I would say 80% of the people in here are gonna make fun of your post or have so smart ass reply. Most of the clowns in here sling around 500 shares and think they are size. You can contest your CC transaction and hope the person running the website doesn't want to be investigated by your CC company. Or you could chalk it up as a lesson learned. Just think about this, why would someone who has a sure fire way of making money need to sell his ideas? If he is so good all he needs to do is make his money in his stock picks and not have to worry about running a website for money. Either way good luck and never listen to anyone else's picks anyway.
isnt this bestdaytrader crapola affiliated with our newest and most active advertiser SPEEDTRADER? LOL
speedtrader is being advertised in that room right and left,, however the past 3 days people were getting no date,, others 10 sec delays etc....lots of complaints,, IT's just the more i learn the more i realize that YOU ARE ON YOUR OWN in this game,, your your PC your knowledge ,,, They charge a penny plus .004 ECN fees no rebates,,, another scam
You should have read the thread(s) here about BestDayTrader before putting any money up... http://www.elitetrader.com/vb/showthread.php?s=&threadid=32726&perpage=5
It is not hard at all to dispute the payment with the credit card company. You never know if you are going to win or even whether the credit card issuer will do anything but nonetheless, just a letter with a few details to the credit card company is a good place to start. I am a little guy basically, just work for a living and I have disputed a few things with credit card companies, won every time, same for contractors and subcontractors, the judges and people at the credit card companies know that half these people in business are nuts. Regarding training services and rooms, I feel that if you learned one thing about trading that will benefit you in the future you should call it even. Usable knowledge about trading comes at a high price. Why shouldn't it, trading is the career that pays more than Doctor Lawyer Dentist combined. I know people that have degrees in Engineering and could easily master trading in a few years, they won't spend a nickel on software or books!! I am down about $10,000 in a few years of part time study of the markets in books, software, videos, etc. , don't miss it at all because I know I can become profitable at some point soon and never look back, pretty cheap education really. Max
I really apreciate the responce I got from all you. After some arguments with bestdaytrader accounting stuff i was finally refunded the 200$,,,again,,after all the money i spent here and there 200$ is not a big deal,, just a matter of a principal.. I have been to another chat rooms before undergroundtrader and pristine,,,kinda sorta same story,,but this one was the worst one.. By nature I have issues when someone tells me something or if i have to follow someone,, therefore even if osme site makes millions a day,, i would still sneak around trying to do things on my own, however i'm still looking for a decent system that would help me average .50 per day net, i was thinking to cut down my comissions to .005, that way after a penny i would brake even,, and if i try to scalp 100 or so times per day for a few cents here and there should be able to consistently be profitable,, will see what happenes.. What i do is ,,using 3 moving averages determine the trend then brade the flags of that trend,,watch 8 stocks at the same time,, but oh well,,,the problem is,, i don't know a single person,, in person that is who consistently makes money trading,,even went to a few daytrading firms,,, they are all loosing their $$$es, will give it another month or 2 see what happenes,,good thing is i stopped the bleeding and on paper now,, but since i want to do this for living i don't have another job..... Once again, ,thank you all for your time ..
To be fair... When i first started to trade with no previous experience, i was looking for guidance myself. I started with bestdaytrader.com and i think for a beginner this or any other good chat room is fine. I have been with them for about 9 months and paper traded for the first 2 months before risking real capital. I left the room after the 9 months because the room was a bit distracting to my focus and i found myself making progress on my own. I think judging Shay or any other system after only 2 weeks is way out of line. FIRST THE PROS: Their regiment of psychology, proper money management techniques and other aspects has helped me build a solid foundation. I am terrified to think where would i be today if i would not join and listen to the advice i have received there. Tight stops, starting small and building your share size with your account, proper set of mind, etc. where all keys for me. Shay's explanation of support/resistance, volume, momentum where also fundamental and i use many of his teachings until today. If you joined the room for a quick buck and 11pts a day return you must have missed the idea. He searches for movers, points them out to you, its impossible to catch many of them. If you blindly enter at his sppt/reist numbers without proper understanding of the market/stocks, it is only your fault and no one else should be held liable. I have been called a buthead many times there. That is because i was a buthead when i first started. I have learned to take my pride and shove it. Market just loves very intelligent, confident and proud suckers like i once was. Rooms like bestdaytrader are fine for starters who have no idea what they're getting into. If you think that $200 per month is a lot of money