simon jousef's GTR trading room | Trading Reviews and Vendors


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simon jousef's GTR trading room

  #50 (permalink)

Elite Member
Atlanta, Georgia/USA
 
Futures Experience: Intermediate
Platform: Ninjatrader
Favorite Futures: Futures, Options
 
Posts: 19 since Aug 2013
Thanks: 43 given, 30 received


fminus View Post
There is nothing special about the price magnets. If you think that there is some magic inside bid and ask equaling the same, you my friend, have a long way on your trading journey.

The bid x ask is all relative to the time frame that you're looking at. A 50x50 could be inside a bigger 1000x1001. Which one is correct? The answer is both. If you play around with his magnet indicator, you'll notice that on higher time frames it will draw less "magnets" than if you were looking on a lower time frame.

Also, because of statistics and reversion to the mean, these lower time frame magnets will get reached simply due to the nature of the markets and the search for fair value. If you really want to find something that will be a magnet, use what everyone else is using (POC, VPOC, gaps, etc).

They offer you nothing that you can't figure out yourself for free with some hard work and experience.

I understand what you are saying, but they are making some good calls, somehow their system seems to work pretty well for them, even if I don't understand why their system works, which I agree with you, the price magnets don't make sense to me either. I was able to follow some of the trades today, but some calls are too fast to catch. I don't believe front running is really how they are succeeding, it would seem you need more than that to really move the markets, but I am not an expert on this. They are the most consistent trading room I have seen that uses market profile, I wish I could find a cheaper and more understandable alternative, have not found that yet. Maybe someone has a better suggestion?

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