>johnborton (turok) i see you wrote a testimonial >for alfatrading. care to explain that? were you >paid for that test? I don't follow your question. I have written very little about Alfa. I believe everything I have written (good and bad) can be read in a thread called "Chat Room Reviews" under the "Trading" forum (as Turok). I have never written anything "for alfatrading". In fact, when I wrote what I did about them I had just started with them, was skeptical as hell and stated so clearly in my post. I have since become less skeptical and more convinced (three months will NOT win me over completely) of their value but until wwatson called them a "rip" (something I felt compelled to refute) have not said a word about my success with them (hardly the signature of a shill). I learned of the site from comments on EliteTrader in Sep/Oct of last year, did my DD, paid my money, paper traded them, 100 shared them, 2/3/4/500 shared them and here I am. Was I paid for that test?...not by Alfa (I don't know them, they don't know me), but I have been paid handsomely by following the calls. Let's be clear about one thing...this is not a site (like say Underground Trader, Mtrader, etc) where they can claim a bunch of success while the subscribing traders can't necessarily keep up(been there) . This is a site that they update only once per day and only issue on average less than 2 calls per day. You can input the triggers into IB (or other) before the market opens and never watch it again until the next day. Have I found anything even slightly disturbing? Yes, one thing... Let's say that a stock closes at $49.80. Alfa issues a long trigger for $50.25 for the next day. The stock gaps to $50.75 and climbs from there. For their accounting, Alfa uses their trigger of $50.25 as their accounting entry even though there of course is no way to get it until .50 later (if you decide to chase). I find that accounting method to be misleading (especially since it is not explained). The above happens on less than 10% of their trades so it only has a minor impact on the actually achievable results, however I believe it would be in their best interest to change this because IMO it is a fly in the ointment. JB
john, thanks for the detailed reply, go here... http://www.alfatrading.com/about.htm they are watching you...
john, one other thing, do you enter trade in pre-market if it triggers their entry price, or wait for open? also, i noticed they don't post the stops on their calls until the next day. What happens if the trade tanks on the same day, what stop do you use, when do you get out? thanks.
From your provided link, I now understand your question. I had no idea that my comments from EliteTrader were posted on the Alfa site as a "testimonial". Since they were not taken out of context and were posted with the link to the entire thread I don't mind. If they were to now ask for a "testimonial", I would be more than happy to give them one, but it would include the criticism that I voiced above. It is still just hard for me to believe that the only site that has ever made me decent money is a site where I can manage the trades in 5 minutes per day after hours. Needless to say, I'm happy and impressed. JB PS: Unless asked, I will wait at least another 3 months before mentioning these guys again. Readers of Turok will remember that I absolutely HATE sites and services being pumped on this forum.
Well I have just eaten my hat. You defend the site like it is your own but never mind. I am pleased anyway that you have become much wealthier off your site hahahaha
That was a message to John Wayne I mean John Burton or Turoc or Dave or who ever he decides to be the next time he mentions Alfa trading.:eek:
>john, one other thing, do you enter trade in >pre-market if it triggers their entry price, or >wait for open? You know, initially I though that perhaps they were using premarket pricing as their trigger (see my comments posted on their site and on this forum from months ago). However, if the example were to trade through $50.25 premarket and then return to open at say...$50.10 and then decline, their trade would not trigger and would not appear in their portfolio. From this detective work I've deduced that they don't use premarket as trigger. >also, i noticed they don't post the stops >on their calls until the next day. What >happens if the trade tanks on the same >day, what stop do you use, when do you >get out? This extra risk is thanks to the PDT rules. I'm guessing (but don't know because they don't tell us these things) that when the PDT rules came along they looked at their history and decided that statistically not having a stop on the first day was an acceptable (to them) risk. I looked back at their records pre-pdt rules and saw that they did occasionally take first day stops. I have a friend who system trades a successful end of day system where he NEVER gets out intra day (all trades are done on the open), so I know that it can work. I personally place a 10% stop on the first day just to protect against that awful occurance (my account is more than 25K so it's not a problem for me). JB
wwatson came to this board pumping stockswap.com over and over, pretending he didn't know about it, and then saying he was registered. He was busted bigtime by the good folks of this board. So now he seems to find it objectionable to just the mention of any website. He's just a poor soul minus a life, waiting to start trouble with anyone on this board. I'll show ya: Hey wwatson, will the sun come up tomorrow?
well how come you pop of after so long and rock changes his name and you all end up under the same thread hyping alfa trading. You are all the same person.