I have been in the Trend Fund room. I have seen how it operates. Actually, Tiny isn't a bad tech analyst but being in the room is like attending a grammar school class and listening to all the kids kissing up to Trend Fund's Teresa and Tiny. There are tons of bad trading calls and the ones that pan out are often after much choking and gulping of foul water. If you following the Yesterdays Plays that they post on the site you would find that the profits claimed are often only if you knew actually where to get out which we all know is not possible on any regular basis. Waxie's Thoughts are probably the only thing worthwhile of all their services but Waxie has been off making some movie and he thanks all the poor saps who pay him $400 a month for letting him realize his dream. Man, If I were running a business like that, I would want my clients to be getting my 100 % attention. They deserve nothing less. $400/month for their chat room and you will lose your port really fast if you are not careful. That's not to mention the $4800/year to be a bent over member. I think that the previous poster who credited Waxie and TrendFund for running his port from 2 or 4K up to 400K was none other than Teresa or possible Waxie himself!
waxie is a freaking idiot! he makes no real trading cachingos, but he can sure front run his clients with the best of them!! so much of wall street is crap and deception, you have to maintain an objective eye and think for yourself. to pay some jerkoff like that to think for you and trading only his calls is just like playing russian roulette, you may get lucky once or twice, but the net result is - you're dead!!! i mean, give me a break- like this schmuck is legit??? he came on ET a while back, people question him, he never replies and is never heard from again......hmmmm......do you think that this guy is full of it and just trying to pimp himself and his lousy services to naive people??? i sure do. as PT Barnum once said "there's a sucker born every minute......" thats what waxie is counting on... don't be suckers, please you'll regret it. a sidenote- i actually had a subscription to this guy's site through my old employer- i thought the guy was an uneducated fool with poor grammar, marginal trading skills and was very arrogant. he always would post his profitable trades, speak like he "ruled the freaking markets" and NEVER mention his losing trades again. i looked at the site for a month before realizing that it was horseshit and a waste of time.
trade555 You said here today: -------------------------------------------------- Originally posted by trade555 "All of you here are talking trash about Waxie when you should be thanking him for sharing his secrets. A trader of Waxies caliber is hard to find and when you find a trader as good as he is you should shut you mouth and open your ears. I started using Waxies system 6 months ago with a 2K account and now that account is worth 400K. That is a lot to be thankful for." And 2 weeks ago on 10-21-2002 you said: "I have a great book that I heard of but I forgot the name of it. It is written by a guy named Waxy. He is one of the greatest traders alive. He can show anyone the right way to trade. There is also Wade Cook I heard he is also well known." -------------------------------------------------- trade555 You didn't even know how to spell the guys name two weeks ago. To which I can only reply, Please don't waste our time with your lies!!! We don't have time for people like you on these boards with your obvious lies! Who do you think you're talking to son? Why lie to us? Did you think we'd be impressed? Go away!!!!!! Get your sh*t together, quit lying, and learn how to really trade and then come back. There are some good traders on these boards. Learn from them!!! Don't speak until then!!! And don't speak until you have something honest and/or knowledgeable to share!!! Also for those that are interested there's a funny post about Waxie by OPTIONAL777 at: http://www.elitetrader.com/vb/showthread.php?s=&threadid=10060&perpage=6&pagenumber=3
This doesn't really relate to Waxie himself but I've gone to the office for Ken Robert's Trading Mentor Program. It was in the San Bernardino County in LA. Middle of Latin Ghetto, in a warehouse next to a crappy factory. The so called mentors were guys who used to trade but busted out, now without the capital to trade and willpower to trade again. Now they are trying to make an honest living by telling customers what they weren't able to do. Reading manuscripts and sympathizing the customer on the other side of the phone. Seeing that actually reminded me of brokers who can't trade telling naive customers a lesson about trading. I hope Waxie isn't like that.
TrendFund has a "Trading the Gaps" feature to the service. Basically, if there is no sector or stock specific news to account for a gap up or gap down and the gap is largely due to futures being up or down large in the morning. Tiny will step in and fade the gap (go the other way) on the most liquid of issues, such as KLAC, MSFT, MXIM, etc.. Sometimes the calls are good for a scalp, sometimes they make a nice whole day hold. Sometimes Tiny gets his own scalp back. You can do the same thing for $20.00 a month. Subscribe to Traderbot.com (I am a subscriber, myself). And I just run a simple scan on the open, that looks for stocks with average daily trading volumes over 1.5 million that have gaps x.x points from yesterdays close and are now trading back above the open (for gap down) or below the open (for gap up). Or just go to Nasdaq.com and put up the PreMarket Heat Map of the Nasdaq 100, (most of them are very liquid and its free, Man) and look for stocks gapping in the direction of the futures but absolutely check for any sector news or stock news to justify the gap. Often times its just the Market Makers bidding up or offering down the market to get advantageous market entry, exit or both. But you must check for news. I have found that it almost never pays to fade gaps when there is stock specific news out.
A buddy of mine uses waxie and I think he's brainwashed. He's been using him for about 6 months now and has lost money every month. For some reason, he can't just quit. All those testimonials got to him I guess.
having received ken robert's booklet numerous times in the mail, i found your reference to him interesting. i was under the impression the ken robert lived and traded on a large ranch in montana or something. purchased by trading profits ofcourse. best, surf
P.T. Barnum said there was a sucker born every minute. Most of these advisory services are nothing but garbage. I have subscribed to several. Investor's Business Daily, QQQ alert services, stock picking services and gurus. I lost money on all of them big time. I have not found a good one. You know how they make money? Selling you the stupid course or service. They stink at trading! No one can tell you what stocks are going to move and when. It is pure guesswork. Learning to trade is a lifelong persuit. I get more out of books and technical classes on trading. That is why I only trade the S&P 500. I can technically follow trends to make money. I use a few simple tools and get up early and get going.
Funny thing is that I went there for an interview. Luckily, I ended up in a prop. firm. I'm sure my life would have changed if I took the job as a trading mentor...
I heard that Waxie made a call on Sycamore Networks SCMR this afternoon. It was announced much earlier in the day, in the chatroom, that there was going to be a small one coming. Waxie was buying all morning to put on a fairly large position while it was trending up all morning and then after the stock had become extremely extended bumping its head on $3.00 resistance, they announce it in the room and later send out an alert. There is no doubt Waxie is front running his clients and then he uses and abuses the same sheep by telling them to buy at $3.00 resistance hoping that they can break it through as he prods them from behind. No doubt, if they could get a breakout underway Waxie would be paring his position down whilst his sheep were buying it from him. The guy has got to have a snake somewhere there in his ancestral background.