Day Traders Action and Boomerang Trader

Day Traders Action and Boomerang Day Trader
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Summary

Boomerang Day Trader and Mohan’s Day Traders Action are owned and operated by Scott Wolfe, also known as Mohan. A lifelong hustler and connoisseur of all things get-rich-quick.

After a long and sordid career of selling bogus investments in various boiler rooms, and running afoul of various regulatory agencies, Scott Wolfe ditched his real name and took on the name of ‘Mohan’, a new age financial guru. For the past 16 years, he has been peddling all manner of day trading nonsense, magical trading indicators, and claims of massive profits.

A reputation so terrible and sullen that even the paragon of virtue known as the Ninja Trader Ecosystem could not bear his presence.

Claims to have gained ancient financial wisdom from a 130-year-old religious mystic while wandering through a magical forest in India. Pure nonsense from a lifelong con artist.

Pros: Nothing to recommend.
Cons: Pure nonsense from a lifelong con artist. Magical trading indicators claiming 90% winning trades, all guaranteed. No track record. Claiming students are making $200k to $400k per year. Zero proof.

Thanks for reading today’s review of Day Traders Action and Boomerang Trader

What is Day Traders Action and Boomerang Day Trader? The company occupies two websites: DayTradersAction.com and BoomerangTrader.com.

DayTradersAction

Scott Wolfe aka Mohan

The business is owned by a person that goes by the name, Mohan Das. But this is not his real name. His real name is Scott Wolfe.

The companies are offering the following products and services:

  • Boomerang Day Trader Software $1,195.
  • Day Traders Action Live Trading Room $249 per month.

The company maintains the following social media profiles:

Who is Scott Wolf? Also known as ‘Mohan Das’

A review of various regulatory websites revealed the following:

The Cease and Desist Order was for selling a fraudulent limited partnership investment in a company named Interlink Fiber Optic Partners Limited. The owner of Interlink Fiber Optic Partners Limited was sent to Federal Prison for defrauding investors out of $12 million dollars. These investments were typically sold in boiler rooms and Scott Wolfe appears to be one of the salespersons involved in the scheme.

  • Another Cease And Desist Order from the Kansas Securities Commissioner (1993)

This Cease and Desist Order was for selling fraudulent wireless TV licenses through a company named American Wireless TV Franchise. The scam revolved around selling supposed licenses for wireless TV stations. Investors lost between $25 million to $50 million dollars.

Scott Wolfe aka ‘Mohan Das’ was also charged by the National Futures Association (NFA) with a slew of various complaints regarding his supposed trading performance.

Apparently, he was using hypothetical trading results in a deceptive manner with the goal of raising money from investors for his trading program. The NFA filed a complaint and Scott Wolfe accepted a settlement offer where he permanently withdrew from NFA membership and agreed to leave the Futures industry for a minimum period of 10 years.

Scott Wolfe reinvents himself into the financial guru known as ‘The Mohan’

After Scott Wolfe was bounced out of the NFA, and the subsequent stain of selling various shady investments, it appears that Scott Wolfe decided to ditch his birth name altogether…and take on the name of ‘Mohan’. What in the hell is a Mohan? Well, after a good deal of research and investigation, it appears that Mohan made his debut to the financial community in 1999.

Apparently, many years ago, while Scott was making a spiritual journey deep into the jungles of Orissa, India, he came across a very old Indian holy man. This Indian holy man was 130 years old, and a master in the mystical and ancient art of Vedic wisdom. This holy man became enchanted with Scott. And they formed a spiritual and mystical connection that transcended time and space. This 130-year-old, Indian holy man was so enchanted with Scott’s chakra that he bestowed upon Scott the new name of ‘Mohan’. Which is interpreted as “mysterious and enchanting.”

After returning from the wild jungles of India, and avoiding quite a few bloodthirsty tigers, Mohan decided to apply his Vedic wisdom to the financial markets. Which of course quickly returned a 400% annual return.

Heeding the call of the 130-year-old Indian mystic, Mohan decided to bestow a generous gift to humanity. He would reveal the ancient Vedic wisdom in the form of trading indicators that could be purchased for several thousands of dollars.

What exactly is Mohan selling?

At the core, Scott Wolfe aka Mohan is selling an indicator package at $1,195. And Scott is making some wonderful claims about his trading indicators. The following are some of those claims:

  1. Boomerang Day Trader is the most widely used trading software in the world.
  2. Boomerang Day Trader software trades all financial markets and is guaranteed to produce 90% winning trades.
  3. Most users of Boomerang Day Trader software are currently earning between $200,000 to $400,000 per year. With ease.
  4. Software is currently being used by many Hedge Funds to produce stellar returns.

Reaching out to Mohan

TradingSchools.org reached out to Scott Wolfe during the months of November and December in an attempt to verify the amazing performance claims of 90% winners, claims that Mohan is a professional day trader and authentication that most users of the software are earning $200k to $400k per year.

All emails that were sent from the TradingSchools.org email address were ignored. All emails contain tracking links, so we could watch in real time as Mohan nervously opened the emails and promptly deleted.

However, the emails that were sent from anonymous email addresses were promptly answered. I call these the “sheep” emails. This is where I contact the vendor and act like a complete newbie looking to learn the secrets of day trading. The Mohan was only too happy to help me learn his mystical trading secrets. I just needed to purchase the magic indicators, which of course are guaranteed to produce 90% winners.

Boomerang Day Trader

The sheep emails are always fun because once the trading vendor thinks he is close to getting the sale, I will counter with ‘just one more thing’. My ‘just one more thing’ is the last step in the journey. This is the part where I ask for some sort of proof that the vendor can trade profitably. And predictably, with the Mohan, he can provide absolutely no proof that he even has a trading account. However, he was more than willing to send me a shit-load of customer testimonials that verify the amazing profits that I am about to achieve. A total joke.

Kudos to Ninja Trader

In the past couple of years, I have been extremely critical of Ninja Trader. Specifically, the Ninja Trader Ecosystem which has provided a platform in which many trading scams have been launched. However, it appears that after promoting Scott ‘Mohan’ Wolfe for a number of years, they had finally had enough with the complaints and decided to scrub him from the list of approved educators.

