He doesn't need to trade since he has people paying him $145 or whatever per month for being in his "trading" room. I'm sure he has gotten at least a dozen "marks" from this site already. People just can't help themselves when an arrogant con man appeals to their greed. Phil
Shogun and friends... I am gonna have my pals from SAC look over your records... u should be getting a call from them soon... I am sure they will want to do business with you. I also sent an email to Jack Shwagger to look over some of your logs... he seems interested to do an interview with you for his new book on trading/chatroom mentors. Your results are only pretty good in my book.. %15 avg profit... 90% of the time .. The only other reputable traders that can compete with u are Tokyo Joe and Waxie. When is the book coming out.. I cant wait. Do you guys have any late night commercials or free audio tapes? Let me be the first to congradulate u. You are a Warren Buffet in the making. Chachingo!! --MIKE
Lil, You had lots of help on your other thread when you asked about being a trader with your $200 equity. To give another hint Tradestation (a popular broker) sets a minimum account balance of $30,000 for active traders. But says $50,000 is preferable.
I have been on a number of chatrooms and all are different. From an educational standpoint Linda Bradford R's one was one of the best but one of the worst for calls (while I was there- only a trial)Bestdaytrader is momentum breakout and gives many calls. The calls are bracketed (long and short either side of a potential breakout). So I had a lot of stopouts - for reasonably small losses. Some of the winners I caught were rockets and one of those in a day made up for 5 or 6 losers, so as I said I was profitable. The training videos are good and explain the method clearly. (BTW Shogun I tried to look at them again but my password seems not to be working now). The room probably won't suit everyone but if you like risk and can see the good risk /reward ratio it might be. After learning the method I feel I can use it myself without the room - but Shay is skilled at finding potential setups, a timesaver. The claims of making sooo much I ignore- but if I can be in the black a few dollars at the end of the day that is a good result in my eyes.
Someone offering an advisory service to traders has two sources of credibility: i) they have a good profit record of trading for themselves - the customer can then expect to make money by replicating the advisor's methods ii) they can't personally make a good profit trading, but are good at improving the performance of actual traders (e.g. trading psychologists & other coaches) - the customer expects to make money by benefiting from the coaching If they can't either trade profitably themselves, or make other traders improve their trading, then their services are not really worthwhile IMO. In case i), it is easy to prove credibility - just post account statements, or clear & thorough actual performance records, and get it signed off by an accountant. In case ii), it is a bit more difficult to prove credibility, however one easy way is to post the performance of, say, 10 randomly selected subscribers. If the service is good, then most of them should at least be profitable, and more profitable after being subscribers for some length of time than they were to begin with. If the advisor or his clients DO have good performance, then there is absolutely no reason whatseoever not to post it - it can only help the credibility of the advisory service. So if such performance is not posted, then there is a strong suspicion that the reason for this is it does not exist.
Hey Roberk I wasn't talking to you so stay out of my business. He said he was here to help and answer questions so I asked which I still don't see how that deserves a response from you.