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Customer Review for Michael Parness:


287 of 299 people found the following review helpful:
Review:
April 3, 2005
Reviewer:
David D from Pittsburgh, PA.
Review Title::
Need to know what you are doing!!.
Rating:
1 Star (or Unacceptable).
Review:
If you don't know much about trading, you can and will lose money. I am a part-time trend trader using Trendfund and have lost a lot of money! I haven't gotten too hurt on the weekly picks as I have been able to stop out before getting hurt.



However, my biggest losers have come from the January effect and Earning Runner Lists (which is an additional charge). These list have the words MONSTER PICKS/HUGE GAINS/etc... which make you want to listen and buy. Even though Waxie and Tiny always say don't blow all your money here, they really pump it up. These are swing trades to hold for a longer duration (ie 1 to 10 days leading upto earnings).



However, the market has reversed before each of the earnings and since these are more volatile stocks, I have lost more. The point is, to trade like this, you need to be more than a part time investor (at least that is my experience). Also, Waxie always owns the stock/options before he makes the announcement to the public but says he won't trade for 24 hours.



However, I am sure he builds enough momentum with his membership base for a 24 to 48 hours period and exits his trades and make the big ka-chingos since he is up more than the average person as we are all buying at the same time (probably while he is selling). This seems like a pump and dump scheme.

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Disclaimer: These reviews are for educational purposes only. The reviews given here are personal opinions, and other people might have different views on the products reviewed on this website. You should make any buying decisions based on your own judgment. No guarantees of income potential are given or implied; such income potential is dependent on your own skills and resources. We may receive commission or revenue from any service or product that is purchased through this site.


 
 

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