• Report: #1043572

Complaint Review: EII CAPITAL

  • Submitted: Mon, April 15, 2013
  • Updated: Mon, April 22, 2013

  • Reported By: Neil — Atlanta Georgia
3525 Piedmont Road Atlanta, Georgia United States of America


*REBUTTAL Owner of company: I agree with you response

*Consumer Comment: @ Neil & @Rick

*REBUTTAL Owner of company: Response to EII Capital is a scam

*REBUTTAL Individual responds: I agree with you

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EII CAPITAL IS A COMPLETE SCAM....the owner knows how to market himself and his bullshit education very well. He himself ( MANESH PATEL) is not a trader. Ask him for his trades he will never show you his trades because HE IS NOT A TRADER so don't believe him when he tells you he has made millions trading. He has made his money by selling people dreams of being financially free, his course is expensive on top of all of that. Do not fall for this unscrupulous educator, he does not care about you or your problems. He will not teach you how to trade, you can learn everything he teaches you for free and their is nothing special about the material in his course nor his system. DONT WASTE YOUR TIME. Ichimoku Clouds is a free indicator already built into ThinkorSwim platform, just read up on the free material on the internet and you will save yourself 10,000 dollars. Good Day

This report was posted on Ripoff Report on 04/15/2013 09:46 PM and is a permanent record located here: http://www.ripoffreport.com/r/EII-CAPITAL/Atlanta-Georgia-30305/EII-CAPITAL-MANESH-PATEL-SCAM-ARTIST-PURE-MARKETING-AND-SALES-Atlanta-Georgia-1043572. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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Updates & Rebuttals

#1 REBUTTAL Owner of company

I agree with you response

AUTHOR: Manesh Patel - ()

Again, we welcome the feedback. However, the statements are not true. We will address each one:


1. Fine: We fine our students for not learning from their mistakes. A $1 fine will save you thousands in the markets. Trading is all about learning from your mistakes. If you can't learn from your mistakes, you are going to do the same thing over and over and never move forward. Most of the students that come to us have taken a lot of education courses and have not moved forward. As a result, they have a lot of bad habits which have become "normal". You have to do something to break those habits. Furthermore, we donate the fines and also all the book proceeds to charity. In India, if you are poor and got into an accident or very sick, they do not treat you at all! With the money we donate, we fund patients surgery. If anyone ever wants to see it, they are welcome to come to India and see it for themselves. My family has been doing this for generations.


2. Ask for his trades: I trade with my students every day in all markets in the Skype chat room and also send out emails. For example, I sent out one email in the middle of Dec so when the ES E-mini SP500 futures gets to 1393 to start buying stocks with options (new positions) and then another email in the beginning of April to buy some stocks again when the ES gets to 1536. Also, we have sent out recommendations for the currency CADJPY to buy around Jan 21. These are some of the trades we send to our student before they occur. In the student chat room and in my office, we are continuously trading with everyone. If anyone wants, they can come to my office and see me and all my students trade. My evaluation should be the students results because that is what counts.


3. Zero knowledge of fundamentals: We have full knowledge of fundamentals. However, I personally do not trade using fundamentals and that is something I state publicly. I am a pure technical trader. I used to trade stocks based on fundamentals and stopped doing this a long time ago. The reason is you can buy a stock based on fundamentals but the stock may not go up for months. Technical's tell you the timing which is what I am interested in. In our program, we tell people if they want to use fundamentals, that is not a problem. However, they have to use technical analysis to know exactly when to get in and when to get out. This is something we publicly state too....


4. simplest thing complicated in his own language: We have a vast number of students. Each student is unique and we recognize that. As a teacher, I understand that everyone is not going to understand everything right away. This is why we conduct a "live" class instead of Webinar. In a live class, if a student does not understand, we will re-phrase things until they understand. Also, we continuously keep on improving our courses. We are humble so at the end of each course, we evaluate ourselves. For example, Jan of this year, we looked at each student and determined where they struggled in the learning process in 2012. Based on the research, we added and removed modules within the program. We do this on a yearly basis and also at the end of each class too. The yearly analysis allows to look at the entire process. Since we are improving the way we teach, we encourage our students to always re-take the course. To re-take the course, it is free the first year. After that, if seats are available...it is still free or we may charge at most $50.


5. all I get is some old you tube motivational videos that I can find myself all I get is some old you tube motivational videos: This is not true. The program includes the following which is also stated on the website:


a. 4 weeks of pre-workshop. Every week, you will have a 2 hour webinar based tutorial. This will occur for 4 weeks. This "equalizes" all the students with the same knowledge and establishes their trading foundation.


b. 2 day "live" bootcamp workshop: This is where we put everything together. On the first day, we take everything in the pre-workshops and teach people how to trade one timeframe with a 3:1 reward/risk ratio. The topics in the first day are as follows: Key Support/Resistances, Psychology of the Mind, Psychology of the Trader, Ichimoku Strategies, basic money management, and Wave Patterns. The second day is optimization. The topics include the following: Advance Money Management, Multiple timeframes, CounterTrend, Overextension, and other optimization techniques.


c. 2 month of weekly mentoring: The students after the 2 day live class are expected to put multi-timeframe trades from the email alerts we send them on every day. The trades are logged and submitted to us Sunday night. The following week, they will have a mentoring session where they will get feedback on the trades. Each week for 2 months, the students are practicing everything taught in the 2 day class. The goal is to prove to them why all the rules and strategies work. The first month, they practice two Ichimoku strategies, optimization rules, multi-timeframe analysis, and money management. The second month, they practice pull back, counter trend, etc.


d. After the mentoring, they enter Post Support. This is where they are invited into the Student chat room which is free as long as they participate. This is where all the students INCLUDING MYSELF are trading.


e. Email tutorials: We are continuously sending out email tutorials. They are live charts mocked up with step by step tutorial.


f. free retake of the class for one year. After the first year, if seats are available...it is free otherwise there is at most a $50 charge.


