I would like to add a thought here. Brandonf and and aiki and one other guy in the room seemed to provide very good looking setups. One of the guys actually looked like he was making very good trades. Brandon was also good for overall market feel. However, it is very hard to accurately pin down the trades Bandon and Toni have officially called. Brandonf would put in a trade like UPS above 64.46. Then if it trades 64.47 for a few hundred which would have triggered a trade especially a buystop. But it or the market quickly rolls over, you will occasionally see a member ask what are we doing with UPS and more times than I liked I would see b or t say well it triggered but it didn't look good on my tape read so I am not in. Then they will give a reference to their site which says to the effect you have to give our calls and exits a little slush room based on market factors. So I found this quite annoying. Especially when there were a few shares within the slush area and the stock is up 40 cents and Brandon says lets take off partials. Overall I think you could make money with the setups(they are intelligent and well thought out) but your performance and Brandon's theoretical performance will vary quite dramatically.
From my perspective the 20 cents is all well and good. I don't think that anyone likes to give back a profit - but at the same time you have to treat an open positon not as money in the bank, and you have to give some room to develop for you. I got disconnected from ET and could not get back in, but in my chatroom when it went up the 20 cents I did bring stops to breakeven, but given that it was a 30 cent risk, taking a 20 cent profit did not seem like the best course of action to me. Brandon
absolutly, thats another reason that we do not post a track record. If you go on the web and look at the track records of various chatrooms etc I think you would be doing well to get 1/3 to 2/3 of the published results. We would be no different, and I dont feel like misleading people with it. Brandon
Brandon, Everytime I have traded QLGC without exception I have been pulvirised, so I do not speak with expertise. However, IMHO, once the stock went .20 your way, I would have done more than bring in the S/L to B/E, I would have done that as soon as it went a dime my way. But when it goes twenty, I do not think I would have let the stock trade below .65 without taking half off. That would have at lest captured the dime. I do not quite understand why you got in where you did, but it was clearly a good entry point. What I have found is that when a stock takes off like that at a point, I will almost always want it there again if it is very close in time to when I took the trade. The reasons are clear, formations will form on the chart giving it support at that point, at least psychologically. In other words, I would think that I would get a chance to buy it again at .55 and maybe take another .20. Now the TOTAL gain is not considerably less than your original goal of .45, just split amongst two trades. Again, I have tried to trade QLGC and get pulvirized everytime, so I clearly do not undertand the stock. nitro
Here is something from the info we sent out as soon as someone signs up for a trial. NOTE: For a stock to setup, let it break by several cents and several lots. If it only breaks by 1-2 small lots it does not show any real conviction. The more volatile the stock and the more expensive the stock, the more it should break to show conviction. For more information, please click here. Also a link to a class http://tfms.webhost4life.com/DB/Members/ClassesDetail.aspx?ClassID=17
This comes up in the ET room all the time as well. IMHO, the way to solve it is to say, filled on 300 QLGC, or whatever you were filled on, or no fill QLGC, etc. It is a little more work, but it contains more intregity. In fact, not giving the size of the order on an equity position is at best not giving the whole equation because of liquidity issues, so I always try to give the size as well as the entry price. Of course, all this would be academic if statements were posted. nitro
A lot of the uptrending stocks are looking pretty nice. Here is a link from Tradingscans.com which shows all uptrending stocks in the market. http://home.cfl.rr.com/tradingscans/uptrending_all_for_72303_scrolldown.html
yeppers, all good examples of why finding a good trade is only 20% of trading. I finally gave up thinking that THAT was nearly 100% of the issue in trading. and yet we seem to spend 90% of our time reading & looking for the setup that will make us money. The insight I got by being in the room was not just the trade setup called but the insight I got and the guidelines in position sizing taking partials specific targets types of trades, scalps, daytrade, swings General Market action time of day consideration Homework trading plan The mental game to trading these are awarenesses i didnt have on my own or by the huge library i have on trading. Yes, the authors eluded to it and generalized about it. A year of Farley's service, nightly has beat around the bush on these issues but has never given one specific example in any of the general setups he writes about. He never puts himself on the line, but says these issues are for each trader to decide on his own. How sad , for a newbie to be guessing with his account on such trades. I feel for these newbies asking for help and getting generalizations. Seeking without finding. but to walk through actual trades and see the variety in trade management and chose one in the room to follow is such a wonderful insight To have someone, discuss