Quote from bidie:
If you don't know what you are doing when it comes to trading S&P or currencies then I think it will be very hard to follow anyone- You might as well give your account to someone else and let them trade it because it is a very steep learning curve, not to mention the discipline required-
-Again, Jay uses a simple retracement system-
When currencies trend they tend to have corrections and Jay's system sets up retracement abd take profit levels for people to get in and out of, when these corrections happen- This type of system emphasizes conservative management of trades because you are always with the trend-
You are trading in the direction of the trend, until it changes- then you reestablish trend and repeat-
With 50 other people in the room you can learn a lot from their questions, let alone following Jay's own method-
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$500.00 is not a lot of money if you are going to trade currencies and you can quit after a month if you get what you need from it-
Funny thing is: he only comes back on when the trade is in the money, and has a legitimate reason for why it wasn't yaken if it fails. All after the fact!!!! So, go ahead and deny that if it makes you feel better.
The problem is people underestimate how hard this is to do I think- this game is all about learning and you are competing with very bright people that program computers to trade for them so you need every advantage you can get!
I understand that trading takes time to learn, but Jay needs to stop telling people it's "so easy a baby can do it." And, defintely needs to stop telling his members that they should be making 50-100/day, if it is truly as hard as you say. Jay overpromises, BIG TIME!
It started as a retracement system that was supposedly 85% accurate with the double dots on the ES along with MOMO trades. Those trades rarely appear anymore, nor do they workout to that win percentage. When presented they were the ticket to 8-10 points per day. Rarely, do any of these setups capture the big 8-10 point runners that Jay was boasting at the start of the room. Then, we had compression trades that became the big buzz and fell by the wayside. Another useless setup that looked great when you went back a few days on the chart, and eventually became invalid and unreliable. He has frequently changed the indicators to make it "easier for people to pull the trigger", but, again, those who have bought into the "easy money" method that Jay sells SO HARD, are getting fried. Now, we have support/resistance lines which look like he lifted them right off of Nexgen. Of course, these are all his own. Are they? When will he stop changing and retooling if this system has worked so well since '93?
Last I heard, what started with 50 paying members is now down to 30 or so. OUCH!! That certainly doesn't reflect too positively on what Jay is offering. Also, the 2 guys that are doing really well have developed their own technique to capture profits from the EC. They only use his indicators, which members are totally dependent on. I would rather participate in a room that teaches me something that I can take away. Who wants to be subject to Jay's constant juggling of indicators and desktop viewer malfunctions? All to frequently this is the case. Are you going to deny that?
6000K/year is a lot of money and Jay has even said it himself. This is why he says that he wants to share everything he has learned to help members make money. BS!!!! He just wants to keep you hopeful that the corner will be turned SOMEDAY so you keep paying. "It's just going to take screentime guys!" CHA-CHING!!CHA-CHING!!CHA-CHING!! Save all the bells and whistles and just call trades in real time, if you want members to make money. Instead, you get "Hey guys! Momo channel break about to happen to the downside!! You got that guys?! OK, I'll be back on." He disappears for 5 minutes and then comes back to say,"You should be getting out of your first target here guys. Who got in this with me?
Funny thing is: he only comes back on when the trade is in the money, and has a legitimate reason for why it wasn't taken if it fails. All after the fact!!!! So, go ahead and deny that if it makes you feel better.
People underestimate trading? True, but Jay needs to responsibly deal with that fact and not make these wild claims. He certainly can't be ignorant to the fact that people have never traded before. He says right on his website that it is tailored to the novice. Novices need hand holding in this market, even if "it's so easy a baby can do it". If he is not willing, then he needs to change his marketing or deliver on the promises he makes to his customers. Sounds fair for 6000K/year right ?
You disagree with me on all points? How much is he paying you to be his shill? Maybe you're Jay himself. I look forward to your reply.
