Karl Domm: 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 in the first 30 to 60 minutes of the market open for consistent daily profits with minimal risk. I can make two to 5% per day trading these names with minimal risk in the first hour of the morning. I’m cashed by the close every single day.
System to make returns on your account every single morning. The only way to make consistent profits in the market is to look for two 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 two to 5% trading stocks every single day playing liquid names like Visa and Disney. What you can do and what’s legal is day-trading stocks every single morning for two 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 day. Now, you can pretty much copy me for two to 5% gains every single morning. I’ll see you soon.
Karl Domm: The video is on week three with truetrader.net. The third week started Monday, June 1st and ended Friday, June 5th in 2020. In one of my earlier videos I was struggling a little bit with trade execution. You probably remember one of the videos in the past, and I actually talked to somebody from thinkorswim and whoever I talked to was the wrong guy, because they didn’t figure out how to make this happen, So I figured it out on my own while I was playing around.
After a couple of weeks, I figured this out. So this is week number three, when I started trading like this. So first of all, you’re in your charts and you’ve got your side tab here and you got your trade tab, and so I set it up to where you have your stock and your positions, and of course the chart.
And I put this chart over here, the daily chart. I don’t really look at it too much. I’m really focused in on this. Immediately, the first thing I do is when I hear something called out, I’ll put in the symbol, and then I will immediately look at the price. That’s a $300 stock. So I’ll probably go with a hundred shares or, let’s just go to this one. Okay. That’s a $56 stock, I’ll probably go with 500 shares. Boom. I hit the 500 right there and then I will be ready to execute.
Now, see, this is the problem I was having, where I had to do multiple steps, but here you just put the stop limit order. That’s the parent order. So that’s the order that’s going to happen when I put it in. So let’s say that I wanted to get long here at 55 or 55.85, so I’ll just put my cursor there. I’ll right click and hit buy, and send.
And you can see that I have 500 shares ready to buy at that level. That’s because I put the 500 in there. Or I can do the same thing if I wanted to short, I come up above the market, right click, sell, and it’s already set for 500 shares and it’s at a stop limit. And so, I hit that.
So that’s how I execute my trades right now, and so I can get in there. I can put it like right there and I can say, I’m going to buy right there and it’ll fill based on where the price is.
So I wanted to go over that is one of the things that I learned. I know there are faster ways to do this with hot keys, but I want to just show you the way that I’m comfortable trading because I can get into a stock within about a second, two seconds, maybe three. I can just boom, figure it out. I know the symbol. I see how much it is. I decide how many shares, I put that in right away. This is already set. I know what level I want to get in. I right click right there.
So this can all happen within about one to three seconds, so it’s pretty quick, maybe not as quick as some of the other guys with the hot keys, but this works for me. And I just want to let you know that I updated the way that I execute the trades because the guy at thinkorswim that I talked to, he wasn’t knowledgeable in terms of being able to set this up this way.
Now, I’m going to go ahead and get into my daily recaps. Today is day 11 with Dan Parker and truetrader.net. Today is Monday, June 1st, 2020. Coming into today my thoughts were, there are recommendations for every day before the market opens, so there’s stocks to watch, but I can’t do limit orders. I can only do maybe one or two limit orders because I don’t have enough buying power because my goal is to make 2% per day. So I have to put trades in at a level high enough to where I’m going to try to make 2%. And when I put trades in my buying power goes away, my limit orders, when I put them in.
Today’s stats, in the first hour of trading, I had 12 canceled orders, one rejected order. I had two filled orders. Dan had zero stocks traded. So here are some of the insights I had. There’s a guy on there today, I think his name is Ricky, he took one point, but I didn’t see it on the screen. I just heard him call it out. I don’t know if that is going to be part of the results on the website. I’ll check that later because the results usually show up about a week later.
Dan did a call out to put out an open order, which a lot of times he calls it out early. He says, if the stock is, say, at a hundred, he says, “Okay, I’m going to get long at 99,” so you have a little bit of time to put your order in there, our limit orders. And so, he called one out for a stock and I tried to put it on and you can see here, I got rejected because I tried to go short and it wasn’t available to short.
I’m not sure how he was able to put his order in, but he didn’t eventually, neither of us traded it, so we really don’t know if he would have been able to get that one on. I was following him. He was calling out this one stock, I call it stock number two of the day. And he put in an order, I saw the order. So I copied it because, like I said, he’ll call it out before it actually reaches there. And my order got filled and I looked over at his screen and he moved his down. So he didn’t get filled. I did, but I was trying to copy him.
On that, he also broke those orders into a third, a third, and a third. So if they stock continued to move down, we were getting long. As the market continued to move down we would add a third, and if it went down again, we’d add another third. But none of that happened, the only fill was the highest order, the easiest one to fill, and he didn’t even get filled because he moved his order down, tied to get a better fill at the last second, which I didn’t even notice until after I filled.
