Hello everyone, First of all, I want to apologize to all of you for my English in advance, is not my native language and I'm doing my best in order to get understood, so if something is not clear, do not hesitate to ask me to explain it in a different way in order to clarify it. Wow, I'm quite frozen, I just got Oliver's program in May and had no idea about all of this, I have started using and paying the practice platform this month. I found that applying his method with discipline and being very disciplined managing risk I'm getting profits, of course with virtual many, but I'm aware a strategy is proven in sim and a trader is proven trading real money. I was trading real money with almost no formation, just technical analysis that worked random to me. So I decided to get formation, with different mentors and different strategies, as despite I consider myself quite aggressive, inside me is clear I want to be diversified, so I have passive income wallet of dividend shares I'm growing thinking in a long term. I got a local mentor to use a strategy he uses because he was the only one I listened up in the radio giving exact entry prices and exit price, so during 3 years in the radio, 96% of his recommendations were right, to me that means it is not just luck as all weeks gives recomendations and is by far with this technique beating the market average. I went to the curse (EUR 3000) and learned the technique this 70years man developed. It works and it is profitable even though about 50% of the days I lose, but during this 2019 I have started applying this technique ( May 1st I started trading real with this technique) I'm making a 25% profit. Started with 10K and profit is 2465 nowadays, I do trade by this moment just mini DAX future with 1 contract, at the moment I get the 2500€ or more I have to trade with 2 futures, when another profit is reached I can go with 3 contracts and so on, as well as if profit get lower than the specific amount, I have to go back and trade 1 contract less... but the way to operate is so different, effective but different as I have to get the data into an excell, apply de technique and the excell is going to tell me if next day I have to go long or short, it is based on statics, I open a position at 8:30 am and close it at 6:30pm with a 100 points trailing stop, some days the stop takes me out some other times I'm closing the position. Ok, not relevant to this thread. And my 3rd option was trading myself, with the idea of scalping/day trading and even swing. Here is where Oliver got my attention as I saw him showing too many winning days and just a very few loses, I google about him and found he is a wall st well known trader forming other traders. His program looked just so great to me, price was $1500 aprox (I just payed 3k for the other one and in less than a year I have it almost depreciated) I have to graduate to operate with the funded account of 50K buying power and the rappel of profit looks good to me. 1st aprox $1500 is entirely for me to cover the course cost, then my profit target is $3K, 60% for me 40% for Oliver then 100K BP to reach 6K profits... then when completed it is supposed to have a chat with Oliver to operate with "his" money or open an account to operate my money. I'm sure I will not open an account with them but was thinking about trading with his money and share the profits. at the 1st signal of problem about trading his money or get paid for the profit, I have it pretty clear, cancel all payments to iFundTraders and opening an IB account just for the scalping method as I did for the div, shares and for the mini DAX futures technique. Besides commissions are less in IB than whatever broker they use (I don't know what's the broker, just the platform which is Fusion DMA) as for trading 100 shares IB gets $0,002 which is 20 cents and with IFT is 60 cents, also I do trust IB but don't even know the broker they are using to. That's my idea or what was in my mind, do you guys recommend me to not even start with the funded account? It is pretty sad to know this but in the end, my main concern is to be consistent, I do not really care if one method or another, there is no perfect method, that's a fact but I do want to achieve my goal, to be consistent, then money will follow, fortunately, I do not need "Oliver's money" to trade with but I do need Oliver's knowledge or someone else knowledge to mentor me and help me in the process of being consistent. BTW, general question, which firm/trader would you trust in order to get formed by to trade the market consistently??
Oliver Valez is a true and amazing trader. He is very rich and extremely knowledgable trader. He has been in this business for over thirty years. He has been hired by large hedge funds to train their traders and has been on main business media and done seminars throughout the world. He knows what he is talking about and inspires traders throughout the world to improve their performance by free videos without asking for a penny . He is a magnifcent guy and uplifts the novices who don't know what they are doing half the time. Many traders in this business who think they know what they are talking about make up 92% who fail as traders. I think respect should be given to someone who is truly elite, who has made it, and that person is Oliver Velez not any of us here, judging from a distance. Lets put it this way, I wish I was where Oliver is. God Bless You Oliver and thank you for your inspiration.
