BestDayTrader Q&A

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Shay mentioned on this thread that his traders were making between 1% and 5% profit per day on average, so that indicates that shay`s trading must be world class. None of the traders in Jack Schwager's market wizard book achieved anything near that kind of return and certainly no one on wall street achieves that kind of figure (where an annual return of 50% is considered very good)


So shay must be one of the worlds best traders then........assuming his figures are correct (which he maintains they are.)



hmmmmm something doesnt feel quite right here but I just cant put my finger on it.
 
Shogun-Trader - Maybe this is a simpler way to ask the buying power question -

With regard to the potential average profit of $17,884 - to what % return does that figure correlate?
 
With regard to the potential average profit of $17,884 - to what % return does that figure correlate?

That amount is the difference between the price called and
the high of the day for long, low of day for shorts. With this
buffet, it's impossible to eat it all unless you can always get
out at the high and low of day.

I believe it's easy to make calls without stops because I've
seen Waxie do it all the time before when I had a free trial
of his chatroom. Also, during my free trial at UndergroundTrader.

Call is made. Stock goes down 2.
You get a message you should've stopped out while ago
at 20 cents loss.
Call is made. Stock goes up 10 cents then drops 2 points.
You get message you should've taken the 10 cent gain.
Call is made. Stock goes down 50 cents then goes up 2 dollars.
You get message that it was a great call with 1.50 gain!

There is no way to make a bad call unless you call the high
of day.

Good Luck!
 
Shogun, don't worry about all the negativity. Unfortunately, it is normal on elite. Many of us have experienced it when trying to offer some insight.

There are so many "traders" here that are negative jerks. Anytime you mention something that works for you or might work, they jump all over it. Most likely because they are bad traders who never make money (like most day traders are) and therefore cannot believe that anyone else could make money.

I'm sure most traders (especially new or unsuccessful ones) could learn something from being in a live day trading chatroom with lots of other day traders and a "mentor" type teacher. That is regardless of whether the banner ad's potential profits are overinflated.

PS: I'd like to see anyone here post all their brokerage statments... that's a ridiculous request.
 
Shogun-Trader -

With regard to your potential profits claims - you aren't using the HOD as the exit point for longs and the LOD as the exit point for shorts when calculating the potential profits, are you?
 
Quote from nyc-hotshot:

Shogun, don't worry about all the negativity. Unfortunately, it is normal on elite. Many of us have experienced it when trying to offer some insight.

There are so many "traders" here that are negative jerks. Anytime you mention something that works for you or might work, they jump all over it. Most likely because they are bad traders who never make money (like most day traders are) and therefore cannot believe that anyone else could make money.

I'm sure most traders (especially new or unsuccessful ones) could learn something from being in a live day trading chatroom with lots of other day traders and a "mentor" type teacher. That is regardless of whether the banner ad's potential profits are overinflated.

PS: I'd like to see anyone here post all their brokerage statments... that's a ridiculous request.
More...

I agree with you 100%
ET has so many furum junkies who like to cause $#!^. I feel for ya Shay.
 
Quote from c_verm:

I agree with you 100%
ET has so many furum junkies who like to cause $#!^. I feel for ya Shay.
More...

Again, I'm not trying to cause $#@!. Maybe you are not talking about me - but I've simply asked simple questions in an attempt to understand the information supplied by Bestdaytrader. I haven't accused him of anything or made any claims at all. In fact, straight answers to simple questions would surely help his business in the long run.
 
Quote from nyc-hotshot:

PS: I'd like to see anyone here post all their brokerage statments... that's a ridiculous request. [/B]
More...

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I do agree with this statement. However, as I said earlier.....

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BSAM
Elite Member

Registered: Sep 1999
Posts: 653


05-13-04 11:38 AM

Avg points per day:
18
Avg profit per day:
$17884.842

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Something stinks here---REAL BAD!
 
Asked this...

"How does your service offer value? How does bestdaytrader approach position sizing in the daytraders account?"

Got no answer...

Then asked this. Granted it is a bold request, but not completely out of line for someone that wants to get paid for making calls.

"shogun, I am interested in being coached. But first I need to see the coaches daytrading blotter for the last 5 years. Post the brokerage statements here and you have a customer."

Received this answer

"Indahook, we don't trade for people, we help people trade. My record of helping people to trade is right on the site. You are more than welcome to go through it trade by trade."

hmmmm..ok

I am looking for a REAL coach. Most def not busting balls or flaming. I am willing to pay them for their time and share profits if they can prove it with statements. Believe it or not I am already a profitable trader. But I want to get better. Anybody who is the best at what they do had/has a coach or mentor. Taking my trading to the next level is paramount for my success. Staying stagnant making $100-$200 net daily is just treading water.

Good luck
 
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