The site is not letting me post a comment.. So this is in response to the review below.
I will start off by saying that during the time this person was a member I made over $70k in realized gains ALL of which were alerted in detail and real time in live chat. Clearly this review is more of a rant than a review at all. To give us the lowest rating possible, there is clearly emotion behind this review or ulterior motive.. also illustrated by the fact that this reviewers account was created today and this his the only review he has made. We are focused in chat everyday. NO off topic nonsense. We alert news/moves before other sites or twitter.. Very professional trading crew.. etc.. If this was an honest review those things would be considered. But this person is entitled to their opinion and I will respect that.
I WOULD like to address some things this reviewer brings up though. I will address them in order that the poster has.
We go by nicknames in chat. I have explained my entire life history to any member that has cared to ask. This member did not ask. Long story short. Graduated college in finance. Internships at CBOE for two years. Worked at Merrill Lynch for 2 two years. Worked on private prop desk trading my own capital for a year. Been working from home through prop firm ever since. This service was started 3 years ago. Paid membership enacted 2 years ago to avoid noobs, pumpers.
This is not a teaching website. I am not selling you learning "DVD's" I am not a "Guru" I am a trader.. A successful one. This is a room for traders. I am not here to hold your hand through every trade I make. If you have questions I will do my best to answer them. We hold a 2-3 hour Q&A every other week.
All set ups I trade are BASIC technical analysis. Flags, pennants, gap fills, support/resistance, breakouts/breakdowns, news, topping/bottoming patterns, bearish/bullish engulfing, parabolics, vwap, triangles, MAs and EMAs, MACD, RSI, etc.. I do not feel the need to explain every pattern I am trading as this SHOULD be common knowledge for traders.
He is right, this room caters to traders who want great trade alerts/ideas. I am not a teacher and I am not going to hold your hand through every single trade I make. Me and the crew alert trades/ideas that can easily make you hundreds and thousands in gains every trade/day if you are a decent trader. Countless trades have moved multiple dollars per share after the alerts.. Stops and risk are ALWAYS suggested to be tight..
I am on skype everyday with around a dozen former coworkers, successful traders, and institutional traders that I know. Yes, we discuss trades and ideas and sometimes I put those ideas in chat. I also post breaking news that I get from them. They are a great bunch and a huge advantage. I have known most of these guys for over 5 years now.
I am 29. Will be 30 in Feb. I have been trading since I was 20. I AM young and a net worth nearing $1M.. Sometimes that irks people.. especially older traders who have not yet found success. I focus on the money made... of course!! I PREACH risk/reward multiple times a day. I don't understand his argument here. Possibly from the fact that this review comes from a member who was only with us for 3 weeks. I look for a minimum of 1:3 risk:reward ratio. Typically I am looking to risk around -$300 for every +$1000. I always try to cut losses tight around $500-$600 max.. and of course sometimes trades get away from me.. they do for everyone. I am trading my OWN account. Traders should trade their OWN account. You are only going lose as much as YOU allow YOURSELF to lose. Nothing makes me more angry than when traders don't take responsibility for their own losses.. then they look for somebody to blame.
Stops get adjust, yes. The more size I add to a position the tighter the stop becomes. Typically by the time I am in full size the stop is at break even which makes the risk ZERO. Every now and then I do ignore a stop when I feel that a trade needs more room. Sometimes this works and sometimes it does not. It is not the norm though. I make mistakes.. Just like EVERY trader.. However, I do not make many and never anything catastrophic. I always preach to take position sizes and set stops that are relevant to your OWN account. Just because I am willing to risk losing $500-$1k on a trade does NOT mean it is appropriate for you to do the same.
In the past 8 MONTHS I have only held 3 stocks overnight. ALL of which ended up being HUGE gainers including a +$16,000 gain on VJET. Again.. I have held THREE stocks overnight in the past 8 months.. I like to be cash at the end of every trading day and 99% of the time I am.
I consider myself to be pretty well disciplined. If I am chasing a stock I use small size. If I am early on a short I will stop out for a small loss and try again.. not sure if this is considered a revenge trade to the poster.. But if I try to short a trade 2-3 times for small losses of a couple hundred bucks.. THEN I nail it for $2-3k.. I consider that as a win.. not a "revenge" trade.. EVERY trade is different.. Some trades are more risk.. I alert if that is the case.. Sometimes I break my rules or get stubborn.. I alert in chat if that is the case.. I do have 3 trades that I am holding in my portfolio from the 1st quarter of the year.. HLF CZR and SPWR.. I have significant losses in these positions.. but in relation to my account size these losses add up to LESS than 15% of my portfolio.. This is why it's important to trade your OWN account and not just blindly follow.. These trade were put on 9 months before this person became a member. Even with the losses mainly from those 3 stocks I am still up over $200k this year and my portfolio continues to grow exponentially.. Again all trades alerted in real time in live chat..
Bottom line, if you don't trade your OWN account and focus on managing your OWN trades you will wipe out your account. This review came from a person who was a member for 3 weeks. We have traders who have been with us since inception and are doing well.. growing their account.. making consistent gains..funding multiple vacations a year from alerts.. etc.. Track record speaks for itself.. 50% of members are annual subscribers.. Retention rate is 80%.. Positive reviews are 95%.. The reviewer did not post one positive thing about our site and gave us the lowest rating possible. Feels more like a personal attack than an unbiased review. The only way to see if you fit in with the crew is to try us out for yourself. I couldn't care less how many members the site has. I am looking for good/successful traders to trade and share ideas with.
This review is the subjective opinion of an Investimonials member and not of Investimonials LLC
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