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My trading has become disciplined and moving toward controlled emotion since trading with the underground. Before becoming a Jay Trader my success was not shabby; however, after applying the tools of trading my portfolios have at least doubled and some have multipled 4 or 5 times.A few of my trading friends are appalled at the idea of a pit leader and favor the more traditional investment approach.However, the bottom line keeps me here. Even when I get into a trade that goes against me, I know what I have to do.Before trading here, I would stay in positions until the value was embarrassing and I resorted to message boards for the strength to stay while praying for recovery. The one area I still need to work on is realistic goal setting - my goals are still too low.To Jay I salute you for your little lectures to remind us this is our chosen profession.Roofus - www.undergroundtrader.com. The Underground Trading Pit for me has made the difference between quitting and success. I started at the beginning of 1999 with huge losses.Stabled and in a few months was making profits.The Trading Pit for me is not only a place where calls are made but more important a learning tool.
The wealth of information is just incredible, from Jay's and Ral's teachings to all the very successful traders giving their insights, opinions and ideas. There is a family atmosphere which lightens the sometimes boring and stressful work of daytrading. I cannot imagine trading without it.Thank you Jay, Ral, and all operators for a class act!Carlo Lombardo - www.undergroundtrader.com.
I must thank you immensely for teaching me how to daytrade.I have been at this about 1 1/4 years, lost a lot of money at another chat room in the first 3 months - 60% of my capital. Then you began the pit and I have steadily improved. You have taught us how to trade on our own and I realized last week while you were gone and I was still making money that all your efforts were successful.The pit offers camaraderie and many different perspectives so there is constant room for growth.The 'No Hype' policy is a very welcome change.You have provided me with a second career that I really enjoy.
I gives me the flexibility to spend time with my 2 and 3 yr old boys whenever I choose.Your dedication to each of us is really something specialThanks so much!Rho - www.undergroundtrader.com. Wow, what a service, what an education and what a teacher! I cannot begin to tell you how much I have learned over the last year from you and the members of the Pit.I was a newbie to daytrading when I joined the pit, and I questioned whether the Pit was just another Pump and Dump place that would gladly take my membership money. Was I surprised.My first day trading with you I made $2700.00 and I thought, 'this Jay Yu guy is great.all I have to do is sign on, trade his calls and make money.Which I can do any day.And this is worth much more than the price of admission.My surprise came and what I didn't expect was that I was receiving an education on trading the markets and being taught by a master. You know the saying.Teach a man to fish.Jay, Ral and all the others at the Pit You are the Best!Thank You,Joey Judice (Skye) - www.undergroundtrader.com.
Just a quick note to say thank you for all your efforts over the past few months while I have been a member of the pit. It has really inspired confidence in me, and from this confidence I hope to become a full time successful trader in 2000.
Without you and the rest of the team, this would not have been possible.I will not be in the pit today, so I'll take this opportunity to wish you and the 'Purple People' a happy and prosperous new year for 2000.Once again, thank you very much,Steve Cooper - www.undergroundtrader.com. As a charter member of the Pit I'm happy to provide you with the following:I had prepared a long detailed response to you query re: feedback, however I decided to shorten it for now and to compliment you on what you and your staff have done.Personally I have grown tremendously. I consider myself much improved, and I expect to 'breakout this year'.In 1998 I lost about 430k, in 1999 it has been reduced to just over 188k. I know this is still a lot to lose but it is a considerable improvement. My circumstance places a large handicap on trading which has required a lot of tuning (work in progress), but I am confident the 'PIT' will be instrumental in my ultimate mastery of trading.Again, thank you and your staff.God Bless You.Morgan11 - www.undergroundtrader.com.
The first day I signed on to the trading pit under a free trial, I made profitable trades following Jay's methods.Profitable enough that first day to more than pay for the trading pit's first month's fee.But more important than making a few bucks was finding a mentor in Jay.Someone who could not just make good calls on momentum stocks, but someone who could instruct me in what precisely to look for in a chart when considering entering a trade.Jay's advice is more than just having another set of eyes on the market, although that too is valuable. His experience, which he's happy to share every day, is priceless in learning how to determine traders' behavior and how to read the market's psychology.In short, Jay's ongoing coaching has made me more than just serious money.Even more importantly, it's made me a better, more self-reliant trader.rrazman - www.undergroundtrader.com. Here's my story - It's sad but true.I have traded stocks and options for 6 years now. I always did well. I primarily did swing trading and figured that instant level II access would only improve my results.
I had no idea how to day trade!I couldn't read a chart, had tremendous capital - a chippie through and through. At any rate, after repeated margin calls, etc., I realized I was in serious financial straits. I buckled down, paper traded, took a chart course, bought every book I could find and took the small capital left and began to make money.I had heard of the Underground Trader and I spent the free week.
