I don't normally write reviews, but felt I had to after the most recent advice.
So Chris is feeling upset and emotional for missing out on the big dip, so he's really keen on loading up on a short so he doesn't get caught out next time. So he advises people to open a short with a stop 3% away. Fair enough, he's giving a recommendation based on his gut feeling, even though it kinda feels like he's partly basing this on emotion. But still, he tells people to put in a small amount because it's not that great a trade.
When the ECB spoke and announced that they'll do whatever it takes to save the euro, you'd have thought Chris would realise how big an impact this would have on the markets. Even though he might have been sceptical and not have advised on longs at that point, he should've at least known that shorts are a bad idea. But no, he held on.
The rally continues, and now the S&P is hovering close to our stops. Chris removes his stops because he still like the trade. So understandably, his followers would remove stops and continue to follow his advice. S&P rallies some more, and he doubles up on his position, only for the reason that S&P has gone up about 20 points from when he opened it so that's when he adds to his position.
The funny thing is, last Thursday he was predicting that S&|P will rally on Friday, and then gap up on Monday. SO BASICALLY HE WAS SAYING THAT THE TRADER IN HIM WAS SAYING S&P WOULD RALLY FOR AT LEAST 2 MORE DAYS, YET INSTEAD OF CLOSING HIS SHORT, HE DOUBLED UP ON IT!!!
And now he's changed his stops so that they're 100 points away on the S&P from where his average position is from. Can you imagine it - a 100 point stop!!!! I usually trade the Dow, and that would be the equivalent of roughly a 1,000 point stop. Losing 1,000 points on the Dow is just madness!!!!!!
This review is the subjective opinion of an Investimonials member and not of Investimonials LLC
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