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Experience at Live Trading Rooms


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Experience at Live Trading Rooms

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  #1 (permalink)
MktWiz
Monterrey, NL, Mexico
 
 
Posts: 8 since Nov 2009
Thanks: 11 given, 6 received

Hello Traders,

I would like to hear from any of you that could have any previous experience as a subscriber to a Live Trading Room.
I’ve been at some demos at Traders International, Rockwell Trading and also a trading room from Australia called Your Trading Room and it seems they have a methodology that works. Also on the publications of their results the show impressive track records, off course with the disclaimer that those results were obtained on the simulator.
My personal opinion is that I rather use the $4,000 - $6,000 they charge for their services as a “learning cost” and star trading on my own.
I think that at this point in my trading career I have enough experience, discipline and knowledge to start day trading; probably I’m still lacking a specific methodology for my setups, but I’ve been doing pretty well on the simulator and I have a very good knowledge of money management, position sizing and have solid discipline.

I’ll appreciate your thoughts…

Happy Trading
The Wiz

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  #2 (permalink)
 Big Mike 
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No trading room can make you profitable.

I would avoid Traders International at all costs, in particular.

If you are a complete trading newbie then a trading room like EOT's for $233/mo can at least teach you basics, what a future is, all the acronyms, how to do stuff with your platform, things you have to know. But they can't teach you how to trade, no one can.

The best thing you can do is set aside all your money and make a promise to yourself that you won't spend a single dollar trading for at least 24 months from today, if you are just getting started. Then spend 60-80 hours a week for the next 2 years learning. But since most people think that doesn't apply to them and they can somehow beat the odds, the next best thing is to be completely honest about everything to yourself, and keep a Journal of your trades and journey in our Journals section here on futures.io (formerly BMT). No excuses. Everyone loves to make excuses for why something went wrong, but 99% of the time the trader is at fault and whatever excuse they make is pure crap. These are the traders that will fail ultimately. 95% of all traders do fail.

Trading is both the easiest thing to do and also the most demanding thing you've ever done in your entire life. It can ruin your life, your family, and everything you touch if you don't respect it, or it can change your life, your families, and give you a feeling that is hard to find elsewhere if you succeed.

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  #3 (permalink)
 KJAVED 
Toronto Canada
 
Experience: Intermediate
Platform: ninja Trader, Ensign,Market Delta
Broker: AMP,Global Futures
Trading: Eminis
 
Posts: 97 since Jun 2009
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Your voice looks like 100% right.

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  #4 (permalink)
 DavidHP 
Legendary Market Wizard
New Orleans, La (Mardi Gras City)
 
Experience: Advanced
Platform: NinjaTrader
Broker: Ninjatrader / Optimus Futures / AmpFutures
Trading: ES / 6E / 6B / CL
 
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Posts: 1,379 since Aug 2009
Thanks: 10,173 given, 2,428 received

I've been in many rooms at many different price levels.

Most are snake oil salesmen and front runners.

A few are worth the money if you are a newbie.

I'm currently in one at <edit by me to remove the URL>.

The cost is about $30 a month.
The guy has a live room ALL DAY with his charts and audio.
I'm not sure how he affords to do it.

He only trades the ES and 6E and is a pretty good technician. He uses what he calls Ambush trades and uses Fibs extensively.

One fault (imo) is that he uses Think or Swim charts. I never did like them.

He also gives daily video updates and tries to teach you to trade. Most of the people in the room are newbies and papertraders.

I've found that most trading rooms are more of a distraction than a help once you have settled on a method that works for you. The competition of posting your wins/losses and opinions is mostly hype (or lies) and usually creates unneeded pressure when trying to focus on trading.

For a newbie, the rooms give you an idea of how to trade (sometimes) but mostly they create a crutch. You become dependent upon the room or the mentor and can't break free to develop your own method and become successful.

I can post the URL if that is appropriate.
I would not want to advertise his site if that is not OK with futures.io (formerly BMT).

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  #5 (permalink)
 Eric j 
NY
 
Experience: Advanced
Platform: Esignal, MBT navigator
Trading: Currencies
 
Posts: 2,526 since Jun 2009
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I was a student at Felton trading and was with Roger when he was with expert money trader . When I pulled the trigger and commited to joining up I was working for someone and was dying to leave ASAP . I sat in on the room in the AM session and went to work in the PM . I had a rollercoaster P/L when I went live ( up a grand , down a grand ) after the suggested ( everything was a suggestion ) 30 sim days . I clutched on to the rollercoaster for a month and went bust -$$$$ plenty . Then I quit my job and started a seafood business and focussed on that while still joining the room every day . In other words I was looking for a way to leave " the man " and realized trading wasnt gonna get me there - yet . I left the room and trading and after a year started focussing on trading again ( after building a business of my own that I really enjoy ) .

Looking back now after 3 years I do realize that what I learned there was that joining a room or having a mentor or buying a black box or subscribing to newsletters or listening to cramer because you want to quit your job and tell your boss to screw off IS A BAD REASON TO WANT TO TRADE !

Only after looking back now do I know that Roger did emphasise - look at the big picture , recognize and avoid chop , bigger timeframes give stronger signals and he did want all his students to learn what works for THEM .

But the reality is clear , educators dont make money if they dont get people to sign up and they will use any tactic to achieve that end . And BTW I sit in on his training classes all the time and wouldnt you know I always pick up something interesting and have a few laughs .

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  #6 (permalink)
 Zoethecus 
United States of America
 
Experience: Advanced
Platform: NT
 
Posts: 1,149 since Aug 2009

I know of only one honest vendor who trades real money and doesn't charge an arm and a leg. Her name is Trish Oglivie.

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  #7 (permalink)
MktWiz
Monterrey, NL, Mexico
 
 
Posts: 8 since Nov 2009
Thanks: 11 given, 6 received

Thanks David,

I'll appreciate if you could provide the name of the Trading Room you are currently using, so I can take a look...

JL

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  #8 (permalink)
 DavidHP 
Legendary Market Wizard
New Orleans, La (Mardi Gras City)
 
Experience: Advanced
Platform: NinjaTrader
Broker: Ninjatrader / Optimus Futures / AmpFutures
Trading: ES / 6E / 6B / CL
 
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MktWiz View Post
Thanks David,

I'll appreciate if you could provide the name of the Trading Room you are currently using, so I can take a look...

JL

The room is:

Emini Addict

The trader is David Halsey

Emini Addict - Futures Trading, Futures Trading Strategies, Live Emini Trading Room & Trading Videos - Emini Addict

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  #9 (permalink)
MktWiz
Monterrey, NL, Mexico
 
 
Posts: 8 since Nov 2009
Thanks: 11 given, 6 received

I'll appreciate if you could provide the name of the Trading Room you are currently using, so I can take a look...

Big Mike,
Thanks for your wise advice.
I have 12 years of market experience actively trading stocks and options and I have been “studying” Day Trading for almost 2 years and practicing a sim account with good results for several months now.
My goal to become a full time trader comes back more than five years, so this is a project that I have been preparing for a long time, with no hurries, looking to be ready when the right time comes.
I already have some signals and setups using mostly price action, S/R and some tech indicators, but I’ll appreciate any simple technique you could share. At this point I’m not into any sophisticated programming.

