Elliott Tragic
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Have to totally agree with the above post. Spent years as a client of Swannell's Elliottician and finally learnt that I have been conned. Their sales and marketing techniques are appalling and he now has a very large base of disgruntled ex customers. The only way he can continue to make money is to mass market to new clients who don't know what they are letting themselves into. He has shut his own forum down months ago so it is impossible for the older clients to warn the new incoming clients....not good! One can't help but think that it is only a matter of time before one of the regulatory bodies around the world start looking into him again for the 3rd or 4th time
ruwatching
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Has anyone received the new email that is doing the rounds asking for people to join a new class action ? Not sure if the guy has had any takers yet but it's timing couldn't be worse for Swannell or those who still believe in his software and are waiting with baited breath for Ret Pro 3 to be released this week or next. As with all of Swannell's promises, it has been a long time coming.
SystemSkeptic
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Care to know the truth?
Would you like to make that staement in a public place using your real identity? Or are you an anonymous coward?
Why not find out the facts:
go to
Richard Swannell, Founder of Elliottician.com | Discusses Accusations of Fraud | Video & Transcript
The truth is out there if you really want to find it.
Would you like to make that staement in a public place using your real identity? Or are you an anonymous coward?
Why not find out the facts:
go to
Richard Swannell, Founder of Elliottician.com | Discusses Accusations of Fraud | Video & Transcript
The truth is out there if you really want to find it.
SystemSkeptic
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It is a little difficult to lodge a class action under a false name.
The person trying to get this class action going is not "Alexander Becker", that is a false name.
That should tell you something about the validity of the claims.
ruwatching
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The email that landed on my desk originated in Germany and read like a phone directory. Easily a couple of hundred email addresses and that was just my letter in the alphabet. Hence my curiosity as to whether he had any takers as yet.
Not much in the email was new news. A quick search of google would reveal just as much information. So I suggest that anyone looking to get involved with Richard Swannell and Elliottician do exactly that - seek out information and if you choose to jump on board, do it with your eyes open.
I cannot comment on the validity of the claims made in the email as that is a legal matter for the relevant bodies of individual countries to monitor and decide.
Nor will I respond to the private messages requesting further information on Swannell or the class action as I have no hidden agenda and prefer the transparency of open forums.
If you are seeking further information on Swannell and Elliottician, then I suggest you conduct your own research then contact the man directly with your questions.
For those existing clients who feel they have been duped, instead of slandering the guy on the web, contact your local authority.
Regarding the proposed class action .. no point in providing further information here as according to my copy of the email, the deadline of October 19th has now passed with Alexander planning to file complaints on October 20, 2009.
ruwatching
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The email was 7 pages long (plus additional pages of email addresses). Too long to post in this forum.
The basic points of the email were .. that the author of the email (Alexnder Becker) became a customer of Elliottician back in 2003 when they were rolling out their lifestyle marketing program. He talks about the unfulfilled promises of that program and also has first swipe at Richard about charity/orphanage.
Then the email goes into RET Pro - a more advanced program and the Mentoring program that would teach how to be successful or money back.
Then details RET Pro with SWOP and the marketing claims that the door was closing and needed to be a founding member as they would never sell the software again to the general public.
Then he waffles on about his own failed experiences using the programs. Then he talks about the forums on the Elliottician website being closed because customers were figuring out that the program was flawed and started requesting refunds.
Then he makes some (unsubstantiated) claims about the money raised by Richard not going to the orphanage as claimed.
Then there seems to be a lot of cut and paste info sourced from google on previous legal action taken by US and Australian government bodies. This takes up a couple of pages.
Then he comes back to the latest marketing "fraud". The new workshop for 10,0000 US and claims that they were making 19.5% in one day using tick trading !
Then he slanders some individuals by name within the Elliottician comapny because they are related to Swannell.
The final part of the email detailled the legal action he was embarking on and offered for you to get involved in the class action.
And that is basically the summary.
****
I would like to note that while I do not agree with all of the accusations laid out in the email, there was enough "truth" to be a cause for serious concern. I did not join the legal action or make contact with the author.
My understanding is that the $10,000 US workshop is taking place in Newark this weekend with about 100 eager participants. No airfares, food or accommodation was included in the course fee so do the maths. They are certainly making money selling their spin to those who are gullible enough to buy into it.
Personally, I am a fence sitter. One one hand Richard Swannell has made outlandish claims and been in trouble with the authorities before, so is not to be trusted. On the other hand, his product has evolved with each new incarnation and now offers extraordinary results (if the charts demonstrated by his team are to be believed)
So he is either a brilliant con man or a bloody genius.
