Complaint Review: Mohan's Day Traders Action

I signed up for Mohan's service about a year ago and have not made any net money despite being on most days.  Mohan claims to provide "precision trading signals" yet many of his signals do not yeild a winning trade.  He also misleads his room by making false statements, such as having all winning days last year, which I can assure you is a false statement. 

One day last year, he kept claiming he could make up the losses the room had accurred during the day, he continued trading to try and recapture losses.  After being down about $10,000, he closed his room and just said, "sorry, I can't make up the losses today".  He couldn't make up the losses that day nor for me, ever.. 

His scheme appears to be based on a reversion to the mean, and when it doesn't work, he claims it is the market that is not "flowing".  He also attributes the failings in his system, to the "riggers", who he believes are the fed, who are manipulating the markets.  Rather than accepting that his strategy doesn't accommodate strongly trending markets. 

Overall, I am completely unhappy with his "Day Traders Action Room" service, and as a vendor, he has failed in a most spectacular fashion.

I put my money into Boomerang in May 2010. Fortunately, I did not place any real money on the line as I wanted to test this system for myself. The signals generated were almost always extremely lagging the market conditions (you'd be chasing trades) and mostly generated throughout the day at reversals, so you get in and get stopped rather quickly. 'So, use it as a counter trend trade signal' right? Nope, doing this you were pretty fair game for market continuations so the software is essentially garbage and signals can easly be duplicated using indicators provided with NT or with readily available 'free' downloads. But who wants to geneate bad signals, even for free :-(   Most disturbing, as one of the reports stated there is plenty of information on Mohan (aka Scott D Wolfe). Yep, do a little searching. This guy was canned by the NFA (pretty reputable organization, you think?) for 10 years in 1996. So, after 2006 he was back in business.

So I ask Scott D Wolfe, have you NO conscience?

Unfortunately this person decided to file a fraudulent report against Day Traders Action, Inc and our long time proven top selling futures trading software known as "Boomerang Day Trader" or "Ultra Boomerang Day Trader"

I am the owner of this company and have a long standing excellent reputation in the futures industry of over 15 years. That is longer than 90% of the trading product vendors in the industry .

We have sold thousands of licenses for our trading products over the last 15 years mostly with NinjaTrader which is a stellar software company with an excellent reputation in the trading industry.

I have never heard of this person "TraderJ", I have no record of any sale of Boomerang Day Trader to him, and I do not have one single record of any email or complaint recieved from him. I challenge him to show me a reciept for Boomerang Day Trader or any evidence of 1 single email that he has sent me.

Of the hundreds of Boomerang software sold over the last 3 years I have not issued one refund except for one person who was 80 years old (he ddn't tell me that when he purchased), had a medical condtion and had to go to the hospital. He showed me proof of his medical condition and I gave him a refund to help defray some of his medical costs.

IE: we have had a tremendous amount of sales of Boomerang with as far as I know ALL HAPPY USERS and no refunds in line with our Guarantee. (see testimonials below)

So clearly this is a Fraudulent Report with slanderous intetions by someone who simply cannot read correctly as I will show below.

1) First he claims that Boomerang Day Trader makes a Guarantee of 90% winning trades based on his sample of 30 trades". 

Our Guarantee of 90% winning trade signals coming from the software is correct and is based on following our simple and exact method/rules for trading. 

He says "but no Guarantee that an individual trader will make 90% winning trades"

This is completely rediculous to think that anyone can guarantee the trading skill or ability of someone to trade the high speed futures markets and to have the intelligence to follow the exact rules, not make stupid mistakes, possibly have the emotional level of a child, or simply not be able to read correctly as this TraderJ clearly cannot.

Here is the exact Guarantee for Boomerang Day Trader prominently posted on the home page of our website at www.boomerangtrader.com .   I invite anyone to read this and come to the same rediculous conclusions as "TraderJ"

...............................

* OUR GUARANTEE: The Ultra Boomerang Day Trader software is guaranteed to make up to +90% winning trades on a sampling of 30 or more sessions on the NQ contract (mini nasdaq futures). This is based on the software’s signals and on very exact and specific rules which are the guidelines for the trade setups. THIS GUARANTEE IS NOT BASED ON ANY INDIVIDUALS ABILITY TO TRADE THE SOFTWARE’S SIGNALS AND FOR SUCH INDIVIDUAL TO BE GUARANTEED TO MAKE 90% WINNING TRADES. Day Traders Action, Inc. cannot guarantee any individual traders skill, experience, emotional strength or weakness or the ability to follow exact rules under fast market conditions. THE GUARANTEE IS BASED ON THE ABILITY OF THE SOFTWARE to generate winning signals combined with the exact, precision rules that are required to be followed to deliver an extreme high degree of winning trade signals.

