Half way through the tapes. This is no holy grail system etc. and was not purported to be any kind of a fail proof system. Merely it is educating me on how to execute my trades better. It starts off being a extremely indepth explanation of the various markets, intelligent ECN's vs. static ECN's, MM's, Direct Access Brokers vs non, various order methods such as SOES, Selectnet prefernce vs Broadcast, how to trade more efficiently from a level 2 screen. It goes on to discuss the correlation between market indicators and market awareness, the trading day, how and when to trade weak stocks (shorts) and strong stocks (longs). And more yet to be learned; such as suggestions on development of a disciplined trading plan,trade logs, discussion of different trades such as swing trades, breakouts, shorting, trailing stops, how to spot momentum plays, etc. etc. Certainly this course would probalby of less use for all those that are seasoned, disciplined, and fully knowledgeble, with their own successful strategy in hand. My history with level 2 executions was not always entirely satisfactory because of my own level or lack of knowledge and by picking the wrong broker. Currently, I have reverted back to trading with IAB, but have just this week signed up with a level 2 direct access broker. I needed to learn and to find out about a different way of trading with a Direct Access Broker on level 2 and to be a more efficient trader. I am confident this will happen as a result of the course. This is my first set of posts to this site and I get the sense not everyone who has posted heretofor has been entirely sincere, ie. do I note a sense of skepticism on the part of a few ? Can't say as I blame you, as that describes me--a skeptic. I bid you goodnight and sign out. Thank You.
They're not out hawking unless they are looking for capital. Read Alex Elders' chapter in "Trading for a Living" where he discusses Gurus. They promote one idea and they are like broken clocks. Eventually, they market confirms their methods, but just once. WHen I traded at Andover in 1999-2000, I witnessed traders executions because at the time they used CyberTrader and all Andover executions were broadcast. There were some monster daytraders (15-50K profit a day was not uncommon) who put this guy to shame, but they were trading and not undertaking some silly self promotion. The best guys/gals don't call out to the world to watch them. They do it.
Could you share with us how or what method the traders at Andover used to make that kind of daily profit and what type of investments did they trade in. Any insight would be appreciated. Thanks for sharing.
A handful were incredibly good and had great discipline. There were a few in particular who had an uncanny sense of saturation points in the movement of a stock. THey would sell into a pop and go short, cover and go long,etc. At the time, YHOO,CMGI, QCOM, easily had a 10-20 point daily range and traders took 2-4k in shares at a clip several times a day getting 2-5 or more points a trade. They traded principally in the direction of the trend and entered on pullbacks and sold into pops. There was one guy who was so good - he was like a Mozart - he could squeeze 12 points out of a 8-10 point run, because he would go both ways over the range. He hardly ever got shaken out of a position. Oct 99 to Mar 2000 offered unprecedented opportunities.
There was one guy who was so good - he was like a Mozart - he could squeeze 12 points out of a 8-10 point run, because he would go both ways over the range. that's beautiful man! that is so sweet! a true artist. oh to be that good. :-D
01-28-02 07:44 PM original poster Treykool <<< 01-28-02 07:44 PM original poster Treykool Dunno...something smell fishy. Anyone care to share some of his so called secret strategies. Or is this one of those bloussant / longitude-capsule type hoaxes?>>>>>>>> I took is course, sad to say. He has no secrets that he shared in $1000.00 but promises to really get into it in $5000. course. After you take his course he allows you into a chat room for 30 days. you have to pay $300.00 a month after that. He does not call trades, I sat for two days waiting for his big calls and when I bitched, he then explained he doesn't call trades but comments on whatever you choose to do. Mostly amounting to "be careful it could reverse on you" He does send a focus list for the 30 days, as if anyone needed a focus list of QLGC BRCD BRCM and other techs and NASD 100 stocks. During his one day class that I attended, it pretty much was go with the trend, buy if it's going up, and short if it's going down. The rest was an explanation of Level II which if you were not familiar already with it as some weren't they were lost. Thus at the end the expensive tapes are offered to clear everything up. I believe they were on sale if you bought them then and there for only $3000. It was my first, and last submission to Guru's that charge. Always ready to learn new things. But remember "those that can do, and those that can't, teach."