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bontrade.org - CL trading room

  #23 (permalink)

Trading Apprentice
Houston Texas USA
 
Futures Experience: Intermediate
Platform: Ninja
Favorite Futures: Futures
 
Posts: 1 since Aug 2011
Thanks: 0 given, 1 received

Bontrade

The Chart calls are tracked and stored and were at one point emailed out. They are "incorrect" at best. The chart calls may have been posted on the chart but the stops are ignored. Here is a typical scenario.
The first call is made: Buy CL 95.00 (so you go long near there)
Then this: Reduce CL 95.10 (so you may get this also)
then price drops way down and you should have stopped out at break even but then 20 minutes later price moves back up and.....
Reduce CL 95.50 is posted

So now you ask the room "did I miss something, i thought we were stopped"
The question is either ignored or answered like this "well, you need to pick your own stop based on your own risk tolerance".....which is true, unless you are following their system which calls for the stop to be break even.

So lets look at the opposite situation.

Buy CL 95.00
Reduce CL 95.10

now price drops down and never comes back up. So you ask the room..."where did we stop out at?"
Now once again you are either ignored or your answer is this, " After the first reduce we normally move stop to even, but thats up to you."

You can however rest assured that the results posted on the site will definitely favor the moderator. So by the end of the day, the chart will show that the room made 160 ticks and you will be sitting there holding your ten ticks pissed off. That is of course if you didn't take several stop outs before that (which you will get often).

Be prepared to be ignored on technical analysis questions unless you have paid $4,000 for the manual.

Almost no calls made in advance. Stops never specific. And the records of calls are just simply far from obtainable.

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