In the past year, TradingSchools.org has had a series of constructive conversations with the ownership of NinjaTrader in regards to the Ninja Trader Education Ecosystem. They revealed a series of safeguards and additional protocols to reduce the amount of fraud and misrepresentation. Definitely a move in the right direction. And they deserve some credit for this.

Wrapping things up

I wanted to wrap this review up with a big thanks to various readers that contacted TradingSchools.org directly and helped put together a clear picture of Scott ‘Mohan’ Wolfe. Without the help of the community, this review would not have been possible. The truth is that Scott ‘Mohan’ Wolfe has been hustling people for nearly his entire life. The two websites mentioned in this review are just the active websites the Scott has been recently using to hustle his magic trading indicators. There are several other ‘Mohan’ websites that are now defunct, and which several readers complained of losing thousands of dollars. Some of Scott’s prior scams include MohansMarketForce.com, 21stCenturyFutures.com, and Mohan’s Scalp Trader.

As always, thanks for reading. And don’t forget to leave a comment below.

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doug Matchell
doug Matchell
2 years ago

Read this review as I have on others and am not sure why you say Boomerang is a scam – he has allowed folks to take free trails and has explained the system and promises to win consistently if you follow the rules. weather mohan can trade himself or not doesn’t matter, thats what I hate about this site you leave to many factors out. If Boomerang system provides an edge in the markets or not to some one who can follow the rules should be the the review, not mohans back ground or personal trading record or account, as with any system or indicators being sold. He teaches the rules to all about his system, if he didn’t do that than yes he would be a scammer of sort. This was not a informative review of this system, disappointing to say the least. Please review systems edges and not peoples past or their ability to trade cause its irrelevant. Traders need to see what has an edge in the markets, your site could really be of help to those who want to make money consistently, not dive into drama.

suskind
suskind
2 years ago
Reply to  doug Matchell

“promises to win consistently if you follow the rules….” HAHAHA!! does he promise to cover your losses? A person’s character matters to me if I’m going to hand him my hard earned cash. He lies. I know…..I joined his daily trade room with a broker auto trading my account based on his “25 years of experience” and “95% guaranteed winning trades” – after a few weeks he blew out 50% of the account before I told the broker to stop.

Thomas Edwards
Thomas Edwards
2 years ago
Reply to  doug Matchell

I am a user of the Boomerang system and some of the add on indicators. They work, but you have to maintain discipline, focus and yes follow a set of specific rules / guidelines. I have tried the Day Traders Live trading room, but honestly only traded in SIM and was not impressed with the results. They trading done in the Live room is totally different that what the Boomerang system does. He uses different indicators to recommend long or short positions and when the market goes against him he blames the Fed Riggers. This may be valid, but how much of your account are you willing to lose with this approach. Even with a good system like Boomerang day trading is tough. It requires many hours of screen time and ability to control emotions of fear and greed. I would recommend the Boomerang system but caution new traders to only trade in SIM for the first 60 – 90 days until you prove you can be a consistent successful trader.

dtchurn
dtchurn
1 year ago
Reply to  doug Matchell

That’s just bull. If Mohan’s bommerang and other methods worked better than a coin toss he would be trading them himself, not continuing his life long con of duping monthly new newbs for a monthy churn. It’s annoying to see the same crap in his spam email every week. +$xxx, +$xxx, yadda. Where are the losers, where are the lifetime millions. Fact is there is no live account trading probably since ’99, You look at the crappy nt7 indicator screenshots of boomerang in the latest spam email, and it’s obvious he just joined bigmike’s early on since 2009 then downloaded the indicators there , modified and repackaged them to scam sell them to new monthly dupes. Disgusting, and way too old and lazy ass obsolete looking now.

Mohan
3 years ago

IMPORTANT UPDATE: PLEASE READ MY IMPORTANT UPDATE ON THIS FAKE NEWS, FRAUDULENT POST ABOUT OUR RESPECTED SERVICES…

Located under “Futures Trading Rooms”

Chris
Chris
3 years ago

I am a new trader and have been using Boomerang relatively successfully off and on for a couple of years. I went in with my eyes wide open and being a naturally suspicious person nothing you commented on Re: Mohan surprises me however I am getting ahead with Boomerang. Was wondering if you actually sat down with the system, followed the rules and made an unbiased assessment of how it works?… would like to hear your opinion on that…

dont believe
dont believe
3 years ago

Mohan i heard warren buffet wants you to take over his portfolio” cause you are that f’ing good” your just another pos furu

Mohan
3 years ago

FAKE NEWS REBUTAL ….by Mohan (almost done…the fake story about me was very long and sordid)

Now here are his worst, fraudulent made up claims against me of which the editor has no proof that I have ever made such statements.

The fabricated article states:
At the core, Scott Wolfe aka Mohan is selling an indicator package at $1,195. And Scott is making some wonderful claims about his trading indicators. The following are some of those claims:
1. Boomerang Day Trader is the most widely used trading software in the world.
2. Boomerang Day Trader software trades all financial markets and is guaranteed to produce 90% winning trades.
3. Most users of Boomerang Day Trader software are currently earning between $200,000 to $400,000 per year. With ease.
4. Software is currently being used by many Hedge Funds to produce stellar returns.

The above is all made up out of thin air, not posted on any of my sites and completely false. Here are my corrections which can be seen on the Boomerang site.

1) Boomerang Day Trader is indeed ONE OF THE MOST widely used software around. Not “The” most widely used.

2) Yes, Boomerang Day Trader will work on all futures, stocks, and ETFs in any time frame but we do NOT Guarantee 90% WINNING TRADES on all contracts but select ones as stated in the Guarantee. This fellow who wrote the fraudulent article did not even bother to read our Guarantee. DIDN’T EVEN READ IT…just lie and fabricate a negative review. Read the Guarantee and you will see It is only for select contracts AND is based on 90% winning TRADE SIGNALS….not winning trades.
No one can guarantee the ability of some trader to follow rules correctly. But like a new automobile that the company guarantees will work, but doesnt guarantee you won’t crash it….I guarantee Boomerang software wil produce 90% winning TRADE SIGNALS following the exact method/rules. I for the life of me cannot see why this is so hard to understand.
You can read the guarantee at http://www.boomerangtrader.com on the home page

3) Now here is where the fake news article goes off the rails making completely fraudulent statements. “Most users of Boomerang are making $200K-400K” give me a break. I have never stated this anywhere on our websites. It’s ridiculous. Then he adds his “with ease” on the end to just reduce his reporting credibility even more. Very creepy.
4) I have never stated this at all. “Used by many hedge funds to make stellar returns”..This the most rediculous one of all. A complete fabrication made up by the author to show his total lack of research of my trading work. There is nothing even close to this statement on any of my websites. Sure, I have had traders buy Boomerang and tell me they are working with a hedge fund. That’s great and I hope they like it.

There is great proof here dear readers of this TradingSchool site… that the author of this hit piece against me is just making up lies to slander me and try to attack my trading.

I am just not sure why. He seems like a nice guy. I never heard from him. I had a long time client email me and tell me this was out. Otherwise, I would have probably never seen it. Very weird to see this after 16 years of mostly very happy and satisfied customers with my work. Hey, this is futures trading….traders lose money ….happens all the time. You give em a good system like Boomerang, the whipsaw choppy market periods come in , they lose some money and all of a sudden its “all Boomerang and Mohan’s fault”. No one has asked for a refund since I started the Guarantee in late 2014 because they thought that Boomerang didn’t produce 90% winning trade signals on NQ and CL.
I had one woman call and ask for a refund because she said her husband recently purchased it and had died. She needed the money. I asked her the name of her husband and I recognized his order. I have never talked to any customers on the phone…Ever…in 16 years. I don’t sell or push or cajole anyone to Buy Boomerang. Never have with any of our extremly low cost services.

We offer traders Free bi weekly webinars where I go over all the trade setups on Boomerang Day Trader usually on mini Nasdaq and Crude Oil contracts.

On occasion I will do a 2 week period audit of the exact setups that occurred on the software using our very exact and specific method for trading . Several of these are recorded on the blog site. I do this in front of a large audience of attendees and they are welcome to ask questions or comment on any of the trade setups we show.

We have over a thousand traders ++ that LOVE Boomerang. Sometimes I send select inquiries a list of testimonials. There are too many to keep track of. They come in weekly. I can supply these to anyone who asks. I don’t post them on any of our websites.

This is our way of showing the Track Record of Boomerang Day trader 90% winning Trade Setups. Traders love it. We have some live tapes too. that is how I chose to offer Boomerang. That is up to me and not up to anyone else to try and demand for some agenda.

Thank you for reading my rebutal. I hope you had a nice Christmas and a Happy New year.
Best wishes, Mohan

dtchurn
dtchurn
3 years ago
Reply to  Mohan

Maybe you haven’t read the other reviews. TS is a totally different standard than the old so called trading review sites where shill smog always fills the room. Testimonials are not enough “proof”. TS has a history of asking for actual statements or tax returns. 99.9% can’t show proof because they get income stream from the monthly churn and have stopped trading live for years since they could just sell education and indicators. A good example was SoT where the CFTC found out their last live real trading was years ago at a big loss. And “90% winning trades” on “select” contracts. How does even make sense? How can any system be that good and be for sale publicly? The odds are far against that kind of claim. Emmett has said he has saved copies of the boomerang site. So at this point having archive.org purge their cache copies of the site won’t do any good now.

Mohan
3 years ago
Reply to  dtchurn

FROM MOHAN:
This is my last comment on this slanderous, bigoted hit piece. you wrote about me all filled with lies, fabrications and goofy tabloid style writing without even speaking to me first.

I proved in my posts above that you fabricated this article for some strange agenda that you appear to have.
Who cares….no one with any brains reads this site again after seeing the lies you try to spread about our work.

You guys are idiots. You don”t get it. I have already explained that there are well over 1000+ happy Boomerang Day Trader clients who love the product and trade with it many using it everyday.

Listen carefully: I OFFER A TRADING SOFTWARE …we are not talking about a trading room here. There are absolutely NO claims of “big profits, big gains” or any such thing anywhere on my sites.

The software delivers proven 90% winning TRADE SIGNALS COMING FROM THE SOFTWARE ….not “90% winning trades”… there is a very huge distinction between the two that you cannot seem to recognize and understand.

Hello: 90% WINNING SIGNALS COME FROM THE SOFTWARE ON SELECT CONTRACTS FOLLOWING THE EXACT METHOD/RULES.
No one can guarantee someone will take those software signals and make a winning trade. That is stated in our guarantee. But of course you run this comment but you haven’t even read the guarantee on my site.

We cannot guarantee people without brains can take the 90% WINNING TRADE SIGNALS COMING FROM THE SOFTWARE AND TURN THOSE INTO WINNING TRADES IF THEY DON’T LISTEN, READ, STUDY, LEARN AND FOLLOW THE METHOD/RULES, drink booze while trading, talk on the phone while trading, have emotional problems about trading (like the people on this site) etc.

It doesn’t even matter if the person who develops a software trades or not IF THE SOFTWARE PRODUCES 90% WINNING TRADE SIGNALS. Its a product THAT WORKS VERY WELL that traders use to trade the markets with.
Why can’t you understand this simple thing ?

When you buy a new car they GUARANTEE THAT THE CAR WILL WORK, they will usually give you a nice warranty, but they cannot guarantee that you will not drive the car wrong or have an on going car smash into the car and get in a crash or accident. How could any new car dealer possibly guarantee that? But they DO Guarantee the car will work and run as stated.

If a person sees from coming to my webinars that indeed the Boomerang software produces 90% winning trade signals average over a 30 day period of time as per the guarantee and they can align themselves with 2-4 winning trades a day they can do very well in this business.

BUT WE DO NOT GUARANTEE THAT NOR DO WE SAY ANYWHERE ON OUR SITES THAT BOOMERANG WILL ABSOLUTELY PRODUCE PROFITS OR MAKE “BIG GAINS IN THE MARKET” or other such nonsense like the frauds you do expose here on the site.

YOU GOT IT WRONG WITH ME AND I PROVED THAT. But rather than appologize and remove this garbage hit piece you keep running the same tape about “send me your statements” and all that crap. This does not apply to what I am offering in the futures industry. ITS A SOFTWARE YOU IDIOTS…..and it works very, very well as evidenced by our many, many happy customers around the globe.

ITS A PRODUCT THAT WORKS and the traders who purchased Boomerang are happy with it. Otherwise, it would not be still selling actively over the last 7 years.

What is this so hard for you to figure out?

