Between Millennium-Traders and the Underground Trader? Are their styles the same? Who's better? All opinions welcomed.... Thunderbolt
I thought they were deceptive in that they only post the largest potential profit of the day if you exited at the extreme..... which obviously isn't likely.
It seems to me that from their daily archived calls that with discipline and speed a trader can make a grand a day. What am I missing? Thunderbolt
You're missing the fact that they only post the top exit point for the day.....who's to say you're going to have the discipline to stay in that long?
That makes sense about websites posting the highs of their calls; however, I'm looking at their minute by minute call sheets and I have conservatively played their calls allowing for quick exits when momentum stalls. Some calls a trader would lose or breakeven on while others are nice hits. Let your winners be winners and your losers be losers. Therefore, IMHO, a grand a day looks very possible after commissions and deducting the losers. Thunderbolt
Then if you are left on your own to determine when momentum is done and exit on your own....why do you need to pay them for the service? Shouldn't that same technique that helps you see the momentum stalling also let you know when momo is gaining? Why is the service valuable then?
However, my skill level wouldn't, couldn't allow for so many potential winners in a day(maybe after 20 years in the biz it will). For now, give me the momentum and I'll find the door when it's done. Now, momentum could reestablish itself after I gone, but my profits will be booked and nobody ever went broke taking profits--no matter how small. Anyway, did you make good profits while you were there?
I didn't.... I found that the 1 or 2 full stops they take a day wiped out the profits from the 6 or 7 winners that I had. I had to be honest with myself. Also- their time stamps on the transcripts are off from real-time if I remember correctly.