Thoughts by users of TRADE-IDEAS and SCANZ

[terr]

What is MT? Medvedtrader?

Yes. MT can real-time scan (using as complex a custom logic/combination of indicators as you want) but only the incoming data. Which means the max of 1500 symbols if you are using TDA as the data feed. We have users doing that. A reasonable home computer can easily handle it.

In order to do the same thing on the whole universe of stocks, we would have to get the whole exchange data pipe, which would cost probably on the order of tens of $thousands, run fairly massive servers to process it, and would be able to provide only preprogrammed scans, and not fully customizable ones.

 

[roca]

Yes. MT can real-time scan (using as complex a custom logic/combination of indicators as you want) but only the incoming data. Which means the max of 1500 symbols if you are using TDA as the data feed. We have users doing that. A reasonable home computer can easily handle it.

In order to do the same thing on the whole universe of stocks, we would have to get the whole exchange data pipe, which would cost probably on the order of tens of $thousands, run fairly massive servers to process it, and would be able to provide only preprogrammed scans, and not fully customizable ones.

I see the issue here about it costing a lot to implement that.
I am not a programmer and not sure if it is doable but can't MT do API of a scanner such as let's say TWS or Barchart or any other scanning software then have the scanning results display in MT and then let the users filter the scanning results?

 

[roca]

Ross, The Man! Someone on YouTube tried his services during free trial or something. Afterwards, they contacted her for a testimonial. She said she was turned off by them asking her for a female testimonial when she hadn't even paid for the course. The rep let it slip that Ross and Co take home $2 million/month from all that trading related stuff.
That's how you do it! Who cares if you gain/lose $30k/day trading if you can have that type of steady side income. It's like if someone was trading 1 share size, so little pressure versus having to come up with your rent money every month. These trading "gurus" are smart to do paid training.
Ross knows his stuff (as does Shay, Humbled Trader). But it's a bit disingenuous as most of his students probably thinks he lives on his daytrading profits. If I can make $2 million/mth "teaching" the noobs, then I would trade 1 share lots on my PnL, the occassional home run trade would have them in awe but my goal would be to just break even on my account so that I have "verified" trade results.

But is that 2M$ just for Ross? Because he has a big team behind him

 

[lwlee]

If it was $500k or $2M, it's more than he does day trading. He doesn't have a big team. Most of the time, he's talking alone on his camera.

But is that 2M$ just for Ross? Because he has a big team behind him

 

[roca]

If it was $500k or $2M, it's more than he does day trading. He doesn't have a big team. Most of the time, he's talking alone on his camera.

Yes he still makes more than actual trading. He does have a big marketing team from what others told me maybe around like 20 if I am right

He just makes it look as if it is run only by him to make it look less like a marketing scheme

EDIT: Here it says on LinkedIn 29 employees
https://www.linkedin.com/company/warrior-trading/

 

[lwlee]

29? Much bigger than I thought. Much harder today to "expose" gurus. They do provide good content if you are just starting out. If you push their backs to the wall, they will say it's really all about entertainment and some knowledge. Case in point, Tim Sykes. Have to acknowldge how he has evolved even if it's still scammy. Now he surrounds himself with a bunch of "millionaire students" and makes a ton off his profit.ly website.

Yes he still makes more than actual trading. He does have a big marketing team from what others told me maybe around like 20 if I am right

He just makes it look as if it is run only by him to make it look less like a marketing scheme

EDIT: Here it says on LinkedIn 29 employees
https://www.linkedin.com/company/warrior-trading/

 

[roca]

29? Much bigger than I thought. Much harder today to "expose" gurus. They do provide good content if you are just starting out. If you push their backs to the wall, they will say it's really all about entertainment and some knowledge. Case in point, Tim Sykes. Have to acknowldge how he has evolved even if it's still scammy. Now he surrounds himself with a bunch of "millionaire students" and makes a ton off his profit.ly website.

True that. Tim Sykes though looks like a complete scammer though. At least Ross trades in front of you

EDIT: Some of the LinkedIn employees I think are just retail traders saying they work there but it still is more than 1 man operation

 

[DiabetesBeetus]

So if I'm simply looking for a scanner to list volume with certain amount of float and price restrictions would MT scanner be the much more affordable option?

I've been using Scanz for month but don't think I require any of the full functionality to justify the cost of 80/month.

 

[terr]

DaiabetesBeetus - from what you're saying you're looking for a screener, not a scanner?

That is, you're looking to find a list of stocks that satisfy some criteria, usually based on fundamentals, that do not change in real time?

What MT does is scan its tickers in real time, based on the real time data, using arbitrarily complex logic that you program that utilizes this real time data/indicators. For you that would be overkill...

 

[DiabetesBeetus]

DaiabetesBeetus - from what you're saying you're looking for a screener, not a scanner?

That is, you're looking to find a list of stocks that satisfy some criteria, usually based on fundamentals, that do not change in real time?

What MT does is scan its tickers in real time, based on the real time data, using arbitrarily complex logic that you program that utilizes this real time data/indicators. For you that would be overkill...

Hmmm guess it’s a scanner because of the real-time data (primary volume and price at the moment). Thank you though, guess I pay the premium for Scanz since there’s no coding and it’s just a bunch of simple drop down rules.