At MarketClub, our mission is to help you become a better trader. Our passion is creating superior trading tools to help you achieve your goals—no matter which way the markets move—we promise objective and unbiased recommendations not available from brokers.
Here's great news from a member...
"I've been using MarketClub for several months now, and my experience has been phenomenal. After trying and choosing for some of the web-sites I've been using, MarketClub for me is not just different is the best.
Talking about all the services that I can find once I log in, there is plenty of things I am able to do using my tools for the traders in MarketClub. One of those tools is the Trade Triangles which gives valuable points of views on what direction the market or one of my favorite stocks is heading to. Giving an example of a good performance using the talking charts which are awesome by the way and the Trade Triangles, for me could be (QSII) Quality Sys Inc. A weekly buy signal was posted on March 10, 2009 and this stock is been moving in positive way since then for almost 50%, I believe this talks a lot of how good and comfortable I feel knowing that MarketClub is here with me to help. Thank you MarketClub." ~ Manuel R., Florida
To send your own success story, please email [email protected] We wish all of our members the best and we look forward to hearing your success story.
6 thoughts on “Saturday Success Story - Manuel, Florida”
Once you have a system that works, stops are the hardest decision to make because your flesh will scream when you get stopped out before, for example, the move we've just had in Gold.
Next time around, your mind will be playing tricks with you and very soon the market is controlling you.
Thanks for your feedback.
In regards to stops ... one size does not fit all. Stops and the use of stops all depend on a traders/investors tolerence for risk.
Here is a link to a blog I wrote on stops that you might find interesting:
All the best,
I agree with both comments above.
I just watched the latest video on how to understand trends and did not lear a thing other than there are trends, which I knew. Nothing about setting stops, especially for us who trade shorter time frames. The draw down would be scary in the beginning.
Much more explanation needs to go along with the video or not do it.
Drawing trend line is the easy part.
I do appreciate what yo uare attempting to do.
To be fair Market Club is running a business and it would be unreasonable for Adam to give away free specifics to non-paying visitors.
My 2 bits on stops
If you are position or long term swing trading then the 1 - 2% breathing room rule makes sense. But if you are like me and every trade starts out first as a day trade before they develop into a swing trade then 'give it room to breath' and 'it's time in the market not timing the market' smug BS is not acceptable. Stops need to be adjust to 1) position size, 2) market / instrument conditions, 3)time frame of the trade, 3)entry and 4)opportunity costs imho.
In the case of opportunity costs, for me they are;
- 15 - 60$ for a round trip (buy/sell)trade depending on how much I scale in / out.
- downside cost of my position if it goes against me.
- dead money in a trade doing nothing
- 3 business day settlement period for my retirement account.
If after entry the trade starts to go against me - I am wrong and I need to get out and eat the 15$ + any downside. I may not even let my initial stop be hit. If it was a fake out and the trade comes back then I can always put it back on.
If the trade does nothing after a hour or so then it is likely I am wrong and need to reduce or eliminate my exposure.
If the trade works but then starts to go against me why should I give back profit. If the trade bounces at the break out point I will get another chance at making money after I take profit.
Yes I may take it off then find the trade moves in my favor and I am not be able to trade for the 3 day settlement period but that tells me I am over trading and my analysis / entry is sloppy or the market / instrument is too choppy to trade.
Bottom line - define the high probability trade set ups per YOUR written trade plan and don't count of the it's easy to make money system BS.
These success stories would be a lot more interesting and helpful if they contained examples and explanations of how they use MarketClub in detail, giving examples and specifics.
Good for you. Its good to ride a once in multi-year wave.
However, Market Club needs to realize that their trade triangles and stock screens based on the 30 - 60min time frame are absolutely required for choppy and range bound markets or they will loose business to their competitors.
The easy money has been made. In range bound markets shorter time frame stock screens and analysis are absolutely required.
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