Day Trading Power Review

Day Trading Power
  • Honest
  • Quality
  • Verified Trades
  • User Experience
3.4

Summary

A surprising good stocks day trading room. Moderator really trades and keeps an honest daily log of trading results posted on website. Was able to copy the moderators trades with >95% accuracy. If you want to learn how to scalp day trade with a small trading account, this is a good option.

Sending
User Rating 2.8 (5 votes)
Comments Rating 1 (2 reviews)
Pros: Honest and verified results posted daily on website. Very consistent daily income. Stock day trading and scalping for small accounts. Was able to copy the trades of moderator with a high degree of accuracy. Inexpensive at only $77 each month.
Cons: This style requires either a US based prop trading firm, or a foreign prop trading firm. US based requires a series 7 license. Outside US can skirt the regulators, but you are risking your money outside the US.

Day Trading Power Review

Indepth Review of Day Trading Power

Writing trading reviews can be really depressing. Its difficult finding a gem. I found one. Today’s review is about a company named Day Trading Power. A stocks day trading room run by Chris Grosvenor out of Canada. This room originally came onto my radar in the summer of 2014. What caught my eye and really piqued my interest was the list of trades taken by the moderator. The list was long and thorough and looked great, but probably too good to be true. Rows of winners and very few losers. Admittedly, I thought that this must be a hustle. Nobody could be this good. And another red flag, if the moderator was so good, then why the cheap monthly cost of only $79?

The Review Process Begins

Late in the summer of 2014, I contacted Chris using a pen name and requested a trial subscription. He complained a little about offering the free trial, but I got it. I then had my assistant begin recording the trading sessions with Camtasia. Over the next 14 days, we collected nearly 80 hours of video recordings. We simply logged into the trading room, began recording and then stopped recording after the New York trading close. The recordings are typically replayed and processed within a couple of weeks of recording. The processing then requires that we watch the video and mark each entry and exit point that the moderator calls in the room. Each trade must be marked and then added to a spreadsheet. The spreadsheet is then compared to the posted performance on the website. Since Day Trading Power was highly active, and I was highly skeptical, the video did not get processed until December 2014.

Late 2014, my assistant processed the first week of trading video that we had captured. I was pretty amazed to see that the trades called in the room matched at over 95%, which is great. The second week we also got over a 95% match. We processed several hundred trades, which took a huge amount of time and effort on my assistants part, and all I remember was she telling me that we had found a good one. Keep in mind that she works remotely from the Philippines and her English is not perfect, yet she was able to understand the video with clarity and was able to clearly capture the trades. The fact that she could do this is a pretty good harbinger of how well a native English speaker is going to be able to follow the moderator in the trading room.

The Next Step In The Review

The next part of the review process is where we actually log into the trading room and attempt to copy the trades using a simulator. Many people would say that using a simulator is not really a realistic way to do this. However, a simulator is actually better than a real, live money account. Why? Because a simulator can be set so that no orders can be filled on a limit price. In other words, the entry and exit price must actually trade through and not just touch. A real live money account will sometimes fill a limit order, but a conservative simulator will not, which makes it a much better way to determine the authenticity and expectancy of future trading performance. Anyway, back to our simulator account and what we experienced at Day Trading Power. The first 2 days, my assistant copied each trade on a simulator and to our surprise, she actually performed better than Chris. It was not by much, but she actually got better fills on a 6 different occasions. This was probably do to the fact that Chris got a fill at Exchange A, while my assistant got a fill confirmation on Exchange B. Regardless, we were pleasantly surprised. Next step is for me spend a few days in the trading room and take a close and critical examination.

My Personal Experience With Day Trading Power

I spent the week of January 5th through January 9th sitting in the Day Trading Power trading room. I had no idea why Chris was entering or exiting, he teaches the set ups separately. All I wanted to do was enter and exit on a simulator and record what happened. On Day 1 I recorded 34 trades, with 29 winners and only 5 losers. I traded a standard 100 share lot, and made a meager sum of about $100 for the day, after commissions. Chris was trading about 500 shares average and made about $500 for the day.

Days 2, 3, 4 and 5 were more of the same. About 30-40 trades each day, with profits averaging just short of $200 for the day. This might not sound like much, but considering that I had nearly no draw down, and that the room was active, easy and pretty fun to trade, its really hard to find something to be critical about. I was really impressed that a simulator set on the most conservative settings could actually replicate very closely what Chris was doing.

