Independent Review of WallStreet1928

[Sidekicker]

well I guess the position sizing is down to you. Say for example the maximum position you put on is £30 per point but you trade in lots of £10 per point. In your scenario above you would go £10 per point short @ 5000, and as price went lower right away you would not add to the position. there is no right or wrong.

Agreed but I'm just talking about doing the same thing.
ws averages so if we assume in the above example, ws only made £10 x 20 = £200
However, the call, makes a full £30 x 20 because it is only on paper = £600
See what I mean?

 

[MajorDutch]

Agreed but I'm just talking about doing the same thing.
ws averages so if we assume in the above example, ws only made £10 x 20 = £200
However, the call, makes a full £30 x 20 because it is only on paper = £600
See what I mean?

well the calls are measured in points not money as it depends what stake you put down. maybe WS1928 should call trades without averaging in or maybe he should be more specific about how he averages in. I don't know what the point score would be if someone put a trade on at each alert and didnt average in, I havnt checked and dont have the time to check.

 

[pboyles]

The only way you're going to know is to take the trades as they are called. This is after all what you'll be doing if you go live. Yes demo account fills may be slightly different but you need to account for trades that you may have missed or got into late. When he averages in does he call this as a trade or just mention it afterwards. If its the latter then you know something is wrong.

 

[Sidekicker]

well the calls are measured in points not money as it depends what stake you put down.

that's why I listed pts before:

ws averages so if we assume in the above example, ws only made £10 x 20 = £200
However, the call, makes a full £30 x 20 because it is only on paper = £600

is the same as:
The trader entering only 1/3rd position here with no opportunity to average in = 0.33 x 20pts = 6.66pts profit instead of the 20 listed on the call.

£30 x 6.66pts = £200
£10 x 20pts = £200 = 6.6pts effective.

I havnt checked and dont have the time to check

That's fine but I'm just explaining how the stats COULD be altered - I've seen it before. I am not saying ws does it though...just thought it was worth pointing out.
It also explains why this trader I spoke to made less on some of the calls than actually claimed on paper...that plus timing/delay issues.

 

[MajorDutch]

The only way you're going to know is to take the trades as they are called. This is after all what you'll be doing if you go live. Yes demo account fills may be slightly different but you need to account for trades that you may have missed or got into late. When he averages in does he call this as a trade or just mention it afterwards. If its the latter then you know something is wrong.

From what I have seen he calls the averaging in from outset not after

 

[Dick Lexic]

good thread MD but i think as flashheart has already said all that is needed is to post some live calls. i have to be honest i am a sceptic on this one but if wallstreet can demonstrate his/her trading ability on just one market lets say the ftse then he/she would gain respect on here. if it's to be multi market 3am stuff then forget it as far as im concerned and i suspect a lot of other people would feel the same.

ws's thread has a lack of testimonials from subscribers if you ask me, i mean 400 points a week! i'd be howling!

as bedsit has pointed out a similar thread was started by mr squirrel what has happened to him?

 

[Splitlink]

Whether WS is good, or not, Dutch is finding that it is almost impossible to do exactly the same as a tutor. That is one reason why so many courses fail. WS is not charging much, I'll give him that, but he should explain something as important as 24 hour trading, beforehand.

Here, we have WS trading at all hours and he will say, quite rightly, if that is how he does it, that it is not his fault if the pupils fail.

 

[Lord Flasheart]

Whether WS is good, or not, Dutch is finding that it is almost impossible to do exactly the same as a tutor. That is one reason why so many courses fail. WS is not charging much, I'll give him that, but he should explain something as important as 24 hour trading, beforehand.

Here, we have WS trading at all hours and he will say, quite rightly, if that is how he does it, that it is not his fault if the pupils fail.

all correct,but I think the main objection most will have is that he must back up what he says. it doesn't matter what he is charging as long as he says what he is charging for. If he is claiming loads of pips,then he has to prove it. If he is just selling analysis then he should say that is what he is selling and Id have no problem with that,but he is claiming 100s of pips every week.

 

[Splitlink]

all correct,but I think the main objection most will have is that he must back up what he says. it doesn't matter what he is charging as long as he says what he is charging for. If he is claiming loads of pips,then he has to prove it. If he is just selling analysis then he should say that is what he is selling and Id have no problem with that,but he is claiming 100s of pips every week.

I wonder how many clients he has? They are the ones who should be backing Dutch in his analysis, but they seem to be absent although I am sure that most, including WS, himself, are reading the thread.

