Oil Trading Group…6 months later.
This past December, 2014, I posted a very positive review of The Oil Trading Group. You can read the original review by clicking here. What is the Oil Trading Group? The Oil Trading Group is a live day trading room, owned and moderated by Jason Love. Since my last review, The Oil Trading Group has grown a bit. There is now has a full time assistant named Dave Hamman. Dave’s job is to handle subscribers, answer technical questions, help subscribers set up their trading platforms correctly, take sales calls, basically Dave Hamman allows Jason Love to focus on just trading. The entire focus of The Oil Trading Group is trading crude oil futures.
The Past And The Future
How did I find Jason Love and The Oil Trading Group? Last year, while trolling through the successfully funded traders at TopStepTrader, I discovered that Jason, in addition to trading for the TopStepTrader investment fund, had also recently set up a trading room advisory. At that time, The Oil Trading Group and Jason Love were relative newcomers to the trading education scene. In my opinion, the website reflected a one man operation, it was pretty rough. Over the past 6 months, Jason has added a blog to the original website that does a better job of describing The Oil Trading Group. In addition to a new blog, he also included a membership portal with some short and handy informational videos that helps traders get set up and trading as soon as possible. Both of these additions, as well as a super accessible Dave Hamman is a massive improvement regarding customer experience. Too many trading educators that I review will spend all of their time focusing on getting your credit card number, once they have your credit card number, then you are just another piece of meat on the assembly line. Jason’s focus has shifted from being more than just a signal provider, he is pushing aggressively towards providing a better customer experience and retention of subscribers. He appears to be doing a pretty good job. And there is evidence to back up my assertion.
Lack Of Complaints
I have learned that whenever I post a positive review, I have very little to gain and everything to lose. As a professional reviewer, a positive review is pretty much a lose/lose proposition for me. If I post a review that exposes a fraud, I receive a bunch of thank you’s from random people, and a few responses from others that got scammed, and many more from folks that read my review and avoided the mess of crap that many trading educators proffer. However, when I make a highly positive review…I need to be really, really sure that my review is not flawed. That every angle is covered. That every possible fraudulent angle has been explored. People read my review and then trust that the information is valid. That what they are reading is honest and not a hyped up piece of promotional bull crap. When I wrote my original, and highly positive review of Jason and The Oil Trading Group…I literally was biting my nails in anticipation. Surely some wreckage would wash up onto my blog and make me look like an idiot.
Over the past 6 months, I have had over 100,000 readers spend at least three minutes reading my original review. You can read it here. In addition to 100,000 readers spending at least three minutes reading this specific page, nearly 90% scrolled through the entire page, reading the review and the comments section. I thought that for sure, with 100% certainty that I would be receiving a boat load of negative comments. In truth, I received very little negative feedback. One thing I have discovered is that people will complain, and complain loudly about the tiniest indiscretion. But if a trading product is good…you wont hear a peep of positive feedback. Its as if the consumer of the trading product does not want to make too much noise about their little secret trading gem. They hoard it. But some reach out to me, in a non public manner, to let me know that they are experiencing a life changing transformation in their personal trading.
One of the ways that we can measure the true value of a trading room is to measure the success of the students. This is very difficult. Ultimately, how a student performs is all that really matters. We, as students and consumers of these products show up to make money. We are not there to make friends and chat. We are there to make money. Over the past 6 months, I have received several emails from student/subscribers telling me that they are happy with their results. When it comes in the form of an email, I pretty much just trash the message because vendors that get terrible reviews spam me with positive reviews of their product (The Investimonials Strategy). But when I receive positive feedback in the form of account statements or a congratulation letter from TopStepTrader, I take real notice, especially the TopStepTrader program. Let me explain…many of Jason’s students enroll in the TopStepTrader program because they do not have enough money to trade. If they pass the combine, they receive a trading stake from the TopStepTrader investment program. You cannot bullshit TopStepTrader. Period.