I should also add, with reference to the notion it is not easy to back track the validity of trades on a two minute chart, this is not true. I think by looking back in time, you can easily see if a trade has gone up or down on a particular day or week. It is not impossible. In his live tradition sessions with an account of over nine million usa dollars, Oliver shows us how it is done. He makes $6K in 20 minutes and whilst we may not see losses, as cynics would say, he teaches all traders how to limit their losses and there are a number of public videos where Oliver explains he has lost money and then goes on to explain why and where he went wrong as a teaching point. So it is very hard to accept the notion even remotely that he is a scam.
Yes, large hedge funds hire inexperienced traders that need to be trained. You are obviously well acquainted with the industry. Where do I sign up?
I think you will be a very successful trader-->on your own. You don't need Oliver. He is high risk. I got into the program right when he and his partner, Charles Vaccaro, went at each other and started suing each other. That went on for months. Charles is a crook and is in trouble again and again. It's in the newspapers and online, even recently, unrelated to trading, he's just nasty. Oliver has a some legal problems too you can check out. He makes $45,000 on Youtube, perfect for his self-promotion. He can be very enticing and I like to listen to him, but I have to realize that he took my money saying he was going to be my 'trader for life' and then jilted me. I can't log in anymore or get the training sessions anymore that were promised with the program. I don't care about the chatroom. And in his recent video (3/20/2020) he was broadcasting in his bedroom. That's a hoot! It reminds me of some of the other personalities that keep wanting attention from their 'YouTube fans' and they later burn out and disappear. I love stock charting and trading, and I still study Steve Nison's material. He is the real "father of candlesticks". Oliver studied with him early on. Steve's material is the original 'bible', IMHO. He's the one who spent thousands of dollars documenting Japanese candles and bringing them to the Western world. Oliver is just a cheap knock-off. You might check out Steve Nison's website, candlecharts.com.
Ah, finally someone who has first hand experience. Do you mind elaborating on this? Did you join during Pristine days? Do you know the reason you were jilted? It looks like lots of people were hurt(scammed) but I have yet to hear the reason. My assumption is that when Oliver and Charles split, there must have been some legal agreement not to solicit old customers or something. People say their money was stolen, but they don't explain how. It would be great if you could share your experience. If he's indeeed scamming, it looks like he's going to scam half of Latin America!
I would like to chime in here, because like you, I too was trying to figure out if Velez was a scam. I was getting extremely frustrated because most people shit talk but literally have never signed up and taken any of his courses. After digging deep, I found the only people calling him a scam artist were those who unfortunately got caught up in the legal battle between Velez and his partner. Unfortunately funds tend to get frozen when there are legal battles going on. Does that make him a scam artist though? No it doesn't. With that said, I decided to sign up for his Self Start course. I chose his course over several other's courses because he seemed the most down to earth, his personality matched mine the best, his years of experience rivaled all other's, and he never shit talks on other YouTube traders out there that are pushing their courses. That's pretty rare because most of them shit talk on each other which make me feel like they are shady. Just to be clear here, the reason I joined was to LEARN. I could care less about the $50k account that you may eventually be able to trade with. Most likely I will trade with my own account anyway. The training and knowledge that I have gained over the past few weeks has been extremely eye opening and detailed. His course is not a get rich quick course. It's not easy. But it sure as hell beats trying to piece meal training tips together by watching a million different YouTube videos with a million different trading techniques. I've learned in 3 weeks the knowledge that would have taken 3 years to gain by watching YouTube videos. Why? Because YouTube videos are vague and leave out some very key points and elements to some of these trades. So if you are looking at joining Oliver Velez for EDUCATIONAL purposes, I would say do it! If you are doing it because you think you're going to get funded with a $50k account right away then good luck because it isn't going to happen until you prove yourself, which isn't as easy as it sounds.