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Experience at Live Trading Rooms

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Legendary Market Wizard
New Orleans, La (Mardi Gras City)
Trading Experience: Advanced
Platform: NinjaTrader
Broker/Data: Ninjatrader / Optimus Futures / AmpFutures
Favorite Futures: ES / 6E / 6B / CL
DavidHP's Avatar
Posts: 1,250 since Aug 2009
Thanks: 6,305 given, 2,083 received

I've been in many rooms at many different price levels.

Most are snake oil salesmen and front runners.

A few are worth the money if you are a newbie.

I'm currently in one at <edit by me to remove the URL>.

The cost is about $30 a month.
The guy has a live room ALL DAY with his charts and audio.
I'm not sure how he affords to do it.

He only trades the ES and 6E and is a pretty good technician. He uses what he calls Ambush trades and uses Fibs extensively.

One fault (imo) is that he uses Think or Swim charts. I never did like them.

He also gives daily video updates and tries to teach you to trade. Most of the people in the room are newbies and papertraders.

I've found that most trading rooms are more of a distraction than a help once you have settled on a method that works for you. The competition of posting your wins/losses and opinions is mostly hype (or lies) and usually creates unneeded pressure when trying to focus on trading.

For a newbie, the rooms give you an idea of how to trade (sometimes) but mostly they create a crutch. You become dependent upon the room or the mentor and can't break free to develop your own method and become successful.

I can post the URL if that is appropriate.
I would not want to advertise his site if that is not OK with futures.io (formerly BMT).

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