Have you tried these services?

Discussion in 'Educational Resources' started by comp652, May 17, 2006.

  1. Gantra

    Gantra

    Update on my experience with Swingtrades.com after having traded with them for 2 months:

    The trades they execute are hypothetical and i personally had trouble duplicating the performance because of the effects of slippage. Some people in the trade room did better than i did and i do feel Swingtrades' approach of daily pivots is reasonable with some modification.

    My biggest issue with their system is that the percentage profit to loss ratio is backwards. Instead of a trade having the potential to make 1, 2 or 3 times the potential loss, it's the reverse. The profit is capped at 1% and the loss depending on the chart is often 1.5% to 2.5%. I've frequently experienced slippage that makes this loss even worse. If you have 2 winners and 1 loser, that one loser, if it is over 2%, means you have a losing day. That's just not going to work very well in the long run for me and my emotional temperament. The loss needs to be cut to at least 1 to 1 in my mind. Even then slippage will make it larger.

    I do feel the trading room is helpful, as you get to learn their system and how the people in the trade room implement it, but Swingtrades hypothetical results are extremely difficult to achieve if you are working with much capital. If you are going to trade with them, you'll have to find a way of compensating for real world conditions like slippage on entry and exit, bad fills (whether to use limit orders), and where to place your stops. I know alot of the above is obvious, but i'm just learning to trade so this was something i had to learn and something that will potentially dramatically alter your results compared to the hypothetical trade room results.

    Hope this helps and good luck!
     
    #11     Nov 8, 2006