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


Experience at Live Trading Rooms

  #199 (permalink)

Austin, TX
Trading Experience: Advanced
Platform: TradeStation
Favorite Futures: Futures
Posts: 882 since Mar 2011
Thanks: 128 given, 714 received

sparky View Post
I guarantee you there is one such room. As a satisfied customer only, I will tell you about this magical room. Each and every day minutes before the market opens, Gary marks his oil charts with simple trend lines and swing levels. While they follow 6 markets, Gary specializes in oil and TF. He tells you IN ADVANCE where he will enter a trade if a swing or a trend line is violated. He announces his profit goal for the trade in advance. His goal is usually the next swing level. At that level you are warned in advance to take a quick profit or tighten your stop. He warns you if a probe trade is setting up, he calls that out in advance with enough time for you to participate if you so choose. If the markets are in chop mode, that is announced as it develops. A big "refrigerator"' box is drawn around the chop zone as it forms. No trades are called in the chop zone, and breakout levels from the chop are also called in advance. Swing levels are called, again in advance, as a place to either take profits, enter trades, or tighten stops. Pull back levels before possible trend resumption are called in advance. If you miss the initial entries, pull backs for either entry or adding to positions are called as they are happening.

The 3 moderators call trades in currencies as they are setting up. They warn you when to stay out of trades because the major move has already occurred. As news events are happening, they tell you as they are occurring whether to be ready to go long or short. Trades after news events take place 3 to 5 minutes after news release, and they RARELY miss the call on the general trend forming. The custom indicators they use clearly show trend forming or continuing. The indicators show trailing stop levels and they teach you when to use them, when to recognize when to get out earlier than stop dots or even when to hold past the stops for yellow bar probe trade setups They announce where they are taking trades, not after the trade starts, with plenty of lead time if you care to participate in the trade.Trailing stops are announced as they are occurring. Oil inventory days usually stir up prices one way or another. They announce as it is happening what possible entry points (levels, not exact prices) to watch for. I have seen way too many 100 - 200 tic trades that they have called the last few months of volatility to doubt their methods. The system of using range bars coupled with breakout trades and probe trades seems to work well.

The same is true before major reports that affect the equity market. While advising you to not initiate a new trade 10-15 minutes before the report, and tightening up your stop on any profitable trades you are in, they watch the price action as the range bars are "shotgunned" across your chart as the news is released. Their indicators, which are very simple to follow, indicate the proper direction to trade. This is announced as it is occuring, and new positions are taken 3-5 minutes after the news release. Quite often as the monster trends we have experienced the last few months develope, all of us in the room are nicely positioned to grab a large part of the 100-150 tic moves that frequently occur after major reports. Trailing stops are upgraded as the trade develops. The moderators show their live chart trader charts showing entries at or close to the levels announced before the trade.

Again, as I said in my last post, I am just a satisfied customer. Viper Trading Systems call trades in advance, take trades as they occur, manage the trade as it occurs, announce winners and losers as they occur without the bull I have heard in other rooms. Having 3 experienced moderators prevents the monotony of a one moderator room. At the end of the 2 hour trading session they do a recap of the trades they took. Why would they put up a doctored up phony chart trader every day showing large profits when day after day after day the system is profitable----- They do not say "Oh well I coulda, shoulda woulda taken a trade in hindsight.The trades are announced in advance with enough lead time for me to get in the trade if I so desire.

There is at least one good room that goes against your blanket indictment I quoted. If you want to be amazed, visit their room. As Bill O'Reilly says, "You are now entering the no spin zone." Many many times after the first 1/2 hour and we hit our daily goals, we are advised - "Nicely green, turn off your machine."

God Bless

So what exactly is the operable motivation for them to operate this room?

"A dumb man never learns. A smart man learns from his own failure and success. But a wise man learns from the failure and success of others."
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