I'd like to be able to trade, however I'll admit it I've really just lost money doing it. I went to one of the elite trader sponsers puretick.com and signed up for the week. The guy seems to be quite good, and I actually have made a little bit of money trading 1 contract (YM). Does anyone have any opinion on pure tick? or the guru who runs it? and honestly can you really make $ from a guru?
Puretick is, like any other service like it, a steaming pile of poo. They use ridiculously small targets and enormous stops to give you the illusion that they have a decent win%. stay away from them, or from franz, or from woodie, or any other guru that claims you will make money by paying them a fee.
i see what you are saying about the large stops and the small profit target, 5 pts on the YM is the profit target
If you have done the trial and like them have a go. Try not to listen to too many other people (that prob means me too then!!) trust your own judgement as you seem to want to join them and are on here looking for a reason not which is silly. If this guy can help you starting out do it if you think you can do better on your own do that.
You make a good point. I was just wondering if anyone had any positive experiences with guru's. The whole things a bit cheezy for me, I have to imagine most of the people in the room are truthfully a bunch of sleezbags. You'd probably find these losers attending your local multi-level marketing scam and really be into it. You really can tell this is many ways because these losers get so yippie on the cheesiest garbage the guru says. He was telling people how he bought a private jet. To the normal audience even if he did buy a private jet, he'd better off be lying as this sounds like a crock of $hit, but again these knuckle-heads are getting off so quick his bs
As time goes by you will quickly realize that their risk vs reward requires an accuracy so high, once you account comm and slippage, that in the end you drain your account. Slowly but surely. The slowly part is what makes them stay afloat. It does not look so obvious at the beginning but if you know a little bit about math, it is. As it begins to drain, they blame it on your inexperience, when in reality, it is their own flawed system, if you can call it that. Stay away from them like if it was the plague. Susana
Then how do you explain their daily P/L? They record actual fills and factor in commission. They appear to be steadily collecting cash....what am I missing?
Actual fills, I don't think so. They take advantage of being "elsewhere" to trick you, they scale in and out at their own convenience, then they report the outcome that best suits them. Sometimes the call is so bad, they got no choice but to just accept the beating. I spent there enough to time to call it bullshit and all my friends that where there would attest to this. Susana
Yeah thats pretty embarrassing as the idiots in the room should realize he bought it on there subscriptions and ask for a discount as he is obviousy charging too much. Like i said follow what you think this is an expensive journey which ever way you want to look at it. Just don think you can get a few books from the library a paper trading account then start making cash it rarely happens like that. You might want to look around for another room (No I will not recommend any as i will sound like a shill) actually the Balance trader guy seems from waht I have seen on Ninja to be a good guy. (now I look like a shill) mate just check at few out hopefully you will start to see a pattern but people can spend there life going from room to room looking for the holy grail when all you need is a few decent setups and discipline.
Problem is for new traders it takes time to see the setups in real time you can always see them after the fact