I’ll really appreciate your help and advice.

Happy Trading
JL

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  #10 (permalink)
 RJay 
Hartford, CT. USA
 
Experience: Intermediate
Platform: NinjaTrader
Broker: AMP/CQG, Kinetick
Trading: RTY
 
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Big Mike View Post
No trading room can teach you how to be profitable.


The best thing you can do is set aside all your money and make a promise to yourself that you won't spend a single dollar trading for at least 24 months from today, if you are just getting started. Then spend 60-80 hours a week for the next 2 years learning. But since most people think that doesn't apply to them

Everyone loves to make excuses for why something went wrong, but 99% of the time the trader is at fault and whatever excuse they make is pure crap. These are the traders that will fail ultimately. 95% of all traders do fail.

Trading is both the easiest thing to do and also the most demanding thing you've ever done in your entire life. It can ruin your life, your family, and everything you touch if you don't respect it, or it can change your life, your families, and give you a feeling that is hard to find elsewhere if you succeed.


Mike

Mike,

I'll be 24 months in the learning seat at the end of January, 2010.

Every couple of months I look back and say WOW!!! How much I've learned!!!!

I actually think I may nearly be there!!!

I just need to get this Volume/Time/Ticks thing down.

So much R&D, Time well spent. I hope!!!

I'm only going to get one chance at this... No reason to be hasty.

RJay

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  #11 (permalink)
 cunparis 
Paris, France
 
Experience: Advanced
Platform: Market Delta & Ninjatrader
Trading: ES
 
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Posts: 2,565 since Jun 2009
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Big Mike View Post
The best thing you can do is set aside all your money and make a promise to yourself that you won't spend a single dollar trading for at least 24 months from today, if you are just getting started. Then spend 60-80 hours a week for the next 2 years learning. But since most people think that doesn't apply to them and they can somehow beat the odds...

Very well said Mike. I thought I was smarter than that. I had always managed to figure things out quicker than everyone else. And since I was fortunate enough to have a lot of cash saved up, I didn't follow this advice. Two years later I wish I did.

If anyone asks me about getting into trading, I tell them pretty much what you said. You must trade only simulator until you're profitable for 6 months. Expect that to take 2 years.

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  #12 (permalink)
 rg96 
Seminole, FL
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Zen-Fire
Trading: ES
 
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Posts: 4 since Nov 2009
Thanks: 16 given, 2 received

Yes, avoid TI absolutely. I use a very cheap system, that has a daily video recap and chart to reinforce what you've learned.

That method is actually starting a room this week that I will attend for a month to see if it is helpful, but it's already straightforward enough (and only has 4 trades or so a day, so I don't know what else will be said).

Good luck!

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  #13 (permalink)
 Alan 
Sydney - Australia
 
Experience: Intermediate
Platform: Ninja Trader
Broker: Velocity Futures
Trading: ES, 6E
 
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Posts: 155 since Jun 2009
Thanks: 1,442 given, 144 received

I made the error of joining Traders International (TI) and trading in their pro trading room for a few months. This was my biggest mistake so far in trading futures. I lost money following the moderator and paid a fortune to learn a system which does not really work.

I woul definately NOT recommend this site / trading room to any traders. The costs are too high and the losses sustained only add salt to the wounds! Keep as far away from TI as possible.

On the positive side, my underlying system that I use is from Watts Trading. Here is the link. Scalping the E-mini Futures & FOREX @ www.wattstrading.com

I recommend any new trader to start off here as the total cost for the Watts system is a huge $ 67. (sixty seven dollars) That's all. There are no monthly trading room fees, no other costs etc. The system is a basic scalping system that has normal Ninja indicators (MACD, SMI, volume). There is a free trading room which you can attend every day and ask the moderators any questions. The guys are really very friendly and helpful, considering there are no charges or ongoing costs.

This trading room is not a calling room. There are no trades called, however the moderators teach you how to read price action and the market, and this is what is critical to master. They teach you to fish for yourselves, without providing any fish for you. In the long run, this is far better for you as you will hopefully become a good trader. IMO this is worth the $67 cost.

I have tried quite a few other trading rooms over the past year, but most are a waste of time ( in my opinion).

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  #14 (permalink)
 GrkBear 
Woodstock, GA
 
Experience: Intermediate
Platform: Ninja
Broker: Mirus/Zen
Trading: ES
 
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Posts: 11 since Nov 2009
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I was introduced to DTCharts about a year ago. Lavender and DT run the site. Cost is $100/mo. From all the horror stories I have heard about trading sites, I had stayed away from them except for this one as it was recommended to me from a trusted source. She is pretty laid back and very knowledgable. She teaches you how to trade. She used to but does not anymore flat out call trades. She feels it is more important for her to teach you how to trade then make calls. She still calls areas and guides you through them. Yes, I have watched her call trades when she did do it and they were most of the time right on. She also asks most of the time if everyone is green for the day/week. I have seen her take the time and help people get back into the green if they were not. That is the type of person she is. Anyway, she teaches s/r and accumilation/distribution. She has learning vids on the site as well for you to review. Knows her stuff. Contact DT and tell him grkbear sent you and ask for a couple of weeks of free trial in her room. They are willing to let you see what you get before you pay, can't beat that. I hope it helps, it has helped me in my journey.

P.S. Stay away from Traders International. All they are interested in is recruiting new candidates to keep thier enterprise going!! I believe they use an overlayed stochs on price and look for divergence. I used to have the settings or even a template for it. Do yourself a favor and save your money!!! You can learn way more here on this site then you ever will over at TI.

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  #15 (permalink)
 GrkBear 
Woodstock, GA
 
Experience: Intermediate
Platform: Ninja
Broker: Mirus/Zen
Trading: ES
 
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Posts: 11 since Nov 2009
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cunparis View Post
Very well said Mike. I thought I was smarter than that. I had always managed to figure things out quicker than everyone else. And since I was fortunate enough to have a lot of cash saved up, I didn't follow this advice. Two years later I wish I did.

If anyone asks me about getting into trading, I tell them pretty much what you said. You must trade only simulator until you're profitable for 6 months. Expect that to take 2 years.


Same here!! I am a quick study and thought how hard can trading be, lol. After 2 1/2 years of "learning how to trade" I figured out that 90% of it lies between your ears, at least for me anyway.

Everyone always talks about the method but you don't really hear much about the psychological side of trading.

Grk

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  #16 (permalink)
 envisionman 
Mapleton, Utah
 
Experience: Beginner
Platform: Ninjatrader
Broker: Mirus Futures/Zen-Fire
Trading: ES, 6E, TF, 6B
 
Posts: 10 since Jan 2010
Thanks: 2 given, 0 received

if they are the right kind. Large rooms where everyone can speak, a lot of the comments are off topic, people attacking other people, etc.....are no good.

You can find a cheap room where one experienced teacher explains things live for most of the day. In my experience, I don't feel as alone, & I can learn from someone who looks at the market in a different way than I normally would.

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  #17 (permalink)
 Jaguar52 
NY + NY/USA
 
Experience: Advanced
Platform: Ninja
Broker: Optimus Futures- Rithmic
Trading: CL, 6E
 
Posts: 236 since Nov 2009
Thanks: 11 given, 1,270 received

I have a few thoughts about how to save yourself a bundle of headaches and heartaches, and maybe a few buck as you search for a trade room.
First question is why do you need a trade room?
Simple answer is that in the beginning it can help you get through some of the learning curve, and you have a place for some some sympathetic response and support for your trading woes. Also, a good trade room should help you make money while you learn.

