though i cannot add much to the discussion, I thought I would post they have a 5 day free trial coming up this week, just read about that in my inbox, the KP newsletter ... maybe we'll give them a shot & see what they have... good trading, cosmic
yesterday mike had gr8 calls in the room, at least around 10h18 when he called a 5 pt trade. On the basis of this, lets hear from other who are in the room whether this thread is simply flaming grumpee and mytradesroom or has legitimate concerns.
Everything that I said about the mytradesroom was true at the time that I posted it. In fact, Wayne from Kwikpop even wrote an email that confirmed and supported all of my complaints (see below). Now it looks like they have added a new moderator, Uncle Mike. Since I am no longer a part of the room, I can't comment on his abilities. But, I can say that he was a gunslinger when I was a member of the room, and he was "still trying to LEARN how to trade". It's hard for me to believe that he is now the NEW Guru in only six months. This is the email that was sent to me on 6/4/08. As you will, see, it supports all of my complaints: MY TRADES ROOM Changes This is a follow up to Sunday nights newsletter. Many have asked why we made these changes. When you run a subscription based service on the Internet there is a very basic (obvious) feedback loop that tells you whether or not you are on the right track. When the subscriber base drops dramatically and the number of complaints shoots up dramatically it's fairly obvious that something is desperately wrong. The name of the chat room is MY TRADES ROOM , not MY TRAINING ROOM. Customers signed up to hear trades called out during market hours. They did not sign up to hear a review of trades that occurred 2 hours ago or two days ago. They did not sign up to listen to an on going 3 hour presentation every day of how to trade based on after the fact set ups. They signed up to have a moderator call out a specific trade with no doubt in the listeners mind whether it is a short trade or a long trade. They did not sign up to hear a moderator say, after the fact, did anybody happen to get that buy signal? They signed up to hear a moderator say THIS IS A BUY SIGNAL as it is setting up. Here is a specific example of how the room is supposed to work. Today Uncle Mike called out 4 trades before noon time. 3 winners and 1 loser. Yes, that's right ... there was a loser! This is the real world and there will be losing trades. If you had taken all trades (on your simulator) you would have netted between 4-5 points after subtracting the losing trade. 4 points on 5 es contracts is $1,000.00. And that was all accomplished before 11:45 AM. That's what MY TRADES ROOM is supposed to be all about. The moderators show up on time EVERYDAY like they're supposed to and they call out the trades as they set up in real time. No chatter and training. Just a simple call ..THIS IS A BUY RIGHT HERE or THIS IS A SHORT RIGHT HERE. That is how MY TRADES ROOM will be run from this time onward. Grumpy is working with Uncle Mike coordinating their calls on targeting trades and our entire focus is on making our score every day before noon time. GET IN...GET GREEN...GET GONE. Mike has a different presentation style and he is very specific about the calls so that there is no doubt about whether you should be buying or selling at a certain price range. Lavender is a very nice lady and a terrific teacher. As a moderator to MY TRADES ROOM she signed a contract that was very specific. She was not to sell training courses and indicators to subscribers of MY TRADES ROOM. Unfortunately, over the last 30 days our chat room evolved into a never ending training session and a subtle pitch for subscribers to buy the Lavender training courses and the indicators DT peddles with her. That was never what MY TRADES ROOM was about. We've been extremely lenient, but that was the straw that broke the camels back as far as we're concerned. This is not a used car lot. There is no Bait and Switch in MY TRADES ROOM. It's about integrity and abiding by a contract that was quite specific. Therefore, Lavender is no longer with MY TRADES ROOM. We wish her luck and that concludes this chapter on dealing with people over the Internet. End of subject. Now, from this point forward MY TRADES ROOM will be all about TRADING. The only training offered will be on trade management and trading psychology. The moderators will focus their entire effort on targeting trades pre-open through noon time. The objective is to hit our numbers and be done by lunch time every day. GET IN .. GET GREEN .. GET GONE. The room will remain open all day through the close but our primary focus will be on those first three hours of market activity. Any training sessions will be after the market close and not during market hours. WARNING: The style of this room may not be for everybody as we are going to cater to more experienced traders that have a basic understanding of money management principles and have sufficient operating capital to run their trading business intelligently. While there will be many winning trades ... there will also be LOSING TRADES. If you have less than $3,000.00 in your trading account MY TRADES ROOM will not be a suitable venue for you. If you are just starting out and need help reading a price chart or understanding a momentum indicator MY TRADES ROOM will not be a suitable venue for you. There are many, many seminars, books, on-line training sites etc. out there on the Internet. Go out and do your homework. Practice trading on your own for awhile and learn what trading is really all about. Then, when you are finally ready to trade in ... the real world ... come into MY TRADES ROOM. Regards, WDH
I will also add, that Wayne should be applauded for listening to the complaints, recognizing the problem, and making changes that should hopefully fix the problems.
