Pristine chatrooms - worth $750? or no..?

Originally posted by New_2_this
When they call something as a buy and ring the little bell, the stock seemed to jump straight up. I don't know if it was because of all the pristine minions hitting the button at the same time or if they were just trading common setups or what.
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This is something that I've always wondered about - isn't it basically a form of frontrunning to make a call after you've already put on your own position? I know fund managers and that whole crowd do it all the time, but they have a loophole since they are required by law to disclose their positions at some point every year anyway. And let's not even get into the Chinese walls they have rigged up at Solomon, Goldman, and AG Edwards. :mad: Those guys can get away with it because they ARE the market.

Aren't chat rooms the internet version of the stock "pools" of the early 1900's, which were forbidden by the SEC acts that were passed in the aftermath of the crash and the great depression? The obvious reason for this was to prevent manipulation of prices by pools (if you don't know what I am referring to, read Reminiscences).

There is a flip side to this - one would think that on lower volume NAS stocks that don't get arbed by hedge funds against the indexes, a large trader or hedge fund could easily trade against these calls, and use the price vulnerability of the novice traders that follow the calls to fade the calls and amplify profits. I've never used one of these chat rooms, but if I had a large hedge fund that could afford to take these risks, I would dedicate time to fading the calls on thin NAS stocks, and watching the price move in my direction as the hordes of sheep all hit the sell button as I feed them 100k shares.

Am I on the right track here?
 
I subscribed to their service for a while. I used to collect all of their calls and store them in a binder for study. I get their free weekly trade of the week email.

Pristine's service is primarily oriented towards swing traders. Their setups are logical and their trade management methods straightforward. With proper money management and discipline, someone following their "DayTrader" daily setup alerts should do well.

Unfortunately for me, during the time that I subscribed to the service, the bull market was just making starting to fall over the cliff and I didn't even know a concept such as money management existed. Besides how to set stop losses, Pristine's service at the time didn't have any advise for new traders as to how to manage position sizing. I didn't lose too much, but enough to discourage me from trading for a while. I notice now they do talk about risk management a little more in their training materials.

The only reason I don't subscribe to their service now is because I like finding and analyzing trading opportunities on my own. When they pan out, I feel all that more gratified.

Regarding front-running in the chat rooms and so on, I really can't speak to that as that service was only just being introduced as I left Pristine. From your statements, it does sound like a rogue advisor got out of hand. Pristine can't really be blamed for that, especially if they took action and removed the offending party.
 
Do not know when you guys tried the services. I tried the trading rooms & seminars recently. It is very good with long, short & options. They have been shorted the market for a long time.

It is good for someone to learn trading thoroughly.
 
interesting - pristine did not display a booth at the online trading expo - maybe velez needed more cash for his new BMW
 
thank you all.. it does seem like they are not any worthwhile people to use.. i can buy many books for $750 :)

what is the meaning, "chinese walls" , somebody says early post?

applause for you all to post, helps me know what means "snake oil" is pristine

i read on amazon review of velez book that he was illegal man, evicted from house, i do not think i trust this man. so, this is why i ask you all about the room they sell - you help me, thanks to you

they have also an "ESP" scanner, is this mind reader gimmick? or another snake oil thing?

sorry if english not so good

there is german daytrade chat room it is free too
 
Having followed the rise of Velez and Pristine for the last couple years, I must agree with majority here who feel Velez is an opportunist and nothing more. Examples of his style can be observed in the newest Pristine video that concerns option trading. There are two places in the video where it was clear to me that Velez is merely adopting the ideas of others and trying to pass them off as his own.

During the first half of the video he discusses the CCI indicator. Very few traders use this indicator. Velez claimed in the video that he has been using it for 8 or 9 years. Yet it was not really covered anywhere until the release of the <I>Systematic Trader</I> video by David Stendahl. Velez is rewriting his past to convince the audience that he is an expert.

A second example in the video occurs where Velez discusses how a stock price reverts to the mean "like a dog on a leash." He stole that analogy from the book, <I>The Day Trader's Guide To Technical Analysis.</I>
 
He was evicted because he lost $ in earlier years, nothing wrong with it. Now he is successful & tell the storyall the time. Every traders learn from others and develop his own style. I think you guys are not being fair. ESP is a software sitting on top of Real Tick to flag setups real time. I use it sometimes & like it.

I do not work for Pristine, just follow its teaching & like it.
 
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