pretty sarcastic there....have your own conviction..this blog
isn't here to invest your money for you...there are A ton of great
ideas here, but matt and dodger aren't here to tell you when to
invest your money
What is the point of all that info if there's no follow through -
coherence is at issue here.
I don't need 900 daytrading ideas, but I think it's reasonable to
expect follow through in the tenor of the hour or so I put into
listening to updates late at night, which would be a hell of a lot
less of a crimp on my lifestyle if it came out earlier
If that wasn't offered then I wouldn't expect the blog not to be
silent in response to my previous request for an update from ANYone
with ‘conviction’ to what appeared to be the long-awaited and much
talked-about longer term break of QQQQ over 46. The OIL short
apparently triggered yesterday on lower volume.
I’m not saying this to be nasty to poor old Matt & Steve. I
know Matt’s often on the ball with this, but in this case there was
no response from ANYone for half an hour. I could have benefited
from ANYone’s conviction, including yours since you apparently had
one. But if no-one had any take on the indices’ direction, I’m
wondering how it is you are judging your daytrades. Why not
communicate on the main thing before all the chaff.
The conviction you are talking about seems next to useless in
changeable chaotic markets. Ongoing and timely communicating on the
signals is far more useful, at least to me. And once again, as
NOT a full time daytrader, I apparently represent the majority. I
took a bunch of watchlist longs on legitimate volume only to find
out after the fact it was a probably false break. Even a warning
peep after the SPY 5m head and shoulders didn’t seem to play out
and the triangle breakout held would have been helpful.
kreem -- what time frames are you trading. The watchlist
is presented as swing trades, so maybe not that important if
there's a break on the 5 or 15 min charts. Take the trade you
like, set a stop. As a blog member, I want
to say that if you have a specific question, ask a specific person
or two and then deal with them if you don't like the response you
get. But you can't ask a queation of the whole blog and then
get mad at everyone for not responding.
I don’t know you from a bar of soap, and I can
just say this.
1: You must always be responsible for your own
decisions, even if someone had pointed you in the right direction
with your request, it is you that needs to pull the trigger; and to
do that (I for one) one needs to know why you are doing it and have
a plan in place to exit your trade.
2: One needs to know why markets move as they
do and why TA works as it does, seems to me your “bull trap” came
about by either setting a stop too tight or listening to the
“noise” So, if I may let me help you: On any pattern (A head
shoulder, (or it’s sister –reverse head and shoulders), a wedge, a
triangle or a channel…..you will often get a retest of the break (
see the chart I posted earlier). So in essence one needs to learn
and understand for yourself why things work as they do, there are
many ways to do this….must I point you to some learning blogs?
3: Trading is not a “get rich quick” thing
(some might be lucky or gifted) and this site entails a lot of
work, I know I run one in SA, and thus the owners need time to put
together all the charts they do.
Anyway, my 2 cents worth…take it or leave it
and trade well…..it takes time…))))
Posted by dodgerdog on 6th of Aug 2008 at 02:46 pm
kreem - we have lives too and it takes time to analyze the
charts - you have made your point very clear. I already
replied to your earlier questions - check your inbox.
In terms of trading questions, you need to take more
responsibility, we can only do so much and we do not have crystal
balls. Define what type of trader you are and stick to
it.
If you don't find the service useful then by all means go
elsewhere.
Posted by treid4dou on 6th of Aug 2008 at 02:06 pm
dont always sound as the PR guy of the site mentors.....I guess
they may speak for themselves, if a remark from a subscriber is in
contradiction to their objectives... Unless you are the PR
guy....so my opinion is invalidated...
Posted by treid4dou on 6th of Aug 2008 at 02:24 pm
dont get me wrong....I always appreciate your trading
ideas.....just meant regarding whats postable or not in the
Blog...or what Matt/Steve are supposed to do.... just
that....lol....keep it up !!!
In response to kreem's comment, I can relate to his frustration
at times. What is difficult is to day trade and actually
apply concepts to make an income. After finishing college two
month ago, I am currently working hard to figure out how to be
successful in trading, and basically breaking even over the last
few months. Yes, with a Series 7, I could easily get a secure
job with a financial firm that pays $50,000 a year. However,
I think the rewards of being an independent trader far exceed this
through unlimited vacation days :) and increased pay. Agreed,
right guys? It is hard to refrain from making comments like
the one kreem made. Yes, everything seems so easy on the surface
and at times I feel like I could write the nightly updates, at
least regarding the major indices. The fact is, I'm not
making much of an income yet so I can't do that! I'm pretty
sure, at least I hope that, Matt and Dodger make well into six
digits a year through trading alone. Therefore, they really
don't need the income generated from this site, which doesn't
compare to their income through trading. Then I ask myself,
if they can make enough income through trading alone, why would
they be concerned about running a web site? The only
conclusion is that these guys want to help others be successful as
well. That's why I'm here... to learn!