Unfortunetly, with 100's of methods and as many trade rooms out there, how can you wade through the junk and concentrate on the better one's? I have a few criteria that I think are an absolute must for a real trade room where your chances of succeeding and MAKING MONEY WHILE LEARNING are high.

Number one - You must be able to see the moderating traders charts in real time.

Number two - You must be able to see the trades entered in real time either through the moderators order dom, or chart trader or some method where it is apparent that the trade was entered, filled, and managed.

Number three - You must be able to follow the trades, or at least most of them. This issues gets abit difficult in a fast market and may need some adjusting.


To my mind there are three basic types of trading rooms. One is where it's just pure trading, minimal instruction. The other is where the education has more emphasis, and trading takes a back seat...hence few trades. The third is a hybrid; a steady stream of trading towards a set room goal and a scheduled series of ongoing educational sessions in addition to the room's daily trading. So, first you need to decide which is right for you. Here's a tip. If you are considering a trading education in a particular trading method because you have none of your own, then look for the education emphasis. Otherwise, if you have a few good setups you know, and have some of your trading education already underway, then look for a trading room that will add to your knowledge, and help you make money as you learn their methods and tools. If, however, you have traded a bit and have some tools and know some setups and yet nothing is working or going well for you, then look to the hybrid.

Regardless, remember the #1, #2 and #3 rule. DO NOT SETTLE FOR ANYTHING LESS.

If you are unable to see the trade moderators charts and his trade entries then pass that place up. It may be a good place, it may not. But without the visual verifiable evidence you will find yourself not only having to watch your own chart, but also having to compile in your head what is happening, and keep that picture going along with all the other pressures of trading. I do not care what excuse is given...there is no excuse for not showing real time moderating trades taken in real time. Technology is not an issue, money cannot possibly be the issue, so it must be something else? Let's see...fear, exposure, stop fluffing, doubling up or bad trading habits or what? You tell me.

So, there is the absolute newbie (and it's going to be painful) who really needs a lot of luck to avoid the garbage rooms and there is the trader who is just looking to improve and there is the trader who really needs a better set of tools and methods to get him out of his funk.

So if you have found a room then the best way to take advantage of the room is to spend a few weeks just listening and watching. We are conditioned for immediate response syndrome, instant gratification syndrome and these are detremental to your trading health. We can probably all agree on that. If you do take the time to watch and listen, then keep a notebook and write down every trade call, the time and the particulars...targets hit, stops etc. and review it after market while looking at your own chart.

Don't even look at your own chart while doing the assesment. Concentrate on what's going on in the room because if you decide on that room you are going to have to do the next thing to get the most out of the room. That is to trust the trading moderator and his trade calls. Why? Because you want to be able to make money while you learn. So your first task is to see if the room makes sense to you. Can you follow the logic of the trade moderator. If he is a really good trader, he may be a lousey moderator and vis versa. So you need to know that before you join.

Look for verifiable results. Verifyable results are the trade records 1st hand...not some spreadsheet made up afterwards, or some list of trades posted in a chat window (even if in real time). In Ninja it's pretty easy. Look for the trade list records unadulterated right out of Ninja. Look for the summery records.

I have heard a lot of traders complain that sim doesn't count. Well, I think that is wrong thinking. What you need to see is the trade time of entry, the target completion and the stop. Add a tick of slippage in one direction, if you like, to the trade and see what it looks like. Often, a moderator will move to sim if he has hit his daily goal. The better moderators are not at all shy about letting you know they have moved to sim. I think it very unreasonable of traders who insist that a moderator continue to endlessly trade throughout the day without some kind of stopping criteria. The concepts of over trading, pointless trading, mental fatigue, and plain stupidity come to mind if anyone thinks that trading without some kind of daily goal or quota is going to make you a better trader. On the contrary. So why should a moderator be forced to practice bad trading habits just because you as a member may have strolled into the trade room at 10:56 and want a winning trade. Well, guess what. By 10:56 most good traders are done for the day! So, once the daily goal is hit and if the moderator is any good, then you should not have any problems with his moving to sim. What's important is does he continue to call winning trades? Do the tools continue to give high probability setups? Can you see his trades?

So, now you have a room you think is going to work for you. You took the trial, you signed up for 1 month. BTW, do not accept a room where you are required to sign up for a longer specified term...this is bs. If the room is a good room then there should exist the confidence that you will be so pleased and satisfied that you will return of your own desire.

Now, remember the part about trusting the moderators trading? This is where it is important that you accept that fact and live with it. You are not going to catch every trade call...no matter what room you are in. Its just the way it is. Hesitation, you coughed just as the trade was called, a bug distracted you...whatever...its going to happen that you will miss a couple. So, the bottom line is that to get the most out of any trade room AFTER you have done your homework and decided, is to take every room trade period. You homework should already have told you the performance expectation, the style of the rooms moderating trader, the basic methodology and trade setup rules, etc.

Your job now is to learn the method and the setups in great detail, practice them under guidence, and make money while you learn. I have been in some pretty crappy rooms (now I know they were crappy) and some pretty decent rooms (of course these are the one's I abandoned because I did not have my own act together).

Currently I do not need a trade room. If you are at that point then congratualtions! If not, then even if you join any trade room remember to look forward to the day when you can graduate and trade independently, consistently successfully. Find a trading buddy and go make some money!

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  #18 (permalink)
 Zoethecus 
United States of America
 
Experience: Advanced
Platform: NT
 
Posts: 1,149 since Aug 2009


Jaguar52 View Post
I have a few thoughts about how to save yourself a bundle of headaches and heartaches, and maybe a few buck as you search for a trade room.
First question is why do you need a trade room?
Simple answer is that in the beginning it can help you get through some of the learning curve, and you have a place for some some sympathetic response and support for your trading woes. Also, a good trade room should help you make money while you learn.

Unfortunetly, with 100's of methods and as many trade rooms out there, how can you wade through the junk and concentrate on the better one's? I have a few criteria that I think are an absolute must for a real trade room where your chances of succeeding and MAKING MONEY WHILE LEARNING are high.

Number one - You must be able to see the moderating traders charts in real time.

Number two - You must be able to see the trades entered in real time either through the moderators order dom, or chart trader or some method where it is apparent that the trade was entered, filled, and managed.

Number three - You must be able to follow the trades, or at least most of them. This issues gets abit difficult in a fast market and may need some adjusting.


To my mind there are three basic types of trading rooms. One is where it's just pure trading, minimal instruction. The other is where the education has more emphasis, and trading takes a back seat...hence few trades. The third is a hybrid; a steady stream of trading towards a set room goal and a scheduled series of ongoing educational sessions in addition to the room's daily trading. So, first you need to decide which is right for you. Here's a tip. If you are considering a trading education in a particular trading method because you have none of your own, then look for the education emphasis. Otherwise, if you have a few good setups you know, and have some of your trading education already underway, then look for a trading room that will add to your knowledge, and help you make money as you learn their methods and tools. If, however, you have traded a bit and have some tools and know some setups and yet nothing is working or going well for you, then look to the hybrid.

