First of all, when we talk of Forex-entourage.com. It shouldn’t be confused with Forexentourage.net. Forex Entourage is a signal service whose domain can be accessed here – Forexentourage.net. We will soon do a review of the signal service to let you know whether or not it is worth your time.
Today, this particular review is about a trading school known as Harmonic Forex Entourage. This trading school focuses on teaching how to work with Harmonic patterns to identify trends in the market. This way, traders are able to make money by trading the patterns, claims the website.
Forex-entourage.com: Is Forex Entourage scam?
I’d give this Forex trading room a 2 star ratings because they just invested time and effort to present a very convincing website called Harmonic Forex Entourage.
This website also owns this landing page: Harmonictrader.leadpages.co/harmonic-strategy-room where they promote a live day trading room that’s supposed to teach you how to trade Harmonic patterns.
In this trading room, Scott Carney (who claims to be an expert in Harmonic Trading) and his team will host 4 weekly sessions where students are supposed to look-over their shoulders as they follow the markets together.
That course is marketed as the only Forex training that traders can take advantage of because it teaches secrets that cannot be found anywhere else.
For the price of $99 per month (which earns you Gold membership), you will get a wide range of tools for your trading. These include library access to 50+ hours of training, access to session recordings, the Harmonic trader e-book, Harmonic Trading Volume 1 full-length e-book, plus the 4 weekly sessions.
When participating in these live sessions, you will go through market analysis as you watch these charlatans lead you through their ”well-chosen” examples for purposes of learning.
Scott Carney is the guy behind the whole idea that Forex-Entourage website is selling. He is aided by his deputy, Keegan McClellan, whom they claim developed the Harmonic Strength Index or HSI in short.
Forex-Entourage: what the heck is Harmonic pattern trading?
It’s a trading methodology that identifies repetition of specific price patterns in relation to the alignment of Fibonacci ratios. Forex-entourage claims that this allows traders to identify reversal points with great accuracy since history tends to repeat itself.
To widen their scope, Forex-entourage has since acquired other websites to try preaching the importance of Harmonic patterns to the masses. They own 3 other websites namely: Harmonictrader.com, Harmonictrading.com and Formationseeker.com.
The so-called Formationseeker scans the Forex markets as well as other markets for trading opportunities that form harmonic patterns.
When you get it, it’s supposed to come with a bunch of other training webinars and tools to make your work easier. Your job is to bank your profits automatically, thanks to the brainchild behind Forex-entourage. It’s a godsend.
Forex-entourage sells it for $3 a day (if you are subscribed for the trial version). They couldn’t afford to give it free even for a day. In my opinion, if this thing is so good at trading, it would have been appropriate to give it for free even for a day. I do not see the need to pay $3 a day to test it.
Charges involved when using Forex-entourage services
If you pay them $99, you get one month premium access. If you pay $249, you will be ”lucky” to get 3 month access. And finally, if you pay $899, Forex-entourage will give you 1 year access to the service. Sounds great.
But here’s the catch: do you know what you’re buying? According to their risk disclaimer, trading results as seen on the website are not to be taken as guarantee that you will replicate them.
Even if you watch Scott Carney over his shoulder with the intention of learning, you will not be able to replicate his performance because all this is considered hypothetical performance. So once you agree to the fine print, everything should be clear. You are on your own.
The people behind Harmonic Forex entourage website
I did a small background check on Scott Carney and did not find anything that would prove his background in trading.
Basically, this guy has never worked for anyone in the trading field. Scot Carney does not appear to have a record of trading success. In fact, Google does not show that this man even has a professional profile in the first place. This is rather interesting.
The same thing applies to Tomek Sawicki, Michal Szczdlak and Piotr Szczdlak. I wouldn’t want to believe that they are fictitious characters.
But at the same time, we don’t have an explanation as to why they don’t have a profile or track record of trading success in their careers. This is quite suspicious.
Reaching out to the owner of Forex-entourage.com, Scot Carney
Usually, when someone says that they know a certain area of trading better than anyone else, they immediately become the subject of our inquiry. It was only natural to reach out to him because we wanted to know if he had any trading background as well as proof that indeed his method worked like magic.
In the month of June 2017, I sent out several emails to Mr. Scot Carney. After ignoring the first one, he finally gave in to the second one.
My reason for emailing him was that … I wanted him to verify his claims in terms of bank statements.
He replied that this was not relevant since his website was out there for education purposes only.
Well, isn’t that all you need to know that Forex Entourage is not worth your time. Scams operate this way.
I think it would be a waste of time learning harmonic patterns only to find out that they are not any different from other technical indicators which you already work with. Moreover, Mr. Scot Carney does not have a track record of success. So why spend money on him?
Harmonic Forex Entourage Review
For the price of $99 per month, Scott Carney will teach you how to trade Forex using something called Harmonic Patterns. For those who have deep pockets, Mr. Carney offers a 3 month and 1 year plans costing $249 and $899 respectively.
Of course Scott Carney and his team of ”trading mentors”don’t have a success trading record. The so-called Harmonic Trading cannot be demonstrated on a live Forex account because obviously it doesn’t work. This is yet another marketing tactic. Avoid.