Review of FTSEDay.com

[stillawake]

I was just thinking this morning that despite all my moans about Mike's lack of detailed record-keeping, he did really help put me on the right path. He's traded 7 or 8 years on the FTSE, you don't spend that much time immersed in one market without developing some sort of instinct, which is certainly what he has, he doesn't get it right all the time, no-one does, but his confidence on 'his' market means he can keep his stops out of the way.

I wouldn't be where I am now without Mike's help and that's a fact (Mike you owe me, lol!).

 

[MrStopLoss]

Record keeping is one thing, how about his blatant lies like in my screen shot?

 

[MrStopLoss]

Check out his private Twitter feed (top to bottom left to right). It's incoherent babble. How anyone would continue to pay for this is beyond me.

Checkout the highlighted box. He says he was long from 6400 today even though the market hasn't been there today. He then 'scales in' at 62 and apparently gets out for 0.

Compulsive liar.

 

[stillawake]

Check out his private Twitter feed (top to bottom left to right). It's incoherent babble. How anyone would continue to pay for this is beyond me.

Checkout the highlighted box. He says he was long from 6400 today even though the market hasn't been there today. He then 'scales in' at 62 and apparently gets out for 0.

Compulsive liar.

It looks like he managed b/e on his early small long trades where he scaled in, then made good money short £50/pt from 6312 down to 6300 then I think he's saying he got stopped on another long trade before the market did finally reverse and went up to 6350 prior to London close.

You can pick holes in every trade a guy makes, or watch and learn. I've watched his trades week-in, week-out, Mike's record-keeping is atrocious, but he knows the FTSE. It's confusing for people I know, and the constant tweets can add to the confusion.

Where newbies go wrong is they try to follow his trades with fixed stops and it won't work, you'll get knocked out time and time again.

Also, trying to copy someone else's Twitter trades is madness, you'll always be two steps behind. Just use them as a learning tool (if even that is possible).

 

[MrStopLoss]

It looks like he managed b/e on his early small long trades where he scaled in, then made good money short £50/pt from 6312 down to 6300 then I think he's saying he got stopped on another long trade before the market did finally reverse and went up to 6350 prior to London close.

You can pick holes in every trade a guy makes, or watch and learn. I've watched his trades week-in, week-out, Mike's record-keeping is atrocious, but he knows the FTSE. It's confusing for people I know, and the constant tweets can add to the confusion.

Where newbies go wrong is they try to follow his trades with fixed stops and it won't work, you'll get knocked out time and time again.

Also, trying to copy someone else's Twitter trades is madness, you'll always be two steps behind. Just use them as a learning tool (if even that is possible).

Pick holes in a blatant lie? Have you actually seen today's market and compared to what he said? Or just wanted to defend him without actually reading it?

He says, at 08:09 - "As per the tweets am small long the ftse at 00 will add at 94 with stop at 80 if needed but I expect a bit down and then up so why am I long"

Well the market hasn't been near 6400 since 17:00ish yesterday. The market gapped down below his apparent stop of 80 on the open. This is so far from reality it's amazing.

He then says, "have added more at (63)62", around 09:05. The market only retraced to around 6369 before carrying on down. Hardly scaling in for B/E.

What about my first screen shot a few posts ago where he is lying and I've pointed out the lies? Is that "picking holes" too?

 

[stillawake]

Pick holes in a blatant lie? Have you actually seen today's market and compared to what he said? Or just wanted to defend him without actually reading it?

He says, at 08:09 - "As per the tweets am small long the ftse at 00 will add at 94 with stop at 80 if needed but I expect a bit down and then up so why am I long"

Well the market hasn't been near 6400 since 17:00ish yesterday. The market gapped down below his apparent stop of 80 on the open. This is so far from reality it's amazing.

He then says, "have added more at (63)62", around 09:05. The market only retraced to around 6369 before carrying on down. Hardly scaling in for B/E.

What about my first screen shot a few posts ago where he is lying and I've pointed out the lies? Is that "picking holes" too?

Yes, of course the '00' tweet is so blatantly wrong, it is sure to be an error. But if Mike added big at 50 was it? Was there a scant 8 pts or something there, perhaps that's how he got out for zero points.

