If you liked high school, you'll love the chat rooms.
There are many reviews here that will tell you about John's trading style, and those comments are all true. He is mostly bullish (he rarely sells short), he is undisciplined and emotional, and he has a tendency to try to catch falling knives. If you like to trade counter to the trend, then his style may suit you. It is also true that he has a difficult time selling his losers. For example, as of the close of business yesterday (Nov 11, 2013), he was sitting on 16 open trades, only three of which were in profit. The profits on those three winning trades ranged from $76 to $398. However, counting his 13 losers, he was a total of $9,694 in the hole. Yes, that's right -- he was DOWN a total of nearly $10K on his open trades. In fact, of the 13 losers on the list, he had three open trades that were down by 31%, 37%, and 43%. I believe most "professional" traders would be horrified at that. "Cut your losers quickly," they say. Not John. His mantra is "Buy strong stocks," and presumably they'll come back... someday. Heaven forbid we actually have a bear market. He'll be sunk.
As for the records on his OPEN trades: Those are only available to members, so you will have to take my word for it. An honest member could confirm the above information, but I doubt anyone will. His minions are extremely loyal, for whatever reason. Regarding the open trades, they are not very easy to find on the members' website, but they ARE there, once you know where to look. Once can't really blame him for keeping them on the down low -- hidden from non-members and hard to locate by members. After all, he can't give away for free what he is charging his members good money for, and he does not want it to be too easy for members to see how much pain he is really in. I only hope that the members exercise better sell discipline than he does. If they hold when he holds, they are bound to lose money, and that is NOT what you want from an "educational" site if you are a new trader.
At the same time, while he is down nearly $10K on his open trades, you will still hear him on the radio celebrating whenever he closes a trade that is up 1 or 2% -- sometimes only a couple hundred dollars. Those winning trades are then added to his "Trade History," which he proudly presents for public consumption on places like Facebook, where he promises more of the same great results if you will only sign up for his service. Yes, he does have months where he has tens of winning trades that add up to a few thousand dollars, but I can't see him paying his bills and feeding his family on those amounts when he is also sitting on thousands in losses, in open trades that he refuses to close. All one has to do is check his trade history, look at his open trades, and do the math. It quickly becomes obvious that he pays his bills through membership fees, not through winning trades. I don't have a problem with that, but what I do have a problem with is the disingenuous way he trots out his wins as if he never has a loser, coaxes new members to come along for the fantastic ride, and then sits on losses that are difficult for members to find unless they are specifically looking for them. That's not cool, and Johnny has earned every ounce of my disrespect.
Now for the chat rooms. You will find some very friendly, very helpful traders there -- people who will generously go out of their way to help you with any questions you may have, whether they are related to the members' features, trading, technical analysis, or broker issues. I used to be one of those helpful people. but I was banned from the site earlier today. Why was I banned? It seems I stepped just a little too hard on the toes of one of John's pet members. If you enjoyed high school, you will find yourself right at home in certain chat rooms at daytradingradio. If you're lucky, and if you kiss the right people's butts, you will be counted among the Cool Kids who can say and do whatever they want and get away with it. If not, look out. The chat room "rules" will tell you that disrespect is not allowed, but don't you believe it. It IS allowed... IF you belong to the right clique. If not, well... you may find yourself in the middle of the high school quad, face down in the trash can, with everyone yelling and throwing rocks at you. Find out who the Cool Kids are, and DON"T cross them, or you are out. Or just go in the options room, where folks were (to me, at least) quite a bit nicer. :-)
If any if my friends are reading this -- and you know who you are -- thank you so much for all the love, laughs, support, encouragement, and help. You were the highlight of my time with dtr, and I will miss you very much. I really am sorry it ended this way. I just could not take the double standards, and it ended up getting me kicked out. Over the last several months, John has earned my complete disrespect (I used to respect him... now what a shame), and he does not deserve any more of my money, so unless something changes, I will not be back. Good luck, everyone, and much love to all of you! oxo
This review is the subjective opinion of an Investimonials member and not of Investimonials LLC
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