www.millennium-traders.com

Discussion in 'Trading' started by hkaddah, Nov 24, 2001.

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  1. hkaddah

    hkaddah

  2. YES!!!

    I do, but I take profits @.25 cents and have winning days almost everyday...


    ....as always,


    GoodInvesting, Rocky
     
  3. There's quite a debate raging on the board about systematic vs. discretionary trading. Maybe we need to add a third category: following someone elses calls. Rock apparently makes money by using someone elses calls. Maybe this is a legitmate approach for some.
     
  4. bora

    bora

    No profits at all!
    The site looks good and their past performance even better.They only tell you when to exit a trade when it's a winning trade. If it's a loser they tell you you should place a 3 point (!) stop. Stay away from this room and try to trade on your own. There are no chatrooms that will make you rich. The only thing they want is your money!
     
  5. bora,

    YOU have NO IDEA what you are talking about!

    DO YOU!!! comeON...fessUP!!!!!


    ....as always,


    GoodInvesting, Rocky
     
  6. bora

    bora

    RockTheLurker,
    The fact that you take your profits at .25 says enough. So probably their calls aren't good enough...
    I still think 95% of all the chatrooms out there only want your money. Ok, you are making a profit trading their calls, good for you, but most people will lose money trading their calls.
    Think about it if they really could make huge profits with their trading method why would they want to run a chatroom??
     
  7. bora,

    "The fact that you take your profits at .25 says enough. So probably their calls aren't good
    enough"...

    ComeON bora...making profits of .25 cents a trade does not make a lousy trade..or the pick is not good enough...

    ...take these examples:

    5 winners per day on
    100 shares per trade
    .25x100=$25.00 x 5 = $125.00 x 250DAYS = $31250.00

    250 shares = $62500.00

    500 shares = $125000.00

    1000 shares = 1/4 of a million bucks

    "I still think 95% of all the chatrooms out there only want your money."

    I might agree with you there...and that's the importance of DD, on any site, one plans to use.

    "Ok, you are making a profit trading their calls, good for you, but most people will lose money trading their calls."

    Not on the 5% that are NOT in it "just for the money"!...but one has to make ALL the trades...trade for trade...and NOT pick and choose when the site makes their calls.

    "Think about it if they really could make huge profits with their trading method why would
    they want to run a chatroom??"

    OneWord...

    FAME!!!!!


    ....as always,


    GoodInvesting, Rocky
     
  8. :D :D :D
    my friend told me to buy ARTG... hmmm... I saw the stock on the buying list somewhere on the internet... hmmm... I will buy it. Yes, I think it's a good decision. Yes, very good.
    After 2 days. Oooh yeaah! I made 10 cents on ARTG! I'm a good trader! :D Now, I look at the chatroom. Uhh someone said to short ARTG... ups... what should I do? Friend calls me.
    - Listen! Buy this stock!
    - but on the chatroom...
    - buy it!
    - OK! you know everything. I'll buy it.
    After 3 days... Shit! I've lost half of my money. I will call to my friend and... and...


    -----
    trading is funny!








    :D :D :D :D :p :p
     
  9. Baron

    Baron ET Founder

    Rock,

    Your logic and calculations are full of problems. Here are a few:

    1. So what if you have five winners per day? You don't make any mention of losing trades, and more importantly the impact they have on the winners. At only .25 profit per winning trade, a typical losing trade will almost certainly wipe out at least one or two winners.

    2. You don't make any mention of the costs that must be deducted from all those numbers you put up. eg. commissions, data/software fees, etc.

    3. Your calculations imply that if you want to make more $$, it's simply a matter of increasing your trade size. The problem is that making 25 cents on a 100 shares is a heck of a lot easier to do that making it on 1000 or more.
     
  10. HeyBaron...how ya doin,

    "Your logic and calculations are full of problems. Here are a few:"



    Please allow me some time to try and explain my post to the best of my ability...now, if I were to leave the post as it stands I would have to agree with you....BUT, if you have read any of my previous posts and responses YouKnow that JustWillNotHappen!

    First let me say I have been using different TradingSites since 1998....using MyParameters, each different for each site...1998+456%..1999+411%..2000+310%..2001+YTD298%...after ALL expenses.

    Now, when I find a site that interests me I do my DD for between 3-6 months, checking their returns and making my ProfitParameters(PP). My PP are NOT set in stone and I will trade them at lower points if I want to or the site makes the call.



    "1. So what if you have five winners per day? You don't make any mention of losing trades,and more importantly the impact they have on the winners. At only .25 profit per winning trade, a typical losing trade will almost certainly wipe out at least one or two winners."

    Let me try to explain the way I trade using M/T. The simple example was just that SIMPLE...being the moron that I am, I see many things in Black&White, and find it hard to put into words.
    M/T makes, oh, lets say about 50 round trips per day .... many above my PP and many below my PP,
    but very few at a total loss...about 98% winners is my guess...a winner for me is any trade that triggers at .05 cents plus over my entry...that covers more than ALL my expenses....I GO FURTHER,
    I ONLY COUNT, AS A PERSONAL WINNER, any trade that hits my PP..(.25) everything else is GRAVY....hence the 5 winners in the example.
    I only count any trade that is .30 cents plus and deduct any trade that is below .30...(slippage)


    "2. You don't make any mention of the costs that must be deducted from all those numbers you put up. eg. commissions, data/software fees, etc."

    Above....I think!!!



    "3. Your calculations imply that if you want to make more $$, it's simply a matter of increasing your trade size. The problem is that making 25 cents on a 100 shares is a heck of a lot easier to do that making it on 1000 or more."

    Baron...I have to laugh at that because although I might have the money to make the 1000 share trade, I DON'T HAVE THE BALLS ...so I am at a loss reguarding that.

    I have made 1000 share trades in my long account, but only to average down....they went through pretty easy???

    Oh and BTW...my long account is down, at my last LOOKsee .....<47.8%> from break even.....in 2/00 I was up 116%...NiceHit,Right...I AM A MORON!!!!

    I'll never go LONG again!!!


    ....as always,


    GoodInvesting, Rocky
     
    #10     Nov 26, 2001
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