One thing that sort of concerned me was the amount of commissions that were being paid out to trade this type of trading style. I emailed Chris and discovered that he spends an average of about 15% of his profits on trading commissions. Folks, you cannot make any money with this if your account is with Schwab, Scottrade, Etrade or any normal retail broker. You need to go for the thinnest possible trading commissions to make any real money with this.

Another Consideration

This is a highly active stocks day trading room. And stocks day trading means that if your broker is located in the United States, then you must either keep and maintain a balance of $25,000 or keep your day trades to three or less. Most people do not have $30,000 in available minimum money. So then this leaves two possible solutions. The first is get a series 7 license and trade through a prop firm. The second option, and the easiest option is to open a prop trading account in a another country that is not bound to US trading regulations. If this seems sketchy to you, it does for me as well.

What Does Day Trading Power Recommend?

In speaking with Chris, he uses a prop shop located in Ontario, Canada. The name is Nonko and you can read more at www.nonkotrading.com. If Canada seems a little too sketchy, then please review my United States based stock trading prop shops. They do require a series 7 but at least you have an extra layer of security knowing that the company is located in US. Regardless, I do not believe that this should not be a major hindrance to getting into the game.

Wrapping Things Up

At the end of the day, I am really impressed with Day Trading Power. Chris is honest and he really cares about his “tribe”, he takes his time to make sure everyone knows exactly what he is doing with his trades. Everything is very transparent and open, no limit order fake trading that we see so much of in the trading education community. This guy really trades, and he really does make money. Yes, he trades a scalping style that can be faster paced and expensive, but the upside is that the trading days moves pretty quickly and is quite entertaining.

Advice For The Newbie

If you take the plunge on Day Trading Power, I recommend that you start with simulator for the first week. Do your best to copy exactly what is happening. Do not focus on the why, just focus on being a clerk. Copy and master your entry and exit orders, you will thank me later. If after a week, you were able to copy and make a profit with the simulator, then I would recommend purchasing the manual which contains all of the set ups. The cost is $150, which in my opinion is hardly anything. Once you have the manual, then you can start to really synthesize the what and why of Chris’s methods.

Once again, thanks for reading. FYI, I am in the process of opening a prop account and will be trading a live account in the weeks ahead at Day Trading Power. Check back with me for an update on how things are going with my trading. And don’t forget to leave comments below.

 

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128 Comments on "Day Trading Power Review"

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Ali
Guest
He puts out high volume picks, trains you one on one with a demo account that he has access to, asnwers private message questions when you’re down or need advice when to sell, and consistently picks stocks that go up 20%- even 1000%. I’ve been a member of his room for about a year. He says invest an amount of money that makes you unemoti0nal, and tells you not to trade until you’ve demoed his trades for AT LEAST A WEEK. I don’t know what else you want in a room….The stock market is inherently risky, and nobody can change… Read more »
Vytautas
Guest

Emmet, give more options to people, they can open multiple broker accounts. Trader, if you read this comment go to your broker and ask if they can open multiple accounts. Interactive Brokers allows this.

@vytasm

Joe
Guest

I use Trade Ideas scanners. They have the best trading software in the market in my opinion. They also have a free trading room that is live. Can’t go wrong with that. This has been a life saver and I recommend them to everyone I know. http://www.trade-ideas.com/

sam
Guest

I took a trial. I counted on average about 50 or so members in the room. The winnings were on average barely breaking $100 a day not counting a lot of commissions sometimes just breaking even. I didn’t see the 85% success rate. Yes, it has been a terrible market starting this year. It was fair enough that the entries and exits were called out and the results updated on notepad window on the desktop. Unfortunately I felt it wasn’t for me and discontinued.

gunfsh
Guest

hi Emmett,
if this DTP has really more than 85% of success trading rate as you verified, why he want to run this chat room and only $100 +/month per person? only $10k/month even there are than 100 subscribers? why not he keep his strategy himself and make more money himself?

erjan
Guest

hi all, i was part of Mojo day trading. he is a scammer, i made a FULL and honest review of this BS.

this is my full video: https://www.youtube.com/watch?v=u1KItogUtU0 .

watch this before you join this scam! don’t be naive. i m his former client.

erjan
Guest

lot of information about mojo in my review:

1. his customer service.
2. fake disclaimer he changed
3. assault on old golf player
4. mojo university BS

again, dont’ join this guy

gunfish
Guest

hi Erjan,
this is the review for DTP, why you put the review for Mojo? do you mean Mojo and DTP are the same trading room?

fort_roach_croach
Guest
fort_roach_croach

they are not the same, i have never tried DTP, there is no separate thread review on mojo, somebody mentioned it in this thread. so the discussion on mojo started here

Willie
Guest

Why did you take down this video? Do you stand by what you said in the video? Did MOJO Mike pressure you to take it down?

erjan
Guest

he pressured me to take it down, said he would start lawsuit on me.

