Independent Review of WallStreet1928

This is a discussion on Independent Review of WallStreet1928 within the General Trading Chat forums, part of the Reception category; My tuppence (not an averaged tuppence, nor 1/3 or 2/3 of a tuppence, nay even a spread 'twixt tuppence and ...

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Old Dec 2, 2011, 2:18pm   #441
 
Mr. G's Avatar
Joined Feb 2004
Re: Independent Review of WallStreet1928

My tuppence (not an averaged tuppence, nor 1/3 or 2/3 of a tuppence, nay even a spread 'twixt tuppence and sixpence, but a whole, at-the-market tuppence) on this debate for anyone who cares to read:

I believe WS is genuinely trying to help people with reading and understanding the markets and some (most?) of his inter-market analysis is insightful, accurate and useful. It, I'm sure, can be used to trade successfully. He doesn't appear to have ulterior motives when compared to others both on and off of this forum that sell 'services' of one description or another; he seems willing to share his time freely and without commitment. I am not, nor have I been, a subscriber to his service but get the sense, through PMs with him in the past, that it could be a useful learning tool - after all, I've probably spent more than 6 months worth of subscriptions on trading books over the years.

That said, and from my perspective this is the crux of the debate, WS does seem to 'dodge' a number of questions that require binary answers. Talking as someone who works for an IB, and notwithstanding the fact that most IB traders are a bunch of egotistical tw*ts, I would expect that when a question is asked a simple answer is given rather than referring to previous answers, questioning the understanding of the questioner, and so on. It is this type of reaction that creates doubt and uncertainty in people's minds.

At the end of the day, everyone is free to make their own decisions (apart from me, the current Mrs. G tells me!) and a £50 punt on the service doesn't seem the worst thing anyone could do in order to see if they can get benefit from it. Arguably, someone could blow their account up as a result but I would venture that if someone needs to subscribe to a service and then blindly follow it they are likely to blow their account anyway, irrespective of who's service they are buying.

So, if WS really wants kudos/recognition/praise (or whichever other non-egotistical word he would prefer) then, in my opinion, he needs to be clear on exactly what he is doing and how he describes it. When I talk to my traders, that is what I get - clear answers to clear questions - and I expect nothing less as confusion leads to losses.

Eschew obfuscation!

Good thread btw; opinions are what make a market.
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Old Dec 2, 2011, 2:19pm   #442
Joined Aug 2008
Re: Independent Review of WallStreet1928

MajorDutch started this thread
Quote:
Originally Posted by the hare View Post
Thanks for that, its a genuinely useful facility (other than it being provided by CMC). I'm sure that somewhere in his thread, the issue of who he's trading with has been raised and discusssed.

If he has access to fractional pricing why cant he simply say, my broker offers fractional pricing. The real issue isnt about how many lots he closes, the issue is trying to understand how he eventually ends up at a pip count.

It doesnt really matter how he does it, as long as its fully disclosed, and applied consistently to winners and losers. The fact that he simply wont answer such a simple question is the reason that he's under fire.

I gave a hypothetical scenario, 2 lots at +40 and and 1 lot at +60. Rather than simply type a number such as +48, or +140 he waffles on for pages and pages avoiding the question, and redirecting people to a thread almost 2500 pages in length.

He cant really expect to be treated with respect when he plays these types of games.
he has stated before that he trades with IG markets and CMC.

it's a fair question which should be answered imo.
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Old Dec 2, 2011, 3:18pm   #443
Joined Oct 2008
Re: Independent Review of WallStreet1928

Finally ..........I kept my word and exceeded target


FTSe , euro and nasdaq shorts closed + 70

+ 520 points for the week

I thank my Lord for his endless blessings
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Old Dec 2, 2011, 3:46pm   #444
Joined Oct 2008
Re: Independent Review of WallStreet1928

last 1/3 ftse, euro and nasdaq closed + 130 points

what an amazing week folks

unbelievable results !

I have promised my students to hit + 700 points each week now until Xmas .......consider it an Xmas gift !!
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Old Dec 2, 2011, 3:49pm   #445
 
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Joined Nov 2007
Re: Independent Review of WallStreet1928

Go spam your thread if you can't answer basic questions. This is an Independent review and you don't seem to be adding anything constructive by way of helping us understand your creative accounting. You should never have posted here to start.
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Old Dec 2, 2011, 3:53pm   #446
Joined Oct 2008
Re: Independent Review of WallStreet1928

Quote:
Originally Posted by Masquerade View Post
Go spam your thread if you can't answer basic questions. This is an Independent review and you don't seem to be adding anything constructive by way of helping us understand your creative accounting. You should never have posted here to start.
"I am short eur/usd from 1.3522

