I learned how to trade in a chat room several years ago. I must have stumbled on the right one because it was so different than any others I have seen since. There were about 100 people in there most of the time. The operators called an entry, a stop and a target at the same time. Then they spent about an HOUR explaining the setup and the reasons for taking it, showing screenshots of other charts from the past of the same play, how they sometimes worked, how they sometimes stopped. Then they launched into risk and money management strategies and how that is the key to trading. They recommended specific books (Connors, Schwager, Lefevre, [Farley and Oz did not exist at the time, but I am sure they would have been recommended], etc.) so you could learn more. During most lunch times and twice a week after hours, they held classes online where people could ask questions and learn even more. I'd say it was 85% educational, 15% stock calls. I left the chat room after a year or so and have been on my own ever since (I still hang in a different chat room, but for companionship and camaraderie, not stock calls or education ... it gets lonely sitting here every day by myself.) All I can say is that someone up there must have been watching out for me, or I could have easily ended up at Waxie-type site or some of the other sites that appear to be there solely for generating income for the operators. I thank my lucky stars every day that I joined the one I did. My point is that you can't lump them all together. There are a few diamonds among the coal lumps. I know of two out there that operate exactly like this right now. Dave PS. Don't e-mail me asking which ones. I am not in the business of marketing them. If you really want to know, look long and hard, ask good traders if there are any chat rooms out there that they respect, you may see the same two sites pop up repeatedly amongst the crowd of names you will get. Then separate the wheat from the chaff. If you really want to know, you will find them.
here are some insightful words of Waxie wisdom...... AND, not only do we make on the short side!!! Our LONGS are rockin' as well!!! We called GOLD and we hit GOLD!!! DROOY up, NEM up sweetly!!! GOLD UP!!! COme on, be serious, NO ONE does what we do! NO ONE is even CLOSE! If you are not a member, then you are fooling yourself! STOP THE INSANITY!!! JOIN NOW and get on the WINNING TEAM! www.arrogant.com WAXIE This guy is great- he always seems to be right and RULE THE FREAKING MARKETS- KACHINGO!! WOWSA!! WHO'S YOUR DADDY! WE ARE ROCKIN!!! The above quote came from an email i got with the title "I made $150,000 (and more) today- How much did you make??" Yeah, right buddy- you made that trading? or in suckering people in to your self-promoting ranting site? There has never been a day where this guy was like..."well, today wasn't that great, my calls sucked and i lost some cash- just made some mistakes" - NEVER- because he RULES THE FREAKIN MARKETS EVERYDAY
There is so much to learn around here - but none of it in threads like this. Too bad that the threads that answer your questions die on the vine, but crap like this live on and on.
1. Waxie has no creditability amongst the commentators who replied and shared their thoughts 2. In these very difficult market conditions, those who have remained in "the game" find the claims by a person/persons like this waxie, to be, mildly, credulous. See the comments from Dattrader, who simply posted their email, which obviously was an invitation to part with $400 monthly, just to hear similar comments like those 3. You and others can read these comments and now judge from a more critical viewpoint, that "HYPE" is just what it is, hype. 4. Should you have/are a subscriber to Waxie, then, knowing how others view their service might not be so flattering, however, having another viewpoint is always beneficial. Imagine that just using Stochastics worked, and then meeting/attending a presentation from a vastly more successful trader, someone who uses EMA's over Stoc's. Wouldn't it then seem that worth knowing? Similarly, knowing that wasting one's monies upon these irrestible services would be just that a waste, worth something? Then perhaps comments that don't add are crap, instead of comments that don't add.
I just signed up for the 2 week free trial at trendfund to peek behind the curtain a bit. Actually it's a pretty nice website with detailed entry/exit recommendations (assuming you are fluent in traderspeak, which I'm struggling with a bit). Since I'm a newbie (as if that wasn't obvious -- why else would I be checking this guy out??) I was hoping some of the members here would check it out and post their findings. The trial membership offer expires midnight tomorrow (Tues, May 21). The URL is: https://www.trendfund.com/signup/specialtrial.php I sweartagod i'm not a shill for this guy.
"waxie claims to have 1600 paying members.at 400 a pop you do the math.who needs to trade". that seems like complete BS to me- that means that he is clearing more than half a million a month (640K) and over 7 million (7.68) a year just off of his trading website- i think that i remember reading somewhere that his total worth is 6-7 million...so, i don't know what to make of that claim... does his website and his calls justify him making this much money- hell no!!! Also, in theory if he had 1600 members who all followed his buy/sell signals then wouldn't we see pronounced volatility in some of the thinner stocks that he covers around his entry/ exit points?? In the brief time I used his site, I never saw a rush of people looking to get in at that special- you-can-never-lose-with-me waxie price. well, whatever, guess its not important.... I followed him for like a month on the recommendation of a very successful trader friend and wasn't too impressed- yeah he makes some good calls and some bad ones...he overhypes the good ones and the bad ones, well, you never hear about them again. I thought it was annoying how this guy thinks that he is the trading god and is ALWAYS right- he used phrases like "we rule the freaking markets" "who is your daddy?" "ka-chingo" "no one else even comes close" etc, etc....... he is definitely very full of himself- he thinks that he is so smart and everyone else is an idiot- especially anyone on the institutional/ brokerage side of trading. eventually i got sick of this guy and the crap he spews and decided to go back to doing what I do best- thinking for myself....but some people seem to make money off him- some don't- if you follow him- don't do it blindly- do your own diligence first and know the underlying reasons WHY you are getting in the trade.
Followed his call for a couple of weeks. Waxie has more (by far) bad calls than good calls and the stocks he covers are not mayor money makers. The guy is full of himself and the membership to his website is a waste of time and money. I do just fine on my own.
Redunzl, You didn't say what the results were of the two week trial ? Did you trade his calls and make any kachinko's ??