NexusFi: Find Your Edge


Home Menu

 





Experience at Live Trading Rooms


Discussion in Trading Reviews and Vendors

Updated
      Top Posters
    1. looks_one Big Mike with 16 posts (120 thanks)
    2. looks_two plethora with 12 posts (1 thanks)
    3. looks_3 Jaguar52 with 11 posts (84 thanks)
    4. looks_4 cory with 8 posts (6 thanks)
      Best Posters
    1. looks_one Alan with 8 thanks per post
    2. looks_two Jaguar52 with 7.6 thanks per post
    3. looks_3 Big Mike with 7.5 thanks per post
    4. looks_4 mayazoro with 4.3 thanks per post
    1. trending_up 232,248 views
    2. thumb_up 457 thanks given
    3. group 121 followers
    1. forum 248 posts
    2. attach_file 17 attachments




 
Search this Thread

Experience at Live Trading Rooms

  #81 (permalink)
 
Ben16JP2's Avatar
 Ben16JP2 
New York, United States
 
Experience: Beginner
Platform: NinjaTrader,TradeStation
Broker: Optimus/Rithmic
Trading: ES
Posts: 75 since Oct 2010
Thanks Given: 179
Thanks Received: 33

Can anyone recommend a good trade room that educates in real time? I would like to learn different methodologies and possibly make money at the same time.

Reply With Quote

Can you help answer these questions
from other members on NexusFi?
Exit Strategy
NinjaTrader
Are there any eval firms that allow you to sink to your …
Traders Hideout
The space time continuum and the dynamics of a financial …
Emini and Emicro Index
My NT8 Volume Profile Split by Asian/Euro/Open
NinjaTrader
NexusFi Journal Challenge - April 2024
Feedback and Announcements
 
Best Threads (Most Thanked)
in the last 7 days on NexusFi
Get funded firms 2023/2024 - Any recommendations or word …
61 thanks
Funded Trader platforms
39 thanks
NexusFi site changelog and issues/problem reporting
26 thanks
GFIs1 1 DAX trade per day journal
18 thanks
The Program
18 thanks
  #82 (permalink)
 MetalTrade 
 
Posts: 1,055 since May 2010

Signal Trading - Live Daytrading Futures Forex Room gives you live trades and education, there is a free 1 week trial, i'm happy about their services, they are honest.

Reply With Quote
  #83 (permalink)
 
eDanny's Avatar
 eDanny 
East Rochester, NY
 
Experience: Intermediate
Platform: NT
Posts: 329 since Jul 2009
Thanks Given: 18
Thanks Received: 425


WooHoo Canandaigua! Born and raised there myself. Small world indeed.

Dan

Reply With Quote
  #84 (permalink)
 itrade2win 
New York
 
Experience: Intermediate
Platform: Sierra Charts, TOS
Trading: E-mini S&P 500
Posts: 751 since Aug 2010
Thanks Given: 447
Thanks Received: 437

Hey guys,

I'm in Bingo, just south of the Cuse.

Ryan

Reply With Quote
  #85 (permalink)
 
eDanny's Avatar
 eDanny 
East Rochester, NY
 
Experience: Intermediate
Platform: NT
Posts: 329 since Jul 2009
Thanks Given: 18
Thanks Received: 425

Nice. I know that CassB over in the NT forums is located in Victor.

Reply With Quote
  #86 (permalink)
 
Azazel's Avatar
 Azazel 
Sweden
 
Experience: Beginner
Platform: Ninja Trader
Broker: Berkeley
Trading: ES, YM
Posts: 2 since Jun 2010
Thanks Given: 6
Thanks Received: 1

I can advise to try out this guy- "Mojo, Predict Wall Street"
just write him email and ask for trial.... I can not post his mail here, coz i did not write 5 posts yetbut u can find him on google very easy.
He runs a good room, just for few people. I was using it for some time and was very surprised how deep he goes into subject. I do not trade with him because now I have my own plan which looks a bit different from his, but I learned a LOT from him.

