Housekeeping, Questrader Elite, One Down

There is not too much to report on the trading front today, just some housekeeping mainly.

I cancelled one swing style trading service as the track record was next to abysmal. Considering the marketing said that I should be making nice profits in the first 30 days....not only was I seeing losses I was also seeing a 1 in 7 win rate. At that the winner was just a small profit as well. Full money refund.

I did go back and check the historical track record. 57% winners. Not a spectacular record at all. Now had I made every single trade over the period I would have made out OK. Say $1000 trades every single time would have me in the $20,000 profit mark after well over 200 trades. History didn't seem to want to repeat itself or I would have held the service through.

One of my trial criteria is typically to test and use the "free trial" or guarantee period to pay for the service. If it can do that then I will carry it forward for a while and see how it works. To date I have not ever had one single service do that.

The second service is doing much better. 1 winner, 7 in the money trades and one loser. Not bad

Then there is the daytrading.

Work in progress this one. My trading volume is up just over 60 trades this month so I elected to upgrade to Questrader Elite again. This gives me more active charts, multiple order boxes and a dome order view which, I haven't tried before, allows me to place orders by clicking on the quote. I also recall something about being able to place limit target orders and stop orders simultaneously...but I might be wrong on that one.

As far as the service is concerned, I like the live atmosphere of a trading room. The trades are somewhere under the 50% winners right now....but I have pretty much chosen to discount last week as a writeoff due to the issues surrounding people not being able to follow instructions and the gearing up of a new service.

I should have waited until this week to start. If I add up the total subscriber base and multiply the annual revenue from this alone it certainly behooves the host/moderator/supplier to produce some results. The attrition rate if he does not will be terrible.

I have some faith in this though. Others are using other services from the same fellow and they are quite happy with the results. So I am only one week into a four week trial anyway. Like I said though, I may start over with this one.

Jeff.