Hey, that Waxie is sure making money selling his services.....that infomercial must be a gold mine for him. So he is making money in the market even if he hardly trades. Are you guys all jealous??? This is from the practical part of bobcathy1....Bob.
Waxie needs to heed the lesson of Richard Vu and cash out early. If he lingers too long and people start asking questions, he is in danger of becoming William J. McCorkle.
Quote: There are Drug Dealers that make a ton more money than I, should I be jealous? Most Drug Dealers who stick around don't use the product. Hmm!! There is no honor in stealing people's money via deception. The people that Waxie targets are those who can least likely afford to be swindled from the $300 that the tapes cost. His $17 book was basic at best, and outright goofy with statements like "stocks sometimes run up 100% before earnings are announced!" HUH? when was this written 1999? He published this in 2001. Pure garbage. What other pearls of wisdom does he have in his tapes, "Buy stocks when they go through $100 per share." The bottom line is Waxie is stealing peoples money. I think OJ Simpson would make a much more applicable celebrity host for this show. [/B][/QUOTE] Waxie is not stealing anything. People give him their money willingly. It is a beginner's book. I got two profiatable things from his book (since I am a beginner)....fading the gaps first thing in the morning makes regular money every morning it happens for me. The money I have made from that alone paid 1000 times for the book. And the other is the pschological aspects of trading.
Bobcathy1, you referred to his "fading the gap" technique... hum.. Isn't that same as saying Buy if the mkt gaps down Short if the mkt gaps up Fading the gap = take a shot, you have a 50/50 chance it will go your way.
Not exactly. I use stochastics to confirm the strength of the move. And bollingers. So it is stacked in my favor. Sometimes the pivot is not exactly at the open.