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Joel Parker's www.priceactionroom.com review


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Joel Parker's www.priceactionroom.com review

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  #11 (permalink)
london, UK
 
Experience: Beginner
Platform: NT7
Trading: TR909
 
Posts: 58 since Aug 2010
Thanks: 41 given, 36 received

well i haven't expected to suddenly make millions after a few months of doing a course on what is quite a specific topic i.e. "tape reading", as I mentioned i am expecting it to take yrs to get a level of proficiency.

Anyone that says they are profitable directly after taking a course i would seriously doubt, changing how you think is not immediate and can only take years.

One thing i have noticed in the short term is that i am not taking so many losing trades based on what i see on the tape, this is as a direct result of the insight Joel has provided. 6 months ago I would still be taking some of those newbie trades (and losing).



Trafford View Post
A key thing I have not heard is " I purchased the course, practiced what I learnt and made money from my investment."

I wonder why I have not heard that, is it that we are seeking the holy grail and attending courses attempts to fill that void that exits for most if not all traders. Also I am keen to know what specifically people learnt from a course they attended and how it helped their trading as comments received so far have been vague and lack real content about their experiences and how it has helped them in their trading. Am I alone in this?


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  #12 (permalink)
london, UK
 
Experience: Beginner
Platform: NT7
Trading: TR909
 
Posts: 58 since Aug 2010
Thanks: 41 given, 36 received

don't forget my experience is about trading off orderflow, quite specialised and not for everyone.



gktk View Post
well i haven't expected to suddenly make millions after a few months of doing a course on what is quite a specific topic i.e. "tape reading", as I mentioned i am expecting it to take yrs to get a level of proficiency.

Anyone that says they are profitable directly after taking a course i would seriously doubt, changing how you think is not immediate and can only take years.

One thing i have noticed in the short term is that i am not taking so many losing trades based on what i see on the tape, this is as a direct result of the insight Joel has provided. 6 months ago I would still be taking some of those newbie trades (and losing).


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  #13 (permalink)
London, England
 
Experience: Intermediate
Platform: Ninja
Broker: Mirus Futures/Zen-Fire
Trading: EUR
 
Trafford's Avatar
 
Posts: 337 since Sep 2010
Thanks: 378 given, 229 received



gktk View Post
don't forget my experience is about trading off orderflow, quite specialised and not for everyone.


Cool, so your objective was to learn orderflow and help you to be more selective with your trade entries and as a result attending Joel's course helped you with your trade selection and entry which resulted in you taking less trades and kept you from taking bad trades. To me this is much better than Joel is nice guy because at the end of the day he is selling something and I wnat to knwo what I will be getting for my money. All traders looking to hone their skills should be asking these questions. Selecting training is as important as selecting trades. Thank you for your input.

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  #14 (permalink)
Oslo, Norway
 
Experience: Advanced
Platform: CQG, Excel
Trading: CL
 
Lornz's Avatar
 
Posts: 1,198 since Apr 2010

I watched a few minutes of the link posted. Using simple trend lines with the tape isn't necessarily a bad thing, it could probably help a few people on this board.

But I always get wary when I see a so-called successful trader using NT?

As for purchasing his course(s), it would be a lot cheaper (and more useful) to read Wyckoff and Humphrey Neill ( Amazon.com: Tape Reading and Market Tactics: The Three Steps to Successful Stock Trading (9781578989157): Humphrey B. Neill: Books )

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  #15 (permalink)
Houston,Tx
 
Experience: Advanced
Platform: NinjaTrader
Broker: Mirus Futures/Zen-Fire
Trading: TF
 
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Posts: 2,302 since Feb 2010
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Trafford View Post
Cool, so your objective was to learn orderflow and help you to be more selective with your trade entries and as a result attending Joel's course helped you with your trade selection and entry which resulted in you taking less trades and kept you from taking bad trades. To me this is much better than Joel is nice guy because at the end of the day he is selling something and I wnat to knwo what I will be getting for my money. All traders looking to hone their skills should be asking these questions. Selecting training is as important as selecting trades. Thank you for your input.

If you watch the snippet Big Mike posted the link to, you will get an understanding of his method of trading.

It's not for everyone ... including me. It may not be for you either. But the only way you will know is if you look at what he does.

You never know, even a blind hog finds an acorn occasionally.

I'm just a simple man trading a simple plan.

