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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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  #31 (permalink)
Legendary  Vendor: www.jigsawtrading.com 
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Well in terms of full disclosure - I don't make anything off his training, he doesn't make anything off my software. He does bundle my stuff with his course. Every time I mention my stuff I get closer to getting banned here for plugging it!

Anyway - this stuff takes a lot of practice. As I understand it, the first course where my stuff was included ended 2 or maybe 3 weeks ago.

It took me about 3 months of looking at the tape 1-2 hours a day before I started to really see the light. I purchased a pre-recorded course initially and later on I went on a 1 week mini-mentorship which was also recorded at the time and I downloaded it. It was a combination of practice & listening to the recordings quite a few times that got me to see something in the tape.

The mini-mentorship was 5 days and there is no way I could have actually retained everything that was mentioned in that 5 day period.

Out of interest - did you make your mind up about the contents at the time or when you tried to apply what was taught?

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  #32 (permalink)
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DionysusToast View Post
I'm slightly biased here - but I will put in my 2c anyway.

First my disclaimer: I am the person that suggested Big Mike chat to Joel. I am also a software vendor myself and that came about directly because of what Joel taught me. I am not here to plug myself though.

I was tape reading before I came across Joel. Mostly trading stocks on earnings/news, looking for specific setups and confirming with L2/Tape.

Thing is - I knew there was more to it than I was seeing. I saw Joels site and spent a fair amount of time chatting with him on Skype. He didn't do anything for stocks but had stuff for futures, so I took the plunge.

At the time, Joel also had a trading room. I saw Joel trade every day in that room - losers & winners. Overall he was very profitable and was trading 10-20 contracts per trade. He closed the room in the end because it just became too much of a social venue and we were all missing trades.

Anyway - for me, the tape is now the final arbiter of whether I enter or not. It keeps me out of bad trades and some good ones but overall it is a net benefit. Remember that I was using it anyway, I just didn't get some aspects of it. I had a fair idea what I wanted and when I spoke to Joel, I got the impression that he knew what he was talking about.

To be honest, you have to be a bit of a masochist to want to learn this anyway. Even after learning it, you will need to put in many hours of just watching it.

Joel teaches a number of things for me - it was analysis of DOM in conjunction with Time and Sales that was of most interest. This is the intent vs actual. There's a lot in there about the thought processes you should be going through when you see particular things on the DOM vs T&S. You go through the difference between thick & thin markets too and how spoofing differs in different types of markets. In terms of just the tape, you will be learning about the flow of trades, who's in control, results the trades are getting and an overall feel for interest. There's some drills to train yourself to read the tape and you really do need to put time aside and just watch it for 30 minutes a day before you start to get a feel for it. It is very much a combination of left brain/right brain skills.

There are some specific setups he teaches but to be honest I didn't pay a lot of attention to that as I was really more interested in DOM/T&S to take back to my stock trading. Of course, I never did go back to stock trading in the end but that's a different story.

Note also that whilst Joel doesn't teach this, my opinion is that this is a great compliment to GOMI CD and the lessons from the tape reading can be applied on a 'higher level view' with GOMIs CD.

An afternoon trade - still open at the time of posting. Fake reversal setting up at the adjacent swing to the left. Got in before in before I thought the longs would start to puke.

@DionysusToast could you please help me understand that if the tools you use are profitable, then why the need to sell the 'tools'?

I always find it interesting to see why profitable traders push product and I understand a few, but always skeptical I guess if the people are truly 'profitable'?

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  #33 (permalink)
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DionysusToast View Post
Out of interest - did you make your mind up about the contents at the time or when you tried to apply what was taught?

He really didn't teach much at all. A lot of unnecessary fluff. Did you notice he didn't take one live trade in the entire bundle ? He displayed live charts with live DOM and live T/S. But, he didn't take one live real money trade or not even one live simulated trade.. How can one claim to be a tape reader and have a mini mentorship and not take one single trade ? He claims to be this big, 100 lot trader. But, he spends an entire week on a live training session and doesn't take one trade ? He spent the majority of the time looking back on the charts and the tape. Basically, what I would call, "trading in retrospect".

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  #34 (permalink)
Legendary  Vendor: www.jigsawtrading.com 
Bangkok
 
Experience: Intermediate
Platform: MultiCharts.NET, S5, Ninj
Broker: AMP, S5, IB
Trading: ES
 
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Posts: 2,977 since Nov 2010
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bluemele View Post
@DionysusToast could you please help me understand that if the tools you use are profitable, then why the need to sell the 'tools'?

I always find it interesting to see why profitable traders push product and I understand a few, but always skeptical I guess if the people are truly 'profitable'?

@bluemele - it's a fair question given all the crap that's out there. In this case, the tools won't make you profitable. I don't do the red light sell, green light buy thing. I don't sell indicators, just something to make the tape more accessible without dumbing it down. Tape is about 2 things - absorbing the information and interpreting it. I only help with the absorbing part. I had trouble absorbing the info and that is why I wrote the tools for myself.

The only thing that really makes me profitable is me.

In terms of why I sell the tools. I did share with friends initially and they convinced me to go commercial with the products. The original versions were quite unstable but fine for me. My 60 year old friend Dale on the other hand managed to mangle the tools in ways I'd imagined impossible. For a production version to exist, it had to be something I could support with zero effort, otherwise it would become a full time endeavor and as you say - then I'd end up not trading myself.

So - to answer your question:
- I was quite reticent myself as I know that supporting software can suck your time away
- To get around this issue, I got a developer to create something very robust
- I sell software for the same reason I trade - to make money

Note also that when the next product comes out, I do expect it to be copied by the trading platforms. I could have gone the patent route but to be honest - the amount of time that would suck out of me & the amount of hours I'd have to spend with lawyer doesn't make it a good candidate for a 'bit on the side'. As such, I'll be quite happy with the kudos of having done it first.

