Heard of "Day Trading Made Easy" or "Day Trading Made Simple"?

[sashen]

This is a system being sold by Doug West

MINOR details about the system at:
]http://oiopro.com/cash/veeder/daytradethanks.shtml

or at www.day-trading-made-easy.com

(these are links affiliates sites... I AM NOT AN AFFILIATE)

Then also at ]http://oiopro.com/thelatestresults.html

He used to sell the strategy for $200, but now only does a $1300 class ... and reveals NOTHING about the system stats in advance other than people swearing it works (and, according to them, better than almost anything I've heard of!)

Anyone know any more about it?

 

[Anonymous]

One only has to read the bottom of the website to know what they mean:

Risk Disclosure & Disclaimer Statement

"The testimonials and examples used are exceptional results, and are not intended to represent or guarantee that anyone will achieve the same or similar results. Some of the example trades are made with demo accounts while other results are from live trading.

"If hypothetical or simulated performance results are used, these have certain inherent limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not actually been executed, the results may have been under- or over-compensated for impact."

 

[sashen]

I agree, the message at the bottom of the website is telling... AND I've spoken to some traders who are actually trading this system and claim to be successful.

I'm looking for someone who knows/has the system so that we don't have to make hypothetical or uninformed comments about it, or try to assess it from inference

 

[rcfran]

I purchased it and felt that I was ripped off. I pointed this out to the site owner, Doug West and was brutally attacked and refused a refund. Personally, I wouldn't recommended it to my worst enemy.

I agree, the message at the bottom of the website is telling... AND I've spoken to some traders who are actually trading this system and claim to be successful.

I'm looking for someone who knows/has the system so that we don't have to make hypothetical or uninformed comments about it, or try to assess it from inference

 

[Anonymous]

wouldn't recommended it to my worst enemy

Hypothetically, it is hard to assess from inference why anyone wouldn't recommend it to his worst enemy, since, if there can be an uninformed effect like

brutally attacked and refused a refund

wouldn't that be what someone wants to happen to his/her worst enemy.

 

[sashen]

I purchased it and felt that I was ripped off. I pointed this out to the site owner, Doug West and was brutally attacked and refused a refund. Personally, I wouldn't recommended it to my worst enemy.

Can you say more about why you thought it was a rip-off?

I've spoken to 3 people who *say* they're making money with the system... but Doug has lied about it straight to my face (well, over the phone). I asked him, "What's the average winning trade and average losing trade... not an exact number, but a sense of it?" He said, "Oh, I have no idea... but it is right about 85% of the time, so if you can't make money with it, there's something wrong with you psychologically.."

I said, "You say you've been trading this for 3 years and you don't know the average winner and average loser?! Bull*&&t. And you can EASILY lose money with an 85% system, if the winners are 1R and the losers are 6R... so for you to say it's 85% and makes money means you MUST have a sense of the average winner/loser."

He yelled at me.

So, I'm not looking to buy the system, but I'm VERY curious to know more about it.

 

[Anonymous]

Look mate, if the seller says something to you like: "there's something wrong with you psychologically", are you sure you still want to buy from him/her? Don't you think he/she is insulting you? He/she may be psychiatrically unstable to say such thing to any potential customer, you still want to buy?

 

[sashen]

Look mate, if the seller says something to you like: "there's something wrong with you psychologically", are you sure you still want to buy from him/her? Don't you think he/she is insulting you? He/she may be psychiatrically unstable to say such thing to any potential customer, you still want to buy?

No. As I mentioned, I'm *NOT* looking to buy from this guy... and I *am* curious about the system.

 

[Tomerep]

I'm not sure its a good idea to depend on something spread free over the internet..

 

[sashen]

Ummm... it's not distributed free.

He charges $1300 for it (which is why I wanted to hear from people who KNEW it)

 

[Tomerep]

its an ebook?

 

[sashen]

You get a book (or ebook) that explains the system and real-time training. It's apparently just a MACD or Stochastic or Moving Average crossover system that you could learn VERY quickly. RCFRAN, who bought it, is pretty adamant that it's bulls*&t.