He did talk about making a trade that could happen at any point in the day. But again, I’m in and out of there in an hour, so I don’t care about those. And I was also getting an order error, which is interesting. I was trying to put in a limit order, not that I was going to get filled on it because Dan never got filled so I’m sure I would have never got filled, and it says, well, it rejected my order because the price increment needs be at 1 cent increments.
But when I looked to place my order, I couldn’t put it in at 1 cent increments, I could only put it in at something beyond one cent, .015, and I guess the only way to put that in would have been manually, but I just was trying to do it with the format in a quick way, and I couldn’t get that order in, which didn’t end up being significant anyways.
So I did flatten out at 7:30. I just closed everything out and I actually made, as you can see here, $68. This trade was down at one point, it just happened to be at 7:30 it was up, so I got out, made a little bit of money.
Compared to my modern options portfolio, today I looked at the portfolio for literally five seconds and knew that I didn’t have to make any adjustments and I was done for the day, and I’ve made almost 5% this month with my options portfolio. So just to recap, I had 12 canceled orders, one rejected. I had one stock traded for a $68 gain. My goal is to make 2% or around $500, so I was not able to do that. Dan had zero stocks traded for $0 gain or loss. On May 15th, I started my account with 25,000. My current account balance is $25,662. And there you have it for day 11.
It’s day 12 with Dan Parker and truetrader.net. Today is Tuesday, June 2nd, 2020. Coming into today my thoughts were, I haven’t seen Dan take a loss in the first hour, but I can’t remember if he ever gives us stop loss right when he gets into a trade and I’m going to pay attention to that today, see if he gets into a trade, whether he calls out a stop or a loss level.
Today’s stats are I had seven canceled orders, four rejected orders, four filled orders. Dan had one stock traded. And here’s some of the insights that I had today. Dan called out a short on, let’s just call it stock number one, and I could not get short. I’m in thinkorswim, and I noticed in the chat room there were a few people that were also, they couldn’t get short, and I guess it has to do with the thinkorswim. Dan did make money on the trade. He made approximately 70 cents, but I don’t know for sure because he didn’t show his executions on his screen today.
So this is the first day that I didn’t see any type of fills on his screen. He called it out. He said he did that, but I don’t know for 100% sure and I don’t how many shares. And then, one of the things that happened today was, see this alert right here? You can put it wherever you like. Dan will have alerts on a screen like this, and when they hit the alert, I’ve seen him execute trades. So when I see alerts like that, I put in orders to be executed.
And so, today I saw an alert on a specific stock, let’s call it stock number two, and so I put in an order to be filled at that alert level. Well, his alert went off and my order got executed, and so I got into a trade that he did not get into. And so, when I did get into the trade, you can see I got in here with 800 shares at a price of about $3.51 cents. I went long.
And so, one of the things that was interesting was when I went to get short, or in other words, I went to put it in my stop, so for example, say I was a long 800 shares, and then I went to put in my stop, so I’ll just right click here, and then I’ll go to sell, and I need to make this a stop limit.
And so, when I hit this, I had 800 shares. No problem, right? I’m going to short a hundred shares up here, which it showed. So it’s up here waiting to fill my order, but when I went to go ahead and put my stop loss in down below, and I went to go put my 800 shares in, it wouldn’t take my order because there’s no shares available to short, right? So I can only short the shares that I actually have.
So what I had to do is I had to split that order in half, and so I had 400 shares where I would take a loss and 400 shares where I’d take a gain, but I couldn’t put the full 800 shares in there because I only owned 800 shares, I couldn’t short anything extra. So one of the things I did, I had another trade execution error. So when I went to, for example, here, sell and I went down below what the market was, and I went to send in the order, it was just a limit order again, I forgot to put the stop. Either stop or stop limit, and it filled my order right away, of course.
So I got filled for 400 shares right at the market, but it actually got filled at a profit so at a slight profit, about a $40 profit, so actually made money on accident. And then, I immediately got back in and lost about 7 cents when I got back in, but I did lower my basis. In other words, my 800 shares now cost me less money, so I had the ability to make more money because of that mistake.
But just again, looking at trade execution, make sure, so I’m right-clicking here. I’m going to buy or sell, but I got to make sure we go in here and we put this. The limits orders okay to put in when you want to buy, but when you already have a position and you want to get stopped out, make sure you use a stop on here. So I’ve done that twice now, I’ve made a trade execution error, and I think both times they’re worked out in my favor anyways. No, actually one time that did not work out in my favor and one time it did.
So just a little bit about trade execution. Also, earlier in the day, I wanted to pay attention to, if Dan put on a position, did he immediately call out where he was going to take a stop loss? He did call out a position. He did put a position on, I did not see it. And he did not call out when he was going to take a loss. I specifically paid attention to that. So I thought that was interesting.
