Karl Domm here representing my YouTube channel called Real P&L. On Thursday, May 14th, 2020, I signed up for Dan Parker’s True Trader. I’m taking the course to share my experience. Notice that below I don’t have an affiliate link for truetrader.net. That’s because I’m here to give my real experience and my honest opinion. I want to make it clear that I’m not going to be giving away any proprietary information regarding Dan Parker or truetrader.net. I’m only going to give my personal experience over taking the course on a daily basis.
One of the things I wanted to get out there was what are my expectations in this course? And so I put together a little clip here of Dan because I see him all the time on YouTube. And so if I show you this clip, I think you’ll get a good idea of what my expectations are going in. So let me show you that.
Dan Parker: And it works every single day, especially the first 30 to 60 minutes of the market open for consistent daily profits, with minimal risk.
I can make 2 to 5% per day trading these names, with minimal risk, in the first hour of the morning.
I’m cash by the close every single day.
System to make returns on your account every single morning.
Only way to make consistent profits in the market is look for 2 to 5% trades every single day in the first half an hour of the morning. I am probably the best trader online that’s public and showing all of his trades live, for real, on his site and in his room, and calling them live in real time over the mic and screen-share. Everyone sees it. I have nothing to hide.
I make 2 to 5% trading stocks every single day play real liquid names like Visa and Disney.
What you can do and what’s legal is day trading stocks every single morning for 2 to 5% gains. I know how to make money in the first 30 minutes of the market open and never holding any positions overnight. I hate overnight risk. I hate gap downs. I just hate it. 30 minutes, boom bang, I’m done. I’m off to enjoy my days. Now you can pretty much copy me for 2 to 5% gains every single morning. I’ll see you soon.
Karl Domm: This video was on week number two with truetrader.net. Monday, May 25th was a holiday. So the second week started Tuesday, May 26th, and ended Friday, May 29th in 2020. Every single weekday morning, I was up and glued to my computer screen from 6:30 AM to 7:30 AM Pacific time. And here’s what I found.
It’s day 7 with Dan Parker and truetrader.net. Today is Tuesday, May 26th, 2020. Coming into today, my thoughts were I’m still trying to figure out my sizing, my risk per trade. So when asked in a forum, I think it was the beginner questions forum, how much they should risk per trade, and they were talking about 1 to 2%, and Dan actually answered and said, “It’s not how much you initially risk. It’s about how much you give back if the trade goes against you.” So that’s still a little bit confusing for me, to be honest. So I’m still trying to get my sizing down.
Today’s stats are I had 13 canceled orders, 2 rejected orders. I had 6 filled orders. Dan traded two stocks. And remember, when the day’s over, I just flattened out all my positions at 7:30, which is one hour into the trading day.
Here are some of the insights I had. On TOS, I want to change a couple things on my platform so I can see my open positions in the same tab that I’m in, rather than having to move from one tab to the other. Dan used TOS today for the first time. He was using another platform. The thing is with this platform that he’s using TOS, the same one that I am, I can’t see his open orders.
He said he got in on a small size on a stock in the 82.40s. But when he announced that, he got long, the stock was already at 82.54, and said, “Do not chase it.” So it was too late to get in there. And I saw it on the screen that he filled an order, but I didn’t see an open order, so I couldn’t join him with that. Now I had already had an open position because he had called out that he was going to get into a certain trade. Actually, he had called out that he was going to get into a trade after he had already kind of gotten in and then I was able to get in at a better price. So that’s the only reason why I was able to get in.
So at the time I was in a position with my 400 shares, remember I’m doing 800 shares, $1 to $10, $10 to $100, 400 shares, 100 to $150, 300 shares. So I’d already had 400 shares on. And then he said, “Okay, we’re going to go ahead and get into this other trade.” And I could only get in with half of my position. It was a $80 stock and I could only get in with 200 shares. So I was maxed out. So it looks like I can only trade one to two stocks at a time.
So what happened with that position that remember I got in at a better price than Dan here, I got in at this 80.70 mark. He’d got in around 81.15 or something like that. So because when he was mentioning that he was going to add to his position, that’s when I went ahead and got in for the first time.
So he was adding to his position when he got down and he actually exited half of his position at a $300 loss. And then he said he’s going to hold it for another 50 cent profit, which I’m assuming would have got him just around break even.
So I kind of followed his exit strategy and I was able to actually come out with about $46 ahead, only because I got in at a better price than what he did.
So one of the things I learned is I guess sometimes you’re just not going to get in with him, but there are times where you’re going to get in better than him because the stock continues to move in the direction where it initially was, because we’re looking for reversals, of course. So when the time hit where it was a 7:30 or it was time for me to get out of the market, I closed all my positions out. Dan, at one time, was down $1,000. But when I closed everything out at 7:30, he was down $475.
