Mohan's Day Traders Action Ultra Boomerang Day Trader Review
Unfortunately, I also got suckered into buying the piece of crap software Ultra Boomerang from Day Traders Action about 8 months ago! What a scam this guy Mohan has going, since buying and trying it I'm finding all types of bad reviews and reports of traders losing money both from the Ultra Boomerang Software and even bigger loses from his live trading room. I had many big arguments with him about the results and I tried to get a refund without success, and now I find out this guy was banned from the NFA in 2006 for the same things he is doing today. I found him on Ninjatrader's list of partners, which I thought was a safe place but obviously not, he's listed under the name DAY TRADERS ACTION.
From what I found out, Mohan somehow acquired the program off Indicator Warehouse back in 2012, it was sold there as Boomerang Currency Trader. Since then he added some moving averages and renamed it Ultra Boomerang Day Trader and his guarantee is based on trading the NQ, but the guarantee is worthless because he doesn't base it on real live trades.
If you watch his many videos you'll think it's the greatest trading system in the world, and he will tell you it is! The method seems like it will work but Mohan narrates his system on old already completed days/weeks of data, and it all looks very straightforward. He uses a tick chart set on 450 Ticks per bar for the NQ, with a target of 12 ticks (3 points), and a stop of 20 ticks (5 points). Those settings equal very poor money management. The problem is, Mohan ONLY does his promotions and learning videos using historical data, no live trading using his Boomerang rules. From what I've read by others he hardly ever takes Boomerang type trades even in his own live trading room, that just goes to show you he doesn't trust his system. Using historical data all the trades look and work great, if you took any chart with common indicators such as RSI, Stochastics or MACD you could later narrate and find great trades too. The real problem is that in real time, Ultra Boomerang will display indicators showing you a trend change or a trade entry signal that disappears after you enter a trade. So I guess some would call this repainting but triggers disappearing 2 bars in the past must be a software error, that is why it's easy to make any system look good for anyone narrating over historical data and not in real time.
What's a bit aggravating is the rules Mohan supplies with Ultra Boomerang which are easy to use on a completed chart. But in fast live real market conditions the setups rely on looking at some things that are judgement calls, such as how much distance there is between the Dynamic Trend Bands, how steep the bias line is, etc. Those rules are easy to do when looking back at a chart, but not easy to do when trading in real time. I'm not sure how this guy sleeps at night, he is the most egotistical person I've ever run across in my 12 years of trading futures.
I just thought I'd add to all the other reviews of Ultra Boomerang since I've run across quite a few lately. Hopefully my post will prompt traders to do more research then I did before buying a futures trading system, they say over 90% of them are scams. After my experience I registered at https://futures.io/ and get the best free indicators and systems from real traders.
Futures Trading Software called Ultra Boomerang is sold by NinjaTrader Partner ' Day Traders Action '. Seller and owner know as ' Mohan ' aka ' Scott Waife's ' first Guarantee states it will make up to 90% Winning Trades based on his sample of 30 Trades. But ''No Guarantee'' that an individual trader can or will make 90% winning trades, in other words it doesn't guarantee anything. A second guarantee stating; we will do everything possible to assure that Boomerang Day Trader works correctly. In order to qualify for a refund, you are required to supply the following within the first 30 days after your purchase date – explicit details describing a defect (“bug”) in the product and how the code did not mechanically function correctly. This is also a joke because there is no way for even a professional trader like myself to know if the software code is or is not functioning correctly - I'm not a program developer nor do i know code, so if you want a guarantee steer clear of Ultra Boomerang.
I bought this software called Ultra Boomerang because of Mohan's many YouTube videos of Training Webinars showing winning trade after winning trade. When you think of a training webinar they are usually performed under real live market conditions with streaming live data, But it wasn't until I purchased it did I find out all webinars are done on historical charts, which means all the YouTube videos don't show true results as anyone can take a historical chart and make any trading system look great by cherry picking winning trades based on any criteria.
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. So no matter how simple the system set-ups and rules are (and they are simple) there would be completely different results. I complained about this repeatedly without a solution until finally getting an answer from the owner, his answer was to almost double the number of ticks per bar, this of course made things worse.
I questioned my Data Provider about the number of ticks varying so much from one data provider to another and although they would vary slightly there would never be a 2-1 difference - even with all the changes providers make continuously.
The owner has been unwilling to grant a refund nor has offered supporting a fix for my software on my computer so I had no choice but to file a charge-back and considering hiring an attorney due to the slanderous lies he sent to my credit card company. Mohan still continues to boast of his so called thousands of happy customers with no complaints. If he had thousands of happy customers one refund would not hurt his business, but he is not a decent businessman and since the software is under license he could easily disallow usage - it's been removed from my trading platform for some time now, I would not use it and I urge anyone researching Ultra Boomerang to avoid it completely.
I don't usual write reviews but this may help a fellow trader, deserves 0 stars. Something I should have done months ago:
Unfortunately, I also got suckered into buying the piece of crap software Ultra Boomerang about 8 months ago! What a scam this guy Mohan has going, since buying and trying it I'm finding all types of bad reviews and reports of traders losing money both from the Ultra Boomerang Software and even bigger loses from his live trading room. I had many big arguments with him about the results and I tried to get a refund without success, and now I find out this guy was banned from the NFA in 2006 for the same things he is doing today. I found him on Ninjatrader's list of partners, which I thought was a safe place but obviously not, he's listed under the name DAY TRADERS ACTION.
