>You guys could have made the same call by >saying "vrsn looks like it's breaking out, above >40 looks like a long to me" There is still a lot of conversation like that in the T/A room, but the only calls that get tracked come with a bright color background with the words ATTENTION! next to them. Anything else is just chat. JB
>TUROK, What's the "bottom line" on RT....how >many points a day are you consistently pulling >out the market playing their calls? I have not been with them long enough to use the word "consistent" yet. For more detail, you can read my comments that started this thread. JB
Huby, thank you, it perfectly clarifies your thoughts. Two things I have to say on this. First, as Turok noticed, it's really different in day trading room and position/swing trading room. The very nature of longer timeframe leaves plenty of time to define the play in most (if not all) of possible variations of it's development. It would be a shame (IMO) for those running swingtrading room not to go over details. It might be possible or not in faster daytrading environment, and this is exactly the reason why we put setups description for both members and trialers and more detailed course for members. The idea is, to give traders all the scenarios and recipes for reaction in advance, and only define the setup and trigger/stop points, so we would comment deeper if the play allows it or trader would know what to do if events are too fast to comment in time. Example of slowly developing play that allowed full comments, with even some trading philosophy and psychology elements included can be found at http://www.realitytrader.com/video-tr.htm. It's 2-parts video, over 30 minutes long, you can see Level 2 in the right half and comments by me and members in the left part. If I remember correct, we had even time for some humor That was very typical example of the play that was triggered by certain setup and exited by pure tape reading. Second, on your comment about manner of calling "vrsn looks like it's breaking out, above 40 looks like a long to me". I can see what you mean, and you are right, this is how we do it often (not always). Well, we are educational service with emphasis on teaching to think, to see and react. Sometimes we just share our "train of thoughts" not making it firm point to make distinctively "official call". Really, I believe this kind of discussion must have place if you really care about education. I have never been long for rooms that were all about calls and calls only. BTW, that's also a reason why we don't keep performance track(although our TA room does). Stops are easy to account for, but how do you HONESTLY track performance when scalpers take their 25 cents, holders sell half and trail stop, then some of them sell another half and some sell 1/4, and some even take last portion overnight? Best regards, Vadym
Here are their results from the webiste.... Performance since November 5, 2001: During this time we have followed and discussed 82 trades. Of these 43 produced a gain, 39 a loss. This gives us an accuracy rating of 52%. Our point gain for this time is 23; an average of $1.21 per day for this period. This comes out to an average of .28 profit per trade. If they are using stop order to enter the market- you're gonna get at least .10 slippage in and .10 slippage out....meaning you're sticking around for .08 per trade or $6.56 profit for the month......not bad-not good......
this may or may not interest you.. http://www.elitetrader.com/vb/showthread.php?s=&postid=24245&highlight=mtrader#post24245 actually, it would be a service to the industry if someone exposed those clowns over at mt.. read back to the first post on the thread and you will understand.. and yes, feel free to quote.. as for realitytrader, those guys provide an excellent service.. im not a member there anymore because frankly i was spending too much on trading related stuff and i dont need someone to call the setups for me anymore.. but the money i spent as a member there was the best investment ive made as a trader.. as for those who say their calls are not clear.. all i can say is that rt doesnt make "calls" so much as they alert to a setup.. its your responsibility to go through the course on the website and understand the setups before you try to trade them.. but i would say 90% of the time they always called entry price, stop and partial exits.. Vad, welcome to elite.. im looking forward to your book.. when is that thing gonna be out? -qwik
Threei, Example of slowly developing play that allowed full comments, with even some trading philosophy and psychology elements included can be found at http://www.realitytrader.com/video-tr.htm I tried your link above (in both Netscape and Internet Explorer) and got the error msg: "The page cannot be found"
>This comes out to an average of .28 profit per >trade. If they are using stop order to enter the >market- you're gonna get at least .10 slippage >in and .10 slippage out....meaning you're sticking >around for .08 per trade or $6.56 profit for the >month......not bad-not good...... The posted numbers are based on the *actual entries* achieved by Russ and Bo on their calls. Slippage is of course part of that entry so you wouldn't subtract that .20 from the total. Sometimes I can get a slightly better entry then them, sometimes worse, but I average slightly better (I think my scalping honed routing skill make that minor difference). JB
hmmm.. works fine for me by click on the link right in your post... IE 5.50 here. Anyone else is having the problem? Vadym