Someone from this forum named Thomas Spinner just sent me an e-mail asking me to check out 008trader.com. Have any of you heard of it? Doesn't look very professional. In fact, looks like a scam to me, but the returns the site shows are impressive (if they are real, which I seriously doubt). Just curious if you guys are aware of this, as I didn't see it in a forum search I performed. Watch out. Here is the text of the e-mail: Hey Crevalle, I just recently subscribed to a trading system that has done quite well for me. I have wasted my money on alot of junk out there and once I found this site everything turned around for me. http://www.008trader.com They have a referral program where I get money for people who subscribe using my name as a referrer. I just wanted to let you know that, so you understand where I am coming from. Anyways, if its something that you might be interested in then give it a try. Tell them that Thomas Spinner referred you when you sign up. 3 other guys on this board signed up last month and they already are profitable. I think alot of it has to do with the confidence a trading system (with past results) gives you. Either way, if you have any tips for me or new things to look at that you come across, please send them my way! Thanks, Thomas
I contacted these guys last week. I plainly asked the the guy (john) if he uses these systems in his own account and he said no. Then he said he uses other systems in his account. So I like that he was honest, but not that he wouldn't use something that he is selling himself. When I tried to ask more questions, he told me just to review the site and make a decision. He didn't seem very much into helping. Anyways, just my experience. In the end, I chose www.commandotrader.com because I have Tradestation and all of their automated stations you can own rather than rent.
Re 008 site above: It looks like a narrow-range break out system. Check RCII on 3/3 and AVCT on 3/4. In and itself not bad, but I can do that myself with a little help from a decent scanner or trading software. Learn how to fish for yourself.
Looking at his performance history, the first thing that comes to mind is commission. They would significantly affect his results. He is scalping often tenths of a percent which sometimes barely covers commission. The other would be slippage which may or may not be factored in.
Could you elaborate on "profitable" a bit? Are we talking 10%ish ROI, or considerably higher? How long have you been a member?
Yes, will do. Also, feel free to contact me with questions. Yesterday was a very good day for the trend system, nice shorts on the Eminis and Minis!
i heard on ET board different sales men come and establish few different identities. So thomas spinner and cravell is only the one person or ?
FYI, all of the 008trader.com members were informed a few nights ago that they are starting a free stock picks newsletter. I haven't followed it yet, but I thought I would let you guys know. I have been doing pretty well -- some really good shorts this week. How is commandotrader? -Thomas