Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

Trader T

Members
  • Content Count

    1
  • Joined

  • Last visited

Personal Information

  • First Name
    TradersLaboratory.com
  • Last Name
    User
  • Country
    United States

Trading Information

  • Vendor
    No
  1. I have a question. I responded to a post and part of my response was not posted. Someone had asked "how does one go about finding an experienced trader to get mentored by". I referred them to IBD (Investor's Business Daily) meetup groups. Why was this part of my reply not posted?

     

    Trader T

  2. I have used their services for about 2 months. I started with a small account. I, like you, realized their commissions were high but thought that if they can make me some good trades, the gains would justify them. My account was down to half within a little over a month. I called to say I was nervous, to ask if the open trades still seemed viable, and I was assured that they were monitoring things closely. My account then lost another half of what the balance was at the time of that call. I asked them to close all trades and they closed one, but left another open. It lost more. I then asked that they no longer "monitor" the trade, that they simply close it out and send me a check for my small remaining account balance. The high commissions were NOT justified. All in all, I lost 40% of my account to high commissions (one options trade cost over $400 in commissions and I lost another few hundred on the trade). My actual trade losses amounted to another 40% and I walked away with 20%. I hope this helps someone. The traders I worked with seemed like nice people ... maybe it's inexperience ... I don't know, but I can't recommend them.
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.