BestDayTrader Q&A

[qwiktrade]

Quote from Trend Fader:

Here is my opinion.

The reason why many real traders are on this thread bashing BDT and giving him a hard time is because at the end of the day... he makes all of us look like shit. So does Waxie and all the other idiots.

ANyone that makes these outrageous claims and easy money.. %1 a day crap makes trading look so easy that a monkey can do it. Any professional or businessman will look at the industry full of hucksters and make a million dollars in 6 months BS. Its similar to what Carlton Sheets does to the real estate business.. except I would say he has more class and credibility.

You get some no name guy that doesnt even trade his own money telling others that he can teach them how to make $18k a day.. c'mon any one with half a brain smells that shit.

People like LBR and David Floyd... both have chat rooms but they are much more professional. They dont have pie in the sky claims... are real traders that actually made a great living off it.

I like to take trading as a very serious and difficult career that has excellent rewards but abnormal risks involved. The last thing I want is people to start thinking is that its just a matter of clicking buttons and sitting in a chat room all day. It makes many traders ashamed of what they do for a living.

If anyone dare come on this thread ( and thats a threat) and claim that they can teach people to make a potential of $18k a day.. better have some good evidence and proof to back it up.. otherwise.. they will be fed to the dogs w/o any pitty. We are elite traders here.. not a bunch of sheep herd.


--MIKE

many excellent points..

-qwik

 

[qwiktrade]

Quote from Trend Fader:

Time to close the thread... its obvious they are no longer responding.


--MIKE

well, there is a limit to what one can do with smoke and mirrors after all..

-qwik

 

[keeptradin']

I believe BDT is not responding to the recent posts due to the fact it is the weekend, and they're probably decompressing from the stress of the week and staying away from ET. They don't strike me as the type that would cut and run so quickly, I'm not ready to put them in the "TraderBrad" category just yet.

Nihaba makes good points about established businesses not needing to offer freebies, but I believe this is a different scenario.

First, I don't believe that BDT is really that established yet, even though they claim to have been in operation since '96. There was nothing here on ET about them until they started sponsoring, and the threads which ensued. That's not to say posts on ET legitimize a business, just that it's likely they would have at least been on the radar screen.

Second, I believe there is a difference between a tangible product, such as a car or seafood or even a haircut for that matter, and an intangible like an advisory service. Professionals offering a service, such as doctors and dentists, rely more on word-of-mouth to bring referrals to their offices. There seems to be no referral base for BDT to this point, other than "testimonials" on their website. Therefore, an eductaed consumer is wise to request some type of trial before paying for services, especially when "all sales are final."

 

[Quah]

Quote from keeptradin':

....an eductaed consumer is wise to request some type of trial before paying for services, especially when "all sales are final."

I understand what you are saying - but an truely educated consumer wouldn't even request a free trial after seeing the claims that are made on the website. Those claims and testimonials tell the educated consumer all they need to know.

Most of the takers will be of the non-educated consumer category - newbies - who do in fact "hope" the claims and testimonials are true. Too bad it costs a lot more than $200 to find out they are not.

 

[NihabaAshi]

Quote from keeptradin':

I believe BDT is not responding to the recent posts due to the fact it is the weekend, and they're probably decompressing from the stress of the week and staying away from ET. They don't strike me as the type that would cut and run so quickly, I'm not ready to put them in the "TraderBrad" category just yet.

Nihaba makes good points about established businesses not needing to offer freebies, but I believe this is a different scenario.

First, I don't believe that BDT is really that established yet, even though they claim to have been in operation since '96. There was nothing here on ET about them until they started sponsoring, and the threads which ensued. That's not to say posts on ET legitimize a business, just that it's likely they would have at least been on the radar screen.

Second, I believe there is a difference between a tangible product, such as a car or seafood or even a haircut for that matter, and an intangible like an advisory service. Professionals offering a service, such as doctors and dentists, rely more on word-of-mouth to bring referrals to their offices. There seems to be no referral base for BDT to this point, other than "testimonials" on their website. Therefore, an eductaed consumer is wise to request some type of trial before paying for services, especially when "all sales are final."

keeptradin,

Valid points and I completely agree.

NihabaAshi

 

[iceman1]

Quote from taigong:

Shogun-Trader,

I know you are a good trader and you know what you are talking about from above. And I am sure you have 100k capital for trading. You might as well trade for yourself averaging 1-5% a day and, in 3-4 years, you will be sitting on a cool $185388282, compounded, as computated on your website.

http://www.bestdaytrader.com/swingtrading.php

Why do you waste your time on the cynics, skeptics, frustrated/narrow-minded losers, and idiotic flamers on ET? Isn't it just better to take $$$ from their account--maybe easier than to convince them?

The Hassle/Reward ratio is just not worth it.

Unless you don't believe in yourself....

tc

the above post about says it all folks......!!

Next!

IcE

 

[iceman1]

Quote from Cutten:

Someone offering an advisory service to traders has two sources of credibility:

i) they have a good profit record of trading for themselves - the customer can then expect to make money by replicating the advisor's methods
ii) they can't personally make a good profit trading, but are good at improving the performance of actual traders (e.g. trading psychologists & other coaches) - the customer expects to make money by benefiting from the coaching

If they can't either trade profitably themselves, or make other traders improve their trading, then their services are not really worthwhile IMO.

In case i), it is easy to prove credibility - just post account statements, or clear & thorough actual performance records, and get it signed off by an accountant. In case ii), it is a bit more difficult to prove credibility, however one easy way is to post the performance of, say, 10 randomly selected subscribers. If the service is good, then most of them should at least be profitable, and more profitable after being subscribers for some length of time than they were to begin with.

If the advisor or his clients DO have good performance, then there is absolutely no reason whatseoever not to post it - it can only help the credibility of the advisory service. So if such performance is not posted, then there is a strong suspicion that the reason for this is it does not exist.

Gotta add that Cutten's obsevations are right on imho!

I have always believed that many can teach well, but perhaps never trade or play a game or sport as well as their students learn to do...

OK, then why not give verifiable testimonials!

IcE

 

[iceman1]

Quote from Norman3132:

".......After taking the full series, you will be able to use your education to join the many 7 figure income producing traders that we have trained."


I know how they produced traders with seven figure incomes - first they found traders with eight figure incomes !

LMAO! your last two posts cracked me up! Love that bit about hiring a mercenary to protect the hypothetical holy grail trader.

good job bro... ! ever think about stand-up comedy!!

IcE

 

[copa8]

Quote from Quah:

Balda - You are missing the real holy grail in the education section of the BDT website - for $449 you can take the online class "How to pick perfect tops and perfect bottoms every time" which, among other things includes:

"Learn our full set of indicators that will allow you to pick every top and every bottom."

See that? Pick EVERY TOP and EVERY BOTTOM! for only $449! Forget the chat room - just save up 2 1/2 months of chat room fees and take this course and feast from the buffet like a madman.

Quah - don't think its that cheap. the $449 is the discount amount off the regular price: "Now only $1347.00 Save $449.00"
you better hurry before you miss this deal

 

[Quah]

Quote from copa8:

Quah - don't think its that cheap. the $449 is the discount amount off the regular price: "Now only $1347.00 Save $449.00"
you better hurry before you miss this deal

No, that's only if you buy all 4 different classes at once.

Which begs another question - if you can pick perfect tops and bottoms every time - why would you need the other 3 classes?