Our over 1000+ Boomerang owners have discovered various ways to trade using the software’s TRADE SIGNALS and are very happy with the SOFTWARE PRODUCT except of course for the few that just cannot trade the markets no matter what tools they have.
Those types just go and lurk on a website like this one and cry about how bad things are…because they cannot make money from trading….like you guys.

Why not just go find a real job and make some money. Or even better really learn to trade. However, you are not welcome to use any of our products or services until this stupid, false hit piece about our services is permanently removed.

AGAIN: THIS IS A SOFTWARE…..IT DOESN’T MATTER IF THERE IS SOMEONES TRADING RECORD…MINE OR ANY OF THE MANY CLIENTS WHO HAVE SUBMITTED SUCH RECORDS TO ME OF THEIR SUCCESS.
IT IS A PRODUCT THAT WORKS…. Why is this so hard for you clowns to understand this?

The vast majority of Boomerang owners are very happy clients. BOOMERANG DAY TRADER SOFTWARE WOULD NOT HAVE BEEN AROUND FOR 7 YEARS AND BEEN ONE OF THE TOP SELLING SOFTWARE FOR DAY TRADING IF IT DIDN’T WORK AS STATED ON OUR WEBSITES AND PROVEN IN OUR BI WEEKLY FREE TRAINING CLASSES……no way!

I understand asking for a track record or brokerage statement IF SOMEONE IS BRAGGING ABOUT MAKING BIG, BIG PROFITS IN THEIR TRADING ROOM….

There is no where on any of my sites where I brag about Boomerang Day Trader making big, big profits. It is the first day trading software in the history of the markets that offers a Guarantee of 90% winning TRADE SIGNALS COMING FROM THE SOFTWARE FOLLOWING THE EXACT, SPECIFIC METHOOLOGY/RULES. ON SELECT CONTRACTS

You say….”on select contracts how does that even make sense?”

Well all of our thousand + Boomerang owners didnt have any problem understanding that. Again,, the problem is you make these stupid comments but you haven’t even gone to my site, watched any of the training videos or researched anything. Yet you expose your own foolishness in making such a comment.

This TradingSchools site published this disgusting pack of lies hit piece. I have already proven that it is a Fraud, Hoax, FAKE NEWS piece written by PEOPLE WHO DO NOT TRADE AND HAVE NEVER TRADED THE FUTURES MARKET ON AN ON GOING, STEADY BASIS…..

** READERS OF THIS POST SHOULD BE AWARE OF THE FRAUD GOING ON HERE AT TRADING SCHOOLS WEBSITE. They are attacking my highly respected trading services by making up lies, false claims, fake reports …everything they claim to be opposed to in the fake trading rooms.

Disgusting and they will not appologize after being exposed or remove the FAKE NEWS HIT PIECE

So congratulations….Frauds pretending to expose frauds…..NONE OF WHO REALLY TRADE…..

This is my last comment on this idiocy.

kenneth
kenneth
3 years ago
Reply to  Mohan

your style of posting makes you come off as a mad man – and the claims in the posts re-enforces that perception.

Stray Dog
Stray Dog
3 years ago
Reply to  Mohan

Scott/Mohan, You have not proven anything except that you are skilled at distorting the truth, muddying the water and lying. You also come off as being mentally unstable. The website that you said verified your 90% correct trade signals is owned by you. You verified your own product, that’s not verification. You also “verified” this success rate by looking at what the market did over a period of time and then designed the product to trade those conditions. You have not proven that the software trades future market action. It’s like me watching a horse race and then saying I would have bet on the winner. Utter nonsense which anyone reading your posts can work out for themselves.

Rob B
Rob B
3 years ago
Reply to  Mohan

That has to be the most fact less insane post I have read yet on this site. All I can say is you must be having problems making your next mortgage payment by not being able to con as many people.

And the Funny thing is Emmett just asked you to prove you could trade profitable for a mere month. Which BTW is also insane IMHO.

rtchoke
rtchoke
3 years ago
Reply to  Rob B

Maybe it’s me, but here’s something I just don’t understand. Maybe someone can clarify. What is a “winning trade SIGNAL”. To me, that could mean 1 tick and it’s a winner. Without a winning “TRADE”, what good is a winning “SIGNAL”. How’s that supposed to work? I get the signal and then I figure out my own way to get the winning Trade? Hmmm. Winning Signal v. Winning Trade. Maybe that’s why Emmett is asking for some sort of further proof. Trading for 15 years I figured I’d heard it all. Guess not. Help me someone, please.

dtchurn
dtchurn
3 years ago
Reply to  rtchoke

I was wondering about that too, his trying to change the wording of the “guarantee” to 90% ‘signals’ instead of trades. Makes as much sense as 90% on “select contracts” which is none. So I guess just fooling around with a jigsaw-trading like tool at the tick level and call it 90% signals? I bet those “testimonials” are just a few early kool-aid induced hopefuls or otherwise fake shill ones.

dtchurn
dtchurn
3 years ago
Reply to  rtchoke

Here’s the answer rtchoke. Two sites. One says trades, the other says signals. Then one says it works on all markets, then guarantees 90%. Then the other says only NQ&CL i.e. “select”. So which is it? Not worth answering. Just ‘union these subsets’ and it’s all a superset of distracting smokescreen and finagling of wording minutiae.
“signals” & “all markets”->www.daytradersaction.com/boomerang-day-trader/
“trades” & “select” markets->www.boomerangtrader.com/

dtchurn
dtchurn
3 years ago
Reply to  Rob B

One reason Boomerang passed review scrutiny for so long was because bmt admin closed the actual Mohan thread to detour it to indicatorwarehouse.com’s old display of something called “boomerang-scalp-trader”. It stopped showing up on the indicatorwarehouse site after 2012
futures.io/vendors-product-reviews/33342-mohans-boomerang.html
futures.io/vendors-product-reviews/3440-boomerang-indicator-system-indicatorwarehouse-com.html
web.archive.org/web/20120128230840/http://www.indicatorwarehouse.com/Boomerang-Scalp-Trader.htm
web.archive.org/web/20100715174750/http://www.indicatorwarehouse.com/Boomerang-Scalp-Trader.htm

dtchurn
dtchurn
3 years ago
Reply to  Mohan

Unbelievable. Are we going to let newbs who read this rant just follow along and buy the software for a lousy 1k+? NO. This reminds me of Oil Trading Academy guy where he was boasting in a video about how many people bought his code1. All these people were churned out. Most don’t mention it because of shame of having bought or invested time and “work” into it or otherwise just moving on with their lives, because besides Tradingschools there is no other recourse for commenting about these frauds without the review site or forum completely or partially subverted by select vendor deals! If this is supposed to make boomerang look any different from the hundreds of other retail shams out there, it’s not working.