Only time will tell.
I was a victim I fell for the slick talk I attended the conference in Montreux Switzerland I was then assigned a coach the man was a halfwit. Asked to be cut loose and given my money back nothing but lip service. I had my credit card do a chargeback and was successful for a few months My account was recharged I have started legal action but have been warned it will be expensive. I would be very interested in speaking with anyone interested in a class action suite
The Pip Thief
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Hello,
I am so sorry for you. I know this man is the master of deception and a straight up thief. He has had run-ins with the law in the states and been fined $140,000 by the CFTC in 2006 for violating the case they brought against him in 2000. He was also given a permanant injunction which means he cannot even apply for his Series 3 exam or manage money or do anything in the industry.
Here is the link.
http://www.cftc.gov/ucm/groups/publ.../legalpleading/enfrswannellperminjunction.pdf
I would suggest that you file a complaint with the CFTC on the whistle blowers page. Here is the link. Just make them aware he is still ripping people off. Fill out this form.
http://www.cftc.gov/ConsumerProtection/RedressReparations/InformationReportingForm/index.htm
I know Daniel McMahon cannot even afford a car an lives in a tiny appartment. Joan Lenza lives in the house above her sister and is broke as well. Richard is a scumbag and preys on the weak.
He hides behind his wife and claims he is religious. This is a man with no balls frankly and one day he is going to cross the wrong person. I think he already has actually. All his money is Hong Kong. He moves from place to place every 3 months to not pay taxes. Everything about the guy just stinks of S**t.
His house is right in between the railroad tracks and the lake in Montreux which is a really small section with only a couple of houses if you needed to deliver papers to him. He drives a Porsche and will not even pay his employees. Total waste of a human!
I am very sorry for you but you have to at least file a complaint with the authorities in the link above.
The Pip Theif
I am so sorry for you. I know this man is the master of deception and a straight up thief. He has had run-ins with the law in the states and been fined $140,000 by the CFTC in 2006 for violating the case they brought against him in 2000. He was also given a permanant injunction which means he cannot even apply for his Series 3 exam or manage money or do anything in the industry.
Here is the link.
http://www.cftc.gov/ucm/groups/publ.../legalpleading/enfrswannellperminjunction.pdf
I would suggest that you file a complaint with the CFTC on the whistle blowers page. Here is the link. Just make them aware he is still ripping people off. Fill out this form.
http://www.cftc.gov/ConsumerProtection/RedressReparations/InformationReportingForm/index.htm
I know Daniel McMahon cannot even afford a car an lives in a tiny appartment. Joan Lenza lives in the house above her sister and is broke as well. Richard is a scumbag and preys on the weak.
He hides behind his wife and claims he is religious. This is a man with no balls frankly and one day he is going to cross the wrong person. I think he already has actually. All his money is Hong Kong. He moves from place to place every 3 months to not pay taxes. Everything about the guy just stinks of S**t.
His house is right in between the railroad tracks and the lake in Montreux which is a really small section with only a couple of houses if you needed to deliver papers to him. He drives a Porsche and will not even pay his employees. Total waste of a human!
I am very sorry for you but you have to at least file a complaint with the authorities in the link above.
The Pip Theif
Hink,
First, I am not employed by the company nor have any interest other than as a user of Elliottician and would like to go on record describing its capabilities. I was a chart, technical trader using Elliott Wave and Fibonacci and, while I still use components of that background I find it easier to trade with Elliottician. Did you purchase RET 4?
I think you missed something in your Elliottician purchase. While I can not comment on your experience with Elliottician and its customer service nor have knowledge of what you purchased I can attest that the latest software RET 4, does work. I have worked with the RET platforms from versions 2 through 4 and see an evolution of software development. The earlier versions 2-3 attempted to use subscriber's computers in a system of collective processing similar to the SETI to enable a search of all the markets for specific pattern arrangements. There is a learning curve involved with the Elliott Wave and in many cases the analysis could be subjective.
Now however, with RET 4 a totally new platform utilizes multi thread processing to deliver a good representation and best estimation of the Elliott Wave. I have found the best performance in the market at this time and my own personal preference is "tick trading". I am presently paper trading to build my confidence. My experience with ticks as alerted by RET 4 are ..... either the pattern is perfect, trade it or, if not perfect don't trade, which results in a high 80 to 90 percent success rate. Weekly Webinars provide an "over the shoulder" look at live trading conducted at the market open and several hours thereafter that should help your understanding of program operation.
The software also has a training program incorporated to train and test your skill using actual market data in any of the indices or stocks in your data subscription. If you do not have a high percentage of success using the training program after a period of time I would suggest that this method of trading is not suitable for you.