My daddy always said, "Every day above ground is a good day!"
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  #16 (permalink)
London, England
 
Experience: Intermediate
Platform: Ninja
Broker: Mirus Futures/Zen-Fire
Trading: EUR
 
Trafford's Avatar
 
Posts: 337 since Sep 2010
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ThatManFromTexas View Post
If you watch the snippet Big Mike posted the link to, you will get an understanding of his method of trading.

It's not for everyone ... including me. It may not be for you either. But the only way you will know is if you look at what he does.

You never know, even a blind hog finds an acorn occasionally.

TMFT,

I know what he does and have seen some of his video's but they were more sales pitches. I got the sense that the only true way to find out about the actual content was to buy the course so I was after someone that attended to really break things down about what they actually learnt which I believed was not forthcoming in their responses. I think orderflow is a great way to trade, the purest way to trade if you are a day trader for sure as you get much better trade location and trade with the aggressive traders, in my humble opinion. As I said I am sure Joel's work is great but I was actually wanting a student of his to be more descriptive about their experiences which would also help them to solidify what they have learnt, saying it was a good course is not much help to man nor beast if you get my drift.

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  #17 (permalink)
New York
 
 
Posts: 10 since Jun 2011
Thanks: 0 given, 23 received

Ok folks. I wanted to give a first hand experience with Joel's room.

I was eager to get learn price action and tape reading. so naturally, Joel's products looked attractive. Well, I forked over $899.00 for his tape reading bundle. I have never been more sorry and pissed at myself then this purchase.

The course consists of many hours of taped recordings which included some charts and mostly Joel rambling on. All in all, its probably close to 20 hours of recorded rambling. The biggest take away one can learn from the lessons, "Buy when the big institutions are buying and sell when they are selling".

Here is some of the comments that Joel made on his recordings that raises suspicion:

1) I trade 100 lot contracts at a time.
2) One of my trading accounts has a seven digit balance.
3) I offer this program to help people, not to make a living.

If he is doing this to help people, and not to make a living, why is he paying for click advertising ?

Part of his tape reading bundle including 5 days of live trading. But, here's the funny part. He spent the entire time talking. He claimed he would be trading during the 5 days. He didn't place one trade. Not one trade. He claims to be a big trader that trades 100 contracts at a time. But, in five days, during market hours, not one live trade was placed. He didn't even place a simulated trade. He claimed that his preferred setup, never presented itself in the five days. "yeah right".

I give Joel credit. He is a great Salesman. His confidence and his salesmanship are impeccable. i suggest anyone considering his course/s to buy a book. You'll get more out of spending $25 to $35 on a book.

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  #18 (permalink)
Oslo, Norway
 
Experience: Advanced
Platform: CQG, Excel
Trading: CL
 
Lornz's Avatar
 
Posts: 1,198 since Apr 2010

I am sorry for your loss, but it's nice to see the universe is still in order.

There is a reason people become vendors, and it's not because they're killing it in the market.

If only people would spend half as much time researching and trying to understand the mechanics and dynamics of the markets -- as they do searching for someone selling the "holy grail" -- I am quite certain there would be more successful retail traders....

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  #19 (permalink)
Honolulu, Hawaii
 
Experience: Intermediate
Platform: NinjaTrader
Broker: ATC/TT, AMP/Zen-Fire, AMP/CQG
Trading: TF
 
bluemele's Avatar
 
Posts: 2,547 since Jun 2010
Thanks: 3,803 given, 2,833 received


Lornz View Post
I watched a few minutes of the link posted. Using simple trend lines with the tape isn't necessarily a bad thing, it could probably help a few people on this board.

But I always get wary when I see a so-called successful trader using NT?

As for purchasing his course(s), it would be a lot cheaper (and more useful) to read Wyckoff and Humphrey Neill ( Amazon.com: Tape Reading and Market Tactics: The Three Steps to Successful Stock Trading (9781578989157): Humphrey B. Neill: Books )

Lornz,

Do you really believe that a trader can only be successful if they are using your tools? MP/MD or other type of profile indicators?

Would you say the same about Tradestation etc..? Interesting comment.

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  #20 (permalink)
Wellington - New Zealand
 
 
Posts: 5 since Jul 2010
Thanks: 0 given, 1 received



Lornz View Post
There is a reason people become vendors, and it's not because they're killing it in the market. .

Yep.. always was...always will be

Frequent requests are made for the name of someone who will teach the Art of Tape Reading. I do not know of anyone able to read the tape with profit who is willing to become an instructor. The reason is very simple. Profits from the tape far exceed anything that might be earned by charging tuition fees to his students. Its simple economics…..Richard Wyckoff (aka Rollo Tape)…”Studies in Tape Reading”, 1910

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