Bill Stacy?

[OneDayWealth]

I didn't ask for back-testing ops, just the indicator system, which sounds like from your posts a MA crossover.

You want to know what specific MA I use? mmm.

I'll tell you this, it's not a crossover. It's just a simple solo MA that my candles must float over (or under as the case may be).

 

[wayneL]

CFDs have nothing to do with borrowing? Wow!! Ok, at least now we know your limits of understanding...


ROTFLMAO!

Ok, that's two down, is there anyone left?

Bill

Not withstanding the gu'mint spiel, which is not technically correct, can you please tell me what you are borrowing to purchase.

IOW If you pay off "the loan", what do you end up with?

With margin lending shares, (which IS borrowing) once you pay off the loan you have full unencumbered title to the shares.

CFDs do not work this way, as it is only a contract between two parties to settle the difference between the entry price and the exit price. You cannot "pay off" such a contract.

There is a finance charge which reflects the cost of carry for the market maker to hedge his position, but this is not borrowing any more than covered calls are "renting shares".

Highlight of this fact is that you only pay a finance charge if you are long; you receive interest if you are short. So how can you be "borrowing if you are receiving interest?

The cost of carry operates the same way as options in that the person assumed to be carrying the shares, receives interest.

Once again, options have cost of carry priced in, but you pay/are paid up front. CFDs you pay/are paid as you go along.

Any more questions?

 

[TeleSonic]

3) Yes and no I'm not qualified to give personal advice (without a questionnaire). I (when I'm teaching) am licensed for general advice only and have no intention of getting involved personally in anyone's trades.

You either satisfy RG146 requirements to provide personal advice or you don't. I've been provided personal advice many times and never been provided with a questionnaire. We're talking about trading advice, not financial planning.

5) I don't own an AFSL. Very few advisers do. I haven't actually taught for a few months but when I did I was under an AR under an AFSL. I presume that's what you meant to ask. But...

What about supporting your clients? Surely you're not supporting a client base without being licensed?

 

[wayneL]

Folks I think this Bill Stacy character is answering our questions, just not succinctly. I believe we are in fact getting answers to our satisfaction... a little interpretation is all that is required.

And as I mentioned before:

The lady doth protest too much.

 

[OneDayWealth]

Bill

Not withstanding the gu'mint spiel, which is not technically correct, can you please tell me what you are borrowing to purchase.

If you pay off "the loan", what do you end up with?

With margin lending shares, (which IS borrowing) once you pay off the loan you have full unencumbered title to the shares.

CFDs do not work this way, as it is only a contract between two parties to settle the difference between the entry price and the exit price.

There is a finance charge which reflects the cost of carry for the market maker to hedge his position, but this is not borrowing any more than covered calls are "renting shares".

Highlight of this fact is that you only pay a finance charge if you are long; you receive interest if you are short. So how can you be "borrowing if you are receiving interest?

The cost of carry operates the same way as options in that the person assumed to be carrying the shares, receives interest.

Once again, options have cost of carry priced in, but you pay/are paid up front. CFDs you pay/are paid as you go along.

Any more questions?

Ask me about day trading options and I'll ask you about CFDs (should I ever need to).

You either satisfy RG146 requirements to provide personal advice or you don't. I've been provided personal advice many times and never been provided with a questionnaire. We're talking about trading advice, not financial planning.

What about supporting your clients? Surely you're not supporting a client base without being licensed?

Correct, I'm not. None have needed support for ages. My videos were/are extremely detailed and left very little to be asked anyway.

Your first statement is incorrect though. There is a very specific difference between being certified to provide personal financial advice and general advice. I'm clearly listed as "General Advice". It was made very clear to me that without a specific questionaire I am NOT to provide any specific advice to anyone and never have. I take specific advice to mean (and have checked this with the AFSL holder) that specific advice means asnwering "should I enter/exit?" which is a question I have never answered nor wished to.

 

[luke256]

Its frustating to see the same questions asked mutiple times. Only to get vague replies.

i.e amount risked per trade. Is it that hard to just say "2% of enitre portfolio balance on any one trade"


I can only imagine how frustrated a paying student would feel if they have to ask the same question 4 or 5 times.

 

[wayneL]

Ask me about day trading options

I've asked, but you sidestep the answers.

This does not go unnoticed.

 

[mazzatelli]

You want to know what specific MA I use? mmm.

I'll tell you this, it's not a crossover. It's just a simple solo MA that my candles must float over (or under as the case may be).

No, I don't need to know what your MA settings are (EMA, SMA, 20 , 30 day etc). I was after some indication of the performance of the system but you've already said you don't test systems beyond paper trading.

 

[OneDayWealth]

Folks I think this Bill Stacy character is answering our questions, just not succinctly. I believe we are in fact getting answers to our satisfaction... a little interpretation is all that is required.

And as I mentioned before:

The lady doth protest to much.

Despite getting that classic quote wrong, I am defending myself against slander and defamation as is my right. If you're ok with people saying bad things about you in public fine. I'm not. You're not cute, stop trying to be. Ask me about day trading options and I'll try to answer to the best of my ability, attack me like a dog and I'll rip your ****ing head off in defense - just like any other self respecting person would and should. I stand up for my convictions, have never knowingly ripped anyone off and despise people who do. I take exception to being called a crook, a charlatan, a scammer, spammer or cowboy.

I am none of those things and will answer to any fair question but some of the rubbish you guys are trotting out here is just unbelievable. It is you who protests too much I think but your protest is about "how can anything new exist"? "How can anyone come up with anything we don't already know about?" That is a very narrow view of this world and to maintain it does not serve you or anyone. Keep an open mind and you will find me very accommodating. Attack like vicious dogs and you'll get the response you deserve.

 

[sinner]

Despite getting that classic quote wrong, I am defending myself against slander and defamation as is my right.

Bill if you can highlight a single case of slander or defamation which you have been subject to since your arrival at ASF I will eat my freaking hat.

 

[Trembling Hand]

2. "If" people ask, I say that on average they should trade no more than about 20% of their total investment portfolio on this style of high risk trading and take no more than a 10% loss. This equates down to a overall risk of about 2% on their entire portfolio. Most of my clients have portfolios of over 200k so to risk 10% of a 20k trade is nothing to them. If they use more than that on a trade it's on their heads not mine.

So the above would make the quote below BS?

Not only is $5,000 plenty to make enough money to replace the average wage I've done it a few times and seen others do it as well. It's less stressful to use more money and stay in the market for less time thereby minimising the risk.

Just part of the spiel?

 

[luke256]

Despite getting that classic quote wrong, I am defending myself against slander and defamation as is my right. If you're ok with people saying bad things about you in public fine. I'm not.

For you to have a defamation case you would need to have a reputation in the first place....which is questionable by the low class comments you have subjected ASF posters to (i.e I'll rip your ****ing head off).

LAW:
"If the published material lowers the person's reputation in the eyes of members of the community".....i would argue you had no reputation to begin with.

 

[wayneL]

Despite getting that classic quote wrong, I am defending myself against slander and defamation as is my right. If you're ok with people saying bad things about you in public fine. I'm not. You're not cute, stop trying to be. Ask me about day trading options and I'll try to answer to the best of my ability, attack me like a dog and I'll rip your ****ing head off in defense - just like any other self respecting person would and should. I stand up for my convictions, have never knowingly ripped anyone off and despise people who do. I take exception to being called a crook, a charlatan, a scammer, spammer or cowboy.

I am none of those things and will answer to any fair question but some of the rubbish you guys are trotting out here is just unbelievable. It is you who protests too much I think but your protest is about "how can anything new exist"? "How can anyone come up with anything we don't already know about?" That is a very narrow view of this world and to maintain it does not serve you or anyone. Keep an open mind and you will find me very accommodating. Attack like vicious dogs and you'll get the response you deserve.

As sinner has pointed out, not one person has defamed you, just exposed a few truths, truth being the ultimate arbiter in such claims.

As far as "I'll rip your ****ing head off in defense", I note that you have been singularly unsuccessful in achieving anything of the sort.

You see, all the people here are doing is asking legitimate questions and expressing concern at what you are teaching inexperienced people to do with regards to massive delta exposure and massive unnecessary contest risk.

That is simply the truth of the matter, which is what you cannot escape from.

 

[OneDayWealth]

Bill if you can highlight a single case of slander or defamation which you have been subject to since your arrival at ASF I will eat my freaking hat.

You better get the salt and pepper out.

I have been called everything under the sun including all those things I just mentioned. Are you freaking kidding me? Calling someone a crook, a scammer, a spammer, a cowboy and all compliments I suppose? Give me a break. Why would you even post that unless you haven't read this thread at all. Even in the last few pages there are several instances of all.

Thanks for your useful post.

 

[OneDayWealth]

As sinner has pointed out, not one person has defamed you, just exposed a few truths, truth being the ultimate arbiter in such claims.

As far as "I'll rip your ****ing head off in defense", I note that you have been singularly unsuccessful in achieving anything of the sort.

You see, all the people here are doing is asking legitimate questions and expressing concern at what you are teaching inexperienced people to do with regards to massive delta exposure and massive unnecessary contest risk.

That is simply the truth of the matter, which is what you cannot escape from.

I'll thank you not to put words in my mouth. Your superman complex is getting the better of you Wayne. I've never said my course is aimed at inexperienced people - they are your words. People pay me to show them how I do what I do and I do that. You seem to have a real problem and I think it stems from your patronising view of traders. You think they are all hopeless and need coddling. In my experience nothing could be further from the truth. In fact I have often referred to my stuff as being suitable for the experienced option trader so I really don't know where you got that from.

You can carry on about your own mumbo jumbo the fact remains. I do well at this, I am very successful at showing people what I do. My movies are extremely well made and highly detailed and leave very little to chance. Most people who bought my vids were experienced option traders with TA experience they were able to apply immediately and many are very successfully duplicating my results.

