I bought a 1-week trial to his room, and only went for 2 days. About 50% of the time he was dead-on, on the support/resistence he posted at the beginning of the day, but his method didn't agree with me. He scalped for .25 - .50 points. I personally only like to trade with the trend. His stop losses were 1.5 - 2 points. Does this even make sense? "Look for .25 on a trade but keep your stop-loss to 2 points" LoL I didn't know that he had a lawsuit on him. He still heavily promotes his chatroom and webinar ($700), he even asked me to send a written+audio testamonial *with* my picture. YEAH RIGHT!
I also had a trial with Matrix- and out of all the rooms I tried (LBR, Pearson...) his was by far the most accurate, and had clear entries and exits posted well in advance. I felt I could make money with them; except that he was a bit stingy on explaining how his system worked - and I can't just follow someone without knowing why. I was amazed when I found about that CTFc ruling a couple of weeks ago.
Mohan is "standing aside" until he gets a clue. It looks like he needs to blaze a new trail! Anybody see this?
Check this out for original "Trailblazer" (ie Floor Trader). Thanks to NQoos for the great site. http://nqoos.com/FloorTraderMethod.htm
I was surprised to hear that Mohan has been managing other people's money. Mohan's real name is Scott D. Wolfe, and NFA records show that pursuant to an NFA order in 1996, that person was barred from registering with the NFA or acting as a CTA for 10 years. See: http://www.nfa.futures.org/BasicNet/case.aspx?case=95BCC00018&entityid=0236622&contrib=NFA . I assume this person and Mohan are one and the same. Presumably, managing $1 million of other people's money would require registration as a CTA. It is possible that Mohan's giving trading advice over the internet would in itself be a breach of the NFA order. I suppose any person who invested in Mohan's trading pool and who has lost money would have a claim against him for reimbursement of such losses, particularly if the NFA action was never disclosed to them by Mohan. As far as Mohan's newsletter is concerned, I had similar problems with his daily calls as those expressed by others in this thread. I was a subscriber from August, 2002 thru October, 2003. During that time I noticed that his daily call was usually wrong and I even once sent him an email asking him to eliminate it. He wrote back basically telling me to get lost, saying that his daily call is the one thing most valued by his subscribers, including major institutional traders. His claim that his newsletter gave consistently "unhedged" directional calls was truly a misrepresentation. The following are examples of "unhedged" and "hedged" calls: Unhedged: "The market is short. Sell at XX and exit at XX. Put your stop at XX." Hedged (Mohan's style): "The market should go down tomorrow. However, if it doesn't go down, it probably will go up. Sell at XX if the price exceeds that price by YY points OR buy at XX if the market exceeds that price by ZZ points. If you are confused, please don't worry. I'll point out what you should have done today in tomorrow's newsletter." I remember one day in April of 2003 when the market was in the early stages of what turned out to be (so far) a year long rally. During that day the intraday pattern was clearly long, although a bit choppy early on. Mohan sent out an intraday email saying he had reliable sources telling him the market was going to tank. It then proceeded to rally nearly 10 handles. He never sent out one of those intraday emails again. Having said all this, I did find his numbers useful. Although his buy and sell pivots were usually within a point of traditionally calculated R1 and S1 numbers (using the daily pivot formula), I did find his value area numbers of some use, but not enough to justify renewal of my subscription.