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Is School of Trade legitimate? (

  #13 (permalink)

Salt Lake City, UT
Trading Experience: Intermediate
Platform: NinjaTrader
Broker/Data: NinjaTrader Brokerage
Favorite Futures: ES, 6E
Aragorn's Avatar
Posts: 275 since Aug 2010
Thanks: 195 given, 304 received

After watching and listening to JJ for some time it is clear that something is not quite right. I watched him trade the ES one day as he was trying to make 4 ticks. He was in the trade for several minutes. When the Market finally reached his target it filled his target on the first touch. All sorts of red lights went off when I saw that. There is no way an order is going to be filled on the first touch- not on the ES. While the Market does not have to go through an order to be filled it does have to trade at it for some time in order to get filled if it doesn't go through it.
I found his daily recaps suspect as well. What he says he is doing and what the Market did and the way he demonstrates it on his charts are inconsistent. He says that, "the Market puts in a swing low and then we wait for it to break below that low." Where he says he got in is inconsistent with what he just said. His order is not below the low but on the bounce off of it. He gets in before it breaks below the low. The problem is people are waiting for the Market to trade below the low to get in. When JJ says he got in, people hear that and try to get in also. Where they get in is a tick or two above the low. It trades one tick below the low and then bounces back up. JJ made his money and counts it as a winning trade while others lost money and are left wondering what happened and what they did wrong. The fact is, JJ didn't do what he said he was doing. He said he was waiting for it to break below the low and then got in before it breaks the low. If people managed to get in on that one tick below the low they lost as well. But JJ counts it as a winning trade. Later when it actually does break the low during the Daily Recap JJ glosses over the whole interplay of the bounces that the Market takes. With his marker draws the low and repeats the same verbiage, "the Market puts in a swing low and then we wait for it to break below that low" as he draws where the Market actually does break below the low insinuating that's what he did and where he took the trade- which it is not. A person would never know what actually happened unless they could compare what happened in the room and at what point he actually took the trade and then compared that with what he says on his Daily Recap. What he says he did (wait for it to break...) and what he actually did (got in on the bounce off the low) are very inconsistent and suspect.

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