You are jumping the gun a bit.
1. You have to be in the monthly room for 6 months to even qualify for the training and even then you might not be selected.
2. You could take the free trial and decide the calls don't suite your trading style and don't even join the monthly room.
3. You decide just to stick with the monthly room for the calls.
But once you are in the monthly room for sometime you will know who is who etc. Eventhough I'm based in Saudi Arabia and they are based in the US I had no hesitation in wiring the training fee because I had been in the monthly room for 2+ years and the head trader never gave me a reason to doubt his integrity. I don't know about others in the room but for me there was no contract drawn up. I had made some big losses since the close of the monthly room so frustrated I picked up the phone called the head trader and told him that I wanted to join the training asap, he gave me the wiring instructions and from the next day I was in the training room.
When I was in the monthly room only ES trades were called, I don't know about now, but in the training room position trades are called in bonds, gold, crude and natural gas. The training is applicable to all markets.
The following 2 users say Thank You to famed for this post:
How easy has the training been? Is the philosphy difficult to learn. Can you perform as efficiently as the moderator? Cause the next question for me assuming its a good service is it easy to learn and do on your own.
The following user says Thank You to booker777 for this post:
The training is an ongoing process and is very extensive, thorough and takes time to "get it" all. 1 on 1 classes are held after market close or later in the evening at a mutually convenient time but for me because of the time difference (MOC is just past midnight for me) I've had most classes on weekends so its just been like 15 classes so far but I've learned a fair bit. I can tell where most of the numbers come from etc. but I can't tell particularly well yet how the market is going to react at some of those numbers. I wouldn't be able perform as well as the moderator on my own, that is going to take some time...e.g. if he makes 8 calls during the day then on my own I would've seen 4 or 5 of those.
The following 5 users say Thank You to famed for this post:
The criteria for being selected is doing well in the monthly room. E.g. today we were selling the ES since the open for target 1348.50 and 1346.75 and 1345.25 was breakout for 1336.75-1334 with an interim target of 1339.75. What I used to do when I started in the monthly room and its the same mistake that most new traders to the room make is instead of selling into the targets I would buy in front of the targets hoping for a bounce from there and hoping to make a quick 1 to 2 points...this may work at times but today I would've gotten creamed. If that is the sort of mentality you have and stick to it then you won't be selected. This is what I do now: I sold some 1352 (higher orders weren't filled) and took profits .50 in front of the targets and attempted a buy at 1345.75 (small risk because 1345.25 was breakout and a little bounce was expected from there) got stopped out when 1345.25 broke and reversed to short 1344.75 for some and had higher orders working 1 and 2 points above the break out point that didn't get filled. Took profit on 2/3 at 1340.25 and final at 1337.25 and reversed to small buy from 1337 (stopped out for 2 points) and some from 1334.50 (took profit 1337.50) because no lower targets were given. Stop is 2 points from the number or less if you get filled at a better price. If you trade 12 lots the first hour then midday you cut it down to 3 lots and 6 lots for last hour.
I'm doing very well...the goal is to go home green everyday and I manage that almost everyday.
I had lost more than what a paid for the training and would have lost even more if I didn't join so it was a no-brainer for me. Besides, I was never pursued by them to take the training so it didn't seem that they were after my money...in fact I didn't even know there was a training room till they mentioned they were closing the monthly room so they could concentrate with the training room. And the only way I found out about them in the first place was when I asked my broker if he knew of any good signal service for the ES and he emailed me their link. Fortunately for me we shared the same broker.
The following 3 users say Thank You to famed for this post:
Famed and anyone else still trading with this company can I ask for an update on your experience with them. I am on trial now for three days and trying to figure out their system. They don't really make calls per se in their training room just post the relevant numbers for us to use and then layout a general trading approach in their user guide which seems straight forward enough. However, they are not forthright with education nor do they take specific trading questions well which makes it hard to learn and grow. It is another white flag that they dont want to seem accountable for performance so if you dont mind sharing on your experiences would greatly appreciate it. I do think the numbers are relevant and want to give them benefit of the doubt. Tks