I can't for the life of me believe their claims... which, again, is one reason I'd LOVE to know the rules (I'm a curious guy)

 

[Trader/God]

Not to be discouraging, but I can guarantee the system doesn't work and anyone who promises something similar is most likely lying to you. After looking at nearly every name and popular system available for sale at nearly every price one pattern emerged: they don't work.

FX is a mountebanks playground for now, you are almost most definately better off developing your own system

Trader/God

 

[Naz]

I use something to make day trading easy or simple.I'm beta testing a scanner that calls all the best entries and key points to watch on the hottest stocks of the day that historicaly are poised to move.No need to do anything just sit back and let the scanner find the stock for you and alert you to the best entries.Along side is market commentry giving a complete run down on everything thats going on. GOOG poised for the $350 break yesterday here it was.

Alan

 

[JonnyT]

OK Naz,

Lets get to the Crux.

How much will it cost? When will it be on sale?

JonnyT

 

[Naz]

It'll be on Sale shortly the site is www.via-trader.com

Costs are not sorted out at the moment anyone who wants fuller details and to be kept in touch is welcome to leave their e mail with me at [email protected] for the personal touch or leave it on the site at http://www.via-trader.com/via/signup.htm



Naz

 

[unclej]

Someone nailed the biggest fault of this system right on the head. I did not pay for the course, but, I have pieced together the "jist" of it.

You wait until the mini S&P is in a down or up move based on free Yahoo charts and slow stochs, then, you place an order with a 2 tick profit and a 6-8 tick stop. Using this method, people are very happy because odds are that you will hit your profit 80-90% of the time before you hit your stop. Of course, you will also loose 4 winning trades with one bad one.

In defense of the course, it is really set up to teach people how to get started with trading, such as opening a demo account, how place a limit order, etc. For anyone who reads these boards and knows even a little bit about tech. analysis, it will be a waste of $1300.

Incidentally, there are people who claim to have not lost a single trade in 6+ months by using a modified version of this system. Just trading with lots of leverage and very small profits. Too risky for me......

 

[sashen]

Interesting... that's very different than the way they describe the system on their calls.

Who are the 6+ month with no losers people? Is it 60 Minute Trader?

 

[unclej]

Interesting... that's very different than the way they describe the system on their calls.

Who are the 6+ month with no losers people? Is it 60 Minute Trader?

Nope. The guy who claims no loosing trades waits for slow stochs. to cross above the 80 mark, then opens a short trade with only 2-3 ticks profit and a large stop loss. By manually backtesting this, I can see that most of your trades (90% or more) will be wins, but, you have to take some huge losses every now and then which scares me. You basically have to through money management out the window

I am paper trading this type of sysem now and so far it looks good for february, but, not worth $1300.

 

[brucerby]

I bought the Daytrading Made Easy System about a year ago. It's sounds great at first glance during the training BUT, once you start to trade it with real money, your opinion will change fast.

Profit -wise, Doug West's theory of taking very small profits (2 -3 ticks) and allowing 2 point or more losses is a killer. Yes, you will, if you are very, very careful and lucky, get alot of winners in a row and then you will get a loss or 2 that will completely wipe out your profit and then some. It happened to me and many others I know....The stochastic is not going to help with your trading the emini most of the time because it lags the market and only tells you what has already happened - not what's going to happen.

It's extremely difficult to find anybody trading Day Trading Made Easy with real money for any appreciable lenght of time. Doug West has put something in excess of 500 people tthrough the program yet only newby's ever come on the Thurs sales calls to talk about all their supposed success. ....and they are only DEMO trading.. They brag and brag how great it is and then you never hear from them again. Everyone I have heard of, and this is going back a year now has either lost all or most of the their money and stopped trading this method.

Most of the praise on the forums is because Doug West pays a $700 commission to anybody you bring into the program. So, even if you are losing money trading, many will start promoting the training to try and recover their losses.----sad but very true.

Professional traders with years of experience, laugh when they hear the claims about this so-called great trading discovery Doug made!! I agree with others who say you can find the chart, which is 'delayed' on top of everything else, and the rest on the internet for free. Also check out daytradingkingcom and you'll hear from many others who feel they got screwed.

The guy selling this,Doug west, is making a quarter million a year - NOT TRADING, just selling this junk.