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Trading the Jam way

  #83 (permalink)

Chicago, IL
Trading Experience: Master
Platform: NT,TS,TT,CQG,Bloomberg,Telerate
Favorite Futures: GU,CL,EC,BP,US,TY,Forex
skilo's Avatar
Posts: 10 since Apr 2010
Thanks: 4 given, 5 received

Signal Trading

JS12 View Post
This guy's stuff is horrible. He's got way too many things going on at once. He sells all kinds of different software, and then has another course teaching you how to trade manually. So he's got like 3 or 4 methods going at once. The whole thing is way too confusing to make money.

The basic rule that all the methods have in common is to trade breakouts. That's it! There's not much more to it then that. Then he keeps telling you to trade them until you make money. So in other words, you can lose 4 or 5 in a row and you will still be trading them. It's a joke.

Unless you have a really large account that can withstand HUGE drawdowns, forget it. And even then, I still don't know that you would be ahead. If you run into a bad streak, you are done. Anything you buy from him is a waste of money in my opinion. Nobody in the room is making money consistently. If he tells you they are, ask to see their account statement for the past 6 months.

Please SAVE your money!

I don't post much on this site, but had to on this one. To say the stuff is horrible is one trader's opinion. Maybe he/she couldn't grasp what was being taught. I am a discretionary trader and always have been. I never shut out what can be learned because trading is a forever learning game. What works today may not work tomorrow. I know this from experience being a floor trader and trading electronically. You either learn to change with the markets or you just fade away and die.
That being said I was in JAM's room a couple of years ago and learned what he was teaching. I never looked at Elliot wave or studied Fibonacci in depth. I learned a few trading techniques he used using range bars that he introduced and I went and did my own research and backrtesting. I adopted a couple of methods he showed and added my own method of what I know from my own experience. Is it perfect? Heck no. Do I have losing trades? You better belive it. Do I have a few losing days in a month? Damn right. And some of those days it's because I was not mentally ready for the day.
He is honest and up front about not everyone will make it in trading and that his room is not for everyone. He stress no blown out accounts and trys to help the room with psychology which in my opinion is 3/4 the battle of trading. To say Nobody in the room is making any money would make you omniscient. If people are willing to share they will tell you. You can openly ask anyone in the room and you will get an honest response. I was getting bombarded with private messages in the beginning because I use to post my charts of my entries and then post my exits. I was getting overwhelmed by the private messages that I couldn't concentrate on my trading and I told JAM I had to leave because of distractions. I still go in the room from time to time and say hi. He has automated his strategy and from talking to those who have been with him for a year or more say they love it and are doing well.
Well I think I have said enough. It is up to the individual trader to take something they learn from whatever room/source/course they learn from and make it their own. No two traders will trade the same chart excatly the same.

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