Regardless, remember the #1, #2 and #3 rule. DO NOT SETTLE FOR ANYTHING LESS.

If you are unable to see the trade moderators charts and his trade entries then pass that place up. It may be a good place, it may not. But without the visual verifiable evidence you will find yourself not only having to watch your own chart, but also having to compile in your head what is happening, and keep that picture going along with all the other pressures of trading. I do not care what excuse is given...there is no excuse for not showing real time moderating trades taken in real time. Technology is not an issue, money cannot possibly be the issue, so it must be something else? Let's see...fear, exposure, stop fluffing, doubling up or bad trading habits or what? You tell me.

So, there is the absolute newbie (and it's going to be painful) who really needs a lot of luck to avoid the garbage rooms and there is the trader who is just looking to improve and there is the trader who really needs a better set of tools and methods to get him out of his funk.

So if you have found a room then the best way to take advantage of the room is to spend a few weeks just listening and watching. We are conditioned for immediate response syndrome, instant gratification syndrome and these are detremental to your trading health. We can probably all agree on that. If you do take the time to watch and listen, then keep a notebook and write down every trade call, the time and the particulars...targets hit, stops etc. and review it after market while looking at your own chart.

Don't even look at your own chart while doing the assesment. Concentrate on what's going on in the room because if you decide on that room you are going to have to do the next thing to get the most out of the room. That is to trust the trading moderator and his trade calls. Why? Because you want to be able to make money while you learn. So your first task is to see if the room makes sense to you. Can you follow the logic of the trade moderator. If he is a really good trader, he may be a lousey moderator and vis versa. So you need to know that before you join.

Look for verifiable results. Verifyable results are the trade records 1st hand...not some spreadsheet made up afterwards, or some list of trades posted in a chat window (even if in real time). In Ninja it's pretty easy. Look for the trade list records unadulterated right out of Ninja. Look for the summery records.

I have heard a lot of traders complain that sim doesn't count. Well, I think that is wrong thinking. What you need to see is the trade time of entry, the target completion and the stop. Add a tick of slippage in one direction, if you like, to the trade and see what it looks like. Often, a moderator will move to sim if he has hit his daily goal. The better moderators are not at all shy about letting you know they have moved to sim. I think it very unreasonable of traders who insist that a moderator continue to endlessly trade throughout the day without some kind of stopping criteria. The concepts of over trading, pointless trading, mental fatigue, and plain stupidity come to mind if anyone thinks that trading without some kind of daily goal or quota is going to make you a better trader. On the contrary. So why should a moderator be forced to practice bad trading habits just because you as a member may have strolled into the trade room at 10:56 and want a winning trade. Well, guess what. By 10:56 most good traders are done for the day! So, once the daily goal is hit and if the moderator is any good, then you should not have any problems with his moving to sim. What's important is does he continue to call winning trades? Do the tools continue to give high probability setups? Can you see his trades?

So, now you have a room you think is going to work for you. You took the trial, you signed up for 1 month. BTW, do not accept a room where you are required to sign up for a longer specified term...this is bs. If the room is a good room then there should exist the confidence that you will be so pleased and satisfied that you will return of your own desire.

Now, remember the part about trusting the moderators trading? This is where it is important that you accept that fact and live with it. You are not going to catch every trade call...no matter what room you are in. Its just the way it is. Hesitation, you coughed just as the trade was called, a bug distracted you...whatever...its going to happen that you will miss a couple. So, the bottom line is that to get the most out of any trade room AFTER you have done your homework and decided, is to take every room trade period. You homework should already have told you the performance expectation, the style of the rooms moderating trader, the basic methodology and trade setup rules, etc.

Your job now is to learn the method and the setups in great detail, practice them under guidence, and make money while you learn. I have been in some pretty crappy rooms (now I know they were crappy) and some pretty decent rooms (of course these are the one's I abandoned because I did not have my own act together).

Currently I do not need a trade room. If you are at that point then congratualtions! If not, then even if you join any trade room remember to look forward to the day when you can graduate and trade independently, consistently successfully. Find a trading buddy and go make some money!

The above is a quote from Ed Abrieu. Too bad Jaguar took it as his own written word.

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  #19 (permalink)
 max-td 
Frankfurt
 
Experience: Intermediate
Platform: NinjaTrader
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hehe - for all again to konw :

our Jaguar52 == Ed Abreu alias ProTrader Ed

max-td
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  #20 (permalink)
 Big Mike 
Site Administrator
Swing Trader
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Manta, Ecuador
 
Experience: Advanced
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Just a reminder for everyone to pay attention... the answer was there all along. Ed is welcome to post here, just like any other vendor, so long as he follows the no self-promotion policy.



More info about Vendor/Commercial user tagging is here:


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  #21 (permalink)
 AkLio 
Canada
 
Experience: Intermediate
Platform: ninja 7
Broker: IB
Trading: 6E ES
 
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Personnaly, I've been with TTZ for 3 years now .... Greg and other moderators are very serious in the teaching of their method..... I've stared trading futures 3 years ago and honestly, I would not be in this business anymore without them ...

The method is simple and use market profile and few other indicator .... there's no black box or secret stuff .... money management, trigger point, exit point, everything is very clear....

There's no fees per month or anything like that, once you paid, you get a lifetime membership access to all the educationnal section and unlimited access to the live trading room...

You can have a free trial to the live trading room if you want to make yourself your own idea of TTZ

E-mini Day Trading

see ya

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  #22 (permalink)
 ironman07 
Kansas City Mo.
 
Experience: Intermediate
Platform: Tradestation
Broker: tradestation
Trading: es
 
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Wow that sounds more like a advertisement than actual feedback... Are you sure your not one of Greg's gang. All anyone has to do is go to elitetrader and you can find a 40+ page log of the TTZ scam. I tried a short trial of TTZ a few years back and was able to quickly see through their facade... They had some crazy lunatic calling out trades who claimed runners long after the fact of market moves....If you had a data feed you could see the fills he claimed were never possible... After a few days I was contacted by PM by a room moderator requesting me to sign up...I expressed my concerns and requested brokers statements which was met with utter defiance...I was banned from the room which didnt surprise me at all... Remember USA regulators have their hands tied when it pertains to Canadian companies as TTZ. Aklio you should know better than to post in a serious traders forum

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  #23 (permalink)
 AkLio 
Canada
 
Experience: Intermediate
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For you info, ironman

I can assure you that I'm not a administrator or one of Greg's gang as you say. I'm a member of TTZ, that's all.

For the little story, I've started to trade future as a day trader 3-4 years ago. As a complete newbie, I knew that education was the first step but didn't knew where I would found this education. I have read many books but didn't feel I was ready. Then, I've started to look for some real trader-teacher and found them.

In my experience, knowing what I know about the market today and what I knew then, TTZ preserved me from making a lot of mistakes that would had been very costly. I don't say that the road that took me at the stage where I am today had been easy.... Lot of work, lot of frustration, lot of deception, and again, lot of work... I went to many things in my life and trading had been the most difficult thing I ever did. Not that's it hard to pull the trigger, hard thing is to understand what trading is in reality and to understand how to act as a emotional human being .... For me, that's an important contribution of TTZ in my education and I'm not sure that I would still be in this game without them. Learning to trade is a very lonely, personal thing that takes a lot of effort, and being able to grow as a trader in an environment of real trader is a nice thing.