So - if I'm honest, stroking my ego is also involved.

This thread wasn't meant to be about me. If you want to give this stuff a go and write an honest review, I'm man enough to take anything you throw at me. You can do it by PM if you don't want to help an evil vendor. PM me your Skype id and I'll walk you through this stuff and you can have a play with it - no strings attached.

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  #35 (permalink)
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DionysusToast View Post

In terms of why I sell the tools. I did share with friends initially and they convinced me to go commercial with the products.......


... as my friend Charlotte the Harlot told me her mother told her, "Charlotte...never give away anything you can sell ...

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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  #36 (permalink)
Legendary  Vendor: www.jigsawtrading.com 
Bangkok
 
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ThatManFromTexas View Post
... as my friend Charlotte the Harlot told me her mother told her, "Charlotte...never give away anything you can sell ...

You wouldn't have Charlottes number would you?

Like my father used to say - if it's got tits or wheels - rent don't buy.

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  #37 (permalink)
Honolulu, Hawaii
 
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DionysusToast View Post
@bluemele - it's a fair question given all the crap that's out there. In this case, the tools won't make you profitable. I don't do the red light sell, green light buy thing. I don't sell indicators, just something to make the tape more accessible without dumbing it down. Tape is about 2 things - absorbing the information and interpreting it. I only help with the absorbing part. I had trouble absorbing the info and that is why I wrote the tools for myself.

The only thing that really makes me profitable is me.

In terms of why I sell the tools. I did share with friends initially and they convinced me to go commercial with the products. The original versions were quite unstable but fine for me. My 60 year old friend Dale on the other hand managed to mangle the tools in ways I'd imagined impossible. For a production version to exist, it had to be something I could support with zero effort, otherwise it would become a full time endeavor and as you say - then I'd end up not trading myself.

So - to answer your question:
- I was quite reticent myself as I know that supporting software can suck your time away
- To get around this issue, I got a developer to create something very robust
- I sell software for the same reason I trade - to make money

Note also that when the next product comes out, I do expect it to be copied by the trading platforms. I could have gone the patent route but to be honest - the amount of time that would suck out of me & the amount of hours I'd have to spend with lawyer doesn't make it a good candidate for a 'bit on the side'. As such, I'll be quite happy with the kudos of having done it first.

So - if I'm honest, stroking my ego is also involved.

This thread wasn't meant to be about me. If you want to give this stuff a go and write an honest review, I'm man enough to take anything you throw at me. You can do it by PM if you don't want to help an evil vendor. PM me your Skype id and I'll walk you through this stuff and you can have a play with it - no strings attached.

Thanks for the honest answer and much appreciated. I will PM you but I am also very interested in you trading in Thailand. My wife and kids are thinking about moving there for a while and I was told trading at night (NY OPEN) is a bit tough because all the kids are sucking the bandwidth for the games etc.. I will PM You.

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  #38 (permalink)
Legendary  Vendor: www.jigsawtrading.com 
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Experience: Intermediate
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Trading: ES
 
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bluemele View Post
Thanks for the honest answer and much appreciated. I will PM you but I am also very interested in you trading in Thailand. My wife and kids are thinking about moving there for a while and I was told trading at night (NY OPEN) is a bit tough because all the kids are sucking the bandwidth for the games etc.. I will PM You.

OK - definitely PM me for that as there are some services you can get here that give guaranteed international bandwidth.

I'm running on 2mbps but it's guaranteed & much faster than the 8mbps shared services out there. Of course, this is in Bangkok. In other towns, I'm not sure what you'd get but I could find out.

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  #39 (permalink)
Legendary  Vendor: www.jigsawtrading.com 
Bangkok
 
Experience: Intermediate
Platform: MultiCharts.NET, S5, Ninj
Broker: AMP, S5, IB
Trading: ES
 
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Posts: 2,977 since Nov 2010
Thanks: 823 given, 10,277 received


777n View Post
He really didn't teach much at all. A lot of unnecessary fluff. Did you notice he didn't take one live trade in the entire bundle ? He displayed live charts with live DOM and live T/S. But, he didn't take one live real money trade or not even one live simulated trade.. How can one claim to be a tape reader and have a mini mentorship and not take one single trade ? He claims to be this big, 100 lot trader. But, he spends an entire week on a live training session and doesn't take one trade ? He spent the majority of the time looking back on the charts and the tape. Basically, what I would call, "trading in retrospect".

Now here's the strange thing.

I spoke to Joel this morning. As I mentioned, my experience is that he's an approachable guy who will give you his time. I mentioned there was a guy from the last 5-day group course that was most unhappy with what he'd got from it. My experience also is that there was a lot of good info in there that takes months to implement and many listens of the course too..

Funny thing is - according to Joel, he's heard no complaint from any student from he course he ran just a couple of weeks ago (the first one that included the tools). It seems also your complaints weren't brought up in the Q&A during the sessions. Considering how vocal you are being on here, that's a strange thing. Have you not considered approaching him directly?

Anyway - I'll make you an offer as you said you'd taken the course with the tools. PM me the machine id of the machine you registered the tools to and I'll refund you the money for the tools. For transparency, put the machine id here (there's no privacy issue with that, no-one can hack you) if you like.

Cheers

Pete

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  #40 (permalink)
Legendary  Vendor: www.jigsawtrading.com 
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Experience: Intermediate
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Posts: 2,977 since Nov 2010
Thanks: 823 given, 10,277 received


Just a quick update.

As suspected - no request for a refund was made. Mostly because 777n hadn't taken the recent course/purchased the software in the first place, as claimed.

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