Independent Review of WallStreet1928

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MajorDutch

MajorDutch

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Hi

Not sure if this is the right place for this so mods feel free to move it. I subscribed to WallStreets1928 live service for the last month. I will be posting here in this thread a review of the last month of his live trade calls. I subscribed to verify the claims on his thread. I will update here soon.

major D
 
Hello there. Looking forward to see these calls. My OH keeps bugging me to sign up, because of my mixed trading results :)
 
Right let's get started. First a bit of background and why I am doing this. I have been trading for around 3 years now overall I have lost money but recently have started having some success trading the H4, Daily/Weekly t/f's as per the James16 methodology. I am not in any way affiliated to James16 however out of the all the vendors I have come across this is the only one I have found to date that is worthwhile. A while back I took a look back at the WallStreet1928 thread (WS1928 from now on) and saw some pretty bold trades and frankly wild language from WS1928, it's fair to say there was a fair bit of ego involved. I took a closer look at a few of the trades he posted up live and he made some decent calls, some of them with high accuracy in terms of stops and targets and this got me curious. I decided to sign up for 1 month at £50 and conduct some due diligence, I was happy to lose the £50 on the basis that I was paying to find out what the crack was.

As an investor/trader I am pretty conservative so I would not trade any method/strategy with real cash until I have successfully demo'd it for 3 months and even from that point on I would trade for chump change building up as my confidence grew. I started receiving the alerts on Monday 24th October. I have not been trading them but just following along to verify that had I been trading them I would have been able to get results close to what is claimed.

In the past month I have received 200 email and even more texts with entry points, close points and analysis.
 
MajorDutch said:
Right let's get started. First a bit of background and why I am doing this. I have been trading for around 3 years now overall I have lost money but recently have started having some success trading the H4, Daily/Weekly t/f's as per the James16 methodology. I am not in any way affiliated to James16 however out of the all the vendors I have come across this is the only one I have found to date that is worthwhile. A while back I took a look back at the WallStreet1928 thread (WS1928 from now on) and saw some pretty bold trades and frankly wild language from WS1928, it's fair to say there was a fair bit of ego involved. I took a closer look at a few of the trades he posted up live and he made some decent calls, some of them with high accuracy in terms of stops and targets and this got me curious. I decided to sign up for 1 month at £50 and conduct some due diligence, I was happy to lose the £50 on the basis that I was paying to find out what the crack was.





As an investor/trader I am pretty conservative so I would not trade any method/strategy with real cash until I have successfully demo'd it for 3 months and even from that point on I would trade for chump change building up as my confidence grew. I started receiving the alerts on Monday 24th October. I have not been trading them but just following along to verify that had I been trading them I would have been able to get results close to what is claimed.

In the past month I have received 200 email and even more texts with entry points, close points and analysis.
Click to expand...

whats your view so far on the emails and texts?

with so many i guess its easy for the originator to pick the best few as his marketing tools and forget the rest....... or am i being too cynical in my old age?
 
1st week Monday 24th - Friday 28th

I can verify that he ended up on +110 points for the week. trades were made on CAC, NASDAQ, FTSE, DAX, WTI, EURUSD, AUDUSD. all trades he called.

I will post 2nd, 3rd, 4th week when time permits.
 
MajorDutch said:
1st week Monday 24th - Friday 28th

I can verify that he ended up on +110 points for the week. trades were made on CAC, NASDAQ, FTSE, DAX, WTI, EURUSD, AUDUSD. all trades he called.

I will post 2nd, 3rd, 4th week when time permits.
Click to expand...

thanks for the effort you are putting in here

one more thing - were the calls made in advance or real time, typically how many points were made per trade.

Regards

Chalky
 
Chalky_trader said:
whats your view so far on the emails and texts?

with so many i guess its easy for the originator to pick the best few as his marketing tools and forget the rest....... or am i being too cynical in my old age?
Click to expand...

well as you know views are subjective. The reason I wanted to start this thread was to look at the facts of the calls that he made and to verify any claims made. a lot of the trades he has called are historically not trades I like, eg. holding positions overnight. I can tell you over the whole month he made points every week but I will break down the 4 weeks so far in good time. you are right to be cynical there are a lot of sharks out there.... having seen what i have seen I have no doubt WS1928 has ability to trade profitably but only time will tell on the consistency side.
 
MajorDutch said:
well as you know views are subjective. The reason I wanted to start this thread was to look at the facts of the calls that he made and to verify any claims made. a lot of the trades he has called are historically not trades I like, eg. holding positions overnight. I can tell you over the whole month he made points every week but I will break down the 4 weeks so far in good time. you are right to be cynical there are a lot of sharks out there.... having seen what i have seen I have no doubt WS1928 has ability to trade profitably but only time will tell on the consistency side.
Click to expand...

