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ForexWinnersAcademy.com (Mike Gould) Review Visit site

Updated: May 11, 2018
4.737 · 30 REVIEWS
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4.737 · 30 REVIEWS
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Viral Patel,
New Jersey, USA,
Sep 26, 2016,
Guest

Not educational

I took this course in Feb 2016 and i been trading with this system and my account never went positive.

This course is for beginners who does not know anything about Forex trading. Basically for ppl who don't know anything about trading at all because they teach the methods which can wipe out your account.

Mike teach support and resistance as technical which you can learn by Googling it. They do not teach anything new which is not available for free.

For fundamental, they give you bunch of sites to follow by your self. Sites are also freely available.

For Money management, they will teach you to average down to your position if it goes against you (which happened most of time). which will take weeks to months to recover if it currency rebound. Or you will hold it until your account draw-down to 20% to stop out. which basically wipes all your small gains you made in other position if its works.

All the indicators Mike use are freely available. Mike just have different name for it. Mike's main indicator is exact replica of 3 Level ZZ Semafor Indicator which is free. All other indicators are also free.

I would not recommend this course especially for $5000. In my opinion its way too overpriced. This course worth below $500.

I would ask for refund but as Al mentioned, They will not refund any money no matter what. All you will get is suggestion and arguments instead of refund.
Reply by FXWinnersAcademy submitted Sep 28, 2016:
Unfortunately most of these internet negative spammers cannot be reviewed or confirmed as for working for other firms. The systems and custom indicators cannot be down loaded for free unless someone is violating the non disclosure. Only 30% of the the education is the S/W 70% is in the training.
"Never positive" is because they did not follow the system. I have many many students who are very happy with 40-60-80% returns year after year. I offer a 90 day warranty if you ask for the refund the day after the training that will not work. I do not offer a 0 day warranty.
Some trollers looking for free stuff will try and pray on warranties. I seriously doubt any trading school offers a performance guarantee. I do because it works and has for years.
I have tons of references and personal statements to back this up.
Al,
United Kingdom,
Sep 11, 2016,
Guest

I signed up for this course towards the end of February this year.
The two methods mostly traded are Support and Resistance and the cycles strategy.
Your profit target using these methods will most likely be between 0.5% and 1% with his money management rules. However, you can expect to be in massive drawdowns exceeding 10% or even 20% on a single trade. The method is traded without a stop loss and there is no definite or clear rule about when to come out. . He did mention to me during the training that its very possible to be holding onto positions with massive drawdowns for weeks and and even months. This is not what I was expecting. I was verbally sold on the concept that I will safely average 1% to 2% per week. Can you imagine being held into open positions going against you for weeks and possibly months at a time with drawdown exceeding 20% and 30% praying and hoping for price to reverse and move in the right direction. All this stress and trouble you have to go through just to make a tiny profit on a single trade. you will soo begin to realise that much of your time will be spent hoping and praying that price reverses and starts moving in your intended direction. The challenge here is that these big drawdown trades are not rare.

Around the 22nd of February Mike advised his students in the webinar to go long at around 19550 on the GBPAUD. The take profit target was around 80 pips. Price never got to his 80 pip target and the pair dropped by 900 pips over the next few days. Many of his students had opened several buy positions at different levels but price continued to drop. During the webinars it was discussed that some of them were now down by 12% and 15%. It was saddening to hear their voices and this pair continued to move south so their drawdowns kept on increasing to 20%, 25% and so on. It became unbearable for many of them that they couldn't risk any more and decided to accept a big loss of 20% plus and exit the trade. There have been several trades that Mike has called out whereby the drawdown has far exceeded the intended profit target.

Closing out of trades with gigantic losses is inevitable. There just isn't a definite rule of when to close out when the trade goes against you. You could end up losing all your trading capital.