Optimism means expecting the best, but confidence means knowing how to handle the worst.
Follow me on Twitter Reply With Quote
  #87 (permalink)
 
Big Mike's Avatar
 Big Mike 
Manta, Ecuador
Site Administrator
Developer
Swing Trader
 
Experience: Advanced
Platform: Custom solution
Broker: IBKR
Trading: Stocks & Futures
Frequency: Every few days
Duration: Weeks
Posts: 50,396 since Jun 2009
Thanks Given: 33,172
Thanks Received: 101,537

Moderator Notice
Moderator Notice



Existing thread:


Mike

We're here to help: just ask the community or contact our Help Desk

Quick Links: Change your Username or Register as a Vendor
Searching for trading reviews? Review this list
Lifetime Elite Membership: Sign-up for only $149 USD
Exclusive money saving offers from our Site Sponsors: Browse Offers
Report problems with the site: Using the NexusFi changelog thread
Follow me on Twitter Visit my NexusFi Trade Journal Reply With Quote
Thanked by:
  #88 (permalink)
 Jaguar52 
NY + NY/USA
 
Experience: Advanced
Platform: Ninja
Broker: Optimus Futures- Rithmic
Trading: CL, 6E
Posts: 236 since Nov 2009
Thanks Given: 11
Thanks Received: 1,270

I have a few thoughts about how to save yourself a bundle of headaches and heartaches, and maybe a few buck as you search for a trade room. First question is why do you need a trade room? Simple answer is that in the beginning it can help you get through some of the learning curve, and you have a place for some some sympathetic response and support for your trading woes. Also, a good trade room should help you make money while you learn.

Unfortunetly, with 100's of methods and as many trade rooms out there, how can you wade through the junk and concentrate on the better one's? I have a few criteria that I think are an absolute must for a real trade room where your chances of succeeding and MAKING MONEY WHILE LEARNING are high.

Number one - You must be able to see the moderating traders charts in real time.

Number two - You must be able to see the trades entered in real time either through the moderators order dom, or chart trader or some method where it is apparent that the trade was entered, filled, and managed.

Number three - You must be able to follow the trades, or at least most of them. This issues gets abit difficult in a fast market and may need some adjusting.

To my mind there are three basic types of trading rooms. One is where it's just pure trading, minimal instruction. The other is where the education has more emphasis, and trading takes a back seat...hence few trades. The third is a hybrid; a steady stream of trading towards a set room goal and a scheduled series of ongoing educational sessions in addition to the room's daily trading. So, first you need to decide which is right for you. Here's a tip. If you are considering a trading education in a particular trading method because you have none of your own, then look for the education emphasis. Otherwise, if you have a few good setups you know, and have some of your trading education already underway, then look for a trading room that will add to your knowledge, and help you make money as you learn their methods and tools. If, however, you have traded a bit and have some tools and know some setups and yet nothing is working or going well for you, then look to the hybrid.

Regardless, remember the #1, #2 and #3 rule. DO NOT SETTLE FOR ANYTHING LESS.

If you are unable to see the trade moderators charts and his trade entries then pass that place up. It may be a good place, it may not. But without the visual verifiable evidence you will find yourself not only having to watch your own chart, but also having to compile in your head what is happening, and keep that picture going along with all the other pressures of trading. I do not care what excuse is given...there is no excuse for not showing real time moderating trades taken in real time. Technology is not an issue, money cannot possibly be the issue, so it must be something else? Let's see...fear, exposure, stop fluffing, doubling up or bad trading habits or what? You tell me.

So, there is the absolute newbie (and it's going to be painful) who really needs a lot of luck to avoid the garbage rooms and there is the trader who is just looking to improve and there is the trader who really needs a better set of tools and methods to get him out of his funk.

So if you have found a room then the best way to take advantage of the room is to spend a few weeks just listening and watching. We are conditioned for immediate response syndrome, instant gratification syndrome and these are detremental to your trading health. We can probably all agree on that. If you do take the time to watch and listen, then keep a notebook and write down every trade call, the time and the particulars...targets hit, stops etc. and review it after market while looking at your own chart.

Don't even look at your own chart while doing the assesment. Concentrate on what's going on in the room because if you decide on that room you are going to have to do the next thing to get the most out of the room. That is to trust the trading moderator and his trade calls. Why? Because you want to be able to make money while you learn. So your first task is to see if the room makes sense to you. Can you follow the logic of the trade moderator. If he is a really good trader, he may be a lousey moderator and vis versa. So you need to know that before you join.

Look for verifiable results. Verifyable results are the trade records 1st hand...not some spreadsheet made up afterwards, or some list of trades posted in a chat window (even if in real time). In Ninja it's pretty easy. Look for the trade list records unadulterated right out of Ninja. Look for the summery records.

