Thanks Neet. We have had some elite trader users sign up for the service. I have not heard anything negative from those users any more
A trading room generally brings in about 30-50K per month, for their creators if not more. And lot of the marketing tactics used, are that they sign up as different users on multiple bulletin boards, touting the trading room. This draws in general interest from novices who shell out 150-300 dollars per month, before their curiosity is satisfied or they lose their trading capital. Lot of the success of the trading room is from marketing, and its not from the calls made in the room. Even if the current users stop subscription there are always new subscribers willing to shell out that to obtain what they think is the edge. Some people subscribe just for social interactions with other traders. But its all marketing that leads to success not the calls. And its run by a team of people, using false names and such spamming multiple boards. I read one that said something to the effect, 'did you know so and so made so much money that this broker closed down accounts of those people who took that call'. Its pretty easy to see through such tactics. Kinda turns my stomach when I see something like that. But a fool and his money are soon parted, and its truely Darwinian out there so, I guess it shouldn't matter.
Spectre2007, It seems you may have been a member of a few trading rooms throughout your newbie days? Your very blunt and honest and thats great. Send me a private message and I will get you a login to the site. You can check things out and attach your findings to this post. You have over 300 posts here on ET. I'm sure a review from you would hold more clout. Our goals with the trading room are to help new traders blossom without blowing out their accounts as well as running a successfully business. Please dig deeper. CajunSniper / Puretick.com Administrator-Trader p.s. Poor bears
I wasn't a member, but I was asked to be a signal caller in one room, and was offered around 30K per month to do so. I didn't take the offer. But a lot of people approached me also to caution me from making calls in the room as signal generator. I don't need the headaches, and possible litigation it exposes the signal originator to. I'm sure your trying to run a honest business. I'm just trying to point out what I have seen in the past.
There is absolutely no way that someone would open a room if they had such a great system that it made them money everyday. Pure and simple (no pun intended).
I've asked a few guru's the same question (including famous authors) Here are a few reasons: -Extra income stream on top of their trading is nothing to turn down -The desire to share a profitable method and have traders thank them -Good feelings you get when being worshiped for your skills Why do good men feel the need to write books? Is every author a crook? There's no way to know for sure but I have definitely learned a lot of useful things in the books I've read. CajunSniper / Puretick.com Administrator-Trader
I think it would be interesting to have a couple of the senior traders here sign up for the services of puretick and then report "the truth". I for one, am skeptical but that is my nature. There are however, legions of new wannabe traders (for lack of a better word) that are eager to find a shortcut, an easy way in a Holy Grail and if this room is a scam, it would be nice if those who have had a trade or two under the belt, could shatter the dream or verify the miracle. So who is up to the challenge?????
i believe this service is for stock indices. most probably they are offering recommendations to trade the YM. i am pretty sure they're doing OK as the YM is trending up with minor retracements. actually any rookie trading YM is doing superbly well as long the YM continues the trend. it is no brainer. sort of, just add pos and wait until your PT is reached... if anyone want to check their skills, it only has to do one thing. check out their performance in their short YM signals while the YM is trending up and vice versa. an effective trader is the one that makes money in any environment, while the typical trader only makes money by benefiting from a trend. the later will tend to make the bulk of gains while jumping in the bandwagon while the former is able to understand the market structure and derive strategies that dont have any trending correlation whatsoever.
<i>"actually any rookie trading YM is doing superbly well as long the YM continues the trend. it is no brainer. sort of, just add pos and wait until your PT is reached..."</i> Interesting
I find this kind of funny. Why take anybodies word for anything? Its only a lousy ten bucks to watch this guy trade for several days. It is definitely not a scam. I think he would probably refund the 10 bucks if you thought you were getting ripped off. Once again I have no connection to the room but I feel like defending this guy as I was impressed by him.