Since February 2014, I have now received my 5th confirmed trader that has now passed the TopTraderTrader trading combine and is trading with someone else’s money, and not risking their own money. The following is a screenshot of the actual combine tally sheet…for the most recent student of Oil Trading Group.
I would like for you to pay especially close attention to May 21, 2015 and May 12, 2015. Notice that on both of these trading days that the trader lost the maximum daily limit of $3,000. In spite of these two massive losing days, he still passed the TopStepTrader combine and received funding. Amazing.
What is crazy about all of this is that I recorded both of the losing days on Camtasia. And they were UGLY. In fact, I emailed Jason and made a comment on how he could possible offer a viable trading room when during the span of 10 trading days, he had managed to lose nearly $6,ooo dollars. Jason responded to my email by saying, “I pushed yet another newbie, know nothing trader through the merciless meat grinder of the TopStepTrader combine, how many of your other trading guru’s can say the same?”. What could I say.
The Making Of Sausage
Since December 2014 through May 2015, I have had unprecedented access to The Oil Trading Group. Jason has given me free and unfettered access to the trading room. I can enter and exit with zero notice. Sometimes I direct my assistant to drop in unannounced and begin screen recordings with no notice. I have recorded strings of up to two weeks. Jason sends me private messages how I am doing? I never respond because I am never actually watching live. I do the watching later. What do I usually see? I am not going to paint a pretty picture…sometimes Jason takes a terrible beating. I have seen multiple occasions where he starts off trading down $1,000 for the day, only to finish up for the day by $2,000. And this is really a common occurrence. It get ugly and messy and I talked about this in my original review. However, in speaking with Jason about these equity swings, he say’s…”this is what professional trading looks like”. And, “making a living at trading is lot like sausage making, you really have to have a tough stomach for what goes into the making of profits. This is a game where your only chance at success is to be both well capitalized and be extremely tough and resilient”.
Jason is tough and grisly.
I like to make fun of Jason Love. He is not very pretty. As this picture to the left accurately depicts…he is not the Wall Street type. It would fair to say that his days of youth and beauty are probably behind him. But what Jason lacks in youth and beauty, he more than makes up for in toughness and proven resiliency. Too many days to count, over too many months, I have watched this guy trade live. Under the pressure and microscope of my Camtasia screen recordings, he just keeps pushing through, putting his trades on the line for all to see. Nobody has ever contacted me and said that this guy is a fraud or a phony. In fact, the thing I hear most is about his mental toughness. I don’t hear much about the wins and the losses, its about the toughness. The grisly, ornery, meaty toughness of this guy. The will to show up every single morning and put on his game face. To start the day by taking on a broken nose and losing a tooth, but persevering through the early beating, only to gain traction and finish the day raising his arms in victory. Day after day, month after month, over and over again.
Tough Like A Turkey Drumstick
Jason and his trading room are a bit like a turkey drumstick. Have you ever eaten a turkey drumstick at your local fair? They always look so good when they are grilling and you can smell the smoke and imagine the flavor. But once you get this big thing in your hands, you quickly realize that its tough and grisly. Yes, it sort of tasty. But mostly its a big meaty thing that requires nearly superhuman effort to consume. This is sort of what its like trading with the Oil Trading Group, you are going to be handed this big meaty turkey drumstick, every single morning, and its your job to defeat this meaty thing by gnawing and gnashing. After awhile you discover that this trading thing is really a tough business. But ultimately, you discover that the drumstick is actually full of protein and quite healthy.
What We Know So Far
Over the past 6 months, the thing I have really learned regarding The Oil Trading Group and trading crude oil futures in particular, is that its a tough but lucrative game. This is not a scalpers market. This is the type of market where you really need to be well capitalized, and you need to be extraordinarily tough minded. The oil market can whip around and knock weak players out of the game quickly. If you show up to trade crude oil, and your account balance is $3k, then you are most likely just grease for the wheel. Guys like Jason are going to take your money and send you home with a sore bottom.
