The Day Trading Academy Marcello Arrambide (www.thedaytradingacademy.com) | Trading Reviews and Vendors


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The Day Trading Academy Marcello Arrambide (www.thedaytradingacademy.com)

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Banned: Rude behavior, working against community
san diego
 
Futures Experience: Intermediate
Platform: Ninja
Favorite Futures: ES
 
welly192's Avatar
 
Posts: 741 since Mar 2012
Thanks: 359 given, 4,657 received

My experience with the Day Trading Academy

I first joined DTA in August of 2012 after being laid off. I have been studying the markets part-time for the previous 5 years and thought I had a good grasp of things- but that was all sim and not real-time in the markets.

I had previously been trying to master PATSmethod and not getting anywhere so I joined DTA in desperation. I joined DTA and thought Marcello was really good - I was impressed - daily mails with questions and charts were answered quickly. I thought I was getting awesome support.
The course itself was good- I thought the assignments were also a good way to review the material.

The highlights of the course for me were: Momentum and HTS. HTS being a non-subjective method to approach the markets. This is where things started to break down.

HTS provided a method to consistently take trades and really helped me deal with the emotional side of trading. Yep, you take the trade and get run over but you do it over and over and you will eventually see a slight edge. This was a valuable experience for me and one preached by the pro members of being consistent with your trades. Huge positive lesson for me. The negative is that the rules for HTS kept changing once moving to the advanced level- The rules were suddenly changing from being a valid HTS trade to a 'pro trade'. Once the pro trade was introduced your winners turn to losers and losers are still losers... for me anyway argh.

I recommended DTA to a good friend - He joined and unfortunately did not have the same experience I did. The daily response to e-mails turned to once a week and at this time I was booted out of the training because I did not want to pay additional monthly fees. Had I known about these monthly fees initially I probably never would have joined- I asked before signing and was told not to worry about it and it would likely be a long ways off (years). Anyway, I wanted to help my friend but could not because I was not in the class to view what was being said. This is my biggest regret about DTA- recommending it to a friend.

I really bought into the concept Marcello was pushing about wanting to develop an army of like minded traders to exchange and test ideas. Unfortunately this idea was pitched before the realization that it would be a constant fee coming from my wallet each month to Marcello.

I know this probably sounds negative - That is not my intent. A good friend of mine is a hedge fund manager- We meet regularly and he tests me. He indicated that he saw a big improvement in my trading after the DTA course. In our tests he would question what I was looking at to make my decisions. He made me realize I was not looking (or needing) anything on the bottom of the chart ( DTA indicators). I was using Momentum and the risk reward of HTS.

Today I have reached a level of consistency that many dream of. My friend the hedge fund manager is truly amazed. The bad news is the consistency came after abandoning DTA and re-applying myself to PATS and adding Jigsaw. However - The momentum and psych lessons of HTS were valuable and something I use today. If nothing else Momentum will keep you from counter trend trading and that is where many people lose their shirts. So that may be worth the price of admission for you.

Here are the strengths of the course in my opinion:
Good for basic intro to the Emini- SP futures market
Good Basic Ninja features
Momentum
Psych in HTS and the pro trade trainers. Actually in hind sight the relationships made with some of the pro trainers was worth the price for me.

Weaknesses:
Support and resistance - You only get half the picture
All the indicators provided are useless imho BB/macd/fyl they are all lagging indicators - like driving a car using your rear view mirror. Everything you need is in price.
Marcello is resistant to change and to new ideas.
No Real posted P&L
I told Marcello I could improve HTS by over 60% and he had no interest. I showed him a tool that I used that actually helps with HTS and he laughed.
So for folks struggling with DTA here is my suggestion that you can put to the test to improve immediately:

Visit Day Trading ? Price Action & Futures Day Trading Software From Jigsaw Trading go to the bottom and read the book How to survive day trading.
It is one of the best realistic views on the market and the industry I have seen. If you want to use DTA I believe by applying this product you can improve your edge greatly. I have no financial interest in this product btw. Try it for 2 weeks if it doesn't work for you no cost. The owner Peter is
very helpful.

FYI My equity curve is posted here it has since doubled:
The Best Part | Jigsaw Trading
but a few stupid mistakes and it can all go away...

Trading is a fickle business Each day I go in risking capital- I still make mistakes. I know my method works and some days my execution just plain sucks. The big difference for me now is that when I make a mistake I realize it and at the end of the day (knock on wood) end up positive.

Bottom line- Everything you need to be a successful trader is here on Big Mikes and time in the market.

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