ElementalTrader.com Review

Dustin pass hey dustin pass where are you?.. Your totally not support will talk to you like your a idiot. Support is a joke. You just have a question and they will tell you a duh a duh. well if their support sucks so bad i bet their products all suck too. how do you support a c****y product?

I purchased the harmonic patterns recognition software March 4, 2011 and had to request several times to have a password update,
due to failure of password issued, to date I have requested password update due to the error message received to load software, no response, will try again, support team stinks.

I tried Elemental trader and had a few wins but many of those winners would have triggered using other systems that I already use. A few of them were triggered on thier own merit. Overall I lost money using the system, too many times a trade just kept going to my stop loss point after adding to the trade. I felt like once you entered you just prayed that the market would turn and head in the direction you entered an enter and hope system. The trade finder worked for a couple of days but was stuck for over a day and tthe text message service only worked for me fora couple of days. I think perhaps if one was more selective on the trades than I was it could have been more profitable, but with only thirty days to test the system in order to get your money back you really have to take a lot of trades in a hurry. I just felt like it didn't have as many advantages as systems I am already using. As far as getting a refund I got my money back right away after we got some email issues cleared up. An important note is that if you are going to test the system be sure to keep a detailed log of your trades and the trade Id #. That is the most imprtant thing you can do. If you have all your ducks in a row you will have no problem with a refund.

All I can say it WOW.... as I read through all the comments I am blown away. LFox, you asked for a refund on a strategy that you said has a near 60% win loss ratio and a strong history of overall gains. (what exactly do you want in a strategy) Micheal, you said the product was ok. In the Forex industry I have experienced two types of strategies. Good ones (profitable) and bad ones (not profitable) if its "ok" I am assuming that it would be in the good category otherwise you would just say it sucked. Again why give a strategy or a service one star call it ok and go as far as to say never work with that company. Just playing the devil's advocate here. I have bought a lot of CRAP and rarely does any of it work at all so it disturbs me to see all the negativity around such a great program. Its not without its problems but definitely not deserving of some of the things being said here.

I think it's obvious I am a Dustin fan. I have been trading using the ElementalTrader and have done very well. I can't say that I did as well as Juan who reported 750 pips in a month (great work by the way) but I will definitely not be asking for a refund. That's not to say that I didn't experience some issues in the beginning as well and was a little ticked off by it however I was finally making money so I got over it. I later found their response emails were going to my spam folder so it turned out that it wasn't their fault to begin with.

Server issues. This was a PAIN in the but. My saved trade finder alerts kept disappearing or not sending at all, then my time zone would not stay. I finally got one of their support guys on the phone named Dave and he told me that they flat out were having to many alerts going out per hour. Something like 5000 and it exceeded the amount of emails their system could send out and then ended up hanging their servers.

Overall this is my deduction. They had a great product that a lot of people bought and bottom line they just didn't have enough people to support the influx plain and simple. At this point all seems fine and has for several weeks. My alerts come in as they should. I am using the trade plan template they provided and am doing very well. I give ElementalTrader two thumbs up and especially now that they have all their issues worked out would strongly recommend getting involved the next time they take on new clients. I guess you could say the strategy etc gets 5 stars but there support gets 3 stars for an average of 4.

I agree with Michael W. I also tried the Elemental Trader package and found it to be an interesting widget plug-in for MT4, however no value for me as I prefer to trade 1H to 4H timeframe.
So I asked them for a refund and submitted all the evidence they requested. Still waiting. I am disputing the charges through my bank because I cannot wait for them to respond. Their support hotline is unresponsive and their support ticket entry system is almost a joke. There is no way to even view or update your ticket once it has been submitted.
I recommend everyone to stay away from this one. While it may not be an outright scam, their level of service is definitely sub-standard and cannot be relied on.

Just a follow-up to my previous email. I finally received all my refunds. Again, the software isn't bad but the management and support staff may be at this time. Sometimes the desire for the almighty $ causes people/companies to take on more customers than they can logistically handle and customers like me suffer. I hope that does not happen to you.

2011-03-28 1Star I tried Elemental Trader and Straddle Trader and found the product OK. BUT the customer service is awful and deceitful!! I sent so many requests for help and received no answer for weeks. Then I started to worry as my 30 trial period was half over and I was getting no response so I decided I better start keeping track of my losing trades in case I decided to request a refund. Then I finally got a response from an Ivan saying that he had been trying to respond but my email must not be working. I have NEVER had a problem with my Yahoo account and somehow he did make it through with that response. I decided to get my refund since the most important thing other than the product is the support behind it. I had all the requirements met and said I wanted a refund and that I did not want Straddle Trader either that I paid $1 to try....."so do not bill me"(I sent 2 emails saying this two weeks before the trial period was over). I finally JUST received my refund on Elemental Trader when today I found that they billed me for Straddle Trader!!! I have contacted my credit card, their support again and I even got a MAILER-DAEMON for support@forextradersdaily.com. Not a good sign.
I would strongly recommend that you stay away from Elemental Trader and Straddle Trader and anything to do with Forex Traders Daily with Dustin Pass.

this guys has some problems with your servers in last days but finally they resolved this situation and actually the software and signals are working very well. In the last month I won +750 pips. I recommend this service, It´s the best one.

Finally as promised, an analysis of Derek Frey's results of harmonic pattern trading.

Summary: Harmonic Pattern trading may not be as great as they claim.

As part of my subscription to ElementalTrader, I had access to Derek's trades and trading history via TradeAlertPro. I carefully copied all of his trades into an Excel spreadsheet. Here's a summary of the results:
Time period: 8/8/2008 - 2/28/2011
Total Trades: 1798
Profit/Loss: +6169 pips
# Winners: 758
# Breakeven: 285 ( 0 pips )
# Losers: 755
Winning Pct: 58.0% (Winners + Breakeven)/Total
Max Profit: +7487 pips
Max Drawdown: 1835 pips

PRO: He made +6169 pips. You can't argue with a positive cash flow.
CON: Overall his winning percentage was 58.0% -- much less than I expected from a seasoned trading pro using a system, Harmonic Patterns, with a supposed 80-90% success rate. I am unable to determine how much of the +6169 pips was due to the use of harmonic patterns versus Derek's ability as a professional trader.

Notes:
- I included Breakeven trades in the winning pct because I noticed as a trade became profitable Derek would move his stop to breakeven hoping to catch a runner. He could have easily moved the stop to +1 pip.
- For Sept 2010 - Feb 2011, he had 5 losing months out of 6; October was only +29 pips. These results were omitted from their webinar given in Feb 2011.
- In their webinar they touted Harmonic Pattern trading as very successful, 80% to +90%, yet Derek managed to break 80% for only two months, Aug & Sep 2009, (84% & 81%). He had 12 months with less than a 55% winning percentage.


I finally got my full refund for ElementalTrader. It took 2-weeks from the time I sent in my request.

I think their main problem is they did not have the infrastructure in place to support their user base. I feel I would still be waiting on my refund if not for a series of chat sessions with support in order to push my refund through their process.

When I finally got their accounting/refund dept to call me on the phone, it was a pleasant and short conversation. There was no pressure for me to continue nor did they attempt to deny my refund. However, I did follow their refund requirements to the detail specified on their website.

Michael -- I recommend you use the "Online Chat" feature. It worked for me.

2011-03-04 No rating
Review: Here's an update on my refund experience with ElementalTrader.

I submitted my request at 12:45 AM on March 2, including faxing a copy of my forex statement, with annotations on each trade as to which harmonic pattern it was based upon.

As of today, Friday afternoon, March 4, no reply. So I went for an online chat with their support dept. They informed me that someone will be calling me to go over my forex statement. When I asked why the phone call, that it was never mentioned in their refund process that is posted online, their reply was it was part of the process

Whilst I was impressed with the demo indicator, webinar to explain and obviously sell you their system.

I have to say I am less than impressed.

I have just sent this support ticket:

Hello,
I would like to apply for a refund. I purchased this system on Fri 25/02/2011 20:33 (welcome email time).
Why a refund?
1. To date your trade finder software page is consistently in a state of being updated/server updates etc... I only have 2 weeks in the first month to evaluate this? If you are constantly updating your server I cannot stand a chance!
2. I have experienced slow customer support so far and my MT4 has been frozen due to timer errors (apparently now fixed?) I have reinstalled latest version... still version 1.5? No change there then.
3. Your email alert service doesn't work. I have never received a timely alert via email.
4. I have persisted to try to use this system but trying to execute trade according to your system is almost impossible. Apart from the first weekly one which is still open in negative.
5. The patterns set up and then move after trade is executed (according to market I suspect) BUT ... that isn't mentioned in your training or videos.
6. You are still showing awaiting videos in your training area.
By far the most untested support, training, system ... I could go on that I have ever purchased!
Trade Finder doesn't work or is VERY delayed. Software is flawed massively.
Please assure me that you honour your advertised refund.

Lets see what happens

I bought the system and on using it realized that patterns can disappear from the charts as they fail, so trying to backtest is unreliable. In real life you get into a trade, the pattern disappears and you are left with a loss, but it doesnt show up on the chart!! Also their help service is very poor. Only 1 response in 6 request and its been 4 days since the last request with no answer.