About the calls in the room, I don't understand. Most of the trade they call in the room are made on stop limit to enter long time in advance ....

I have nothing to prove about TTZ, in my experience, these guys had been serious and they helped me in my early times. Now, I fly by my own but still, I like to go in the chat room sometimes because I like that, that's all. Once a year, they organise a get together for the members and it's very cool .....

First post in this threat was about experience of trading rooms, I shared with you mine. They have their trial, you like or you don't. that's it.

Sorry for my English, this is not my "default" language

Lio.

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  #24 (permalink)
 GoldStandard 
arizona
 
Experience: Intermediate
Platform: rolling my own
Trading: ES,CL,GC,6E
 
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This guy isn't really a live trading room, but he does call most of his trades live on Twitter. Every day I see him call trades correctly ahead of time, often nailing swing highs and lows to the tick. He's a very good trader who owns is own prop shop and trains his own traders, and its completely free.

His trading style is based around market profile, specifically volume profile. He trades ES and is starting to trade the TF also.

Twitter page: FuturesTrader71 (FuturesTrader71) on Twitter

Blog: Simplicity in Trading

He has a few videos on his blog.

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  #25 (permalink)
allenmack
Capalaba, Queensland
 
 
Posts: 4 since Jan 2010
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Thanks Alan, I have experienced the TI sting as well, set up cost and fees associated with the trading room were unreasonable and left me a bit resentful. But that was then & this is now. One thing that the TI fiasco has done is made me more determined to make trading work for me and to hell with them.
For the past 12 months in Sim I have learned a lot and had many ahas. I find the futures.io (formerly BMT) site most revealing.

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  #26 (permalink)
 mayazoro 
tucson
 
Experience: Advanced
Platform: Sierra Charts , Sceeto andTOS
Broker: AMP-Rithmic
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Posts: 24 since Feb 2010
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I have experince with futures trder 71 and I think the educational material that he offer for free it gold.
I was for one month in eminiaddic room and I do recommended too.
now ttz I has been a member for a long time and I don't like greg he use to go to trading room and make friend whit the moderator get as much info that he can subtract and live, I know of 2 of the moderator of the room and they feel real bad when they trust him and he only was interested in the info. I am a member of ttz and never make any money with his system because it did not fit me, but putting aside his personality he is a good trader.

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  #27 (permalink)
 mayazoro 
tucson
 
Experience: Advanced
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Posts: 24 since Feb 2010
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TTZ
interesting TTZ students bad opinion I can not put the post but you can google the trading zone reviews

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  #28 (permalink)
 cory 
the coin hunter
virginia
 
Experience: Intermediate
Platform: ninja
Trading: NQ
 
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its hard to bad mouth a friendly guy so let me put it this way, Greg is 35% trader and 100% salesman. Most of the time his trades were scratch trades sure you don't lose money but making money for living as his claim? oh please!

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  #29 (permalink)
 Dagonet 
Mobile US
 
Experience: Beginner
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Broker: Zen-Fire
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try David Knight - Knight Capital Management

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  #30 (permalink)
 cory 
the coin hunter
virginia
 
Experience: Intermediate
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live from thetrading authority 3/25/2010

Join me at 8:15 Central (Chicago Time) using the link below to get my trading perspective, to look at one of the proprietary day trade models and to have a peak at some other markets such as the currencies, gold and some interesting stocks.



To access the conference room hosted by Omnovia, use your web browser and go to:

Revolutionary Trading Education Conference Portal - powered by omNovia
Password: stratlab

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  #31 (permalink)
oiltrader72
NewYork
 
 
Posts: 3 since Mar 2010
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Why you have to use paid rooms when you can join free trading rooms. I think most of these trading rooms are just making money using member fees. I visited atleast around 50-70 different trading rooms in last 3 years. Either they don't want to show their screen which they follow their trade or they are not willing to share the real indicators and method they are using.

If you google there is few live trading rooms are free. The best trading room in my previous experience is the room with TradersHelpDesk.com. It is free to join and the lady teaches very good. The room is worthy without a penny.

Bill

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  #32 (permalink)
 cory 
the coin hunter
virginia
 
Experience: Intermediate
Platform: ninja
Trading: NQ
 
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cory View Post
live from thetrading authority 3/25/2010

Join me at 8:15 Central (Chicago Time) using the link below to get my trading perspective, to look at one of the proprietary day trade models and to have a peak at some other markets such as the currencies, gold and some interesting stocks.



To access the conference room hosted by Omnovia, use your web browser and go to:

Revolutionary Trading Education Conference Portal - powered by omNovia
Password: stratlab

live and open 3/26/2010

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  #33 (permalink)
MoreYummy
Toronto/Ontario
 
 
Posts: 33 since Mar 2010
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i just went inside your room, its empty. Or you close trading early.

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  #34 (permalink)
 cunparis 
Paris, France
 
Experience: Advanced
Platform: Market Delta & Ninjatrader
Trading: ES
 
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live and open 3/26/2010

I went in and some dude was talking about ES from yesterday. It was some kind of replay.

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  #35 (permalink)
MoreYummy
Toronto/Ontario
 
 
Posts: 33 since Mar 2010
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What does the Big Red username mean or use for? Moderator?

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  #36 (permalink)
 Big Mike 
Site Administrator
Swing Trader
Data Scientist & DevOps
Manta, Ecuador
 
Experience: Advanced
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What does the Big Red username mean or use for? Moderator?

It means they are Wizard class:


Mike

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  #37 (permalink)
 mgtrader 
New York, NY
 
Experience: Intermediate
Platform: NinjaTrader
Trading: TF
 
Posts: 28 since Oct 2009
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I just checked out this site. Looks really good.



oiltrader72 View Post
Why you have to use paid rooms when you can join free trading rooms. I think most of these trading rooms are just making money using member fees. I visited atleast around 50-70 different trading rooms in last 3 years. Either they don't want to show their screen which they follow their trade or they are not willing to share the real indicators and method they are using.

If you google there is few live trading rooms are free. The best trading room in my previous experience is the room with TradersHelpDesk.com. It is free to join and the lady teaches very good. The room is worthy without a penny.

Bill


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  #38 (permalink)
 cory 
the coin hunter
virginia
 
Experience: Intermediate
Platform: ninja
Trading: NQ
 
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Posts: 6,044 since Jun 2009
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cory View Post
live from thetrading authority 3/25/2010

Join me at 8:15 Central (Chicago Time) using the link below to get my trading perspective, to look at one of the proprietary day trade models and to have a peak at some other markets such as the currencies, gold and some interesting stocks.



