Bulls on Wall Street Review
- Ease of Use (Website)
- Quality of Alerts
- Quality of Education
- Quality of Support
Bulls on Wall Street is one of the bigger, well-known day trading chat rooms on the web. The service is run by day trader, Kunal Desai and offers a variety of educational tools. The majority of the trading is based off of technical analysis. The strategies utilized in the chat room are explained thoroughly in the bootcamp courses, which provide an exceptional explanation of technical analysis.
About Bulls on Wall Street
Bulls on Wall Street (BOWS) is a trader education website launched in 2008 by Kunal Desai. As a day trader of the dot.com era, Desai has experienced both parabolic bull and harrowing bear markets and developed systems to trade effectively in both environments. By using social media tools, the site has grown into a community of like-minded traders lead by Desai and his moderators.
Bulls on Wall Street provide analysis and trade alerts throughout the trading day to subscribers of their various services in a transparent and entertaining format. Subscribers are given a fly-on-the-wall view of the decision making process in trading with live cams of charts and Desai’s trading station. The site also highlights the lifestyle that successful trading can provide with various video clips and pictures. The site markets three main types of products for traders of all levels; educational trading courses, swing trade alerts and day trading chatroom memberships.
While BOWS offers a swing trade (part-time trader) alert service operated by Paul Singh, the main emphasis is on intra-day momentum trading. Subscribers follow Desai and his moderators along into and out of trades as they post analysis and entries/exits. Scalping price fluctuations and trends is the name of the game with a concentration on smaller time frames suitable to intra-day ranging from 1-minute to 60-minute charts.
Members are encouraged to think through their trades and manage them with the skill sets learned from the training courses. There is a good number of members in the room so any trade alert can get an initial burst of activity just from the members jumping in. If the alert is solid, it will trigger the market to react in the anticipated direction, which is good for everyone. But, if the alert is not so good, it can backfire and trap many of the newbies. There’s two sides to every trade, so know which side you are on.
Example Swing Trading Analysis Video
I noticed that Desai likes to play classic types of technical breakout/breakdown patterns including variations of flags, triangles, and pennants. Most of the premises for trades are based on technical analysis to determine if a trade is viable, even though the momentum may be a result of news or some fundamental catalyst. BOWS tends to gravitate where the action is. This usually means stocks that are gapping up or down in reaction to news will be on our plate. This is particularly favorable for momentum traders like myself who thrive on action.
Day Trading Courses and Bootcamps
Piggy backing off other people’s trades will only get you so far. The market can sniff out the pretenders relatively quickly and flush them out, especially when day trading. This is why trading courses are offered so that members can learn to fend for themselves. The online courses range from the quick start introduction to trading program, pre-recorded trading courses and ultimately the 60-day Trading Bootcamp.
The bootcamp is an online group-training program that is scheduled in advance. Desai and other instructors perform the webinars live to keep the content fresh and updated. Registrants are given access 28 sessions; question and answering sessions, daily market recaps and access to a trading simulator to put the training into action. Mentors review the simulator trades and provide feedback on improvements and work with the students to reach their potential. Progress is measured through various quizzes. Overall, the bootcamp is a thorough comprehensive program that walks traders through the complete trading process. As with any endeavor, the commitment relies heavily on the student to make the effort to improve their skill sets. Early bird pricing discounts are available and BOWS will provide a free trader assessment to determine a growth plan for each individual.
Bulls Vision Chatroom
They call their chatroom service Bulls Vision. It provides access to Desai’s live cam feed along with various charts and indicators to illustrate his thoughts during market hours. The stocks range from low priced small-caps to expensive large-caps as long is there is momentum and price action. Members can post their own trades, comments and questions directly in the chatroom to interact with Desai and other traders. I like how the trade alerts are time stamped and detailed with the stock, action, price and size of the fills in the text portion of the chatroom. This lets those who just want to concentrate on Desai’s trades can simply follow the trade alerts and ignore the “noise”.
The chatroom platform lets Desai communicate his thoughts by video, audio and chatroom messages. Aside from the trading content, Desai provides much needed levity throughout the trading day with stories and conversations pertaining to the lifestyle that rewards a successful trader. The community of traders can provide a bounty of resourceful trade ideas, but it’s important to be careful piggybacking other people’s trades. Also, you never know what the motives are behind individual posters, so I stick with the actual trade alerts. You can also private message Desai and his staff if you have questions.
What Type of Trader is BOWS Best For?
A trader with a solid understanding of their methodology that can adopt the trade alerts and manage their risk consistently is the ideal experienced trader that can go right into the Bull Vision service. However, those who aren’t as seasoned or can distinguish between set-ups (aka newbies) should check out their trading course to get properly acclimated to the methods. A dedicated student of the markets with an open mind with at least $50,000 in risk capital is the ideal new trader. I fall somewhere in the middle and felt comfortable taking some of the alerts right away.
Thankfully this service doesn’t focus solely on small-caps or penny stocks, which are wrought with “pump-n-dump” price action. However, this means that more risk capital is needed for day traders that must meet the $25,000 PDT (Pattern Day Trader) rule requirement. Traders with smaller accounts can check out the swing trade service to build up the account first.
The swing trade service is more relaxed and issues two to five swing trade alerts each week. Paul Singh provides daily market analysis and insights through videos and emails. The suggested alerts provide concise entry and exit levels including potential target ranges and stop-loss levels. Subscribers are responsible for executing and managing the trades, as always. While BOWS doesn’t offer a trial membership, you can get a taste of Desai’s trading style by following him at https://stocktwits.com/kunal00 where he posts his ideas throughout the day.
Is the Service a Good Value?
I found the pricing for the day trading chatroom is a moderately priced considering all the ideas you get at $139/month for the reqular month-to-month. You can get prepaid discounts if you take the $299 for the quarterly or $799 for the annual pre-paid plan subscription, which cuts the monthly fee by half. The Swing Trade Alerts service is a bit on the more expensive side at $99/month or $199 and $599 for the quarterly and annual plans, respectively. The trading courses range from $197 for the quick start program to upwards of multiple thousands for the 60-Day Trader Bootcamp. Early bird discounts and occasional promotional deals are available. Overall, the service is a good value for those who are committed and well funded.
- Transparent trade alerts
- Comprehensive training programs
- Not an overload of products and services
- Over a decade in business proves it’s not a fly by night
- Interactive chatroom provides real-time ideas
- Pricing can be expensive for those needing the most training
- Lack of historical performance easily readible on site
- No trial period to test out the service
- Too many chatroom members posting ideas can be a distraction