As much as you hate to hear that it's a fact and I'm sorry you can't accept it but that's really not my problem. It's yours and it's only yours because you are making it yours. How appointed you policeman of everyone? You underestimate people and your condescending and patronising tone is loud and clear for all to hear. I've even had emails to that affect singling you out specifically. You're not all you think you are and your posts are proving to all how sour an individual you really are.

 

[Trembling Hand]

2. "If" people ask, I say that on average they should trade no more than about 20% of their total investment portfolio on this style of high risk trading and take no more than a 10% loss. This equates down to a overall risk of about 2% on their entire portfolio. Most of my clients have portfolios of over 200k so to risk 10% of a 20k trade is nothing to them. If they use more than that on a trade it's on their heads not mine.

Now again working with your recommended 2% risk per trade and taking your ANZ example from 2009!!

Your size was 27 contracts. Purchased at $0.825 total value being $22,275.

Assuming from the above statement you will be stopped out after the oppie moves 10% against you, in the ANZ option example that would be $0.085 or,

27 contracts X 1000 X $0.085 = $2295 loss. Making your recommended (by you) account size to take such a trade would be $115,000 ish? Correct?

You made $3375 less brokerage.

______________________________________________________________


Would that be correct. Hows my calculator going today Bill?

 

[OneDayWealth]

So the above would make the quote below BS?



Just part of the spiel?

lol, you silly man. Not at all. There is no conflict. They are free to use as much as they wish. Those with less than 50k in their accounts often just dabble with just 4 or 5k. You really are scraping the bottom of the barrel now. Keep trying.

For you to have a defamation case you would need to have a reputation in the first place....which is questionable by the low class comments you have subjected ASF posters to (i.e I'll rip your ****ing head off).

LAW:
"If the published material lowers the person's reputation in the eyes of members of the community".....i would argue you had no reputation to begin with.

Thank you for you informed comment.

No, I don't need to know what your MA settings are (EMA, SMA, 20 , 30 day etc). I was after some indication of the performance of the system but you've already said you don't test systems beyond paper trading.

lol, now you're scraping and twisting my words. That's not what I said at all. Read before you speak. You're embarrassing yourself.

 

[sinner]

You better get the salt and pepper out.

I have been called everything under the sun including all those things I just mentioned. Are you freaking kidding me? Calling someone a crook, a scammer, a spammer, a cowboy and all compliments I suppose? Give me a break. Why would you even post that unless you haven't read this thread at all. Even in the last few pages there are several instances of all.

Thanks for your useful post.

Guys check out this thread I just found on the net

http://www.moneymakergroup.com/Onedaywealth-t238080.html

Aside from the sheer scammy nature of the website, check out Bills trading record for the start of 2009 (post #7).

From examining the linked thread, I would put Bills R:R at 1:1 or less. I am starting to wonder how it's possible all of his students were trading sane risk levels of *1000 options with a $20,000 starting balance.

At first I was wondering how Bill had continued to trade like this without blowing up, but at $5,000 a pop to "train" in his "course", I no longer have any questions.

 

[OneDayWealth]

Now again working with your recommended 2% risk per trade and taking your ANZ example from 2009!!

Your size was 27 contracts. Purchased at $0.825 total value being $22,275.

Assuming from the above statement you will be stopped out after the oppie moves 10% against you, in the ANZ option example that would be $0.085 or,

27 contracts X 1000 X $0.085 = $2295 loss. Making your recommended (by you) account size to take such a trade would be $115,000 ish? Correct?

You made $3375 less brokerage.

______________________________________________________________


Would that be correct. Hows my calculator going today Bill?

Way more actually.

 

[wayneL]

I'll thank you not to put words in my mouth. Your superman complex is getting the better of you Wayne. I've never said my course is aimed at inexperienced people - they are your words. People pay me to show them how I do what I do and I do that. You seem to have a real problem and I think it stems from your patronising view of traders. You think they are all hopeless and need coddling. In my experience nothing could be further from the truth. In fact I have often referred to my stuff as being suitable for the experienced option trader so I really don't know where you got that from.

You can carry on about your own mumbo jumbo the fact remains. I do well at this, I am very successful at showing people what I do. My movies are extremely well made and highly detailed and leave very little to chance. Most people who bought my vids were experienced option traders with TA experience they were able to apply immediately and many are very successfully duplicating my results.

As much as you hate to hear that it's a fact and I'm sorry you can't accept it but that's really not my problem. It's yours and it's only yours because you are making it yours. How appointed you policeman of everyone? You underestimate people and your condescending and patronising tone is loud and clear for all to hear. I've even had emails to that affect singling you out specifically. You're not all you think you are and your posts are proving to all how sour an individual you really are.

Pfft. You're trying to throw up a smokescreen Bill.

Apart from being nonsense, it doesn't take anything away from what I said, that your system has massive inappropriate delta risk and massive unnecessary contest risk.

Them's the inescapable facts.