So just to recap, I had 13 canceled orders, 2 rejected orders, and that was due to not having enough buying power. I traded two stocks for a $43 gain. Dan had two stocks and he traded for minus $475. Those positions were open when I left at 7:30. My account balance is $25,718. And I started with 25,000, so I’m up $718. And so there you have it for the day.
It is day 8 with Dan Parker and truetrade.net. Today is Wednesday, May 27th, 2020. Coming into today, my thoughts were, I have not seen any portfolio P&L. I’ve only seen spreadsheets on the website. Looking over my records and Dan’s results for the last week on his spreadsheet. The numbers don’t seem to match up. One example that was kind of interesting to me is on my day two, which was on May 18th. I showed that he made $3,444 and that was one hour a day into trading when I left. And then when I look at his results, he only made $427 that day. So I thought, wow, that’s interesting.
So there must be some things going on after the first hour, but I don’t have time or I’m not taking the time to stay with him after the first hour. And I think what he does is he ends his livestream and then he goes on Discord and he kind of states what he’s doing and kind of updates you throughout the day. But again, based on my expectations, I only want to be with him for the first hour of trading.
Today’s stats are I have four canceled orders and one rejected order, for lack of buying power. Dan had zero fills and zero stocks traded today at the end of the hour. It looks like Dan took a loss from both stocks from yesterday. His numbers are showing about a $475 loss. That’s pretty much what I had at the end of the hour. But he did mention in Discord that he had to sell towards the end of the day because the market was falling. So I know he didn’t get a very good price. But I don’t know if he got back in at a lower price. I really don’t know what happened because I was not there after the first hour.
And I’m still trying to figure out what kind of sizing am I going to do in order to make that 2 to 5% or maybe that 1 to 2 points per trade. And I’ve noticed that once I put on a trade or I put on a potential trade, it uses up all my buying power, and I only have enough to put on maybe another half of a trade.
So it’s like my capacity is to do one and a half trades, because I’m trying to get it up enough, I’m trying to do 400 shares, to where if I make 2 points, I can make that 2 to 5% on my $25,000. But I’m having difficulty.
If we’re tracking or trying to get into more than two stocks, I don’t have the buying power to do it, and I kind of have to pick and choose. That’s what I had to do today. I had to choose one stock over the other. There were three stocks that were kind of in play. I had to just pick two out of those three and just go with those because I don’t have the buying power.
Now compared to my options portfolio, I have one with a larger account, one with a smaller account. Yesterday, I had one of my positions fill for a $2,000 profit. It took 14 days for that to happen. My risk was extremely minimal and my monitoring was only 30 seconds a day on that particular position.
So just to recap, I had four canceled orders, one rejected. I had zero stocks traded for zero gain. Dan had zero stocks traded for zero gain and I started with $25,000. And now my account is worth $25,718. So there you have it for day eight.
Day 9 with Dan Parker and truetrader.net. Today is the 28th of May, 2020. Coming into today, I thought I may only be able to get one position on if Dan calls it out, and also it needs to go against him. That’ll give me enough time to get in. If he gets into a position where it goes in his favor right away, I don’t think I’m going to be able to get into it.
Today’s stats in the first hour of trading are I had four canceled orders. Dan had zero filled orders. Dan had zero stocks traded. I had zero stocks traded. And here are some of the insights that I had. What I found is a good way to follow Dan is because he’s scanning the stocks and I’m just waiting. And most of the time he’s silent when he’s doing these scans. So when he speaks, that’s when I get my fingers on the keyboard ready to go, because he’s going to talk about his position as he’s getting in. So it’s a little more relaxing if I know I can just wait for him to speak before I really need to take action.
On my open orders, he talked about one stock. So I did put an open order in on that stock. And then he went on to talk about a second stock. So when I put an open order on the first stock, I did 400 shares, but by the time he talked about the second stock, I was like, “Wait a minute. I’m going to have too many shares at this one because I don’t have enough buying power to put 400 shares on stock number two.” So I had to split that order up 200 and 200. And then if I get one of them filled, I’ll hopefully be able to cancel the other order and then add to my current position. But that’s only if the position goes against me right after I get in.
One of the things I’ve noticed here is about half the day so far Dan has not taking on a trade. So I’m just sitting here on alert, glued to my screen for an hour, with nothing happening. And that’s on about, again, one-half of the days that I’ve traded so far. Compared to my modern options portfolio, one with a larger account, one with a smaller account, today it took less than a minute to manage both accounts. All he did was place a closing order on one of my positions, and it’s a limit order, so it hasn’t gotten filled.
