Chart Man Dan DOES make a differenceFreedo wrote :
I’m afraid Dan isn’t that influencial on these weed stocks.
His MJ videos get 3-4K views.
Theres tens of millions getting traded daily with the big names.
Do you really think he makes that much if a difference?
Response :
3,000 to 4,000 is a LOT of traders
lets say 1,000 act onit and spend $ 10,000 per trade = $ 10,000,000
The daily dollar volume of 5 to 10 million does mean million of traders but rather only hundreds or thoudands or traders using the "big name" trading houses as clients of those houses.
Last year I did join Chart Man for a few months trial and there is a morning strategy session and a chat room whereby an "agreed concerted" effort is planned and put inot actionat a "certain predetermined" times based on 5 minute and 15 minute "higher highs & higher lows" and "lower highs and lower lows".
To succeed you need those professional charting programs and 3 monitors with real time quotes and S & P news flow AND lots of dedicated time AND control of emotion. Even then some unforeseen event overides the best planning like the Aug 14 Constellation/Canopy buy in of 5 billion or earnings that surprise on the upside or downside or other world events.
I left the Chart Man Dan chat room due to inability toi control emotin of fear and greed but I still watch his videos and I believe they do have SOME (maybe even substantial) effect because the herd does follow him and there is a bit of "a self fullfilling prophecy" where trends continue or abort as the buyers or sellers suddenly act in concert in a certain direction.
Bottom LIne - It is GAMBLING- the biggest casino in the world.
You should invest in the market only what you can afford to lose.
As the Lottery slogan says - "Know your limit and stay within it !"