Wallstreet1928
12:49 PM (2 hours ago)

upto 1.3532

avg = 1.3527

stop loss = 1.36

tgt = 1.34 region "


"i am short ftse from 5582... euro closed b/e - as always b/e stop when + 10!!

ftse short upto 5592

avg = 5587

stop loss = 5637


tgt = 5500 "


"short nasdaq upto 2343 ,

avg = 2338

stop loss = 2368

tgt = 2318 , 2308 "


Dutch and skak one will confirm these trades and that all entrys were met ???
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Old Dec 2, 2011, 3:56pm   #447
Joined Oct 2008
Re: Independent Review of WallStreet1928

I am willing to give my mobile number to anyone who is willing to ring me and discuss my trading with me.

I am willing to clarify all issues that you have ?

I have given a comprehensive answer to every question posted ??

PM me and I will give you my mobile number

I am playing football @ 8pm and then going for meal with a client @ 21.30 !!

Thereafter I will be free
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Old Dec 2, 2011, 4:02pm   #448
Joined Apr 2006
Re: Independent Review of WallStreet1928

Quote:
Originally Posted by wallstreet1928 View Post
I have given a comprehensive answer to every question posted ??
No you have not. You have avoided every single question asked to date (including poor Barjon's who hopefully isnt holding his breath as he'd be dead days ago)

If I ring you and ask how many pips you made if you closed 3 lots at + 40, and 2 lots at +60, will you answer ?

I would require a single numeric answer. No explanations or jutifications necessary, just a simple one word numeric answer.
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Old Dec 2, 2011, 4:05pm   #449
Joined Oct 2008
Re: Independent Review of WallStreet1928

Quote:
Originally Posted by wallstreet1928 View Post
Hello my friend ........my fingers have had some rest , so here we go !!

I will start by saying that i come from an academic background ..A levels and Economics degree at Manchester. I AM IN NO WAY ATTEMPTING TO PATRONISE YOU !! The concept I am going to explain is common sense, please dont take this a bad way but I think a lot of people on trade2win do not have any formal qualifications. A lot of traders on trade2win sound like punters turned traders who think they are betting on a horse...hence some very immature/childish remarks. I am 29 yrs old and I honestly feel like a grandfather on here at times due to childish comments I hear that lack any form of logic.

OK let me start by explaining the concept of market tops and bottoms because i honestly dont understand your level of intelligence. I have to assume you are beginners, because the questions you are putting forward would only come from a novice. The experienced traders on here understand where I am coming from and have sent numerous messages of appreciation.

The best trader in the world cant catch a top/bottom in a market but what he can do is spread his entry positions in order to get a good average. This is what Nicholas Santiago/Gareth Soloway do at Inthemoneystocks.com, this is something they have taught me to do.

The chart explains the concept of averaging into a position, thereby increases your chances of an optimal entry. So for example if you trade at £10 a point , rather than enter full £10 @ 5510 , I would enter £2 a time @ 5510 , 5505, 5500 ,5506, 5514 = avg 5507 = optimal entry given the volatility in the market place.

I did A - Level mathematics at college, and trust me when you do stats 1, 2,3 and mechnanics 1,2,3......the concept of getting a smooth average is very important.

The chart explains the concept of averaging into a long and short

so lets deal with the different scenarios

Scenario 1 : I am long ftse from 5510 - 5500 ..avg = 5505 , stop loss = 5475 , tgt = 5535 , 5545, 5555

I trade 4/5 contracts on average

I go long from 5510 and average in upto 5500 as price goes to 5499 ..I managed to average all 5 contracts. i start with 2 contracts and then go long 1 contract a time anywhere in that region until i get 5 contracts long

avg = 5505

stop loss always remains stagnant @ 5475

market rally 5520

stop loss now amended to b/e , all risk reduced from trade

market moves to 5540

and i knock off 2/3 for +40 , then last 1/3 left b/e

market moves to 5560 , then last 1/3 closed + 60

I honestly can't believe I am doing this , as it is common sense !! I'm just shocked that I have to explain this .....Traders are supposed to be sharp people


Scenario 2 : I am long ftse from 5510 - 5500 ..avg = 5505 , stop loss = 5475 , tgt = 5535 , 5545, 5555

I go long from 5510 and average in upto 5505 as price only goes to 5504, I have only managed to fill 3 contracts before market moves higher to 5514-5515. I then check my variables and see that market is not moving lower therefore I add the other 2 contracts @ 5514 and 5512

avg = 5510

stop loss always remains stagnant @ 5475

market rally to 5525

stop loss now ameneded to b/e , all risk reduced from trade

market moves to 5535

and i knock off 2/3 for +25 , then last 1/3 left b/e

market moves to 5560 , then last 1/3 closed + 50


Scenario 3 : I am short ftse from 5500 - 5510 ..avg = 5505 , stop loss = 5535 , tgt = 5475, 5465 , 5455

