BestDayTrader Q&A

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Any question relating to how trades are logged, calculated and determined as posted on our website is a trading questions. Since the results are determined by the traders.

I am not a trader or a broker. My role as mentioned in the introduction is Business development not Head Trader. I have politely stated more than once that I can not answers those questions and they will be answered by the appropriate person shortly.

Please be patient and await a response from Shay or submit your questions directly to support@bestdaytrader.com
 
Quote from Yannis:

Are we (ET) getting so defensive, and so ready to attack eveyone who is not conforming to what we think is "proper language" that we are stopping good traders and educators from even wanting to address this forum? That would be terrible and would undermine what we all came to ET for in the first place.
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(1) Anyone who is not totally naive would not be making a big deal over the $18,000 per day potential profits (or whatever it was). Why? Because anyone who is the least bit informed and knowledgeable about trading knows such claims are perhaps possible, but highly unlikely.
(2) This thread has drug on and on and on ... who bashes and continues to do so? Oftentimes it's those who are not successful at trading or those who may have washed out. Those who actually trade are doing so from 9:30 - 4:00.
(3) It's unfortunate that ET has become such a hostile environment and caused many threads to become meaningless arguments.
 
Quote from Yannis:

Totally agree on the exit part - it's key. Also, the stoploss is extremely important. I guess, the stoploss is part of the exit scheme.
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My thoughts on "exits" is that if people expect to be told WHEN to enter AND exit then they aren't cut out to be a trader. That's the easy way to always have a scapegoat ... with losing trades you can blame whomever made the call. It's all about personal responsibility to me. Clearly one has to think quickly and can't be playing every call someone might make. So you have to make your own choices on what trades to take (if you want to follow someone elses calls) as well as when to exit. Bottom line is that I think most successful traders are trading what they see day in and day out and not wanting someone else to lead them to (potential) profits.
 
Quote from BDT:
I believe all relevant questions were answered. Please review the thread fully. Any matter that was not addressed by us is irrelevant and does not pertain to the purpose of us being here.
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I believe that the questions of what account size is needed to produce the hypothetical results, and what exit prices are used to achieve the posted results, are relevant questions. I have reviewed this thread fully, and have not found answers to these two questions. I agree that these issues must be addressed in order for the claims made by BDT to have credibility. Sidestepping a question does not inspire confidence in the respondent.

I also do not understand how a person in charge of business development for a company would be unable to answer questions about the company's operating procedures. These questions do not pertain to trading in particular, but rather how the company markets it's product. Part of business development is explaining to potential clients how a company tracks and reports it's results.

I look forward to Shay's reply to these two questions after the market close.
 
I do not think it is acceptable to make such claims without support.

let say some MD will claim that he can cure AIDS only for 5Mil. with some claims on the web site.

than a customer will ask for some medical evidence. and in response he gets "put your money where your mouth is"
 
Quote from mikecully:

If you emailed Shay he should have responded by now. He responded to my question... Hes good about getting back to people.
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Hi Mike,
On the link you gave to your site it says "PageTrader believes that once you experience the #1 future forecaster in the world"
Just wondering how you know you are the best. Not sure what your site has to do with BDT but since you gave the link and mention Shay perhaps I missed some posts.
 
Quote from DHOHHI:
My thoughts on "exits" is that if people expect to be told WHEN to enter AND exit then they aren't cut out to be a trader. That's the easy way to always have a scapegoat ... with losing trades you can blame whomever made the call. It's all about personal responsibility to me. Clearly one has to think quickly and can't be playing every call someone might make. So you have to make your own choices on what trades to take (if you want to follow someone elses calls) as well as when to exit. Bottom line is that I think most successful traders are trading what they see day in and day out and not wanting someone else to lead them to (potential) profits.
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Pardon me for saying so, but you seem to contradict yourself in this post. On one hand, you say one isn't cut out to be a trader if they have to be told what to do. But then you say one must be selective in taking someone else's calls. You conclude by returning to the original point, that successful traders trade what they see, and don't rely on being led by someone else. I am not sure where you stand on the issue of advisory services in general, or BDT in particular, based on this post.

This thread has been very civilized in my opinion, especially when compared to others on ET. For the most part, posters have asked good questions, and received reasonable replies. The issue right now is the question of the performance claims being made, and how they are derived. While I agree that most claims are just marketing hype, this does not absolve the person making them from responsibility. If a company is making misleading statements about their performance, what is to say they won't be dishonest in other areas of their operation, such as clients funds? A company of this type has credit card numbers as well as other personal infomation, which could easily be exploited.

I believe the issue at hand is credibility, plain and simple. If this issue can be resolved satisfactorily, then it would go a long way toward establishing the credibility of this company.
 
well, at least they changed their ridiculous banner..

just a note for newbies that might be reading this thread.. when i first started trading nasdaq stocks in 2000, i joined a fairly popular chat room because i wanted to learn from other successful traders.. the operators of this room did not have a clue about trading and created ALOT of losses for those in the room who were either blindly following their calls or who were trying to learn a method that had a negative expectancy.. interestingly, there was always someone posting about a big win in the room or about how the room had helped "turn their trading around".. of course, no one likes to brag so much about their losses in public..

what i found was that many of the traders in the room stayed there even though they traded vastly different styles because of friendships made in the room.. (most of these people were not paying to be in the room).. also i came to find out that many of the handles in the room were shills.. dummy names used by the site operator to ask just the right question at just the right time.. and also to pump up the attitude in the room.. and to make the room appear to have more members than it did..

there are some really good chat room services out there.. you can tell the good ones because they tell you the truth about trading.. they will talk alot about probabilities.. also the psychological aspects of trading.. they will drill into your head the need to keep accurate records and to review them constantly.. they will want you to have a thorough understanding of the setups used before placing your first trade.. in short, they will want you to succeed.. they arent afraid to tell you that you will pay tuition to learn this business.. and they dont make wild claims about profit potential..

newbies, beware.. the learning curve in this business is steep.. make sure if a chat room claims something that they can back it up..

do a search on ET.. there are better places to learn..

-qwik
 
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