Oliver Valez Trade for Life Program

This is a discussion on Oliver Valez Trade for Life Program within the Trading Firms forums, part of the Trading Career category; So luckybucks, I am considering trying the VELEZ trading program, myself. Why cant I find one trader on the internet ...

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Old May 29, 2009, 4:37am   #49
Joined Sep 2005
So luckybucks,

I am considering trying the VELEZ trading program, myself. Why cant I find one trader on the internet who can say they lost their money or....is making a living as promised. Velez says he now has around 2400 traders worldwide. So, why are none talking of their experiences on the internet. Is there any way to find out if this is for real. I hate shelling out 12 grand for a week of "online training" and then get to sit in my underwear all day and hopefully make money. He gives you a $30 maximum loss per day. Doesnt that mean that if you lose one trade, you are done for the day? So then you go back to sim or demo mode? Why doesnt anyone know the details? I wouldnt have even considered this gig as it seems too good to be true but his free webinar was really informative and did have tips I never heard anywhere before, and Ive read most of the books. Then there is another guy on some site called scam.com saying velez was fired by pristine so that should tell me something. Another guy is saying the next highest guy to velez in the company is a fraud and that he is using velez as the frontman. I need some clarity here guys. Id appreciate anyones help.
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Old May 29, 2009, 4:40am   #50
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What did you find out about Velez trading program?

Quote:
Originally Posted by Santanausa View Post
Hello LuckyBucks, I am also doing some research on VCM (Velez Capital Management), so far I haven't found enything bad, only opnion from other people that do not didi the training. I'll let you know if I find something fish. Yes the levrage can be right, but so far I like what I see. There is videos of him trading live, you can check at VCM Videos. Good luck and good trades. Santanausa
Santa, I too am interested in the Velez trading program, but 12 grand scares me to death. Did you find out anything? And why cant I find anyone on the internet who has been thru the program? Did they all have heart attacks? This makes no sense.

thanks.
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Old May 29, 2009, 4:45am   #51
Joined Mar 2009
Well, I would not consider them because the price/benefit relation is imho not really there. I may at a later stage, but... not now.

That said, 2400 traders and not one posting here is not really relevant. I find that I dont see too much "this is scam" around the internet. Remember, not everyone may be a forum addict

30 loss per day - look at account size. You will be trading mini lots, so... USD 30 is not one trade, if you are not totally unlucky / idiot (i.e. put stop loss at 30 USD). With uite some methods one can say... that it should be ok to have a daily loss of USD 30. Not sure you go back to sim mode. But remember, there is always the next day. I personalyl think "ok, you blew it, just watch" is not that bad an approach. Many traders have a "trade limit" per day (x trades). It makes one feel more - hm - carefull, which I think is what is wanted here. From the progression I see on the site, I like it (in terms of: it makes sense, and I think i will adopt it for myself).

You have to decide yourself. The main problem with sites like scam.com is that... as I said before...
* Even if he is valid in that the method works etc., I would expect more than 60% of the prople to fail. The psychological aspect of trading is simply pretty brutal.
* Some of those are bount to make some claims that this is scam.

Not saying he is not - i don't want to endorse him at all. Just saying a certain amount of grief is simply to be expected.
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Old May 29, 2009, 4:53am   #52
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Can anyone actually tell me if the Oliver Velez course has worked for them or is at least legit. His free webinar seemed very informative but why cant I find one person on the web who is making money with him if he has about 2400 traders worldwide as he claims. I dont know if this is a scam or the opportunity of a lifetime, since I liked all his concepts on trade entry in the free webinar. HAS ANYONE HERE TAKEN THE COURSE??? Maybe some of you who keep talking about it should at least go to the website and sign up for his free webinar and see what you think. he did give me 3 fabulous tips on trading! But the question remains.........is this legit? I remember Robert Dinero saying in the movie Ronan..........."Whenever there is doubt, there is no doubt."
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Old May 29, 2009, 5:06am   #53
 
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Reply to VCM

Pakua42,

If you look at some of the older posts, I am a prop trader and happy with Velez. They don't have a demo account, at least once you go through the program it is the Practice Level and you still are trading live with real money, your stop is lower. My email is kmcin9@yahoo.com and my cell number is 203-981-6569. I am always happy to answer any questions and I will share my trading info with anyone.

Regards,

Kevin



Quote:
Originally Posted by Pakua42 View Post
Can anyone actually tell me if the Oliver Velez course has worked for them or is at least legit. His free webinar seemed very informative but why cant I find one person on the web who is making money with him if he has about 2400 traders worldwide as he claims. I dont know if this is a scam or the opportunity of a lifetime, since I liked all his concepts on trade entry in the free webinar. HAS ANYONE HERE TAKEN THE COURSE??? Maybe some of you who keep talking about it should at least go to the website and sign up for his free webinar and see what you think. he did give me 3 fabulous tips on trading! But the question remains.........is this legit? I remember Robert Dinero saying in the movie Ronan..........."Whenever there is doubt, there is no doubt."
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Old May 29, 2009, 12:43pm   #54
 
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Read the Thread

Pakua, You need to read the entire thread before you start saying "why can't I find 1 person who has been through the course". You have both Kevin and myself who have been. See my post of 5/23. If you give me your E-Mail address, I will be happy to answer any questions. I gain nothing by promoting the Trade For Life Program and can give you the pros and cons if you are interested. I will not give any more input on this thread because I don't want to be called a moron again by "advisor" ArabianFrights. Everyone is entitled to an opinion as long as it is done in a rationale and mature manner.

Quote:
Originally Posted by Pakua42 View Post
Can anyone actually tell me if the Oliver Velez course has worked for them or is at least legit. His free webinar seemed very informative but why cant I find one person on the web who is making money with him if he has about 2400 traders worldwide as he claims. I dont know if this is a scam or the opportunity of a lifetime, since I liked all his concepts on trade entry in the free webinar. HAS ANYONE HERE TAKEN THE COURSE??? Maybe some of you who keep talking about it should at least go to the website and sign up for his free webinar and see what you think. he did give me 3 fabulous tips on trading! But the question remains.........is this legit? I remember Robert Dinero saying in the movie Ronan..........."Whenever there is doubt, there is no doubt."
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Old Jun 5, 2009, 11:25pm   #55
 
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Quote:
Originally Posted by fifty2aces View Post
Assumption is the mother of all ****-ups

--That's one of my life maxims. Except my version is milder. "Assumption is the mother of error." I just listened to Oliver Valez do a webinar this afternoon. He's a great motivator/salesman. Do his techniques work? I'll give them a try and see for myself.

--I haven't found any real bad stuff about Velez on the net as yet. Since I'm in Texas (no state income taxes), I checked on another trainer out of Texas, RS of Houston. The Feds filed a suit against them for fraudulent claims. R.S. of Houston Workshop - Agree

re: scams... I do my own taxes but that doesn't mean that Tax Accountants are running scams because they charge a fee for doing something that I can do myself (or painters, or plumbers, etc). Whether or not something is a scam (fraud, deceptive practices) depends on the intent of the offerer (legally). The value of the service also depends on the acceptee's use of the service. It may well be that you are trading with your own money, but the Velez's iron-clad rules are what you need to stay in the game. I certainly could use better discipline and less emotional trading myself. That's why I'm attempting to program some strategies into Tradestation.

Last edited by Nabled; Jun 6, 2009 at 1:06am.
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Old Jun 8, 2009, 10:01am   #56
Joined Feb 2008
.....Previous posts.....
Quote:
Originally Posted by luckyd1976 View Post
Unfortunately not a scam. Just a great EXAMPLE of the Arcades/Props/Educational trading companies. Private Equity Prop firm Set up as an Arcade allowing you to trade your Training Money. Give him 10k for "training" and they will allow you to trade only 5k of it, leveraged up to 50k (10:1) with their max daily loss of -5% risk management.
Quote:
Originally Posted by luckyd1976 View Post
I must have been thinking of another firm on the -5% daily risk.

You know dang well VCM (or anybody else for that matter) wouldnt keep "traders" for that Whole year either if they are blowing up daily.

Say they keep ya for 6months. 26 weeks time 5 days a week. 130 business trading days. Maybe one of you math guys could tell me, Whats the total loss VCM would take on a rolling -0.1% daily loss???

All I know its not nearly anywhere near their 10k "Training".
Quote:
Originally Posted by luckyd1976 View Post
Santana,

Dont get me wrong I have nothing against VCM.

I just want everyone to know, It is what it is.

And each to their own.

Hopefully their program's training makes everyone rich. But if people want 10:1 on there whole $10,000. (instead of 10:1 on 5k) leverage there's other ways to get it without sacraficing the 5k and the 70-80% profits sharing back to them.
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"Trading is a percentage business. Some trades will fail but it is absolutely vital that losses are kept to a minimum." --Mr. Charts
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