You should check out this guy when he goes mainstream next month. He just let our small group on Skype know he's sick and tired of seeing awful online education and how much they charge so he wants to help. It's actually scary sometimes how dead on he is reading charts. He's been posting a video a day from our chat just to get some people interested. FWIW his twitter is https://twitter.com/AllDayHolds
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Best live trading room on the net?
- Thread starter TradingDollars
- Start date
So Blaze trader, they also set targets ahead of time, and you can follow each and every trade? It doesn't take much playing around to turn losing trades into ingenious trades.yeah thats the best part i like about them, because trades are posted before they trigger and there is enough time for people to enter their orders and get in with them...they usually post like this XYZ Long at 32.10, Stop loss at 31.80.....so enough time to follow if you want, i usually don't follow all because I'm learning as well so only take those i like as well
I can also vouch for LiveTraders as far as apparent transparency/authenticity. As Blaze said, they post entries and stops ahead of time. If they don't have time to post it, then they don't include the trade in their official results. Sometimes they even miss trades themselves because taking the time to post them interferes with their own order execution.So Blaze trader, they also set targets ahead of time, and you can follow each and every trade? It doesn't take much playing around to turn losing trades into ingenious trades.
They often post targets early on, or will mention them verbally on the mic -- but they'll definitely tell you what they're looking for as targets if you ask. They each manage their trades slightly differently, so their targets aren't always set in stone from the beginning, even if they have a general target(s) in mind... but they'll also usually give a heads up prior to taking some off. They provide detailed analyses of their trades, and will admit to mistakes, mismanaging trades or getting shaken out when it happens.
As far as fudging results -- they post some fairly significant losers/losing days (and losing streaks), as well as mediocre days, so not sure what their incentive to do so would be if they wanted to embellish their results. They also provide screen shots of their PnL (one shares his TS platform live). Posted trades are listed under a separate chat tab, and official results are provided EOD (or by no later than the next day), and summarized at the EOM, so you can also compare those vs. their posted trades. If you look at their stats (e.g., batting average, "Sharpe"), they're not exceptional as far as being "unbelievable"/incredible... but consistently very profitable over the long run. While that's not *proof* of real trading, it's what you might expect from real (professional, successful) traders.
In general -- they seem to try really hard to post timely, actionable trades, and be fully transparent about their results, which they promote as one of their service's core values.
This is exactly what I'm talking about. You see, it's those vague targets that make alllll the difference. I'm not sure you realize how little you need to change to look like a genius instead of showing that you are a loser. If you cannot follow each trade given before the fact, with an exact target and stop, then you have no idea if they're trading profitably or not.
Although I kinda understand where you're coming from, I'm not sure *you* realize that not every trader manages trades the same way you do.This is exactly what I'm talking about. You see, it's those vague targets that make alllll the difference. I'm not sure you realize how little you need to change to look like a genius instead of showing that you are a loser. If you cannot follow each trade given before the fact, with an exact target and stop, then you have no idea if they're trading profitably or not.
Also, note that as I stated, they generally *do* provide targets early on, and will definitely answer you if you ask what they're looking for (targets). At the same time, they won't blindly manage to target, but will treat the trades as the fluid situations that they often are. For example, one often uses MA trails -- so if it violates the MA per his rules, then he's not gonna stay in it. Another example -- if they see a potentially exhaustive volume spike, then they may take profits before target, or at least take a partial. They will explain along the way what they're doing and why.
It's tough to generalize about them, because you have three different moderators (actually, four now) with three different management styles and approaches. They also have a lot of trading experience, and so will sometimes act on intuition vs. rigidly adhering to rules (occasionally to their detriment -- and then they will admit they messed up).
If they really wanted to manipulate/fake their results to look like "geniuses," then they're actually doing a kinda poor job of it. Unless you think their game is to give the appearance of being more "realistic," lol.
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LOL, if you're being funny. If not -- critical thinking is good, gullibility is bad... but being cynical does not automatically connote intelligence or smarts.Let's see? S trader, Blaze trader, I wonder what the next schill will be named. A Trader would work pretty well.
I have nothing to gain personally from posting an honest opinion in response to what was asked here. I don't get any referral fees, better treatment, etc. -- I don't even know if they're aware of this thread. In fact, selfishly -- I'd rather see the chat remain small. Yeah, you get more ideas from more members... but you also get a lot of noise, potentially disruptive members, etc. Personally, I dislike large chat rooms, unless the rules are so strict that virtually no one is allowed to post besides the mods.
The best thing I can suggest would be to see if you can get a free trial, and also to keep an open mind as to all opinions (both good and bad) expressed from subs. (Yes, I'm acquainted with "Blaze" from the chat, but neither of us is affiliated directly with LT beyond being fellow subs.)
So, my point exactly. It's just another service that offers no chance whatsoever to prove that those providing the service are profitable in their trades. I'm not curious as to whether or not they manage trades the way I do, what I would like to know is whether the way they manage trades is profitable or not. However, one is not privy to this piece of info. We're just to assume that they make money, because it generally appears as though they do. But you, it's the profit target that is the most important part of the trade. Whether profit was taken at .1 percent, or 1 percent is all the difference between a profitable and unprofitable trader. I'm just really sick of these deceivers preying on newbies on forums.
TBH, I generally don't pay much attention to their results, because they have no bearing on my own success/failure as a trader, nor do I believe in blindly following anyone's trades. (The only reason I've looked at them recently was because another member had asked me to send him their results because he is out for a few weeks.) Sure, you'd obviously like to have a good degree of confidence in thinking that the people leading a chat you sub to are very successful traders... but I've seen enough of these guys in action over a long period of time to have formed an opinion that I'm personally comfortable with.
I can't fault you for having your own (high) standards of proof, but I'm kinda curious as to what it would take to meet your expectations, short of sitting there side-by-side with them. (BTW, I've also spoken with someone who *has* traded side-by-side with one of them as a coaching student, and he has said nothing to suggest that they are faking things in any way... although I guess he could be lying as well, lol.) If you look at my comments, I've tried to be objective and simply provide my own observations, vs. subjective opinions. That's kind of the best we can do here in the forum when someone asks. Realistically, there's no such thing as 100% certainty about anyone or anything here, right?
But again, the best thing a newbie or anyone else looking for a new service can do is to try it out him/herself -- and certainly wait for a free trial, or at least a highly discounted trial. I'd also suggest they try a few before they settle on one... and even then, I'd discourage signing up initially for any long-term membership, despite the typical discount. I wouldn't say that any service out there is the single "best" -- it's about finding one that suits your own personal needs and preferences as a trader at that point in time.
I can't fault you for having your own (high) standards of proof, but I'm kinda curious as to what it would take to meet your expectations, short of sitting there side-by-side with them. (BTW, I've also spoken with someone who *has* traded side-by-side with one of them as a coaching student, and he has said nothing to suggest that they are faking things in any way... although I guess he could be lying as well, lol.) If you look at my comments, I've tried to be objective and simply provide my own observations, vs. subjective opinions. That's kind of the best we can do here in the forum when someone asks. Realistically, there's no such thing as 100% certainty about anyone or anything here, right?
But again, the best thing a newbie or anyone else looking for a new service can do is to try it out him/herself -- and certainly wait for a free trial, or at least a highly discounted trial. I'd also suggest they try a few before they settle on one... and even then, I'd discourage signing up initially for any long-term membership, despite the typical discount. I wouldn't say that any service out there is the single "best" -- it's about finding one that suits your own personal needs and preferences as a trader at that point in time.