From what I found out, Mohan somehow acquired the program off Indicator Warehouse back in 2012, it was sold there as Boomerang Currency Trader. Since then he added some moving averages and renamed it Ultra Boomerang Day Trader and his guarantee is based on trading the NQ, but the guarantee is worthless because he doesn't base it on real live trades.
If you watch his many videos you'll think it's the greatest trading system in the world, and he will tell you it is! The method seems like it will work but Mohan narrates his system on old already completed days/weeks of data, and it all looks very straightforward. He uses a tick chart set on 450 Ticks per bar for the NQ, with a target of 12 ticks (3 points), and a stop of 20 ticks (5 points). Those settings equal very poor money management. The problem is, Mohan ONLY does his promotions and learning videos using historical data, no live trading using his Boomerang rules. From what I've read by others he hardly ever takes Boomerang type trades even in his own live trading room, that just goes to show you he doesn't trust his system. Using historical data all the trades look and work great, if you took any chart with common indicators such as RSI, Stochastics or MACD you could later narrate and find great trades too. The real problem is that in real time, Ultra Boomerang will display indicators showing you a trend change or a trade entry signal that disappears after you enter a trade. So I guess some would call this repainting but triggers disappearing 2 bars in the past must be a software error, that is why it's easy to make any system look good for anyone narrating over historical data and not in real time.
What's a bit aggravating is the rules Mohan supplies with Ultra Boomerang which are easy to use on a completed chart. But in fast live real market conditions the setups rely on looking at some things that are judgement calls, such as how much distance there is between the Dynamic Trend Bands, how steep the bias line is, etc. Those rules are easy to do when looking back at a chart, but not easy to do when trading in real time. I'm not sure how this guy sleeps at night, he is the most egotistical person I've ever run across in my 12 years of trading futures.
I just thought I'd add to all the other reviews of Ultra Boomerang since I've run across quite a few lately. Hopefully my post will prompt traders to do more research then I did before buying a futures trading system, they say over 90% of them are scams. After my experience I registered at https://futures.io/ and get the best free indicators and systems from real traders.
Day Traders Action, Inc. Reviews
Mohan's Day Traders Action Ultra Boomerang Day Trader Review
Unfortunately, I also got suckered into buying the piece of crap software Ultra Boomerang from Day Traders Action about 8 months ago! What a scam this guy Mohan has going, since buying and trying it I'm finding all types of bad reviews and reports of traders losing money both from the Ultra Boomerang Software and even bigger loses from his live trading room. I had many big arguments with him about the results and I tried to get a refund without success, and now I find out this guy was banned from the NFA in 2006 for the same things he is doing today. I found him on Ninjatrader's list of partners, which I thought was a safe place but obviously not, he's listed under the name DAY TRADERS ACTION.
From what I found out, Mohan somehow acquired the program off Indicator Warehouse back in 2012, it was sold there as Boomerang Currency Trader. Since then he added some moving averages and renamed it Ultra Boomerang Day Trader and his guarantee is based on trading the NQ, but the guarantee is worthless because he doesn't base it on real live trades.
If you watch his many videos you'll think it's the greatest trading system in the world, and he will tell you it is! The method seems like it will work but Mohan narrates his system on old already completed days/weeks of data, and it all looks very straightforward. He uses a tick chart set on 450 Ticks per bar for the NQ, with a target of 12 ticks (3 points), and a stop of 20 ticks (5 points). Those settings equal very poor money management. The problem is, Mohan ONLY does his promotions and learning videos using historical data, no live trading using his Boomerang rules. From what I've read by others he hardly ever takes Boomerang type trades even in his own live trading room, that just goes to show you he doesn't trust his system. Using historical data all the trades look and work great, if you took any chart with common indicators such as RSI, Stochastics or MACD you could later narrate and find great trades too. The real problem is that in real time, Ultra Boomerang will display indicators showing you a trend change or a trade entry signal that disappears after you enter a trade. So I guess some would call this repainting but triggers disappearing 2 bars in the past must be a software error, that is why it's easy to make any system look good for anyone narrating over historical data and not in real time.
What's a bit aggravating is the rules Mohan supplies with Ultra Boomerang which are easy to use on a completed chart. But in fast live real market conditions the setups rely on looking at some things that are judgement calls, such as how much distance there is between the Dynamic Trend Bands, how steep the bias line is, etc. Those rules are easy to do when looking back at a chart, but not easy to do when trading in real time. I'm not sure how this guy sleeps at night, he is the most egotistical person I've ever run across in my 12 years of trading futures.
I just thought I'd add to all the other reviews of Ultra Boomerang since I've run across quite a few lately. Hopefully my post will prompt traders to do more research then I did before buying a futures trading system, they say over 90% of them are scams. After my experience I registered at https://futures.io/ and get the best free indicators and systems from real traders.
The best to your future trades!
