I have watch Oscar closely during the past 3 months 5/09-7/09, as my friend is a premium member and we trade together.<br />
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Oscar is just a trend following broker (if he's lucky), anybody's grandmother can follow a trend and make money I've seen so many bad trades of his, Natural gas, Bonds, S&P, Nasdaq, you name it. He also fidgets the numbers after he trades.<br />
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Oscar charges such a high commission rate (50.00 a contract WHAT!!) With astronomically high stops 1000.00 stops, yes you read that right, and doubles down in losing trades, all the things you are not supposed to do. Along with the big one DO NOT TRADE A BROKERS RECO'S. <br />
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I watched him trade for my friend (who will remain nameless due to the fact that cult leaders need followers) when my friend had to leave for the day and Oscar cost him $450.00 + 100.00 commissions. this was during a nice trending day. Yes he doubled down again before getting stopped out.<br />
Beware this complaint is true and I will stand on it.<br />
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He does have a few good trades but the bad one's, the LARGE stops and the 50.00 commissions (if you become a premium member), WILL wipe you out sooner or later. <br />
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He has something called an afternoon delight (AD) at 3:40pm he will not put this trade on until this exact time even though the trade started at 3:30 or 3:25. The last 10 of these trade were tracked, with a profit of 1 point but he still gets his 50.00 commission for every contract.<br />
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He offers a trading contest using a scaled down trading platform with very few indicators, so you will lose even with a simulated account. Then you will believe that you need his reco's and his trading class, where he talks about head and shoulders, flags, pennets, etc patterns, but not how to trade in the present tense.<br />
He will not give you any trading tools to use, will not give you his "proprietary moving average". He says he will teach you how to trade with the right mindset. Then gives you nothing but his reco's. <br />
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Folks trading is stressful enough without brokers so why expose yourself to extra stress and falling into this trap. look for bottoms and tops using indicators. and for God's sake use tighter stops. <br />
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