How live were the trades called.could you have got the price as stated. Lets us know
 
Week 2 - 31st Oct to 4th Nov

trades on FTSE, NASDAQ, CAC, DAX, CABLE, EURUSD, EURJPY. positions held over weekend yielded +70 pips. I can verify he ended up on +362 points for the week. At one point on the tuesday he was down to -70 points for the week but pulled it back later in the Tuesday.

+472 points for week1 + week2
 
MajorDutch said:
Week 2 - 31st Oct to 4th Nov

trades on FTSE, NASDAQ, CAC, DAX, CABLE, EURUSD, EURJPY. positions held over weekend yielded +70 pips. I can verify he ended up on +362 points for the week. At one point on the tuesday he was down to -70 points for the week but pulled it back later in the Tuesday.

+472 points for week1 + week2
Click to expand...

i think your missing something Dutch, someone would have been along before to say how good he is, as Ive said he has 100s of potential customers on this site,all he would have to do is a few live calls
 
Lord Flasheart said:
i think your missing something Dutch, someone would have been along before to say how good he is, as Ive said he has 100s of potential customers on this site,all he would have to do is a few live calls
Click to expand...

yeah maybe he should do live calls for a week on his thread.
 
MajorDutch said:
yes my analysis showed the price stated were achievable.
Click to expand...

I think this is important to consider because it makes a big difference.
I spoke to someone once who in a week where ws got 200pts, the subscriber actually got -200 because ws made losing trades during the day but positive trades at 3am in the night (ie sleeping time).
There are also delays resulting in averaging errors.
I'm afraid there's not much you can do about that apart from to learn his analysis and make your own trades.
 
Remember Mr Squirrel - he started a similar thread, but disappeared in the meantime?
 

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Sidekicker said:
I think this is important to consider because it makes a big difference.
I spoke to someone once who in a week where ws got 200pts, the subscriber actually got -200 because ws made losing trades during the day but positive trades at 3am in the night (ie sleeping time).
There are also delays resulting in averaging errors.
I'm afraid there's not much you can do about that apart from to learn his analysis and make your own trades.
Click to expand...

not by what hes claiming,all we are asking is that he proves his calls are good,then i will subscribe,hes been here a long time and very few good comments.We are just trying to protect newbies. If we are wrong show us.
 
Sidekicker said:
I think this is important to consider because it makes a big difference.
I spoke to someone once who in a week where ws got 200pts, the subscriber actually got -200 because ws made losing trades during the day but positive trades at 3am in the night (ie sleeping time).
There are also delays resulting in averaging errors.
I'm afraid there's not much you can do about that apart from to learn his analysis and make your own trades.
Click to expand...

yeah a lot of the time he says for example he is short @ A up to B with SL C target1 D target2 E. So you would need to be ready willing and able to enter/modify/close a trade pretty much at any time of day but I would say the bulk of his alerts come between 7am - 5pm. unless you are going to be at your computer all day you would need to utilize a broker with a decent smartphone app so you can trade. often he doesn't let trades run to target, will come out and reverse at short notice, this is day trading after all. I take your point on averaging in, and the average price you end up with depends on your timing and amounts.
 
MajorDutch said:
yeah a lot of the time he says for example he is short @ A up to B with SL C target1 D target2 E. So you would need to be ready willing and able to enter/modify/close a trade pretty much at any time of day but I would say the bulk of his alerts come between 7am - 5pm. unless you are going to be at your computer all day you would need to utilize a broker with a decent smartphone app so you can trade. often he doesn't let trades run to target, will come out and reverse at short notice, this is day trading after all. I take your point on averaging in, and the average price you end up with depends on your timing and amounts.
Click to expand...

I often wondered about the averaging in.
For example,
CALL: short at 5000 up to 5020 avg 5010 tgt 4980 SL 5040
What happens if the trade reverses down straight from 5000?
If the call make 20pts (5000 to 4080) then what does the trader make as he never got his full trade size in assuming he was going to enter a bit a 5000 a bit at 5010 and last at 5020.
I can how a call can be counted independently from actual results in that instance.
The trader entering only 1/3rd position here with no opportunity to average in = 0.33 x 20pts = 6.6pts profit.

and the reversing at short notice will also suffer from time lag meaning less profit for the subscriber.
 
Sidekicker said:
I often wondered about the averaging in.
For example,
CALL: short at 5000 up to 5020 avg 5010 tgt 4980 SL 5040
What happens if the trade reverses down straight from 5000?
If the call make 20pts (5000 to 4080) then what does the trader make as he never got his full trade size in assuming he was going to enter a bit a 5000 a bit at 5010 and last at 5020.
I can how a call can be counted independently from actual results in that instance.
The trader entering only 1/3rd position here with no opportunity to average in = 0.33 x 20pts = 6.6pts profit.

and the reversing at short notice will also suffer from time lag meaning less profit for the subscriber.
Click to expand...

well I guess the position sizing is down to you. Say for example the maximum position you put on is £30 per point but you trade in lots of £10 per point. In your scenario above you would go £10 per point short @ 5000, and as price went lower right away you would not add to the position. there is no right or wrong.
 
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