Velez Capital Management? Yay or Nay?

Discussion in 'Educational Resources' started by Im Bullish, Jan 14, 2008.

  1. Anyone have any thoughts/insight regarding this firm?

    I am considering the 7-day training package and becomming a VCM Trader
     
  2. I suggest using the search function for your answer.
     
  3. I have searched and read everything regarding VCM on here.... the jist of what I got is that Oliver Velez is not a great instructor and the firm may be teaching churning strategies to rack up commissions.....

    I'm at the point where - hey, if they teach me to be profitable.... then I don't care....

    I just left my current firm after dropping 18k with nothing to show for....

    Anyone recommend a firm that has good training?
     
  4. Yes - it's called Mr. Market. He teaches lessons every day from 9:30am - 4:15pm, Mon-Fri.
     
  5. dsq

    dsq

    "I'm at the point where - hey, if they teach me to be profitable.... then I don't care....

    I just left my current firm after dropping 18k with nothing to show for.... "

    Thats enough of a lesson and about as much as any of these firms can teach you.
    You need to learn on your own,read books,paper trade....watch the market every day all day and trade 100 shares max for only 20 or 30 dollar gross profits...

    I pay 5$ per trade/any size with td izone...one prop firm i checked out was gonna cost 4$/1000 shares plus all kinds of ridiculous fees and remote fees!!!!hello why do i have to pay a remote fee-its called the internet,duh...!
     
  6. OMoney

    OMoney

    Velez Capital Management and Charles Vaccaro

    http://www.moneytec.com/forums/f14/...-capital-22135/

    The point of that link about VCM and Charles Vaccaro - if you didn't know -is that Charles Vaccaro is the real owner of Velez Capital Management. Velez is a front guy to diguse what was HLV trading. Velez must have some ownership, but VCM is HLV. The old posts on this have been deleted from the forum.

    The whole Velez BS story of come trade his money is a shame. Just call Vaccaro up and you too can invest your money for those to trade while you collect your interest from the commisions generated. It's an old scheme where the firm makes money, the investor and the trader pays it all through trading commisions.

    Velez says he made the money used by traders at VCM trading and you can trade his money while he teaches you. Well you will never see any documentation showing that Velez made any of the money used from his trading.

    The training money you pay is your up front cash to make sure you don't lose the investors money. At a loss limit of $30.00 a day, it will take long time for you to lose the money paid for the training, and while you are doing that you are paying more by the commisions generated.


    The training you can get there, you can get from a few books and DVDs on the basics of techical analysis. Save your money.
     
  7. bstay

    bstay

    The training may be pricey, but if you do learn something from the intensive 7-day course, then it serves the purpose you set out in your original post. The $30 loss limit is for Level1, the higher levels you achieve the greater the max share lots you can trade and larger loss limit.

    Just keep in mind that this guy co-founded Pristine.com and have been in business 12-14 yrs. They certainly scammed alot of students if you think that way .... for 14yrs??

    Do your due diligence.

    Regards,
     
  8. Stay away from silly people....

    http://elitetrader.com/vb/showthread.php?s=&postid=1814015#post1814015
     
  9. :D Good one!
     
  10. stay away from this group. They are affialated with Charles Vaccaro who was the crook behind HLV. Joined HLV 3 years
    ago and never saw a dime of my account gains or my innitial
    deposit. Too bad the SEC is not after Vaccaro and his cronies @
    HLV. These guys really put a black-eye on the prop-house industry.
     
    #10     Mar 9, 2008