That week I consistently made 5% a day. I increased my capital and the last two weeks have consistently made 10% of capital (or better!) a day. I have had one losing day in the pit in three weeks.I know this is not a long term experience but I have learned more from you and the other traders in 3 weeks than I could have possibly imagined. Your reminders of discipline are invaluable and I have found small lot scalping to be lucrative, intense and importantly, very little downside risk.At any rate, if for no other reason, I wanted to e-mail you and thank you.Have a terrific vacation and I'll see you in the pit.Warm regards,Cathy Silver (kt4) - www.undergroundtrader.com. Sorry I have been negligent in writing.
I retired Sep 30 after 30 years with Ernst & Young. I took a part time job as a Community Service Officer with the Westlake Police Department.
It's been almost full time, so I'm only online sporadically. One of the other officers is ill, so I should be more active in the Pit after the 1st of the year.Anyway, I wanted to congratulate you on your engagement and decision to take a vacation.
Make sure you do that from time to time. One of our senior partners always told us to be sure and take time to smell the roses. My retirement game plan was to retire as I did, and trade with an objective of $10k/month, roughly $500/day. I gave myself until then for my learning curve.
Thanks to you, almost exclusively, I have doubled my goal to date. In fact, I think working as I do has helped my trading.
I manage to catch the beginning and/or end of the trading day everyday.As a result, the overnights and swings have just been superb for me. I'm probably only slightly profitable on momentum plays, I still need work on my discipline. However, your teaching & guidance is outstanding.
I can't begin to thank you. Every now and then, I see someone get on your case and see you react, all I can say is, continue to focus on those of us who follow you (and Ral and others).You have a great operation and following, enjoy it and 'nos illegitimus carborundum' or something like that - Don't let the bastards grind you down:-)Talk to you soon. Thanks again.Walt - www.undergroundtrader.com. I want to thank you and Ral for continuously pounding the training into our heads at the pit. The proverbial 'Light bulb' went off in my head this week.
I'm still a little cautious though because I have thought this in the past and it turned out that the light was just starting to flicker but it has never felt like this before.You truly are a unique individual with tremendous skills in so many areas. I am truly thankful for the day you started the pit which by the way was my birthday. A good omen for sure.Thanks again and I'll see you in the Pit,Jay Turner AKA - shimjun - www.undergroundtrader.com. I just wanted to say thank you for your teaching, honesty, and great calls. I've been a member since September, and cannot imagine trying to daytrade without your and the pit's support.
I have a little 2 1/2 year old and find the thought of leaving the house to go to a 9-5 job almost unimaginable at this point. I am perusing trading as a full time job now. I lost quite a bit early on due to loose stops, stops at precisely the wrong time, and just general over-trading.But with your and Ral's help, and lots of studying, I have turned the corner and on my way back up.Today was my best day since starting. I ended with +$3200. My daily goal is 300. I caught VRTY for 1 1/2 on 1000s, but the rest was made on 2-400 share orders of mostly your calls + a couple of good shorts on BEOS.I am very excited to be a part of the Underground, and am looking forward to a very good new year.Thank you again, and I wish you and yours a very happy holiday and new year.
Also, please have a safe and relaxing vacation.Warm Regards,David Mutal (davidm) - www.undergroundtrader.com. Joined the Underground about 2 weeks ago. First trade was CSCO @ 75.00. Tried 400 shares & worked beautifully.This was my first full 'active' week with you - pared my shares way down and ended up +$6,800. Was thrilled with a crappy market and all:)I've been position trading for about 18 months and do just fine; however, your system is the first I've come across that puts the nuts & bolts together superbly. I'm not a scalper by nature but the swings have worked very well for me.
I hooked up Qcharts, watch the ndoos all day long with you and have learned a ton in 10 days. The best part is that I can now actively trade during the cruddy and sideways markets that I needed to sit out between market cycles in the past.
And, of course, being difficult to stay out at times, I would try and trade some and get burned.Ordered RAL's new manual, have everything going and wanted to tell you all what a terrific job you do. The teaching is wonderful and it really shines through that you love it. Also want to say what a pleasure the pit is all day long - NOT a bunch of idiots saying stupid things all day long!
A rather intelligent group that works pretty well together and led by a great, supportive teacher.Thankfully,AKA Joanne Giardini - www.undergroundtrader.com. I have some good news to share with you.We spoke in Ontario and I thanked you for not only putting me on the profitable road to trading, but also for making a positive financial lifestyle change in my personal life. Through my consistent daily trading profits from following your methods, my wife and I have been able to pay off the mortgage on our house. We made the last triple payment yesterday, 8 years earlier than planned. This would not have been possible without your no nonsense approach to trading and the Pit atmosphere.I have been a member of the Pit for over a year. ( My original nick was TraderDog. I changed it cause it was too hard to type fast.lol ) Even though I have been trading full time for 3 years, I have never been this profitable for so long.
