Avoid Neurotrader from Ken Medanic and Pelican Technologies like the plague

LeslyTarqTow

Junior member
13 2
This is a review of the programs offered by Ken Medanic on Neurotrader.com. See Neurotrader Products - he has raised the price of the professional program to 1699USD/month. In my experience, this program does not exist.

Four months after the official state date of Ken Medanic's Peak Performance Trading Program, none of the partipants had received any biodata analysis, and there was definitely no trading while using biodata. Thirty-three traders, from a group of 100 Neurotrader clients got together to ask for a refund. Despite not having provided a single one of the services we had paid for, Medanic could see no 'legal or moral grounds' for a refund. Chris Capre, Medanic's partner in the joint Venture, walked away at the beginning of June, citing Medanic's inability to meet deadlines or communicate effectively - if at all. You can read his statement here https://2ndskiesforex.com/?s=medanic

I paid Medanic 2800USD and received a few coaching sessions and a frankly weird mindset course (it included questions such as 'Do you believe in God? Yes or No?) but no biodata analysis, no trading with biodata and no daily interaction and review of my trading - so basically, nothing of any value.

For more details on the program and exactly what went wrong, this is a copy of the text I sent to the ODR service as the first step to recovering my funds.

(1) What Neurotrader is/was and who was involved
Neurotrader was advertised as an educational program that would enable amateur financial market traders to become professionals. Using the technology, traders would be able to monitor their biological state for signs of stress and receive personalized real-time feedback. This collection and feedback of biodata was supposed to be integrated with trading software. By using the technology, the trader could know whether he or she is in a ‘peak performance state’ versus a ‘sub-optimal (stressed) state’ and adjust activity accordingly i.e. the trader would open trades while in a sub-optimal state.
The device that measured the biodata was called NeuroEdge, It was worn on the trader's finger and connected to their computer through Bluetooth. See Neurotrader.com for full details of the technology
As well as the innovative technology, the program was unique in that it offered all successful participants the opportunity to work for the Neurotrader hedge fund.
The program was a joint venture between Ken Medanic, the founder of Neurotrader and Chris Capre, the founder of 2ndSkies.com. 2ndSkies is an in-depth trader training course and learning community.


(2) Sales pitch and details of the program
The initial sales pitch for the program was a webinar on 31 Aug 2018 (
). I had known Chris Capre since 2015 and my experience of him had been very positive: he is very knowledgeable, always delivered on his promises and is generous with his time to me and others in his community. After the webinar, he ran a special invite-only session for people he thought would be suitable for the most expensive option - the professional development program. He said it was selling out fast and as there were only 10 places available, we needed to make a decision that day, so I signed up.
The program, which cost 699USD/month, was described as follows:
"For the most serious traders who understand trading is a peak performance sport and want to trade at the highest professional levels with advanced biodata analysis, personal coaching and training.
In this program, you’ll get access to:
1) 12-month Peak Performance Trading Program
2) Daily biodata collection and analysis
3) Daily correspondence with a peak performance coach
4) Weekly one-on-one conference calls with a Peak Performance Coach
5) Admission to all group conference calls
6) Admission to all webinars
7) NeuroEdge wearable device"
The first payment for 699USD was described as a non-refundable deposit. Even though it was an online sale, no cooling-off period was allowed.


(3) Missed deadlines, excuses and non-functioning software.
The promised start date of this program i.e. including all 7 items listed above was 11 Feb 2019. In fact, this was the date that Medanic started sending out the NeuroEdge devices.
He said we would not use them, i.e. we would not start the program until everyone all over the world had received their devices. After that, he changed the program start date again and said that we would not start until we had finished his mindset training program (see item 5 under '(4.b) What I did receive' below). There were nine lessons and the last one was presented on 15th April.
Despite promises to the contrary, the delays continued and multiple excuses followed: the first was that it was Good Friday so he couldn't run meeting (despite having scheduled it on that date), after that it was because there were roadworks outside his office. Then it was because the ‘software updates’ had been messed up by a third party contractor. Eventually, between May 11 and 23, Medanic sent out some installation guides and we began to try and connect the devices to our computers via Bluetooth and then to the Neurotrader application. This was beset with problems of all kinds e.g. passwords not working or other login credentials failing.
By this point, Medanic's sole intention was that we connect to the Neurotrader servers for 5 minutes a day while doing nothing, so even if the devices did succeed in connecting, the functionality was nothing like what had been described in the sales pitch.
Problems continued to arise, and the connections proved very unreliable for many in the program. Four months after the initial start date, the only part of the program that had been fulfilled was the receipt of the NeuroEdge device. The decisive moment came when Chris Capre stepped back from his part in the joint venture because he was frustrated with the missed deadlines and lack of consistency in the program. This is what he wrote
"To give some examples of timelines that haven't manifested (as mentioned in the webinar), or were delayed:
1) all devices were supposed to be delivered by Feb 11th (last one arrived end of April)
2) we were supposed to start recording biodata once all devices arrived (delayed)
3) we were then going to start collecting biodata once all lessons were done (delayed)
4) then we've had 6 out of the last 8 webinars cancelled, mostly due to tech problems with the neurotrader software
5) on Tuesday's conference call, so many people had problems with the neurotrader software Ken had to cancel the NT webinar today + mentoring sessions due to tech issues
6) mentoring sessions last week were canceled for the same reasons
7) the hedge fund hasn't been setup due to delays in the program
8) the program ends in june/july and we haven't recorded any biodata due to delays in the neurotrader software
9) keep in mind, nobody could even qualify for the funding until 6 mos of biodata collection has been done, but a) there's no hedge fund as of yet, and b) the software isn't working for most people there's a lot more I could mention, but I feel this + our comments in the webinar convey enough for y'all to make your decisi
on
Chris Capre was an integral part of this program because I was having the mentoring sessions with him. I had a couple of mentoring sessions with Medanic, but as a trained facilitator myself, I could tell he didn’t have any skills or experience in this field.


