Dave Johnston and Justin Weinraub Reviews
3.5K CLAIMED LOSSES
1 TOTAL REVIEW
EMINIday trader results Dave Johnston & Justin Weinraub
Another important update. The is concern #4 in what will be a series of concerns until fixes get made. I want to make all potential clients aware of the results of the trades that Dave and Justin post daily. But let's be clear, I have serious issues with these calculations even being this positive. It is my opinion and true belief they are much worse. If you don't already know, Dave and Justin keeps 2 sets of results. The first is the tabulation of every trade fired by the software. The second, and the one they will advertise you new clients, is the results base on the logic they teach. For those of you reading my previous concerns you will know that I see no consistent pattern in those logic selections and assert that it can not be done by anyone. I have tried for 3 years, But, the results of their system without regard to logic selection is as follows: This is for 150 trading days thus far in 2011. 719 trades x 4 contracts per trade so 2876 contracts traded. I tabulated $4.80 per contract as that is a good norm and that comes to $13,805.00 to the broker. Of the 719 trades they say 473 won or broke even. We disagree on that as I firmly believe it is lower but let's work with that. They say those trades made $7,725.00. Do the math, subtract the $13805.00 in commissions from the $7725.00 in winnings and you get a net loss of -$6,080.00. Now, how would you like to sit in front of your computer all day and drain your account like that? Now let's review the logic results. This is what they advertise. The logic trades selected by Dave or Justin after the market closed totaled 424 trades of which they say 313 were winners or broke even. Before we get to the results think about what I just wrote. Out of 5 trades fired on average per day you must select the average of 2 that they will label as acceptable. This is a discipline of odds and probabilities. Think what are your odds of picking exactly the logic trades on a daily basis. The way it is set-up, IMPOSSIBLE! and thus the reason for my concerns. But those results are these IF you could be so omniscient. $23,000.00 in winnings (which we strongly disagree as I believe are much lower) with $8,141.00 in commissions with a net profit of $14,859.00 or $99.00 per day for 150 trading days this year. ONLY if you could be correct everyday. Tax that any you com up with about 65 dollars a day or 8 bucks an hour. email me at janno1951@***.com for more.
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