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Trading Reviews and Vendors

Discuss and review vendors of commercial trading products, trading rooms and services, trading indicators or third-party paid add-ons



  #13 (permalink)

Elite, not Elitist :)
San Diego
Trading Experience: Beginner
Platform: NinjaTrader
Broker/Data: AMP / CQG
Favorite Futures: CL, ES, NQ
BeachTrader's Avatar
Posts: 339 since Nov 2011
Thanks: 153 given, 404 received

jeffmum View Post
I promised myself I would not spend any more money on this kind of stuff. But, I guess I got caught up into it. I took Rob Mitchell up on his trial in his room for $99.00 two weeks. Thank god it was only $99.00. It was a complete waste of time and money.

First of all, the whole premise of his room is to sell his very over priced indicators. He states in his free webinars that you don't need to purchase his indicators in order to be successful as he displays his charts in his room for you to see. Yes, he does display his charts. But, he doesn't explain how to use them. There is a constant pressure to buy his indicators.

The third day of the trial, somebody who claims to have earned 200 ticks that day, posted his email address in the chat room stating that if anyone was having difficulty in learning the system, to email him and he will kindly help. I emailed this individual for help and the first thing he asked me is if I owned Rob's indicators. He then stated that in order to be successful, one must purchase the indicators. That was the extent of the help he would give.

I emailed Rob during the trial and stated I wasn't understanding his entry's and his methods. The only thing he would state was that "you need to be in the room and listen to my lectures". In the room, I witnessed on two occasions someone asking for help in understanding his setups and methods and Rob replied, "You need to read my blog posts in order to understand".

So I was in his room for the first week and gained absolutely nothing. He has some fancy indicators alright.

I guess I should have really known better when I read on his website where he states, "At the time I was one of the biggest e-mini traders in the world, trading as many as 1,500 contracts at a time.".

Lesson for me learned. Each to his own. I am just relaying my experience. Other posters on this board will privately share the same type of dismal experience with Rob Mitchell's, OilTradingRoom.com

I had a similar experience almost. I signed up for his $99 trial. The first two weeks were good. Rob actually explained his setups. The dude who said he made all that money (the one you referred to above also known as Mr. Kachingkaching) was on vacation so I didn't know about him yet. There was another guy in the room who was very helpful - posting his trade setups and calling trades. I learned a lot from him. Then the trial ended and I decided to let it ride for a month. Mr. Kachingkaching came back from vacation and posted all these claims about how much money he made (like $300K plus in a few months). Sometimes he would post his entries (only if they were in the money) but could not explain why he took them. Rob tried to explain them for him. Worse, Rob spent at least 20 minutes a day talking about this guy and this dude's ferrari's and rich lifestyle etc. and did not spend as much time talking about trading as he used to. Then the one individual who was really helpful left the room. It got so bad I had to turn off the sound and only watch his charts as I wasn't going to spend money on buying indicators. Anyway, it started out promising and ended with a thud. Needless to say I am no longer in the room.

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