If you are such an expert why are you still paying Oscar for his calls? And please tell me you didnt fall for his $50/rt trap!
I have left over year ago, my opinion has not changed my trading slowly did improve. Not because of Oscar. Face it Oscar isn't a trader, there is no prove that he actually follows his recommendations just two screen shots of him managing his paper account. Your Oscar is a failed electronic trader, in dec 2005 he got blacklisted by the other filling brokers for messing with the wrong guy (Bob Lake, RJO), lost his filling broker business. Then 12 months later he starts a trading academy while newspapers say he has almost ruined himself. If he could trade he wouldn't have those debts. Again, i have no grudge against Oscar for the losses, i definitely would have made them myself too. I have a grudge against him, for taking a lot in commissions and subscriptions. I have spoken to people who lost 10k of a 50k account, half of that loss went directly in Oscars pocket.
Above OTAPMA buy retracements, below OTAPMA sell rallies. Wizardry Win or lose Oscar wins. He is not to blame, it's the system. Brokerage was partially designed to lure in suckers & separate them from their money. I wonder whether Oscar can actually produce to his clients a verified statement that features a positive equity curve. That's all that matters after all. Yes - good, No - bad. Simples! And if you are ready to let a guy who can't produce the latter manage your money or pay him to tell you how to do it, then you are a tool. Simples! <img src=http://freepages.genealogy.rootsweb.ancestry.com/~elkridge/Grow_up_files/29%20%20snake%20oil%20Salesman%20%283%29.jpg> What is the difference here? Would you pay for that bottle not having seen some sort of statistics? Would you buy & down it? Stats. They are shit scared of that word. <img src=http://api.ning.com/files/gCwsD2ZbpcpzfYTYI6pEa9dzuScrcRezu3t6YC0Tuzar17AX8-QyknoakchyuKVhFCVjtxSb5YH9XoZeAYo512SQfwNCwJSg/688971985.jpeg>
Those pictures combined are equal to <img src=http://oscarsnakeoil.files.wordpress.com/2009/11/cropped-snakeoil.jpg>
I have been wanting to post the following for a while now and this seems to be as good a time and place as any. In the financial world in which we live, with a Billion here and a Billion there being thrown about, the size of account I will be referring to is really not that great, so lets get on with it. Lets say you have a reputation as a floor trader, Indy/remote trader and, here is the BIG one, you are consistently profitable over a 3-4 yr time frame. You decide to put some feelers out with contacts you have made, providing them with an audited copy of your accounts, and the time you have traded them successfully. What you are looking to do is start small, maybe $5 Million total, either in a fund or POA trading accounts. So you raise the $5 Million. Which again should be no problem because of your "name", contacts and Reputation. So here we go $5 Million under management. Let's say your average month profit is a gain like 3.8% So that gives us $190,000.00 per month. This of course is without Broker, exchange and other fees which do have an impact, but to keep it simple I am leaving this out. So you have $190 K, now you, as trader gets 17% of the high water mark, this leaves you with $32,300.00. This still leaves the client with a bit more than 3%. They are happy, you are happy, and everybody's happy. Now this is were the fun really starts, they tell other friends and soon you are having to turn away clients, because you may have psychological barrier for trading over $40-$50 Mio. total account size. I am not going to do all of the math but, you can see that if you can trade, and be consistent at it, you can make wayyyyy more money trading than you ever could Guruing. It stikes me funny that someone who has been a floor trader for so many years cannot get a handle on reading the "body language" of the price action on a screen, but everyone has their gifts and talents. My point is, why go through all of the trouble to set up a marketing thingy, having to continually look for new clients to subscribe, then having to sit all day coaxing, prodding, cajoling and generally listening to whining. I think it is so much easier to just make 9-3-11 trades. The Ever Mule Headed VIPER