I think many "daytraders" are one day wonders, i.e. may last a while but then things change, bubbles burst etc and they are gone, even a very smart and disciplined guy my hero Dennis Richie went bust (with other peoples money) after the commodity markets lost significant trends ! Realistic returns should be in every god damned trading and market touting friggin book or (gasp) seminar !!! risk reward adjusted returns are 20-40% for stocks per annum. period !!! try to get much more you are playing with matches at the Shell station !!!! Even futures funds sometimes can't quite beat the 30-40% mark - if you play with the magic 50k that's minimum wage !!!!
Hey Guys, Anything new to report regarding the chatroom at http://www.millennium-traders.com? Give us an update please! Rock, anyone...what do you think of their track record so far? Are they still kicking butt or what??!!
Yea, well.. If you look at the 2000 model portfolio you'll notice that it's very much in the red. How could such a great trader be down for the year puzzles me...
RockTheLurk - you mentioned DD, is this double duty? or what. Also, don't be shy, expose whom these chatroom daytrading sites are, remember, all of them, yes, all, require exposure, and hence are the upwaters to momemtum trading stocks downstream. So, whom were these 2 awesome sites?
hi, i'm a french guy, and I make a million dollar every year en day trading! sure, you can do the same, simply, pay me a tax every month, only 1000$, and you will receive my spécial letter. Very simple! I'm waiting for your money, don't forget you'll be rich a million $ every year! Sincerely, Lolo
GoodMorningAll... I am STILL around LURKING and doing my DD... FIRST, Just a little HouseCleaning... limitdown...DD = DueDiligence lolo...French?... "I make a million dollar every year en day trading! sure, you can do the same, simply, pay me a tax every month, only 1000$, and you will receive my spécial letter. Very simple! I'm waiting for your money, don't forget you'll be rich a million $ every year! " FunnyJoke!.....Does the year 1945 mean anything to you, LuLu?? How many times do WE, the poor STUPID PEOPLE in The US, have to save your SocialistAsses??? Please go back to making WINE and consuming vast quantities of ESCARGOT.... AuRevoir B.Ronshawn & All Interested... YES!! I am still following : http://www.millennium-traders.com/ http://www.trendfund.com/ Reports: millennium-traders: At first I was pulling the trigger to PROFIT @ .50 on 100 share trades...but I started to get to close to 50/50 P&L trades...SO, what is the cure? Pull the trigger @ .25 on 200 share trades...Now I am on a winning day, EVERYDAY!!! So I like this site BUT only at .25 profit a share. trendfund: I really like Waxie & Tiny....even though they have a BIG MOUTH....BUT when YOU have a BigMouth and can back it up with PMA&ACTION....CaseClosed! Their win/loss ratio has dropped a little but lately WhoHasNot.... So, instead of trying to catch the Top or Bottom for MaxProfits..(nobodyCAN) I am pulling the trigger at 1.00 a share on 100 share trades...if this slides too close I will drop it to .50 a share on 200 share trades... BUT...this is worrisome.. I E~d Waxie this: DearWaxie, I am taking a little time off my Sunday to write you this letter... IN HOPES THAT YOU MIGHT TAKE THE TIME TO REPLY I am NOT currently a member and these are my concerns: PLEASE don't regard this letter as a FLAME ...IT IS NOT...I think that YOU are possibly the BEST TRADER out there ....and I have even defended you on certain message boards when some LOUDMOUTH (jealous) trader starts putting YOU & TheTrendFund down. I know you receive 1000s (or more) of Es a week, but I think this will be of EXTREME IMPORTANCE to YOU, ME and the 1000s x ????? of newbies you are attracting and are sure to attract with the TV appearances and new INFOmercial that will be coming soon. You say the TrendFund currently has about 10,000 paying members and that's GREAT...and when the new TV show and infomercial hits.....40K~60K~100K plus paying members.....what then! Some of the stocks you are currently trading ie. IGEN (172K average shares traded per day), MANH (300K astpd), METHA (500K astpd), DPMI (650K astpd), KOPN (1M astpd), FMKT (1M astpd), PDLI (1.7M astpd) and even ERTS, HGSI, ADI, NUFO and NEWP with between 3.1M - 4M average shares traded per day..... I KNOW YOU KNOW WHERE I AM GOING WITH THIS.... ...Even with only 10,000 members buying only 100 shares, you are talking about 1,000,000 shares....controlling 25% - 100% of the shares traded in a security in one day...HOW WILL THIS WORK? A little story for you (TRUE).... about 40-75 of us daytraders got together and started a live internet site where our HeadTrader would trade and a bell would go off and all of us would buy and sell just about at the same time ...some traded 50 shares and some 1000 shares....some of the stocks we traded had a daily volume 30K - 500K - TheBigOnes.....WELL, the MMs found out who we were and reported us to the SEC and they FORCED us to take the site down or face an SEC lawsuit....we were up for 2 1/2 years...making about 400-600% a year.....MAYBE NOT AS GOOD AS YOU, but respectable for a bunch of jackoffs....They stated we were manipulating the market every time we bought or sold in the stock we picked....we "WERE BUSY" with each of us making about 50 - 100 round trips a day. We shut the site down in MARCH of 2000...up 250%YTD. I have been looking since then, for a site I can follow and YOU MIGHT BE THE ONE.... I think YOU can appreciate my concern.... Respectfully, RockyXxxxxx Tampa, Florida Response: Hi Rocky, Hope you decide to check us out. We do offer a FREE 14 day trial. For 14 days you will get complete access to our site and our chat room. To get started on the trial go to http://www.trendfund.com and click on the big mouth in the red area. Just a quick clarification, we have about that many folks on our FREE email list and those people do not get the emails we send out to our members where Waxie announces the stocks he is trading. The free email list does typically get an email stating how well the trade has gone, and Waxie's thoughts are free for all to see. Take care, Laurie NOT THE ANSWER I WAS LOOKING FOR... I am taking a wait and see attitude to see just what happens to Waxie and The Trendfund....BUT I am still VERY POSITIVE on TheTrendFund & Waxie!!! ....as always, GoodInvesting, Rocky
Thanks for the update. I also contacted trendfund's Waxie with an e-mail that contained the SAME concerns that you had (illiquid stocks). And I received pretty much the same reply from the same person, Laurie. I pointed out to her some specific examples and showed her how if even HALF of their subscribers had traded they would have accounted for more than 100% of the average daily volume. Her reaction? She didn't agree! Guess Laurie skipped basic arithmetic in school. Second, you point out how Waxie/Tiny are loud. I think that's the understatement of the year! Since signing up for their free e-mail service, my Inbox has been inundated with such useless short messages as : "Yeah!! We rock baby!!" "Who's your daddy?" A sign of a great trader is humility. Because the market will hand you your head on a plater sooner or later if you are proud. If anyone wants to see a great example of a professional trader who is also a decent/humble human being with integrity, check out Todd Harrison (head trader for the hedge fund Cramer Berkowitz at realmoney.com) Third, if he is such a great trader why doesn't he audit his records and launch a hedge fund? Theoretically he could make a *lot* more from 20% of returns than his subscriptions. Wouldn't that be simpler for everyone? If you don't want to work at creating your own trading style but just want money, well, hand it over to Waxie's hedge fund and watch him spin gold. But something tells me he would never do this.
Even though I found lolo's joke not particularly funny (but not insulting to anyone, unless I missed something), I see the comments quoted above as a not-so-subtle example of racial slur. Any comments from the moderator? Guido <---- Italian, eating spaghetti and all the rest