This is a method with a very poor Reward:Risk ratio. One losing trade is all it takes to wipe out your profits and also put your account into a huge negative. You now know about this so don't say you weren't warned if you purchase the course. Unfortunately I never knew about this and surely Mike wants to sell his course so he won't discuss the specifics on the risk management side of things until you start the course.

It's when you sign up for the course is when you begin to realise that there is no skill or edge to this. It's gambling plain and simple. The SR 3 ball indicator you see on his youtube videos is pretty much 80% of what his strategy is about. It looks exactly the same and has similar functions as the one from the Kreslik.com website. It was created by the sites Senior Trader called TRO back in 2009 and can be downloaded on Mt4 for free. From my completion of the training the way I see it is that you are basically paying Mike $4950 to learn how to trade this indicator. It's called the 3_Level_ZZ_Semafor_TRO_Modified indicator on the Kreslik.com website.

Webinars
Mike advertises 3 X weekly webinars as a selling point on his webiste. "Receive ongoing mentoring in our 3 X weekly live trading room". Well guess what?? He sent us an email just over 2 months ago saying there will be no more webinars due to "low viewer participation". hmmm. In my opinion I think it's because many of those that were attending were in such heavy drawdowns that it didn't make him look good because inspite of following the rules thier account was getting a beating and yes these things were discussed and questions were asked and I could sense from his answers that he wasn't very comfortable. So here was a typical conversation in the webinar.

customer: "Hey Mike I took that NZDUSD trade we discussed two days ago. I am currently down 7%. Do you think it will turn around" Mike: "The news and the bankers all indicate a weakening NZD so oh yeah you are going to do great with this trade" Three days later- same Customer: Hey Mike umm my total open positions are now down by over 700 pips or 11% down for this pair what are your thoughts?? Mike: "umm still the long term view is thhat the NZD is weak so... By the way did anybody take the 30 pip short on the EURUSD we talked about yesterday during the London session?"


This is a high risk low reward strategy and perfect for those that don't like closing out of positions that go against them.

I tried to make it work by practice trading some scalp trades using his cycles strategy and his support resistance trades and I began to conclude for both methods that yes you can have many small winners but that those small gains will become irrelevant when one big drawdown trade happens

So a typical scenario is one whereby you are constantly making a few pips here and there enjoying a winning streak of trades and you think you are on a role. A few days could go by and you have made 100 pips or 300 pips and you feel great. You are up by 3% over a 2 week period. Then the next trade turns out to be a trade that moves strongly in the other direction and within two days drawdown begins to exceed 5% and you know you are going to be stuck with this pair for a while. Over the next few days you have opened may more positions on this pair through the method known as scaling. As the pair is trending strongly in the opposite direction it continues to move against you and this has increased the drawdown to 15%. Your initial 3% wins are now forgotten or distant memory as you focus on this one pair hoping and praying that it will reverse in direction. If it doesn't then you could be looking to close out for a massive 20% plus loss if you are like myself with a low risk tolerance and cant take any more chances.

Statement:
He sent me a document with the name of the broker and only two lines:
$ value on December 2014
$ value on December 2015 (which was around 40% more then 2014)
there was no trading history.
I asked him if he could provide the trading history as this document cannot be considered a trading statement without trading history. He emailed me back saying that his broker's reporting sucks.

References:
Mike gave me 5 traders to contact. I was able to make contact with one trader who was residing near Mike. Couldn't get through to te remaining 4. Either went to voicemail or no answer.

Refund
I told Mike I am not made for low reward high risk strategies. Had it been made clear to me prior to purchase that this was a low reward hig risk method then I wouldn't have bought it. I told him I have a very low risk tolerant level and cannot do big drawdowns and will not be able to trade this method . Refund request was rejected.

