DannyStang

My first Review:

Live with Oscar with ex floor trader Michael Carboni or Is it Oscar Carboni or neither? My understanding is he was a 26 yr floor trader veteran course I can’t find anything to verify that information.

I joined www.Livewithoscar.com aka www.futuresanalysts.com in December of 08 under username dannystang. This site seemed a little different from others I have experienced right from the get go, you are treated to a free room where you may see Oscar on camera talking about markets, the users welcome you right from the get go and instroduce you to Premium a $400 a month service where you make “the real money” and Oscar caters to your every whim.

One of Oscar’s employees immediatly welcomed me and told me I could have all these services “Free” as a special VIP member, sounds great. Oscar ask me to call him, and immediately I am greeted by a very charismatic Oscar who explains to me for minimum of 10k in his brokerage I to can trade futures with a professional who has made people 100’s of thousands of dollars.

Hmmm…You-tube guy screaming alot, trading futures, claims hes not like other snake-oil salesman, who makes people 100s of thousands. He even had one guy make 26k that month who just started! Holy crap - I am IN! He further explains he can trade my account as hes does full service for his V.I.P.s my only question was what was the downfall as futures trading is risky right? He got a little more aggressive, and explained what downfall can be had with 24 yr veteran.

Oh he did mention one little other detail, he charged $50 per contract round trip, I believe my think or swim account is $5 for comparison purposes.

Looking back you realize how dumb am I? But all these people making killer money can’t be wrong right?

So I begin my journey into the premium room, Oscar generally takes 2 trades, 1 being his normal trade another is called afternoon delight “AD” which supposedly is 90% correct? Right off the bat I began to notice this wasn’t a trading academy as he advertises but trade where he says when he says and don’t ask why. Naturally nervous I ask him to take my trades for me for just 1 week as I was not use to 15-16 pts stops ($700-$800 per contract) he tells me no problem.

A week goes by and he opens a chat window and tells me listen your not trading you need to trade to be in here otherwise your not learning anything. A little baffled I remind him of the 1 week agreement and he tells me I really need to do it on my own. Ok fine afterall this is a professional he must know what I need to do.

I begin my trading…first I notice little things in chat which had me casting doubt, people being banned for disagreeing with his Technical Analysis, others just going crazy calling him a scam artist…Hmm something might not be right here.

3 months go by…30%+ lost at an average of 10% loss from base per month. Wait a second things are not adding up here. Oscar constantly asking me if I had taken his trades (I did avoid the euros trades and Wheat as I saw his stops were 2k per contract seem a little nutz I had already seen 2 stopouts). I was fed up started analyzing his TA as there was something similar I had seen on other blogs.

Then the shit really hit the fan, I found a site (will post if owner is ok with it check back) who had posted omni levels BEFORE oscar ever posted them, with explanation as to WHY and get this: FOR FREE. Wait a second here, I had paid for Omni / Oscars commissions, learned absolutely nothing (he does draw pretty channels and head and shoulders) and lost money.

How could the technical analysis be identical? Oscars a professional right? Who brags all day on how he makes so much money and is only doing this to help new traders make some also. I begin to ask him how he gets to hit technical levels. He ignores me day after day. Finally I was fed up and on the final day I planned to be there he posts a short in premium 2 pts below what this free site said a good short would be. I ask why not 2 pts higher and he gets very upset and tells me not to question him, as a matter of fact someone in the same chat tells me no one questions the 10 commandments. This is getting out of hand. I tell the room goodbye.

Oscar proceeds to open a chat with me and once again asks if I had taken his trade (which was short continuation the the day befores fall) I respond that I was already short from the prior day in an etf so would not be trading es (futures) and he begins barking about his money and how he needed to make his commissions (right this is the same guy who is helping new traders cause he can make millions on his own).

What proceeded this was my withdraw of account from Doorman the clearing firm he uses. He banned my account as in his own words “not to poison his other clients”, and removed and you-tube posts within minutes as there is nothing that terrifies this gentleman more then people knowing the truth of his service. He further told his audience I had to be banned because I would call him at 4.am (what a lying scumbag really)

To summarize, as a premium member I was motivated to cheerlead for Oscar, he would ask us to “get some of those guys in free chat here” post postitive you-tube ads, and never question him ESPECIALLY in public chat. (he monitors private chat btw).

Futures trading is risky and I am not complaining because I lost it was a risk I was willing to take.

This my experience with a Liar, who overpromises, underdelivers and worse preys on inexperienced traders. What really adds insult to injury is his own employee admitted to me his account was nearly blown apart and he did not know what to do. What kind of garbage individual who claims to make ungodly amounts of money have a member of his own team losing at trading? If this his how he treats his own employee don’t expect any better.

You have been warned.

Danny

(Note: Here is another ex-premium member post on elitetrader forum link)