jtmoney03 said:

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Prognightmare said:

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McInnis 03 said:

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Honestly I have no clue, that did catch me off guard but I imagine it's the way he can insure subscribers are getting access to the private feed

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It's to make sure that you're not stealing his charts and passing it off as your own. Just protecting his IP.

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It is a bit ironic though, because that is exactly what he did before he started his pay service a few months back. His posted trades and commentary were almost verbatim what another pay service was doing. I was tracking both for a week or two and they were at times seconds or minutes behind the service some guys and I at work use. Just spot checking a few the last couple days and he seems to have figured some of it out for himself, but there are a lot of similarities in what he posts. Obviously these guys are all chasing the big names who move in big swings to make the option money, but they are still similar enough in timing that I question if he is still following some of the other services and passing as his own.

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It is possible that's a partnership behind the scenes. Manic is actually two guys who post trades (not sure about that, but just trying to assume positive intent.)

khaos288 said:

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AgEng06 said:

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Awesome. How much cash do you need to really take advantage of his stuff?

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I started my options trading this year with around 2k. Would only buy 1-2 contracts instead of the min suggestion of 4. I grew that to almost 8 now.

I 100% use money that I expect to lose, otherwise the options game is too much heartache. Yesterday I bought some calls seconds before the gild news and 400$ evaporated in 45 seconds.

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I started with $3,000 in my TDA cash account on Apr 6.

I'm up to $11,300 today and I never had more than 50% of my account total tied up at once.

I missed some big ones and made some mistakes. I looked back and should be up to about $20,000. For example, I would catch a trade late and still buy in 5-10% above his alert price, and sell 5-10% below exit price. But there were also times where I did better also. Most recently, I got all out of SHOP at 300% and could have waited a bit longer to get 500%.

Overall, I'm happy with it. Only thing I find is that I'm way too distracted at work lol

jtmoney03 said:

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Prognightmare said:

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McInnis 03 said:

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Honestly I have no clue, that did catch me off guard but I imagine it's the way he can insure subscribers are getting access to the private feed

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It's to make sure that you're not stealing his charts and passing it off as your own. Just protecting his IP.

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It is a bit ironic though, because that is exactly what he did before he started his pay service a few months back. His posted trades and commentary were almost verbatim what another pay service was doing. I was tracking both for a week or two and they were at times seconds or minutes behind the service some guys and I at work use. Just spot checking a few the last couple days and he seems to have figured some of it out for himself, but there are a lot of similarities in what he posts. Obviously these guys are all chasing the big names who move in big swings to make the option money, but they are still similar enough in timing that I question if he is still following some of the other services and passing as his own.

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I have a feeling some of theses services are actually the same person. Like GMC and Chevy, same truck just different name plate. Gives the illusion of competition.

Oh I have no doubt about this one. There's at least a handful that are run by the same people with just varying levels of risk or different delivery types. Trying to hit one big in popularity or like you said feign competition

Very good stuff here.

Prognightmare said:

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I have a feeling some of theses services are actually the same person. Like GMC and Chevy, same truck just different name plate.

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What? Next you'll tell me Santa Clause isn't real???

So does the intel stock behavior cause anyone to change their approach when it comes to playing earnings? They beat expectations but the lack of guidance seemed to still push them down. Or do you see that as an outlier since rumors of AAPL using in-house chips in the future might have made lack of guidance worse for intel than other companies.

Are you more inclined to take smaller profits a few days before instead of waiting for a bigger profit percentage needed to go net free? Does this make you more inclined to focus on shorting companies you think will underperform rather finding companies you think could over perform and get a good rip?

How much are you guys paying for these twitter/info streams?

Every knee shall bow and every tongue shall confess

Every knee shall bow and every tongue shall confess

Red Rover said:

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Prognightmare said:

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I have a feeling some of theses services are actually the same person. Like GMC and Chevy, same truck just different name plate.

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What? Next you'll tell me Santa Clause isn't real???

So does the intel stock behavior cause anyone to change their approach when it comes to playing earnings? They beat expectations but the lack of guidance seemed to still push them down. Or do you see that as an outlier since rumors of AAPL using in-house chips in the future might have made lack of guidance worse for intel than other companies.

Are you more inclined to take smaller profits a few days before instead of waiting for a bigger profit percentage needed to go net free? Does this make you more inclined to focus on shorting companies you think will underperform rather finding companies you think could over perform and get a good rip?

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I'm not huge fans of earnings plays in a normal environment but especially not what we have right now. I had a small position in DFS prior to earnings but added to it after they released because it looks good. I think it hits $40+ next week and I'll be out.

Earnings moves are going to be hard to predict this cycle. With their pre-announcement last week I do expect ROKU to close in on $145-150 prior to their earnings release though.

Every knee shall bow and every tongue shall confess

It may have something to do with the account size of his customer base. If you're well over $25k I don't see why you would care about being a PDT with a margin account.

True, but I think a lot of people with small accounts subscribe in the hope of becoming a big account and this protects them from getting flagged. Like I said, I don't worry about it and don't know the fine print, so I could be way off base.

So if you want to be able to freely trade as many times as you want without worry of PDT or good faith violations affecting anything, what should you choose? Cash vs. Margin... certain minimum balance at all times? For example, with Fidelity.

I was about to ask the same. I think a margin acct with $25k is the optimum solution.

