Realitytrader Index Trading Room

Originally posted by AAAintheBeltway
Is that the guy who posts here as AllenZ? He seems to make sense here but I've never followed the room.
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Yes AllenZ is the one who runs that room.
 
I just posted a link to his track record on another thread. You can find it on the site. It tells the whole story. I like Allen because he plays it straight. I think you get a realistic picture of what trading is all about. You lose about half the time but you win more than you lose. You have to have the patience to hang in there and let the law of averages work for you.
 
I hope to 1. make money and 2. learn how to trade the nsdq futures in this chatroom. Any comments on these objectives? I know that the returns are good- avg. about 15% a month for this year for futures, which of course would be more than enough.
 
This reply that I am making has been made more than once for every newbie trader who thinks he will get rich by following orders and punching buttons. In a way, it's really stupid of me to post a response. I make money on the QQQ, and I am not really sure where that money comes from - it's likely that at least some of that money comes from losers who like to follow orders and press buttons (and think they can get rich). I'd like to take this moment and thank them, I'm sure others feel the same way.

But, I have received good info from this board, so I should contribute a little. So here is my sole contribution:

If *you* had a way to consistently make money from the markets, would *you* concentrate on that (and scale up), or would *you* sell your idea to others, thus making it worthless?

Thank you for your time. There will be no responses to all the posts about everyone's favorite guru or stock picker or whatever. I'm sure that anybody that believes in somebody is doing the right thing and will eventually make money - you just need more capital.
 
It is amazing that when one posts a simple question about somebody's track record, there is some "experienced trader" that 1. feels compelled to enlighten the newbie about following others versus doing it yourself and 2. has the emotional need to "hint" that he is making a lot of money WITHOUT a chatroom. Who cares?

I did not ask your advice about how to become a superior trader or how to improve myself as a human being or about your opinion about my psyche, and I don't need it. If you want to tell the board that you are not a newbie and that you make a lot of money trading the QQQ, just start a new thread titled "I am an experienced trader and I make a lot of money- who wants to hear it?".
 
I have checked out the trading room before. I believe it's a great atmosphere for education and developing the right mindset for the newbie trader. Allen actually makes well-paced QQQ calls in the room (around 4-7 RT per day) a day and keeps relatively tight stops which will ensure that you have the best chance of survival through the learning curve. His posted track record is real as though he trades the NQ along side his calls he checks with other members to see what their actual QQQ fills are before marking them down. In summary, I believe it is a suitable room for starting traders bc:

1. Good pace prevents overtrading (common mistake for newbies)

2. Low risk trades

3. Solid setups that are quite easily learnt (will take time to master as with anything though)

4. Easygoing atmosphere, questions are encouraged

5. The track record shown is very realistic as to what you can expect if you follow him.

Just my thoughts, hope it helps.
 
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