I am glad to find someone who actually used the OFA software, you're the first person I came accross who used it and since you're around since 2005 and posted over 4,000 posts on various topics, I am sure you are a genuine forumer and not a vendor
So tell me your thoughts about the software, when you did the demo, did you notice an improvement in your perception of the market forces in temrs of volume, supply/demand, did you improve understanding of the orderflow and did you increase your profits?
Did you ask them why they are a virtual company with no physical address? I believe they are so small they can't afford one. I believe their company was set up less than 2 years ago.
When you had the demo, did you install their software on your own machine, or did you just watch them doing the demo on their computer? They say they don't give trial, but I could watch a demo in a live market with live volume and prices, but still not on my machine.
What is the history of their software, they've got the version 5 now, OFA5. What version did you see? I could not find any info on any previous versions.
I didn't ask them all of those questions because frankly I wasn't that serious about spending over 5k. I figured if I was really impressed than I would ask the tough questions. George did the demo on his machine with a go to meeting. I don't know what version they had. I think DB is in San Antonio and George is OC, CA, but who knows. I was a major red flag that they wanted so much upfront, DB is arrogant, and George was trading on sim. I was over a year ago too.
why choose them?
Every vendor on youtube apparently makes a killing everyday!
I cringe when I watch all of these vendor vids. I also feel sad at the money they are taking from people, but at the same time, a little jealous!
It's so easy to convince people that what you have will make them rich and charge them loads of money for it with no 'come back'.
(note, that's not a recommendation. In fact, from what I gather from a little googling, these guys are are just the usual scammers. Some AWEFUL reviews on them)
" paid $10,000 for nextbartrading Masters and Mentor course and I must say that this is the stupidest thing I have ever done in my life.
After few sessions I realized that I have more experience and knowledge than him. He does not have a basic understanding of Math and numbers and how they are important for trading. It took me close to five years to become what I am as a trader and the frightening part of nextbartrading teaching is to go back to the same mistakes I made as a newbie.
1. The Risk to Reward ratio is mostly negative. Strange as it may sound, he does not discuss Risk to Reward ratio. Finally I gave up on him on R:R
2. He did not show me an EXIT strategy even after several sessions. My question was very simple: How do we manage a bad trade?. He never gave me an answer because he never gets out of a trade.(See#3)
3. He hangs onto losing trades. Not only he hangs on to losing trades but also adds position to losing trades. In my early days of trading, I used to hang onto losers and now I believe in ââ¬ÅLosers average Losersââ¬Â. It does not work for me.
4. Despite my repeated requests Eleazer never traded live markets when I am watching him. He always points to the charts that happened in the past. Finally, after much insisting he took two simulated trades in crude and both of them were BIG losers. The Profit target for both of these trades were 8-10 cents and they went down by TWO DOLLARS!. He justifies these big losers as a paper loss. I would have agreed but do we have to go down by TWO Dollars for 8-10 cents of profit?. This goes back to my first point of how important Risk to Reward ratio is........"
