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Larry Levin's Secret of Traders (www.tradingadvantage.com)


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Larry Levin's Secret of Traders (www.tradingadvantage.com)

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  #1 (permalink)
 Cloudy 
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I didn't see a review thread on this one. But I got a lot of email ads from the site. I did sign up for their free newsletter which is interesting commentary on an almost daily basis about the economy and markets in general. I had seen Levin occasionally on CNBC. Then recently I got a phone call (not sure how they got my phone) from a sales guy asking me if I wanted to try Levin's program and said I could make thousands following along in their live trading room. I said I was already doing my own thing. He wasn't pushy or aggressive, but I kind of felt sorry for him as he sounded kind of worried as we ended the call. I looked up any reviews on Levin's site, and just came up with one major thread on T2W.

Larry Levin Secrets of Traders

First 10 (pg.4) and last 10 pages are kind of interesting.

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  #3 (permalink)
 Cloudy 
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Has anyone else tried it, or at least got email ads from them, or seen the site?

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  #4 (permalink)
 Nicolas11 
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Hi Cloudy,


Cloudy View Post
Has anyone else tried it, or at least got email ads from them, or seen the site?

I receive e-mail ads, but have never investigated further.

Nicolas

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  #5 (permalink)
 tastypaint 
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TA provides you with two rooms, plus one more add on room.

I've have been in this room for awhile. Patrick's MP room will give you a good education on how to see and play the market. it is a solid system. but it is limited in the oppurtunitys that it gives you. Patrick can be a difficult personality (to say the least), but his trading approach is good. and a good place to start.

I haven't been in Dan's room for a long time. If you are interested in tape reading from a bid/ask delta chart, he can be a good mentor. Just not for me.

the new room is Patrick's volume profile based approach for CL, GC and the NQ. Many of the life members feel they have been screwed by this add on (advanced) room. As we feel we were promised all the training developed in the future in our life membership. The sales teem are aggressive.

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 lrfsdad 
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I got an email with a link to his trading records. Can someone such as @mattz (a broker) prove me right or wrong, that most of the profits here are from offsetting the es against the big pit traded contract. Not necessarily trading the es out right.

Learn to Trade, How to Trade - Larry Levin's Trading Advantage

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  #7 (permalink)
 mattz   is a Vendor
 
 
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lrfsdad View Post
I got an email with a link to his trading records. Can someone such as @mattz (a broker) prove me right or wrong, that most of the profits here are from offsetting the es against the big pit traded contract. Not necessarily trading the es out right.

Learn to Trade, How to Trade - Larry Levin's Trading Advantage

I apologize, but I can't make interpretations of statements on a public forum.

Matt

Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
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  #8 (permalink)
 Cloudy 
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Marvelous;
Welcome feedback from Emini academy vs Trading Advantage
I am a newbie and studied E-mini trading with Trading Advantage a couple years ago for a couple of months. Due to personal issues stopped all together. I am researching to start all over again. I am happy to have found this forum. If you could give me your honest opinion E-mini Academy vs Trading Advantage much appreciated

re: Levin's Trading Advantage: All that's needed to be said is here:
Larry Levin Secrets of Traders - Page 33

If you look back on the last 20 pages or so it's filled by a spam flood of "1 post" "member" "testimonials".

More recent reviews here:
https://www.ripoffreport.com/reports/specific_search/trading+advantage

https://www.ripoffreport.com/r/trading-advantage/chicago-illinois-/trading-advantage-rip-off-not-worth-an-investment-chicago-illinois-959920

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 dynoweb 
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This is one of the many different programs that I've purchased. Based on the educational material which I received I converted the rules to a NinjaScript strategy and did what I could to verify the methodology. I wasn't able to fully match the rules since I wasn't using one of the key concepts of their trades, market profile. Even without that, the strategy wasn't too bad. For those wondering, it wasn't consistently profitable.