Anyway, I wouldn't read too much into the tweets, they are always prone to error when you are trying to juggle with trading a fast-moving market. You'd have to be mad to try and copy these Tweeted trades, use them just for entertainment and maybe help learn, either what or what not to do, depending on your view of Mike!

 

[samirs]

Where newbies go wrong is they try to follow his trades with fixed stops and it won't work, you'll get knocked out time and time again.

Also, trying to copy someone else's Twitter trades is madness, you'll always be two steps behind. Just use them as a learning tool (if even that is possible).

where newbies go wrong is the they follow such conmen and following anyone on t2w / twitter or anywhere else to copy trades is pure madness...you might as well physically burn the money to heat the room

 

[MrStopLoss]

Yes, of course the '00' tweet is so blatantly wrong, it is sure to be an error. But if Mike added big at 50 was it? Was there a scant 8 pts or something there, perhaps that's how he got out for zero points.

Anyway, I wouldn't read too much into the tweets, they are always prone to error when you are trying to juggle with trading a fast-moving market. You'd have to be mad to try and copy these Tweeted trades, use them just for entertainment and maybe help learn, either what or what not to do, depending on your view of Mike!

This isn't about following Trades on Twitter. Obviously that's stupid. It's about warning people off from someone who provides a dishonest service.

Again, what about this screen shot? Just an 'error' or a lie? He lies and lives in la-la land day after day.

 

[007_Rebooted]

What a depressing thread. I had a look at ftseday's site there. Looks like the SHTF for a many reasons.

I am still annoyed I got suckered, but was lucky to get out early doors.

I'd love to see the story with this guy - how much cash he made off of people, and how many folk learned to trade via him?

 

[stillawake]

Actually, the real story with FTSEDay was not whether he was lying in his tweets (and actually why would anyone do that, because they'll always be someone to catch you out?).

The issue I think (and anyone who spent time in his Room will hopefully confirm) was that he was 'teaching' one method, but trading another, so many of his newbies would get very confused.

By this I mean he consistently used what he called 'advanced' methods that basically involved adding to losing positions until they turned around. He was pretty good at it because he had a handle on the FTSE.

Also, trading the open (FTSE, Dax, whatever) can be very fast, if you're after 10 points or so you can be in and out in a couple of minutes (or seconds), it's impossible to Tweet that kind of stuff and best not to try as the timings are sure to make you look crooked.

 

[MrStopLoss]

Are you deliberately ignoring what I am saying? IT'S NOT ABOUT THE LIVE TWEETS.

The screen shot I posted of his live room shows he is lying. What he says and does in there isn't what he puts on Twitter to attract new people.

You stick up for him far too much considering how bent he is.

 

[stillawake]

MrStopLoss, as you say if he puts wrong info on Twitter he's going to get caught out isn't he?

I can't see much in your screenshot to get excited about....

Late in Room - okay, so what?

No explanation/analysis, yes well he probably said on mic: "I can only see down today".

Short target 6305 or 6300 – does it matter?

More than one short? – I'd guess he opened his trade in 2 or more parts.

Best buy price at 8:45 was 6312.7, okay, but his Room chat lists 8:46 so does that maybe explain it?

No records, no accountability - yes I agree without proper results it's crazy to make claims like 80% success, but you know he has to fuel his business somehow! End of day, if someone can trade well and make a bloody good living, why would they want to spend their time trying to teach a bunch of strangers how to do it?

For a paltry £80 a month might be worth looking at the site his ex-mods have started, at least you won't be shelling out thousands.

 

[MrStopLoss]

MrStopLoss, as you say if he puts wrong info on Twitter he's going to get caught out isn't he?

I can't see much in your screenshot to get excited about....

Late in Room - okay, so what?

No explanation/analysis, yes well he probably said on mic: "I can only see down today".

Short target 6305 or 6300 – does it matter?

More than one short? – I'd guess he opened his trade in 2 or more parts.

Best buy price at 8:45 was 6312.7, okay, but his Room chat lists 8:46 so does that maybe explain it?

No records, no accountability - yes I agree without proper results it's crazy to make claims like 80% success, but you know he has to fuel his business somehow! End of day, if someone can trade well and make a bloody good living, why would they want to spend their time trying to teach a bunch of strangers how to do it?

