I’d like to start out by saying that, although I’ve come to really dislike Anil and agree that he has been scamming people for his course, I don’t think that he has been doing it intentionally. I do think he wants people to be successful and he does give his time to people who ask for help. He is somewhat of an arrogant man, and potentially narcissistic to pull of scam. He loves the adoration of his noob traders and he truly thinks that he possesses the best and ONLY method to make money trading. Because he truly thinks this way, he therefore legitimately wants everyone to purchase his course to ‘help’ them, everything else is a scam in his eyes, since nothing else works except his method. I truly think he views it this way, and because of his huge ego he is unable to see the truth in his own track record with trading.

I don’t think he is selling a phony course, but he’s not selling a great course, all the information you can find for free elsewhere. His secret MACD thing is all he’s really charging for, and it’s not really his trademarked intellectual property like he claims it to be. How can a wave, or indicator, or interpretation of an indicator be anyone’s intellectual property? Classic Anil ego.

As you’re probably aware, you start off by paying a lot of money for his course, it was $3,400 in my currency after conversion for a 6 week course. It sounds like you’re getting your money’s worth, but it could be taught in less time. If you’ve watched the weekly outlook you’ve probably noticed that Anil has a tendency to ‘talk’, a lot, and then keep talking, whether it is relevant to the initial subject matter or not. If you ask him nicely to return to the subject matter he doesn’t take kindly to that, since it’s his stage and everyone must listen to whatever will spew out of his mouth. Politics, trolls, Trump, anything goes.

He believes that all of his lessons should be just the charts, no powerpoint or dot points, as you need to get to know the charts. That sounds reasonable enough, but Anil also doesn’t allow you to take notes during his lessons (control freak) because he thinks it’s a distraction, maybe it is for some, but that’s not his place to say. As previously mentioned, Anil can ramble, and he sometimes struggles to cover all the important points and ‘rules’ of the lesson; or he’ll remember a key point right at the end of the lesson. So at the end of the theory you’re wondering how it all fits in. If he just wrote down the few rules and points which were required, then he’d ensure that he covers off on them in a timely and efficient manner. The trendline lessons could be taught in under 30 mins. Mine went for an hour and a half as at the time he was just banned from tradingview and he was was continuously rambling about it and how he doesn’t care etc. So I actually think he’s lazy and can’t be bothered creating a solid course he and his students can follow, there is so much time wasting and confusion because there is no structure. For the money you pay, you should get a lot more! You don’t get a cheat sheet, or the rules which were poorly explained, and you can’t take your own notes!

Anil puts in his 1-2 hours a day (depending how much talking he does) for the first week and the 3rd week only. For the remaining 4 weeks you are assigned to a group where you practice what you have learnt. This also sounds reasonable right? However what often happens is that you’ll be assigned to a group with a trainer who is not even profitable themselves, and can’t even answer questions thrown at them. As long as they appear ‘competent’ with the theory they are good enough to be a trainer! This, in my opinion is not good enough for the money you pay, as you expect to have some mentoring with someone who actually knows what they are doing, and can demonstrate they make money. This also reflects that many traders are not profitable in the group, at the very least the trainers should be! Despite what Anil says, most people in the group lose money. He used to run polls within slack and the results were always the same, most traders aren’t profitable.

Now, there are profitable traders in Anil’s group, he likes to talk them up and he makes it sound like everyone in the group is catching trades in his weekly outlook, however it is all lies. He will regularly say “my traders took this trade” in the weekly outlooks or “my group is all in this trade”. I can honestly say that it is absolute bull shit. There is no place that everyone gets a message saying get in this trade, and everyone does. If there was, do you think he’d also be pointing out all the losing trades “my traders took”? I spent many hours in the trading room and was always looking at everything posted, and there was never a clear cue for everyone to take a trade.

After a year of not being profitable in the group, and working very hard to make it work, I started searching for senior traders to help and guide me, that is the ‘real senior traders’ who are actually making money, not the regular chart posters of the previous course. I’ll say that Anil does appear to respond to requests for help, but I never found him approachable and didn’t like his arrogant vibe so never asked him directly for help.

When I started talking to these traders, it became apparent very quickly that they were successful because they were largely not following Anil’s method. This was a huge wake up call for me as I was fixated on Anil’s method only, as I truly believed it was the answer, even though I was rarely making money. Anil doesn’t allow discussion of any other trading methods. I understand his reasoning for that, as you create a group you want everyone to stick to what was taught so everyone is on the same page. However, if there can be an improvement to the strategy surely it should be shared for the benefit of all? Where the group can test it and ensure it is a solid method? Nope. That won’t happen, so the senior traders don’t contribute, because they have other things on their charts and they’ll get told off by Anil, I’ve seen it first hand and these people I contacted told me the same. All these people I’m speaking of are not active in the group at all, they are all making great money and they don’t care for Anil and the dramas he feeds off of. This is a real shame, because the group is full of great people but they’re all misguided, just like I was.

