Day Trading Power
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Honest
(5)
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Quality
(5)
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Verified Trades
(3)
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User Experience
(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.
User Review
( votes)
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.
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 that for you, but from what I’ve seen in being a member of his room for so long, is that he does care. He’s not just outright scamming people. You just suck at trading, or took way too much risk. To the guy who lost all that money, too bad for him, shouldn’t of bet more than he was willing to lose . Day Trading is very risky if you arne’t careful. Mike always trades in a risk averse fashion. He doesn’t tell you to go all in. All these people are just butthurt they lost money in his room by trading irresponsibly
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
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/
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.
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?
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.
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
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?
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
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?
I made a deal with Mojo Mike a year ago. If he gave me open access to his trading room and gave me open and full access to everything, then I would give him first right to refuse the publishing of the article. I didnt publish the article. What does that tell you? Read between the lines.
1.yet you did not make a separate review page on mojo – it seems to me you and mike just had a deal, he sent you an email, offering a deal or cash if you don’t make ANY review.
2. “read between the lines” – instead of vague comments like this, why dont you just show all details of the deal you had with mike?
writing comments like this is only confusing.
I have nothing to say about Mojo Mike. You should make up your own mind. Sorry that’s not what you wanted to hear. Maybe you should write a review and I will publish it? Does that work for you? It works for me.
there is no contact us page on this website.
i can’t contact u. how can we talk tet-a-tet?
do u have email? pls reply to my email.
How can you have nothing to say about MOJO Mike? What about his MOJO Fund he is always bragging about? You had a lot to say about the Clique Fund run by your nemisis Cammy Fous. I respect you a lot, but it does seem fishy you don’t want to say anything about MOJO Mike.
Somebody posted a video with legitimate criticism from their experience and he threatened a lawsuit?
Willie, I disagree with the deal Emmett made with Mojo, but Emmett said he made the deal and he is living up to his word.
My 1st request would be for Emmett to release all the trading rooms he made a similar deal with. And my second request is for Emmett not to make such a deal in the future. If they are running a con they get no immunity
I am curious as to the exact reason why he would want to protect MOJO Mike? Surely Emmett Moore, who we can all agree is an expert on finding the rat, can look at the MOJO website and realize that month after month of 95-99% accuracy is just a joke! I have even seen MOJO Mike claim on Twitter to have 600 winning days in a row. We are made to believe that this is not a problem?
I would agree about keeping up with the transparency showing which trading sites tradingschools.org has a deal with. The reputation would be superior to other popular trading forums. I noticed a more cookie tracking links today. Among the usual facebook, and google Ajax cookies, there was “Lijit” , http://www.sovrn.com/company/
I agree! It was a crappy deal. And the only time I made it.
I don’t mean to diminish Emmett. He can write whatever he pleases and make any deal he likes. It is his website I understand that. I just dont get why he would go easy on MOJO Mike when so many in the community have had bad experiences? Why would he choose to make a deal with him of all people? He gets on people for many things MOJO M flagrantly does and I think thats a strange double standard.
he pressured me to take it down, said he would start lawsuit on me.
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.
Hi Willie,
The bigger issue is that of journalistic integrity. If I make a deal with a vendor, I have to stick by it. Its obvious that I don’t like the guy. Else I would of drafted of positive review. The deal was straight forward, I gave him final input of my review. It was a terrible review. He got final input and we could not agree on the review. However, does it really take much effort to figure this guy out?
I have a great idea! Lets start a forum thread on this blog dedicated to Mojo. This way people can write about their experiences and how upset they are. Does that work for you?
Emmett
Start one lol thats a funny idea and Im sure it would bring you plenty of traffic. A win win ?
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.
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.
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.
What do you think about his 98% win rates? How accurate do you believe this to be?
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.
Rob makes a good point and its important to consider these factors. Not enough traders do.
mojo review online again
i have found the review was uploaded again
https://www.youtube.com/watch?v=LgwgF2qFF54
Did you find this review helpful? Yes No
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.
https://www.youtube.com/watch?v=LgwgF2qFF54
Bought out? Laughable.
