So IB (ect) only auto liquidates when your trade digs into their pocket? If not, then why not? I cannot see why certain stocks are only marginable to a certain degree, if it only hurts the account of the trader without going into the brokers pocket.
Hi I´m a member of the underground trader chatroom for 13 month now. Thats the only way I´m involved in this chat room so my opinions are without bias. 1) "Calls are for experienced traders only!" Thats the old dam newbie thing. taking a call and dont konw what this call is all about. There is a large trader training section to read first. Than pick one or two basket stocks and watch, watch, watch. See how the methods work. After that look at the calls but dont play them. You dont know why this trade is called? How can you be such a stupid person and take this trade. If you use the room in this way you will get smacked for sure. 2) Manage it. This means you have to manage the trade in your own personal style. If you are a scalper take the clip and small stops, if you are more of a 3 min trader you have to use other methods for taking profits and so on. Some people like to pare some not... Another stupid newbie thing: There comes a call, more of a range play and everybody who knows the methodes can see this, taking the call wiht large shares and getting wiggeld out. So stupid. Happens every day... Its so improtant to know: The calls are mainly for education. You get an enty and you get places to pare. If you want. you also can get out with the whole position. YOU have to know where you will take the stop and where you will take profits. Thats such a personal thing. Jay gives you the reasons why he enters the trade and he also gives you the tools to manage the trade in diffrent ways. Jay is a great teacher and is very adapting. If you like to scalp and trade momentum stocks you should have a look at his room. And dont be so conceited to judge the room after 1 week. good trading
I can't imagine what the purpose of giving an entry without also giving an exit. It's like saying the exit is unimportant. This may be true if you get a monster move in your direction right after your entry, but how often does that occur?
hi! The exits are give, before the calls. The exits are included as an important part of the methods. But there are diffrent possabilities to handel such exits. You know the supports and resistnaces, the ranges and overshoot areas. Now its your turn to manage the trade. Take out 2/3 of the position on the next overshoot and let the rest go with a 5pd 3 min moving average trailing stop. Or take out all.... Thats your personal decision and Jay cant manage 3 open trades for all types of traders. The windows of opportuinity are really small sometimes. No time for handholding. For sure often a trade will called and possible exits are called to. But he dont say close position. He points out areas which are good places to pare. You have to manage the rest. good trading
I never understood these so called bad a*** traders that start a site and charge..Underground trader and Pristine our a couple that come to mind...If they are such genious traders they wouldnt need to rip other people off to make a living
does anyone really doubt these guys are trading behind the scenes? c'mon...that's rhetoric for the regs...they're trading and collecting room fees...double your pleasure.
that is making the large assuption they can make money trading. When I started trading I was in a soes room. They subscribed to Pristine and every trader using the pristine picks got crushed. Just like everyone else in the room. But for 3 months I only saw one trader, have one winning day following the pristine entries. Now this confuses me because when you read the site, oliver seems to say things that really make sense. But when I last checked the site he only showed the entry and the high profit mark, he never showed you his exits and their profits. ( If he does now, I would consider subscribing) It is in my mind complete garbage when someone shows entrys and theoretical high profits. A room should be either educational or showing complete trades so you can objectively evaluate the material. Hey look I could make random calls on volitile stocks show theoretical high profit marks and look like a millionaire by the end of the month. Now if I showed you a couple trend lines or a little support I might charge you a few hundred a month. Trading is about exiting and if you can't show profitable exits you are wasting my time and screwing the public. What percentage of the time do you wished you stayed in the trade longer or got out faster.
IF anyone here wants to they can go to Jay's site and see his posts everyday where he calls an entry AND the price he says he exits. As far as ripping anyone off, he doesn't force anyone to subscribe to his site. Believe it or not, he actually posts why he entered the trade and why he exits the trade. He even shows his losses. Who else do you know who does that? By the way I have no affiliation with Undergroundtrader and am not subscribed to his room. At least not yet. But I do tend to follow the way he trades. I have always wondered why every and I mean every website that has to do with trading is knocked on Elitetrader? Is it jealousy that others have rooms and websites or trading firms or what? I don't even think Undergroundtrader advertises?