Dean Malone/Advanced Synergy Review

Yes, it is a different room that have nothing to do with Dean Malone.

The mentoring season with Ronnie is now over but they said there will be another one at some stage. Originally it meant to be 3 days but because there was a technical problem in the first day (about 30min) he extended it to 4 days, he also made 3 follow up seasons on Saturdays. It is also possible to send him an email with email with questions. In each of these days he was going in to details of his trading system and why he is taking the trade, the whole thing took about 10-12 h per day, and about 2 hours for the follow up seasons on Saturdays. Personally I’m happy with it, and believe it’s one of the better educational investments I made in a long time.

Yes the pip count he gives on his result is for the full trade, he includes the exit with half position when stating the percentage gain/loss.

Yes, they have been threatening with the charges, but I don’t think that is going to happen. The guy he manages accounts and he is doing it pretty well. In the trading room there is about 680 everyday, which is 680 potential customers. It is a great way to show that you are competent and gain on credibility, especially when there are so many scammers these days.

I think they have not started charging because the system is not performing since the promotion and start of trade room in the Compassfx regime (May or June?) I think they postpone charging waiting for better results to pull in more subscribers. They have earned some money selling MM software though

This is their posted results:
2010 Trading Results
Jan +5400 pips +10.8%
Feb +2770 pips +5.54%
Mar +5053 pips +18.06%
April +2485 pips +36.3%
May +1236 pips +11.25%
June +370 pips +2.73%
July +502 pips +3.00%
Aug + 60 pips +0.48%
Year To Date +88.7%

There is a marked difference before and after the compassfx promotion (to be fair they said Jan-May results were also live trade room). My take: He enters late, often at overbought/oversold, and gets stopped out or he bails out just as the worse retrace is ending, I think it comes from relying on indicators and totally ignoring price action.

They have not updated August results for a couple of days, if they do, August to date is either flat or very slightly negative.

Just sharing some observations, not saying he is a bad trader - even master traders have flat or losing periods - his system does not day trade well in current market conditions, and he's been doing only day trades.

BTW I was also in Dean Malone's free trade room for a month (was it last October?) and agree with the thread starter's observations. I did it after getting lots of emails about the xxxx pips Dean made month after month, for the month I watched the trade room result would be negative if open losing trades in GBPUSD were closed.

These two are my only trade room experiences and it reinforces my feeling system/service for sale only benefit the seller. Just my opinion, don't want to argue nor care if folks want to spend money.

Ronnie seems like a good trader the last 3 mounth they say is low volume people have wacation. Like i say before what troubles me most is the pip count you never now before when he is going to add to a posision or if he is going to sell half and get stoploss to be. They say ronnie have traded for 25 years and 11 years on forex. it is true they sell some software moneymanagement software i think.


About Dean i have no experience of him my self but this really dont sound good unfortenatly i had hoped everyone could say he is good anotuehr serious threadstarter here at FF say he traded in deans room for 4 years and feel dean is great. This bothers me because i only think good of the threadstarter here at FF and it seems little contradict to what people here say.


best regards

I've been in Ronnie's trading room for about 2 months now. I took the first mentoring class and am now in the second mentoring class. First I think Ronnie is a legitimate trader. He knows his stuff. If you trade in the free room what you get are Ronnie's calls and commentary. He stresses thathe's a conservative trader and one of his goals is to reduce risk. So if one of his systems signals a potential trade he'll often wait for confirmation of a closing candle on a higher time frame. So as a result he does sometimes enter trades later than others might. When he gets a good trend trade though he manages it well. Closing partial positions lets him book some profits and also reduce risk. He relies a lot on fibs. All trades including SL and TP are posted in the scroll and they have a sound alarm to let you know a trade was taken.

He's the first to admit that August was bad compared to other months. September is starting to pickup with more sustained trends. I think Ronnie knows how to trade trends very well. But in the flatter summer market he would have trades 10 or 20 pips in profit and they'd reverse. After that he finally started taking some partial profits on the shorter trades.

Now all of that being said I think the mentoring sessions are exceptional. There's a separate mentoring room. You get Ronnie's templates and indicators including a really good trend indicator. So far he's covered a trend strategy, a fib strategy and a pretty good scalping/reversal system. There will be other strategies in future sessions. Each day after Europe exits and the NY session slows down,Ronnie reviews the trades of the day in the mentoring room. On Saturdays he starts out with a forecasting discussion for the EU that is really good. Then he covers the mentoring material. Saturday sessions are around 3 hours long. After a couple of weeks he'll spend 3 days or so in the mentoring room trading live. This is different than the other room because he can be more direct about which system he's using, what signals he sees etc.