dtchurn
dtchurn
3 years ago
Reply to  Mohan

Note there is no reply to RobB’s post about the NFA, nor Stray’s finding of mohan owning the so called “verification” site. Just finagling about my question of “select” contracts like that along is going to smokescreen everything else about questions of proof for the “guarantee” , nor the NFA history now the fact that prior clients lost tens of millions in a previous scam by this huckster. Ok, I see on the site it says NQ and CL 90% guaranteed TRADES, not signals. And what does it guarantee? Not your money back , only that one will have 30 sessions of 90% winning trades. And if that doesn’t happen? Tough luck. The prospective buyer only gets the wording and claim that boomerang did so in testing. Pretty clever. Last year on archive.org it only said NQ was guaranteed. So I guess this year, it should appeal to more newbs to futures because it’ll supposedly work on CL too. Emmett, please more clearly differentiate between stocks vs. futures focused sites in your reviews. Ninjatrader is primarily futures. Basically boomerang is another futures daytrading scalping sham like most of the ninja ecocesspoolpartners list. Another one appealing to the bmt/fio like dreamers futures oriented kool-aid inducement.

dtchurn
dtchurn
3 years ago
Reply to  Emmett Moore

There’s a lot more spin effort and the confusion of two different sites re: what instruments claimed to be traded and what is supposedly guaranteed, but otherwise the boomerang system without the fluff and what it looks like in the videos and pics doesn’t seem to me really any different than a yet another nt7 combo of oscillators and MAs from a vendor site like RightLineTrading, Arambide’s DayTradingAcademy or the myriads of bmt sim dream journals.

Mark J
Mark J
3 years ago
Reply to  Emmett Moore

Mohan is a good guy. I’ve personally met him and know a bit about his spiritual discipline. Yes, he does wear his emotions on his sleeve, as most of us do. But his heart is definitely in the right place.

He offers software so if you want to review his software, get some reviews from people who have used it. Yes, his website is very marketing oriented and promises too much. I would tone it down if I were him.

But where are all the negative reviews in this article from actual users of his system? Not one user commented yet. I wonder why?

Goagal
Goagal
3 years ago
Reply to  Mark J

Have you used his software?

Stray Dog
Stray Dog
3 years ago
Reply to  Mark J

@ Shill Mark J, “Mohan is a good guy.” Did you read the section in the review section titled “Who is Scott Wolf”? Read my comments in this thread where I prove that Scott was using testimonials from a company that he owned and operated, he was reviewing himself and his product and surprise, surprise he gave himself and his software glowing reviews.

Mohan
3 years ago

Rebuttal to Fake News story about Boomerang Day Trader……..Continued by Mohan

After my first few years of forecasts became widely followed I was recruited by a large financial publisher in Florida to bring the newsletter on with them. At one point I had OVER 5000 daily subscribers and we were doing live seminars one of which was attended by 320 traders who flew in from around the world including 12 floor traders and over 10 brokers who wanted to learn my system.

Do you think you can CON a dozen floor traders to fly in from Chicago, pay 1000$ for the ticket and stay at the Marriot hotel in Boca Raton Florida for over $200 a night plus meals for 3 days if Mohan is a fraud?

Well folks, this goofy website “trading schools” appears to think so.
All of this is documented but this fellow writing the report on my services doesn’t want to show any of that . He is somehow too obsessed with painting me in a bad light which is just childish.
Here is a link showing my profile on the 21st Century Futures website along with an independent audit of my forecasting abilities during that period when I was with 21st Century.
http://www.21stcenturyfutures.com/page/tcf/aboutus/historic-study.html

OK: on to the Fake News hit piece by “trading schools” top notch johson research department

The report starts out with an attempt to paint me as a con artist with a
“long and sordid career” of two Cease and Desist notices from way back in the 1990’s which I HAVE NEVER EVEN SEEN UNTIL I READ THIS REPORT.

The two companies named in the orders were companies that I had worked for about a month each. The first one hired me specifically for a 2 week period to run a trade show for them at a large Florida financial show.
I built the booth for them, staffed the booth with their sales people, and supervised the operation for the weekend. After they paid me, I left the company. The Cease and desist came out almost a year or more later and my name was on it because I was listed with the over 100 sales people that had worked for the company. I was long gone by the time the order came out. There were lot of fraud deals in the 90’s and it was hard to tell unless you checked it out for a few weeks.

The 2nd C&D is also shown. . Again, I was just passing through as a sales person that worked there for about 6 weeks or so, saw some holes in the deal which I didn’t like, and quit. Not a big deal. I wasn’t the owner of either of these deals but just worked there for a few short weeks.

Hardly a “long and sordid career” as this FAKE NEWS website tries to imply.
…..
Yes, I was a Commodity Trading Advisor for a short while in the 1990’s and had about 50 very happy customers who were making money with me.
One guy, who had gone bankrupt just recently before opening an account with us was desperate for money and had heard about the great results I was getting. He illegally failed to disclose this on his application to join our program. He complained to the NFA because he had ONE SMALL LOSS I would not give him a refund for. The NFA flew in from Chicago immediately with 3 people, showed up at my office and started making demands….over a small loss in one clients account.
The NFA found an old mock up brochure buried in my files that they searched without permission which was not being used for promotions and did not have the “Hypethetical Disclaimer” on it. They incorrectly assumed that this was my “promotional literature” and developed a case as shown in the docket posted. They fined me a minor $5300 dollars and I told them I would not pay it as I felt I was being treated very unfairly. They called all of my other clients trying to get them to complain and NONE of them voiced any complaints. But you don’t see this in their report. Anyone who has been a futures broker knows what I am talking about here. I just told them I would just resign from the NFA. They accepted that and that was the end of the story. I Left the NFA . I could have easily payed the fine and continued working as a CTA. Hardly“running afoul of various regulatory agencies” as this goofy, slanderous website says.

