80% of Profitable Trades?

[bulltraders 10]

Hi,

 

I am new to trading and I am looking for the best services that fits my need as a newbie trader. I am considering to use sp500-trading.com since I heard that 80% of their trades are profitable. Please advice if you have better ideas.

 

Thanks!

[TheNegotiator 13]

Hahaha! Excuse me I apologise. If anyone tells you that they are placing trades and they are 80% profitable they are probably not being entirely honest. They may omit certain trades. They may include trades they didn't take. 2 major, major points for you to consider though. Even if someone IS 80% profitable, could you actually follow them? I think it's pretty unlikely but you could try. If you do go into these rooms or go to seminars etc., without any prior knowledge of trading, how do you know whether what you're being told is any good at all???? Consider your options extremely carefully. Imo don't go near the website you mention or any other trading rooms, certainly not as a noob anyway.

Edited May 8, 2011 by TheNegotiator

[MightyMouse 12]

Hahaha! Excuse me I apologise. If anyone tells you that they are placing trades and they are 80% profitable they are probably not being entirely honest. They may omit certain trades. They may include trades they didn't take. 2 major, major points for you to consider though. Even if someone IS 8-% profitable, could you actually follow them? I think it's pretty unlikely but you could try. If you do go into these rooms or go to seminars etc., without any prior knowledge of trading, how do you know whether what you're being told is any good at all???? Consider your options extremely carefully. Imo don't go near the website you mention or any other trading rooms, certainly not as a noob anyway.

 

Negotiator,

 

One can code a random strategy to take 2 ticks and risk 6 and you will likely breakeven, but it will be 80% profitable. He will break even, only if he does not jump the system. Breaking even would explain why he has to sell the system to make money.

 

On the other hand, he could be completely full of shit and playing into the naivete of a dreaming trader.

 

And, when I consider only my profitable trades, my trades are 100% profitable so 80% isn't that good.

 

MM

[Tradewinds 12]

This is an interesting subject for me, because I was just thinking about how I could create a trading room that would call trades live. But I would give people a free one month trial, to decide whether it was worth anything to them or not. Then, I would charge a lot more than $39 dollars a month if the system was actually worth anything.

 

The very first thing I would concern myself with, is giving out personal information. $39 dollars for a month isn't a big risk, but it's a risk giving out your credit card number, and your personal information. If I were trying to convince someone that I was a legitimate business, I would have an address and phone number on the web page. This web page does not have that. You don't know where they are operating from, or how to contact them other than email. And the email address is an email address to the website, not a regular email address.

 

If you give them your credit card information, and then you want to discontinue their services, how do you do that? If they ask you to sign up for automatic renewal, and that's the only option, I would never do that.

 

Here is part of the disclaimer:

 

You can cancel your subscription at any time through your Pay Pal account.DISCLAIMER: By subscribing you acknowledge that you have read, understand, and agree to accept them. NOTE: sp500-trading.com is operated on the internet by sp500-trading.com SUBSCRIPTIONS AND BILLING: Your subscription will continue until you cancel your subscription or until terminated by sp500-trading.com. sp500-trading.com ; reserve the right to deny service to anyone.Submission of an order form grants sp500-trading.com ; authorisation to charge your (subscriber's) credit card for the cost of ongoing membership.

 

It states that your subscription will continue until you cancel it. I don't like that situation at all. It also states that you can cancel through your PayPal account. I have used PayPal, but I'm not really that familiar with it. I'd make sure that was true.

 

This is also part of the disclaimer:

 

This information is not meant or intended (and should not be used) for the purpose of investing in any of the above investment vehicles in any way whatsoever.

 

Okay, so the disclaimer is telling you not to use your subscription for trading.

[AuctionMarket_Trader 10]

This is an interesting subject for me, because I was just thinking about how I could create a trading room that would call trades live. But I would give people a free one month trial, to decide whether it was worth anything to them or not. Then, I would charge a lot more than $39 dollars a month if the system was actually worth anything.

 

The very first thing I would concern myself with, is giving out personal information. $39 dollars for a month isn't a big risk, but it's a risk giving out your credit card number, and your personal information. If I were trying to convince someone that I was a legitimate business, I would have an address and phone number on the web page. This web page does not have that. You don't know where they are operating from, or how to contact them other than email. And the email address is an email address to the website, not a regular email address.

 

If you give them your credit card information, and then you want to discontinue their services, how do you do that? If they ask you to sign up for automatic renewal, and that's the only option, I would never do that.

 

Here is part of the disclaimer:

 

You can cancel your subscription at any time through your Pay Pal account.DISCLAIMER: By subscribing you acknowledge that you have read, understand, and agree to accept them. NOTE: sp500-trading.com is operated on the internet by sp500-trading.com SUBSCRIPTIONS AND BILLING: Your subscription will continue until you cancel your subscription or until terminated by sp500-trading.com. sp500-trading.com ; reserve the right to deny service to anyone.Submission of an order form grants sp500-trading.com ; authorisation to charge your (subscriber's) credit card for the cost of ongoing membership.

 

It states that your subscription will continue until you cancel it. I don't like that situation at all. It also states that you can cancel through your PayPal account. I have used PayPal, but I'm not really that familiar with it. I'd make sure that was true.

 

This is also part of the disclaimer:

 

This information is not meant or intended (and should not be used) for the purpose of investing in any of the above investment vehicles in any way whatsoever.

 

Okay, so the disclaimer is telling you not to use your subscription for trading.

 

 

I would want a room were the person shows his dom with a live account and real money... you know people can make magic on sim .....

[Tradewinds 12]

I would want a room were the person shows his dom with a live account and real money... you know people can make magic on sim .....

 

Absolutely. I wouldn't want my account number, or user name to be showing in the live broadcast, but other than that, show the live account. Something could probably be used to block the user name and account number on the live account.

 

The key is to have a business model that provides a good balance between what the customer gets and what the business owner gets.

 

I wonder if a brokerage firm is allowed to also be affiliated with an investment advisory service? If the brokerage firm was providing the trading room, the trading room could restrict the users of the trading room to people who had an open account. That way the trading room could keep track of who had already used their free trial. Otherwise people could just sign up for free trials over and over again. The free trial could be limited to a certain email address, but then people could just sign up for new email addresses.

 

I'm trying to think up a way that a trading room, or service could provide a free trial without people exploiting the business model, and make it fair, but well controlled.

[longnshortofit 10]

Regarding your hesitation in giving CC details:

 

PayPal is about as safe as you can get. I use it for subscribers for my Charting products.

 

I never see the subscriber's CC details, only PayPal does.

 

Every time a user makes a payment, PayPal sends them an email and in that email is detailed instructions on how to cancel their subscription.

 

Your CC details are at far more risk when you hand your card to the waitperson at a restaurant!

 

Gordon

[TheNegotiator 13]

Negotiator,

 

One can code a random strategy to take 2 ticks and risk 6 and you will likely breakeven, but it will be 80% profitable. He will break even, only if he does not jump the system. Breaking even would explain why he has to sell the system to make money.

 

On the other hand, he could be completely full of shit and playing into the naivete of a dreaming trader.

 

And, when I consider only my profitable trades, my trades are 100% profitable so 80% isn't that good.

 

MM

 

If anyone tells you that they are placing trades and they are 80% profitable they are probably not being entirely honest.

 

Indeed. Hence the not being entirely honest comment.

 

"There are lies, damned lies, and statistics"