I don't think that WS is going to justify himself. We can forget that.

 

[Sidekicker]

all correct,but I think the main objection most will have is that he must back up what he says. it doesn't matter what he is charging as long as he says what he is charging for. If he is claiming loads of pips,then he has to prove it. If he is just selling analysis then he should say that is what he is selling and Id have no problem with that,but he is claiming 100s of pips every week.

Does anyone know a professional trader in an IB or prop or arcade?
How many would they make?
Realise that most may trade larger size...

Only one I know of trades around 40 contracts on the ES and might only make 3pts (equiv to about 30pips or 12 ticks) each day on average and he runs his own company. $50 per 4 ticks x contracts.

 

[pboyles]

Does anyone know a professional trader in an IB or prop or arcade?
How many would they make?
Realise that most may trade larger size...

A lot of them are making nothing, if you read some of the comments about Schneiders youll see that. I think this is part of the problem here, people who have been around for a while know that hundreds of points a week is extremely unlikely. Plus we've heard this all before, that doesn't mean it's impossible of course, just highly unlikely and therefore people won't believe it until they see it with their own eyes.

 

[MajorDutch]

Here is what happened in week 3 - Nov 7th - Nov 11th.

Trades NASDAQ, FTSE, EURUSD, DAX, CAC. earliest alert 6.25am. had a drawdown of -250 but recovered up ti +65 on 10th Nov. left FTSE, DAX, NASDAQ open over weekend added EURUSD sunday evening.


weekly result +305.

week1 + week 2 + week 3 = +777

 

[MajorDutch]

Here is what happened week 4 - Nov 14th - Nov 18th earliest trade 4.38am (closed trades)

Trades EURUSD, DAX, FTSE, NASDAQ, EURJPY, WTI, AUDUSD all trades looked kosher to me.


weekly result +518

weeks 1 to 4 total = +1295

 

[MajorDutch]

week 5 Nov 21st - Nov 25th earliest alert 05.43am (update only)

Trades NASDAQ, FTSE, AUSUSD, DAX, WTI, EURUSD, CAC.

weekly result +300 however I have a FTSE trade open which WS1928 instructed to close out at market close. I dont know if he was referring to london close or NY close, he had an initial target of 5100 which was hit so depending on what average you got and when you closed it this would have yielded +50 to +100. I am not counting this in the weekly +300.

WS1928 signed off saying he is going to push for +500 next week.

feedback to WS1928 it may be helpful to:

1. give buy/sell alerts via text only and analysis only via email
2. give more information on how you average in, you talk about closing 2/3rds leaving last 3rd sometimes this gets confusing
3. give subscribers a set time period that you will contact them in say 7am to 11pm - give us some damn sleep

I dont know where you learned to trade but overall I think you have got something... I am traveling next week but will still check in every now and then unless I go the same way as Mr Squirrel!

 

[Splitlink]

I am going to sit back and read Dutch's posts.

However, I would appreciate his opinion on whether it is possible for the average subscriber to trade as he does because that is the crux of the thread.

 

[MajorDutch]

I am going to sit back and read Dutch's posts.

However, I would appreciate his opinion on whether it is possible for the average subscriber to trade as he does because that is the crux of the thread.

If I was going to do it I would open a demo account or chump change account with IG and make sure I could open/close/modify trades using the mobile app if I was away from my computer. maybe ask WS1928 for a money back guarantee if you dont make pips in 1 month.

 

[Lord Flasheart]

so hes going to push for 500 is he. Its total rubbish. I'm totally delighted if I average over about 70 pips a week. I've never met anyone who gets anywhere near that on a regular basis. Wake up and smell the coffee

 

[bedsit]

a money back guarantee if you dont make pips in 1 month.

What about the guarantee?

Does it cover lost trades?

It seems like a good service if he is prepared to cover all the losses suffered within a month - especially if there is no limit as to what stake one may trade.

 

[Splitlink]

If I was going to do it I would open a demo account or chump change account with IG and make sure I could open/close/modify trades using the mobile app if I was away from my computer. maybe ask WS1928 for a money back guarantee if you dont make pips in 1 month.

Spoken like a canny Scot! I think that that says it all.

I think that WS may be doing all he says he is, but he cannot pass it on, even if he means well.

 

[safvan]

Let me assure you can never make money in the long run if you are dependent on other people to hold your hands.

It is better to hand over the money completely to them to manage or learn it yourself.

Unless you understand the method behind the calls everything around is useless.