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Anyone familiar with power-emini-trading?

  #9 (permalink)

Trading Apprentice
Trading Experience: Intermediate
Platform: TradeStation
Favorite Futures: forex
Posts: 16 since Jul 2010
Thanks: 0 given, 1 received

sunpost View Post
No problem. In the past, they charged 1/2 price for the first month, so hopefully you can profit at least that much to see if it works for you to continue with them. please report back if you try them.

So, I decided a few weeks ago to sign up after watching the "free" Thursday ustream demonstrations. During the free shows, Jeffrey stated they use a 2 point "protective" stop but that once they go into profit by 3 ticks, they move their SL to BE. He also stated that they typically use a 3 tick stop and never let the 2 point stop get hit.

I honestly feel that the "free" presentations on what you get in the room is quite misleading. First, after I joined I had an hour intro training session with Jeffrey. I noticed some changes mentioned such as not moving the stop after 3 ticks profit but instead "analyzing" the trade and using your discretion. He said that if you move it once you're up 3 ticks to BE, you may get stopped out often and miss the move so just "watch" things once you're in profit. This is fine and what I do when trading forex but the fact is that during those free shows it was constantly stated that they quickly move the stop to BE once they are 3 ticks in profit and obviously this is misleading b/c that's not how it's done in the room... at least it wasn't during my short time in there.

As for my first day in the room, I noticed that the head trader was not using audio. He used text when giving a call and there were times when both entries and exits were ambiguous. There were times when you didn't know if he was still in a trade or not. I recall one trade that went several points against him and it was assumed that he was stopped out. Shortly after, price reversed giving 1 point profit and he sent a message stating to "take profit accordingly." I asked how can he still be in seeing how the trade went over 2 points against him (remember 2 points is only a protective stop and they never let it get hit) and his reply was that he had got back in yet he never informed the room of that. That day I believe there were 7 trades given. 6 were losers. There was a clear downtrend and he kept taking longs. At one point a guy in the room even said something about the counter trend trades. The first trade did give a couple of points from entry to the end (if you had held from start to the end before price reversed) but there was never an exit called... only "take profit accordingly" when it was up 1 point. I was quite surprised to see them post +2 points for that day in their results when it was clearly a negative day.

The next day... same thing. No real audio commentary which I was told was given prior to signing up. The calls were still vague or late. I sent an email to Jeffrey staring that everything described prior to joining was not what was being given and I requested a refund. To their credit, I did receive a refund. I was told that the head trader had broke his foot and was in a lot of pain and that was the reason for things being out of sorts in the room. Jeffrey said he would take over for a few days. I don't know what happened from there. I noticed they took the results for the two days that I was in the room out of the stats page. Right before I joined the stats were updated daily and I notice that it hasn't been that way from the time I joined and canceled.

Anyway, just wanted to give my feedback.

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