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Trading Reviews and Vendors

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  #25 (permalink)

Membership Temporarily Revoked
Portugal, Viana do Castelo
Trading Experience: Intermediate
Platform: ninjatrader
Favorite Futures: 6e
Posts: 358 since Sep 2011
Thanks: 187 given, 344 received

This al began because off my last email send to CJ Booth:

´´Hello Charles,

After seeing your free preview of your course, I have followed your trading strategy and If I am honest, if I compare this with your trading plan from (formerly BMT) I think your are making a step back. From the stats that your are posting on the web I honestly don´t think your are trading this for example the trade of yesterday. You enter right on a news event and the move went only 9 ticks up retraced back and then makes a LH and you take 8 tick out of it, you can only make money if you let the market move and that is what you are not doing by taking 8 ticks and not waiting for the 16 ticks as you mentioned in the preview. Move the stop only to the next LH or HL!
I think that renko charts are king in displaying support and resistance levels but you cannot read price action from them. Sometimes you need time to see a trade developing and that is the major problem with using only renko charts in your trading strategy, I repeat, you cannot read price action from them.

If the market is trading like today all strategy's work but this only happens about 30% of time, the rest of the time they don't work and you will be given all off the gains or more back to the market.

Please don´t take the negative comment´s, if you can comment this like this, as an insulting.

I have worked on my strategy that I have emailed to you and have implemented the unirenko chart that you are using in your strategy for entry´s. I was struggling with my entry´s and stop losses and you helped me improving this last element.

I´am sending you a copy of my trading plan. It is al based on daily pivot point. If you can take some time and open a 6e chart and put pivot points on it you can see that the market respects this levels. You can not trade them blindly but almost always there is a setup at pivot points with confirmation of a divergence sometimes this divergence is confirmed at different time frames this are the most powerful signals in the market.

I´am interested in running a trading room in the near future. By this I mean a trading room where the attendees can see what I´am doing and trading at the chart trader in front of them not like in all other rooms that I have seen where they trade at the back ground and only are showing the trades when they have moved there stoploss to breakeven and hide all other losers ore they mention a trade and then when it moves against them the say that they have not taken the trade because off blablabla...
I´am looking for someone that can work with me, running the trade room, and I think you have the scales and knowledge. I think that we all need a trading partner just too see the failures off the partner and vice versa. It is always difficult to see our one mistakes.
If your are interested in this let me know.

Best regards,
Joao Soares

P:S: take a look at my trading strategy, don´t look at the first part that is personal blabla and comment it.´´

And the response was this from CJ Booth:

´´If you knew my trading method instead of trying to get something for free you would know why I take profits where I do. This strategy is strictly rule based on entries and targets.

I am aware that you contacted a trader that knows my method in an attempt to get my method for free, let this be a warning, also you have done this after telling me that you cant trade because you are busy remodeling your house. Someone that may be dishonest really has no business ripping a trading method you do not know enough about.

The setup you refer to on the news was a price action setup. I take the trades, I did not answer your question yesterday because you are not a student of mine – had you been I would have and you would have known why the trade was taken and why you would only take 8 ticks.

I am not interested in your trading plan but I will wish you luck in your trading. Head the warning concerning your attempts to get my method for free, you & the person if any that discloses this method without being a student can find yourself in a situation you do not want to be in.´´

An email with 2 warnings, WOW!!!

I guess the other trader that he mentioned is abrito900 the guy that logged in on (formerly BMT) from the same computer.

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