The b.s. thread
- Thread starter Kicking
- Start date
As far as CNBC goes, I gave up watching them a long time ago. I used to keep them on during the day for updates on market action, especially around Fed meeting times. What I found was they were so slow to respond to any news, even Fed reports, that the train had left the station by the time CNBC showed up. They served only to cause me to have a bias from listening to their take on things, and I'm trying to be as unbiased these days as possible.
In regard to Briefing.com, the same goes here. I had their basic subscription for awhile, but found it was useless, as the news was so cold by the time they put it out it was ancient history. I check their calendar for the economic reports just to see what's on tap each day, mainly to know what times to watch for market reactions. Again, the less biased I am by "talking heads", the better I trade.
Lastly, I noticed the banner ad for BestDayTrading.com when I logged into ET, and immediately thought TraderBrad had setup a new site! Now, I don't know anything about BDT.com, but I looked at their site to see what their deal was. You can see for yourself, but it's basically the same game: Performance Results with totals, not specific calls (you can read the log for the day, but that is useless; no Free Trial offered that I can see; and of course "All sales are final." Haven't we heard this song before? Did a search here on ET for BDT, but found no matches, so apparently a new gig with no takers yet. Anyone got anything (good, bad, whatever) to say about them?
In regard to Briefing.com, the same goes here. I had their basic subscription for awhile, but found it was useless, as the news was so cold by the time they put it out it was ancient history. I check their calendar for the economic reports just to see what's on tap each day, mainly to know what times to watch for market reactions. Again, the less biased I am by "talking heads", the better I trade.
Lastly, I noticed the banner ad for BestDayTrading.com when I logged into ET, and immediately thought TraderBrad had setup a new site! Now, I don't know anything about BDT.com, but I looked at their site to see what their deal was. You can see for yourself, but it's basically the same game: Performance Results with totals, not specific calls (you can read the log for the day, but that is useless; no Free Trial offered that I can see; and of course "All sales are final." Haven't we heard this song before? Did a search here on ET for BDT, but found no matches, so apparently a new gig with no takers yet. Anyone got anything (good, bad, whatever) to say about them?
If enough people believe the B.S, the stock will move... there are still enough news scalps to be had from CNBC in order to pay the bills... but to get those scalps, you need to have the intestinal fortitude to put up with the bastids' rhetoric for 7 hours a day
http://www.trade2win.co.uk/boards/showthread.php?s=&forumid=16&threadid=7644
"I subscribed to bestdaytrader for a month at its full price ie as a non-trialist. By religiously following Shays instructions I found that the massive profits that Shay claimed were not at all matched by my results. In fact there were no profits at all to speak of. Very often there were times when trades occured using Shays system that resulted in a loss which suprise suprise Shay simply ignored in his results table. Consequently I found their results to be completely inaccurate and misleading which can lead to loss of confidence in their product. Personally I do not equate the services of bestdaytrader with professionalism or accuracy. Of course that is just my independent opinion which one is entitled to express in any true democracy, and one that I would happily defend using watertight evidence in any court on this small planet. (I kept detailed records of all trades recommended during my time with them in a folder- it pays to be meticulous!)
Incidentally I know several people who use the other service mentioned above ie tradewithwaves.com and I have not heard a bad word said about it. Most I spoke to seem to like it. I have not used it myself but I might do so in future.
Hope the above helps and I would not want anyone to waste their money like I did".
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"Clayidus
I had a free trial in the Shay room some months ago.
There are often 5 - 8 trades open at once so the funding requirement if trading 1000shares per trade would be massive.
When you chat to others in the room, via the IRC chat system, you find they don't take many of the trades 'cos they don't have that much confidence in his ability and the member turnover is high. I'm sure some pay just for the company!
Some of his calls looked so bad with just a quick look at my charts that some I could predict with near certainty would fail, and most of those then did just that.
He definitely doesn't like it if anyone questions him about a trade on the room screen and gets very touchy - he say's to ask via his Irc, so other members can't see what he is being questioned on.
He's quite happy to talk about the ins and outs of a good trade though.
That is my experience - yours might be different.
Good luck"