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simon jousef's GTR trading room

  #43 (permalink)

Elite Member
London
 
Futures Experience: Advanced
Platform: cqg integrated,ninjatrade
Favorite Futures: Futures and forex
 
Posts: 31 since Apr 2015
Thanks: 6 given, 32 received


fminus View Post
I'll chime in with my experience. I joined their room sometime in early Jan 2014 out of a desperate hail-mary attempt to find a profitable "edge" after years of hemorrhaging my trading account.

Pros:
- Lots of lots of videos and materials
- Can ask questions during the trading hours and they get answered quickly
- Good introduction to volume profile and how someone can possibly use it
- You can get an idea of how trade management works in real-time without trying to conceptualize from a book

Cons:
- Very ambiguous trade rules. Sometimes trades are taken at the edge of a smaller timeframe profile, sometimes a larger one.
- Ambiguous targets. Basically holding runner until you can't take it anymore and give in to the desire to take profit.
- Conflicting calls in the room because of different trading styles. You have a 5 tick scalper (Bob) and then those going for Swings (Simon) and Sandy doing both. Everyone is yelling into the mic at the same time mind you.
- Cost.
- They get people on only risking a couple of ticks, but that's a couple of ticks on 3 contracts, then they use 2 contracts to pay for the risk of the last contract and try to get a free ride. Not everyone can trade 3 contracts of CL.
- Knife-catcher. Simon is a counter-trend trader. When he catches a swing it's nice, but you will get stopped out more often than when you catch a good swing. So you need to have a well padded account and enough contracts to have a decent runner to make up for the stop outs.


Overall: I stopped going to the room after a couple of months because I realize it was distracting, confusing, and not really getting anything out of it. Don't make the same mistake I did. Save your 10k or however much it is now and fund yourself well when you gain some confidence to trade well.

The reality is that no one is going to "teach" you some magic formula you can repeat over and over again on how to trade profitably. Just like Lebron can teach you his moves, but it won't make you Lebron, nor will you probably play like him. So stop trying to be Lebron and go find yourself.

Just think about it for a minute. Do you really think you can somehow be profitable doing what everyone else is doing? The answer to profitable trading lies somewhere within that very question.

You're welcome, I just saved you 10k.

Totally agree with every word from Fminus, Ill also add from my experience.

I have years of experience with limited success with trading so I sat in for a few trial sessions with the GTR, unfortunately I got suckered in to a membership at a cost of $8000 in installments.

They offer you different pay plans to suit, which can be tempting, but I soon realized it was not as it seems.
They add up their tick count combine between the 3 of the guys that take the room so it sounds appealing.

The days I sat in on the trial I did see some success but soon realized when I joined up that its impossible to get any where near the amounts they were totaling.

Simon's trade calls are hard to follow because he calls them as he's pulling the trigger and they are all counter trend trades. I followed the trade calls many times but i never got the positive results that they said they the were getting but the complete opposite.

Same as Fminus, I stopped going to the room after 3/4 months as I realized it was not working for me.
Anyone with some experience with Analysis can get the direction of the markets right, but its the Trade management, staying in trades and not over trading is the hard bit, something that takes years to develop.


Last edited by Fxfutures1976; July 16th, 2015 at 02:29 PM.
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