..................................

You can see that the guarantee is based on 30 SESSIONS and not 30 trades which is a month of trading. The fraudulent complainer got this wrong right off the bat. Didn't even check before filing this rediculous complaint.

Still we get consistent 90% winning signals on a daily, weekly and monthly basis which are demonstrated and proven on OUR FREE BI WEEKLY TRAINING CLASSES.

Again, as mentioned earlier, No One can guarantee the ability of skill level of an individual trader. How could that ever be possible?  Its rediculous.  What if the person who bought Boomerang started trading futures for the first time just a week prior to purchasing Boomerang? How can we guarantee their skill in properly executing trading orders?  What if they are older and have medical condtions which inhibit their ability to trade the high speed futures markets? (we get a few of those sometimes)

All throughout our on going bi weekly free training classes I tell the students that "Futures trading is very high risk and only risk capital should be employed". I then further add over and over that use of Boomerang is not for beginners but for those who have some experience in futures trading. Plus they should have a lot of excess capital to trade futures.

People like "TraderJ" the fruadulent slanderer of myself and Boomerang Day Trader clearly does not have the simple intelligence to read things correctly what to speak of following simple rules for trading the high speed futures markets. So that gives him an excuse to file a frauduent and slanderous claim against a long time, proven and established trading software like Boomerang Day Trader?

In these Boomerang Training classes I go through all the details of the exact Boomerang Trade setups that occured over a certain period of time.  This is the general way in which I teach the classes.   Show how the exact trade setups occur and then go over the trading sessions and show the traders where those occured.

Here is a recent video recording and recap report of the Boomerang setups from 11/18-12/2/2015.  

http://boomerangtrader.com/2015/12/02/ultra-boomerang-training-class-today-415-est-12-02-15/

The Fraudulent Complaint goes on to say "but it wasn't until I purchased it (Boomerang) did I found out all the webinars are done on historical chartss".

Well, this is the most rediculous thing this fraudlent reporting clown has said of all.  How can you possibly attend a Boomerang Training Webinar which are all scheduled AFTER THE MARKET on bi weekly Wednesday's and not know that the charts are not going to be live?  The market is closed and I am recapping 2 weeks or trade setups on many of the training sessions.  How can you show a live chart that was 10 trading sessions ago?   This shows further evidence that this is a Fraudulent Report by a person who has not ever even purchased Boomerang Day Trader or sent me 1 single email with the name "TraderJ".

2) He claims that 

"To make things worse the software I was sold charts all the moving averages differently than the owners, comparing my chart to his at the same exact date and time (second) our moving averages were not even close to being in sync with each other.  "

In late October the Chicago Mecantile Exchange made a major historical shift in the way they distribute data to all the data vendors worldwide that trade the CME's trading products.  There are many data vendors worldwide (over 20 and more) so this was a very big shift for the data vendors.  Some of the data from various vendors was different from the others based on the way each individual data vendor "bundled" their data stream.

If this Fraudulent claimant simply used the same data vendor that I use his charts would have looked exactly like mine.

That is all that would have been required but I NEVER got one single email or complaint from him at that time and I could have easily solved this problem.  More proof that this is a Fraudulent Complaint with the malicious intent to slander our prestigious company and reputation. 

The main point is that Boomerang Day Trader works on ANY active futures, stock or ETF contract and can be used with a variety of time frames.

After this big switch by the CME in the way data was distributed I had a few traders whose data vendors were distribuing their data a bit differently from the majority of vendors.  I offered them all simple solutions to making their charts look like mine such as increasing or decreasing the amount of ticks, swithing to a 1-2 minute chart and other solutions.

Not one single client has had a problem with this and that is another reason why I believe this fellow "TraderJ" is a fraudulent claimant who is simply envious of the great success of my work in the trading industry, Golden reputation and the excellent testimonials of our Boomerang users as shown below.