On a more serious note, am drafting a new review for Day Trading Power. Its not looking good.
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.
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 scam will be busted. That , said your posted videos of Irjan reviewing Mojo are appreciated. I think most visitors can see those links while reading this thread.
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!
Did you find this review helpful? Yes No
I should be getting paid for this crappy public service work. Lol.
If I only got paid for the negative reviews, I would be rich! Seriously, I have been pretty clear on Mojo Mike. We had a deal and I kept my word, no monies involved. With that being said, MojoMike is a ridiculously easy trading room to figure out whether its real or not.
Truth be told, MojoMike is a ridiculously entertaining person. The golf course incident, the wacky videos, the constant fighting with just about everyone, he is like the Jerry Springer of trading rooms. Its all scripted zaniness. Does anyone really believe any of his antics? Wake up people, its a daily talk show masquerading as a day trading room.
Part 2! LOL Erjan went in on MOJO https://www.youtube.com/watch?v=QOAq6C3PZK8
He is not masquerading. He is clinically insane.
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.
https://www.youtube.com/watch?v=EmhmyBbo_Ms
“sue you, and you and you ….. ……”
I dont think the court case would turn out well for MOJO
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.
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 don’t want to blindly copy someone and not know what to do when he’s gone. What if he decides to retire, or, God forbid, gets hit by a truck? What are his subscribers going to do? If they haven’t learned how to maintain his consistency and accuracy without him holding their hands, we have a problem. I know it won’t be easy, but with study and practice, it should be doable before I’m willing to purchase. I read through all the comments (very helpful by the way, thanks for your thoughts everyone) on this review and I recall one of the comments mentioning – “Chris was out seeing his grandma one day and no one in the chat knew what to do”. Huge red flag for me. Hopefully the majority of his chat users are just sheep looking for easy money (which is what most rooms are filled with), for my sake. I’m very interested in this style of trading, and want to pursue it. I already know a good amount about trading and know my way around active software. I have a reliable brokerage with good commissions for active trading, and of course I have $25k+ to work with.
If you’ve purchased this course, please let me know how it went (I’m aware of how Chris’ room works, mainly interested in his scalping course). Every detail would be much appreciated.
Best regards,
Jake
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).
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 provides a per-share charge, along with a liquidity rebate system will significantly lower the commission costs when actively trading. And, when you’re better at the system and up your share size, your profits will outweigh your commissions by quite a lot.
There’s no system or strategy out there that can suit everyone, and is the absolute best. No matter how good a trader is, or their system is, there’s always going to be something better or worse they could be doing – in my opinion. In my case, I love active trading. I’m comfortable with the risk, I have the time to dedicate to it throughout the day, and I think it’s one of the best ways I can make money. I’ve never been in Chris’ room and not sure I’ll ever be, but watching his room (https://youtu.be/Uv9E7OmFqjA) on YouTube makes it seem like his style matches mine quite well.
One more thing, are you sure his course hasn’t been updated at all since you viewed it for free? If you could do me a favor and check these bullet points (http://daytradingpower.com/p_daytrading-course-learn-the-dtp-system_p/) to make sure they match the course that you obtained for free, it would be much appreciated. Maybe you got a simplified version, or something different than what he offers now for $350. Like I said, I’m decently well-versed in technical analysis, so I’ll find no use out of some course that teaches broad topics that I’m already aware of.
Regards,
Jake
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.
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
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!
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.
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.
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.
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.
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 wants to help you find a way to leverage as much as possible.
I would assume Chris uses stop limit orders vs. stop orders, for example, to help offset some of the slippage effect. And given that his orders show up in exchange ques before subscribers, slippage is likely less of a problem for him.
