Hi all, my name is Ethan Solomon. I am lead developer on Trade Unafraid. After seeing Lee’s success with the app over the last month and a half, and being that I have a bit of experience trading myself, I decided to give our app a shot.
Due to my time constraints being so busy coding, as well as having a cash account, I was only able to make 23 trades since August 11th when I started. The results have been, by far, the best I have ever had over a two-and-a-half-week period. I funded the account with $2000, and each trade had a cost basis between $750-1000. I have totaled $720 in profit so far after fees, with an average gain per trade of around $80, and an average loss of around $45. Over the next few days, I hope to post some more detailing some of the stuff this app can do, but first, let’s talk about my experience using this app.
There are a few things that distinguish those that succeed in trading from those who fail.
1) You have to keep your composure. Following your own rules is an absolute must.
2) When your break hits, you can’t hesitate. We’ve all been stuck chasing our trade 20 cents past the entry point.
3) When your exits have arrived, you must be able to sell, cold-blooded and fast, because you know every second that you hold on too long costs you a few percent each trade.
4) Keep your losses small. You can be someone who wins on 40% of your trades and be extremely successful, if you catch the real breaks, and get out quick on fakes.
5) And, if you’re trading options, choosing options that won’t get you killed on the spread.
Enter Trade Unafraid.
I used to be a trader that sat at my computer, with my finger over the sell button. Or holding on much longer than I wanted to, or getting stuck cancelling other, conflicting, orders I placed while cursing and crying as my position fell. Not anymore 😊.
Now, while I work on adding features to this app, all my trade plans are played out in the background (entered usually at around 9:35 once things settle a bit, then just left and adjusted throughout the day when I get a chance to check how things are going), and yet, my trading has become 10 times better than before.
From my experience so far, this is what our app will add to your experience:
1) Perfect composure. It never breaks your rules, hesitates, or is slow in buying/selling.
2) Optimized entries and exits. When you want to buy on a break of a certain price, you actually buy it at that price. Your entries and exits occur exactly when you want them to. We execute with amazing speed. To demonstrate this, a few days ago, I actually got a wash trade attempt order rejection, which occurs when you place a buy order and sell order in the same second. What really happened was that we bought, confirmed the purchase, and placed resting orders too fast 😊. (Of course, we've fixed that issue. The point is, there is no way for a human to trade this quickly and accurately.)
3) Option management. Based on the options you provide us and your selection criteria, the software analyzes to find the best option, using recent data to determine which options will give the best spread, a certain price range, etc. You will trade the best option there is at the time your trade triggers, as opposed to locking into an option in advance, and then when it's time to enter, you find that your option is no longer desirable.
4) Conflicting orders and multiple exit strategies at once. The conflicting orders benefit is obvious. Trade Unafraid handles your order quantities to make sure it is possible to have resting orders out there ready to grab profits when once you enter but still cancel and replace with closing orders when things go the wrong way. This is probably one of the biggest reasons my wins are almost double my losses. My profits are taken as soon as they can, and my exits occur as soon as they happen. But the ability to set up multiple exits at once is just as powerful. We all have inklings of what are the best times to sell through our various experiences. Whether with price trails, candle trails, loss limits, detecting head fakes, there are so many valid exit signals. But tracking all of these in the heat of a trade at once (especially when you're trading an option on a stock), is enough to put a person on complete mental overload. With Trade Unafraid, you can be trading 5 OAD’s at once, with 7 different exit tactics each, and there is no problem.
These are my trades for the month: