Trading Stocks

I was looking around on youtube and ran across this guy
http://www.youtube.com/user/futuresanalysts

I went to his stock trading site called www.livewithoscar.com

I signed up for his site and tried to take some of his trades.

After a few days I thought I had the free flashes figured out so I started trading them.

I lost some money while it looked like his premium room was making money.
So I signed up for his premium room, and in May 09 I ended up loosing around $3,000

Part of the problem was that I was just not familiar with his technique.

The other problem is that he frequently says to get out of 50% of your position, so it makes it hard to trade 1 contract, so I started trading 2 contracts.

Then most of the time when he is in a loosing trade he does what he calls defending his position, which means that he adds on, so now to just keep up with the basic trade you have to trade 4 contracts.

He is a little superstitious about telling where his stops are, because someone might run the stock market there to hit his stops, so he says set your stops below 920. So I set my stops for 919.75 which is a quart point below. Well as it turns out when he says below, he means 2 or 3 points below.

So that little mistake cost me about 10 points, because on one of my first trades the market went straight down and hit my stop and then turned and went back up 10 points, he was still in and got his money back while I was out 10 points.

But the bigger problem is that he usually trades all night, I was thinking that I could just get up place the trade then go back to sleep. But some nights he will issue 5 flashes, about one every 2 hours. The other problem is that he will some times tell you things in the chat room like everybody is out of their positions now.

Just enough stuff to where you really need to follow the chat room while you are in trades.

I have a heart condition where I really have to sleep at night, if I don't I will probably wind up in the emergency room again, so I decided to start taking the trades during the day.

Most days he has a trade he calls an AD trade that happens during the afternoon, so in June I started taking these trades and just not doing the night trades. The AD trades are suppose to be the highest probability trades, but for June I am down 21.15 points.

I am going to paper trade his AD calls for a while and if he can get back any of this money I am out. If not then I guess I am done with this site. If the AD trades can get back to even then I will consider trading them in my live account again.

I also ran across this site: http://www.timothysykes.com/ I like the idea that Tim has about trading penny stocks that have been pumped up for a couple days, and catch some of the drop when they fall.

June 25, 2009

 Timothysykes.com Selling Penny Stocks