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How has BMT affected your trading?
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How has BMT affected your trading?

  #1 (permalink)
Site Administrator
Manta, Ecuador
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
Big Mike's Avatar
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How has BMT affected your trading?

Please vote and discuss.

How has BMT affected your trading?

Total votes: 230


Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
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  #2 (permalink)
Elite Member
Tampa, FL
Futures Experience: Beginner
Platform: NinjaTrader, Sierra Chart
Broker/Data: Mirus Futures/Zen-Fire
Favorite Futures: 6E, M6E, 6J
Xav1029's Avatar
Posts: 1,374 since Dec 2011
Thanks: 1,452 given, 3,358 received

The downloads section is what drew me here. I thought (formerly BMT) was a gold mine because of all the indicators. Then as my trading has progressed, I have realized that the real value here is all the trading knowledge and experience shared in the webinars, journals, chatbox, PM's and threads. @Big Mike runs a tight ship here and doesn't let any BS carry on for too long, which is what separates this site from others.

London Calling
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  #3 (permalink)
Market Wizard
Futures Experience: Intermediate
Platform: Investor/RT
Broker/Data: IB / DTN
Favorite Futures: Futures
Posts: 4,566 since Feb 2012
Thanks: 4,518 given, 9,154 received
Forum Reputation: Legendary

The journal part.. the most challenging (formerly BMT) part - as one has to be open to write about positive as well as the
negative trading can reveal.
In the journal threads there are the most people as readers - be it (formerly BMT) members or guests
who decide to follow a thread any longer or NOT.
As long as there is a good exchange of questions/answers between readers the thread might
reveal some gold nuggets from where many (formerly BMT) users could profit.
The highest level of course is the webinar part where things normally play out within 2 hours.


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  #4 (permalink)
PTA, Gauteng
Futures Experience: Advanced
Platform: Self built + Sierra + TWS
Favorite Futures: Stocks and Options
DarkPoolTrading's Avatar
Posts: 1,036 since May 2012
Thanks: 1,244 given, 1,308 received

Today marks my 1 year (formerly BMT) birthday I signed up 1 year ago today.

I can say without a doubt that without (formerly BMT) I wouldn't be half the trader I am today. There is no where else where such a wealth of information is available. The quality of the webinars, topics in the threads, knowledge of the senior members, the downloadable content, journals of real traders facing real problems/progress, the list goes on.

There seems to be a culture of willingness to help your fellow trader which I haven't seen anywhere else.

As @Xav1029 pointed out. Big Mike puts an end to BS very quickly which is a refreshing change from a lot of forums out there. It allows real discussions and learning to take place.

Diversification is the only free lunch
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  #5 (permalink)
Elite Member
Kingsport, TN
Futures Experience: Beginner
Platform: Multicharts/Jigsaw
Broker/Data: Optimus/CQG
Favorite Futures: Currencies
eric73's Avatar
Posts: 79 since Feb 2013
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Wyckoff springs are similar to Swing Failure Patterns

I trade something that we call a Swing Failure Pattern. Until I joined (formerly BMT), I didn't know that this is really a Wyckoff Spring and that there was a large number of people that traded it. That opened my eyes to a wider scope of trading.

I would credit the Journals area and the webinars for being the best places in (formerly BMT).



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  #6 (permalink)
Elite Member
Nashville, Tennessee
Futures Experience: Intermediate
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Posts: 1,589 since Sep 2010
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I have PM'd Mike many times thanking him for this site.

....No way would I be where I am today without it.

Nashville, Tennessee

"Life On The Edge of SR"
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  #7 (permalink)
Elite Member
Portland, OR
Futures Experience: Beginner
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Worst thing that ever happened!

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  #8 (permalink)
Elite Member
Rockland county , New York
Futures Experience: Intermediate
Platform: NT 7
Favorite Futures: CL, 6E, SI, ZC
whatnext's Avatar
Posts: 235 since Mar 2011
Thanks: 340 given, 80 received

Describing how my personal failures have led worse trading from time spent here may be of more help than saying Mike gives excellent general guidance (particularly for beginners), there are some brilliant posters / webinars here (a must on taxes), plus writing out your thoughts can really help.

Back testing many, if not most, of NT7 indicators here has never led to profitable trading for me. This is NOT to imply (what-so-ever) that the same is (or will) be true of all others - or that the programming isn't excellent (not qualified to say - but has never noticeably screwed up my comp or NT7).

To put in perspective the results of attempting an inter-day trading strategy based on a multitude of native NT7 indicators: I could have just taken 6+ months off and bought a loaded, as new, Porsche 911 Turbo S 996 with automatic transmission. Frustratingly, I'm nearly certain that there are a few winning auto trade programs, to be had within the failed discretionary system. But how long should one spend on something that might work?

Upon further reflection I probably went to that system to try and avoid the stress that comes with having to make good decisions and have a trading plan that sets trades up in advance (so not to make decisions purely in the heat of the moment).

NO ONE is always right; so if you are doing well ignore some (if not all) of the criticisms on your methods. Also, don't mean to be a jerk, but "rankings" here have not always been meaningful. To be clear I'm not talking about anyone I know of who still posts here.

Bottom line the site is a tremendous bargain for the webinars alone.

"Be right and sit tight." - Jesse Livermore

Last edited by whatnext; May 7th, 2013 at 02:58 PM. Reason: added info
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  #9 (permalink)
Elite Member
Zurich Switzerland
Futures Experience: Intermediate
Platform: NinjaTrader
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Favorite Futures: ES, 6E, CL
Posts: 404 since Sep 2009
Thanks: 64 given, 512 received

Did not affect my trading. But I got lot of inspiration to code the tools I need to trade...

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  #10 (permalink)
Elite Member
Dartmouth NS
Futures Experience: Intermediate
Platform: MC, MC.Net, NT, TWS
Broker/Data: IB / IQFeed / Kids
Favorite Futures: Forex, stocks
bnichols's Avatar
Posts: 638 since Feb 2010
Thanks: 64 given, 460 received

whatnext View Post
Back testing many, if not most, of NT7 indicators here has never led to profitable trading for me. This is NOT to imply (what-so-ever) that the same is (or will) be true of all others - or that the programming isn't excellent (not qualified to say - but has never noticeably screwed up my comp or NT7).

Bottom line the site is a tremendous bargain for the webinars alone.

These remarks raise an important point IMO. To paraphrase comments by Linda Raschke in the webinar yesterday--although what I heard and what she said might be 2 different things -- even though she does a lot of research that does not amount to anything and she abandons most of it such research is not a waste of time since in the very least it makes the job interesting (keeps the mind engaged) and that is the main thing: prevents us quitting given that actual trading, whether trading to make money or trading to learn how to trade, can be very mechanical and very boring.

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