Must be 1 one of the biggest scams around
Velez Capital
- Thread starter TOMMYJR9
- Start date
Must be 1 one of the biggest scams around
Quote from TOMMYJR9:
hello guys, any feedback about velez capital ? in reguards to proprietary trading. invest 9k, get schooling,then 50k , you dont take any losses and split 50/50 profit. any down side that i dont see ? or who has a better progrom out there? and "TRADE FOR LIFE"....
Sent you a PM.
Yes guys i am new to day trading, my thinking i put up 9k , get a pro to teach me (oliver is the instrecture). use his 50k becaues i dont have that kind of money. the 50k is not my scared $$ . when i get good and make back my 9k . move on to a better prop firm. yes??? also the commisson is only .02 cent's per 100 shares. feedback please..
Well the training is ok but nothing like learning from the markets. You start off trading very small size like 10 shares till you can show a profit for like 4 or 5 days straight plus make up all the losses you already made. Then you move up to 100 shares. Very tight loss limit like 20 or 30 dollars. Make like 100 dollars in a week then you get to move up. Start to lose and you move back down. The system is set up so you really can't lose too much of there money no matter how bad of a trader you are.
So dont think you pay 9k then get a 50k account to trade. It will take weeks of being profitable before you can even buy 50k worth of stock.
Oliver is a great speaker and has some live trading that he does on his sight which I am not sure if its impressive to me or scarey.
After the week long class Oliver stops in the chat room like once a week or so and lets you hear about a trade he did.
When his class first started it was 5k now its 9k and they still sell out. Not worth 9k when you can get the same info for 1.50 in late charges from your library.
thanks great info, i am in no rush to make back my 9k (by the way in january it goes up to 13k for the same class)i understand from you and others 9k is a lot of cash to spend, my thinking is this yes i can learn by paper trading but it is not the same as real $ . and i understand it is very tight stop losses after $30.00 in 1 day my account will be frozen by his system.but i have time to get his forced system of learning. and when i am progressing they open up in size and pay upto 90% comp.. do you have any more feedback about his system,pay strecture,support, etc,etc,etc.. it sounds like you have taken the class ? i live in palm beach gardens florida,was your class in ft lauderdale?
I was in one of the Las Vegas class. The system taught is the same thing in a lot of trading books. He gives a free seminar before each paid one that reveals a lot of his info. If you read any number of trading books you probebly already know the system.
I feel that the problem with his program is the mentoring after the class. For someone that needs a helping hand the help just isn't there. Anyone can play can tell you what you should of done after you made a trade. Does that really help you?
Everyone says paper trade, paper trade... are you doing it? Yes its not the same as real money.... Ok trade 10 shares, thats real money.... 9k is a lot of losses even at 30 dollars a day.
Sounds like you are sold on the program. Its not that bad... but at 9k your money if better spent elsewhere imho.
I feel that the problem with his program is the mentoring after the class. For someone that needs a helping hand the help just isn't there. Anyone can play can tell you what you should of done after you made a trade. Does that really help you?
Everyone says paper trade, paper trade... are you doing it? Yes its not the same as real money.... Ok trade 10 shares, thats real money.... 9k is a lot of losses even at 30 dollars a day.
Sounds like you are sold on the program. Its not that bad... but at 9k your money if better spent elsewhere imho.
I also signed up with VCM Velez Capital Management Trade for Life. Be VERRRRY! aware. I have been trading on my own for some years making a nice living and thought this "program" might bring my trading skills to the next level. Well was I surprised. Not only is their platform buggy (by their own admission) but trying to advance to any profitable levels would take more than the skill of a surgeon and patience of a saint. It would be YEARS before 99% of us could possibly make any realistic money with them due to the fact that they have consistently CHANGED THE RULES over and over!(documented) They will NEVER show you the percentage of people who have gone from training level to a profitable level (able to live on) or the dropout rate, although many have repeatedly asked. They say it is for the others privacy.
Oliver Velez is an Extremely convincing speaker (evidenced by the way people call him a "GOD and GURU" in his chat room) probably his greatest attribute and the reason many sign up. The people in the chat room are FORBIDDEN from voicing ANY negative experience they had or are having with the platform, program, or staff. (talk about one sidedness) Try it and you will be booted from the room. This is their way of keeping everyone seperated and from finding out that MOST OF THE GROUP ARE HAVING THE SAME PROBLEMS.
If you have any issuesThey will Never, Never take your side in ANY disagreement and are downright rude. They basically say take it or leave it! Oh, and by the way, "Its take it or leave it" ... without your money!!! After they get your money don't expect very much.
Oliver Velez is an Extremely convincing speaker (evidenced by the way people call him a "GOD and GURU" in his chat room) probably his greatest attribute and the reason many sign up. The people in the chat room are FORBIDDEN from voicing ANY negative experience they had or are having with the platform, program, or staff. (talk about one sidedness) Try it and you will be booted from the room. This is their way of keeping everyone seperated and from finding out that MOST OF THE GROUP ARE HAVING THE SAME PROBLEMS.
If you have any issuesThey will Never, Never take your side in ANY disagreement and are downright rude. They basically say take it or leave it! Oh, and by the way, "Its take it or leave it" ... without your money!!! After they get your money don't expect very much.