I saw a thread mentioning longbulltrading.com. Anyone have any experience with this outfit? They mention giving entry and exit prices for daytrades and that immediately gets my suspicions up. Anyone who does any daytrading (or any term trading for that matter) knows better than to try and guess an exit price. You let the stock tell you when it's time to exit, by a reversal in trend or loss of upside/downside momentum.
if they are telling you the entry price, whats so bad about telling the exit price. is one more important than the other? by your same logic, you should just let the stock tell you when to enter as well? site looks interesting tho, i'll probably sign up for a free trial.
If you knew anything about trading, which is obvious you don't, you'd realize that entry prices are based on what's happening NOW, which we know about, and exit prices are based on the FUTURE, which we know nothing about. Or are you one of those who knows where the market will be before it opens?
As I understand it you come to the computer you see 2-3 ticks and you make decision based on those 3 ticks. WOW. I agree with NOW but I think you are little bit dogmatic about it.
Daytrading. How the hell you can forecast an exit price for a daytrade is beyond me. At least on a swingtrade you can use daily charts to predict support and resistance, but intraday it's not as easy. Who knows. They allow a free trial so what the hell. I signed up just to try and figure out what signals they use for entry / exit. Always looking for new ideas.
There are many ways... Russ and I pick exits every day for the stocks in "A Dose Of Reality", which the majority of the time end up as "daytrades". We look at a swing setup, and then pick an obvious test level that is likely to be traded through that day. That becomes our MPO or minimum Profit Objective. If a trader is watching the market, they can use trailing stops or any other managed strategy to exit, but if a trader wants to set stops and ignore the market...then the MPO allows for this to be easily managed without being slave to a TOS. Here are the last two trades... IDPH long triggered at 42.33, with a target of 44.22, which was hit today. BMY long triggered at 23.35, MPO set at 23.99. (notice the HOD??) Both these were setup in the video, and explained with entry/exits in the evening before the market opened & the trade set up. It's all a matter of skill and working the probabilities! Good Luck and Good Trading! -Bo Yoder
I went to their website and thought it was interesting. Very low budget but the returns that are provided appear decent. Anybody subscribe to the site?
Papertraded their picks all this week and some of last week. Lost money each day except two, and made very little on those 2 days. Today the semi stocks are flying (my usual daytraders) and their 6 picks are doing nothing. I cancelled just now - save your 95 bucks and spend the money on developing a trading plan that works for you. The trading plan I developed over time beat longbull's every single day.