To access the conference room hosted by Omnovia, use your web browser and go to:

Revolutionary Trading Education Conference Portal - powered by omNovia
Password: stratlab

it is on 4/2/2010 9:36 NY time

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  #39 (permalink)
 Jaguar52 
NY + NY/USA
 
Experience: Advanced
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Broker: Optimus Futures- Rithmic
Trading: CL, 6E
 
Posts: 236 since Nov 2009
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I have been to a lot of trading education rooms, bought and learned a lot of methods, strategies, approaches, styles, bought hundreds of tools, and lost many tens of thousands of dollars, over the last 8 years or more. I can list about 50 of them (kind of tells you how hard this all was for me), from the most popular to the obscure. Many have joined the ranks of the disappeared. Though out that time I became aware of one enduring growing feeling. It could have been my fault being so eager and so new. It is hard to resist the claims you see out there of easy profits and fast success and "I made 100k last month trading my system and its yours for $7,500 down and $1000 a month for as many years as you are foolish enough to give it to me.", etc. etc.
This is a tough feeling to get over; That at many places I bought into I was being cultivated, groomed, and in many cases, milked for all I was worth.
A tell tale sign is the manner is which you are spoken to by the trader moderator educator coach or guru you are deferring to as the definitive authority.
Call it paranoia if you like, but what I have learned is that when help is genuinely helpful then the learning experience, to my mind, takes on the tone of "here is what I have done, and here are the mistakes I have made, and my 2 cents worth is that you don't have to make the same mistakes, but chances are that you will. So, I will charge you $x for my time, and I encourage you to get every pennies worth by learning the material I give you, asking questions, listening and watching and following the process I will guide you through". Now that is as honest as it can get, but at the same time its also helpful to hear "there is no extra charge". Unfortunately, very few newer traders can listen - as opposed to who are willing to listen. Even of those who can listen, there are fewer who can do. The saying goes 'where there is a will there is a way'. Many are willing but the fact is that most can not do. One of the key traits I have learned is that perseverance (damned pig headedness refusal to quit) is as important as patience, discipline and study.
It is hard to admit that you are a failing trader. It's harder to admit it after 4 or more years of trading, and it's harder to admit it if you have not accepted full responsibility for your failure.
There is so much free help and inexpensive help out there that succumbing to a high price tag for traders education is ludicrous. I think anything over $5k for the initial education (including indicators, methods instruction, and trade room attendance) is robbery. Many compare this to a college or a grad school education. But the fact is that in this business the drop-out failure rate is 90%! So comparing it to the cost of a college education is wrong. The drop out failure rate in college attendance is nowhere near this number. So of course, the fee's are high. The rewards are pretty much in the bag if you stick with it, and most do go on to rewarding successful careers. Not so in trading. The reality is that you are going to need your money to survive your first few years as a trader. The fact is that your education happens in the trenches - in the pit so to speak - out there risking, losing and winning. All the prep, all the education, all the coaching and guidance is put to the real test when you plunk your money down and take your first few stop outs.
Then the harsh reality of discovering what kind of trader you really are starts to kick in. Do you really want this emotional agony? Or do you just want some reliable trade signals from someone who has already gone through the gauntlet and come out the other side? I recommend you find this out as quickly as possible. It will save you a world of hurt and loss. Now, if this is the case, then for my trade signal service I would charge you a college tuition! Hey, you take my trade signals and you are going to make some pretty good money. But, remember, can you take my signal? Ah ha! This is not so easy. I have found that many people who just want the signals can not take them. I think this is because they have still not made the choice. To be a trader themselves or to just buy a trade signal service. It's like this. take your car to the mechanic and have him fix it, or fix it yourself. It really is that basic. You trust your mechanic? Probably not. You trust your doctor? More than the mechanic for sure. So, make your choice, and pay the right kind of fee for the kind of choice you make.
Should you decide to become a trader, which kind of trader education programs and rooms do you need to stay away from? Those that make you dependent. Those that give you too much information in too broad a stroke. Those that offer theory without practical hands on or visual show and tell. Those that give you too much all at once. Those that show you too much potential and suggest that this is easy if you just follow the steps. Those with too much slick, too much polish, too much hype and too many members. Interesting phenomena about those big traders education organizations. Lets see... 90% lose, 90% attend trade rooms for extended periods, 90% buy indicators and methods, 90% pay big dollars for education from big traders education organizations, ... do you get my drift here? Misery does love company, and if you find yourself in any environment where the crowd is, then leave. Those who make it in this are really the loners, the one's out there on the fringes doing their own thing, doing things their own way, at their own pace, using their own brains, making small steady gains, and being patient. If you can accept $50 a day 4 out of 5 days a week as a good day in the beginning, then you have a chance. Eventually after 4 or 5 years, many traders who succeeded came to this point and started to accept consistency over lucky strikes, steady gains with controlled losses over huge gains and huge losses. Many just got off the roller coaster and started to walk one step at a time.
I think a trade room or trade educator who hands you a book list, gives you a trading manual of the setups, some basic money management guidelines, a bit about the psychological journey, and then a few months watching him trade and offering you that time to pick his brain, ask questions, watch him lose, watch him win, hear him think, and just know that he is there on the other end doing nothing but watching his charts same as you. Then get his critique and review of your developing approach. Show him your trades, let him point out what was good, what was bad. Let him hold you accountable so you can learn how to critique yourself. You really need to trade along side with someone. You need to see it for real, in real time and listen to what really goes on when in a trade. It gets pretty boring, and you have to be able to see that really happening. You have to see someone else make their daily goal and walk away. You need to see what discipline is, what trading to a goal is, and all those things you hear and read about put into action on a scale you can grasp personally. We are not talking money fund management level or pit trading here. We are talking small scale bread and butter make a good living trading for those 90% out there who are caught up in the hype of the big traders education organizations marketing and being shown too big a picture with too big an expectation too soon. Its in the small details about how you trade, what you think about while trading, what you can and can not do as a trader that is going to make the real difference. Ask yourself - do you think a big trade organization is really interested in turning out successful traders by the dozen every day? They make their money working the numbers. Yes you need the information, but you need hands on how to apply that information much more.
It really is up to you if you are going to succeed at this or not. You have to read the books, you have to do the homework, you have to develop and test your plan, you have to deal with and resolve your emotions and reactions to loss and gain, you have to be patient and watch and analyze what the trade educator is doing while he trades in front of you, you have to understand his responses to your questions, and learn to ask the right questions and accept the answers even if they hurt. Your trade educator can only coach, teach, show and tell. You have to do it all.
There are some decent traders education rooms out there though, and if you want my opinion about which ones those are then you have missed the point.

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  #40 (permalink)
allenmack
Capalaba, Queensland
 
 
Posts: 4 since Jan 2010
Thanks: 8 given, 1 received

Thanks jaguar, Brilliant stuff. Some real gems of information and reassurance in this post.

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  #41 (permalink)
 JamTheTrader 
Juno Beach
 
Experience: Advanced
Platform: Ninja and TS
Broker: Optimus Futures / Matt
Trading: multiple
 
JamTheTrader's Avatar
 
Posts: 135 since Sep 2009

A trading room can help both new traders and experienced traders that are still struggling.
If you are profitable, and consistent in your trading then you don't need one. Most are pure bull crap anyway. (my 9 year old son said B.S. was to harsh)

Trading is not a lottery ticket, and will take years to master for most. Indicators lie and must be followed closely with price action and market structure. Any trading room that does not teach you how to read the market is one to stay away from in my humble opinion.

So many traders come into my room expecting to just blindly follow what I do and make money!! I weed out many lazy people (wouldn't call them traders as they will hop from room to room blaming everyone else but themselves until they have destroyed their lives) right away by telling them it is not going to happen.

