Has anyone joined TrendFund.com, or heard anything about it? I am curious about the experience. TIA, Ron
ronb107, It depends on what you are looking for in a chatroom. If you are looking to learn new skills and methods, I suggest you look somewhere else. When I had my 1 week trial, Waxie was not often in the chatroom. When he was, someone asked him how he decides where to put his stops. Waxie's reply was "Buy my video and you'll learn how". If you are looking just get stock picks, then Trendfund may be right for you. I believe a greater number of his calls make money and if used with proper money management, you could make money in his chatroom. http://www.elitetrader.com/vb/showthread.php?threadid=1170
jsmith: Thanks for the feedback. I've read the previous thread; very enlightening. Perhaps I'll try the 2-week trial, which is free. There are other sites that I've found interesting: o TraderAlliance.com (has a live chat/trading room) o TradeCourse.com (great training site) o BigEasyInvesting.com (for stock selection) o DorseyWright.com (PnF charts for support/resistance)
I think one of the best ways to use Trendfund is to ignore the daytrading and pay attention to the longer term picks. I've checked over past recommendations by Waxie, and he certainly has a knack for picking stocks that are getting ready to explode over the next day(s) to week(s). When you do the trial, check over the alert archive. Look for any alert that starts out with a stock symbol. (There are about 20 alerts every day, while there maybe be only a handful of alerts where a specific stock is highlighted as a swing trade.) Check out the performance over the next few days or so. Some are losers, and no, you won't hear about those from Waxie, you'll only hear about the ones that did work out. But I think you'll be impressed by most of those picks. As far as the daytrading goes, I don't know...I mean, if you put in a trigger buy or sell on a bunch of stocks, and if we get a trending day of any kind, you're going to have some good winners. That is, if you didn't get whipsawed out of a position, and if you get out of losers soon enough. But that's a lot easier said than done. I haven't tested their daytrades extensively (it's fairly difficult, without someone telling you exactly when to exit, since entries are only part of the equation). But what I have looked at has been hit or miss. Just like any other site I've looked at. You know, I actually wonder if Waxie is able to cause a move on some of these stocks by himself. He called GILTF a couple of times in the last few weeks, and I know he started a rally the first time because the stock took off just after his recommendation. But he called MRVC about a week ago, and the stock moved steadily the next day about 3 points. This stock trades 2 millions shares a day, and this was a 30%+ move in one day without news. I don't know how many followers Waxie has, but I think it's quite a few, and I wonder if the followers goosed the stock in the morning, and the daytraders jumped on the momentum the rest of the day. Regardless, it would have been a profitable trade.
mjt: Thanks for the info. I will definitely follow the position trades. I'll keep this thread posted on the results.