I have a good relationship with NinjaTrader as I am one of their older business partners. When I started there was around 100 trading services….today there are over 400. I love working with NinjaTrader and they recently approached me to place some videos on the EcoSystem. So again more nonesense speculation by “trading schools” website that “they had finally had enough with the complaints. ”

Do you see what I mean? Are you honestly seeing how this whole article on me is a disgusting hit piece?
What a Hoax! NinjaTrader have never contacted me about any complaints or anything at all like this related to Boomerang. I am sure they get flooded with complaints from all the truly garbage systems and indicators out there selling for rediculous amounts of money. But Boomerang Day Trader is one of the lowest cost and most accurate systems in the industry. I turn down traders all the time from buying Boomerang when they ask for discounts or two payments. I tell them if you cannot affort $1195 …you don’t belong in the futures industry.

Rob B
Rob B
3 years ago
Reply to  Mohan

Interesting, the NFA railroad you over some minor small complaint from one individual and I guess the other fraudulent company you were associated with was just bad luck. I tell you want instead of this long drawn out response, why not call Emmett out and shove those profitable long term brokerage statements down his throat showing how you are trading so profitably via your system.

Mohan
3 years ago

FAKE NEWS REVIEW! Complete BS fraud review. All lies and fabrication to demean our highly respected services.
Anyone can take a trial of our services or attend our free webinars on Boomerang and see for themselves how well it works. We trade live everyday and record the results. Many happy clients. I have had an excellent reputation for 16 years in the industry.

take a trial to our live trading room or other services at: http://www.daytradersaction.com

Stray Dog
Stray Dog
3 years ago
Reply to  Mohan

Way to go Mohan/Scott, just balls out deny the evidence against you and claim the opposite of what it tells us. Bravo, you were born to be a grifter and conman. “Fake News?” It that a thing now in the United State of Trump? Those documents and web pages that were linked in the “Who is Scott Wolf? Also known as ‘Mohan Das’” section of the review looked pretty authentic to me. Of course you could always provide proof that that information is incorrect but it that’s going to happen then it’s time for you to slither back under your rock with the other cockroaches.

Mohan
3 years ago
Reply to  Stray Dog

I want to post a full rebutal because this report is so completely full of false, terribly researched and downright lies . I think it is important for those few people/traders who end up reading this nonsense report to hear my side.

First fabrication is the story about sending me emails and the puffery of the associated statements.
I HAVE NEVER RECEIVED ANY EMAILS FROM TS or any so called “sheep” emails that I recall.. I get over 50 emails a day round the clock from traders around and I answer them all very meticulously. After this strange and libelous hit piece though I would not be interested in any communication until this rediculous report is removed.
I do recall getting an email years from that other fellow who fancies himself also as a sherriff, judge and jury of trading rooms….Dr. something who lives in a trailer park somewhere.
I answered his questions and showed him proof that my Boomerang Day Trader works as stated. He went away when he realized that I was not the type he was looking for as we had all the proof he wanted that our software works as stated.
I have a lengthy rebuttal that any honest person reading will be quite surprised at the lies and fabrication in this report here on TS.
I don’t know how to work this posting platform as I have never posted on any chat rooms or anything. Just believe in good ol’ fashioned emails. But I will try later. I just have to condense all the information to fit here in maybe one or two posts. Hold off until you see my rebuttal. This TS report will fall apart right before your eyes and you may wonder why such an unfair savage attack without any merit.

Stray Dog
Stray Dog
3 years ago
Reply to  Mohan

Let me see if I understand you correctly Scott/Mohan. You can post the above reply but you “don’t know how to work this posting platform as I have never posted on any chat rooms or anything.” How does that work? How do you know how to post what you’ve written above but don’t know how to post your rebuttal? Do you have sudden onset amnesia or is it an Alzheimer type of thing you’ve got going on? Maybe too much gunja man and your short term memory is shot.

Mohan
3 years ago
Reply to  Stray Dog

I tried posting the whole enchilada and it came back with some instructions about why it wouldn’t post. I am not so familiar with these deals. Why the childish incessant insults? Grow up, learn how to trade and have some fun in life

dtchurn
dtchurn
3 years ago
Reply to  Mohan

Ok, some bit of respect for coming out. But unfortunately for dta-boomerang, TS is a different breed of site where the shill-light don’t shine. You were better off coming clean with Emmett for an extra 1 or .5 star, instead of not answering the phone and emails. Well, eventually there will be new reviews and spotlight will move on, but any future shill posts will still be called out as this isn’t investiscamma nor the usual paid promo “expo” site.

Mohan
3 years ago
Reply to  dtchurn

Fake News report about Boomerang Day Trader…..Rebuttal by Mohan

Somehow this website “trading schools” decided to do a completely fabricated report on my long time respected trading services. I have been in the industry for about 16 years offering trading services starting out in the early 2000’s with a highly respected newsletter called “The Daily Directional Forecast”. This was published by a medium size financial group in Florida who approached me to work with them after hearing about my extremely accurate daily forecasts on a small website that I started.
I got very popular solely due to the accurate daily forecasts I was giving (and still do) and started to get 100-200 emails a day. Many of those emails were asking why my name was Mohan. So on the website I posted a page which talked about how I got the name with a simple description which can be seen on the Fake News report which somehow the editor of the report found from long ago in 2000.

If you are honest and objective you can read how he turned my simple description for the benefit of my hundreds of subscribers that were pouring into my website into a completely fabricated, bigoted and tabloid style story . Statements such as “Mohan decided to apply his Vedic Wisdom to the financial markets, which of course quickly turned into a 400% return”.

There is no where in that brief history where I stated that I was doing anything connected with the Markets and I have never referred to the my name Mohan as having any special significance in relation to forecasting the markets. The editors making up the “quickly turned into a 400% return” is just so idiotic and false as that is not mentioned anywhere. I was forecasting only at that time….not running any kind of trading or investing. Very wierd he put this in there.
Again, all this tabloid type description in this paragraph is just so rediculous and desperate it appears to me the sole purpose is to create Hysterical type content to add to the poop pictures, the creepy woman with monster sized boobs and the other oddball pictures. I thought this site was supposed to be about futures trading. How out of whack has the industry gotten?