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  #10 (permalink)
 forgiven 
Fletcher NC
 
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Cloudy View Post
I didn't see a review thread on this one. But I got a lot of email ads from the site. I did sign up for their free newsletter which is interesting commentary on an almost daily basis about the economy and markets in general. I had seen Levin occasionally on CNBC. Then recently I got a phone call (not sure how they got my phone) from a sales guy asking me if I wanted to try Levin's program and said I could make thousands following along in their live trading room. I said I was already doing my own thing. He wasn't pushy or aggressive, but I kind of felt sorry for him as he sounded kind of worried as we ended the call. I looked up any reviews on Levin's site, and just came up with one major thread on T2W.

Larry Levin Secrets of Traders

First 10 (pg.4) and last 10 pages are kind of interesting.

i have reviewed the material from my trading partner.... very basics of market profile with a few candle stick patterns ..not worth the time to read the material even if it was fee

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  #11 (permalink)
 tradermark2009 
Concord, CA
 
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The T2W thread was closed a long time ago. So hoping if anyone has any word on this now. Pro/Cons would be great.
Do they trade what they teach?
Are they decent traders?
the cost so far is about 3K for 3 months in a room, with Patrick calling trades. Then 4500 for a year.
Not a lot a money, but do they do what they say.
Pls. just actual ppl who have taken the course, not comments from ppl who haven't used it.
thanks




forgiven View Post
i have reviewed the material from my trading partner.... very basics of market profile with a few candle stick patterns ..not worth the time to read the material even if it was fee


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 forgiven 
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tradermark2009 View Post
The T2W thread was closed a long time ago. So hoping if anyone has any word on this now. Pro/Cons would be great.
Do they trade what they teach?
Are they decent traders?
the cost so far is about 3K for 3 months in a room, with Patrick calling trades. Then 4500 for a year.
Not a lot a money, but do they do what they say.
Pls. just actual ppl who have taken the course, not comments from ppl who haven't used it.
thanks

i never seen a moderator that can trade ,i have seen quit a few. seek free weekly trail. the things to look for in a trade room is does the moderator show his dome and takes trades in real time. does he open and review longer time frame charts be for the trading day starts. monthly ,weekly, day. if not he is just playing trader. most are.

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 Kujo 
Boise, ID USA
 
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https://www.tradingschools.org/reviews/trading-advantage-with-larry-levine/

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 iq200 
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I'm not saying that Larry Levin is legit - I have no clue. However take what you read on Trading Schools with a pinch of salt. There are mostly people on that site with an axe to grind as they can't trade or simply can't be bothered to learn and just b*tch about every course or service. As an example Al Brooks has a very bad rating on there also.


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 karentrader 
burlington, vt
 
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I've never seen a trading site that *wasn't* run by a snake-oil salesman. The ones i've seen are not traders, but people looking to make a full-time income by promoting the idea of trading via courses, seminars, products, and the like. With that being said, trading schools site is a joke. ex-con who essentially blackmails marketers. asks them to provide their financial information to him as a 'proof of trading success' and if they don't comply, he posts that they are all fraudulent and don't trade.

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 dk27 
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If vendor claims making 1000% or whatever a year, everyone has to ask for evidence not only TradingSchools.



karentrader View Post
I've never seen a trading site that *wasn't* run by a snake-oil salesman. The ones i've seen are not traders, but people looking to make a full-time income by promoting the idea of trading via courses, seminars, products, and the like. With that being said, trading schools site is a joke. ex-con who essentially blackmails marketers. asks them to provide their financial information to him as a 'proof of trading success' and if they don't comply, he posts that they are all fraudulent and don't trade.


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Pedro40
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karentrader View Post
blackmails marketers. asks them to provide their financial information to him as a 'proof of trading success' .

Yeah, he dares to ask for proof of outlandish claims. How dares he???

Now somebody who charges 5K for a course could easily run a small real account ready to be shared with possible costumers. Yet almost nobody does that, you might wonder why....

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 karentrader 
burlington, vt
 
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Pedro40 View Post
Yeah, he dares to ask for proof of outlandish claims. How dares he???