Currently, my main trades consist of SPY options of 3 contracts
at a time. My initial goal is to make $.50 a week on these
options trading 10 contracts, which would be $500 a week. Any
comments are welcomed! Thanks!
I can relate to the frustration for sure, but I don't think its
right to take it out in any way on matt and steve. They give
so much information in the newsletter and updates every day, or
more than once a day, that having them on the blog at all is more
or less a perk I think. People on this blog sometimes ask for
more updates, or updates on specific sectors, or whatever, as if
breakpoint trades is this big organization with lots of resources
-- but its just matt and steve in front of their computers.
They give an incredible amount of information, actually.
I think matt and steve are great -- I;ve been here since before
matt started reworking the website -- there were no daily updates!
-- and I know they enjoy doing what they're doing and helping
people. But the other reason for wanting to build a
successful subscription website is that it can be a tremendous
income stream and trading is hard work.
Posted by srleblanc on 6th of Aug 2008 at 02:52 pm
I appreciate all the honest dialog and can relate to much of
it.
I, too, feel frustrated at times, mainly because I want to make
successful trades and they don't always happen. I sometimes find
myself looking for someone to tell me when to buy and sell because
I don't fully understand how to interpret the charts and
commentary. I know that I am responsible for my trades, my choices.
I realize that this BPT subscription that
Ihave signed up and paid for is, like life, a continuous
learning process, a journey. I think that we all want to make
successful trades and, despite the end goal of making money, a
livelihood, it is the journey that is so important; like this
dialog, the learning that happens everyday, the being.
It's like we're all sitting at a table and all the information
from this web site (blog, updates, etc.) is presented to us, put on
the table in front of us. It's our choice what we do with it; we
can discard it or we can utilize some or all of it in whatever way
we think will best serve us - it's our choice.
Lawyse and others. Although the concept of getting help might be
your goal at this site - as it is mine, it is still each of our
responsibilities to learn what to watch for and do our own
homework. I have had much better success FOLLOWING the traders
here, than trying to find my own trades AT THIS POINT IN TIME.
By following, I am learning what folks look at, watch for, and get
excited about. There are many who post constantly - even though
they too are trying to make a living at it.
With that said, maybe an enhancement on the site would be a HELP
filter. Where folks that are needing to get some help could post
their questions there, then those that have time, and experience,
and interest, could take a look at it from time to time. I suspect
not everyone monitors every post on the blog and thus many HELP
requests get passed over. Seems the same folks reply to the help
cries all the time. But sometimes, the person could be asking at a
bad time for folks or about a stock or sector that those "same
Folks" just are not comfortable replying to.
IMHO, the subscription price is worth it just for the nightly
and weekend updates - the day time stuff from Matt and Dodger is a
bonus. If they had time to answer every inquiry, they would have to
raise the price 500% as they would be giving up their ability to
make their own trades. They work really hard at what they do.
Follow their lead, learn, and in time, you will be able to do what
they and others here do. Consider this initial time here an
investment in your future and education. I don;t think anyone with
short time experience should expect to have their hand held and
thus this site might not be the best selection.
If you put on a trade and it doesn't feel so good - get out and
wait for a better set up. Pay attention to the basic rules - don't
chase, look for good entry points, and take profits often - even if
little ones. If you are unsure about a trade then wait for the
next set up - another will always come along.
I'm not going to comment on your goals that's fine and I wish
you well, there are people here who work full time jobs, go home do
research flip thru hundreds of charts to try to come up with a few
ideas for the board. I know matt and dodger put in huge hours to
come up with VERY informative and detailed nightly charts to help
steer us thru the very tough market. I don't think a sarcastic post
is helpful to anyone....i may be wrong just the way I see it.
Newsletter
Subscribe to our email list for regular free market updates
as well as a chance to get coupons!
pretty sarcastic there....have your own
Bit late, looks like I got bull- trapped in all the ...
Posted by dylan398 on 6th of Aug 2008 at 01:34 pm
pretty sarcastic there....have your own conviction..this blog isn't here to invest your money for you...there are A ton of great ideas here, but matt and dodger aren't here to tell you when to invest your money
...and quite a few facts
Posted by kreem on 6th of Aug 2008 at 02:38 pm
...and quite a few facts amongst the sarcasm.