Here are some recent testimonials from new Boomerang owners.   I will end the report with these.  Feel free to contact me if you have any further questions about this childish, time wastiing report by this fraudulent slanderer.   

Mohan

..........................

THANKS AND HAVE AN ENJOYABLE CHRISTMAS BREAK. IT'S BEEN

A GREAT YEAR AND I CAN'T BELIEVE HOW FORTUNATE I A M

TO HAVE FOUND YOU AND A NEW CAREER IN MY 80TH YEAR.

I WOULDN'T TRADE SHOES WITH ANY OF MY NON PRODUCTIVE

FRIENDS WHO ONLY HAVE FOX NEWS AND GOLF TO LOOK

FORWARD TO EVERY DAY.

CHEERS!

Hi Mohan,

I purchased you system Sun evening.  I traded just the 2 rule system today and missed half the trades but traded 5 to 7  contracts.  My very first day I earned $1365.00 for a $995 dollar investment.  It seems too easy and I know its only my first day but I know it will work.

FD

Thu 12/10/2015

12/10/15

This week I  starting using BDT for live trades and so far I have 3 trades for 3 wins (I’m sticking closely to a money management plan to increase capital).  Thank you for such an excellent system that is very easy to trust and follow

Thank you, ML

 …………………………………………..

10/23/15

Hi Mr. Mohan,

As you know, I just recently purchased your Ultra Boomerang trading system.  Am very happy with this system, best trading system I have ever come across, bar none.

 …………………..

And I absolutely concur with your sentiment…the main idea / goal is for us to get consistent winning trades.   And winning trades I am getting consistently, for the first time…  Ultra-boomerang rocks!

RC

……………………………….

btw   you have the best trading progam on the market  

In a message dated 10/7/2015 9:50:10 A.M. Eastern D

………………………………

Just doing great with your BDT Ultra and Hyperscalp.  I’ve never been so consistently profitable and confident in my trading as I am now using your indicators!  I’m actually looking to close my contracting business of 14 years to be able to trade full time.  A dream come true!

Thanks for all you do.  CL

 ……………………………………

I recently purchased BDT, and am very satisfied with the product.  I am still discovering subtle nuances of the system

DH

……………………………….............

Mohan i just wanted to thank you for sharing boomerang with me, for the past
6 months i have been trading oil (CL) and have been doing awesome , this
week alone i made over $5000 Boomerang is awesome thank you!!

……………………………..

have been watching the training videos over and over, and I am still very busy studying methodically how to read the Ultra boomerang under different types of markets. So far so good, this is the second week I am trading live, with one contract, all trades 100% win. Your trading system is very good.

Thanks again,

CN

…………………………..

Hi Mohan , 

I recently purchased Ultra BDT and so far I am very pleased with the results

………………………………………….

I am just really relieved that boomerang is such a great system you have invented. Today I made $1,085 just doing some demo work.

Thank you for your webinars and your honesty. You have inspired me greatly

………………………………….

Hi Mohan,

>

> I'm encouraged. Used Ultra Boomerang this morning (real money) and

> made $300 in less than an hour - could have been much more, but i'm easing into it.

> Here's my observation, although it's only one day: All the systems I

> developed in the past never worked - they looked good in hind-sight,

> but trying to trade it in realtime was totally different. Today,

> Boomerang gave me very clear signals that allowed me to trade in

> realtime effortlessly, even with today's moving market and also kept

> me out of a little chop

>

> JO

…………………………………………………………..

I have tried a lot of systems over the years and I truly find Boomerang Day Trader and your tech support to be miles ahead of the rest.

You have shown that you are one of the few system trading vendors in the business that wants to maintain their honesty above all else and that why you show the winners as well as the losers in your webinars.

………………………………….

Mohan:

Just wanted to thank you for all the work and time you put in to provide your Boomerang users with a great updated system. Your last two webinars have been great.  I really appreciate that you used the first three days of this week with its high volatility to show how to trade. This week I had 5 winning days in a row with no losing trades at all (I only trade from 6:30 AM PST to about 8AM PST).

 ………………………………

Mohan, I really appreciate all your hard work in developing Ultra Boomerang. I recommend you to others because of your earned reputation and my personal experience with you. I don’t have to tell you about the sharks in the trading arena. I’ve been bit by a few but you have earned my trust and respect. I feel confident that if someone seeks you out based on my recommendation that you will do your best to give them the guidance and tools they need to be successful  MC