I wonder if there's any other June 2020 intensive participants out there who maybe interested in forming an accountability group to make sure we keep going in the right direction?
If so any idea is welcome in regards to how/where/when it's run.
i spent 5 years under his educational thumb . the wright direction is learning how to trade that knowledge . the huge hole in the education you just got is trade I.D. and trade management . Jim swing trades options. that is why you did not see any dome up during the live sessions . back testing is also a problem using his concepts . how are you going to back test the retest of a late afternoon spike in the profile or brake out failure of balance .
Where did I say anything regarding DOM or backtesting?
Like I said in my post I just went through the most recent intensive and trying to find fellow traders to see if there's any interest in accountability group.
I will be taking the an intensive and would be glad to join a Trading Group. I’ve heard it is a ton of information and I’ve taken the primer and was pleased with what I did see. Let me know if you are interested ...
I have taken one of his courses years ago. The course is extremely interesting but also very far from real trading.
Basically 99% of the times he says "this is not serious money selling/buying".
I apply some of his concepts but I have my own way of trading them, I don't think it's possible to trade purely on market profile nowadays.
Besides does he actually trade? Has he ever traded in the last 20 years?
Yes Jim does trade. He has a really interesting way of entangling options and futures trades and hedging. He explains that during the intensive.
His courses are about market understanding, not about setups per se.
And market profile is by far the best tool to show the underlying 2way auction proces.
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Not sure if you are sarcastic or not, but I'll reply anyway.
Of course not. I am not even sure if he is profitable in his way of trading. I know many people who benefited from learning from him.
If after watching his public webinars you are interested in his way of viewing the markets - then I would definately recommend participating in the intensives or purchasing the e-courses. If not, by all means, look for something else. There are more ways than one to skin a cat.
Hi Miguel, no I am not sarcastic at all. I am not saying that he does not trade I am simply saying that we have no proof that he still trades.
This for me does not mean that his teachings are not valuable.
The best teachers in any field are not necessarily practicing what they teach. I have been a semi professional musician for years and my first teacher was a famous concertist, he was the worst possible teacher. Then my second music professor hadn't been playing for 20 years, but he was the best teacher you could imagine. Many of his students won international competitions.
I bought the old Dvds and also took two of his intensives years ago. His teachings are definitely useful, but in my opinion you need to add many more "details" to become profitable.
Jim can probably trade just on market profile, because he has a lot of experience reading the rhythm of the market. For a beginner this is quite difficult.
Also I think that many of Jim's ideas are not applicable anymore because technology has changed and he is old and doesn't understand technology.
Markets change and you cannot be naive and think that an 80yo man have all the answers.
The main concept still apply but all the rest.... be cautious and do your own research.
Jim teaches you how to think about trading. Not how to trade. There is value in that and there is a difference between thinking and actually trading. So if you can get that bolded first line through the head, there might be hope for you, but again, there might not be. Most of everyone that trades Market Profile or Volume Profile at some point has used Jim's material. His books are outdated. Jim ejected some of Pete’s concepts over the years. He refined it. Anyone that uses the term poor highs and lows or weak highs and lows at some point took a course from Jim or took a course from someone else that took a course from Jim. So if you follow FT71 and are confused by his disorganization in Convergent Trading, with half explained concepts, or cancelled and rescheduled AMA's, you might be best to catch Jim sooner than later, he’s 80 now. Just my two cents.
Process oriented goals #1.
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I was a skeptic of the market profile. I think the e-courses are excellent. Since they are more direct and save time, you do not have to listen to all the questions from newbs in a supposedly advanced course. I mean, we are all newbs at some point. It's merely more straightforward and concise. I think the most significant value of the intensive is the homework topic and the replay narrations. Honestly, I think people should start with Jim and then pick up a course elsewhere for the trading execution. His work is the foundation of how one should think about trading, not how to trade. I mean, if it is more important for one to go through the pain of teaching themselves, be my guest. You’re not going to walk out of his course with knowing how to trade, but you’ll have one piece of the market generated puzzle. Now putting it together will take some time. One will for sure have some ah-ha’s for sure. 😊
Process oriented goals #1.
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You’re not going to walk out of his course with knowing how to trade, but you’ll have one piece of the market generated puzzle. Now putting it together will take some time. One will for sure have some ah-ha’s for sure. 😊