For a paltry £80 a month might be worth looking at the site his ex-mods have started, at least you won't be shelling out thousands.

He said on Twitter he called two winning short trades live in his room. This clearly didn't happen from what you can see on the screen shot and therefore what he said on his public Twitter account was a lie. You seem to want to defend that he doesn't lie when it's clear he deliberately doesn't.

 

[stillawake]

He said on Twitter he called two winning short trades live in his room. This clearly didn't happen from what you can see on the screen shot and therefore what he said on his public Twitter account was a lie. You seem to want to defend that he doesn't lie when it's clear he deliberately doesn't.

Well done, you have spotted an 'educator' lying, you can go to the top of the class today!

Mike's ex-moderators' new room is called FTSE Plus, give 'em a go (think if you ask Simon nicely he'll give you a free month). If FTSE Day isn't any good for you, they' are seriously much, much better at record-keeping.

GOOD LUCK!

 

[MrStopLoss]

Well done, you have spotted an 'educator' lying, you can go to the top of the class today!

Mike's ex-moderators' new room is called FTSE Plus, give 'em a go (think if you ask Simon nicely he'll give you a free month). If FTSE Day isn't any good for you, they' are seriously much, much better at record-keeping.

GOOD LUCK!

I want a gold star, too, please. Being top isn't enough.

 

[stillawake]

Found myself receiving all FTSEDay's tweets yesterday for some reason. I have to say they were absolute gobbledegook, how any newbie trader could learn anything from them is beyond me.

I really don't know about how honest FTSEDay is now, it was okay for a bit a year ago but I think it's probably fallen apart since the other guys left. Problem is, even if someone can trade honestly, that doesn't make them a good teacher, and Mike's lack of discipline and figures means I have to currently downgrade the FTSEDay service to WORSE THAN USELESS.

There was no explanation of reasons for trades, no actual numbers (entries, exits), nothing to help anyone (especially a newbie) anything about trading. Just an endless spew of nonsense.

If you are a new trader don't waste your money on any Room that doesn't back up their claims with hard figures.

 

[Paulwillia8]

I think poor old Mike has gone to piece's since moving to Thailand, Mike had a good thing going with FTSEday but he didn't give a dam and its all gone now. He's all loved up with some Thai girl and they are masters of extraction of money from guys like mike. Hope he gets himself together again and focus's on what he wants to do. For now he is living on cloud 9, I just hope he comes down to Earth.
Wish him all the best.

 

[stillawake]

Again getting FTSEDay tweets today, and guess what – a trade plan has been posted early on – and surprise, surprise, it has all gone awfully pear-shaped. He's lost long, lost short and on the long side again!

This is why these guys hate having to post any kind of results - because the results would tell the awful truth, that it's all a scam!

Of course, when a day goes well there's lots of noise made on Twitter: "Loads of points made... My work is done... Off to book first class flights to Hawaii". But when a day goes badly, the Tweets mysteriously disappear or sometimes they'll be: "A rare losing day but I'll still be well up for the week which is all that matters!"

All without any documented proof, so it has to all be bullsh*t doesn't it?

 

[MrStopLoss]

Again getting FTSEDay tweets today, and guess what – a trade plan has been posted early on – and surprise, surprise, it has all gone awfully pear-shaped. He's lost long, lost short and on the long side again!

This is why these guys hate having to post any kind of results - because the results would tell the awful truth, that it's all a scam!

Of course, when a day goes well there's lots of noise made on Twitter: "Loads of points made... My work is done... Off to book first class flights to Hawaii". But when a day goes badly, the Tweets mysteriously disappear or sometimes they'll be: "A rare losing day but I'll still be well up for the week which is all that matters!"

All without any documented proof, so it has to all be bullsh*t doesn't it?

Agreed. It's comical reading.

 

[Withnail101]

Things I have learned from this thread

Never ask dieting tips from a fat man.

Treat free information with the respect it deserves.

Expect emotional people to reply with emotion.

The only way to learn is by doing

Nothing bought is ever wasted, it is merely a lesson to get to the next level.

If you treat people with respect on forums you will get respected and your power will grow

Forensic detailed inspected of any human will reveal them to be human

Do, learn from it, apply learning and implement.

Simplicity confuses stupid people