(4) What I did and didn't receive
(4.a) So at this point, (15 June) more than four months after the program was due to get underway, the essential parts of it - items 1), 2) and 3) under '(2) Sales pitch and details of the professional development program above - have not materialised:
  • There was no hedge fund
  • There was not a single instance of trading while wearing the device and simultaneously having biodata monitored and the resulting information fed back to me
  • There was no evidence at all that NeuroeXchange application existed let alone functioned
  • There was no daily contact with peak performance coach
  • The mentor I wanted to work with left the program.
  • While there was an online training resource ‘neurotraderacademy.com’, none of the content was about trading with biodata.
(4.b) What I did receive
1. I did receive the NeuroEdge device on 6th March
2. The device did connect intermittently to the servers which appeared to be collecting biodata but we were instructed to do this for five minutes a day only while doing nothing - definitely not trading or looking at charts
3. 3 coaching sessions* with Ken Men (18 March, 25 March 2019, 1 April 2019)
4. 4 coaching sessions* with Chris Capre (23 April, 2 May, 7 May, 14 May - but this one and the next two were talking about Ken and the poor state of the program)
5. A 'mindset' training program in the form of 9 webinars, each followed by a questionnaire to complete; the content was rather odd and nothing to do with biodata or real-time stress response monitoring and included questions such as 'Do you believe in God?' 'Do you have children?' 'Do you think the banking system is fair?' See ‘Example questions from Ken Medanic’s mindset training program’.
 
Last edited:

istevene

Newbie
1 0
As one of the 40+ students that joined Neurotrader Academy, I would like to suggest everybody to strongly avoid any kind of interaction with Ken Medanic, as he revealed himself as an improvised professional that ended up (probably involuntarily) scamming tenths of unlucky guinea pigs that gave him hundreds of dollars, if not thousands (speaking of the Pro Tier students).

There was supposed to be a hedge fund, based on a trading platform capable of handling hundreds of traders placing orders while being analysed by a bio-feedback device => the platform worked 3 times out of 20 attempts in my case, and some members never got the chance to login.

Moreover, there was no work on biodata during all 6 months of the program and Mr. Medanic didn't even discuss with us the chance for a refund. He simply revoked our logins and stop answering our emails.

What a peak performer.
 

trendie

Legendary member
6,241 1,011
Bio-data?
" ... monitor their biological state for signs of stress ..." ?

You do know that that's a definition of a "mood ring"?
You can get one for about $5-20 off of ebay.

Hope you didn't lose too much money. And are realising you have to put the work in.
No short cuts.
Good luck on building a trading strat.
 

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LeslyTarqTow

Junior member
13 2
Bio-data?
" ... monitor their biological state for signs of stress ..." ?

You do know that that's a definition of a "mood ring"?
You can get one for about $5-20 off of ebay.

Hope you didn't lose too much money. And are realising you have to put the work in.
No short cuts.
Good luck on building a trading strat.
Hi trendie
Nice response - thank you.
I don't think anyone was trying to take any short cuts with Neurotrader. Speaking for myself anyway, I had a nice strategy and I was hoping that the technology would enhance self-awareness. Also, a big part of the sales pitch was that traders would get funded by the hedge fund run by Ken Medanic. I signed up for it because Ken Medanic was working with Chris Capre, who I trusted back then. The sales pitch was very compelling..

Like you say, there are many alternatives, including Heartmath. But the best one of all is to develop your own heightened body awareness. Since the Neurotrader fiasco, I have stopped trading to pursue my other work which is to help people develop a better connection with their bodies and to listen to them rather than to try and over-ride or suppress what they tell us.
 

NVP

Legendary member
36,872 1,899
thanks for the feedback ......jees thats a lot of money ........these super smart PHD based systems cover up a multitude of sins ..........

keep it simpler and always seek to understand your edge ....a little like warren buffet always talks about understanding what hes investing in ......

N
 

NVP

Legendary member
36,872 1,899
As one of the 40+ students that joined Neurotrader Academy, I would like to suggest everybody to strongly avoid any kind of interaction with Ken Medanic, as he revealed himself as an improvised professional that ended up (probably involuntarily) scamming tenths of unlucky guinea pigs that gave him hundreds of dollars, if not thousands (speaking of the Pro Tier students).

There was supposed to be a hedge fund, based on a trading platform capable of handling hundreds of traders placing orders while being analysed by a bio-feedback device => the platform worked 3 times out of 20 attempts in my case, and some members never got the chance to login.

Moreover, there was no work on biodata during all 6 months of the program and Mr. Medanic didn't even discuss with us the chance for a refund. He simply revoked our logins and stop answering our emails.

What a peak performer.

he can join the list of thousands out there doing and who have done the same thing to so many poor traders ......such a shame our industry is still full of this BS
 
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