So just to recap, I had seven canceled orders, four rejected orders due to the inability to short, I had one stock traded, I lost $156. Dan had one stock traded for a round of 60 to 70 cent gain. I don’t know how much money because it didn’t show on his screen how many shares that he traded. And on May 15th, I started this account with $25,000 and my current balance is 25,506. So there you have it for day 12.
It’s day 13 with Dan Parker and truetrader.net. Today is June 3rd, 2020. Coming into today my thoughts were maybe I should try to trade without help, but I still have many unanswered questions so I need to stick to following along to make sure that I get those A plus trades. So the stats are, I had 15 canceled orders, I had zero filled orders. Dan had one stock traded.
Here’s some of the insights of the day. Dan traded a stock, let’s just call it stock number one, and he did it very quickly. And by the time I tried to put in my order that stock had already gone away, he was already in profit and he literally took profits. Within about 10 seconds, he took half his position off.
So I’m thinking, well, maybe I should have my orders in before the market opens, but I can’t do that because I only have so much buying power, so it’s like, do I need to just pick? There’s 10 stocks that are in play, maybe I just picked two of them and hope that those are the ones.
But I learned today that if it’s a small cap, you don’t leave open orders, live orders in there, you watch it and you place the orders so you don’t get hit by the market. I also learned that the market was actually running up pretty good in the morning, and therefore I should not be shorting anything according to this system. So I canceled all of my open orders that we’re looking to short at that time, when I had learned that situation.
Compared to my modern options portfolios, I have this larger portfolio, I have the smaller one and those guys didn’t require any adjustments today. I looked at them for about 10 seconds and I was done for the day. Of course, I always look at them during the day, but I know I don’t have to do anything.
So just to recap, I had 15 canceled orders, I had zero stocks traded for a zero gain or loss. Dan had one stock traded, he made $936. And on May 15th, I started with 25,000. My current account balance is $25,506. And there you have it for a day 13.
It’s day 14 with Dan Parker and truetrader.net. Today is Thursday, June 4th, 2020, and I’m here to give my opinion. And coming into today, my thoughts were, I want those A plus trades, but new rules seem to be added to the mix, and so I’m not feeling comfortable that I’m ready to trade on my own, so I want to just follow along.
Today’s stats are I had 16 canceled orders, I had one filled order. So here are some of the insights that I had. There was another new rule added today. I don’t remember that being a part of the course, this particular rule that was talked about today.
Compared to my modern options portfolio, which has one larger account with portfolio margin, one smaller account with regular margin. I just looked at it for a few seconds. The positions in both accounts are close to hitting their profit target and filling with my good until canceled orders that are just set up automatically.
So just to recap, I had 16 canceled orders. I had one stock traded for, you can see here, $80 profit. Now, my goal is to make five to $600 a day because that would be over that 2% mark, and my opinion is that Dan did not make over 2% trading today. And on May 15th, I started my account with $25,000 and my current balance is $25,586. And there you have it for day 14.
It is day 15 with Dan Parker and truetrader.net. Today is the 5th of June, 2020. The information in this video is my opinion and my experience. Coming into today, my thoughts were I’m losing confidence at this point that I’m going to be able to hit my goal of 2% return on my account today. It’s only happened one time in the last 14 days.
Today’s stats are, the first hour of trading, I had seven canceled orders. I had zero fills. Here are some of the insights for the day. I was looking forward to seeing Dan, his positions, but another guy took over and he was showing his screen on the livestream, and unfortunately I did not get to see any of the trades that were executed. All I saw were a bunch of graphs, and this guy called out trades that he made.
And in my opinion, I don’t really know whether those trades were made or not, because I didn’t get to see them executed, and he did say that he made a very high dollar amount, but in my opinion, I don’t know if he really did that or not because I did not see the trades executed on the screen.
Compared to my modern options portfolio, one larger account, one smaller account, my larger account hit profit target yesterday, so what happened was it just filled an order, I wasn’t there at the time. Came in today, put on a new position, took me about 10 minutes. And so, yeah, I spent maybe 10 minutes a day on my portfolio account, but I am making money on it too.
So just to recap, I had seven canceled orders, I had zero stocks traded for zero gain. My goal is to make two to 5% per day in the first hour of trading, which is approximately $500 or more. I did not hit that goal. My opinion is that Dan’s account, in the first hour of trading today, did not even come close to making 2%. On May 15th, I started my account with $25,000. My current balance is $25,586. And there you have it for day 15.
So just a week three recap, I’ve been 15 days into this course and I’m looking to make 2%, or approximately $500 per day. My balance at this point should be about, well, 15 times five, that’s $7,500 plus 25,000 that I started with. So it should be about $32,500, but my balance is $25,586. So I am up, but it’s 2.3% in three weeks, not two to 5% per day, nowhere close to the $32,500. Now, my calculations are that Dan is approximately up about 5% over the last three weeks.
Overall, please notice that I spent $395 on this course. I have spent over 30 hours taking this course, and I’ve 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 proprietary course bellow.
Link to my FREE Proprietary Course https://real-pl.com/landing-page-1/