Anyway, I am not sure how much I can post on each message so I will post this and then move on to the section about the fabricated story told about my religion and the sensationalized attempt to use that to create his FAKE NEWS STORY.
I have always used the name Mohan along with my US birth name in the various websites I have been associated with . Here is an example showing the proof of that. Nothing to hide, not part of some mysterious con job….not a big deal.
http://www.21stcenturyfutures.com/page/tcf/aboutus/mohan.html

Stray Dog
Stray Dog
3 years ago
Reply to  Mohan

Ah Scott/Mohan, you’re a tenacious little crook, I’ll give you that. When I went to the link provided for 21stcenturyfutures at the bottom of every page is this bit of information:
©2017 Mohan’s Market Force
All rights reserved.
That’s right on every page so it seems that 21centuryfutures is owned by you. So then I went to 21stcenturyfutures dot com and I get directed to www dot hugedomains dot com/domain_profile.cfm?d=mohansmarketforce&e=com which tells me that “MohansMarketForce.com is for sale” I can buy it for $1,895 or 12 payments of $158.
So what about that “independent audit of my forecasting abilities during that period when I was with 21st Century.” It’s nice when you are auditing yourself, isn’t it. And those “independently audited results” got me curious so I read your risk disclaimer and here it is below.
“3. Hypothetical or simulated performance is not indicative of future results.
Unless specifically noted otherwise, all profit examples provided in the our websites and publications are based on hypothetical or simulated trading, which means they are done on paper or electronically based on real market prices at the time the recommendation is disseminated to the subscribers of this service, but without actual money being invested. Also, such examples do not include the costs of subscriptions, commissions, and other fees, or examples of other recommendations as to which there were losses utilizing the timing at the time of the recommendations. Because the trades underlying these examples have not actually been executed, the results may understate or overstate the impact of certain market factors, such as lack of liquidity (discussed below). Simulated trading programs in general are also designed with the benefit of hindsight, which may not be relevant to actual trading. We make no representations or warranties that any account will or is likely to achieve profits similar to those shown, because hypothetical or simulated performance is not necessarily indicative of future results.”

It’s even nicer when your simulated trading program is designed with the benefit of hindsight so that you can watch the market action and then design your program to trade that action.

Scott/Mohan this is tradingschools.org and you are going to have improve your game because your bullshit won’t fly here. What’s next from you Scott/Mohan? Are you going to purchase adobe acrobat pro so that you can fabricate trading statements to send to Emmett?

dtchurn
dtchurn
3 years ago
Reply to  Stray Dog

Good find Stray. Also, checking around, I saw that wow, this guy has been around for a decade, previously as “21stcentury”.
http://www.elitetrader.com/et/threads/best-newsletters-on-trading-futures.65167/#post-1001115
futures.io/vendors-product-reviews/33342-mohans-boomerang.html
http://www.elitetrader.com/et/threads/best-newsletters-on-trading-futures.65167/#post-1001115
http://www.elitetrader.com/et/threads/mohans-e-mini-live-updates.87124/#post-1361915
Here, there is no “select” contracts. It works on “all active markets.” It just says “guarantee” 90% without saying just NQ or NQ&CL and again, not a real money back guarantee. Then it also says “signals”. So I guess say a couple of things on one site, and different wording on another. Nice runaround, clever. Let newbs see both sites be the judge. http://www.daytradersaction.com/boomerang-day-trader/
http://www.boomerangtrader.com

Alex
Alex
3 years ago

Could you please review “tradingsmartmoney.com” forex teaching website?
Thank you

Rob B
Rob B
3 years ago
Reply to  Alex

I am amazed when you read one review after another how all these TR are scams you ask for review of another scam site. Do you really think they are the unicorn? The are all, yes 100% all SCAMS!! I tell you what; instead of waiting on Emmett, why not contact that TR operator and say you are doing reviews of TR and just need to confirm his profitability claims by seeing his actual brokerage statements and see how fast he hangs up on you.

dtchurn
dtchurn
3 years ago
Reply to  Rob B

Exactly, 100% scam shamshows. Yeah, TS has only exposed topstep out of the other ‘AMA’ favored vendors of bmt/fio. I don’t think any of them trade for a living yet newbs are supposed to gladly fork over hundreds to thousands of dollars for “educationai services” or “orderflor tools” or whatever. Felton and JaguraEd were exposed but they were already banned or deposed on bmt. Still waiting on the jigsaw review with no proof expected for all of them. If any of them could trade for a living they sure as gold wouldn’t be running a site selling services, tools or churning newbs in’n-out-burger a sham room. btw, warble-newbraider aka m.a.perry was gloating over bannings on bmt. It’s a shame he’s still allowed to sham on both elite and fio as a “sanctuary site” while those most vocal calling out scams were roundly banned after the b_ooks sham q&a recently. And he calls all the comments about his sham “lies”. futures.io/vendors-product-reviews/11166-strategy-lab-www-thestrategylab-com-review-4.html#post613675

Stray Dog
Stray Dog
3 years ago
Reply to  Alex

Go to babypips dot com and get their education for free

dtchurn
dtchurn
3 years ago
Reply to  Alex

You can send a message to Emmett on the add-listing request queue. If enough messages for a particular site show an alarming amount of churning of newbs making them lose a lot of cc loans or other damages, then the site could be prioritized to be reviewed with some justification that it’s a particularly slick kool-aid inducing savings-damaging shamshow.

rtchoke
rtchoke
3 years ago
Reply to  Alex

Don’t know why I got this email with this link cause I’m not signed up anywhere, trade my own system, but thought I’d share it with you. Lots of profits but All in Sim Mode. She claims to be the most profitable woman trader (don’t know why there’s a separate category). But look how she boasts of her profits. Read all the things on her home page, she disses a lot of other women. Again SIM profits. http://www.tradeforgreatness.com/

dtchurn
dtchurn
3 years ago
Reply to  rtchoke

Thanks for relinking the site. I recall maybe you had posted about this site earlier. It’s a hoot to see this lady challenge the other vendor sisters. Yet does she do a D
OM only in sim mode? And her site is a global trade teton. Why couldn’t Dean Handly mpbaphdjdmbagobbledygook follow along her trades and make over 100k a year too instead of having to charge to be a teton from an old trailer park kitchen?

Winter Is Coming
Winter Is Coming
3 years ago

Oh dear…is this guy still around? Wonders will never cease.

