The Underground Trader


Active member
243 0
Have any of you joined this site? What are your opinions?

I have read, but not quite understood the book: TheUndergroundTrade Guide to electronic trading. They use really strange terminology and a lot of the techniques are really hard to follow in practice. But they obviously make money.. perhaps I'm not clever enough, or its too advanced techniques for where I am.

I was going to try their TradingPit... which is live commentry and day trading suggestions. Seems pretty good, but I wasn't expecting it to cost $200+ a month!! I always get worried when I see rather hefty monthly charges for these 'services' as I am thinking, they dont have to be good traders with so much coming in a month! And yet they would soon stop having big followings if they started being wrong!

So... what do you think of them? And what do you think of their techniques? The techniques they use are very different to the sort of things I've read elsewhere, such as Jake Bernstein, Alan Farley and Dr Elder.


6 0
pkfryer - The underground trader have a new book, The Secrets of the Underground Trader. Have a look at that before you sign up to their service.


Well-known member
259 5
pkfryer - Where did you get the book from as all the sites I visit state the book is 'sold out. out of print'?




Active member
243 0
I get all my financial books including that one from!
Its an interesting read, but hard going.. at least I think it is! Maybe I'm not ready for it.


Well-known member
340 0
I got my copy from Books Etc near Fenchurch Street so it should be available - this is the newer book "Secrets of the Underground Trader" haven't found it an easy read so it is on my to be finished reading pile.



5 0
I bought Jay's books and his video (Level II Trading Warfare) then gave his site a try. I can say lots of people make money in the pit. It was a lot to learn in a 2-week trial for me, but Jay was very helpful and I enjoyed the room. Some of his lingo was hard to get at first PUP breakouts, 3PB, cranks, and crosslocks etc. I did start getting it better near the end of my 2 weeks. They use stochastics and moving averages 1,3,13min charts. I did not end up staying, I was just not ready at that point for that much information. Over all I would say give them a shot.



Well-known member
339 7
$200 a month times say 100 newbies. As long as Jay can continue sucking in those who think that successful daytrading is just about a few technical indicators, he can continue to sit easy on his $20k a month.
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