I have heard a lot of traders complain that sim doesn't count. Well, I think that is wrong thinking. What you need to see is the trade time of entry, the target completion and the stop. Add a tick of slippage in one direction, if you like, to the trade and see what it looks like. Often, a moderator will move to sim if he has hit his daily goal. The better moderators are not at all shy about letting you know they have moved to sim. I think it very unreasonable of traders who insist that a moderator continue to endlessly trade throughout the day without some kind of stopping criteria. The concepts of over trading, pointless trading, mental fatigue, and plain stupidity come to mind if anyone thinks that trading without some kind of daily goal or quota is going to make you a better trader. On the contrary. So why should a moderator be forced to practice bad trading habits just because you as a member may have strolled into the trade room at 10:56 and want a winning trade. Well, guess what. By 10:56 most good traders are done for the day! So, once the daily goal is hit and if the moderator is any good, then you should not have any problems with his moving to sim. What's important is does he continue to call winning trades? Do the tools continue to give high probability setups? Can you see his trades?

So, now you have a room you think is going to work for you. You took the trial, you signed up for 1 month. BTW, do not accept a room where you are required to sign up for a longer specified term...this is bs. If the room is a good room then there should exist the confidence that you will be so pleased and satisfied that you will return of your own desire.

Now, remember the part about trusting the moderators trading? This is where it is important that you accept that fact and live with it. You are not going to catch every trade call...no matter what room you are in. Its just the way it is. Hesitation, you coughed just as the trade was called, a bug distracted you...whatever...its going to happen that you will miss a couple. So, the bottom line is that to get the most out of any trade room AFTER you have done your homework and decided, is to take every room trade period. You homework should already have told you the performance expectation, the style of the rooms moderating trader, the basic methodology and trade setup rules, etc.

Your job now is to learn the method and the setups in great detail, practice them under guidence, and make money while you learn. I have been in some pretty crappy rooms (now I know they were crappy) and some pretty decent rooms (of course these are the one's I abandoned because I did not have my own act together).

Even if you join any trade room remember to look forward to the day when you can graduate and trade independently, consistently successfully. Find a trading buddy and go make some money!

Visit my NexusFi Trade Journal Reply With Quote
  #89 (permalink)
Al2010
 
Posts: 50 since Oct 2010
Thanks Given: 36
Thanks Received: 10

Hi all,
I did not forget about my promise, I was and is a bit busy... I completed the trial with Cannon trading. I will post my logs as soon as I have time. In short, they were profitable both weeks of my trial. The first week they had 3 of 4 (I joined on Tue, not Mon) loosing days but not much, 2-5 ticks. But they recover on Fri, which was trending day and made about +$700 per contract. Lucky Fri? Maybe. The second week of my trial was what I call an easy week - volatile market, all days were trending days, the market was up and one could trade any instrument long and make a lot... It was easy to make money or to loose big. They were up more then $1000 per contract that week... I do not remember exact number in my logs.
In general they are OK. I like the format. Unlike many others they put markers on the chart in advance and clear entry lines - they have their system which I will not describe here. Their system is pretty much straight forward and easy to follow. They do not sell the indicators or methodologies. I may not agree with everything they do and how they do this but... There is very little talking which I like bcs some trading rooms like live chats - everyone talks to everyone, which is total bs to me... I will post my complete logs some day soon.

Reply With Quote
Thanked by:
  #90 (permalink)
 rptrader 
MN
 
Experience: Intermediate
Platform: NinjaTrader
Posts: 111 since Mar 2010
Thanks Given: 466
Thanks Received: 81



Al2010 View Post
Hi all,
I did not forget about my promise, I was and is a bit busy... I completed the trial with Cannon trading. I will post my logs as soon as I have time. In short, they were profitable both weeks of my trial. The first week they had 3 of 4 (I joined on Tue, not Mon) loosing days but not much, 2-5 ticks. But they recover on Fri, which was trending day and made about +$700 per contract. Lucky Fri? Maybe. The second week of my trial was what I call an easy week - volatile market, all days were trending days, the market was up and one could trade any instrument long and make a lot... It was easy to make money or to loose big. They were up more then $1000 per contract that week... I do not remember exact number in my logs.
In general they are OK. I like the format. Unlike many others they put markers on the chart in advance and clear entry lines - they have their system which I will not describe here. Their system is pretty much straight forward and easy to follow. They do not sell the indicators or methodologies. I may not agree with everything they do and how they do this but... There is very little talking which I like bcs some trading rooms like live chats - everyone talks to everyone, which is total bs to me... I will post my complete logs some day soon.

Al2010,

Thank you for the analysis. You explained everything clearly and posted actual results. It's a great review so far and will be even better when you have time to post the logs.

Thanks again,
rptrader

Reply With Quote
Thanked by:




Last Updated on December 8, 2020


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
All information is for educational use only and is not investment advice. There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts