Too much theory not put into practice, ICT can't trade, Manipulates peoples emotions
Lots of promises were made at the start and lots left to be wanted. I was rather new to trading and was hoping this would be the course where I wouldn't be scammed and learn to actually trade.
My review of this course will be based on the course material, ability of Michael to trade and the teacher Michael himself.
Most of the Price Action stuff is basically Supply and Demand stuff. The Course Material was a rehash of 95% of the free stuff but just dragged out over a 12 month period, this was confirmed by Michael himself, and as such there is no real reason to pay for the mentorship if you have time to go through the free stuff. He says that the mentorship cuts out all the fluff and random topics, but I promise you many of the videos will be 2 hours long with 10-20 minutes of actual content and Michael talking about his kids soccer games, how his wife is hating him for doing this, how he's a one man team doing this alone etc (solution: Why not hire an admin?). There is an enormous amount of theory with some good lessons and some not so good, but ideally what everybody wanted was for you to actually apply the theory so we can see how it is done. He only ever applies 5% of the theory if that and the rest you wonder why did he ever add this in? Things like IPDA data ranges where he promised in January and February he would put into practice every single day was never done. Which leads me to believe he just made this concept up to fluff up his mentorship. The only months with actual new content was January the rest of the months he has taught before in the free content, but to be fair. Commodities, Stocks and Bonds had some new stuff, but the commodities and stocks is mostly based of the books 'How I made a million dollars trading commodities' by Larry Williams and the popular 'CANSLIM' method. I would not recommend these months as you can probably find an actual mentor in these methods who would actually show you how they day trade these markets instead of just ICT spouting theory and never seeing it used in practice.
In summary there's too much chaff to separate from the wheat.
The Ability of Michael to Trade
Now this is where Michael fails big time. He cannot trade, this was shown in the mentorship. In the initial 3 months of Sep - Nov ICT had some good demo wins and managed to show a good equity increase in his account. After Christmas he told everybody to start a myfxbook and he will start one too to log his progress. Well when he started to lose he deleted his demo accounts and also the myfxbook was never mentioned again. He would also never show his demo account balance in his videos there after either.
He started a Robbins contest proclaiming to the world he would win it despite the us mentees telling him not to as he should be focusing on us and not on winning a robbins cup, but against wisdom he carried on, because he wanted publicity for when at the time he wanted to start a signal service. However as we all know he failed miserably, never even made it onto the leader board, -60% drawdown in the first 2 months and deleted his twitter promising never to return onto Twitter.
For the rest of the mentorship he had promised us many examples of OSOK's, Daytrades and Scalps. Well there were 3 OSOK's in the whole mentorship with the rest of them being day trades and scalps whereby most of them were unsuccessful. The one good thing was he did show how to cut losers early before the full stop was hit.
Michael in General
Michael tells a lot of lies, and emotionally manipulates people into staying in the mentorship.
List of Lies:
Will never charge Money.
Only one mentorship.
Quit Twitter forever.
Win Robbins Cup.
He has a good understanding of human psychology and the fear of missing out. When people were dropping out of the mentorship many times he would say I am not forcing people to stay but those that left are 'missing out on an opportunity of a lifetime'. You can even see it now with the free videos he is releasing, in the free videos he promises it like that the new free videos are all that the newbs will ever need, however in the mentorship videos he would state that they will never get it, he is leading them with a better understanding of price action but it's not the whole picture and they will never be profitable, whereby he is basically leading them into his 2018 mentorship like 'good little sheep' which is one of ICT's favourite analogy.
In another video of the mentorship he even admits he could have done the mentorship in a significantly shorter amount of time, however he knew that there will be some smart people who will understand the needed concepts and just leave before it was over.
The mega trades month (11) was just a rehash of previous months topics and month (12) was just bad. He promised the final pdf will bring everything together but it was just a rehash of his previous pdf's. At the start of the mentorship he promised that the final pdf will be like a flow chart and be plug and play, and in the final month he said the pdf will not be plug and play.
In one of the threads started now post mentorship a poll was conducted and 92% of the members are still confused and feel hopeless with trading post mentorship.
As somebody who has been through the mentorship, I feel I could have done worse and paid for a more expensive course that is true, however I spent 12 months on something which was mostly theory, not practical and watching the teacher flounder about on 20 pip scalps Mon-Fri is not beneficial for my learning.
This is not to say I don't think there is any validity in ICT concepts I think there is, just look at some of his students who trade well with them. It is just that ICT cannot trade them and he is an abysmal teacher who gets sidetracked too easily and starts talking about his family.
Reply by ICT Michael submitted Dec 15, 2017:
I have no way of telling if you are a verified Member and who isn't on this website. However, you clearly have a lot of negative things to say and it took this long to post it?
The dead give away is your post concerning any -60% drawdown on any account by me. You are clearly a Troll and have only the interest in spreading lies. Majority of the time active study over charts is encouraged and not Trading.
This website should be forced to verify Membership to things they give reviews on. I can accept a Member not being happy about not being given signals that were not promised. You cite a supposed lie that I would never charge... and yet you are posting that you were a Member of my group? Why did you pay if you felt I was a liar?
Sorry your review is too suspect for me to waste any more time on.