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  • Gold To Market: Are You Not Entertained? [View article]
    "We all know it is possible to generate trades using strategies by simple backtests."

    Actually no. All my trades are posted in real time. If you looked at the links I posted, you would see that.

    Still didn't get an answer from you when did you close the CSIQ trade. Truth hurts, I know. But at least be honest with yourself and your readers and don't post false results, as you did with CSIQ and ULTA.
    Aug 19, 2015. 03:35 PM | 2 Likes Like |Link to Comment
  • Gold To Market: Are You Not Entertained? [View article]
    "I do believe that one can profit from trading 3X ETFs though and don't promise the moon but rather a simple "follow the trading rules."

    Absolutely! Not my style, but many people are successful doing it. The key is position sizing and being aware of the risks.

    My point was about holding long term.
    Aug 19, 2015. 03:18 PM | 2 Likes Like |Link to Comment
  • Gold To Market: Are You Not Entertained? [View article]
    You see, this is exactly the problem:

    Unless you post trades in real time, with exact entry and exit prices, all this bragging is worthless. What can you expect when someone cannot do a simple math (presenting a 26% gain in ULTA as 30%+ gain)?

    btw, we just closed QIHU straddle for 22.9% gain, in 4 hours of holding. Everything fully documented on the forum, with timestamps and screenshots of my fills:

    http://bit.ly/1TW529L
    http://bit.ly/1TW501G
    Aug 19, 2015. 03:15 PM | 1 Like Like |Link to Comment
  • Gold To Market: Are You Not Entertained? [View article]
    "The last CSIQ was an earning trade and was exited last week. It was a calendar that expired last Friday. The result was not profitable on net basis. It was a loss of about 8% or so when I closed them earlier last week."

    The trade was down 30-50% most of the time last week. I'm wondering when did you close it because being out at only 8% loss would require almost perfect timing.

    Of course this is not something you would post in real time. This is how you make impression of 70% winning ratio.
    Aug 19, 2015. 02:48 PM | 5 Likes Like |Link to Comment
  • Gold To Market: Are You Not Entertained? [View article]
    If I recall correctly, CSIQ was opened for 0.60 debit. On Friday it was trading around 0.30-0.35. That's 40-50% loss. This is what happens when you ignore negative gamma.
    Aug 19, 2015. 02:38 PM | Likes Like |Link to Comment
  • Gold To Market: Are You Not Entertained? [View article]
    Well, we both know there is no holy grail, and whoever is telling you otherwise, is simply lying. No strategy will have 100% winners, and no strategy will work under all market conditions.

    But Prechter's record is not even close to 50%, it's particularly bad, and he is relying on EW. So you are saying he is not doing it correctly? The problem is not the strategy but how he is using it?
    Aug 19, 2015. 02:34 PM | 1 Like Like |Link to Comment
  • Gold To Market: Are You Not Entertained? [View article]
    So how your account gained 136% if the trades gained 105% and you allocate half of the money?
    Aug 19, 2015. 02:30 PM | 1 Like Like |Link to Comment
  • Gold To Market: Are You Not Entertained? [View article]
    Robert Prechter is the president of Elliott Wave International and is considered an authority on the Elliott Wave.

    However, this guy has one of the worst track records. Take a look:

    http://bit.ly/t2hr5r

    Prechter was ranked the last out of 68 gurus, with only 20.8% accuracy.

    For instance, Prechter advised his subscribers to short the U.S. stock market using 200% leverage in November 2009.

    And all his "forecasts" are based on EW.

    So who's to blame: Prechter or EW?
    Aug 19, 2015. 01:01 PM | 3 Likes Like |Link to Comment
  • Gold To Market: Are You Not Entertained? [View article]
    "The good thing about the market is that when one attains that competency you can easily turn $10k to $millions with confidence."

    Unfortunately such baseless claims make a bad name for the whole industry. The goal of such claims is clear - to attract naive newbies to pay $2k in advance with no track record, no free trial and no refunds.

    When they find out that trading is a hard work and it is not easy to turn $10k even to $100k, it's too late.

    I fact, if you make even 50%/year and do it consistently and with reasonable risk, you will probably belong to the top 1% traders in the world.

    Words are cheap those days..
    Aug 19, 2015. 12:21 PM | 2 Likes Like |Link to Comment
  • Gold To Market: Are You Not Entertained? [View article]
    Many people will tell you how they double their account every 1-2 weeks with those ETFs. Of course their results are usually posted in hindsight, not real time. But even if it was true, what they "forget" to tell you (or maybe just don't understand) is the amount of risk they are taking. All it takes is 3-5 bad trades - and your account is toast.
    Aug 19, 2015. 12:08 PM | 2 Likes Like |Link to Comment
  • Gold To Market: Are You Not Entertained? [View article]
    EW experts, what do you think about http://bit.ly/HcZ42y?
    Aug 19, 2015. 11:06 AM | Likes Like |Link to Comment
  • Gold To Market: Are You Not Entertained? [View article]
    When you say "My account actually gained 136% in ten days." - does it mean your whole account is allocated to a single leveraged ETF?
    Aug 19, 2015. 09:25 AM | Likes Like |Link to Comment
  • Gold To Market: Are You Not Entertained? [View article]
    Actually. leveraged ETFs are intended to short term only. They are terrible for long term (unless the underlying goes straight up). In a choppy market, you will not nearly close the performance you expect over the long term.
    Aug 19, 2015. 09:22 AM | 1 Like Like |Link to Comment
  • Gold To Market: Are You Not Entertained? [View article]
    You opened at 10.84 and closed at 13.69. That's 26.3% gain.

    Makes me wonder if this is how you calculate all your gains that you present here.
    Aug 19, 2015. 09:17 AM | 1 Like Like |Link to Comment
  • A Good Option Strategy: Exploiting Earnings - Associated Rising Volatility [View article]
    Mike,

    So far I'm following two of his trades:
    1. ULTA was closed for 26% gain, yet he posted on another article "closed for 30%+ gain". This alone should make you question his credibility (or simple math skills).
    2. QIHU is currently down 26%.

    I'm not following LT track record and not questioning it (although the ULTA example alone makes me wonder how accurate it is). This is not about his track record. This is about a specific issue regarding the straddle strategy.

    I'm questioning his claim "works better than 90% of the time and could yield better than 50% in most cases." and his claim that the best time to enter is a month before earnings. So far I provided full evidence why those claims are false - he provided none. All he does is claims for some kind of 'secret formula".

    btw, 70% by itself means nothing - you can be wrong 70% of the time and still lose money. Even if you are right 90% of the time, make 5% on winners and lose 50% on losers, you still lose money.

    My first duty is to my members, and I'm not going to post trades while my members pay to get them. As I mentioned, full details of all trades are available on my forum (with free trial). Can you say the same about LT who does not post track record on his website but charges $2k in advance with no free trial and no refunds?
    Aug 19, 2015. 12:38 AM | Likes Like |Link to Comment
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