Willie
Guest

I cant imagine you could get in any legal trouble for posting an honest review of your experience with a company but im not a lawyer.

Willie
Guest

Start one lol thats a funny idea and Im sure it would bring you plenty of traffic. A win win ?

erjan
Guest

To Willlie, and Emmet: great conversation you had here.

Emmet, i m looking forward when you start a separate thread on forum of the mojo.

erj
Guest

to willie: when you join the room you electronically sign a disclaimer that says something like ” i will not post negative review online”.

so if a user does, he can sue him. stupid thing.. anyways i hope this review i have online will help people to avoid this bitch.

Rob B
Member

Actually this is a big issue as hotels and every business will put in some disclaimer stopping people from posting a negative review. Personally except for a few exceptions, I think you a contract cannot overwrite ones 1st Amendment. In fact I know in Real Estate in a Lease you cannot enforce some clause that goes against the law. I will have to check but I thought there was a law they were trying to pass on this matter, otherwise I guess it will be up to the Supreme court to decide.

Interesting Topic.

Willie
Guest

What do you think about his 98% win rates? How accurate do you believe this to be?

Rob B
Member

98% win rate. He must be micro scalping for 1 tick. Win rate means nothing as the 2% lose rate can wipe out all the wins and your account. Go for small little gains with hugh stop losses and you will have a high win rate. Tells you nothing about profitability. In fact when I see a super high win rate I think super high commission costs.

W
Guest

Rob makes a good point and its important to consider these factors. Not enough traders do.

sneaux1
Guest

mojo review online again

i have found the review was uploaded again

W
Guest

WOW! Glad Erjan decided to repost that. It is sad, but the truth needs to come out about MOJO Mike. He is really onto something if only somebody would dig deeper. I can’t think of anyone who would fit that bill though, as Emmett has been bough out by the man himself.

W
Guest

Why dont you review MOJO then? Its not laughable. You know he is full of shit and hurting people. Id love to see your comments on his 98% win rate on 300 trades. Any trader knows how realistic this is.

sam
Guest
I think Emmett made a mistake giving the Mojo guy too much leverage in order to get access to the room. However he said it was the only one of the kind, and in recent reviews he hasn’t done a deal like that again. A lot of these scammy vendors have clamped up like a stinky uboats on red alert and trying to lay low. Like Yousef said on his GTR rant, he actively tracks IP’s of all members. Some rooms now make new clients sign NDA’s to even attend the room. They are on to tradingschools and paranoid their… Read more »
hitachi dog
Guest
hitachi dog

after reading about this deal between mojo and Emmet, i guess i see what happened: mojo mike asked Emmet to not post anything – nor negative, nor positive review and paid him money. Initially Emmet wanted to post a negative review, but mojo opposed it and decided to not post anything!

in any case this scammer mike got busted on this website and deservingly so!

W
Guest

Part 2! LOL Erjan went in on MOJO https://www.youtube.com/watch?v=QOAq6C3PZK8

Willie
Guest

He is not masquerading. He is clinically insane.

sueyou
Guest

typical. The worst of these scammers result to thug and fear tactics. I remember David Kuvelas of oiltradingacademy.com often threatening every trading forum he was kicked out with lawsuits. Often mentioning how he would knock offender’s teeth down their throat LOL.

“sue you, and you and you ….. ……”

W
Guest

I dont think the court case would turn out well for MOJO

Jon
Guest

Yes, Mojo Trading is not only a scam..he is totally mean to people in his chat room and all he does is try to get you to pay more money for his classes.

Seriously mean guy and didn’t make any money. I also suspect the traders he keeps talking about who he claims made money are fictitious.