Anil likes to brag about how he improved on Elliott’s wave counting, but in fact it’s the complete opposite. He claims that with his method everyone has the same count and we all agree on a consensus because of the way the MACD indicates a wave. If you spend a couple of minutes in the trading room or look at the charts posted in the slack group it will become clear very quickly that often people are in disagreement or still trying to work it out, and there are opposing ideas about which way the chart will go, this shouldn’t be the case if what Anil says is true about us all being in agreeance because of his proprietary system.

What you get taught is how to analyse a chart, not how to be a trader. Anil states this many times himself, that he is an analyst, it’s true, that’s what he is. He looks at past price movements and shows you how neatly it all fits in, “look at this wave here, and this pattern here”, but when you’re a trader and you need to forecast live, the waves method he teaches doesn’t work, and you can’t use the MACD real time. He teaches you to filter the MACD to get the right amount of waves, but you cannot do this live, as you will be forever filtering, and you won’t know until the entire move is complete.

Unfortunately Anil runs the group like a dictatorship. It’s just the way he is. He deletes comments he disapproves of, removes people from the group when he sees fit and claims to be giving everyone a fair go. So you’ve got the dictator himself, all hail, guru Mangal! If you don’t worship then you’d better keep quiet or else you’ll be removed quickly. Then you’ve got the worshippers, truly thinking he is the god and will know where the market will move. Most of these guys are new and still think Anil actually knows what he’s talking about. Once they spend enough time in the ill prepared London webinars, with no labelling on his charts and random “here is an impulse, we’ll get another one here” kind of forecasts, they’ll learn soon enough that you can’t make money from them. The majority of the group is inactive, approximately 700 out of ~800, either due to success developing their own method; giving up because they aren’t making money; or moving on to their own slack group (there are plenty of these spin off groups about) where they can freely discuss ideas and not have to deal with dramas in the group.

I’ll admit, I was in the worshipper stage for about 12 months before I eventually awoke to the truth after talking to the senior traders and after continuously getting burned by trades he sprouted in the London webinar as going to be great trades. It’s easy to fall for as the way he speaks, and the confidence and words he uses does give you the impression he ‘knows’ which way the market will go. He’ll never say, ‘look guys, this trade really could go either way at the moment, it’s not clear, don’t trade it”. His version is “either it will go this way, or it will go this way”, not very helpful and clearly shows he doesn’t know.

Anil will likely call me a troll for purely voicing my opinion. If it’s not want he wants to hear, then you’re a troll. Which is actually pretty funny coming from someone who got banned from TradingView because he was trolling the other top contributors. He was being rude and stuck up about his ‘right forecast’ and showing everyone else how ‘wrong’ they were. What an ego and a rude and arrogant person.

If you’re contemplating doing the course, then of course it’s your decision. Maybe it’s just what you need. Like I mentioned, I was pretty well totally new to trading and felt like paying for a course would speed up my trading journey. I did learn a few things, I was taught how to draw a trendline properly, how to draw fib lines, how to spot impulse-correction-impulse and evaluate a chart for waves. I took those things away and use them today, however that’s pretty fundamental charting stuff you can research easily. If you visit the forum on this site you’ll see discussion about Elliott Waves and the original method being superior to what Anil teaches. I’ve been trading for 2 years now and I don’t really even use waves, so don’t ever get fixated on thinking one person has the answer, that set me back a whole year until I realised Anil’s method was a sham.

I truly think that no one can teach you how to trade. You MUST put in the work and look at the charts yourself, over and over. Keep looking at them everyday, you’ll slowly start to see it in a different light and get a feel for how it moves. For me, my trading plan consists of supply and demand; and trend following. ALWAYS go with the trend once you identify one. If you follow Anil’s advice, then you’ll spend all your time trying to pick reversal points hoping to get that big move. Why not go with the trend, you can be wrong, but it’s usually at the end of the trend. I’d rather be right 5 times following a trend and wrong once at the end of the trend, than be wrong 5 times picking reversals and right once and get that ‘big move’ which you’ll close for a small profit! This is what Anil is selling.

Go with this advice and find something which works for you. All the best.

The article was submitted by Bloke from OZ (oldmate) from the section of the website SUBMIT YOUR ARTICLES