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simon jousef's GTR trading room

  #19 (permalink)

Elite Member
Prague, Czech republic
 
Futures Experience: Beginner
Platform: NinjaTrader/ZF
Favorite Futures: ES, TF
 
Posts: 79 since Jul 2010
Thanks: 50 given, 34 received

Hi,

my two cents ... I was in the room for about 6 months 2 years ago.

Cons:
  • Inconsistency of thought (one could call it lack of objectivity) - you're told in all videos and promos that everything is explained to detail and clearly. Then, lo and behold, sometimes the same thing is a short, sometimes its a long. Trading isnt easy to explain and the conditions are always different, but then why say that all presented trading rules are clear.
  • Too much risk (this is subjective to what trades I seek) - trades are done in multiples of 3 contracts with the same stop (e.g. 6 ticks), with targets being 5 ticks on two contracts and the last is left as a runner. As soon as the smaller targets are reached, the room operator will have made enough money for a "risk-free" trade where he goes for bigger profits. My problems with this is that the first two contracts have risk:reward < 1 which goes against all I feel is right.
  • Occasionally, "less solid" ideas are being presented as something that really works. If the room operators knew that network packets can be lost/arrive in different order that they were sent in, they would see that relying on EXACTLY X contracts being bought/sold on a price, but not X-1 or X+1 contracts, is an illusion of having a real rule.

Pros:
  • Students can ask questions. The answer will be understandable depending on the similarity of the student's and room operator's thinking (that was my problem), but Simon is very helpful and willing to discuss.
  • Trading is done with REAL money and all students see it. You see all the charts, orders, etc. in real time. No editing, no delayed charts, etc.
  • Access to educational videos as given for a lifetime, including updates.
  • The trading day, in the vast majority of cases, ends with a profit in the hundreds.

Overall, I have learned much from this room, e.g. seeing that
  • trading can be done
  • you dont have to be a rocket scientist with a PhD from maths to succeed
  • how people use the tape and market profile
  • "trading habits" of people who do this for a living
  • and many more, that I cannot verbalize.

Cheers,
Daniel

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