That's what I meant. Alex might fly his toy airplane into the side of a IRS building and break a window.
Even if you give Alex the benefit of the doubt, and say he is trading for real it doesn't address my earlier point. By the time you get filled 3-4 seconds after him ( he has to call out trade hit buzzer, etc ) your entry is propelling his win. No matter what it sucks plain and simple. To make matters worse you always get filled on the losers so it's a double whammy.
Update from my post on 3-01-10. I'm currently in my 4th week trying out the puretick service. The admin (Jeff) was nice enough to give me an extended trial due to some unforeseen circumstances. There are generally 75-100 people connected depending on the time of the day. The calls are obvious (bold text, loud noise). The alert is somewhat annoying and causes my dogs to panic. The education, advice and trades are pretty solid. I'm up over $1850 on the month right not using a sim trader and taking every alert except for a few that I've missed here and there. Basic strategies, no holy grail, you still need to pay attention and work hard. This week he has a student over that paid $12,000.00 to sit beside Alex and trade. The student got on the microphone a few times and seemed happy and impressed with the trading. I'd like to get his name and ask him some questions on Alex's setup when he returns from his experience. I will try. MN
When I was in the room, he did a mentorship with three people, I remember two names, Alexander and Carlos. They all did go broke eventually. His system is flawed in that he teaches to add contracts as the price goes against you. The best trades that work immediately will always be smaller size than the big losers. This statement proved to be true when he did that in the profitnavigation account. For a $37500 account, his wins were $15-$35 and his losses were over $100. So mathematically he would need to have near a 100% win rate to make money. That is why our account was closed after a few months. I did ask Al Green if he verified Alex's ability to make money by looking at his trading statements and Al said no. Around July or August 2009, Al said that Alex would trade more like his calls in the room. That did not show much improvement either. My main beef with him is that if someone asked what was his entry price on a call, he went nuts yelling. Then if he did answer, it was the story of how big someones account was and if they would scale in to the trade. I wrote one time that I would be happy if he just announced the price that he was going to use on his track record. He would not do that. Over everything, that blew my mind. Why can't he announce the track record entry price in real time? Answer: Because that takes out the fudge factor. I actually liked his sense of humor, his stories, and his explanations on where the panic would be. He was excellent with calling trades in real time using the tape. Yes, he actually would walk us through a scalp using the tape and would work perfectly. That is why I thought he could have announced his trade entry price in real time as well.
Thanks MyNickel for your sharing your positive experience with us. I will sign up too for a free trial and hopefully also get it extended for free like you. It seems i should also request to sit with Alex for his hands on tutoring. If some one is prepared to pay $12K, it must be good. Thanks again