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I too had the misfortune of dealing with this man Scott Shubert first hand, through his YinYang Scam. After he got my money, he vanished! I can not get on to his site, he does not reply to my emails, and I have no way of contacting him. I wanted to leave my review for Scott Shuberts course. It was the first forex course I tried and it left me confused and not even prepared to make a trade on my own. I started in April The course consists of two aspects.
Online trading videos and a live trading room. Me being a newbie, I took his word for it. The videos are outdated and confusing. I went through them a few times and could not fully grasp the Elliott wave concept. Finally I went to baby pips and for free learned about Elliott wave in a way that made sense.
Also the video directions are outdated. They go through setting up charts on MT4, for instance , and a complicated work around he used to open up more time frames not available on MT4. I spent hours setting this up only to find they do not use this work around anymore.
Instead they use MT5. Scott is an American but now lives somewhere in Asia so he has access to brokers we do not have in the states. I was left with using MT5 for chart analysis and then placing trades on another platform as my only option. Next is an online trading room ran by Scott. This trading room doesn't have exact set times so sometimes I would wake up only to sit there for 30 min to an hour waiting for him to start training.
Also in the 3 months I attended, I never once saw a trade be placed. He runs his trading room 2 times Euro Open and Euro close but I could not attend both due to my time zone and work so when I asked about never seeing a trade placed, he simply said I missed them because I did not attend both times and he was making trades and lots of profit.
Meanwhile , in 4 months I never even learned enough to place a trade in my practice account. When I asked a question, it was never answered fully.
I was told it takes a year or more to understand Elliott wave so to just keep on attending and eventually I will learn. But daily I came away with nothing new. I felt I wasted my time and finally moved on to a trading system where the teacher reviews his trades daily and I was able to place trades on my own within 1 month not 1 year To me Scott's system seems too scattered for my likings. They watch several time frames and dozens of pairs and talk about all the money him and his best students are making but never show trades being made or why.
From my experience, all I saw was analysis on past charts. I tried to make it work but his system is complicated and boring and not for people who want an easy to learn system.
If you have years to try to get a new concept and start making money, maybe this is for you but truly there are much easier ways to learn forex IMO. I took the course a couple years back. I took some screen shots of things to remember also for future reference. The multiple CCI was quite interesting, something i had never seen before. All in all it mades perfect sense to me.
Guppy MMA and multiple time frames is basically what i use. I agree with most of what has been said on here. I bought the course. And being in the daily trading group and receiving alerts of recommended trades. The videos are extremely boring.
He goes on and on about nothing for atlest half the video. Ok so hes not a speaker, but some editing sure could have been used to not waste about 20 hours of useless talking. That said, I learned more from the course than anywhere else before. Most of what was learned could be learned for half the time if he would just get to the point. But all his teaching us looking back at history, no trades made in real time. That's why there is a daily trading group right.
In four months of staying up late for eu session and waking up early for the us session. Not once was there a trade recommendation. He trades on a demo account, never shows how to manage a trade hes in. Just more of the same coulda shoulda woulda. Never received one trade opportunity alert. Sent multiple e mails asking for my password, never got one. Not a single trade recommendation. The dollar a month forum is where he makes his money. I don't know how guys can learn from sitting there for 30 mins without him saying a single word.
I found the trading group to be absolutely uselss and I cancelled it. Practise what you learned in the course on a demo on your own. Not the feel the market bs.
Way way over priced. Learned to trade with some confidence. But I wish I coulda bought just the manual.
And saved my time and money on the useless platinum trading group. It was an absolute joke. I cant say I would recommend it to anyone. I have purchased Scott Shubert's course and have been in the mastermind group.
I have since moved on to learning more in-depth information about trading, but this course gave me a real basis to learn what trading is really about and the attitude and mindset one needs to begin developing in order to be successful.
I have been a trader long enough that when I hear someone talk about how trading "is a zero sum game", I already know I am dealing with someone who has no idea what trading is about and is simply parroting what the vast number of failures say to excuse their inability to make money trading. For the retail trader, liquidity is never an issue. That, combined with the regulations that have been put in place over the past few years and the proliferation of "no dealing desk" brokers, the trades you make are either with the market or against it.
Nothing more, nothing less. No "manipulation" to blame. It is now rare that you have brokers that do some of the manipulation that was commonplace in years past. And if you encounter shady brokers, then there is only one answer. Find another broker who deals squarely. They are not hard to find. The market goes up and down the same for everyone, so pretending like "it's the broker's fault I lost money" is laughable and is the sure sign of a two-pump chump who opened a live account before learning to trade profitably and lost some hard-to-come-by money.
Anyone who thinks that the forex market is some "conspiracy" with a "stacked deck" doesn't know what the heck they are talking about. And they also need to quit hanging out at trader forums with the other losers and half-wits who talk negatively all day frustrated because they can't find the silver bullet that doesn't exist anyway.
There is a body of knowledge regarding trading that most people who enter the trading game never discover because A - they don't stick with it long enough to get the knowledge or B - they came into trading as a "get rich quick" game of chance and were doomed to fail from the beginning because of that viewpoint. Anyway, losers are losers and winners are winners. If one person can be profitable trading, so can you.
The main difference between the winners and the losers is their overall attitude - mainly the determination to succeed.
Mainly because their general mindset is they they want and expect something for nothing. They always cry and whine about "being able to find it for free". Buddy if that was the case, a hugely greater percentage of those who opened a live account would be swimming in Rolexes, Bentleys and Laguna Beach mansions. As with any course please search online and hopefully you will find a free download: One of the Malaysian forums was excelent in that regard for getting reviews and reading about these "holy grails" and you could find almost any course there.
As for the course, I bought the original version back then it was cheaper and had bunch of DVDs, later the course was updated, but did not find much useful info there either. Scott's idea was to use multiple MA moving averages and Elliot Wave and somehow it should lead to great entries and exits. Problem is as usual it looks great in the past, but live it will not help you. I was in the paid webinar too, but no entries and exits were called, although multiple analyses was given on PAST data.
Unfortunetly you can't trade on past data. As with anything most members and testinomials claim success, but nothing to prove it!More...