I disagree. I think the plan B option is to become an investor, I think there is no part time trader option. If you want to be a trader, then you want to do this full time, otherwise you shouldn't. Since more than 92% of all traders lose money, this is not something to dabble in. Investing however, is great for dabblers.
Which real live future trading room I should choose?
- Thread starter Affecto
- Start date
- Status
Ideally I would like to swing trade the futures and catch some big moves in my favor, but the problem is that I've gotten my head handed to me if it went the wrong way. I was too bearish during the rally.
Perhaps my best bet is to only swing trade if I happen to catch a good entry during the day and if it continues in my direction, I could keep the position overnight if I think it's worth the risk, and trail a stop behind it.
Perhaps my best bet is to only swing trade if I happen to catch a good entry during the day and if it continues in my direction, I could keep the position overnight if I think it's worth the risk, and trail a stop behind it.
Quote from joe4422:
Hey Leela,
Norrin's been a big help for me. You noticed on Friday he bought right off the open , and then switched to SDS and sold the ES right near the top of the day. and like you said, he explains each entry and give plenty of time to enter. The other nice thing about his calls is that he looks for extended moves, not quick scalps. But he does classify his trades into three groups:
tag along trades
Day trades
and hot potato trades
I know it sounds funny, but it's for a different style. The tag along trades are trades that all newbies can follow easily. He says that if you want to make money, just trade the tag along. Those are far less frequent, but consistently profitable. On Monday we bought DDM at the open, and shorted SNE at the open on Tuesday. He gives very exact entry, exits, etc...
ES tag along trades are starting next week.
Day trades are intraday ES or FAS, SDS, etc.. trades that are set up for potential extended moves.
Hot potato trades are quicker scalps designed to quickly get into a free trade, and then hold for an extended target. These are small position size, small stop loss, and are not as clearly explained as they are usually entered quickly off of something that has happened in the pit.
Well, there's my plug.
The room we're talking about is :
http://www.sandp500analyst.com
Tell him you heard from joe4422, and maybe I'll get a free month
The guy is now asking $500/mo for his tag along trades. Way too high a fee for a new kid on the block.
He might had a good month by chance. Now he think he is some superstar guru. May be he is good - but still unproven. Not paying $500 to follow trades blindly - even with his so called "money back guarantee" as one may well lose 5k or more to get a free month back.
Remember, losses are all yours.
One more concern I have with the $500/mo room with "money back guarantee" is that Norrin may make risky calls trying not to give back the $500 fee he has collected if he has not make that much the first week or two.
The $150/room may still be there. He may not call all the trades that he would otherwise call there in an effort to get more 500$ subscribers to the new room!
The 150 room now gets the bones. may be one ES trade a day, may be none.
It is a conflict interest to have two rooms with the same instrument at different prices. Unless they are run by 2 different mentors.
Running 2 rooms, Norrin's attention will be divided, not only he has to watch the market for entries and exits, but that he would also have to decide if he is going to call a trade in the cheaper room or save the best calls only the the expensive room.
The $150/mo room may well go to the dogs - for futures traders.
Yep,been there done that with the "multiple rooms run by 1 mentor.
Total conflict of interest IMHO.
Total conflict of interest IMHO.
Quote from joe4422:
Hey Leela,
Norrin's been a big help for me. You noticed on Friday he bought right off the open , and then switched to SDS and sold the ES right near the top of the day. and like you said, he explains each entry and give plenty of time to enter. The other nice thing about his calls is that he looks for extended moves, not quick scalps. But he does classify his trades into three groups:
tag along trades
Day trades
and hot potato trades
I know it sounds funny, but it's for a different style. The tag along trades are trades that all newbies can follow easily. He says that if you want to make money, just trade the tag along. Those are far less frequent, but consistently profitable. On Monday we bought DDM at the open, and shorted SNE at the open on Tuesday. He gives very exact entry, exits, etc...
ES tag along trades are starting next week.
Day trades are intraday ES or FAS, SDS, etc.. trades that are set up for potential extended moves.
Hot potato trades are quicker scalps designed to quickly get into a free trade, and then hold for an extended target. These are small position size, small stop loss, and are not as clearly explained as they are usually entered quickly off of something that has happened in the pit.
Well, there's my plug.
The room we're talking about is :
http://www.sandp500analyst.com
Tell him you heard from joe4422, and maybe I'll get a free month
WAW... this is amazing :eek:
This guy (Norrin) was for free until 11 May 2009, then when he started the room I think exactly 11 May, it was just for 50$ with very bad techincal setup!!
Then he put it for 100 the next month and now its 500$! WAW even piny stocks dont double 10 times in 6 months only! I wonder when his sell off will start
The question is, how good he has to be to charge 5 times Rockwell trading gurus (who charge only 97$) to show you their DOM entries and exits live !!!
Bring it on guys... this is getting hot here
Quote from Affecto:
WAW... this is amazing :eek:
This guy (Norrin) was for free until 11 May 2009, then when he started the room I think exactly 11 May, it was just for 50$ with very bad techincal setup!!
Then he put it for 100 the next month and now its 500$! WAW even piny stocks dont double 10 times in 6 months only! I wonder when his sell off will start
The question is, how good he has to be to charge 5 times Rockwell trading gurus (who charge only 97$) to show you their DOM entries and exits live !!!
Bring it on guys... this is getting hot here
He "guarantees" over 5k in profit for your 10k account minimum. An over 50% return for the month or the $500 fee back. lol
I wonder how big a draw down and how many contracts per trade the subscriber is expected to take get that that result.
- Status