BestDayTrader Q&A

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Quote from Shogun-Trader:

I answered Quah a few times, he doesn't like my answers and that is ok.

I am not going to argue about "impossible", "potential" or "cant".

If Quah has meaningful trading related questions, I wil answer them. I am not here to run in circles around word puzzles.

Here to talk about trading.
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Actually, you didn't answer my questions - we moved past the "potential" "game" - but you still didn't answer my questions, but I have summarized them below for your reference.

Quote from BestDayTrader:

Quad,

I must admit that because of the repeated reference to the Ad, I have lost track of what you were actually asking and whether there was an actual valid question.

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I can understand losing track of the question(s) - so I'll repeat them for your review:

(please note that all my questions have to do with the results posted on your website, and my attempt to understand them and correlate them to real life and the chat room logs you post along with them)

My first question is what is the required account size (buying power) needed to be able to actually trade each days calls in order to achive the return you are showing on your website. I realize you don't "have" to take all the calls - but thats not what I'm asking about. If I took all the calls you show in that table on your website (on 5/10/2004 there were 39) - how much buying power would I have needed to take all 39 of those calls?

Or, the same question in a different form - on 5/10/2004 the table shows a potential profit of $20,910. What % return does that $20,910 represent?

My second question was a request for you to help me find (as you suggested) some of those 39 trades in the chat log for that day. I was interested in seeing a winning trade and a losing trade from those 39 - in the chat log. I can't seem to really figure out how to find them.

Thank you!
 
Quote from pspr:

Ha ha ha ha ha ha. But the buffet doesn't advertise that you can potentially eat 2 tons of food at one sitting either!
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LMFAO! I actually know a chinese buffet that does that. This is on their banner "Eat 200 lobsters, 400 shrimp rolls, and 3000 fortunes cookies for only $12!!"
 
This is what I think Quah is asking.
this is list of the stocks traded on 5/10/2004.
I understand that you trade baskets of stock and since your log is not clear when your trade is close I will assume that half of this list is traded at same time that means that someone would need about 500K in buying power if 1000 shares traded per each position. This is just an example and not actual figures. Actual information can only be provided by Bestdaytrader.com

EBAY 79
XMSR 23
TASR 29
QCOM 64
AMZN 43
ADSK 35
RIMM 94
YHOO 27
IPIX 8
BRCM 38
VISG 9
OVTI 22
SYMC 47
SINA 29
ASKJ 38
DIA 100
AMGN 57
IACI 29
XLNX 35
LLTC 38

AVERAGE PRICE 42


 
Quote from LiL"C":

Why am I funny
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You are a great kidder "LiL "C"". I trust you are having a blast playing the little character game here (at least I hope it's a game). If you are sincere, my apologies to you and I whole-heartedly encourage you to join "Shogun's" room. It should be a very educational process for you.

Phil
 
Firstly, I would like to thank Quah for his thoughtful questions and the author of this thread should really discern quality from the average sort of post. Quah has actually been very patient and is having to ask his legitimate questions many times. I share in these particular questions he is asking and would ask them myself if he had not. I too, am patiently waiting for a direct clear answer.

Please do not lump those of us who are serious traders into the general context here in this thread.

Secondly, If your subscribers make 1% a day on their risk capital (hard stop value) assuming 1 trade a day trading 1k shares of a $25.00 stock does this mean (assuming they risk 5 cents/share) that there "potential profit" is 1000*0.05=$50.00*1%=$0.50 cents?

Please excuse this naive question, as I have grown more concerned over the frame around the picture, than before, maybe its just that I am very cautious. Honestly, I have bookmarked your site because you are a sponsor in ET. But after reading this thread, I too need these questions answered, that have been asked by Quah.

Lastly, I would like to thank you for your patient helpful attitude and I can see you folks are serious about being coaches at BestDayTrader and truly want you to do the right thing and survive. The NFA in the Futures industry would not tolerate your advertising methods, just for your information. Please do not take this the wrong way, its just there are many abuses in the Futures industry and I believe the NFA keeps it from becoming a circus. I have noticed that regulation among stock trading websites seems to be enforced differently, and in fact you may be completely legal in the general "air of success" you are proposing.

Michael B.
 
I am willing to pay half or split the cost of the chat service with a well known person on ET such as Quah, ElectricSavant, TriPack or other who is willing to commit for a month to this chat service and provide clear info.
I do not trade stocks I trade ES but from my past experience even when you trade liquid stocks you are not always getting fills on limit orders (depends on when order has been send) especially on breakouts so results could be different. In my understanding it is very difficult to archive 90% success rate with a small stop.
 
Quote from balda:

This is what I think Quah is asking.
this is list of the stocks traded on 5/10/2004.
I understand that you trade baskets of stock and since your log is not clear when your trade is close I will assume that half of this list is traded at same time......
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Yes, that is exactly what I'm asking - but I assume the opposite, that most, if not all of the trades are open at the same time.

I figure there is no need to speculate about that when it is certain that BestDayTrader should know the exact answer since they have the list of trades made for 5/10/2004 - including entries and exits - that comprised those 39 trades that netted a "potential" profit of $20,910.

I wish BestDayTrader would just, for this one inquiry, simply post a list of those 39 trades - entry and exit - instead of making us sift through 1000's of lines of chat log. Again, the data must be available if they are able to post the "potential" results on the web page.
 
Quote from Quah:


I figure there is no need to speculate about that when it is certain that BestDayTrader should know the exact answer since they have the list of trades made for 5/10/2004 - including entries and exits - that comprised those 39 trades that netted a "potential" profit of $20,910.

I wish BestDayTrader would just, for this one inquiry, simply post a list of those 39 trades - entry and exit - instead of making us sift through 1000's of lines of chat log. A
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I think Shay said somewhere he doesn't give an exit as he leaves that up to traders. When I was there most of breakouts I caught only lasted a few minutes so I had maybe 2-4 positions open. What I found was you had to be very fast and intuitive to get out of the positions at the right time and my scalping skills were poor in this regard (have improved much in the last 9 months). A few seconds delay could make a noticeable difference in bottom line.
 
Quote from roberk:

I think Shay said somewhere he doesn't give an exit as he leaves that up to traders......
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Roberk - Yes, he said that he doesn't give exits in the chat room - but again, that's not what I'm asking about.

I'n order to post the "potential" results found at http://www.bestdaytrader.com/dayperformance.php there must certainly be an exit point - otherwise there would be no way to calculate the "potential" profits realized.

And BestDayTrader or Shogun-trader - let's not make this a circular discussion. When asked about these "potential" trades previously - you asked that we simply take a look at the log to see the trades - fair enough. (and I've requested assistance in locating the trades in the log) However, if the log doesn't contain exits, then that is not a fair request at all.
 
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