Now somebody who charges 5K for a course could easily run a small real account ready to be shared with possible costumers. Yet almost nobody does that, you might wonder why....

I think you missed the whole first part of my post.

And yes. How dare he. He is a convicted fraudster who will then have access to sensitive, personal information. Legit or not, he loses all credibility if he states 'they won't comply to him'. If you received a random phone call from such a person asking for your broker statements or he'll publish a scathing review, what would you do? Personally I'd get his site shut down, but maybe that's just me.

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Pedro40
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karentrader View Post
1. He is a convicted fraudster
2. If you received a random phone call from such a person asking for your broker statements

1. I guess you don't believe in redemption and 2nd chances. Also you are killing the messenger.

2. He is not a random person and if I were in the vendor business I would have a live track record to show.

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 forgiven 
Fletcher NC
 
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karentrader View Post
I think you missed the whole first part of my post.

And yes. How dare he. He is a convicted fraudster who will then have access to sensitive, personal information. Legit or not, he loses all credibility if he states 'they won't comply to him'. If you received a random phone call from such a person asking for your broker statements or he'll publish a scathing review, what would you do? Personally I'd get his site shut down, but maybe that's just me.

he gives the people he reviews more of a chance than they give us. there are ways a broker can tell him the owner of a trading account can trade with out giving him the account number. brokers are not angles , they know 99 % of retail day trader fail , you do not think the idea of taking the other side of there trades ever crossed there minds. they also know where the stop locations are , no way they would gun for them .

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  #21 (permalink)
 kevinkdog   is a Vendor
 
 
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karentrader View Post
I've never seen a trading site that *wasn't* run by a snake-oil salesman. The ones i've seen are not traders, but people looking to make a full-time income by promoting the idea of trading via courses, seminars, products, and the like. With that being said, trading schools site is a joke. ex-con who essentially blackmails marketers. asks them to provide their financial information to him as a 'proof of trading success' and if they don't comply, he posts that they are all fraudulent and don't trade.

Wrong.

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  #22 (permalink)
 kevinkdog   is a Vendor
 
 
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karentrader View Post
I've never seen a trading site that *wasn't* run by a snake-oil salesman. The ones i've seen are not traders, but people looking to make a full-time income by promoting the idea of trading via courses, seminars, products, and the like. With that being said, trading schools site is a joke. ex-con who essentially blackmails marketers. asks them to provide their financial information to him as a 'proof of trading success' and if they don't comply, he posts that they are all fraudulent and don't trade.

It is really simple:

LEGIT PROFITABLE VENDORS

1. Get a statement, redact personal info, and send it. Or get a legit auditor/accountant to certify the trading results. Profitable educators should be eager to prove their profitability, to separate them from the snake oil pack.

2. Sue Emmett for incorrect defamatory/libelous review. The thorny part of this though is something called "discovery," where the educator would have to disclose trading results to the court to prove his case. In the end the truth would come out, and for profitable legit educators, this should not be a problem.



NON-PROFITABLE VENDORS, SCAMMERS, ETC

1. Ignore the review, hope it goes away, or hope that people do not see it.

2. Invent all sorts of reasons why real results cannot be provided. I know of many educators who claim it is illegal to show trading statements - 100% not true. What is even more amazing is that people believe these excuses. They want to believe in the "dream" I suppose.

3. Have shills, clients, or aliases bash the site or Emmett, to distract from the profit question.



Rather than trading schools being a"joke," I see it for what it is - a site that has saved many people lots of money. The only people who hate the site are the scammers and their fans.

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  #23 (permalink)
 karentrader 
burlington, vt
 
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kevinkdog View Post
It is really simple:

LEGIT PROFITABLE VENDORS

1. Get a statement, redact personal info, and send it. Or get a legit auditor/accountant to certify the trading results. Profitable educators should be eager to prove their profitability, to separate them from the snake oil pack.