the specifics of your tradin plan as it relates to your trading style and what might be reasonable goals. Hats off to B. It has been said, that if a system works, no amount of money would be too much and if it doesnt, no amount of discount would make it worth it. there are four moderators in the room making calls. and the other two, Aiki and Ivica, are prior students of T and B. from personal interviews with both of them, I know they were not profitable for their first year in the room and the second year was mostly breakeven. Yet, to see both of these men in action is admirable. Each has his own style and very self reliant in their trading. And you betcha, they wouldnt touch some of the calls that Brandon makes in the room. So what? They trade their style and this is exactly what is encouraged in the room. Brandon has mentioned that in the room many times. Own it and make it your own trade. but here are some specifics that may help So, I know it is a process, that has a big price. You pay the tuition to gain the intuition in your trading. When i came into the room and talked to Toni about how long it would be until I could 'expect' profitaiblity. She said a minimum of six months and a full year in the room is typical. That was a pretty darn honest expectation. during the past six months, I have done a ton of work and had a truckload of habits to overcome , in spite of my library and past efforts for two years with three other teachers. She was right, there are no shortcuts. Ivica, supports himself by trading and I enjoy a close friendship with him. But what an eye opener to realize that I can trade next to him on the same calls and yet, at the end of the day, I am a little ahead or even behind and he has had a great day. the difference? Experience in handling trade management. That is called CONFIDENCE. Do follow your plan, do you honor your stop. do you jump your stop. do you exit to early on profits? so, because your mentor doesnt give you the confidence to handle the trade, is no reason to shoot the mentor. Far more of a need to look at the man in the mirror, which is much more difficult. It is so easy to complain about the who is teaching and how it is taught rather than what I must do to learn the lesson so i dont hold my mentor responsbible for my trading. an unreasonable expectation. That is why i find it so hard to see people throwing rocks at good teachers, seems like they have unreasonable expectations of their mentor-to-be, whoever that might ultimately be. I know, I would not want to accept the responsibility to help someone else become profitable. I no longer encourage friends who inquire about trading. I have a clue of what the price is to become profitable. And only I can pay that price. so understanding this as an evolving process, I allow that process to simply happen by doing my part and realizing that the rest will follow in time if I dont blow my account out before that learning curve begins to benefit me. This I do know, I wouldnt want to try to do this kind of growth alone. I tried for over a year, using only emails at end of day to authors of two swing trade books, and it wasnt enough. After full time trading for a year, I was down significantly. 20% That blood letting finally came to a halt and now I am rebuilding to my original value in my account. I am sure each of us has had a similar experience. Certainly each of the moderators in the room has. So, I am in good company and they know what I am up against and the encouragement is genuine I needed to have real life trades and the opportunity to discuss it from start to finish. and try again. That is what makes this room so unique and so supportive to my personal growth in trading. After six months, I have run outta questions, now it is down to developing the skills. What else has made the difference? Trade less and trade better setups and not just any setups. All the elements for profitable trading are shared every day and if that is not the experience you are seeking, fine, move on to another trading room where you can connect. but I am convinced, that none of the good traders did not make it alone. They had help and I need help too. Is Brandon a bit of a prima donna? you bet!! How do I know? he has said so in the room more than once. He knows he is bit pushy and even onery at times, yet, his honest admission of his own quirks is accepted in the room and others look beyond these things and get on with the bidness of learning how to trade. Dont let your ego get involved becasue a guy can trade, knows his bidness and then tells others he can. Set it aside and go to work. Or, go find someone, someone that can help and doesnt clash with your ego. Too much time is spent throwing rocks rather than looking at the Issue. which is, what do I need to do to be profitable consistently and How do I move to consistent, low risk trading and what are the principles involved to successful trading. Asking the right question is half the battle. Making the audited statement the issue is not it. but you can and remain where you are today, and be there tomorrow. by the way, none of the other three mentors , I worked with offered such audited statments. and I dont think any of them do. It just is not a requirement to being a good mentor. The mind is a funny thing, if we are looking for an excuse to not do something, we might as well use any excuse. because one excuse is as good as the rest So just say, I dont want to because we are having fried chicken for dinner tonight. Doesnt have anything to do with the issue but it is still a good excuse. Just a thought Woodman