Here is an email I received from one of Mike's prominent members who is very active in the webinars.
Hey,
I read some of your replies and agree with some of your concerns. Right now I am dealing with one of you major topics...being stuck in a trade with a draw down for many weeks.
So much so that I have set up a separate account at a different broker so I can continue to trade while the first trade works it way back into profit.
Reply by FXWinnersAcademy submitted Sep 23, 2016:
Not accurate - we have 3 webinars per week as advertised. As a special favor to Al, I was recording the webinars and stopped due to lack of precipitation. All the blither blather about huge losses and little returns is just rubbish. About 10 minutes after I was finished with the class Al asked for a refund. He never traded on the system only criticized it from the beginning. Getting my system for free is also total rubbish. We teach a complete 4 part system - Technical, Fundamental, Money Management and Psychology of trading. Also we offer a 90 day warranty. NO OTHER SCHOOL OFFERS A WARRANTY. From day 1 Al has continuously threatened me and harassed me for a refund - really sad people like this are out there disparaging honest teachers and traders. Ask any of our references who actually trade our system and you will get honest answers. The results are real. 50% + ROI per year.
And yes I can give you my broker statements as my personal proof.
Tamiaya,
Panama City, Panama,
Jul 6, 2016,
Guest

Ask Mike Gould to see his Broker Statements proving success of his system. All you will here is crickets.
Reply by FXWinnersAcademy submitted Aug 19, 2016:
Not true and not a fair review. I did send statements, person never got back to me or called to follow up. The ROI is around 50 % +. Look at the statements, read the reviews, call some of my references. THE SYSTEM WORKS. I am happy to send anyone references and my trading statement.

PFA will not remove this bogus review - I can only write a rebuttal.
Review Moderation Team Note: We have no way to verify what was sent, or what was received. It is possible that trading statements were sent, but did not arrive in the reviewer's inbox. Therefor, we have no way to be sure if the review is bogus, not bogus, or is solely due to an email delivery error.
David Mears,
MIami Florida, USA,
Feb 12, 2016,
Guest

I found the Winners Academy online last year, to my surprise, I got very lucky!! there are literally hundreds of people and websites that offer some sort of training for a very large sum of money. Look no further, I found Mike to be very proficient and really does have a winning system. Mike even offers an extremely valuable tool for as long as you wish to use it ( FREE WEBINARS ) to keep your mind sharp or if you have any problems or concerns that may come up in your daily trading. Just think about that, FREE WEBINARS!!! All I can say, is, take that leap forward, you will not regret it. This really is the real deal. David and Maggie Mears
Karl Sittre,
San Antonio, USA,
Jan 4, 2016,
Guest

I started with Mike in Sept. of 2013 and like many I used a Demo Acct. for a while. Mike's program is relatively easy, even to a novice trader. I funded My acct early in 2014 and had a mixture of results, mostly due to my getting off track every now and then and trying to follow my own path. The nice thing about FWA is there is a webinar several days a week that you can discuss issues with other members and Mike. January of 2015 I buckled down and stuck firmly to the principles Mike had been teaching and I focused mainly on one currency pair and sometimes one or two others, but I gave the one most of my time in research. At the end of December 2015 I had almost doubled my acct size! On 12-31-2015 I had made 91% on my acct! I took 0% in losses! Needless to say, I am hooked! I want to Thank Mike and Karen and all of the supportive members of FWA and I am looking forward to many more years of prosperity.
Dan W,
Oxford, United Kingdom,
Jan 2, 2016,
Guest

I completed the Forex Winners Academy course in October 2015 and have been demo trading the methods taught by Mike since. The results in my opinion have been very impressive and totally in keeping with my targets. I have seen just under 13% growth in my account over 7 weeks, including the quiet Christmas period. This has given me the confidence to start live trading in 2016.

I found the course itself easy to grasp, largely due to Mike's relaxed style of teaching and a very giving attitude; you feel like you are being given a real insight into the forex world from someone who lives and breathes it everyday.

But best of all is the ongoing community of Forex Winners Academy graduates who participate in the webinars 3 times per week. It's good to hear what others are trading, new ideas are shared and it really helps you build confidence that you are part of a community that is succeeding in the forex world.

I can't recommend this course enough, and as long as you keep your greed in check and follow the guidelines Mike lays out it will deliver the results you are looking for.