After that, a cash account with enough excess to cover any losses. (Maybe only invest 50% of the account and keep the extra as a cushion.)

Follow-up: will TDA allow you to have 2 accounts, a margin acct and a cash acct?

khaos288 said:

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Oh I have no doubt about this one. There's at least a handful that are run by the same people with just varying levels of risk or different delivery types. Trying to hit one big in popularity or like you said feign competition

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Yep, I totally agree about this. Addressing you and Prog here because you both have similar thoughts around this. I really do want to assume all is right, but Manic for sure was posting the service I use as his own for at least a couple weeks before he started charging. I did a little more research on his posts last night on his public Twitter and I do think he has figured out some models for himself. He has certainly targeted stocks that my guy hasn't recently. Good for him too, he figured out a way to get paid.

Good question, I'm not sure. My gut says yes. I have cash accounts at Fidelity and TDA. I still have a few dollars tied up at RH, but switched to the other two after the fiasco in March. I'm liking TDA/TOS a lot more than Fidelity, as Fidelity mobile is a little clunky to me. Mainly that when you follow these services, they pick strikes a lot of time that are further out than the default 10 Fidelity uses. When you change it, it doesn't save for the next time and it's wasted time trying to enter a trade after they post. TOS does, so I'm on their platform a lot more during the day.

There's no reason to believe the stock picking sites are any different than the sports picking sites. Same guys run multiple sites, the ones that fail get forgotten about, the ones that succeed you capitalize on them. Rinse, repeat.

You could start in January and give out 60 different picks on 12 different accounts. In March take the 7-8 winners and give out different picks on those. In May take the 3-4 winners and give out different picks on those. In June take the 1-2 winners and give out different picks on those. In August you've got an account with 8 months of winning history.

At least with the sports picking sites you could make a case that there was a limit to the amount of capital one could realistically get down based on outs and limits.

With these online brokerages willing to take large sums of money, then it all really comes back to -- if these were sure-fire, consistent winners, why wouldn't these guys just unload more of their winnings into their picks rather than charge $100/month and take the time to service all their customers?

Totally agree here, too!

Who was the other account you followed first? List twitter handle if they're on there please.

@Trendspider is a very informative follow as well.

Posting to you and OverSeas here. We follow the guy behind smartertrading411.com. His name is Sam. He is hands down the cockiest sumbeech I've ever come across in my life, but he's pretty good at what he does. He is not infallible though, as it's clear from the crazy drops a few weeks ago that his models do not play out as well on the way down as they do on the way up. He had lots of misses and grasping during that time. He does everything on news and his fair value of an option price through his own algos and models. He'll also play only the big movers, TSLA, AMZN, APPL, SPX, GOOGL, TTD, SHOP, ROKU, BA...stocks like that. That's why I love this thread so much is that there is plenty of money to be made on the much smaller movers that OA and Irish and others post. Premiums on those big movers get a lot crazier a lot faster and price a lot of people out.

Prognightmare said:

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Who was the other account you followed first? List twitter handle if they're on there please.

@Trendspider is a very informative follow as well.

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Public is @smartertrader
Private is @smarter411

Not saying these in particular are "scams" but yes that's a very common thing that occurs, and has for quite some time.

As for your last thought, same could be said for those that write books or do whatever instead of just putting their money where their mouth is. I don't think it should be an either or... or necessarily viewed completely negative. I would much rather continue trading with a portion of my money and develop another recurring revenue stream alongside with that. Especially if I'm blasting out what trades I'm making b/c that only helps me. Hire someone to blast that out on twitter and sign people up and respond to emails. And i'm making 100-150 per month from who knows how many people? That's a no-brainer source of income with virtually ZERO risk involved.

claym711 said:

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How much are you guys paying for these twitter/info streams?

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I'm in it with 3 other guys at work and we are on his lowest subscription for just trades he makes and posts to private Twitter. $199/month so $50 for me. That is made with the first trade I follow each month.

Thanks

The crazy thing about Sam...he's making metric sheet tons of money on his trades. But he also wakes up on the first of each month with a minimum of $315K (Almost 4M a year...insane) in his account because he has 1,579 following him. I know there are at least 400 in chat, so that is another $200 a month for that. And there are at least 75 or so on his morning calls, which is a cool $999/month. Stupid money before he makes his first trade.

Anyone following Manic's service have a follower count? Just interested to see how well he's doing.

Oops, should have read before posting. Thanks!

jtmoney03 said:

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Posting to you and OverSeas here. We follow the guy behind smartertrading411.com. His name is Sam. He is hands down the cockiest sumbeech I've ever come across in my life, but he's pretty good at what he does. He is not infallible though, as it's clear from the crazy drops a few weeks ago that his models do not play out as well on the way down as they do on the way up. He had lots of misses and grasping during that time. He does everything on news and his fair value of an option price through his own algos and models. He'll also play only the big movers, TSLA, AMZN, APPL, SPX, GOOGL, TTD, SHOP, ROKU, BA...stocks like that. That's why I love this thread so much is that there is plenty of money to be made on the much smaller movers that OA and Irish and others post. Premiums on those big movers get a lot crazier a lot faster and price a lot of people out.

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Wait, this guy isn't cocky!!

Exxxxacttlyyy!

He has some really hot sports opinions on the Cowboys too, lol.