Is this correct? Oscar waited until the ES dropped 20+ points from the high and then decides at 2:30 to short the ES @38.75, and is stopped out shortly thereafter @44? And later shorts again @46.50 near the close only to be stopped out @53?
I retract all of my statements previously made for Oscar. His calls are ridiculous when the market is changing from a long term uptrend to long term downtrend or vice versa. His OMNI needs some refurbishing. Sure his calls are pretty good when the market is in a strong trend where you buy bull pullbacks and short downtrend rallies, but when the market is changing trends, that OMNI can't pick em. I never took on any of his trades but did follow them. His stops are pretty wide also when the volatility kicks in. I just don't subscribe to his services anymore. Just letting anybody know in case they want to check him out. Oscar is a nice guy, but I wouldn't follow any of his picks EXCEPT in a strong trending market.
I agree, I cancelled my subscription today. His calls have been dreadful over the last 3 or 4 sessions. Yes he is a nice guy, but I am amazed how wrong he has been recently. Statistically, he should have gotten at least lucky on one or two calls for big winners (winners other than a 2 point scalp). His service is cheap, but you get what you pay for. He called the cable short overnight (nasty stop out), and short the ES on a scale-in today between 1515 and 1517.50 with a stop above 21. The ES traded up to 1526 before pullback a couple of points just before the close, so another nasty stop-out. Evidentally, he had one decent call first thing this morning but wound up only getting 2 or 3 points out of it. His grain calls were awful last week. Fortunately, I've been doing some good stock trading on the side to net out most of the damage, but how I wish I had never subscribed. Good luck traders.
I am beginning to think that he has this monthly service for his big drawdowns. His calls are wrong again today as he is betting up by scaling down. Sure we're gonna have a rally since there has been so much selling, but his calls are all off again today.
I looked at his site this morning, saw he scaled into longs overnight. Surely the guy has been stopped out by now - I mean we put in new lows for the week today. Dont see that update on the site . . .
He looks a great salesman on his youtube videos. How many members does he have in his premium room? Is it worth joining just to interact with other traders there?
you can join for free in his silver room. just do it for comraderie as it gets lonely out there in the trading world.
Thought Id add some more info to clarify things here 1. No two people trade the same way, as such even given the same information they will come out with completely different results. 2. Even the most successful traders in both IBs' and Retail or prop firms are never right all the time.. above 55% and you are doing very well indeed. 3. Fool on all of you who believe that Oscar should provide you with winning Trades.. you have absolutely missed the point. You only take his trades you can follow and believe in. simple they are given as an aid to develop your trading NOT as a get rich quick. If you believe the trade is wrong.. he has already fulfilled his function.. you have just learned something about yourself vis-a-vis his trading style.. stop blaming others and look at yourself. 4. There are so few people out there who actually offer such a valuable service as this and yet he puts all his trades up for others to follow so as to learn and understand how or why or what decision process was involved in reaching the trade in-situ... sorry but that is far more valuable than any book or 2 day seminar you could attend. 5. I have learned from Oscar the art of patience and that less is more e.g. why scalp 50 round turns a day when you can trade 4 times on an intraday swing basis (yes thats his style and thats why many dont get it) His considerations are not necessarily that of a scalper because he is planing intraday SWINGS the night before and being rigid with his rules... it doesnt work all the time.. but realise he is true to his art... and thereâs a lesson there... think about that Traders a second... 6. Oscar has been in the business for 25+ years and his knowledge of markets is so vast that the webinar alone is priceless where he takes you through his reasoning step by step and I can assure you if your relatively new to trading or seasoned thereâs something in it for everyone. As an aid to trading it is simple invaluable for what I have learned and cant imagine trading without the insights he provides. I would reccomend him to anyone starting trading in order to shorten the learning curve by about 1/3 to 1/2 of the time it takes to practice the discipline required in the markets. There are many practitioners who spout that Mastery takes around 3 years full time, many even cite a value expense of at least $15000-$40000 + in that time.. Anyone who thinks otherwise is living in fantasy land and there-in lies the problem.. poor expectation management... in much the same way you falsely believe that several bad calls makes him (Oscar) a bad trader.... In which case let me assure you that you are therefore labelling all Quants and Traders at IB the same... (because they all have bad days regularly but remember IBs have the luxury of multi lot trades to make that 2 point win per day look fantastic... think about that a second..... yes sure you can be profitable in 6 months but realise the markets change in character all the time and no two periods are the same at all, Would you really expect a Pilot to learn his trade in 6 months??.. thereâs no difference here.. even a Doctor takes years before he can do it right... Trading is the same, especially when you consider what financial rewards are on offer if you reach consistency PS.. Oscar has been profitable for 25+ years doing only that but lately hes gone electronic and Iâve seen more than enough to know that many talking here negatively are simply out of their depth, not thinking clearly about the benefits or not approaching this in the right way at all if they believe he makes "bad calls". No sir.. its just YOU donât understand the calls and the problem as always in trading is not about other people at all.. its about you understanding why you say and do the things you do... That is the first rule of trading. clearly some have yet to stop passing blame and look seriously in the mirror at themselves and admit that you need to learn and accept that there simply is no holy grail. George Soros will typically take a trade regardless of the exact market intraday market sentiment.. so he would take a trade against the intraday direction on occasion.... does that make him rubbish? Is he right all the time?..does he have to be right all the time? NO.. Wake up man... ridiculous posts some of the complaining papazoid here... Paul
Anekdoten Fair enough.. but you were in the Free room correct? hmmmm... In addition did you actually subscribe to any services? What exactly was mediocre? he didnt supply you with the best trades he normally reserves for paying memebers? You didnt benefit from his knowldge of related markets and subtle behaviours of S&P pre market, main session, roll over characteristics? I think perhaps your style was vastly different and perhaps it didnt fit with your need perhaps.. But mediocre?.. I think thats an assertion too far considering hes just moved his family to Vegas and considering this year alone he has absolutely nailed so many amazing trades it makes all those who have said something negative look rediculous in the extreme... Your entitled to your opinion... as I am mine, I just cant help thinking some people have the service all wrong.. Good luck with your trading in any case... No doubt there will be some hateful replies though formmany with second agendas..thats fine.. I wish you all good luck, if his style isnt for you then no problem move on but lets not bash below the belt theres no need for it. Succesful people dont really complain or bash others without an agenda... realise that if your new to these posts... Theres a lot of unneccesary, hateful posts from people who cant stand to know they are wrong or accept they ,ay be only partially right. Ther are no right and wrong answers in trading, theres never a bad day in the markets... only intransigent Traders, out of touch Traders or traders who have not learned to look at themselves in detail e.g. why am I still trading in this manner despite knowing a rule I want to follow to stop that type of trade... regards Paul