Also, occasionally, he is unable to call out a trade in advance, and price has already moved a few pennies after he’s announced. Then, as a subscriber, you have to decide if it is still worthwhile to get in. Considering that the average SKILLED day trader makes only an average of 3 pennies per share (6 pennies per trade)!, it is typically better to pass on the trade. I would assume Chris being a top trader is no better than 3 pennies per share (maybe 4 max).
I am concerned about Chris’s plan to get subscribers up to 1,000 shares per trade. It sounds great in theory because Chris is very accurate and drawdowns are minimal. However, the only person that is, for lack of better word, guaranteed to make money is Chris and George. Why? Because they are first in line for every trade (at the actual brokerages, where their limit or stop order get there before yours). Also, the fact that they are not showing their brokerage statements means they can cheat and sell a little on the initial move that would be created by volume from subscribers. In my opinion, Chris is entering a dangerous game w/ regulatory (i.e. frontrunning, security price manipulation) by encouraging more volume to wherever he places his trades.
So what will happen when everyone increases their size to 1,000 shares? We all make more $? Chris is hoping that is what we will believe, but there are some smart fish in the room. I do think it is possible that everyone can make more $ on the large caps–like NFLX and TWTR, for example. But anything that trades less than even 750K share? on the day will not be profitable for subscribers.
What will ultimately happen, you can already see happening in the room. Cheating. As one example, it is people cheating on limit orders. Chris is missing more profit exit targets lately. In my opinion, that is partly because some subscribers are placing their profit target just a penny below the room target to ensure they are hit. Hmm.. See where this is going? It’s like the prisoner dilemma, where each subscriber including Chris & George cheat more and more, until the inefficiency becomes more of a flat line.
Chris and George are excited about the prospect of everyone making more money, and I think their intentions are at least 50% genuine. But what they should know, is that we know, it may not work. Given that this whole site is about honest services, imo, they will eventually realize they should encourage subscribers to go full size on large caps, but only small size on small to mid caps. Because even capping the room at 100 subscribers will not solve the problem when large share size.
Please anyone feel free to refute this opinion!
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
Test…
I got two posts not visible. So there is a strict policing on this site??
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. Extra bucks from wanna be dreamers surely can make up this income gap, hence the chat room, education, mentoring, etc. There is another guy recommended by this site charges almost $3000 for monthly one day course on how to develop a “potentially” good trading system. Think about it, if there were 10 idiots globally every month getting hooked, it will translate into $30,000 monthly income. An the probability of fishes getting hooked is way higher than winning trades.
My point is that trading can be profitable at times. However, the uncertainty will be here to stay until you figure out a way to squeeze money out of day dreamers…
I signed up for a lot of trading chat rooms and decided I would spend the money initially to weed out for myself what worked for me and what didn’t. Out of about 10 chat rooms this is one of the two I am keeping. Everything is user friendly for a new trader like myself. The bids are announced and posted before the trade, and clear exit and target amounts are also posted. This is one room I can follow and duplicate on 90% of the trades. You do need cheap broker fees because when you are in and out for $10-20 dollars on some plays it would not be worth it if you had to pay larger commissions. At the level I trade (beginner with small amounts and low risk) I am not making “big” money but small consistent profits each day which are within my comfort level and never an amount that I cannot afford to lose on the few losing days. This is a hobby and not a living for me so if I bank $50 to $100 per day I am happy and this room is perfect for my needs. Also since everything is posted in a clear fashion I can hide the screen under my other windows at work and trade between clients or as I can without losing money as after the trade is executed I put my stop and stop loss in.
In reply to Main Hun Don, first of all let me say that I am a member of a few rooms for a few different reasons. Chris’ DTP is one of my rooms I’ve been with for a long time. I find it unfortunate you are willing to call his room a bust based on a small sample of George’s trades. MBA George has only been calling out trades for 3 months, and he averages maybe 1 trade a day alerted vs the 20-30 you get from Chris every single day.
