The following conversation I had with someone else how was also not happy with the situation and “scared” when I was in the dreaded Mangalov group to learn how he had mastered the elliott wave theory and found the “Holy Grail” but it was not to be as Anil Mangalov has found the “Unholy Grail” to fleece People of their Hard Earned Money$2,500.00
It’s a money machine, i calculated how many members he has in the group. And he has over 500 members.
If you multiply that to the money we are paying then he made already over 1 million.
Some people have probably saved for a few months to pay for the course and then have to spend money for the charting package/funding etc and
probably end up losing their account fast.
We rely on the trainers knowledge to guide us to learn to make to make money, when it goes wrong it is hard to take a loss… but with Anil training it was loss after loss
couple of things that I noticed was when I was in the Group:
1. When you question about the count he would always say its wrong and one has to train again so they get it right.
2. he looked at everything as a flat correction which was confusing for me, I don’t know about the others.
3. no consistency on wave count or if a wave was going to extend what to look for.
4. most reliant on the Macd as his holy Grail of indicators.
5. No respect for other people, he thinks he is the only one who knows the in’s and out’s of trading.
6. I had calculated the same you have done and saw that there was something not right with his method of teaching and false promises that he gave to his members.
IF he had 30,000+ followers then why did he have only about 200-300 likes for his posts which is (1%), he was using his members to stay on the top in trading view.
when he mentioned that his is a 90% accuracy rate I wanted to see what sort of analysis he was using… his result was impressive of the 1st time he
traded the $90,000.00 and turned it to $180,000.00 to get people hooked. Why has he not done anything like that again and now the use of options
trading which he mastered in a couple of days…Lol
These were all Alarm bells… something is not right
He has not mastered his own method and starts teching options to give an edge… it’s a wild goose chase and pissing in the rain… IMHO
Karma
This article has been contributed by Karma from the section “Submit your Articles”
Options is a weirdest one which was given to public as an “recyclyng stop loss”. Nobody was tested that strategy and many of people lost money including Anils AVA account.
It was not an impressive result on $90000 to $180000. If you have time watch the video from his yourtube channel. He had a huge draw down on that account well. As he was lucky, two of his silver trades made 100k for him to recover. Traders can never recover from huge draw down
Great points Karma. I only ever found the London webinars confusing and inconsistent. Flats are totally arbitrary and can be drawn any way Anal sees fit. He does not use MACD consistently and will ignore it when convenient for him. His attitude is totally toxic and has only gotten worse over time.