I welcome the challenge. We also have the proper risk disclosures on our site. If they truly follow all the calls and don't go off on their own, they'll do fine. Im sure you can tell by now, we have confidence in ourselves. Cajun
Famous last words. Well I dont wish you any bad luck because I like the room but I would be a bit more cautious if I were you. You dont need stunts to get clients if youre good.
I'm no marketing expert but I believe even the best product in the world would probably fail if there was no advertising behind it. Reminds me of this little restaurant I drove by every day for 5 years. Never had the inclination to go. One day they put door knob flyers on our door with a coupon for half off our meal. I decided to take advantage of the offer. It's now a place I visit frequently when I'm in the mood for some good seafood. And I always pay full price.
Hi Bearbelly, Since you are so tough on Cajun I hate to agree with you, but honestly some of the things you say are so true when it comes to the need for new traders to be skeptical about all the garbage out there. And it is a trader/advisor/room operator's job to slowly remove that skepticism. Someday I hope to succeed in that. About the lawyers, you give me an idea. On March 25, 2005 my father died at the age of 88. A couple of months before that he was in Home Depot carrying lumber for an "old lady friend" of his. He had a little blood in the urine and went to this NY hospital for a test. After they installed a stent they found they could not stop the bleeding and decided on a Thursday that he needed surgery. I consented over my father's objections because 2 doctors told me he would die without the surgery. When I called the hospital to find out how the surgery went, they told me he had a "miraculous recovery" and they sent him home in a cab, without calling me. After I sent a private nurse to check up on him a few hours later she found him on the floor covered in blood. She called 911. A different hospital called me and told me that they found a lacerated liver and ruptured spleen cause by the faulty insertion of the stent. He needed emergency surgery but was not expected to survive. He did survive, but did not regain consciousness. After 2 months in ICU he died. A couple of lawyers reviewed the case and told me that the case does show a prima facie example of wrongful death but someone at 88 years old would not win too much money in any settlement. I offer an invitation. Maybe a few of these hungry lawyers who could get millions for some newbie suing me because his market fill was worse than mine, could review my father's case before the statute of limitations runs out. They should be able to get Billions for him. As for our room member who did so well on Friday, a tough, choppy, jobs report driven market, my purpose was to use her example of what may be possible by a new trader. I also admit that if I generate some optimism, other traders may join our room. But that points out the duality of my position. On one hand, when I trade, I am ruthless---I want to rip every dime from some newbie who is too slow to figure out what is happening at a given point in time. I want to kill as if I were a fighter pilot. But at the same time, I want the people in my room to eventually sharpen their skills so they can achieve consistency in their trades. True, they may not be easy sources of trading profits for me and the other professional traders, but then my room becomes more popular and I still benefit. Again to some critics who hate marketing, sales, and any kind of creative advertisement, I ask: are they currently taking Mother Teresa's place and feeding the poor and giving away their worldly goods. I will never forget one person who did not approve of aggressive marketing. I asked what he did for a living. He worked in the marketing department for Philip Morris. OK, Joe Camel at least makes children feel happy; so I should be ashamed of myself. Alex L. Wasilewski Co-Founder & Head Trader Trades That Work www.puretick.com 1-877-GOLONG1 (1-877-465-6641)
the larger the size of your acct the better your odds of success. even after u get the drill u still have to overcome an array of problems and issues tied with emotions and impulsive trading. with futs u can make a killing and have months of straight gains, then lose your ass in 1 week; u need to learn how to set breaks when u get cocky and think that the mkt is your personal bitch.
OK If this is an example of what is considered good trading in your room, if you think this type of scalping is really scalable, if you think 13 trades resuling in $100 (give or take based on commissions paid) is good trading, and if you think it's a an example of what should be held up to ET'ers to generate more business for your room, well, I'm going to have to go with Option X. Good luck, Jimmy Jam
<i>"But that points out the duality of my position. On one hand, when I trade, I am ruthless---<b>I want to rip every dime from some newbie who is too slow to figure out what is happening at a given point in time. </b>I want to kill as if I were a fighter pilot. But at the same time, I want the people in my room to eventually sharpen their skills so they can achieve consistency in their trades. True, they may not be easy sources of trading profits for me and the other professional traders, but then my room becomes more popular and I still benefit."</i> Dear Alex, First, my sincere condolences on your father. Mine was mishandled while suffering from an enlarged heart condition. He passed away nearly three years ago at 74, probably too soon. I understand how you feel. I see myself as trading against a nameless, faceless entity as "the market". My profits do not come from newbies, veterans or anyone in particular. It comes from the general populace which creates the single market entity. Fridays usually suck for trading. Three out of four aren't worth bothering with. Last Friday was actually one of the exceptions... rather predictable and orderly. #1: Price action opened on a gap-up into bogus employment data. That report usually gets faded about as often as data gets revised. In other words, almost every month. There were three open gaps in the tape over past five sessions. No way under the sun do all of those gaps hold a market up supported by such swiss cheese. Ain't gonna happen. #2: Confirmed sell signals happened to come at the R1 values for a number of reasons. Shorting there and holding for the ride was a high-odds proposition. Daily pivot points are touched intraday, during the cash session roughly 70% of the time, long term. The previous day was missed, which adds a bit of odds that Friday would see its pivot point touched. Always good to know where & when odds are shifted in our favor. Once the pivot tap was fulfilled, anything goes. The dipster mentality remains alive & well (for now), and a pop from that visual support was probable. Indeed, buy signals at the pivot for a number of reasons worked. #3: Price action failed nearly to the tick at a spot one would figure it would. Another high-odds short signal offered. #4: Price action confirmed a third high-odds sell signal at the pivot, again for a number of reasons. Easy money. Another interesting note: Price action that reverses from either R1 or S1 successfully will seek out the opposite 1-value more than 50% of the time. In other words, the R1 failure = gap close = pivot tap had a greater than 50% chance of visiting S1 sometime before the closing bell. Again, always good to know when odds are in your favor at any moment in time. To end the day, there were buy signals near ES 1414 for those who care to play every minute of the market. Typical, normal price action... this is what normal markets act like. That dead VIX, low volatility crap is gone for awhile, maybe for years. Days like Friday where +20pts ES / +200pts YM are readily available between the bells will grace our charts much more often than not. ** I'm sure you are a very good trader, perhaps even great as noted by others. That said, there is always something more to learn. But knowing enough allows us to take money from newbies and confident veterans with equal ease... or one could say, the collective market as a whole. Best Trading Wishes
My personal experience says that one cannot make a decent living solely from trading unless one is trading size. What is size? No less than 12 contracts per trade in the ES market.
<i>"one cannot make a decent living solely from trading unless one is trading size"...</i> Well, I guess we need to define "decent living" as the constant. Average +2pts ES per day, 250 sessions per year. That includes +40pt profit sessions like Thursday March 2nd and -20pt weeks that may come along someday. Blended average, +2pts ES daily over time. Using this example, +2pts X 250 sessions = 500 ES points profit per trading year. 500pts x $50 = $25,000 per contract. Variables then are commission cost = average profit size per trade. Assuming $25 per contract average size trade with $5 per turn cost, total net profits after commish in this example would be +400pts. 400pts x $50 per = $20,000 per contract net, pre-tax. * Two contracts exceed the average U.S. median income by a solid margin Five contracts are a six-figure income Twelve contracts is a cool quarter-mil. Once a trader can accomplish +2pts ES per day (or better) consistently, position size takes care of itself. PureTick is working on helping new traders survive, tread water and grow up instead of blow up. Here's wishing 100-lot ES positions for everyone's future!