6. Ichimoku is not the only way to trade: In our program, we use Ichimoku as a tool. We teach people how to trade. They learn Ichimoku, Institutional concepts, money management, psychology of trading, etc.


We have some students that come to us and think trading is simple and can be done overnight. It CAN'T. You can't learn it over night. It takes times and commitment which most people don't want to give. If the student is not "around" then we can't help them. If they are...we are ALWAYS supporting them. Everyone is always welcome to talk to our students and they will tell you who I am ...... We care about each students success.



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#2 Consumer Comment

@ Neil & @Rick

AUTHOR: FKTrader - ()

This was my experience with EII capital...

I took the course a year ago, and quite frankly I was impressed by it... and still impressed by the ongoing support and the good customer service I am getting, I am getting daily advices, daily trades and always someone to answer my questions.


back to your points, first, Ichimoku cloud is free with ThinkorSwim, you are right, and it is actually free with other charting applications out there, BUT, the same goes for all the technical indicators that traders use, EII does not sell you Ichi cloud, it teaches you how to use the tool,,, same as any course provider for the financial markets...


Second, during the course, he showed us trades that worked for him and trades that did not work for him., and still until now, as students we all trade together, Manesh also trades with us,, so not being a trader is quite not true...


Third, you mentioned the courses and the materials are available online, is not that the case with any course out there? even university degree courses? any course you take now adays you can find similar materials online, simple google search, the instructor is there to help you understand it and help answering the questions, he is not responsible to provide materials from MARS (that you cannot find on google)....

Fourth, it sounds to me that you comments are more personal as oppose to a professional complaint, no rule in the market not to trade if you are overweight!...

Fifth, the course cost and "FINES" that I got saved me ALOT OF MONEY! Simply I learnt from my mistakes...

Sixth, I have not heard him saying he made millions, I heard him saying he wanted to!...


Last, if you guys did not get a simple trading strategy like ICHI, small advice, don’t waste your time trading,, try GOLFING...

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#3 REBUTTAL Owner of company

Response to EII Capital is a scam

AUTHOR: Manesh Patel - ()

Thank you for the feedback. I am humble and will continue to do so. I have been trading for years. If I didn't have a track record, how did I change from being a sales engineer in the Telecom field to CTO in the financial field creating Blackbox automated solutions?  

I am more than happy to show my track record to my students anytime. However, my students do not need to see it because I am trading with them every day.....every week...every month..and every year. They see my trades in the chat room, my blog, twitter, and in my office.   I do not publicly publish my track record because there are a lot of people publishing "false" track records.  Also, part of being a successful consistent trader is to determine what type of trader they are.    My track record won't help anyone become successful.   Every person needs to take the information that we provide and validate it by looking at charts before taking our program.    We publicly state this all the time.

We do not want to be like everyone else.   This is why we do the following:

1. Provide a lot of free information on the web so people can validate the system. The education program we offer helps people optimize which is what you should be paying for anyways.
2. We do not advertise. Our students come to us.
3. We do not accept all students. Our program is not for everyone. We talk to our students before they take the course to see if they are a fit for our program or not.

4.  Provide a free E-Book on Ichimoku on the website so people can learn everything about Ichimoku without a cost.    People should be paying to learn how to optimize which is what our program does.....

Ichmoku is a free indicator that is now available for free with most charting and brokerage firms.  Before, it was only available for forex charting/brokerage firms.   Now, it is available for non-forex firms too because we have spent years working with various firms to get it into their platform where it is a free public indicator just like moving averages.

Ichimoku is a tool we use.  By itself, you will never be successful.    Ichimoku along with other institutional concepts, psychology of trading, and money management is the key to becoming a consistent successful trader.  

We have tons of students that are successful. It doesn't happen "over night" as everyone thinks.

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#4 REBUTTAL Individual responds

I agree with you

AUTHOR: Rick - ()

I too have taken his course over a year ago.  He first presented himself as someone knowledgeable about the market.  He is truly a scam artist. He is a man of double standards. I think he fines you for no reason at. He makes you think that if you're not with his system, you'll never be successful in trading and that is not true.  Looks like he makes his
money in punishing his students with fines.  I don't even know if that is even legal.  Ask for his trades and he will fine you so you don't ask.  He makes it so that you would be afraid to ask any questions. And the reason why is he doesn't really know the true answer to trading. He has zero knowledge of any fundamentals.  He makes the simplest thing complicated in his own language.  So you think you're learning but all you're really doing is learning how to waste your time speaking his
language. I spent 5k and all I get is some old you tube motivational videos that I can find myself.  All in all, don't waste your time and money with this guy. Ichimoku is not the only way to trade. And who put a picture of himself on a website. He doesn't even look like that on the website,  about 100 lb bigger.  There are so many other things wrong with this I can't even

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