Why?

Because most can not focus for more then a few minutes at a time, and after I am in a trade on the chart, they have missed it and it was a great trade, then they focus to catch the next two or three losers, now they are down, angry, frustrated and want to blame somebody, so they turn there attention elsewhere and miss the next big winner. Now they are really angry and decide to stay focused and revenge trade doubling there size just in time to take the next couple losers.

At this point, they either leave my room claiming it a failure, or they get me in a one on one and I deal with there head issues. (focus, work ethic)

Blatantly honest with then I tell them to get there head out of there $%#, then I give them a weekend full of chart work, tell them to study the first few chapters of trading in the zone (rest later) and at that point I lose a few more . (still weeding out the ones that really want to learn from the rest that would waste my time).

Believe me, I would rather lose the students that want to treat trading as a hobby and waste my time. I don't need the money.

Now, the ones that are left and still with me have advanced to the next level in there trading already, because they are able to put away ego's and listen. They do the work assigned to them and more!

Trading is hard work and not everyone will make it.

Yes I am a vendor and trade room operator, but more important, I am a trader who in my 16 years of learning, losing, break even, and finally, yes, finally profitable have come to the conclusion that most trading room operators couldn't trade there way out of a paper bag!

I must also say, that some days I just want to close shop and have a very peaceful career trading as opposed to adding teaching to the mix! But, I am quickly rewarded (yes a little ego) when my students send me account statements showing their progress, they are required to prove their trading results before moving up in my belt system.

I watch them stop overtrading from taking 50 trades a day to taking 6 to 10 trades a day and actually break even consistently. Then, they start making small profits consistently, then finally large profits , this alone keeps me going.

I guess that I should get used to the turn over.
I can usually tell the first day whether a trader will make it or not, although I have been surprised a few times.

Here are a few things that are important! This is by no means a complete list, but you could keep a thread going by adding to it if so desired.

1. Every trader needs to take responsibility for their trading, mistakes, losses, and
education.
2. If a trader can learn that losses are just a part of doing business then they are way
ahead of the game. If a trader can not get this one, then they will hesitate and miss the
good trades.
3. If a trader can learn that large leverage is a disaster waiting to happen then they are
starting to get it. (No blown out accounts) This does not have to be a right of passage!
4.If a trader can learn to read price action and trade in the direction of higher time frames,
and stay out of choppy markets then they might make it. (before anyone
tries to correct me here, yes, counter trend trading can be extremely profitable, but should be reserved
for experienced traders only)
5. Trade on sim to start and treat it as if it were real. (Yes, Sim is not live but is very
valuable for new or losing traders)
6. When profitable on Sim consistently, go to a micro Forex account risking .10C per pip
7. When profitable on Micro, then go to a mini Forex account risking 1.00 per pip
8. when profitable on Mini, then go to a full size account (providing you have risk money available)
9. At this point you can start looking at some of the futures markets as well

Of course this is all just my humble opinion and yes I am a vendor. No, this is not meant to be self promotion!!
This is pure honesty as to what I have experienced on both sides of the Vendor fence!!

Sincerely,
Jim
AKA
JamTheTrader

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  #42 (permalink)
 jungian 
Ontario
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Mirus/ZF
Trading: ES, 6E, CL
 
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Thank you Jaguar.

You couldnt have said it any better. Tell a new trader to set a goal of $50 a day 4 out of 5 days and they will say "No way brother. Why not $500? I ain't gonna pay for that Ferrari with $200 a WEEK!" lol

Great post Jag!

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  #43 (permalink)
 cunparis 
Paris, France
 
Experience: Advanced
Platform: Market Delta & Ninjatrader
Trading: ES
 
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I posted a review of the L2ST trading room in my journal.

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  #44 (permalink)
 mayazoro 
tucson
 
Experience: Advanced
Platform: Sierra Charts , Sceeto andTOS
Broker: AMP-Rithmic
Trading: ES
 
Posts: 24 since Feb 2010
Thanks: 3 given, 34 received

I have been using Market Profile for a decade now, so when I see a room that is using MP in his trading, I always curious if I can learn something from .
So I check Channel trading and pay for one Month $50 at that time and to be honest I did not learn one thing new to my MP knowledge, probably and I hope Kevin(Moderator of the room) learn something for me.
But what start to get my attention was the emotional and mental clarity that he show in all his calls,
I know that some traders don't like rooms that make calls , but I thinks that is extremely important to see real life how a pro think and act in the battle field . I understand that a call with out teaching is meaningless, but he make most of the calls with sufficient time and explaining the set up why he is taking the trade where to put the stop and what to expect for a target. I will say that once he in the trade
his mind is very focus and very clear and he management the trade with impeccable discipline and always explaining what he is seeing and thinking of the market.
The emotional intelligence is his best quality , if he win or lose he is always in control and he can take another trade with the same mental clarity over and over.
In the 2 months in the room I will say that 70% of his trade are profitable , 15% brake even and 15% stop out of -1 point.
In 2 months he only have 2 days on red ( I will say pink) nothing to worry about
He use Market Profile in a very efficiency way to find support and Resistance levels + Fib # but his strong side come from reading Price Action , I never see any one that can read the market with such a confidence and precision.


I has been in a lot of rooms and I can say that this room has something new to offer: a professional trader that know how to make money every day and most important , he Know how to teach


If you have experience the room will more than enough but if you a new trader he offer seminars every week.


. He show his charts in gotowebinar where he explain all his set ups in real time,very clear and in advance


NO I am not affiliate in any way to his room
and I don't know for sure if he trade real money because he don't show his Dom.in the gotowebinar presentation
But I will say one thing , in this 2 months he prove me that he can read and trade the market like very few can and the best part is that he is well articulate in his teaching. He answer all the questions


One thing that I dont like it is that you can not communicate or interact whit the participators of the room your typing is only see by him . He offer me to use the microphone but my English is worst when I speaking than when I type


The only reason I am posting this is to present another option for a new trader or some one that is having a hard time to put his trading together. You can check, is this kind of trading go with your personality.
As all we know that if you don't understand the Market and yourself your probabilities to make a living in this sport are very small, even if you have the best education.


Hope some one can benefice from this info. And Excuse my English


Best to all

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  #45 (permalink)
 jgreene 
Palm City, Fl
 
Experience: Beginner
Platform: Ninja
Broker: NinjaTrader Brokerage
Trading: Futures
 
Posts: 23 since Mar 2010
Thanks: 5 given, 5 received

What is the web site you are referring to?

Thanks,

Jack

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  #46 (permalink)
 mayazoro 
tucson
 
Experience: Advanced
Platform: Sierra Charts , Sceeto andTOS
Broker: AMP-Rithmic
Trading: ES
 
Posts: 24 since Feb 2010
Thanks: 3 given, 34 received

Channel-Trading

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  #47 (permalink)
evroom1
sarasota fl
 
 
Posts: 42 since Dec 2009
Thanks: 31 given, 15 received

Hey a live trading room should be used to find trading buddies, stay awake , but most importantly to cross check your system to the one presented in the room. There are a few good rooms. Which one you pick should be geared to your level of understanding of trading. Personally I like rooms who fire off trades to order to scalp. Never just take the trades know why YOU are taking them.

