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www.leadingedgetrading.com trading review

  #80 (permalink)

Minneapolis, Minnesota
 
 
Posts: 15 since Jul 2013

booker777,
I will do my best to explain the pluses and minuses of trading on this site - there are both. My enthusiasm has brought my neutrality into question so I thank you for asking, I came back to see if there were any questions and I might not have come back after today if I hadn't seen yours.

It took me a long time to figure out how best to respond to HT's posts (only text). Being analytical made things tougher for me than needed be. My breakthrough came when I decided to take a bird's eye view instead of trying to analyze the posts at a deeper level.

Depending on your definition of trade setups - that is a word that would that would bring a lecture on - because by HT's definition he doesn't do that. He gives numbers in advance so we don't wait for things to "set up". That being said, the number of entries vary day by day, and by experience level. For example, yesterday (June 4) I had 8 entries, usually there are more than that but the market went sideways for much of the afternoon. More advanced traders would have done more - I just stick to explicit posts, at least for now. Yesterday's posts were easy to follow and the most a trade went against me yesterday was 3 ticks, but there are other days where we have many "take offs" - I typically lose 5 ticks or so a piece on those. Not sure how much you want to know, but HT often offers several potential entry points on the way to a target - these are typically a "most aggressive entry", an "aggressive entry" and a "conservative entry". I almost always start with the "most aggressive" and if I take that one off then I take the "aggressive entry" and if I take that off then I go with the "conservative entry". Typically "most aggressive" is the one that gets me to the target posted, but if not it results in a take off. The worst case would be two take offs for a given target. Not sure if that answered your question so if not just let me know and I will see if I can do better next time. Once you know how to get in sync with the posts (however long that may take) you should be green every day, but some people are red often until they get to that point.

I am not sure what you mean by trade management, so I will answer what I think you might be asking. We are not supposed to have tight stops. HT recommends having a stop 3 or more points out - he calls that a "catastrophic stop" and says it should be hit at most once or twice a year. I haven't seen a catastrophic stop hit yet but I haven't been in the room that long yet. He says if you can click a mouse to get in a trade you can click to get out - he wants you to exit on your own, not be forced by a stop. That being said, he wants you to only risk a point or so on a trade, an absolute max of two points (I never would risk that much personally, I vary from 4-6 ticks depending on market conditions). If that is not what you were asking again, please let me know. My only goal here in the first place was to try to help people not take as long as it took me to figure things out.

As for bad rep, I can see why people get upset with strongly worded responses - I have had my share as well. For some time I thought I must not be wording my questions well, it seemed like if my question could be taken wrong it would be. My breakthrough came as I mentioned before when I took a bird's eye view of what the posts were saying, and not trying to read so much into them. The posts did seem vague at first but they seldom seem vague to me now, again that came from taking a higher view. One thing I had to realize was is that he is talking to a wide variety of experience in the room, and some posts apply to people more experienced than me. He often uses phrases like "could be" and "possible" - I almost don't "see" those anymore, they show up often. I respond based on posted numbers and his explanations of market conditions. However, if you are new to the room I can see why it looks like hedging. After a bit you will scarcely notice them.

I don't know what the NFA is, I assume it serves some watchdog purpose. As for getting large number of points per day, that is true with this caveat: if you are trading a single lot (and that is all you should trade once you are ready to begin trading real money in this room) there are those days when you have a larger number of take offs. On many of the winning trades in this room there are multiple targets that allow you to get those large number of points. However, with a single lot you run out of bullets at the first target and you are done until a new entry becomes available. Meanwhile, those trading more lots are adding points as long as the subsequent targets are hit (they aren't always). So if you had two take offs and the hit the first target, you could still be red while others would be green. Trading a single lot is by far the most challenging amount to trade in this room, but it is where you need to start.

There are plenty of people who would consider him rude. For some reason (except on one occasion) it does not bother me. I know it is not personal, he doesn't even know me - I just want to win and I can do that here. Hopefully I addressed the vagueness issue above, if not just hit me up again.

I am not sure what you meant about participating on this board, but if you were wondering why I posted here it was because when I came here looking for help I mostly saw many complaints and people either saying they suspected it was bad or other people saying they were going take the plunge and would let us know but I didn't see that anyone did. I remember a guy named Famed saying he put big money down to get the actual teaching (I haven't done that yet, so I can react to the posts but I don't know how they are generated) - Famed was the only one I recall offhand that gave me much hope. So I finally came back after many months to be the guy that actually could share something, not realizing the response I would get. Unless there are more questions or I thought there was a way I could make a meaningful difference I likely will not be in here much, if at all. futures.io (formerly BMT) appears to be very well thought out and I imagine it helps a great many people, but whether or not what I have to offer is valued I cannot tell. Anyway, I will check back at some point to see if you have any further questions. The best way to see if HT can post accurate numbers in advance is to take the two week free trial - if he posts accurate numbers in advance then you might consider doing more, if he doesn't then you can post something at futures.io (formerly BMT) indicating that. Either way, if you post your observations it might help others who have questions. Sorry for such a lengthy post, that probably isn't appropriate. I hope this helped.


Last edited by Arby; June 5th, 2014 at 06:24 PM. Reason: mispelled a word: wrote "being" instead of "begin"
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