2. Sue Emmett for incorrect defamatory/libelous review. The thorny part of this though is something called "discovery," where the educator would have to disclose trading results to the court to prove his case. In the end the truth would come out, and for profitable legit educators, this should not be a problem.



NON-PROFITABLE VENDORS, SCAMMERS, ETC

1. Ignore the review, hope it goes away, or hope that people do not see it.

2. Invent all sorts of reasons why real results cannot be provided. I know of many educators who claim it is illegal to show trading statements - 100% not true. What is even more amazing is that people believe these excuses. They want to believe in the "dream" I suppose.

3. Have shills, clients, or aliases bash the site or Emmett, to distract from the profit question.



Rather than trading schools being a"joke," I see it for what it is - a site that has saved many people lots of money. The only people who hate the site are the scammers and their fans.

I must be a scammer then.
Great logic.

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 kevinkdog   is a Vendor
 
 
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karentrader View Post
I must be a scammer then.
Great logic.

Exactly why do you think that site is a joke? Why is asking an educator for proof a bad thing, especially when most boast about how much they make?

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  #25 (permalink)
 Kujo 
Boise, ID USA
 
Experience: Intermediate
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Trading: oil
 
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karentrader View Post
I think you missed the whole first part of my post.

And yes. How dare he. He is a convicted fraudster who will then have access to sensitive, personal information. Legit or not, he loses all credibility if he states 'they won't comply to him'. If you received a random phone call from such a person asking for your broker statements or he'll publish a scathing review, what would you do? Personally I'd get his site shut down, but maybe that's just me.


I am confused as to why anyone would want Emmetts site taken down. I can't imagine how much money he has saved people from wasting buying into the "trading is easy learn to trade with me and quit your job and get rich" game.

There are well over 1000 charlatans in this game and from what I gather, 99% are con men and women. If they could do what they say they could do, there would be million opportunities for them rather than hustling the next sucker.

If I saw someone bragging of 80% to 80% success or saying I can earn X amount per day on Y contracts, and this is what they were promoting, why would I NOT ask for proof?

If I was looking for bids to get my kitchen remodeled, and someone bid $20000 and they were the lowest bid and bragged how amazing they were, but I could find nothing on any review sites, and they provided no references, there was no BBB on them, that I would check out despite my requests, or no former employers to vouch for them etc, and they wanted $6000 upfront to start the work, would I go with them?

Of course not.

When I read Emmett's reviews, he talks of what he goes through to try to interview these folks and what happens in those attempts and the excuses they make. It all sounds perfectly real to me.

I have NO REASON AT ALL to doubt what he is writing. I don't think anyone could be more forward and transparent of their background then Emmett is.

If I was one of these fraud vendors that was being taken to task by Emmett, I would have a dedicated page on my site and post it ON Emmetts site because he doesn't delete posts, PROVING Emmett wrong and making him look like a fool. It would be awesome advertising. No one does this... Gee... I wonder why?

Very happy with Emmett's site. I don't think he keeps up with it as much as I would like as some of the good reviews are probably not so good anymore - vendors crash and burn - with some of those vendors but other than that, I doubt he is getting rich on banner ads

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Pedro40
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karentrader View Post
I must be a scammer then.
Great logic.

Why, are you selling something? And yes, Kevin is right and you are wrong and you couldn't even come up with a decent argument.

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 SpyderTrader 
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iq200 View Post
As an example Al Brooks has a very bad rating on there also.

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Cuz hes a SIM trader.
In fact hes a SIM trading hero.

Around 5% move the market. 10% try to follow the 5%. The rest provide liquidity.
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  #28 (permalink)
 Cristian 
Bucharest - Romania
 
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I put here a quote from the latest book of a great former trader Nassim Nicholas Taleb - Skin in the Game: Hidden Asymmetries in Daily Life:

"Never trust anyone who doesn't have skin in the game. Without it, fools and crooks will benefit, and their mistakes will never come back to haunt them."

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  #29 (permalink)
 wldman 
Market Wizard
Chicago Illinois USA
 
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typed a huge detailed response for this thread and lost it. Can that be recovered? If not it will have to wait till the afternoon. Dang it!

