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Experience at Live Trading Rooms

  #67 (permalink)

Cape Town, South Africa
Trading Experience: Advanced
Platform: ninjatrader, ensignsoftware
Broker/Data: ampfutures/Zen-Fire
Favorite Futures: 6E, Cl, TF
Posts: 120 since May 2010
Thanks: 15 given, 50 received

i do not see anything wrong with a mentor or a tradingroom, provided they have an edge that is recurrent and clear so that the students can test out the edge using sim or replaytrading. plus also, my mentor bill mcdowell says loss management is the key, as wins do not need any babysitting or management to become wins. i am currently having a dismal performance, which is mainly for my lack of focus.

what bigmike says i have heard b4 from estanblished traders. problem is, no begiinner is going to get consistency just doing a throw of coin or some method he has seen on a forum. i have yet to encounter some person who is consistently profitable with a couple of ema's and a coule of hh,hl. if they exist, i have maybe not been to enough forums. i know elitetrader, traderslaboratory. most of the consistently profitable traders on public forums do kept their threads or journals as informercials. if u want to dig deeper into their method, u have to pay for some system.

plus while futures.io (formerly BMT) is a gr8 place, i tend to think that due to countless journals, lack of focus crept in and usually does not mobilise the collective wisdom of the masses of retail traders. if we choose a single instrument like nq and standard anchor and entry chart, traders can share pure price action ideas that are actionable within the confines of what the parameters. unfortunately, i found people tend to think allowing space for every1 to post is the best thing. yes its conducive, but in the long run doesnt really take advantage of the little exxpertise that each little man. i think one of the greatness of AHG, anek's thread, has been to bring the little men toget, definite the parameters, and look for improvements from whatever contribution any1 can make. I tried to look for something similar on priceaction.net, but again, people run their threads and even the close room, doesnt have particular focus to a specific instrument.

Yes the beginning trader can learn from public forums. but there is simply too much out there, even in futures.io (formerly BMT), to shift thru and make sense. I thus appeal for some1 to start a specific thread, with one instrument, and defined anchor/entry charts so that we can share whatever we have learnt in tradingrooms.

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