The Way Forward
In my humble opinion, and with much reservation, I feel that the best way to trade with Jason at The Oil Trading Group, is to trade through the TopStepTrader program. Why? Because Jason trades for a living. And since he is trading for a living, he trades multiple contracts, four contracts to be specific. And four contracts is much to much exposure for the average person reading this blog. Most of the people reading this blog are struggling to be profitable and trading with smaller accounts. Most of my readers cannot afford to lose $3k during a single trading session. And if they did, they would be so demoralized, heartbroken, gun shy, and saddled with doubt and fear that I doubt they would have the mettle to keep trading. The TopStepTrading program will allow you to trade 4 contracts of crude oil, and match the trades exactly as Jason is trading. If Jason gets on a hot streak, you could be a funded trader in short order.
For those with live trading accounts willing to trade a 4 lot, its one thing to say, hey I am OK with losing money because I know that Jason is a long term performer. But its entirely different when you experience the day to day grind of the oil market. You can make a lot quickly, and you can lose a lot even quicker.
Since I make recommendations, I feel the most responsible by recommending a system where you can replicate Jason’s trades exactly, not risk your own money, and yet still have a very good chance of quickly passing the TopStepTrader combine.
A Short Video
Below you will see a short, 15 minute video that I created from a live trading session of The Oil Trading Group. In reality, the trading session lasted 2 hours, but I edited out the dead zone where no trades were active. The remaining footage of live trades, which was 45 minutes, I edited the frame speed and condensed the play back rate. The net effect is that you get to watch an entire trading session in only 15 minutes.
How did I select the video? I actually have a massive amount of live recordings from The Oil Trading Group. I had some days where Jason took out over $5k, $4k, a bunch of $3k days. I also have a collection of $3k losing days. And so, when I decided on which recording to show, I decided to show the most “average” trading day. The video that you are about to see is really the closest representation of what an average day looks like at The Oil Trading Group. One more thing, since I had to speed up the frame rate, this made Jason’s voice sound like a chipmunk, so I removed the voice audio and replaced it with a few of my favorite songs. Hope you don’t mind my music selection.
Interesting Side Note
I wanted to make sure that I included an interesting email exchange that I received from a former student of The Oil Trading Group. I was contacted last April from one of Jason’s former students that passed the TopStepTrader combine challenge with Jason’s help. He explained to me how he began trading, mostly unsuccessfully for nearly 3 years and nearly altogether quite trading, however eventually through Jason’s tutelage he was able to finally become profitable. How he passed the combine, then promptly flunked out of the TopStepTrader program by over trading, etc. And that he went back through the combine and made it back a second time. It was a painful journey for him.
What I found interesting is the second time he went through the TopStepTrader combine…he did not do so as a member of The Oil Trading Group. He had learned the core principles behind Jason’s strategy and adapted them. He explained that he got deep into programming, backtesting, and validating what Jason had taught him. He feels like he improved upon Jason’s core knowledge and enhanced it. I do not want to make this “side note” another story altogether, however his story is interesting and I will be publishing the story in the near future.
I want to make sure that I am not outright endorsing the TopStepTrader program. Truth be told, it is a very difficult combine to actually pass. TopStepTrader is only looking for the cream of the crop. Most of us do not fit this description. However, the TopStepTrader program combined with The Oil Trading Group is something to consider for those with less than $25k in trading capital. Also, it might be a good option for those that do not have the mental toughness (yet) to handle multiple thousand dollar losing days. Something to consider. I will definitely be writing a thorough review of TopStepTrader in the weeks ahead. Highlighting the strengths and weaknesses. But that is another day.
Wrapping Things Up
Six months ago, I wrote a glowing review of The Oil Trading Group. Considering how volatile the equity curve, I was reluctant and expecting the worst. Over these last few months, I feel like I have validated the original review. I have amassed a huge amount of recordings and witnessed both the highest highs, and the bloodiest worst days of this trading room. The information that I have provided to you today is my best opinion, and my opinion is that The Oil Trading Group is still a high quality trading product.
Thanks for reading and don’t forget to leave your comments below.