Trading The Tape Review

Trading The Tape Review
  • Honesty
  • Quality
  • Verified Trades
  • User Experience

Summary

Vendor refuses to disclose whether he even trades. If questioned, vendor responds with disdain and disbelief that anyone would question his integrity. Low user experience, trader receives no feedback or help during trading session.

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Pros: Clever sales copy on website hits all the right notes. As long as you seem like a rube, then vendor will treat you nicely.
Cons: Vendor refuses to provide any performance summary of personal trading. Even refuses to admit whether he actually trades. When asked if he would provide any disclosure, the vendor responded that he will be raising his prices shortly. No help during the trading session. You are trading on your own, with help from the educator.

In depth review of Trading The Tape

Trading The Tape is owned and operated by a single trader named Scott Maxie, working out of Toronto Canada.He offers an educational course at a cost of $1750 for three months. The course includes access to a library of training videos, and each day users can read a quick review of the bond futures markets via a rudimentary chat software. After three months, if the student wants to become part of, “a closed private group of serious professional traders” then student can pay an additional $750 per quarter to “receive unlimited training and be part of the synergy within the winners group”.

Scott Is A Tape Reader

Tape Reading Bond FuturesWhat is tape reading? First let me say what tape reading is not. Tape reading cannot be quantified. Its not something that can be back tested and scientifically validated. It cannot pass the null hypothesis. Is is an art form. It is the art of looking at the auction order book and divining the future. If you have ever seen a live order book, then you know that a massive amount of information can pass through the order book and this can generate a lot of visual stimulus. With lights and numbers quickly flashing, some traders claim that they can notice patterns that other cannot notice. Sort of like seeing a ghost, or having a strong intuition about future events, or mind reading. I personally believe in ghosts, but I am just not sure I believe in tape reading. But I am willing to listen and keep my mind open to the possibility that it exists and it works. But I am also a believer in science, and many psychologists that specialize in helping traders overcome mental mistakes also claim that Tape Reading is just Visual Release Hallucinations, or Charles Bonnet Syndrome. I wont spend an hour explaining what Visual Release Hallucinations are, but I will give you a simplified explanation. Suppose that you watching grass grow very, very slowly. Suddenly you see a plane flying overhead, and then you look down and see that the gardener just moved the grass. You quickly surmised that the plane flying overhead has a causation effect on the growing grass, and the plane actually triggered the gardener to mow the lawn right before your very eyes. Lets get back into the review, and the next section on Scott’s claims that he trades with nearly zero risk.

Trading With Zero Risk?

Trading The Tape ReviewIn additional to training videos, the student also receives access to a proprietary indicator on Ninja Trader, that shows the trader what the smart money is doing. Scott also claims that success is possible with 0 to 1 tick risk with his trading methodology. Yes, you are reading this correctly…0-1 tick risk on each trade. In the 400+ trading products that I have reviewed, this would be the first and only trading product that claims success with basically zero risk. Is this sounding a bit too good to be true? You can make up your own mind.

Digging Deeper For The Truth

Several weeks prior to writing this review, I contacted Scott with an alias name and asked a few questions about the education service. I started off my emails explaining that I was a complete newbie to trading. He responded nicely to my  newbie questions. But on the ensuing days, I started to ask deeper and more probing questions like how long have you been trading? How much do you typically earn each month trading? Would you be willing to show a monthly account statement of trading activity? Whenever I began to ask these uncomfortable questions, the conversation would immediately turn defensive and cold. He became offended that anyone should, or would ever question his credibility and honesty. I even asked him if he would be willing to verify a single trade, I never even got a response for this single and simple request, I just wanted to verify the existence that a single trade had ever occurred.

You Want Me To Trust, But Not Verify

Trust Trading The Tape?In truth, I have no idea whether Scott Maxie is really a professional trader or just another trading charlatan and or an outright fraud. Maybe even Scott Maxie is not sure. But one thing I am sure of, is that if you are going to give him $1750, then you are doing so on nothing more than hope and a promise. Perhaps after reading this, you will even work up enough courage to ask Scott to show you his trading statement. You would be surprised at how many people will not do this, because they don’t want to seem rude.

Anyway, there plenty of trading educators out there, and plenty that have specialized order flow indicators. And plenty that disclose trades, provide statements, and provide a live interactive training environment. Don’t waste your time or hard earned money on educators that refuse to verify that they have ever made even a single trade. Its just not worth the risk.