Thank you Mike and Karen - awesome!

Dan W
Reply by FXWinnersAcademy submitted Mar 18, 2016:
Dan flew in from London to take the class. We got thru everything in order and continue to keep in touch in the live trading room on Tue, Wed and Thur as well as email.
Hunt Holladay,
Denton, TX, USA,
Dec 31, 2015,
Guest

I have been working with Forex Winners Academy and Mike Gould for 1 1/2 years and it has been a turning point decision. Once I decided to go forward with FWA I called to get more information and a real person picked up on the other end, not like a lot of others that are just an email and no other contact information. After a good chat with Mike I signed up. We began with remote training on a multi day basis. This included the weekly webinars that he runs for continued support and private 1-on-1 training. It took several weeks, in 1-2 hours blocks, to get through the main strategies and techniques and Mike was sure that I had a good handle on the information.

After I finished with the initial training I began to participate more in the bi-weekly webinars, now three times a week. This is where I now get to put my training to work. In the group setting there are ideas, view points, conversation and a general positive attitude towards trading (and sometimes some tough love). This helped with becoming comfortable with the material and starting to gain confidence in my decision making.

After several months (6) of working on a demo and trading a micro account I had a good understanding of the material and fully funded my account and started trading full time. The transition was big but I know I had a team of people to support me and help make it a positive experience. It has been a year since I went Live and everything Mike talked about at the beginning has proven true.

In hindsight I wish I had started here and spent the tuition money on working with a proven professional like Mike and Forex Winners Academy then spending it on the forex school of hard knocks, which seems to be the industry norm. Now I'm out of that vicious cycle of marketing mumbo jumbo and making money trading forex, 2015 results are just over 70% return on my beginning of year balance, and that is the goal of everyone who decides to enter this business.

If you wnat to be successful I recommend working with Mike.
Brandon Clay - Trading Story Podcast Host,
Austin, Texas, USA,
Nov 5, 2015,
Guest

I took Mike Gould's (Forex Winners Academy) class in the Fall 2015. It was a short class - about a week's time - but it was packed with value. I learned 5 setup strategies and successfully demo traded my account for a 2.9% for closed trades each month I traded. The total return was of 5.81% and I had a 72% win ratio. It took surprisingly little time to trade the method.

A huge benefit of Mike Gould's program is the weekly webinar. He holds them 3X/week and I attended 2X/week. You can really learn more by attending those webinars / calls.

There was 1 period of extended drawdown (about 4 weeks), but I followed Mike's trade management and that once-losing trade netted me nearly 2%. If I continue to trade Mike's method, I would expect to make between 30-50% in the first year. Not bad for a part-time trading method.

If you're looking to trade the forex with a low time commitment and a solid, niche group of forex traders, checkout Forex Winners Academy. I highly recommend Mike Gould and his class.
Carlos Love ,
Austin , USA,
Sep 22, 2015,
Guest

I started trading with Mike last year After I had a 6 months short learning curve, I have managed to make consistent, reliable returns since January 2015. Mike is great teacher and upport for any questions you might have, or detailed analysis of trades you might be in. He holds several webinars throughout the week to examine the market, and re-enforce the students in their effective trading system. It's a solid and systematic source of income if you follow the rules.
Greg,
Austin, USA,
Sep 7, 2015,
Guest

I took Mike's class a little over three and a half years ago. He was extremely patient with me and made sure to take as much time as I needed to grasp all of the different setups that we trade. One of the best parts about learning from Mike is the weekly webinars that many of his former students attend every week. It's not only great for newer traders, but it's also a platform for everyone to discuss live trade opportunities and help each other continue to grow. It's a great community of other like minded people who are making the same returns or better than I am. I don't bother telling friends or family about the returns I'm making anymore because they don't sound real to outsiders. If you're serious about learning how to be consistantly profitable in Forex, I strongly encourage you to take Mike's course.