Traders' opinion about PageTrader ES trading services (www.pagetrader.com) | Trading Reviews and Vendors


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Traders' opinion about PageTrader ES trading services (www.pagetrader.com)

  #14 (permalink)

New York
 
 
Posts: 3 since Mar 2011
Thanks: 0 given, 9 received

I tried pagetrader for about 6 months a couple of years ago. I have honestly been dying to write a review of this trading service for a while. I feel like it's one of the biggest scams going. I lost thousands of dollars trading his exact signals, which were totally aweful.

The problem, or the 'scam' part of pagetrader is that the system recommends going long or short at a particular price, PLUS OR MINUS two ticks. When they report the results, and advertise them on their site, they assume the best possible entry price. This effectively exaggerates all their results by two ticks, and if you go through ALL their posted results (which i have), you'll see they average two ticks per trade!!! I went back over months and months of their results and did the math myself.

Here's an example to illustrate what i mean:

They will recommend a buy limit order on the ES at 1332.0, and suggest that you could get up to two ticks earlier than that. IF the price comes down to 1332.5 and bounces up from there, they assume that you DID get in 2 ticks earlier (even though you likely wouldn't have filled), and made money on the trade. They report this as a winner.

If the price comes down to 1331.5, they assume you got filled at 1332.0 (even though they suggested you could get in as early as 1332.5). So, if this trade happens to be a winner, they report that they got in at 1332.0 (again, even though they suggested you could get in as early as 1332.5). See the problem? In addition to that, of course if this trade was a stop out, they report a loss of two ticks less than what it would really be if you got in at 1332.5.

So, they have a methodology which seems to break-even, and they exaggerate all the results by two ticks because they're assuming best-case scenario, so overall it looks like their results are profitable.

TOTAL SCAM ARTISTS.

I have been a member of many many trading rooms, and lost thousands of dollars with lots of them (like i did with pagetrader), but i REALLY hate these guys because i think they are completely dishonest.

I would highly recommend staying away, and not getting sucked in by their reported results, because they are total BS.

Cheers.

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