If anyone is using Trendfund for chat, alerts and education, I would like to hear from them. I have sent them e-mail, but don't receive any info back. I'm curious about his calls, education etc.Thanks, genebort@home.com
I am not sure how advanced is your trading and how much knowledge you have. I was a trial member for 2 weeks. Education is very basic: Fibs, ADX.. I sometimes felt like people trading there have never heard names like Fibonacci Retracements, time of day trading, test/retest, etc. Based on 2weeks, I would say education is minimal. You are ENCOURAGED to pay 3k for a trading seminar in California or buy tapes. As to calls - some good some not so good - like trading. Overall, there is no magic bullet. If you new to trading, it may be worth it as you may save you some capital, if you know what you are doing - save $400/mo My opinion is that you should try to master your own trading approach. Rooms will not make you successful trader, but they will make you dependent. "If you give a man a fish, you feed him for a day. If you teach a man to fish, you feed him for a lifetime." My 2c Paul
PKJR I get Waxie's free email alerts. From the sound of it, almost every trade is a big winner. Does he have a bunch of losers that he never comments on? If this is the case, it would seem to me that his regular subscribers would get tired of him bragging all the time when he's not all that great. I mean, if you were in a mediocre chat room, and the guy was constantly bragging about how good he is, wouldn't that cause you to leave? I would. I wouldn't even stay past the trial. Then again, maybe he has a lot of subscriber turnover; who knows? Then again, let's say that he's not nearly as good as he claims. Maybe by constantly reinforcing in people's minds the idea that he's such a guru, they believe it even without trading results. Anyway, that's what I'm trying to reconcile. The idea that maybe he's not such a great trader, and the idea that he constantly is bragging on himself. They just don't seem compatible, for someone who wishes to keep subscribers. Before any Waxie fans jump down my throat, I didn't say Waxie's not a good trader; he may very well be as good as he claims. Just trying to solve a dilemma.
I subsribed to Trendfund for a month to check it out. Waxie really was making a ton of money at the time. He had a $500k day once. I didn't follow any of his trades because they didn't fit my style, but it was fun to watch.
Dustin Was he making all that money because he was heavily short the market, or was he making bucks on daytrades also?
Gene take a look at http://www.traderalliance.com it is free for the moment and I think it is worth to give it a try. best of luck eli
mjt, I think it was a day that he was heavily short the market using options. Not really daytrades...
Tried it for a couple months out of curiosity to see if there was any special value (especially at those prices) or at least if there were some new ideas. Found neither. I agree with a previous poster - if you're looking for education, this isn't the place. Also, trade management is so critical to successful trading, that just making calls is almost irrelevant. Often I would see a call and then the trade could be a winner or a loser depending on how you managed it - but they didn't publish any trade managment info. Also seemed like every call was published only after he'd executed his trade - often at a price you couldn't then match. You'd also find out he had done profit taking or was out of a trade only after he was closed and again often at a price you couldn't touch. The approach seemed to be primarily to toss out a call and then it was the trader's responsibility to figure out when to take profits, how to track stops, when to exit, etc. So basically you're paying $400/month for some trade candidates. Personally, that seemed useless for the less experienced traders who need help with trade management and of little or no value for experienced traders who already have no trouble identifying potential trade candidates. To each their own, but you should consider whether there are more valuable and productive ways to use that cash. For example, for $400/month you could sign up for several different trading services and educational programs and get different slants/approaches to the market. And you won't have to put up with the continual and incredibly annoying "hehe...who's your daddy" crap either. Hey, maybe he's really a great and successful trader and no doubt making tons more than anyone here, but that alone doesn't make for a valuable trading service anymore than winning the Noble Prize for the option pricing model guarantees you're a brilliant hedge fund manager. And my gosh, with all the money this guy's supposedly making, can't he hire someone to teach him English or does he just think he sounds cool doing a bad Ice T impersonation? In the end, it's what works best for you (and what you're willing to put up with).
Try http://www.tradingtheopen.com Trade mgmt is critical, eg where to trail stops, why and when to enter etc.. If he makes 500K/day why does he run a pay chat room? lol Ken
I agree with both of the last posts. Waxie can be extremely annoying, and in the end it's what partially drove me away. As for why he ran a chat room, I honestly think he really enjoys it. Ken, at the time some guy challenged Waxie to prove that he really was making all this money, and if he proved it the guy would give him World Series tix. Waxie provided his daily trade P&L for all of his members and his claims were supported. The guy ended up backing out of the deal.