Madazmoney, scam or legit?
- Thread starter frank7
- Start date
Ehh yes and no. Sometimes i do not believe what he says and he, himself confirmed to get paid by a few online day trading services, for example check this out https://www.tradingschools.org/reviews/dekmar-trades-2018/
After i googled this trolls trading service and it no longer exists.
Idk....at the end of the day...i realized that you can trust any1 in this business.
nice..u're his sub for a few months.making 5-6k/day..
and you are slightly above PDT..
I made money NOT b/c I was a sub at madaz! I've been trading for a while and by the time I start sub to madaz I was already pullling in low 4 figures day.
BTW, I canceled my subscription back in Jan 2020 b/c I've developed my own style of trading which is very different than what he does.
Do u find anything useful in his channel?
I don't, mostly was him calling how much he made. How much he lost with his level 2 tape reading strategy.
Which he explains u need many years of screen time.
Are you still a sub on his channel? I was on a sub for only 2 months. While some of his calls worked out wonderfully for him, I don't think his style is that easily replicable for the average piker in his room. He would average in(sometimes average down quite a bit) before it goes his way.
In the past, I've seen him front side short. I know penny stocks are POS stocks but sometimes there's a runner and he would get run over. For some of the pikers in his room, that might be game over for their puny accounts. Obviously, his edge works for him and he makes money with it. I'm just not sure it will make money for all of his subs given their account size and risk preferences.
were you able to make any money with his channel?
I'm not a current/former sub, not affiliated, not an endorsement and have nothing to sell. And from what I've seen of his style, it's not for me -- and if anything, I think his style is too difficult and risky for most traders, especially beginners.
*But* if you watch this video (beginning ~3:30) where he shows his online Prop Report statements, his DAS platform via CenterPoint Securities and his DAS phone app... all with matching account values... and also does various things to prove that it's all real (e.g., shows L2 routes) -- i.e., not photoshopped, not a demo account, etc. -- then it seems hard to contend that he's a fake. Maybe someone out there knows of ways he *still* could be faking it that I'm unaware of...
*But* if you watch this video (beginning ~3:30) where he shows his online Prop Report statements, his DAS platform via CenterPoint Securities and his DAS phone app... all with matching account values... and also does various things to prove that it's all real (e.g., shows L2 routes) -- i.e., not photoshopped, not a demo account, etc. -- then it seems hard to contend that he's a fake. Maybe someone out there knows of ways he *still* could be faking it that I'm unaware of...
Does it matters if its real or fake?
His strategy is base on level 2 and tape reading.
Are you able to replicate it as a student/sub?
When asked what's his risk level. His risk level is if he sees the stock is going strong he would stop his short.
So what u gonna learn from here without years of screen time on tape?
Not sure if you’re asking rhetorically or literally… ? But if you are asking me — whether he’s legit or not seemed to (partly) be what the OP was asking -- and a number of the subsequent responses have suggested that he's a fake trader. So in response to the OP’s question, I thought that some of the things he showed in the video might help to prove that he is a "real trader," and that his PnL may be real.
First, I've never taken his course, so I don't know the details about what he teaches or how well he teaches it. But like virtually any skill, Level 2 and tape reading can be taught successfully.
Second -- even if I did know the details about his teaching, who am I to say whether someone else is capable of replicating what he does or not? For almost every strategy or approach that I've seen taught, there at least appear to be some people who are able to apply it successfully... although obviously I have no way of knowing that for sure (i.e., I haven't seen their audited brokerage statements, etc.).
That being said — I'd also guess that the vast majority of traders fail, regardless of what approach they're learning or who's teaching it, and for reasons that don't always have to do with the strategy or the teacher. But I'm not the type of person to put limits on what you or anyone else is capable of learning or doing, and certainly not based on my own limitations.
That's sorta why I suggested that his approach may be too difficult/dangerous for most traders, especially beginners. But again, I don't know the details of what he teaches, and risk level is often scalable relative to one's own account size and risk tolerance.
Again, I'm not sure about what exactly he teaches. But if your emphasis is on the fact that it'll likely take years to learn and be successful -- do you know of any trading course/method/approach where that isn't true? Do you know of many comparable professions that don't take years to reach success?
But *if* he's selling his course/service by claiming that a student can easily and quickly become successful at trading, then I'd say that's misleading... and to the degree that he's suggesting that, whether directly or implicitly, a "scam" in that sense -- regardless of whether he's a real, highly profitable trader who may be teaching valid methods (or not).
madaz equity curve.
rising equity curve.
avg lost 21k
avg win 3.4k
92% win rate.
in another word Profit factor 0.16
A good course learnable course consist of this following.
1.planned Setup
2.Entry trigger
3.Stop loss price level. (Not to be confused price level risk as your personal dollar risk,which is what your tolerance required.)
4.Profit Target spelled out. ideally or not 2-3R.
I was and ongoing in another chatroom with this factors.
I was profitable for a period when covid 19 starts.
Problem is
1.the setup start to have less profit target hitting before reversing
2.lesser good quality setup occurs.
lead to me exploring other rooms
If a trainer execution base on level 2 & feeling?
If that's what was offered.
it's as good as, the only thing I can teach you is to read level 2 over again and again and get your own plan.
now do you still need his course?
I wasn't saying or expecting learning to trade is easy.
I'm saying that if you want to get a course material, the material should be learnable.
I've seem a lot apprentice from other guru/furu posting their positive result following their guru.
U dont get to see any trainee doing well following madaz. as there's nothing to follow.
not to mistake a good/profitable trader with a good course/teacher.
as a course buyer your priority concern is are you able to learn from the guru.
NOT are you able to SEE the guru profit in the trading.
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