90% Profitable Setup

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Quote from Spectra:

I was feeling a little frustrated in the trading room today. We have a once per day setup that has a 90% (no reason to be apprehensive there) profitability rate on the YM. It's given us +34 pts today and also on Monday (weird coincidence). After we closed out the day and did our recap in the room, Alex asked how many of the traders took the setup and only 3 guys said yes. That's only about 2 percent of our users. I asked the guys 'why' and I got a few answers back, most just broke down to being too scared to pull the trigger. Most could not even on the simulator? I remember being hesitant when i started trading but I don't recall being this cautious.

Instead, most of these guys took low probability trades in dead zone. I'd like more of our users to close out each day with nice gains.

I think Alex is going to write a big blog/article tonight on psychology issues. I hope new traders realize how important a proper mindset is. I will post it when he's done.

CajunSniper / Puretick.com Administrator-Trader
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Cajun Sniper/Spectra;

That is a puzzle ,''could not'' i mean would not, or chose not to use a simulator?????

For some of them, not pulling the trigger as a new trader, could be a blessing in disguise, especially with derivatives.

Looked at several charts on that day;
high probability years of experience as well trading something
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that fits thier personality,
---------------------------------- may make eventually a difference for some:cool:

I am sure a well known hedge fund manager did very well with gold derivatives;
actually never could even paper trade them profitable,myself. In that case my fear of trigger pulling , or caution proved to work out fine.
 
it is a ridiculous assumption to assume that spectra's setup involved MARKET order entries

fwiw, i trade the dow almost exclusively, and for a living, and the vast majority of my setups use limit order entries

why make that assumption?
 
whitster,
It can be played with market or limit orders. Its a longer term trade there is less margin for error. The trade lasted over an hour today. I can do things like anticipate bar closes to get a better fill.

The spread on the YM is normally one tick but I did see it get to two today.
 
'That's only about 2 percent of our users.'

You can give same system with clean and clear signals to 10 different traders in the same room and end of the day, week, month, you will have 10 widely different results. Welcome to the natural law of things!
 
LT701,

There are many terms you can use: Spam, soliciting, advertising, promotion, building a business---whatever you want.

I have paid extra money to be on this site.

Now here is a secret, please don't spread it around.

I do not expect you to believe anything I say. Your fear is understandable. This happened about 3 weeks ago when I last went into this room.

Let's face it, broadcasting information in a room is most likely going to get serious consideration from 1 out of 10 people. Guess what: that is about the same percentage of people who trade and win.

I know you are angry. Lots of others in this room are. Apparently there was some guy before who guaranteed results and lots got suckered into joining, paying big money and losing big time.

And if you think that is true with all professional web sites, that there is a whole world of only big-time hucksters, well that is OK too.

Obviously I did not go into this room to only deal with someone who does not know how to evaluate a trading room/methodology, but to hold out for the 1 out of 10. Now, just so you don't think that I am prejudiced, the last time I spurred the flames of controversy, about 11 members signed up for the trial. Nine re-signed. We charge 299.00 per month.

If it weren't for the "snake-oil" "huckster" and "old man" comments we would be out a lot of extra revenue. By the way, one of the 9 members who renewed did call me a "snake oil" salesman. So what does that make that person?

Must be pretty stupid to re-sign with a moron like me who does nothing but lose money.

C'mon detractors. A little more controversy!

Alex L. Wasilewski
Co-Founder & Head Trader
Trades That Work
www.puretick.com
 
<i>translation 'spam license'</i>

One that helps pay your way and every other mindless detractor's way on this website. Enjoy your free ET ride to voice your opinion at will... PureTick helps make it possible. Don't forget to thank them for your free benefits.

*

If the vocal detractors insist that all vendors are worthless scum, why not start your own educational threads in here just like <b>T28L</b> did?

Instead of spending precious time and resources posting worthless, negative drivel, invest your free time answering 100s of emails and PMs every day instead. That'll keep you busy, I'm sure... but just imagine how good you'll feel after doing that charity work for the next six months to a year.

Wouldn't that be a better way to "save the newbies" here instead?

Total rubbish
 
Not only does PureTick rock but some of the members in the channel (paid subscribers) rock as well.

Great atmosphere in there.

It's not just Alex, there are some individuals there that are serious traders, some even money machines.
 
Quote from Spectra:

Obviously I did not go into this room to only deal with someone who does not know how to evaluate a trading room/methodology, but to hold out for the 1 out of 10. Now, just so you don't think that I am prejudiced, the last time I spurred the flames of controversy, about 11 members signed up for the trial. Nine re-signed. We charge 299.00 per month.

Alex L. Wasilewski
Co-Founder & Head Trader
Trades That Work
www.puretick.com [/B]
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I've read this thread with morbid curiosity. The thought of re-entering day trading of e-minis makes my a-hole pucker, but I'm drawn to it like a moth to a flame.
That said, the only number that would/will impress me is overall, "long term" retention of members. That percentage tells the tale.
For me, searching for a "pay for tips service" is like interviewing for a sales job. I only need to ask one question. How many of the people you hired a year ago are still with you? The answer tells me everything I need to know about a realistic opportunity for success within that organization.
Knowing that sales/trading attracts the lazy and the gambler types, I don't expect the retention to be that of a traditional career path. However, anything less than 30-40% would be unacceptable.
 
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