If anyone is interested, Lavendar is in a free room: www.dtcharts.com. Lav was moderating in the MyTrades room.
Here comes the PR, again lacking the usual logic. There is no flaming in this thread, everything posted is true and factual (for the nitpicky, ok, 90% - 95%). There have been major changes in the mytrades room as reported in this thread. To nullify previous legitimate concerns after some "corporate makeover" is just another stupid PR trick. Previous concerns are legitimate on their own validity and have NOTHING to do with success from this point forward. It's logical to be skeptical given the previous history, and ONE successful called trade does not a consistent pattern of profitability make! A room that does not offer free trials on a regular basis blatantly on their website is suspicious. A service like this that does not offer a money back guarantee (of some sort) is suspicious, unless of course the trial is of a significant length i.e. 30+ days.
There's no point analyzing any of this because all that matters is whether there is value for money. IF these guys can string together successful week after week (yeah of course there might be the odd loser) with every month turning a decent amount of net points that would present decent value. What is worthy to point out is that the above statement targets EVERYONE. You can't open an account with less than $2500 and many places won't let you with less than $5000. So, apparently, there is no one the room is not suited too. What is most interesting is to think about how a newbie would interpret this statement and how an experienced trader would interpret this statement. If the rest of the dots don't connect themselves I doubt I can say much more to help. Given the bravado shown in this email I'm sure we'll see free trials of significant length and money back guarantee's of some decent time period (without more than a short paragraph of fine print that's blatantly, repeatedly communicated) that shows they believe in their claimed historical results / skills.
Read somewhere (not here) that MyTrades was calling out great trades since the makeover. Ok, sounds good to me!! So, why not offer up a money back guarantee? I mean if the trades make money, and they are called in real time, there should *never* be a money back claim (i.e. you put in fine print that you have to actually take the trades that are called and they actually have to lose money for a claim to be successful, which would really cost them nothing since they make money trading and this is just bonus, lol). Just think about it. Think about the lost business opportunities in not doing so. Right. So what do these people have to hide? There are quite a few guru's / vendors out there that promise all kinds of returns, if that's all you have is promises, then join the rest of the pack. When you want to be different, go ahead and be different with something other than "i promise to be your best friend" and for adults "i promise to be make you money." (Again, for the record, I will retract all of these statements / suspicions with just a little proof, so far ZERO has been offered, let alone tested by individuals, let alone a consensus formed that month after month valuable calls are presented)
Mate while most vendors er to the shifty side too many people want iron clad guaranntees that they will not lose money which in this game is a joke and tells me that person is in the wrong business. What next the vendor has to reimburse you if your internet goes down or if you miss a trade while in the can? This business invloves a certain amount of risk end of story and that risk comes in many forms. The best way to check out the veracity of claims is to simply try it for the shortest possible time you think is necessary sure it will cost you a little cash but that is part of your process and you may learn something that makes it worthwhile in the long run. Most people here would rather bitch from the sidelines than actually get involved which is pathetic get your arses back to flipping burgers or working as accountants then.