than you probably should not be thinking about starting to trade. Build you capital first. I really don't care of peoples opinions of Shay i know he's made a diference for me. THE CONS: -They are charging extra for training materials that explain their system and general trader's psychology. This should be all available to the subscribers at very minimum or no cost at all. -Their marketing is way too aggressive and they should be much more clear about their claims on the site and what real goals should be - there is a lot of bs during dead zone times but i guess its better than be loosing money in a dead market. - finally this one is probably personal. Their system is based on breakouts. I think trading breakouts only is a suicide as most breakouts just simply don't work. - there also was no mention on larger time frames such as daily and no attention to futures also essential IMHO. - There was a lot of broker bashing if it differed from what they've recommended. Completely unfounded. CONCLUSION: MB, you CAN make around 6 trades per day and come out with .5 to 3 pts per day consistently. If you are willing to risk 1 to 2 cents per trade than i think you are in the wrong business. You will get whipped around like a wild monkey (but you already know that). The moment you will start looking at a mkt as a whole, looking at charts as mass psychology indicators, you will start making progress. Look at longer time frames 60 min, 13 and never trade against these. Try to look for sppt/resistance numbers, pivots, fib, etc. BUT mostly price/volume are the keys. If a breakout occurs to upside buy pullbacks when environment is right. When in channels buy sppt/sell resist when conditions are right. Even if you are right only 50-60% of the time, cut your losses short and let the winners ride you can do well. You really don't need MA's although they can sometimes help with finding sppt/resist of a stock. I strongly believe that again price/volume is all that is needed here. Indicators are only like training wheels and personally confuse the hell out of me. Market is much more simple than complex formulas and systems. I partly agree with GetWhatUDeserve about books, etc. Psychology is the key here. Risk/reward, listen to all, absorb, analyze find a style that fits your personality. I think you may be looking for answers all over the place while these are all within your reach. Here is a proven holy grail system: Have 3 monitors. on your right, the indexes, futures. 5 timeframes for each; daily, 60, 13, 3, 1 min. In the center, focus stock setup. LVL2, acct positions, orders, etc. with 7 charts, one for each time frame. Weekly, daily candles, than 60min, 13min, 8 min, small charts bars. 3 min, 1 min larger, focus. Left monitor 3 min with 8 to 12 charts of your basket stocks. Get to know these well. AMZN, YHOO, EBAY ASKJ, QCOM, BRCM, MXIM, XMSR. Last 4 charts for stocks that are hot today. Have briefing.com for general "feel" in the mkt although disregard news as most are worthless. Price/volume tells all. The main holy grail is between your ears harness it, and you will do well. Watch all of this and you will start seeing very interesting patterns emerge. With time you will learn to take advantage of these and how they play with NDX, futures, etc. All of this works well for me when trading nasdaq. At the end, I want to thank Shay for teaching me the fundamentals, specially scaling out/in and the psychology of trading which works wonders for me. Best to all
This is SPAM, IMO. If you recommend stocks like YHOO, EBAY & AMZN to newbies, you are full of it. Those stocks are for pros, contrary to what the unexperienced may think. When Shay aka BestDayTrader was an advertiser here, he was ripped apart and shown to be full of it. It's a scam. MBfromLA: You paid for a lesson, there is no such thing as holy grail of trading. If you want to absorb info and evolve your own trading, you just need to be around some profitable traders that have different strategies. Yes, most prop firm groups just have a bunch of traders churning for them but you have to be selective & do your research.
I am not sure what makes you think that my post was a spam. Is it that i my posts are in 10's and yours in 1000's? To put your theory to rest i will add that if I had to choose my journey again from the start i would have NOT chosen bestdaytrader but rather more transparent service such as undergroundtrader.com or others. I still think it was worth it for me a total newbie back then. You will also notice that i did not write to trade any of the stocks but WATCH them. I don't think that looking only at a stock like BRCM all day every day gives one a good idea about what is going on in the market. I also do think that when ready to trade, AMZN, YHOO and EBAY with great volume and low spread are excellent candidates. It is stocks like RIMM, TASR, GOOG that you want to leave for the pros. Nets and semis usually have a nice volume and you don't have to worry about liquidity. When you have volume you can see the patterns nicely, that is when tech. analisys really shine. I guess you can always trade INTC, CSCO and watch the great 2 cent moves.
this chat room follow the guru sh*t is for LOSERS ONLY. Entirely against the whole ethic of what it takes to be successful. Some people want hope no matter how delusional, Some want to follow, and sometimes it seems that some people even want to be scammed. Chat room and all that is about having the spirit of the sheep or pigeon, a bad karma to be trading from, never mind the delusional methods supposedly used that do not work. U will not learn anything from these chat room clowns. If u have a brain, AVOID.