Don’t DEFEAT yourself before the trade is over!

S

Spectra

At about 2:15 PM 5/10/07 we broadcast our last trade of the day. It was a call to short the market.

Unlike a few of the earlier ones which worked right away, this one
took a little time

I have deleted the members names to protect the innocent, hehe, but
you can see how people can start negative images about their own
trades.

14:15:21 {AlexLW} [**] SELL SHORT ALERT. USE STOP MANAGEMENT PER
GUIDELINES [**] ! !

14:17:35 {prospero:} don’t like it
14:18:54 {prospero:} staying on the sidelines until I see a clear
signal, im confused here
14:30:13 {prospero:} what if it brake and go higher
14:30:40 {prospero:} this may be a fakeout
14:30:49 {prospero:} Help me Alex, I don’t see it yet
14:33:32 {prospero:}sad thing is that stop will take away
the whole green, meaning i went too light on winners

Then a couple of traders even went against the signal:

14:45:45 {prospero:} long 98
14:49:39 {prospero:} long 299
14:49:21 {prospero:sounds like i should bail ;p
14:53:24 {prospero:1 out BE
15:00:44 {prospero:} SHORTING
15:00:49 {prospero:CajunSniper} finally doing something here
15:00:55 {prospero:CajunSniper} long? we were already short
15:01:30 {AlexLW} [xx] NEWER TRADERS CONSIDER EXIT BALANCE AT
MARKET. [XX] !

Only a few traders were able to ignore the pessimism:

15:01:46 {prospero:)+8 :)
15:01:50 {prospero:CajunSniper} wow calls dead on today.
15:01:53 {prospero:} +15 flat
15:09:21 {prospero:} covered 32 cars for +20
15:45:48 {prospero:} omg I close down and looks like I missed
another great short

The trade was a huge success. I don’t make this stuff up. The markets don’t defeat traders.

Traders defeat traders.

I think I may log off the next time many room members begin to
question their own trading positions. You put a trade on and a
stop. Then let the market run its course.

It is the doubt that causes traders to abandon decent trades that
are not stopped out way before hitting reasonable profit targets.
They reason, “Since the trade is not going to work, I am lucky to
make 3 points.

Alex L. Wasilewski
Co-Founder & Head Trader
Trades That Work
http://www.puretick.com
Recent trading results: http://www.puretick.com/trkrecord.html
1-877-GOLONG1 (1-877-465-6641)
 
Damn, those are some good calls you're making. I had better subscribe to puretick. The only way I can lose money is if I get in my own way and don't follow the signals!
 
you joke but thats atleast 40% of our users. They can't really follow anything without jumping around. Thats ok. We're here to help um.
 
Quote from Spectra:

you joke but thats atleast 40% of our users. They can't really follow anything without jumping around. Thats ok. We're here to help um.
More...

How can you expect them to? It's hard enough for someone who has developed his own method to rigorously follow it and not let his emotions interfere with his signal taking; at least in that case, he has his own strength of conviction and belief that his method which he created has a strong, statistical edge which will make him profitable. Taking signals with your own money which you don't have an exceedingly strong reason to believe in is not normal human - or trader - behavior. If you want to get a better rate of traders trading your signals exactly as you intend them to be traded, perhaps you can take efforts to make sure that all subscribers to your service have a very, very strong reason to believe in the validity and profitability of your calls - one suggestion might be an audited track record of your or Alex's account statement. My hunch is that doing as I suggested would be a hinderance to your service's profitability; as long as you can trade, you don't have to sell signals, and as long as you can convince people who buy your signals that the only reason you're not producing millionaires is because no one follows the signals, you can continue to churn away newbies while you teach them to trade with skewed risk/reward and to enter trades without a strong understanding of why the trade can be expected to work. I'm not going off topic here; this thread is a puretick promotion disguised as a rational discussion on trading psychology.
 
QUOTE]Quote from FXTraderWill:

How can you expect them to? It's hard enough for someone who has developed his own method to rigorously follow it and not let his emotions interfere with his signal taking; at least in that case, he has his own strength of conviction and belief that his method which he created has a strong, statistical edge which will make him profitable. Taking signals with your own money which you don't have an exceedingly strong reason to believe in is not normal human - or trader - behavior. If you want to get a better rate of traders trading your signals exactly as you intend them to be traded, perhaps you can take efforts to make sure that all subscribers to your service have a very, very strong reason to believe in the validity and profitability of your calls - one suggestion might be an audited track record of your or Alex's account statement. My hunch is that doing as I suggested would be a hinderance to your service's profitability; as long as you can trade, you don't have to sell signals, and as long as you can convince people who buy your signals that the only reason you're not producing millionaires is because no one follows the signals, you can continue to churn away newbies while you teach them to trade with skewed risk/reward and to enter trades without a strong understanding of why the trade can be expected to work. I'm not going off topic here; this thread is a puretick promotion disguised as a rational discussion on trading psychology. [/QUOTE]

Well f'in said!
 
If you had one simple answer to that question then you'd be a millionaire yourself. How? By building their confidence. They see other traders succeeding in the room. They get personal guidance, calls and lessons from Alex. We put a lot of time in to the guys. Ultimately most will fail. Some will not and we can be proud of that fact.

CajunSniper / Puretick.com Administrator-Trader

Quote from FXTraderWill:

How can you expect them to? It's hard enough for someone who has developed his own method to rigorously follow it and not let his emotions interfere with his signal taking;
More...
 
Spectra/Alex

just curious, what is your risk/reward ratio??

I heard you use 40 ticks stop-loss

what's the profit target?? or do you scale out??

don't mean to criticize by any means, just to be clear

thanks
 
Quote from Spectra:

If you had one simple answer to that question then you'd be a millionaire yourself. How? By building their confidence. They see other traders succeeding in the room. They get personal guidance, calls and lessons from Alex. We put a lot of time in to the guys. Ultimately most will fail. Some will not and we can be proud of that fact.

CajunSniper / Puretick.com Administrator-Trader
More...

I disagree with those who think you can only follow their own signals (I think it is almost a complete waste of time for most traders). There are a few good advisories out there.

But I agree with FXTraderWill (and it has been suggested before), that there are several auditing sites of which you must be aware by now, but you seem to dance around the subject. Why do you avoid independent? It takes no extra time, and it seems you would be willing to validate yourself.

That is enough to keep experienced traders away from you.

Few chatrooms and few advisories work. It is surprising you continue to evade the subject. This in itself brings into question your whole operation.

And of course, there will not be a direct answer to this. There never is.
 
Each trigger call alex makes uses a dynamic stop based on S&R. They usually range from 11 to 20 pts depending on volitatility.

There is a swing trade I play called MaxSpan which uses a 40 pt stop. I'd say 15% of the room takes that one because they are uncomfortable with the stop. Today it made over 100 pts. Starting something new can be scary. I know.

Quote from feb2865:

Spectra/Alex

just curious, what is your risk/reward ratio??

I heard you use 40 ticks stop-loss

what's the profit target?? or do you scale out??

don't mean to criticize by any means, just to be clear

thanks
More...
 
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