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  #30 (permalink)
 dbarno 
Madison, Wi
 
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Trading Advantage didn't work for me. Huge drop out rate. Will not repeat that mistake again.
Do not sign up to be a lifer. He pissed off a lot of people with that.
Pat has a personality that is abrasive to some people.
Aggressive sales dept.
When I was there the trading platform was a train wreck.

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 wldman 
Market Wizard
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maintain the effort put in to the earlier "lost" post.

What I don't understand is what Larry and his partners would even consider being in the advice business. Larry is a legit trader. Some of his partners are legendary...the type of traders that books are written about, really.

I'm not saying that their approach is for everyone or that every trade wins, but guys, your comments about others say at least as much or more about you.

I'm sorry that I lost the litany of points based on personal experience with Larry Levin and his partner Scott Bauer. That said, I don't need to establish myself within the forum.

If someone wants to hear from me on this, inbox me.

Dan

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  #32 (permalink)
 researcher247 
Chicago, IL
 
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It's pretty simple.

Levin made lots of legit income when floor trading was king. Back in the mid-late 90's he probably saw the transition coming from big SP's on the floor to eminis on the screen (I did as well).

He chose to then partner up and diversify his income stream w/marketing.

As electronic eminis took over volume in the big run up during the Nasdaq Bubble he increasingly over the next several years decided to make most of his income from marketing.

I suspect he was done trading on the floor around this time and completely transitioned to being a vendor for 90% of his income.

Anything marketed for over $500 in vendorville is probably just overpaying for information you can figure out yourself and create your own methods based upon individual experience/preferences/psychology/bankroll etc...

That written, in '98/'99 when the S&P and Nasdaq futures were MOVING nicely - the basic tenets of Market Profile he wrote about and a few tidbits in his Secrets of Traders Course (modified of course to suit personal needs) weren't terrible if you could sit in front of the market the entire day.

The moves were there. When market volatility contracts for extended periods of time and then dynamically expands in short bursts - that's where having a static approach really suffers.

Market Profile is interesting and provides context (better at times than others) - but it sure isn't the entire picture. Especially if you only trade 2 to 3.5 hours per day like many traders do VS the entire trading session.

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 edztrdr 
Philadelphia, PA/USA
 
Experience: Intermediate
Platform: Metatrader,ninjatrader
Broker: NinjaTrader Brokerage
Trading: ES
 
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wldman View Post
maintain the effort put in to the earlier "lost" post.

What I don't understand is what Larry and his partners would even consider being in the advice business. Larry is a legit trader. Some of his partners are legendary...the type of traders that books are written about, really.

I'm not saying that their approach is for everyone or that every trade wins, but guys, your comments about others say at least as much or more about you.

I'm sorry that I lost the litany of points based on personal experience with Larry Levin and his partner Scott Bauer. That said, I don't need to establish myself within the forum.

If someone wants to hear from me on this, inbox me.

Dan

Hi Dan , Are they (TA) still in business ? I tried to go to their website and get nothing, thanks Ed

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  #34 (permalink)
 wldman 
Market Wizard
Chicago Illinois USA
 
Experience: Advanced
Broker: IB, ToS
Trading: /ES, US Equities/Options
 
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but I did see Scott Bauer last week in a blue, not green, trading jacket. The lapel read "Prosper Trading". That would imply some type of change.

I do not keep in regular contact with many people with whom my career path has intersected.

Generally I believe that the "advice business" is nefarious. But Scott and his (former?) partner Larry are certainly more than legit traders. I'd say that Bauer is nearly "Legendary". That is not an endorsement of an educational business....because I don't know anything about that. Nor, do I use any advice, research or paid service in my own trading.

BUT, If Bauer is on a trade, shout "WITH" and make an honest market, because few are better that he is.

The TA guys kept me on their prospect list and were always on point, knowledgeable and respectful. That said I have no idea about that business or any new business those guys may be in.

Dan

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