I remember I got an email from a friend once raving about this brand new never before seen Boomerang Indicator. The fact that Mohan ‘guaranteed’ its performance was too much to ignore for some people.

That was about 6 years ago I think and it was quite pricey if my memory serves me correctly. It was too tempting not to investigate as the indicator looked almost too simple.

After looking at his chart with this “life changing indicator” I sent him back a chart with the exact settings of NinjaTrader stock indicators that matched Boomerang to a tee. Every time Mohan added an ‘enhancement’, I just replied back to him with the NinjaTrader settings to match it.

Seriously, I couldn’t believe this guy.

I will also drag in Dorman Trading here, specifically Bill Borkowski. Mohan had an arrangement with him and they executed your account trading from this stupid boomerang indicator.

My buddy lost a ton of money. It appeared Bill couldn’t trade for toffee. If he was just blindly following Boomerang I am not surprised.

Shame on Dorman Trading for allowing this to happen with a known crook.

Marco M
Marco M
3 years ago

Yes, he is still around and hawking his wares. I was a sucker who fell for his Boomerang Day Trader. Thank goodness I never put real $$ on the line. Hey, I was gullible. I just received an email from him on trading the VIX – “Here’s a new way to trade VIX, the CBOE S&P 500 Volatility Index!” Yikes!!

Rick
Rick
3 years ago

When are you going to review Coiledmarkets.com? I think they are a scam.

Rob B
Rob B
3 years ago
Reply to  Rick

My thoughts same as Winters. That Austin con artist is still around. Actually it was one of the early trading rooms I tried out. You really need a review of this character to know he is a fake?

David
David
3 years ago
Reply to  Rob B

I think reviews like that are required as they will pop up at the top of google search, what obvious to you it’s not necessarily so to others. I often ask Emmett to make the review but not for myself, scams need to be documented online. I am also asking vendors for eveidence of trading success, so far not a single one could provide?.

dtchurn
dtchurn
3 years ago
Reply to  Rob B

On the “coiledmarkets” site it says “Years after the day I started trading when it dawned on me that much, maybe most of what is held out to be solid trading info is false. Trading is a simple (but not easy) combined act of the following…”.
More like, after giving up after years of losses, I started a trading sham room with an initial course and a continuing fee for a monthly churn of newbs and stopped trading live ever since, lol. typical blab on many sites such as WT’s “after making rookie(mookie) mistakes.”

Rick
Rick
3 years ago
Reply to  Rob B

Rob, I want to see him exposed as a scam, that’s all. At first he used to charge $2,495.00 or so for his course. Now he is selling one for $99. He still trades only one contract, two at most after trading for more than 10 years . He only puts up videos when he has a winning day. People need to see what he is up to. Emmet is the only one who can do this.

toto
3 years ago
Reply to  Rick

yes Emmett review Austin Passamonte.. his trading courses went from $1K to $99..used to be active on EliteTrader boards always coming out as a Guru..
sounds to me listening to his videos like a old school Hustler

Rick
Rick
3 years ago

When are you going to review http://www.coiledmarketst.com ???

dtchurn
dtchurn
3 years ago

Nice roll going with coming out with the new reviews. I’d heard of this “boomerang” from old spam and forum mentions some time back. Yea, this guy sounds like after his boiler scamming past, he went on to reinvent himself as the “mystical MOe-han”ripping off the new age fad of finding the ancient mystique like the “Dr. Strange” marvel fiction or some channeling like story of the legendary mohan from “UFO report” mag, along with appropriating a fiberoptic dummy company name as the early 90’s saw a bunch of fad firms claiming to be the next big emerging name in fiberoptics. Also thanks to those who contacted Emmett. I wonder if someday a lot of the complaints to Emmett for every review could be posted alongside each review with names anonymized so we can see the real extent of the damage and truth counter to the shill “testimonials” on vendor sites and subverted “review” sites & forums.

Rob B
Rob B
3 years ago

This will be the first time I have said this: After reading this I could care less about Scott Wolfe, I want to talk about the important thing.

Where the Hell is this 130 years old Holly man and get him on here to tell us the secret of how he lived to be 130. That is what I want to know.

dtchurn
dtchurn
3 years ago
Reply to  Rob B

I have a feeling the thousands of other vendor scams who haven’t been reviewed yet have noticed TS and Emmett by now. Some are quivering nervously like the review said with new email not knowing if their number is up yet for a TS review, haha. Some are preparing to hide under the desk and exclaim “education only!” a few reviews back, others are going to try to admit their record was fake with a laugh on the phone call, and then a few are going to do an elaborate hoax attempting to fool Emmett with “results” which I suspect some had done with Reina also in the past. Fake phd diplomas Sachs, or cellphone photo of sim screen by Ross. Maybe a duplicated broker server elaborate screensharing hoax. You never know how far these disgusting shams will go especially if they are making a decent monthly churn!

Stray Dog
Stray Dog
3 years ago
Reply to  Rob B

In the 1980s the TV media started reporting about a group of villagers who lived very active lives into extreme old age. I don’t remember where they lived exactly but I think it was in a very isolated area of the Himalayan mountain ranges. Anyway the bit you’ll be interested in Rob B is how they managed to live to 130+ years, father children into their 90s and generally live active, healthy lives even up to 150 or 160. It seems that life in the village was pretty boring so to spice things up they had lots of celebrations. These celebrations included birthdays which were celebrated not once but twice per year. There you are Rob B, the secret to a very long life preserved in the wisdom of the ancients just for you.

Todd
Todd
3 years ago
Reply to  Stray Dog

No offense but there is no such thing as any tribe people living to be 150 or 160 ever, anywhere on the planet. It was either a bullshit TV show that didn’t care about truth reporting, more prevalent today than ever, or you don’t remember it correctly.

There definitely no such thing and never has been

Rob B
Rob B
3 years ago
Reply to  Todd

You do not get the Stray Dog humor. Re-Read about the B’day celebrations

Stray Dog
Stray Dog
3 years ago
Reply to  Rob B

Maybe they were using dog years in those reports.

David
David
3 years ago

Sounds like he got his idea from an Adam Sandler movie. Someday he’ll be known as “Happy”.

jim
jim
3 years ago

Another POS scam artist wow … the day of reckoning will come for all these fraud mothafuckas

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