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Academy Day Trading (Todd Rampe) www.academydaytrading.com review
Trading: The one I'm creating in the present....Index Futures mini/micro, ZF
Posts: 2,311 since Nov 2011
Thanks Given: 7,341
Thanks Received: 4,518
I said this before and I will say it again. In the NBA an advantage is height. As a NFL lineman it's being 300lbs. As a ballerina it's being 100lbs. In gymnastics a shorter stature has an advantage. In the trading business a large account is a huge advantage!
With a small account trade FOREX!!!!!!!!!!!! Worry about futures later. Open a FOREX account today. A $75 stop is a huge range with a micro lot! If you don't know what I'm talking about ....well at least you now know what to study.
There is no magic system or magic software! IT IS A BUSINESS. Develop a BUSINESS sense. Tis why most small businesses fail. Most people do not understand simple business practices.
Would you buy a regular cup of coffee for $25? Of course not. But you should sell one for that. ...Why am I saying this????????????????????????
Ron
...My calamity is My providence, outwardly it is fire and vengeance, but inwardly it is light and mercy...
The steed of this Valley is pain; and if there be no pain this journey will never end.
Buy Low And Sell High (read left to right or right to left....lol)
They are associated with Steve DeWitt, perhaps this fact can help to stay away. Even though I don't understand how could anyone consider them seriously.
I did a trial during which I made a lot of "sim money". You will need those kind of days, because you can easily lose $2K in one day following their trade plan with huge stops (22tics) and relatively small targets (6-8 tics plus a runner). You will have to have a huge account to trade this thing.
Their "recaps' prove they don't actually trade their system. There are many big winners they claim that were either small winners or losers in actual trading. When I pointed that out, they said "recaps are not meant to show what you would have made, just to show the setups".
These guys are just salesman, not traders. They are outstanding salesmen with a lousy trading system.
They fired DeWitt because he wouldn't trade their system as advertised. The new guy, Scott, is a nice guy, but the system is not holding up when traded as instructed by Todd, so he has been given permission to put his own spin on it. Seems like the guy who claims to have traded this thing for 7 years would know what works by now.
In any event, save your money. Don't buy this thing.
BTW, another reason not to trust these guys. They will not allow people to post phone numbers or email addresses. Only reason has to be they don't want us suckers to get together and find out it isn't working for anybody else
Todd started a trading room himself in around August or September of 2013. I had gotten promotional emails, and of course he had 'evidence' of his successful trading, and it looked pretty good (this was still before I realized that 99.9999% of rooms are scams). I believe I signed up for $500 a month.
To make a long story short, Todd sucked at trading. His trades in the room were the total opposite of the results he had posted in his promotional materials (go figure). I would be sitting there talking to my trading partner, and Todd would put in an order for a trade, and I'd be saying to them, 'based on price action alone, I wouldn't go short here. I'd do just the opposite'. And sure enough, Todd's trade would be bad. The room didn't last too long.
Anyway, the guy is a con, plain and simple. I looked into the new software knowing this, just because you know how us traders are. As someone said in another review, he cherry picks the markets. At the end of the trading day, they just look back over their software and found what market their software would have been successful and and then send you an email of what you could have made in that market that day.
There were some reviews of the room I was in posted on the Ripoff Report site, and they were right on. Todd came in attacking accusing them of being other vendors, etc, but they weren't. The reviews were spot on. If you Google his name, the Ripoff Report is the first thing that comes up. Trust me, everything said in these reviews are true.