The end result of mentoring is you learn how to improve your trading and it really helps you to understand why Ronnie is taking trades. They started mentoring out as a 3-day class. But now each mentoring session lasts around a month. The charge for the first class was $295. For returning traders they gave a discounted price of $195. In my opinion this is extremely cheap for the value that you get.

As far as the business model goes I think it makes sense. They have a good trader who can communicate well. The free room routinely has 500 people in it. If Ronnie starts booking pips like he did in the beginning of the year that's going to attract more people to the free room and to the mentoring sessions. As a result the free trading room will remain free imo. They're in business to make money but they're doing it in a transparent and ethical way. I don't know Dean Malone so I can't speak to his approach. But I think Ronnie's a legit trader and really does want people in his mentoring sessions to learn how to trade successfully.

If there's one thing I don't like it's that the trading room is set up so that you can't see what other traders are typing. I can understand why they do that though. It helps to focus on trading. But I've never been in a trade room where they did that so it's hard to get used to.

So that's my opinion. I don't think I can post links here if I remember the FF rules. But if you want to find the trade room you can. And if you ask in the scroll there's an admin named Kim who can answer any questions about mentoring. Good luck with your trading

Thanks intresting reading. The one thinkg i have little hard for is when he add to a position that goes against him or when he take partial profits. That is spoiling the pipcount and i dont see how mutch the pips are worth.


I had a trial with dean malone and im not so impressed you sit there and you get maybe some signals but it is not so clear. Also he can leave the room and then you dont know what to do with the open trades. He say he is not a signalservice that one shall learn to trade and learn others there it is more a community or something. Right now it dont feel right Ronnie is better but like i say i have hard time when he adds or takes from a position.



best regards

Yeah I get lost sometimes with his pip counts. When he's in a winning trade and takes partial profits he books "x" amount of pips and profit there. But then his system shows an adjusted (usually reduced) entry price for the remaining position. So that effects the profit calculation.

there are 4 rooms at the CompassFX site,
Room1(exclusive) - is for Dean/Blaine's mentoring or seminar sessions, teaching Advanced Synergy Method.
Room2(subscription) - covers 3hrs during european session with Blaine, and 3hrs during new york session with Dean. using Synergy indicator system.
Room3(free) - is where Ronnie trades live during european and new york sessions. in listening-mode only as no charts are shown and no interaction with Ronnie. just shows his P&L live update, it's a $2.8million account.
Room4(exclusive) - is where Ronnie moved to after ending the free sessions at Room3, and explains in detail with charts all the trades he took during the session. only for those who paid for his mentoring workshops. NOT using Synergy indicator system.

Ronnie uses his own indicator system for 3 strategies: a trend-following strategy using moving averages, CCI, modified MACD. a reversal/scalping strategy using Slow Stochastic and Bollinger Band. a fibonacci strategy with his interpretation of "waves". he only teaches these indicators and strategies during his monthly mentoring workshops for a small fee, and you get access to Room4 for his daily wrap-ups discussions. You don't have to sign-up for anything to listen him in the free Room3, but if you at least know what indicators he is looking at, it will be easier to follow him. Ronnie trades on bar close, so it may seem he enters too late, especially after a wide bar. but it works fine because he will add on pullbacks if he had initial position on a wide bar.

Dean and Blaine trades using the Synergy indicators. Blaine is much more truthful as he tells you his entries and why he enters the trade. during european session. Dean is much more elusive as you will NEVER hear his entries or exits during the 3hrs New York session, he will discuss the proprietary Synergy signals with the members, and when it is time to close the session, he will tell you he is UP "+120pips" on his open positions and he will "update the statistics for today". in this way he claims he booked his pips daily in front of members, but in actual fact he never told the room his entries and exits. on certain days where there were no setups during New York, he will close the session by saying he ALREADY got "+100pips" during earlier european session and will now book the pips for today. But we know Blaine ran the european session chatroom and Dean was no where seen trading that time, so how did he manage to claim +100pips "for today"? Anyway, Dean will always book 4-digit pips per month regardless of how he did it.