Jake
Guest
Has anyone here purchased the course (Daytrading Course: Learn the DTP System – $349) and viewed all the components of it? If so, does it accurately teach what he’s doing each day in the room, and can it be replicated without Chris being present? I’m in the business of learning how to trade this scalping style, not to simply mirror him. Why don’t I want to mirror him, even if it works? For one, I’d like trading to become my primary source of income, and I’m ready to work hard for it. Two, I have pride in my income and… Read more »
Mike
Guest

Jake, Your not going to learn anything from his course that you can’t learn online yourself for free. I took it last year when he offered it for free. His strategy is basically making 10-20 trades a day to make a profit. There are better and less stressful ways to trade. I would not recommend his course or “system”. He used to brag about making 1-2k/day on stocktwits and now he makes a fraction of that if you look at his self reported “spreadsheet” results (which don’t even include commissions).

Jake
Guest
Mike, Thanks for the info! I’ve also noticed that his winnings are much smaller than they used to be, but he’s also significantly lowered his position sizing. I’m not sure why – maybe it’s because his room is getting more and more popular, and he’s trying to make it easier on his subs by using a size that they can relate to. Or maybe it’s something completely different. Either way, his statements show some pretty good accuracy and consistency, even though he doesn’t show commissions. I’m also aware (like, surprisingly, a lot of people aren’t) that having a broker that… Read more »
Mike
Guest

looks exactly the same as what I remember from a year ago. Just Google most of the topics yourself and you will get better info than what he offers for $349, the ones with silly names like slippery peet and infinitrend have no value and I don’t think he makes $ using them but I guess it makes it seem like he’s offering something unique and of value. I actually thought the other guy in the room bones who’s also has a course was a much better trader than him. I never took his course though.

Jake
Guest

Okay, I see what you’re saying. Thanks for the info, I’ll do some research and continue to look around. Any recommendations for good courses out there?

Jake

TraderD777
Guest

Jake… i would highly recommend taking a look at the SamuraiTrader course… look up SamuraiTrader on youtube… if you find it interesting… shoot me an e-mail and I can give you some details! Good Luck and Happy Trading!

sam
Guest

I gave it a trial. Way too little to be worth it trying to trade like that the whole day without counting commissions and going for such small scalps often like Warrior. So the only way to make money is if you are the host trading and also getting monthly subs. not worth it imo, irrespective of history of previous success. Maybe the stock market isn’t sclapable anymore the past few years.

gunfish
Guest

hi Joe and who had ever in the chat room:
in the chat room people just follow the instruction Chris gives out and can make money by putting the limit order or market order?
does anyone has the idea that how many subscribers in DTP chat room? more people with more buying /selling power will definitely affect /decrease the opportunity to make money if every time all people are buying /selling the same one stock.

Henry
Guest

Hi Joe Smoe,I have a question concerning account size. I am guessing most people in Chris’s room have account size larger than 25K ( minimum required to day trade, if they are US residents), won’t him bumping everyone up to 1000 shares per trade not have any significant impact? 25k account has a lot of purchasing power.

Joe Smoe
Guest

bigLou,

Most of the stuff they trade is pretty liquid. They will trade stocks as low as $2, but they are def not penny pumpers. They will typically rather buy Fibonacci pullbacks on any pumps. Not enough power to initiate a pump really. they also seem honest enough not to do it.

Joe Smoe
Guest
Hey Andy, I am actually a member in the room. Chris is a very skilled scalp trader. The results posted on his website are very close to actual trades he calls out in the room. Why does he not post actual brokerage statements? Well the obvious reason is he doesn’t want you to see commissions and slippage. The slippage is real, and is likely to become more of a problem for his subscribers in 2016 as he strives to bump everyone up to “1,000 shares per trade!!” yikes, you heard that right! Even if you have a small account, Chris… Read more »
BigLou
Guest

Joe,
how liquid are the stocks you guys are scalping? Are they triggering long and short on momentum or TA? I guess its up to the trading strategy and risk management, I hope they are not penny pump and dumps on those 1000 shares. GL

Andy
Guest

Test…
I got two posts not visible. So there is a strict policing on this site??

Andy
Guest
Does anyone here believe that someone claiming that they can profit consistently week after week month after month with no fails would bother opening a chat room? Also when they post results, why not just post actual trade logs from their trading platform? Why the spreadsheets that can may be fabricated? At least I was not able to get ones from Day Trading Power. I believe that trading can be profitable, but it is almost impossible to make “sure” income.With tested and proved strategies people would inevitably suffer drawdown at unknown time, not to mention mediocre or even lousy traders.… Read more »
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