I have found their product support to be satisfactory and surprised that you had a training problem since instructors and technicians are available via email, phone and Skype to address your questons.
I would suggest you attempt to resolve your issues and perhaps give RET 4 a try. (I think they were offering a free trial period). If you are really interested in trading, don't throw the baby out with the bath water.
First, I am not employed by the company nor have any interest other than as a user of Elliottician and would like to go on record describing its capabilities. I was a chart, technical trader using Elliott Wave and Fibonacci and, while I still use components of that background I find it easier to trade with Elliottician. Did you purchase RET 4?
I think you missed something in your Elliottician purchase. While I can not comment on your experience with Elliottician and its customer service nor have knowledge of what you purchased I can attest that the latest software RET 4, does work. I have worked with the RET platforms from versions 2 through 4 and see an evolution of software development. The earlier versions 2-3 attempted to use subscriber's computers in a system of collective processing similar to the SETI to enable a search of all the markets for specific pattern arrangements. There is a learning curve involved with the Elliott Wave and in many cases the analysis could be subjective.
Now however, with RET 4 a totally new platform utilizes multi thread processing to deliver a good representation and best estimation of the Elliott Wave. I have found the best performance in the market at this time and my own personal preference is "tick trading". I am presently paper trading to build my confidence. My experience with ticks as alerted by RET 4 are ..... either the pattern is perfect, trade it or, if not perfect don't trade, which results in a high 80 to 90 percent success rate. Weekly Webinars provide an "over the shoulder" look at live trading conducted at the market open and several hours thereafter that should help your understanding of program operation.
The software also has a training program incorporated to train and test your skill using actual market data in any of the indices or stocks in your data subscription. If you do not have a high percentage of success using the training program after a period of time I would suggest that this method of trading is not suitable for you.
I have found their product support to be satisfactory and surprised that you had a training problem since instructors and technicians are available via email, phone and Skype to address your questons.
I would suggest you attempt to resolve your issues and perhaps give RET 4 a try. (I think they were offering a free trial period). If you are really interested in trading, don't throw the baby out with the bath water.
The Pip Thief
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OK, Obviously you missed the ridiculous pricing and the fact that you have to pay for eSignal and NinjaTrader both to use this crap. Get a grip my friend. $10,000 a year plus the fees from NinjaTrader and eSignal. This guy is a scam artist. Has been and always will be. Just look at some of the systems of the guys who have been on CNBC or Fox Finance who actually Trade their own money and sell systems such as the Stand Up guy like Steve Griffiths of Larry Levin.
I mean MTPredictor (ALSO ELLIOT based software)sells a lifetime license for $1400-2500 depending on your platform. Get a grip my friend. This guy is an A-hole that has been ripping people off for years and is still doing it. He has a permanent injunction in the US with the CFTC and not one on there staff can show you live trading records which they should for the price they are charging.
STAY AWAY FROM ELLIOTICIAN. Richard Swannell is a THIEF and LIAR as proven by the US Government in court. Sorry, in my opinion people rarely change.
The Pip Thief
Hi
I also have problems with these companies, I got the virgintrader software, but had some isues with it and my capital is too small to trade with virgintrader, a lot of other things also, made me want my money back. the have a money back guarantee, and I was aproved for the refund. Now it´s +3 month ago I did this, no money, no info. at all about when they will (if) pay me back my money.
Is ther anything i can do, if I don´t get my money? Suggestion? Other people been in contact with the company (virgintrader, Elliottician, RET trader, elliotwaveforecaster)
I want them this week, can´t wait any longer.. I´ll let you know how things are going with this, I will write on every trading site about this, if I don´t get my refund. Thanks
Leo
I also have problems with these companies, I got the virgintrader software, but had some isues with it and my capital is too small to trade with virgintrader, a lot of other things also, made me want my money back. the have a money back guarantee, and I was aproved for the refund. Now it´s +3 month ago I did this, no money, no info. at all about when they will (if) pay me back my money.
Is ther anything i can do, if I don´t get my money? Suggestion? Other people been in contact with the company (virgintrader, Elliottician, RET trader, elliotwaveforecaster)
I want them this week, can´t wait any longer.. I´ll let you know how things are going with this, I will write on every trading site about this, if I don´t get my refund. Thanks
Leo
Last I heard he was dead, youve no hope of a refund. The guy has been getting prosecuted and fined for years. He was a first class scam artist.
Perth cancer blogger dies - The West Australian
Richard Swannell - International Trading Systems
The companies lives, now it´s Dan MacMahon who runs the company..
There's probably more chance getting your money off the dead guy.
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