Day Trading & Forex Forum

theace

Anybody ever tried out www.bestdaytrader.com which is also known as www.shoguntrading.com? It is run by a guy named Shay Horowitz who runs a real-time day trading chat room for members where he gives his calls throughout the day. He claims his chatroom consistently earns around $1,749 profit PER DAY on $25,000 capital. His records on the site show a daily profit for the chat room stretching back a year. Anyone know whether he is legitimate?

Although I tend to believe real-time chat rooms are a scam, but then, there must be talented traders in the world, who are the best at what they do, like you get brilliant footballers/musicians etc. So why is it not possible that they could operate a chat room so you earn based on their judgements?

Also, I know people say ``If he is making a killing with his programme, why would he share it? Wouldn’t that affect his potential income?” and that’s a good point, but on Shay’s site he is making like 20-40 calls a day, and its impossible for everyone to take all the calls with $25k capital, so he’s not really harming his earnings since people will take different calls.

BTW, I have a URL which he normally gives out only once you become a member. But basically, there is a trading video your supposed to watch before you enter his chat room. It’s like a training video and explains his sytem. You can download it via ISDN or Broadband. Please view it and let me know if it makes his programme seem at all feasible and not a scam.

http://www.bestdaytrader.com/welcometochat.php/
Opinions please. Thanks.

Also, www.tradewithwaves.com also runs a real-time chatroom with a daytrader named Kevin ‘G-Man’ Goldberg making real-time calls. It claims profits of around $11,000 per day. Anyone tried this one out? From what I gather G-Man used to work in a real-time chatroom for www.lazytrader.com He does have some respectable reports on the site, notably about his previous tutor programme ‘Bandit Unversity’. CNBC reviewed it, and this review is shown on the tradewithwaves site.

stevet

get a free trial and then use the profit to then pay for the chat room membership ( since he is so sure you will make money, this would be the best way for him to operate the chat room as there is no downside for you or for him)

if he wont do a free trial and you have to pay to see if it works - that should be giving you a big fat message about the validity of his claims

and if his defense for that stand is that if he gave you the the money making calls - it is not his fault that you dont use them correctly - then he would be wrong -because you would not be joining his site to get the calls - but to make money from the calls - so it is up to him to make sure you do make money

but as he is so sure of your opportunity for success - i am sure he will give you the free time to access his service - then there is no downside for you or for him

there were people who just give out different calls to the people who joined the service -on the basis that there was a 50/50 chance that someone would get a good call - and those 50% would then join the service etc - but as this is a chat room - i guess there would only be one set of calls?

theace

Steve, since this is a chatroom, everybody gets just one set of calls. I was asking these types of questions to his live help service yesterday, and they said they don't give free trials because they want to concentrate the service on paying members only. But the live help person urged me to check out the following URL, because it contains a years worth of chat transcripts from their daily chat sessions. I have read a few, and it seems as though the customers are pleased with his calls.

Steve, since your a veteran, could you please check out the video link I provided in the previous message and review its legitimacy? Because I am only a novice and need all the help I can get!

DT

Ok i'm not an experieced trader, just a cynical novice but I think you may have answered your own question.

who are the people who make $1,749 profit per day?

would those be the ones who got thier crystal balls out and selected the handfull of calls out of the 40 suggested that actually made money.

If you can't actually follow every call the guy makes then how can he make any claim as to how profitable you will be unless the claimed profits he is posting are purely theorectical.

stevet

i have a feeling that people who are selling a service are unlikly to send you to something which is negative

and i think that a years worth of transcripts is just a bunch of type - nothing more -nothing less - did genuine 3rd party people type it - who are they - etc etc?

if they genuinely make 1700 each day for people - why not let you in for free and then you can pay them a week later out of your 8500 - no downside for them and they would not have to field queries like we are doing

what do they charge anyway - 10 bucks a month?

ps i am not that up on chat room technology - but why could they not have a bunch of different chat rooms issuing different calls - how would you know when you are logging on if there was more than one chat room

neil

http://www.elitetrader.com/vb/search...der=descending

http://www.elitetrader.com/vb/search...der=descending

__________________
neil
Education is an admirable thing but it is well to remember, from time to time, that nothing that is worth knowing can be taught.
(Oscar Wilde)

Dave1971

I've had a look and they want you to sign up for $199 per month. The site says "Potential profit....not based on actual trades". I think that says it all, I would only consider following any such service if the vendor was actually trading with you.

Big potential profits are one thing actually realising them is another. I am sure many contributors to this site could apply a scattergun approach and from 40 trades in a day show one that made a 2-5% return, what about the other 39?

Or on the other hand if the claimed results are the average returns over the 40 trades then that is a bit more impressive, but who can execute and properly monitor 40 trades at once?

Maybe someone who has looked into it a bit deeper or who actually subscribes has an opposing view, and I await thier post with interest.

stevet

mmmm - i have heard of real profits based on real trades - but "potential profit not based on actual trades" dont sound like you will be out buying the ferrari too soon!