Arby, tks again for returning with your thoughts. It helps. If I might inquire further. The way I understand the system is he gives you levels above and below the market price for the day? When a number gets hit, it sets up a trade? For example a higher number gets hit then you buy looking for an even higher number? if price pulls back to a lower number, you short looking for a lower number? Is it that simple? I did do a trial before, while ago but it was really hard to follow along. His maybe's and possibly's were very confusing and it seemed he took credit on that vagueness. There were times when I could tell we were long or short and times I couldn't and that was not a question to ask. If you mind me asking are you saying you are profitable every day with his approach? Without getting too personal can you give me an idea what you avg per day in ticks. When I commented on participating in the room I was just asking the rhetorical question--why would anyone moderate a chat room and provide education when it doesn't seem he likes it and allegedly makes so much money trading. The joke was if I did that, I might not even spend my time on this board but tks again for your help. I reached out to Famed but got no response so not sure what he is doing but he did speak fondly of the service.
The following user says Thank You to booker777 for this post:
Booker777,
levels posted in the room are relative to where the price is currently at. So if a level is posted that is above the current price that is either what is called a bounce target (meaning you could trade up to that level) or it would be a place to resell - it all depends on the surrounding posts and market conditions. Reverse is true if talking about posted levels below the current price. For example, if the current ES price is at 1930.25 and HT posts something like "1933.00 should be no problem, possibly 34.50 and outside chance of 47.50 later on" you would be looking for a place to enter long (based on surrounding posts) to get to the first target of 33. You do need to pay attention to the surrounding posts, because you might get a scalp opportunity or a pullback where you would try for the next higher target, which in this example would be 34.50, and so on. Hopefully that makes sense - it does take some getting used to but what I have found out is that overthinking in this room just makes the learning curve way too long. The objective is to get in sync with what is posted. There are some videos on Youtube that might help you understand better than I have explained. They are on the website as well, but I am not sure if you need to be a member to see them or not.
I don't even notice the "maybes" and "could be" any more, I notice the posted numbers and the surrounding posts. I often review after the fact how close to the posted number the price actually came - it is common to come within a tick or two on either side of the posted number. It is also common for people to enter / exit two ticks within the posted number to increase the likelihood you would get filled. This matters more once you are trading size. But anyway, don't let the "maybes" matter, they are invisible to me.
This will probably vary from person to person, but what helped me decode the posts was to review Moderator B's (Mod B for short) chart (this is how I learned how to get in sync with what is posted). Mod B shows his entries and exits for the day and I compare that against what was posted. Mod B puts that chart out for every day (though you often have to wait a day or two for it to show up on the website but at least we get it - I found it super helpful). At the beginning of each day HT recaps the previous trading day and I compare that recap against the posts as well. These two things helped me more than anything else. Once I got in sync with what is posted I was green every day. Trying to cherry pick which posts to use and which not to use led to red days. I now trade them all, and that was huge. No overthinking, just taking action.
I think HT does enjoy dong this but he does get frustrated with people who bring up their approach to trading and then he has to set them straight because if he doesn't counter it then other traders in the room might think his silence is approval - that seems to frustrate him. He says he has been doing this since '99. If you are interested I would recommend paying attention to the levels posted in advance and seeing if those levels are hit, what happens when those levels are hit - things like that. I wouldn't even bother trying to trade SIM during the free trial because then you are focused on how the trade is going instead of just seeing those two things - are numbers posted in advance hit and what happens when they are. If you see that numbers posted in advance are hit then it would be up to you if you thought you might want to do anything further.
Hopefully this answered some of your questions, but if it doesn't make sense just let me know and I will see if I can do better. I will check back here now and then to see if you have any questions. If you do look into this further it might be good for you to post your thoughts here about it, whether good or bad. It will make this thread worth more if you do.
I hate to see anyone waste money with this guy. He is such a scammer. Talks about "levels" and brags about his winners and downplays the winners. Also, is hostile to questions and obviously tries to intimidate people away from calling him on all the b.s.
I tried to reverse engineer the "levels" and they seemed to be simple support/resistance and levels of directional conviction. What bothered me in the room was there was no talk of protective stops...I have no problem placing a limit order at a level but there is no instruction of what to do if the level doesn't hold, and sometimes price just went thru the level without even pausing.
I like his views/opinions on trading psychology though.
He also says chart timeframe doesn't matter in selecting the levels and that he can generate the level from ANY timeframe chart...I don't know how he could do that.
