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Dear Ullrich & Group,
I found DayForce about a month ago, and after procrastinating a week or two, I
signed up for a month of them 2 weeks ago Monday. Since then I have
religiously checked their website every morning and written down their
recommendations. It turns out, contrary to my expectation, that they recommend
3 stocks every morning, in High, Medium, and Low Risk catagories --- I had
thought that they recommend only one. I routinely load the first two into
charts I have from Quote.com and follow them through the day, although I have
not traded them as yet --- my mistake, my BIG mistake.
Now, right off the bat, I should say that I am not following the DayForce
protocol --- by intentional design. Its protocol is to find stocks that will
increase at least 1/2 point during the trading day --- in other words, they
contemplate only BUYING and recommend buying at the open and liquidating one's
long at the close. Frankly, I've always done better at selling than buying, so
I would prefer to sell, myself. Furthermore, while I believe that I have some
competence as a trader, and I enjoy the process of trading, I do not profess to
any degree of competence as a stock picker, and I don't enjoy that aspect of
trading. Just give me a stock index futures contract, and I'll be happy. So
what I am looking for with DayForce is not so much a stock that will increase
during the day as one that is volatile. And let me tell you, from my limited
experience with stocks (read something shy of zero!), the DayForce-recommended
stocks I find to be surprisingly volatile, and most of them have decent volume
to boot! There was one last Monday that appeared to me, as a consequenceof its
gyrations during the day, capable of producing some 15-20 points during the
day, in perhaps no more than 4-5 trades, the first trade at the open being
worth around 10, followed by a retracement of around 4, several trades during
the day for 1-2 points each, and a closing selloff worth around 4 -- the same
stock appeared good for another 5-6 on Tuesday, although it was not recommended
that day by DayForce. Yes, in my experience, that stock on Monday (MRVC) was
exceptional, but my subjective impression from the 13 days that I have followed
DayForce is that there have been perhaps 5 days with the potential for 5-10
points/day using aggressive, two-way trading and assuming that one could get
filled and filled reasonably upon shorting (a big reason among many for why I
prefer futures trading). Today, for example, the first two stocks recommended
(XLNX and AMD) seemed to me to be capable of producing around 3-4 and 5-6
points, respectively, over the day.
For me, at least, I have not seen a stock-oriented website that appears to have
have more potential for me and what I am looking for in a website, namely,
daily recommendations for 1-2 volatile stocks for that day. I encourage you to
check it out yourself. If you or another knows of something better, I hope
that you'll tell me about it.
Sincerely,
Richard
Ullrich Fischer wrote:
> Has anyone tried these guys? It sounds too good to be true, so it probably
> is. I heard about it from a spam email and sure enough, there is a site
> there, but unless I hear from someone for whom this has paid off, I'm a tad
> suspicious. -uf
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