Futures Trading Software called Ultra Boomerang is sold by NinjaTrader Partner ' Day Traders Action '. Seller and owner know as ' Mohan ' aka ' Scott Waife's ' first Guarantee states it will make up to 90% Winning Trades based on his sample of 30 Trades. But ''No Guarantee'' that an individual trader can or will make 90% winning trades, in other words it doesn't guarantee anything. A second guarantee stating; we will do everything possible to assure that Boomerang Day Trader works correctly. In order to qualify for a refund, you are required to supply the following within the first 30 days after your purchase date – explicit details describing a defect (“bug”) in the product and how the code did not mechanically function correctly. This is also a joke because there is no way for even a professional trader like myself to know if the software code is or is not functioning correctly - I'm not a program developer nor do i know code, so if you want a guarantee steer clear of Ultra Boomerang.
I bought this software called Ultra Boomerang because of Mohan's many YouTube videos of Training Webinars showing winning trade after winning trade. When you think of a training webinar they are usually performed under real live market conditions with streaming live data, But it wasn't until I purchased it did I find out all webinars are done on historical charts, which means all the YouTube videos don't show true results as anyone can take a historical chart and make any trading system look great by cherry picking winning trades based on any criteria.
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. So no matter how simple the system set-ups and rules are (and they are simple) there would be completely different results. I complained about this repeatedly without a solution until finally getting an answer from the owner, his answer was to almost double the number of ticks per bar, this of course made things worse.
I questioned my Data Provider about the number of ticks varying so much from one data provider to another and although they would vary slightly there would never be a 2-1 difference - even with all the changes providers make continuously.
The owner has been unwilling to grant a refund nor has offered supporting a fix for my software on my computer so I had no choice but to file a charge-back and considering hiring an attorney due to the slanderous lies he sent to my credit card company. Mohan still continues to boast of his so called thousands of happy customers with no complaints. If he had thousands of happy customers one refund would not hurt his business, but he is not a decent businessman and since the software is under license he could easily disallow usage - it's been removed from my trading platform for some time now, I would not use it and I urge anyone researching Ultra Boomerang to avoid it completely.
Mohan's Ultra Boomerang Day Trader Review
I don't usual write reviews but this may help a fellow trader, deserves 0 stars. Something I should have done months ago:
Unfortunately, I also got suckered into buying the piece of crap software Ultra Boomerang about 8 months ago! What a scam this guy Mohan has going, since buying and trying it I'm finding all types of bad reviews and reports of traders losing money both from the Ultra Boomerang Software and even bigger loses from his live trading room. I had many big arguments with him about the results and I tried to get a refund without success, and now I find out this guy was banned from the NFA in 2006 for the same things he is doing today. I found him on Ninjatrader's list of partners, which I thought was a safe place but obviously not, he's listed under the name DAY TRADERS ACTION.
From what I found out, Mohan somehow acquired the program off Indicator Warehouse back in 2012, it was sold there as Boomerang Currency Trader. Since then he added some moving averages and renamed it Ultra Boomerang Day Trader and his guarantee is based on trading the NQ, but the guarantee is worthless because he doesn't base it on real live trades.
If you watch his many videos you'll think it's the greatest trading system in the world, and he will tell you it is! The method seems like it will work but Mohan narrates his system on old already completed days/weeks of data, and it all looks very straightforward. He uses a tick chart set on 450 Ticks per bar for the NQ, with a target of 12 ticks (3 points), and a stop of 20 ticks (5 points). Those settings equal very poor money management. The problem is, Mohan ONLY does his promotions and learning videos using historical data, no live trading using his Boomerang rules. From what I've read by others he hardly ever takes Boomerang type trades even in his own live trading room, that just goes to show you he doesn't trust his system. Using historical data all the trades look and work great, if you took any chart with common indicators such as RSI, Stochastics or MACD you could later narrate and find great trades too. The real problem is that in real time, Ultra Boomerang will display indicators showing you a trend change or a trade entry signal that disappears after you enter a trade. So I guess some would call this repainting but triggers disappearing 2 bars in the past must be a software error, that is why it's easy to make any system look good for anyone narrating over historical data and not in real time.
What's a bit aggravating is the rules Mohan supplies with Ultra Boomerang which are easy to use on a completed chart. But in fast live real market conditions the setups rely on looking at some things that are judgement calls, such as how much distance there is between the Dynamic Trend Bands, how steep the bias line is, etc. Those rules are easy to do when looking back at a chart, but not easy to do when trading in real time. I'm not sure how this guy sleeps at night, he is the most egotistical person I've ever run across in my 12 years of trading futures.
I just thought I'd add to all the other reviews of Ultra Boomerang since I've run across quite a few lately. Hopefully my post will prompt traders to do more research then I did before buying a futures trading system, they say over 90% of them are scams. After my experience I registered at https://futures.io/ and get the best free indicators and systems from real traders.
The best to your future trades!
this is a repeat report of the 2nd one shown...see my reply below.Mohan
This is a repeat report by the fraudulent complainer on the 2nd one shown above.
My comments are on the first and 2nd post. Mohan
www.boomerangtrader.com
www.daytradersaction.com