So just to recap, I had four canceled orders today. I had zero stocks traded for a zero gain or loss. Dan had zero stocks traded for a zero gain or loss. And you can see, I started my account with $25,000 on May 15th. And now I have a balance of $25,718. So there you have it for a day 9.
It is day 10 with Dan Parker and truetrader.net. Today is 29th of May, 2020. Today’s stats are looking, at the first hour of trading, I had six canceled orders, you can see those here, and two filled orders. You could see that. Dan had two stocks traded and I’ll get into a little bit of details on that.
The first stock that he traded, I missed it by about three seconds, I couldn’t get in. Because by the time it was a long, and so by the time I went to go place my order, Dan had already went higher, and so I couldn’t chase it to get in. Dan ended up making a small amount of money on that. He did not hold it very long and he did not wait for maybe $1 or $2. He made 185 bucks on that trade.
The second stock was kind of the main trade of the day. I was looking at the screen. I didn’t hear Dan talk. I’m looking at the screen and I see this order filled. And so I’m like, “Oh, let me see if I can get filled.” So I did, I actually able to get a better fill than what Dan got. But I still couldn’t hear anything. So I got my fill and I went in to put my stop order in case I lost money, I wanted to make sure that I had a stop loss in, and accidentally put in this order right here. I actually put in a limit order, but I didn’t put a stop limit. So I got long at $8.35. And then at the time, unfortunately, when I put the limit order in, the stock went down and I put my order in and I put a limit order and it got filled. And so I had a loss of $124.
And then I tried to put in another order at $8.05 to try to buy it back, so I can just kind of get back in it at the same price. And it just took off and went up, up, up and up and never gave me another chance to get back in. And so due to execution error, I took a loss today. I would’ve made a gain. It probably would have been around $100 gain based on what Dan did and his kind of percentages.
He was in the stock at a higher level than me. I was just over $8.40, somewhere in there. And he sold out 500 shares at a gain and another 500 shares, and another 500. And then he kind of put a stop loss in and it came down to close to breakeven, and so he sold another 500 shares. So he kind of got out by 25, and 25, and 25%.
When you get all done with it, though, he made approximately 22 cents. So he wasn’t holding for 50 cents or anything. Mind you, this is $8 stock. So I’m not sure what he was trying to get, whether he was trying to get 25 cents out of it, or he was trying to get 50 cents out of it, because I couldn’t hear anything until he actually got down to about his last execution. So he had 500 shares left when his audio came back on. I guess he accidentally pressed mute. And so he did all that training and then the last 500 shares, I was able to listen to him talk, which I know that happens. I don’t think it’s that big of a deal. I was able to semi follow him anyways. I wasn’t sure where to put my stops. I wasn’t sure where to put my profit target because I’m sure that he mentioned it, but it was all muted out. But I was able to watch him trade it. I was able to notice, oh, he just sold 500 shares. So I saw it happen, but I didn’t hear it.
But overall, on that particular trade, he made about $450. Based on the information that I’ve seen in the website and on here, he talks about his results. And so he has an account and it’s worth X amount. I don’t want to get into what it’s worth or anything like that because it might be proprietary. But I know based on his account, in order to make 2 to 5%, he’s got to trade a certain amount of shares, especially at this $8 level. And he didn’t trade anywhere near the amount of shares that he needed to in order to get a 2% return, especially targeting at 22 cents. Even if he would have targeted at making a full dollar on this trade, he still would not have made 2% return. Now maybe he is waiting to do multiple trades on multiple stocks, and so he’d make a half a percent on this one and a half percent on that one. That’s fine. I’m sure that’s what it is.
One thing kind of interesting that I just realized is I’ve never seen Dan take a loss during the first hour of trading. I’ve seen him take losses as he held after the first hour and then he got out later in the day. But during the first hour, I haven’t seen him take a loss.
So this is the end of the week. So let me just recap here. I had six canceled orders. I had two stocks that I traded for. On my error, I lost $124. So there are trade execution errors that happen to guys that don’t trade all the time, and that’s going to be a part of the deal or it’s part of my deal. Dan had two stocks. He traded for a $636 gain today. On May 15th, when I started my account, I had $25,000. My current balance is $25,594. At the beginning of this week, I had $25,676. Now I have 25,595. So I’m down $82 for the week.
Dan, within the first hour, he made $636 today. On one of the other days he lost $475. And the other three days, he didn’t even trade. So he made $161 this week, according to my numbers. I don’t know what he did after the first hour. Those are the numbers that I have though. So there you have it for day 10 and the end of week number two.
Overall, please notice that I spent $395 on this course. I spent over 30 hours taking this course and I spent at least another three hours on this particular video. If you are interested in how I trade you can sign up for my free course in the link bellow:
Link to my FREE Proprietary Course https://real-pl.com/landing-page-1/