What is the point of all that info if there's no follow through - coherence is at issue here.
I don't need 900 daytrading ideas, but I think it's reasonable to expect follow through in the tenor of the hour or so I put into listening to updates late at night, which would be a hell of a lot less of a crimp on my lifestyle if it came out earlier
If that wasn't offered then I wouldn't expect the blog not to be silent in response to my previous request for an update from ANYone with ‘conviction’ to what appeared to be the long-awaited and much talked-about longer term break of QQQQ over 46. The OIL short apparently triggered yesterday on lower volume.
I’m not saying this to be nasty to poor old Matt & Steve. I know Matt’s often on the ball with this, but in this case there was no response from ANYone for half an hour. I could have benefited from ANYone’s conviction, including yours since you apparently had one. But if no-one had any take on the indices’ direction, I’m wondering how it is you are judging your daytrades. Why not communicate on the main thing before all the chaff.
The conviction you are talking about seems next to useless in changeable chaotic markets. Ongoing and timely communicating on the signals is far more useful, at least to me. And once again, as NOT a full time daytrader, I apparently represent the majority. I took a bunch of watchlist longs on legitimate volume only to find out after the fact it was a probably false break. Even a warning peep after the SPY 5m head and shoulders didn’t seem to play out and the triangle breakout held would have been helpful.
kreem -- what time frames
Posted by Michael on 6th of Aug 2008 at 03:00 pm
kreem -- what time frames are you trading. The watchlist is presented as swing trades, so maybe not that important if there's a break on the 5 or 15 min charts. Take the trade you like, set a stop. As a blog member, I want to say that if you have a specific question, ask a specific person or two and then deal with them if you don't like the response you get. But you can't ask a queation of the whole blog and then get mad at everyone for not responding.
FWIW
Posted by ravun on 6th of Aug 2008 at 02:52 pm
Hi
I don’t know you from a bar of soap, and I can just say this.
1: You must always be responsible for your own decisions, even if someone had pointed you in the right direction with your request, it is you that needs to pull the trigger; and to do that (I for one) one needs to know why you are doing it and have a plan in place to exit your trade.
2: One needs to know why markets move as they do and why TA works as it does, seems to me your “bull trap” came about by either setting a stop too tight or listening to the “noise” So, if I may let me help you: On any pattern (A head shoulder, (or it’s sister –reverse head and shoulders), a wedge, a triangle or a channel…..you will often get a retest of the break ( see the chart I posted earlier). So in essence one needs to learn and understand for yourself why things work as they do, there are many ways to do this….must I point you to some learning blogs?
3: Trading is not a “get rich quick” thing (some might be lucky or gifted) and this site entails a lot of work, I know I run one in SA, and thus the owners need time to put together all the charts they do.
Anyway, my 2 cents worth…take it or leave it and trade well…..it takes time…))))
kreem - we have lives
Posted by dodgerdog on 6th of Aug 2008 at 02:46 pm
kreem - we have lives too and it takes time to analyze the charts - you have made your point very clear. I already replied to your earlier questions - check your inbox.
In terms of trading questions, you need to take more responsibility, we can only do so much and we do not have crystal balls. Define what type of trader you are and stick to it.
If you don't find the service useful then by all means go elsewhere.
dont always sound as the
Posted by treid4dou on 6th of Aug 2008 at 02:06 pm
dont always sound as the PR guy of the site mentors.....I guess they may speak for themselves, if a remark from a subscriber is in contradiction to their objectives... Unless you are the PR guy....so my opinion is invalidated...
OK...I guess your right...I'm gonna
Posted by dylan398 on 6th of Aug 2008 at 02:16 pm
OK...I guess your right...I'm gonna take a break from posting for a while
dont get me wrong....I always
Posted by treid4dou on 6th of Aug 2008 at 02:24 pm
dont get me wrong....I always appreciate your trading ideas.....just meant regarding whats postable or not in the Blog...or what Matt/Steve are supposed to do.... just that....lol....keep it up !!!
goals
Posted by lawyse on 6th of Aug 2008 at 01:56 pm
In response to kreem's comment, I can relate to his frustration at times. What is difficult is to day trade and actually apply concepts to make an income. After finishing college two month ago, I am currently working hard to figure out how to be successful in trading, and basically breaking even over the last few months. Yes, with a Series 7, I could easily get a secure job with a financial firm that pays $50,000 a year. However, I think the rewards of being an independent trader far exceed this through unlimited vacation days :) and increased pay. Agreed, right guys? It is hard to refrain from making comments like the one kreem made. Yes, everything seems so easy on the surface and at times I feel like I could write the nightly updates, at least regarding the major indices. The fact is, I'm not making much of an income yet so I can't do that! I'm pretty sure, at least I hope that, Matt and Dodger make well into six digits a year through trading alone. Therefore, they really don't need the income generated from this site, which doesn't compare to their income through trading. Then I ask myself, if they can make enough income through trading alone, why would they be concerned about running a web site? The only conclusion is that these guys want to help others be successful as well. That's why I'm here... to learn!
Currently, my main trades consist of SPY options of 3 contracts at a time. My initial goal is to make $.50 a week on these options trading 10 contracts, which would be $500 a week. Any comments are welcomed! Thanks!
I can relate to the
Posted by Michael on 6th of Aug 2008 at 02:20 pm
I can relate to the frustration for sure, but I don't think its right to take it out in any way on matt and steve. They give so much information in the newsletter and updates every day, or more than once a day, that having them on the blog at all is more or less a perk I think. People on this blog sometimes ask for more updates, or updates on specific sectors, or whatever, as if breakpoint trades is this big organization with lots of resources -- but its just matt and steve in front of their computers. They give an incredible amount of information, actually.
I think matt and steve are great -- I;ve been here since before matt started reworking the website -- there were no daily updates! -- and I know they enjoy doing what they're doing and helping people. But the other reason for wanting to build a successful subscription website is that it can be a tremendous income stream and trading is hard work.
Frustration Dialog
Posted by srleblanc on 6th of Aug 2008 at 02:52 pm
I appreciate all the honest dialog and can relate to much of it.
I, too, feel frustrated at times, mainly because I want to make successful trades and they don't always happen. I sometimes find myself looking for someone to tell me when to buy and sell because I don't fully understand how to interpret the charts and commentary. I know that I am responsible for my trades, my choices.
I realize that this BPT subscription that Ihave signed up and paid for is, like life, a continuous learning process, a journey. I think that we all want to make successful trades and, despite the end goal of making money, a livelihood, it is the journey that is so important; like this dialog, the learning that happens everyday, the being.
It's like we're all sitting at a table and all the information from this web site (blog, updates, etc.) is presented to us, put on the table in front of us. It's our choice what we do with it; we can discard it or we can utilize some or all of it in whatever way we think will best serve us - it's our choice.
FWIW
Goals
Posted by rgoodwin on 6th of Aug 2008 at 02:15 pm
Lawyse and others. Although the concept of getting help might be your goal at this site - as it is mine, it is still each of our responsibilities to learn what to watch for and do our own homework. I have had much better success FOLLOWING the traders here, than trying to find my own trades AT THIS POINT IN TIME. By following, I am learning what folks look at, watch for, and get excited about. There are many who post constantly - even though they too are trying to make a living at it.
With that said, maybe an enhancement on the site would be a HELP filter. Where folks that are needing to get some help could post their questions there, then those that have time, and experience, and interest, could take a look at it from time to time. I suspect not everyone monitors every post on the blog and thus many HELP requests get passed over. Seems the same folks reply to the help cries all the time. But sometimes, the person could be asking at a bad time for folks or about a stock or sector that those "same Folks" just are not comfortable replying to.
IMHO, the subscription price is worth it just for the nightly and weekend updates - the day time stuff from Matt and Dodger is a bonus. If they had time to answer every inquiry, they would have to raise the price 500% as they would be giving up their ability to make their own trades. They work really hard at what they do. Follow their lead, learn, and in time, you will be able to do what they and others here do. Consider this initial time here an investment in your future and education. I don;t think anyone with short time experience should expect to have their hand held and thus this site might not be the best selection.
If you put on a trade and it doesn't feel so good - get out and wait for a better set up. Pay attention to the basic rules - don't chase, look for good entry points, and take profits often - even if little ones. If you are unsure about a trade then wait for the next set up - another will always come along.
lawyse, I'm not going to comment
Posted by dylan398 on 6th of Aug 2008 at 02:08 pm
lawyse,
I'm not going to comment on your goals that's fine and I wish you well, there are people here who work full time jobs, go home do research flip thru hundreds of charts to try to come up with a few ideas for the board. I know matt and dodger put in huge hours to come up with VERY informative and detailed nightly charts to help steer us thru the very tough market. I don't think a sarcastic post is helpful to anyone....i may be wrong just the way I see it.