Scott, if you are reading this and you have a change of heart about being more forthcoming with your trading, then please reach out to me. Nothing would make me happier than to eat crow, and give my readers access to great trading product. I would love to rewrite this review!

Thanks for reading. And don’t forget to leave any comments or questions below.

 

 

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26 Comments on "Trading The Tape Review"

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Imad
Guest
Imad
1 year 4 months ago

I signed up with tradingthetape.com a year ago, you get training and software, plus a method that offers 0-1-2 ticks stop. Focus on risk control and let profit come in your way. If I did not love it, then why would I have signed up 4 times! Two words great stuff.

trevor
Guest
trevor
1 year 5 months ago

hi rob,

you’d have to ask scott for that. i am not affiliated with trading the tape.

Joe
Guest
Joe
1 year 1 month ago

All these comments are probably the Scott guy and his son LOL. I agree 100% with the author of this review.

Joe
Guest
Joe
1 year 1 month ago

And if all these commenters love this guy so much then they are free to pay $1750!!!! and use his “fantastic” software. just don’t say you weren’t warned if it doesn’t live up to expectations.

Dan
Guest
Dan
11 months 16 days ago

Total waste of money. Could not stand his condescending attitude towards his subscribers. Makes you watch his old videos (from Feb 2014) over and over again. Total BS… He gives only vague answers when asked for performance history and actually becomes angry.

sam
Guest
sam
5 months 15 days ago

The guy basically says why bother with performance and evaluation then goes on ranting about this review and later TTT’s vendor review thread on Big Mike’s.
tradingthetape.com/performance/reviews/
It looks like the “chessbase” guy was an old plant. TTT has been around. many vendors join Big Mike’s early on as sleeper plants later.
https://futures.io/vendors-product-reviews/30031-tradingthetape-com-5.html#post553255
https://futures.io/vendors-product-reviews/30031-tradingthetape-com-4.html#post415465
https://futures.io/vendors-product-reviews/30031-tradingthetape-com-2.html#post405311

Pamela
Member
3 months 14 days ago
I’m quite surprised by the inaccuracies of this review. I do appreciate what the author is doing, as there are billions made each year by people selling trading education and the latest ‘magical indicator’. And I ahve fallen prey to a few of them. But the first time I read the home page of Trading the Tape my initial reaction was, “This is so obvious! Why doesn’t everyone trade this way?” I am now starting my second month with Scott and am thrilled with my education and the personal time Scott has spent teaching me. To clarify a few things:… Read more »
Osikani
Guest
Osikani
3 months 13 days ago

“To give Scott Maxie 1 star for honesty because he refuses to give you, a non-subscriber, any free information is naive at best.” Just like Nancy Pelosi told the Congress that they have to vote for the ObaminationCare in order to find out what is in it, he has to pay to subscribe before he knows that for which he is paying?

Such ridiculous illogic never ceases to amaze me.

trevor
Guest
trevor
1 year 5 months ago

so you in depth review on this system is based on a few emails where you didn’t get what you wanted. i wouldn’t give you statements either. have you even spent some time actually testing out his method…where is your due diligence. your review is full of inaccuracies based on opinion not fact. how about you actually do a review that people can get a point of view that is informed or leave it to someone that can. your review sounds like a cry to mom.

Tyler Voglini
Guest
Tyler Voglini
1 year 5 months ago

So we shouldn’t listen to Scott because he refused to show us his personal trading statements. Fair enough. But why don’t you post YOUR trading statement on this site, so we know who we’re taking advice from? I think it would lend more credence to your reviews. As you judge others’ website and methods, one could easily judge you. ie: having a site less than 6 months old with nothing more than affiliate links and Adsense, contacting vendors hiding behind alias names, etc Fair enough?

trevor
Guest
trevor
1 year 5 months ago

“Unfortunately, the internet is clogged full of folks selling indicator packages that promise trading riches.” absolutely…and that’s why you have to do your due diligence. get all the facts and make an informed decision. Scott has never or will ever sell an indicator. setting up a website and blasting the guy for it is wrong. im not sure where you are getting your information from but its grossly incorrect. his system is pitt based order flow…period. you said in your comment…Lets be objective…..your review is far from that.

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