in the bucket for what he does. I am willing to pay someone like him who trades all day right in front of my eyes and I'm able to see exactly what he does. He is not always right. And when he's wrong he makes an open statement "I was wrong on this but let's try to correct this." What more can a student ask for?

Right now, I plan to stay with Michael storm. I love the way my trading account looks. So I don't have a reason to leave. I think if anyone stays around as long as I have, for over a year, they would learn something. And may I suggest anyone who wants to learn Forex, come and join us.

You may contact me about anything I've said through the email that has been provided.
  1 trader has found this review helpful