George is not advertised as a protégé, he is simply there for added insight into bio tech stocks, and to announce an occasional trade. To be honest, I think George has only gotten maybe 5 trades wrong out of maybe 30 or so I kept track of, which is a pretty good average. For you to base your entire review on what George did 1 afternoon, while Chris visited his grandmother that he never saw his entire life for the first time is weak. Chris is very accountable and present, and the room is very active all day. Just wanted to clear that up because obviously you have a bone to pick with George for some reason and I don’t think it should translate into a negative review for Chris’ room.
Firs off let me start by saying that Chris at DTP is an excellent trader but that’s where this story ends. When Chris is not in the room identifying scalps the room is dead and no money to be made. Secondly the scalps are very small. On Oct 9th we traded around 20 times with a net of $300 total for the day excluding commissions. The max on a winning trade was $60.
The worst part of this trading room is Chris’ protege someone called MBA George. Day 1 while Chris was away for a lunch meeting with Grandma, MBA George lost us about $200 in two trades. The guy is gun shy and not sure about what he is doing. He is great at telling stories though about his personal life and food and eating Pizza and chips while talking into the microphone but when it comes to picking trades I think my 6 yr old can do a better job. His favorite lines being ” this is weird”, “interesting” , “oh I completely missed that move” and that’s the only thing you can count on from this guy.
Another thing which I noticed was when we are having a losing day Chris will just say “”OK I am done for the day” and leave while there are still 2 hours remaining the trading day. Then you are left with MBA George losing you more money and telling you more stories on how to treat women while a stock on the watch list jumps a dollar and he totally misses the move.
Overall if you have time to waste and money to lose and listen to odd ball stories all day from a person who thinks he can trade while losing your money this is the place to be.
I am not sure what Emmett was smoking while giving this service such a high rating.
Main Hun Don,
Found your comments interesting. Maybe Emmett is grading on a curve. Most Trading Rooms are such a complete joke, even one that seems half way honest is a 5 Star. But I do think you have a point. Maybe there should be some stated criteria by which star ratings are given. After all what is the difference in a 3 star .vs 5 star. My guess is there are sooooooooooooooooooo few even 3 star rooms; Emmett has not worried about it. In fact in my opinion most of these rooms deserve minus 5 stars. But I am a bit tougher than Emmett.
Main Hun Don ,
I just spoke to George online and he told me about this post. To which he was laughing hysterically at some of the things you pointed out (primarily the “missed it” and “pizza” comments. MBA George is tepid on trades, I will give you that, since he doesn’t gamble on entries, rather uses specific tools to target his entries. However, he did not cost the room $200. In fact, to his merit, there has only been 3 to 4 trades since he has been a mod in which he had to average down a bit to get us out break even/ profit out of 50-60 trades. I can’t even count how many times I’ve made full dollar+ scalps from him announcing info to the split second on a stock that is moving rapidly, or playing some of his bio picks where you could swing a buck or two scalp easily. What I am missing is his input on playing Earnings. When he was playing them, we would average $500 to $1000 a week alone from those after hours plays. But that’s the thing. he would spend hours researching and since he has been taking care of his pop, that time is now limited. He is extremely well educated, has a heart of gold, and has even provided us with books on day trading. He brings so much value to the room and lifts everyone’s spirits up (which is worth its weight in GOLD when you factor in the stresses of being a day trader) , that if he were to leave, I’d follow instantly. Furthermore, the room has other people in it that share expert information and bring more value to the table. Many of the people in the room have grown knowledge from being there and now run their own scanners, call out supports and resistances, and even call out their own plays to share. Chris is great at what he does, and the other mods are as well.
Still I think the fact that Chris was pushing people to nonko and banking the commissions was wrong!
Agreed. However, the trading rooms that were pushing Nonko did not know that Nonko was a scam. They found out, after I published the update.
Don’t forget to file a complaint against Mike Rich from mojodaytrading.com also as he was the trading room owner that started promoting Nonko the most in the first place. At one point Mike had over 100 traders with Nonko. If you traded with Mike in the past and had a Nonko account, please make sure Mike gets reported also as he is a US citizen he is heavily liable.