Regardless of the market conditions. Jay, my family and I can't thank you enough. You should be proud of how you have helped not only traders like me, but our families.Thanks so much.Reed Donelli - www.undergroundtrader.com. I have been a member of the pit for about 2 months including the free trial. In that time on a $40,000 account I have made about $25,000 in realized profit. This is ENTIRELY due to your ability to recognize stocks with some momentum potential, or with short term holding potential.Before I found your site I traded like what I have come to know as a chippie. Consistently loosing money and only very occasionally profitably.Your coaching ability is as important as the calls that you make, and I, for one, am exceedingly grateful to you and your team.Jay, enjoy your well-deserved vacation, and have a merry Christmas.With warmest personal regards, I remain,Sincerely yours,Dan - www.undergroundtrader.com.
At first I would like to express my gratitude to you and your day by day guidance and leadership. For last month Every day I have been in the pit I see you doing great job of not only giving us ALERT'S but teaching us. Believe it or not for years this was in my mind to enter the market but I didn't know how? You know what I mean? This was a dark and unclear subject for me, I started some reading and, tell you that I like to do my home work.I did read a few books until last November I find your web site and I got your book and did read that cover to cover, I can't say I understood everything but little by little just about every day I refer to it and understand it better. To be honest with you from November 2000 until February 2001 I followed your calls in nightly cap section of your web site and compared it to the intra day charts. Anyway I am a new member of pit (one month) I did paper trade for few weeks before entering the pit then and started with 100 and move to 200 shares at first I did lost a little bit but finally I learned my lesson and started to stop loss management and practice it.I am sure you have notice that recently I started my green days and that is because I learned to listen to you more carefully like( take the gain when its possible and don't take big loss, sell it while loss is small), And last but not least( charts are not just color full lines).
I make most of my green in first 15 min of market by doing your call's and doing it fast. And as soon as you say now we are in the dead zone I turn off my computer. I have no doubt in my mind that with your help and my hard work I will learn.Just want to say thank you.Shapourz Irvine - www.undergroundtrader.com. I can't adequately express my thanks for what you do in the Pit. You hear it all of the time so perhaps you've built some defenses for ego-preservation, but you're the best.Who would have thought that there would be a place where you can actually get your money's worth?
That someone with the insight and DAILY demonstrated ability to beat the markets day in and day out would choose to teach others and lift them to higher ground?I've been through the euphoria of winning and the blues of losing, and it's no way to go. Emotions kill performance and although I'm very happy that things are going so well and my account is growing in leaps and bounds, I'm.MUCH. more grateful for the education that I'm getting. The education removes the mystery and allows you to step back and be less emotional. As you well know, that's when the real money comes.All the best to you Jay. You're very blessed to be able to do something so well, and to have such a gift for teaching and leading others.Thank you, Jay.Roland Wright - www.undergroundtrader.com.
I am a charter member of The Pit and rely on the information, training, and camaraderie that we share every day. Thank you, Jay, for providing this site - I would have never made it in daytrading without you.After adapting your approach of basket stocks and sticking with them throughout 2001, my CyBerTrader margin account was profitable on every stock that I traded. That certainly was not a goal that I aspired to, and may never see again, but what a delight it was to realize it!!! In the process I rescued a devastated account for over 700% gain.In the IRA, using the guidance that Ral provided, I used covered calls to generate 18.2% in income over the base price paid in the last eleven months, to increase share size without additional cash input. Occasionally I would take and sell a long position to generate additional profits. I will add cash this week to increase shares in current positions and initiate a new stock position. As I added to my IRA positions over the year I have lowered the adjusted share price while increasing the number of contracts that I am now able to write.Note - in the CyBerTrader account Mrs.
Jette made one trade in 2001 on an AMAT short on 09NOV01 and walked away after it went negative. She has never traded a stock before or since. I stopped out of her short for -$200 and reversed long and made $150 for -$50 in 2001 on AMAT. AMAT is not in my basket and that day and those two trades were the only time my wife and I have traded AMAT. My point is my trade was green:) check the log!100 percent positive on my CyBerTrader basket in 2001! One Hundred Percent!Steve H.
Jette - www.undergroundtrader.com. I am quite new to your site, having only been a member for about a week. However, in that time I literally feel as though several LIFETIMES have transpired, thanks to the sheer volume of 'bushiban'-style (intense) learning I have been exposed to.Simply put, IMHO The Pit is God. Well, maybe not God, but close - certainly a major manifestation. I learned about the Pit via discovering your most recent book a couple of months back, and the rest, as they say, is history.
My wife (a native of Taiwan) is learning about daytrading too, and she is a big fan of your book, site, and methods as well. Ral and his techniques have been terrific also.I want to say I think your 'Jay After Hours' live session alone is worth the price of the monthly fee. To read your material is one thing, but to have that 'in your face' approach which you brandish with such glee (yes, that's a compliment) is essential & invaluable encouragement and support for a novice like myself. I am strictly on paper for now, but I have my basket and I am watching, correlating, analyzing, collating, etc. Thanks for EVERYTHING, Jay, you are truly an amazing person and I wish you and your family the best.Paul Sakran - www.undergroundtrader.com.