I have been keeping track of OMNI for a year and this are the results.
June 4, 2010I have been keeping track of OMNI review for one year and my conclusions are short. There is no way you made money following OMNI to the letter. If you did make money, you most likely would have made it anyway.
Another conclusion i drawn is that looking back at OMNI review is that it the “last prints” used in the flash updates are impossible to get and that Oscar somehow is able to grab the highest tick with MIT orders. If you don’t understand MIT orders anyway, i suggest you to stay away from the trading game for a while.
Results
The results are available here for everyone to verify. From this data this chart, displaying the account value of an account worth 25k (5k more than what Oscar is recommending as minimum) , paying 50 roundtrip commissions ( the standard commission for a new account at Oscar).
50 r/t commissions may sound very high to some, very low to others, but for one year of following OMNI, paying 50 USD roundtrip means that you have to gain more than 20k just to get break even on the commissions. Translated: Oscar made at least 10k on you, risking nothing while you still haven’t made a dime.
The Deleted OMNI recommendation of the 25th of March 2010
The OMNI review is missing the recommendation for the ES on the 25th of March 2010. This was a losing trade, he got stopped out twice, quickly deleted by Oscar after the close.
Here is a screenshot of the old website where it was still available by a bug in the system.
Responding to alert members who missed the trade on the OMNI recommendation page got these replies.
oscar1 says to (17:25:32):
stupid assesoscar1 says to (16:47:37):
you will need 10 thousand of you losers stacked up one on another to come close to a guy with my integrity
anyone know if there is a problem with recommendation page?maida says to (16:37:03):
looks like they got rid of the s&p recommendationrealtrader says to (16:39:54):
what was the s n p recmaida says to (16:40:12):
not a good oneoscar1 says to (16:43:48):
what does that mean we got rid of a rec?oscar1 says to (16:44:14):
all recs are archived and for all to seeoscar1 says to (16:45:12):
the rec out now is to continue to hold short beansoscar1 says to (16:45:25):
as we are into “tomorrow” alreadyoscar1 says to (16:46:23):
basher commentoscar1 says to (16:46:27):
its all goodoscar1 says to (16:46:33):
^&%$ me bashersoscar1 says to (16:47:04):
those who are total losers at life always try to make others look worse than themselvesoscar1 says to (16:47:37):
you will need 10 thousand of you losers stacked up one on another to come close to a guy with my integrity
Well i still can’t see his ES recommendation.
Other irregularities in OMNI review:
Glad to see someone is proving to all the new traders what oscar is all about before they pay him a penny. The fact that you’ve gone over every single trade and looks like you were always giving him the benifit of the doubt because I know he didnt get filled on many of those winning trades. And you don’t include the losers he warns not to get in on because he is already in a similar trade.
I understand for a new trades that Its easy to want to follow a 27year vet especially with those videos, but the truth is he is just out to make money off his clients not for them. He stopped holding his daily classes removed his gold chat room, never gives reasons for his entries and stops, just says you need to do your homework and take the trade. He never told me how to do the homework. I was a VIP member, I paid him 1300 in commissions in a month and he never answered a questions never reviewed the trades with me, prolly because I took his trades exactly and lost money. Would be hard to tell me what i did worng when i listened to him.
I found another website http://www.fadethetrade.com which also has a lot of upset ex members. How has he pissed off so many people? I haven’t found a anti-trading guru site like these for any other trading site. He spends everyday having to defend his chat room from “bashers”. Why is it that way for him? I dont see that problem other rooms I’ve been to? Even if the guru is a losing trader I still don’t see bashers. People don’t get upset about taking losing trades, they get upset about being scammed and lied too. Those other guys give you reasons for the entry and the stop. Oscar doesn’t do that, he says enter around here and stop around here, and exit now if we don’t go lower/higher. claims the best possible entries stops and exits. all lies. and you don’t figure out he is a liar until after he takes your money
Is it the hundreds of bashers that are wrong, or is it the bashers are telling the truth and trying to save others from Oscar.
If Oscar did what he promised he wouldn’t have many bashers. but the fact is he doesn’t do what he prmoses, he and excellent salesman and only tries to upgrade you into the next level. He does this because you know preys on you. He has set it up to make you think that the next room will clear things up for you because you think you are failing to translate what he is saying in his flashes and promises you it will get clear if you just pay him more money. which is a lie.
Thursday 6/17/2010 he entered 6EU0 (EURO) at 1.2340-1.2350. That’s the easy part. the then said put a stop “above and I MEAN above” the 1.2380. it went 40 pips against and he flashes a stop saying he got stopped out at 1.2380 and you only lost 30 pips, to me that’s not above ” I MEAN above” 1.2380. but okay lets give him the benefit of the doubt it was only a 30 pips loss. Then the next day 6/18/2010 he says to enter NQU0 (NASDAQ)at 1912-1915 with a “tight” stop above 1923. we went to 1924.75, but he didn’t get stopped out.those are the actually recs the premium rooms got.
This is the trick he plays on the copper room and the gold members to get them to upgrade. because he always says the Premium room made money. the fact is he is a liar. If the Euro would have only gone to 1.2400 and dropped so he could get out a break even he would have been in the trade. but the fact is it went 43 pips and never came back to break even. He doesn’t give exact stop levels because then he could never weasel his way out of a lost trade, but he can if there is any question on where the stop was.
Last week was his best week in over a year. Yet he still has to find a way to lie on his recs and remove flashes. even on a good day. yesterday he shows he had 8 flashes but he only shows 6 total. 2 in beans, sugar, NQ. What is he hiding?
Bashers only want to expose him for what he is, A scam artist. If you still are not convinced about oscar after reading this site and fadethetrade.com. Ask yourself these questions. If he was so great or even average then why are there only 20-30 people in his premium room after being in business for so long. Ask how many people have attended his omni camp that they spent 4 days and 5,000 on and notice they are no longer in the rooms. Only people that defend oscar is gtrader and that’s because he is an employee. Ask why you cant talk privately to other member. Ask why he has 6 flashes on a 8 point winner and zero or maybe only 1 on a 80 pip loser. Ask yourself why you see a new group of people in the chat room ever 30 days. And when someone does defend oscar, they all say the same thing, that you need to trade for yourself and they only use oscar as a direction but i don’t trade his recs or use his stops. I use much tighter stops. That’s not a defense for him, that’s actually bragging that they know he is a losing trader and they don’t lose as much as him.
Best of luck traders, and protect your accounts
Haha – didn’t see your blog earlier… How does your graph draws if you count $4 round trip??? Can we make money using discount broker?
@ tradersu: I was going over the spreadsheet and it seems like in the last 3 columns, 1 column shows trading results w/o commissions and the final column shows trading results with commission.
Thank you very much for the warning.
Your English is terrible.
It is still beter than Oscar’s