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Trading Reviews and Vendors

Discuss and review vendors of commercial trading products, trading rooms and services, trading indicators or third-party paid add-ons


Earn While You Learn Trading Rooms

  #4 (permalink)

Fortitudo et Honor
Austin, TX
Trading Experience: Advanced
Platform: TradeStation
Favorite Futures: Futures
Posts: 882 since Mar 2011
Thanks: 128 given, 710 received

rpm123 View Post
No recommendation but advice. Only start ones with a free trial, only trust ones that show their DOM all the time on the screen, and only trade sim during your trial. If you can't follow on sim, you are probably not going to be able to follow paying real money (not your fault, thiers). I have learned more from these BigMike threads, journaling, a few books, and sim trading on my own, than from rooms.

I completely agree. I'm still a lifetime member of a trading room. The moderator/leader actually insisted that I sim for an extended length of time, while I learn his calls, the overall strategy, etc.

Additionally, he usually puts limits on how many contracts you can trade. Essentially, you work your way up. In the end, I stopped trading with them because the room was over Skype and I could not see his setups (although they did indeed work). I didn't like the idea that if he got hit by a bus, I'd be left with a giant ?.

It wasn't necessarily that he was secretive, but I wasn't on Ninja, so I didn't have 6 second charting and he was running setups based off the 6 second and 2-5 minute to get trend with RSI and DOM strength indicators.

MANY of his trades were absolutely beautiful. But he was scalping 2-3 ticks/day and at the time, I couldn't live off that (and I couldn't have a day job at the same time because you HAD to be on the call at open till about 11:00 Central).

There are successful groups out there, you just have to find them. The fee for the group was very reasonable. I don't even think he made much money off the fees at all, as our group was rarely more than 15 people.

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