Last week I received an email from the BullsOnWallStreet room showing how well Kunal had done ($27k) in the month of December. I am familiar with the guys there for a few years now from twitter and having dropped in on the chatroom a few times. Well I couldnt pass it up and joined again.
Wow, just the way I remember it, what a roller coaster! 🙂 Unfortunately for me a down week though Kunal according to MaryBeth’s posting banked $12k that week(1/6-1/10). I will give my thoughts on what I feel may be going on over there and if these results are possible for chat room members. Here are some things I have noticed and screen captured to date.
-) the guys are very active in the markets*. I would say from everything you will read on their site and when interacting with them they are an energetic, nice group of people. He answers most questions in chat.
-) a video** link is provided daily, though it tends to halt numerous times thruout the day.
-) the emails, education materiel provided by them will help any one new or who is struggling.
-) nightly watch-lists from one of Sayed, MaryBeth or Kunal.
-) Szaman(Sayed) and Fuinhaz, 2 other traders who to my knowledge are there almost everyday. Sayed is employed by BoWS as is MaryBeth. I would say these guys when they call out a trade entry, it is a fairly safe play, lower volatility trade relative to trades Kunal will take. Though Fuinhaz will have at times imo some very wide stops on small position sizes. Fuinhaz is part of the SharePlanner subscription service with Ryan Mallory. Szaman use to blog alot under NYCtrader and is how I found out about BoWS 2+ years ago.
-) BoWS offer you a chance to work for them (Clique hedge fund) though it will cost you from my understanding about 10% of your initial trading capital fee. Ex: if you pay them $2500, take the Level 1 course (3 videos) and pass it then Kunal who runs the fund will allocate $25k for you to trade with. You receive 99% of your profit until you get up to a certain point, then their cut increases. You work remotely and they will of course watch over your trading. No margin is given and only 20% overnight buying power. For the level 5 course it costs $15,000 and allows you to trade w/a buying power of $150k.
-) the way Kunal travels around and trades from Hollywood, Florida, Costa Rica, etc and enjoying his life would make anyone envious at least it does me 🙂
-) I tried to verify several days of chat room logs with Kunal’s trades posted in the chat room and his posted performance #s and everything seems to be on the up-up***.
-) Kunal always enters the trade before he calls it out in chat. This from Kunal’s perspective may not be a con. Though unless the stock pullsback(pb) or is moving very slowly you will not get his entry. This may not seem like a big deal but he tends to wait for b/o trades so you are always behind the proverbial 8-ball. Due to the liquidity you are most of the time deciding if you chasing****. Since I am also running the “video” chat I hear him call out the trade prior to posting it in the chat room and I try to enter right behind him. Out of 40plus trades it is rare for me to ever get his entry unless there is a pb after he calls it out. Today when I checked the T&S window he had entered at a price which was a minimum of 1+minutes before the call out in the video link, long before it is posted in chat.
-) Kunal somehow is shorting stocks that noone else is able to short. In the chat even his own fund Clique fund didnt have shares but he said he entered it. I tried 3 brokers with no luck and others also asked him how. This occurred a few times and resulted in some really big wins for him about $3k plus in 1 day.
-) Kunal never calls out his stop when he enters making it difficult on members to position size according to risk and volatility.
-) You get the feeling Kunal may be ADD. He appears, almost daily, to forget an entry until someone asks about it from chat like “where are we getting out” or “where is the stop”. Then he responds, to me this should have been very clear from the moment the trade is taken on or moments later.
-) The other thing that really bothered me is his almost “cowboy” style of trading at times. For instance if he takes a loss on a early trade it is not unexpected for him to re-enter a few minutes later with 2x the original share size and once again no mention of where his stopLoss will be. It is almost like he is trying to make up for his prior loss. This happened a few days ago in $galt he was short 1k shares exited with a loss, then re-entered a few moments later w/2k shares, $galt broke thru some resistance and Kunal was down now $1200 in this one trade, with no word on what he was thinking or where his stop was. This isnt how they talk about trading in their educational materail. Remember they say he is trading from a 40k account.
-) It is not uncommon for his exits to be at a pivot point and you hear it after the pivot is visible on the chart. He is lucky? 🙂
Overall I would say the chatroom service is a nice place for beginners to get a feel for trading. I would strongly suggest though you only paper trade in it. The room is way to unstructured for me to trade real money in, though I have twice for several weeks at a time. Kunals lack of calling out stops and at times seemly to forget about a trade is worrisome when there are real $$ on the line.
You never see Kunal take trades (**read below) and you strongly get the suspicion due to the Cons mentioned above perhaps he is just paper trading. With at least $15k+ per MONTH coming from subscriptions plus his bootcamp money (which he said one day is his biggest money maker) he isnt trading a real account. Looking into the performance logs posted onsite for 2013 plus the 1st week Jan 2014, it shows he booked $275,000!!?? so why is he is hollering one day at his webDeveloper to get the up coming bootCamp links on the site? So he makes more than $275,000 in bootcamp fees? I dont believe it. It would also explain why he always gets shares to short. Considering how open he appears to be about other stuff you really have to wonder why no screen of him trading.
*Over the last 4 trading days I have noticed Kunal has stopped trading by noon-ish. He is still around but not calling out trades. He has a trading coach and perhaps this appears to be something he is working on. So in the afternoon it becomes something of a free for all in chat of “look at this” stocks.
** due to the fact “video” chat is actually just a video of Kunal’s side profile (no view of his trading screen) you just hear him talking about making sandwichs, who forgot to take out the trash, who came in late, who drank too much the night before, berating the guy for not getting the bootCamp links on the site, girls…lots of bachelor stuff while in the middle of trading.
*** I tend to believe from all the evidence I have seen, viewed and hear that Kunal is paper trading and explains why he says his bootcamp is his primary source of income and explains almost all of the Cons.