Ahhh yes, Mr Market. Where has he been? He usually "comes a trollin" on the weekends for new members to what he feels is his competing public thread forum to ET. I wonder if he has copied everything he knows, or if there is any original work? Michael B.
Michael: When you think about it, Mr. Market was on to low carb long before Dr. Atkins. In fact, I like to think of Mr. Market as "Atkins in a can". "Bring me your finest meats and cheeses. Bring me all your low carb delicacies for I am chubby and wish to be slim"
"you take the cake" you have me laughing again... Michael B. P.S. Now would you please help me with my system?...You are much smarter than I.
To further elaborate on that - IMO, it really isn't a matter of providing P & L records - it's a matter of simply being able to answer specific questions relating to what is claimed to be P & L records. These "records" (i.e. the "potential" performance(s) posted on the bestdaytrader website) masquerade as P & L records - and appear to be so from a newbie point of view. Most people want them to be true, so they will suspend common sense in order to believe them.
It took me the better part of two hours to read through this thread from start to present. I haven't seen a response like this since our friend TraderBrad came along touting his service. There have been a few "flaming" posts, but most have been reasonable, IMO. Thanks to Balda for taking the time to wade through the BDT logs and correlate the calls with the price action. With regard to the request for a free trial of the BDT service, it has become obvious that this will not be offered. The reason given is that it would take time away from the traders that Shay is working with in the BDT room. This argument does not hold water, as it would be simple to offer a "read-only" trial, as Underground Trader does, where trialers could only observe the calls being made. The only time commitment would be answering questions from trialers, which could be done during lunchtime, or after market-hours. The statement that BDT does not want "tire-kickers" is like a car-dealer saying they don't give test-drives, or a realtor saying you cannot see the inside of a home they are offering. The reality is that anyone who has been around this business for awhile has been burned, many more than once, and is now very skeptical of anyone offering a service like this. There are many other rooms (Underground Trader, Millenium Trader, Mentoring from Main Street, to name a few) who offer trials to their service. The reluctance on the part of BDT to offer a free trial makes it appear they have something to hide. The logs from the day are fine, but do not give an accurate picture of what takes place as the trades unfold. That's like looking at a chart at the end of the day, and marvelling at all the money you coulda/shoulda/woulda made. Trading is done in real-time, and that is what needs to be made available to potnetial customers. As for the accuracy and profitability of the BDT calls, it is simply a matter of marketing. Shay claims to be a coach/teacher, and asks to be judged on his ability to teach traders how to make money. The profit claims are simply to attract potential subscribers to check out their service. I would not put any faith in those claims, as they are not actual trades, and are made with the benefit of hindsight. It seems this thread is at an impasse, as both "sides" have challenged the other to "put up or shut up". The traders have asked for a track record, and BDT has asked the traders to buy a ticket. I must commend BDT for their willingness to at least show up here, and enter the lion's den. However, unless they are willing to let people watch them work in real-time, I'm afraid all but the very new will heed the warning issued on this site so often: "Caveat Emptor". I'm not from Missouri, but you have to "Show Me" before I risk a dime of my money.
Like I said, I'll be the guinea pig and try out their service for 100 bucks. The chat log are interesting enough to me, and I won't necessarily trade their calls all the time, sometimes against them. I think there is value in their calls, IF you know how to take advantage of them. If there is a move, there is an opportunity. If they can't take that offer, then I do not know what they plan to accomplish with any of the real traders on here. Considering the warranted skepticism, it's just common sense for them compromise if they truly believe in the value of their service.
Quote from BDT: Don't think the paying customers would like you in there kicking the tires, Mecro. That thumping sound gets annoying when you're trying to trade.
Watson makes a good point, which was asked and left unanswered earlier in the thread. If this method of trading is as accurate and profitable as BDT claims it is, why share it? There are many firms who would pay big money for someone to produce these kinds of results. Then there would be no administartive hassles or overhead, simply calling the trades for a handsome reward. So how 'bout it guys, why sell your calls instead of trade them?