My two cents on some of these trading chatrooms like Trendfund.com. They have a list of focus stocks with the trigger points to go long or short. But they don't have any sort of stop-loss point. 1. If the buy trigger point gets hit and it goes down. They'll post something like, "out flat or +1/4". 2. If the buy trigger point gets hit and it goes down 3 points before going up 5 points. They'll post something like "up for as much as 2 points". Not if you had any sort of risk management. Someone in the chat room asks WAXIE where he puts his stop-loss. His response was funny. He said to come to one of his seminars or buy the video tapes he was going to sell on the web site. I can call many volatile stocks and trigger points. I bet you I will not call the high for the day so I can then post, you could've made money on all of them. If it goes down, I'll say use your stop-loss and get out even. But if it goes back up 10 points. I'll say swingers would've held on for 10 points. I believe real chatrooms should teach people why the calls are made and where the stop-loss is and why. The only place so far I see that is at http://www.pristine.com.
Man o man, bunch of malarky. Tell you what, dude. I go one on one with ANYONE at Pristine for $1 MILLION and see who wins by at least 100%. Jokers all around. Yeah, right. Our people make money 70% of the time, traders make money 20% of the time overall. You figure it out. Go watch the CNN FN and FOX interviews. We called the market to PERFECTION. Anyone can bash anyone, but the TRUTH is that we ROCK! PERIOD, end of story! Don't fight the TREND,it is your FRIEND! WAXIE http://www.trendfund.com
Waxie: Great to hear from a TV star. lol I hope you frequent this board often, but your probably very busy. I would like to hear trading methods here. Though I don't doubt that your clients make money, I do not want to fall into the lazy man's mode of a follower. Again, stop by once and a while. Jeffrey
Waxie, How come you have time to visit the sites like this but have no time to participate in your own chatroom? Last time I saw you in your chatroom was maybe 2 weeks ago? Thanks
I think its called "Rumor Control", and or "Spinning" as used with politics. More important than anything to some.
Jeffery I trade reversals also. (find stocks down 20% or more) and figure out where support is. These are some of my better trades. I wait for buying.......this type of play actually should have a very close stop. not 3 points..... Picking bottoms can be quite dangerous, if you are wrong if will go against you........ fast. My stop on this type of trade is anywhere from .20 to .4 depending on the spread and how much it has already gone up.
PKJR & Jeffery, NoFlameBUT... PKJR, Before YOU come on any thread with some smartA$$ remark it might help YOU to know all the facts.... Maybe I can help you??? First: Re:Waxie(TrendFund) I don't know the man, I don't trade with TheTrendFund, I am only doing my DD (3-6 months) on the site to find out if I will be using them in the future. I don't think Waxie spends his day reading these threads...and if he did, I KNOW I would NOT be using his site to trade... I was the person who sent him an E~mail to ask him to respond to jsmith's post... Subject: Posts Re:TrendFund Date: Mon, 26 Mar 2001 13:51:03 -0800 From: Rocky <2000rock@XXX.XXXXXX> To: waxie <waxie@trendfund.com> Waxie, I have been talking up your site on a site I am about to link you to and a post came across, that maybe YOU might like to respond to. http://www.elitetrader.com/vb/showthread.php?threadid=874&pagenumber=lastpage If YOU read the previous posts, I am RockTheLurker on this thread . KeepKillingTheMarket, Rocky ----------------------------- I think it speaks VERY WELL for him to first, read my E with the TONS he must get and take the time to respond. Regarding the chat room: I am sure you were aware that Waxie and his wife were expecting a new baby and HE STATED he was taking time off.... Instead of wondering why Waxie was not on the chat board when you were there....maybe you should have been making those trades with TrendFund to line your pockets with PROFIT$...During my DD time, I don't trade with a site I am looking into...but if I had been trading, I would have had 96% profitable trades.... I think WE can agree...ThatAin'tTooBad!!! Jeffery, THINK!!!! If someone said something about YOUR COMPANY, that you thought was not right, I think you would first, like to know about it and second, have a chance to respond.... I HOPE WE AGREE ON THAT... What is important to ALL of US is that WE all... MAKE PROFITS...... .....from our trades ....as always, GoodInvesting, Rocky
Rock: Yes, I was there making profits, and yes I knew that WAXIE had a baby March 15th area. He warned us that he would be taking time off. I was there for a trial only, so was not their last week. Yes, I agree that a follower can make consistant money. I am not a follower, and believe as W.D. GANN, You must be self-reliant. This will be a deterrent to the idea that other traders are smarter, wiser or more intelligent thatn you are. And, so, you look to them for support for trading ideas that may be unprofitable. It is impossible to become a very successful trader if you are thinking other traders are smarter than you are. When you become slf-reliant you also will have the courage to listen to your inner feeling for hints or signs that you are on the right track. You will be taking a cue from the successful trader you are, not listening to someone outside of your inner thoughts. Dependency on the ideas of another trader is slavery by your own consent. It is very degrading for you to be dependent on the trading ideas of another person. One sure sign of dependency is that you will look up to the other trader as superior. I try to keep impartial so that individuals find out for themselves about chat rooms. I didn't say anything negative about either chat room, nor am I going to talk up that I made money because it goes against human nature to become a successful trader. Common sense says that these chat rooms are in business to acquire followers, not teach one how to become the best you can be-a self reliant-trader. In conclusion, I think a chat room can make one feel successful, but at the same time it will hold you back from becoming your best. I feel that I will eventually have the skills to start a successful chat room, but will I? I don't think so. Should I, it would be as a non-profit organization providing successful calls for free. Why? For three reasons: First, Being successful, it will not be about money, or getting more money, and I don't want to be famous - my personality is on the loner side. Second, I would like to help others. Third, out of my distaste for overpriced B.S sales of information out there. (This is in general; not grouping WAXIE's site in this catagory-From my experience Trendfund is up and up for followers) And by the way, I really like WAXIE persona, in that it motivates me in a competitive way. When someone comes about, and challages anyone with one millions of dollars to go up against him. I look forward to shutting them up someday.
Follow up. Yes, I agree that one needs to defend his company, and I agree that you, as a loyal follower, were right to notify WAXIE. But looking at the post chat rooms were pointing out, stops and entries on these calls, are not mentioned. This is within the introductory page leaving it to the traders skills to handle. I think some may be looking to learn how to handle, or manage a trade. Jeffrey
Jeffery, I have answers for you, but I have to leave to go to court....I HATE LAWYERS....if you are one, I will make an exception.....hehehe ....as always, GoodInvesting, Rocky