I go short from 5500 and average in upto 5515 as price spiked higher to 5517, I manage to get all 5 fills.

avg = 5512

stop loss always remains stagnant @ 5535

market sells off to 5495 , stop loss now amended to b/e

market sells off to 5482 , knock off 2/3 + 30 , last 1/3 b/e

market rally back upto 5512 = last 1/3 runner closed b/e



Scenario 4 : I am short ftse from 5500 - 5510 ..avg = 5505 , stop loss = 5535 , tgt = 5475, 5465 , 5455

I go short from 5500 and market drops immediately .......i check my variables and they are all showing immense weakness therefore i add my remaining shorts @ 5497 , 95, 94

avg = 5496

stop loss always remains stagnant @ 5535

market sells off to 5480 , stop loss now amended to b/e

market sells off to 5470 , knock off 2/3 + 26 , last 1/3 b/e

market sells off further to 5450 , last 1/3 closed + 46


and that is how I trade folks...I have explained all the scenarios to you !!


A classic example was today on FTSE ....live trade called in the morning on this thread ... long ftse from 5510 - 5500

I got in @ 5510 , 5505, 5501, 5496 , 5490

avg = 5502

stop loss remains stagnant @ 5465

market rally to 5535 , closed + 32

The whole concept here is that I identify a zone ......one can enter anywhere in that zone , but if one can get a smooth average in that zone it is better as it gives you an optimal entry. The choice is yours as a student ?

I am not here to hold your hand or tell you what level to buy exactly to the pip ??
That is what a signal service does ??? I am not a signal service , I am alive analysis service. I am telling you what I am doing on my trading account and where I am entering.

80% of time I am able to enter calmly and catch any false spikes and get a very good average.

This wide 10 point window entry then allows me to account for different broker spreads , volatility , time delays etc etc. So its a double benefit for me due to optimal entry and for students as they are able to get into trade if they wish.

I hope that clarifies my trading style.......this style is based on a high level of accuracy , my accuracy = > 90% so I am fine to trade it.


My service is called "Live Analysis service" . not signal service. I send out my entry area, with stop loss and exit in real time. I then explain in advance which way i expect the market to move based on intermarket analysis and fundamental news flow, this allows the student to learn in a practical way. I then send TA and FA arguments via email explaining why the market is expected to move higher/lower ...........

The markets hits my target ............I send out text to say i have taken profit and students can do whatever they want with that information. If they choose to follow, they do so at there own risk.

My job is to explain why the market is moving in real time .......I highlight all the variables they need to observe and learn in order to trade independently.

I empower my students by showing them how i do it in real time ???

My neck is on the line on every trade , every day , every week ???

I lead by example and then they follow and learn like a car driving lesson ??


Now tell me if i am ripping people off by charging them a small fee which is peanuts given the cost of learning/courses in this industry that go up to the thousands !!


For just £50 a month for a few months i can certainly make them an accomplished successful trader with a firm grounding of the stockmarket ???
incorrect once again my friend

I have answered barjons question comprehensively , it took me over an hour to type that out whilst watching test cricket Aus V New zealand @ 3am ??

Barjon can you confirm that the answer above is sufficient for you ?
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Old Dec 2, 2011, 4:41pm   #450
 
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Joined May 2003
Re: Independent Review of WallStreet1928

Quote:
Originally Posted by wallstreet1928 View Post

....Barjon can you confirm that the answer above is sufficient for you.... ?
Since you ask - no I can't. It makes no sense to me at all.

Take your scenario 1.

You have 5 separate 1 contract trades bundled into a single 5 contract trade with an average price of 5505.

You say price moves to 5540 where you exit 2/3 for + 40.

+40 where does that come from? Price has moved + 35 from your average price so if you are going to work from your average rather than adding up what happened to 3 separate contracts plus 1/3 of another one (if you can trade that one fractionally) entered at different prices then the point return sum is:

(5540 - 5505) x (5x2/3) = 116.66

Price then goes to 5560 +55 from average price. (you 1/3 for + 60?). The point return sum is:

(5560 - 5505) x (5x1/3) = 91.66

This makes a total point return of 208.32 which looks very nice compared to your 100 but the sting in the tail is that if it was an unsuccessful trade your stop-loss of -30 would have been a total loss of -150. That gives you a 1.39 R:R on this successful scenario 1 trade.

'Course my simple maths might be well up the spout and I apologise in advance if it is.
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