The Lincoln List Review
The Lincoln List is owned an operated by Doug Rumer, a 15 year veteran day trader. The site offers both a day trading chat room and trading courses coined “Champ Camp”. Doug utilizes a trading strategy that focuses primarily on top and bottom reversals, and claims to have not had a losing month since 2005. Although we were unable to find verification for the claim, students in his chat room support that fact that Doug has terrific accuracy and continually posts weekly gains. Today we will discuss the Trading Strategies taught at The Lincoln List and review the value offerings for beginner to advanced traders.
The Lincoln List Review: Marketing Strategies
In stark contrast to some of the other trading websites we’ve reviewed, namely Timothy Sykes and Fous Alerts, Doug Rumer markets his services in a very professional way. He doesn’t utilize the girls in bikinis or the sports cars. Instead he caters to a different type of trader, one looking for consistent returns using simple strategies. Doug’s marketing strategies are a good reflection of his strategies. He’s not trading the supernova penny stocks that go from $2-20 in 1 day, instead he’s trading predictable reversal patterns on typically higher priced stocks. Although his strategies are quite different from Fous Alerts or the Bulls on Wall Street, he does seem to have an affiliation or at least a friendship with both businesses, as he has several links on his site back to the same prop firm used by all three trading websites.
Doug is fairly active on social media, although he has a much smaller following than many of the rooms we’ve reviewed, with only 6k Twitter followers. He is also very active on StockTwits.
Lincoln List Trading Strategies
The Lincoln List is focused primarily on counter trend trading. That means he buys weak stocks looking for a bounce, and short strong stocks looking for a drop. This is an extremely popular strategy because reversals are pretty easy for beginner traders to understand. Doug is very clear about discussing the trades he’s looking at and articulating the reasons why the setups are strong. He actively uses Trade-Ideas for stock scanning, using High RSI and Low RSI as his primary filters. Using this strategy, he looks for extremely high or extremely low RSI. In this way, if he sees an RSI of 99 (1-100 scale), it’s almost guaranteed he will take a short position, if he sees an RSI of 1-2 (1-200 scale), he’s usually going to start buying. The one drawback to this strategy is that you typically have to scale into positions. This means taking a starter position and expecting that you may need to add more to improve your cost basis because you are at a loss. This can be dangerous for new traders who get into the habit of holding and hoping. I’ve seen Doug on more than one occasion end up holding a strong stock he shorted too early and was red on. This can be a recipe for a disaster for a beginner trader with a small account, but Doug is good at explaining why he’s holding through a squeeze or a drop, and more often than not, he does finish green on the name.
Lincoln List Final Thoughts
Any beginner trader interested in counter trend trading should definitely check out The Lincoln List. Although I didn’t take his “Champ Camp” trading course, it was spoken highly of by several traders in his chat room. One of the things I really like about The Lincoln List is that it doesn’t feel like Doug is trying to be another Timothy Sykes. He’s running a smaller business and he seems very content with that. This means instead of spending his time marketing, he spends his time working with traders in the room and actively engaging with the trading community. As a fellow trader, I really appreciate this mentality. I understand this is a business for many people, but new traders need educational content, and Doug provides it.
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