I have begin feeling that Michael is a big fraud. I now think that he himself can’t even have an account that profits 10% annually let alone monthly. All the tell-tale signs are present: demo trading, creating a big following, not following through with the promise/self-created challenge. Its clear that he cannot do this.
As a matter of fact, I begin doubting him right as he trapped himself into suggesting that he will turn 20k into 100k in 6 months. It was a moment of outburst against all the calling out by his critics. But then, reality set in. He had nothing to show for all talk. Then it came down to 5k being turned into 20k in 3 months. Then, a conveninent ‘vacation.’ Even then, he messed up again:
He said thru a new tweet that his tweets auto-delete and he was still going to follow thru with the challenge - except now, he was going to dictate some new terms for the challenge thru a video later that evening. That video never happened. His tweets got ‘auto-deleted’ again, but this time, it happened even before the week expired. Now, there is no talk of the challenge. Like it never was discussed - ever.
Apart from this questionable behavior to say the least, he never goes in-depth into his concepts. My experience with his concepts show me that anytime his concepts are applied towards forming a bias, an opposing bias can also be found to be equally convicting using his same concepts again. If he was true, he would make his approach more reproducible by clarifying his methodolgy. Nothing gets offered in that sense - only more videos with his victories and his ‘reasons’ for entering into those trades. So disingenuous.
Go and check his twitter out - all his followers. See the complete disappearance of any pretentions of that myFXbook talk.
That leaves with the question of why he is doing this when he is not collecting any payments through it all. The answer is not that complex. He does not want money as much as he wants glory. He needs it. He has stated in his videos a few times over that he suffers from a few psychological disorders. He named ADHD and obsessive/compulsive disorder. Its the second one which is dictating his steps here: an obsession for being considered ‘great.’ It has its allure for him. He must not need all that money to survive so he may not actually be employed as he claims. But I don’t think that he ever made 20 mil trading usd/jpy initially and then about 20 mil again trading the fiber and cable.
I don’t like to pass judgments like this on anyone even if its true but I spent a lot of time with his concepts. I am not saying they are useless or unprofitable. But they or this market for that matter, cannot produce the windfall as he claims it has for him. And clearly he has no proof of any of this except for an online presence. Not even 5k turned into 20k. Sad.