Blue, Tks for the journal posts and comments about your trading group. I too am looking at joining them but the cost is steep. Let me ask since you were a member of them when they were Masters Palace. Has their technique changed a lot since then. I have a good feeling about them and it is reinforced with comments from this thread but all my colleagues are warning me that i should be concerned they have changed names three times in the last few years. I have to admit its a red flag. At any rate would be interested to know if the core of their system has stayed in tact through the years. tks for your input.
Last edited by booker777; February 16th, 2011 at 01:45 AM.
Well, I have only been w/ them or 1.5 years, so I am no expert. The system seems to have changed over the years to taking smaller moves to larger moves. As Henry puts it, scalping for 3,4,5,6 ticks at at time is simple, but hitting 3,4,5,6 POINTS is the focus right now.
I think the nuances of how he teaches and what he focus' on changes as market dynamics change, but I think every teacher is going to do that. I think it is a good program, but like I said before I believe that anyone can be a profitable trader with or without them.
The key is that they have created a formula with 'guidelines'. Now, those rules are HIGHLY discretionary which I believe trading to be no matter what system you think you have.
There is no holy grail or really one system over another. They took some NextGen (sp?) indi's and planted them on different timeframes and then put together a rules set. However, outside of trading I think the great thing they also focus on is the mental aspects as much as anything if not more. I don't think I am the typical wanna-be trader in that I already have made/earned millions and wanted something that would not be as cyclical as Real Estate Development without all the challenges.
Everyone will approach it with different baggage and I think what the group teaches is a nice set of rules (which most don't follow at first including myself to this day), a good mental picture of what you could choose to be, and a prosperity mindset which most people lack due to the system beating it out of them.
I guess the main disagreement I have with most people is the belief that a system will somehow shortcut your time to profit. I think the only way to do that and in a big way is to get the mental part down AND the proper screen time.
I have yet to see proof of a trader being consistently profitable day-in, day-out in 30 days type of deal. You could be that trader, but I highly doubt it just from my own perceptions of 'lack' mentality.
So, the point I am making is give yourself a couple years with a few thousand hours of screen time. Then you can pull 3-4 points out of the market daily while you are yawning.
P.S. The reason they changed their name from Masters Palace to Third Realm to NFTI is something to the effect of strictly marketing. Not due to screwing any traders or anything like that.
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Ok, so I can see where new highs and new territory are definitely my weakness. Daily was saying up so maybe I could have listened on that one, but I felt pretty certain shorts looked better than longs.
I don't understand yet why it turned where it did? It did hit a pivot that came down 6 points, but no idea why there?
I am thinking of changing up to the CL and moving my contracts down as I have had some loser days on CL, but no streak like what I am on the TF. Cl seems to make it back much more easily.
I probably could have avoided about 4 trades so that is 600.00 right there, but quite a few I felt were very good trades and would get me a few points. The trick for me has been patience waiting for the area, but lately I am not seeing the area if it is a new high. I did about every extension known to man trying to find this pivot, but nothing so far.
If a better trader can show me why there instead of previous pivots then that would be great!
Full Vid (coming soon)
Last edited by bluemele; February 16th, 2011 at 11:38 PM.
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When tf opened today ur 1597 and ur 4181 were powering up market just did 100% extension From the yesterdays late move up and the retracement at the start of the markets. Today's market action was completely dominated by the higher timeframes again i would tell you what i told you before try concentrating on the first four macd's your 610 was never ready to short till market reached 100% extension it did weakened but ur higher macds were all to strong to go counter trend short.. again this just what i see nothing else .. Just my one cent trying to help . Thanks
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Whats not adding up to me yet is the guarantee. If your telling me that it probably takes a couple of years to master the system, how are they not losing out on their yearly guarantee +110%. No questions asked on that guarantee? Sorry just want to do my due diligence.
I've no idea where these pivots are coming from. I was in a nice short for a few minutes only to have it reverse on me with a new bar within seconds and resulting in a 2 tick loss. Trend continued up so I went log and made up the loss, but still! No indication of reversal, no smooth retracement. Looking at the charts, I see sharp peaks of movement, not slow rolling hills like the previous two weeks. Still up for the day with a point thus far and hopefully can capitalize on late trading movement.
Good question. I never had the 110% guarantee. I would also never ask for it. I think that is more of a mindset than a problem.
After 1 year was right when I was live trading and sinking my account over the summer. The problems are with me, not the system or the rules.
If you want a fully automated or more systematic system, then THIS is definitely not your game. If you want something to where you can get a running start with guidelines to using multi-time frame indicators with price action then this is not a bad system.
I am not familiar w/ the refund or really with any of the sign-up stuff as it has all changed.
Also, just fyi but after a couple months I was very profitable. Then, market conditions changed and I fell apart mentally. That is why with some people it requires longer than others in my opinion. All in your natural abilities tied in with your experience and how you react to those over time.
The open was very interesting. To me it may be a struggle before the big move down finally? Retracement of that massive move we had over the last several months. It is going to happen, just a matter of when.
However, I feel great. I think I am back into reading things and reacting a bit more appropriate though, at least in my head but not in my clicking?
I get it. Horst has helped me a lot, and I am finally getting it. I think what I will see out of my trading in the future is longer runs, more control over the 'clicking impatience'. I think I needed a couple crazy weeks for it to sink in?
It feels to me like when I started playing golf a lot I went to a golf pro and he made me change the way I held the club. My gosh it screwed me up. For weeks I was goofed and I wanted to stop, but I remember him telling me that since I had already formed the bad habit that it will not fix itself without significant repetition.
So, I will be patient with myself, if it takes 6 months or 6 years to perfect the method, I will be hear working on how to hold that club.
So far, down 30 ticks for the day, but still in a trade, so we will see. Post it later.
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