so, if he leaves the exits up to traders, how does he come up with a daily profit figure? He has to be calculating it based on an entry AND exit. Not to mention that the exit is the most important part of the trade. What trader has not learned that yet? So, if you leave the exits up to your subscribers, you are only providing limited value. Anyone can call entries, and most slick marketers can show those entries to be profitable if they don't have to post exits!
I better leave those answers up to Shay I do think the advertising is overdone. In a trade lasting 2 -6 minutes I wouldn't say the exit is the most important part. To (over)simplify it: this type of scalping is about getting in on a surge of momentum and exiting as that surge starts to die. No one can give a firm exit in advance because no can predict what will happen. Timing the entry has to be the foremost consideration, and someone can give some guidance on this from studying the chart patterns.
And I thought $17,884 per day average was a lot. Chump change in relation to "Eric" in Oregon - who is averaging a stellar $50,000 - $100,000+ per day. A true glutton of the buffet.
they should be able to determine where their "logic" would dictate an exit.. why can they not post a simple log of trades? i have all of my trades in a database with chart pictures marked with entry/exit for review.. what kind of "teaching service" does not teach traders to keep records? -qwik
Best thing to do it TRY the service for a month and if it doesn't work then try something else! Why would someone spend time trashing something they have never used? I'm suprised how many supposedly pro traders have time to post on this thread and others all day. I noticed they use DAS Trader software and that led me to post. I used this software, it was excellent. The main thing it was fast, so if you are even scapling for 2 cents it will work.
I've been reading this thread when I'm out of trades and/or at lunch time. I think you may have assumed incorrectly that the posters criticizing everything are in fact traders. I serously doubt they are. People who trade for a living are focused on what they're doing. And real traders can see through most "hype" from chat room sites that claim astronomical gains.
Seriously, so many people willing to post and bash the guy. Why doesn't someone of you bashers put up the measly $200 and try the room? It's not like that's alot of money a trader can make it in one decent trade easily. Then come in here and say whether it's worth it or not. I can't believe supposedly educated, smart people make such ignorant bashing posts with no real knowledge. Obviously, anyone who has the time to make 10-20 posts a day is not a real trader. I know plenty of "real" day traders including myself and none of them have the time to post all day when they should be watching the market for trading opportunities. There are so many posers in here that just waste time pretending to be usefull or that act like they know how to trade and nobody else does. As I said before, the site's profitability claims aside, most traders who are not successful or new can probably learn something from a mentor type and also definitely by being in a room chatting with 50 or more people (guessing: I don't know how many traders are in their room) who are trading. I don't really care to try the room because I have my own strategy, but come on a little civility and some educated (that means knowing what you're talking about) responses would be nice, but apparently too much to expect.
I dont think that it is bashing to ask someone making wild and irresponsible claims to back those claims up.. all he has to do is post entries and exits.. is that so hard? is that so much to ask? How is it that you, self described as "someone with no real knowledge" can come in here and defend this nonsense? why not pony up 200 dollars and prove that he is legit instead of bashing those asking honest, thoughtful, constructive questions.. Why do you assume (thats ass-ume in shogun speak) that newbies can learn something from someone who makes outrageous claims but refuses to answer simple questions? Wouldnt a more intelligent approach be to verify that someone has something worth learning before jumping in with both feet? -qwik
I don't post 10-20 times per day, and sometimes I am lucky to post once a week. But, to be realistic, posting 10-20 times a day would not preclude someone from being a succesful, full-time trader. Seriously, it probably takes a few minutes to make a post, which would equate to 40 minutes out of a 12-hour day. I spend more time than that in the bathroom! (ok, I am getting older...) The reason for my post, though, is to address what seems to have come up a few times - why don't you just spend the money and try it out. Well, the money is not the real reason - I could live without the $200-$400 dollars, but it would hurt to dedicate a week of full days to seeing if the service and the claims were real. So, the risk is not necessarily in monetary terms, but time. And, someone else made a good point earlier - the $400 will not bankrupt you, but if some newbie signs up for this service going in and thinking they are going to have 90% winners (read the claims), and stupidly puts money into the picks, they could very well lose their shirts. That - to me - is what ET is all about. Helping others - newbies also - avoid scams that are so prevalent in this business. These people prey on those who could not figure it out (which, is most), and lure them in with outrageous claims or promises of the "holy grail". It can be tempting for even the strongest, but when you have fellow ET'ers questioning the scammers it could save some people A LOT of pain. (note - if you don't give a crap about your fellow man, this argument will mean nothing to you) Finally, I did not see much in the way of mindless attacking of "BestDayTrader" in this thread. I saw some good questions, that STILL have not been answered. And, Snoop, you are right about the exits brother.