Ronnie's free Room3 shows his P&L realtime update, so you can see when he opens a trade and when he closed his trade flat. he talks through the trade, but you don't see any charts. only those who paid for his mentoring workshops know what he is talking about when he said he entered on CCI or (modified) MACD signals, etc. but if you are experienced trader, you still can benefit from the free Room3 as he explains his thoughts about the market risk bias. it is not necessary to match his pips performance as he scalps, holds, adds, reduces, basket trades, using his own experience. this is not a signal service. but a place to LISTEN to a professional trader how he works his $2.8million account.

stay away from anything that has "Dean" mentioned. his only source of revenue is selling the Synergy/Advanced Synergy Method indicator system. it appears Ronnie is an independent contractor that has no use of Dean/Blaine's Synergy indicators, and Ronnie trades in own way in front of live audience. of course, the staff makes some money through Ronnie's mentoring workshop sales.

You are 1000% (Yes One Thousand percent) correct on your analysis of Dean Malone Methods and machinations, so much so that I could have written this piece myself!

What is despicable in my experience is that in the FOREX TRADING ARENA there is so much need for Reputable and Valid education and Educators, which has left the BARN DOOR wide open for FAST BUCK MARKETERS , SHYSTERS and RIP OFF ARTISTS to separate the aspiring and WANNABE Forex trader from his hard earned money.

Dean Malone and HIS ADJUSTED TAKE PROFIT Method on TRADES THAT BLOW UP IN HIS FACE, is the MOST NOTABLE AND EGREGIOUS VIOLATION of Trading Profitably.

The SECOND WORST INFRACTION that come to mind ...is the TIME WASTED by aspiring traders Looking at SCAMMERS to show them the way to Profitability. It is a SAD SAD SAD Scene Indeed.

Dean, Blaine, and Mark are now hosting the free Room3 from european session through US session. Now you will see how they trade live in front of chatroom audience. The room is currently free. As expected, before they even call a trade they will first say "had a good month, my account already up XXX% ....." just to impress you that they can trade. Yes, even before calling a trade.
http://www.compassfx.com/forexsignals

I do not Know about Blaine.....But I can tell you Dean is a splinter Brain!

If one wants to forget what they know regarding successfull trading they are well advised to join in.
Dean has no concept of discipline, Does NOT Follow his own signals or recommendations, He takes trades and tells you after the fact that he is in or out of a position, he Hides as much as possible the losing positions, he takes scalsps one after another in multiple pairs, he shows few times the running total, and when after MUCH to do makes a total of 30 to 40 pips he quits.

One should follow him fo awhile ...JUST to get a taste of HOW NOT to TRADE the Forex markets.

Some people are destined to never learn..and that is Dean!

....and UNDER NO CIRCUMSTANCES EVER should one fork over a thin dime for his ADVANCED SYNERGY Drivel of trading system.

Good description of the facts....But I am not so High on Ronnie, though I must say is is the MOST HONEST of the bunch.
Other wise you are SPOT ON!

fxgreek,
have you been to the free Room3 this past week? like to hear your latest review on how they trade. i reserve my opinions as i've spoken too much already :-)

this is how you trade forex,

I have but one comment.....bring back Ronnie.
Cheers
CanuckCT

What happened to Ronnie? I haven't traded over there since January. Ronnie was not doing that well. But his trading was pretty transparent -open calls tracking etc.

Supposedly RONIE is trading in a PAID SUBSCRIPTION Private trading Room.
Dean Malone is a NICE GUY....BUT a Lousy Mentor/Lead trader, and He has his charts so convoluted it is IMPOSSIBLE to see the Price line! NOT TO mention HE DOES NOT FOLLOW HIS own INDICATORS or trades against his posted Overnight Levels! A HOPLESS MESS.

CompassFx is trolling for subscribers to their IB Business.

This is where FREE trading ROOM ...Is TOO expensive to your TIME and account balnce.

Dean will be teaching a 3-days class starting this evening 8pmEST, see link.

I have been logging into their free room and have never been asked or told I needed to open an account with them. I have heard them say that to contact them if you have any questions on opening an account.

Also, from what I was told Ronnie is no longer there at all.

Just wanted to ad my 2 pips of info.. Ronnie is now LIVE trading in a private room run with the server of OMNOVIA. He is the only REAL trader I have ever had the pleasure to interact with, AND his stuff works, I know because I invested in it.

He is a VERY conservative trader, but he gets the results by being more patient than anyone.

He has on going MENTORING programs for people who subscribe to the service... and he was making very good money for Compass but had a fall out with payment to him issues. I would suggest you grab his coat tails, and you will do well.

Where is the link to Ronnie trading methods?