Rock, Your approach to chat room trading is reasonable. And your returns over the past few years are outstanding (you have reduced chat room trading to a science I do have one question though....you say: "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)" How can you have "very few at a total loss....about 98% winners" if "many [go] below [your] PP"? You're playing with only 25c range. Also, what's the distinction b/w a "personal winner" and a [blank] winner??? Nice returns. WTG! FIREHAWK
98% winners huh? Let me think for half a millisecond... Are you the person behind www.millennium-traders.com, and do you buy the stocks just before you recommend them, then jump out with a 25c win when everyone else is piling in? I'm a cynic.
G_Morgan, You don't understand what Rock considers a Winner! If MT calls a trade and it trades anytime in the day 25 cents above the call, it's considered a Winner! It doesn't matter if it drops 2 points before rallying up 2.25. There is no stop! It's a Winner! So the only way to call a losing trade is to call the trade within 24 cents of the high.
Actually they run with 1 point stops. But rock implies he's running with tighter stops. Let's wait for his clarification before we leap to the wrong conclusions.
Even then 98% is pretty high. 8-1 is still less than 90% by luck. that means he is shooting over 80% by skill.
FIREHAWK....burnedbird...sorry ...I had to say it....hehehe G MORGAN....20~Canada~and I hear Clinton is looking for interns>>>(bringBIGcubans)...& "I'm a cynic." ....NuffSAID...only kidding with YOU G. Sanjuro...thanks, I think? Friends, I told YOU, I am a moron and can't explain things very well...PLEASE LET ME TRY one more time and if you still can't understand ....you will have to E me so we can talk by phone after market hours.. OK...here goes--->>> ClickTheLink: http://www.millennium-traders.com/performance.htm Do you see the names Lightning&Thunder = L or T? Do you see the numbers under their names? Do you see the dates? AnyQuestionsSoFar??? Add both numbers together... Do you see any minus signs after the numbers? GOOD!!!!...that means NO LOSS THAT DAY.. Scroll down, TheSite, to find previous months preformance.. ...as an example let's take 11/27 ..yesterday When you add L&T ...you see, together, they made 17.57 points...all wins ~ no loss... Right??? ....well, THEY DID HAVE 2 trades at a loss ...1 for 1.00 loss and 1 for a .35 cent loss and that is taken into consideration, below in NetProfits. Let me give you MY total for 11/27.... TrustMeOnThis!...if you want to?...they made 46 round trips....and I say they had 10 winners for 2.50 points....they say they had 46 winners for 17.57 points We are now at the point of how I count... We will use,as an example,100 shares per trade 46 round trips... 28 trades made with a profit of .30 cents or more 18 trades made with a P or L of .29 cents or less 28-18=10 winners Remember, I punch out at .25cents if the call is not made at a lower amount...but when I count and report winners, I use the .30 cents or higher figure as 1 winner. So....25cents x 10 winners = 2.50 x 100 shares = $250.00 reported profits. Next, I have expenses....I use .05 cents per trip to cover all expenses and losses... YesterdaysActual P & L ActualTrading P & L = +8.16 points .05 cents x 46 trips. = -2.30 points ........................... = +5.86 points 100 shares x 5.86 = $586.00 NetProfit +or- a few bucks This was an average day of NetProfits....some lower ~~ some higher... NOW,...I REALLY hope this helps... ClassOver... ....as always, GoodInvesting, Rocky
Rock, with such consistent profits, why aren't you going in with more size than 100? At 1000 shares that's $5k/day based on your average numbers.
Of course you are not going to make money trading there posts but some can be educational, a bit of a guide in such a complicated subject. Usually the track record on these rooms and sites are flexible, its easy to be smart in retrospect.
tell you what though if you really want to see a rip off site check out the king con man of them all Ken at www.daytradinguniversity.com. Another 50 points lol another 10 points lol Ive got some more of your money lol now thats one site i visit regularly just for a laugh.