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  #48 (permalink)
 webart 
Australia
 
Experience: Intermediate
Platform: NT
 
Posts: 106 since Apr 2010
Thanks: 48 given, 84 received

The worst one I have been to was Puretick. I took up a trial and went in there to take a look. I watched the guy trying to buy a break out of a consolidation off the POC several times each time it failed, but he was claiming he got a break even, I couldn't see how he b/e, it looked like stop out to me .... anyway I would never try to buy off the POC like he was, even back then when I was still just a beginner.

So I tried to cancel the trial and make sure I didn't get billed, but they would not cancel it and everytime I tried they went through the same old sales crap about how they could offer me a good deal, half price etc etc etc.

In the end I had to put a freeze on my credit card to prevent further charges. After doing some searching around I see that I was not the only one to have this issue.

I still get their email marketing garbage, with no way to opt out of it automatically and they will not take me off the email list even after several polite requests.

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  #49 (permalink)
HyperionFX
Singapore
 
 
Posts: 16 since Feb 2010
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webart View Post
The worst one I have been to was Puretick. I took up a trial and went in there to take a look. I watched the guy trying to buy a break out of a consolidation off the POC several times each time it failed, but he was claiming he got a break even, I couldn't see how he b/e, it looked like stop out to me .... anyway I would never try to buy off the POC like he was, even back then when I was still just a beginner.

So I tried to cancel the trial and make sure I didn't get billed, but they would not cancel it and everytime I tried they went through the same old sales crap about how they could offer me a good deal, half price etc etc etc.

In the end I had to put a freeze on my credit card to prevent further charges. After doing some searching around I see that I was not the only one to have this issue.

I still get their email marketing garbage, with no way to opt out of it automatically and they will not take me off the email list even after several polite requests.


Well I was seriously interested in Puretick, but having read your comments about them, I am staying well clear.Thanks for the heads up on these buggers.

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  #50 (permalink)
 darthtrader3.6 
wny
 
Experience: Intermediate
Platform: ninja, excel
Trading: YM, equities
 
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Posts: 86 since Jan 2010

The whole idea of a trading room though is illogical. The online poker world has similar coaching websites like trading rooms but at least those make sense from a self interest standpoint of those who are coaching. The customer pays you money so you can help them move up to the stakes you are playing at, both sides benefit as the one doing the coaching has now increased the size of the economy they play at and the one buying the coaching is a better player.
In trading with only one level/stake and so many other avenues as far as managing OPM, the only logical reason to open a trading room is because you are sick of the volatility of trading itself and want a more steady cash flow. Which begs the question if you are really a good trader if you are sick of the volatility of trading...
Not to mention from the customer perspective, you are basically paying a lot of money to get knowingly front ran.

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  #51 (permalink)
 cunparis 
Paris, France
 
Experience: Advanced
Platform: Market Delta & Ninjatrader
Trading: ES
 
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darthtrader3.6 View Post
The whole idea of a trading room though is illogical. The online poker world has similar coaching websites like trading rooms but at least those make sense from a self interest standpoint of those who are coaching. The customer pays you money so you can help them move up to the stakes you are playing at, both sides benefit as the one doing the coaching has now increased the size of the economy they play at and the one buying the coaching is a better player.
In trading with only one level/stake and so many other avenues as far as managing OPM, the only logical reason to open a trading room is because you are sick of the volatility of trading itself and want a more steady cash flow. Which begs the question if you are really a good trader if you are sick of the volatility of trading...
Not to mention from the customer perspective, you are basically paying a lot of money to get knowingly front ran.

Have you ever been in a good trading room with a profitable trader who explains what he's doing?

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  #52 (permalink)
 cory 
the coin hunter
virginia
 
Experience: Intermediate
Platform: ninja
Trading: NQ
 
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webart View Post
T... and they will not take me off the email list even after several polite requests.

request to take off a email list is the same as yes this is my valid email please send your spam.

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  #53 (permalink)
 webart 
Australia
 
Experience: Intermediate
Platform: NT
 
Posts: 106 since Apr 2010
Thanks: 48 given, 84 received

True, but they know its valid as I used it to signup with. I would never reply to random spam.

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  #54 (permalink)
 Big Mike 
Site Administrator
Swing Trader
Data Scientist & DevOps
Manta, Ecuador
 
Experience: Advanced
Platform: Custom solution
Trading: Futures & Crypto
 
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Report them to the FTC. There is a "can spam" act, it is law.

FTC - SPAM - Home Page

Mike

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  #55 (permalink)
 webart 
Australia
 
Experience: Intermediate
Platform: NT
 
Posts: 106 since Apr 2010
Thanks: 48 given, 84 received

Thanks I will, I was looking for somewhere to report it.

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  #56 (permalink)
 jtrade 
near Amsterdam
 
Experience: Advanced
Platform: NinjaTrader
Trading: 6B, 6E
 
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MktWiz View Post
Hello Traders,
I would like to hear from any of you that could have any previous experience as a subscriber to a Live Trading Room.

I spent nearly 3 years(!) in Barry Lutz' trading room Emini Day Trading - Emini Day Trading Video - Emini Day Trading Strategies , I think 2001 / 2 /3. I see he's still going - please bear in mind what follows is a testimony from my experiences over 7 years ago.

I never quite got there during that period - I'd now say I hadn't sufficiently resolved various psychological aspects of the trading puzzle (an ongoing process in my case) - although what I learned still totally informs the way I trade, even though what I do is much more basic and far less efffective. I still review his recorded webinars from time to time.

Barry posts his trades in real time (at least he used to) and is a master trader. I have met him personally and would certainly recommend him to anyone wanting to learn to daytrade. Whether he fits an individual's needs or personality is up to the individual to discover. I have not communicated with Barry for many years, but as you can tell, I have the greatest of respect for him. He doesn't suffer fools gladly, but always did his utmost to try to assist sincere subscribers. Way back when, he used to post his daily results to his site - I think he stopped as he was criticised on places like Elite Trader by people who refused to believe someone could consistently make multiples of the daily range day in / day out.

I've written more than I intended and better stop before someone thinks he's paying me... and please remember, I didn't say it was easy...

J.

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  #57 (permalink)
 Bankrobber 
manchester
 
Experience: Intermediate
Platform: tradestation
Trading: oil
 
Posts: 57 since Mar 2010
Thanks: 15 given, 21 received

Has anyone ever traded with Bontrade?

They mainly trade CL (oil) which i do have experience trading with already.

They charge $399pm which i feel is steep. I have attended the room on a 1day trail but they do not go over reasons for entries, exits etc as the room is only in text(no voice) calls or explinations for entries. The room does open in the afternoons where they go over the trades entries, but u are not aloud to enter this as a trial member? which makes it difficult to get a feel if its suits?

Having said that i would like to hear from people who have traded or are trading with Bontade for there thoughts

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  #58 (permalink)
 Jaguar52 
NY + NY/USA
 
Experience: Advanced
Platform: Ninja
Broker: Optimus Futures- Rithmic
Trading: CL, 6E
 
Posts: 236 since Nov 2009
Thanks: 11 given, 1,270 received


Bankrobber View Post
Has anyone ever traded with Bontrade?

They mainly trade CL (oil) which i do have experience trading with already.

They charge $399pm which i feel is steep. I have attended the room on a 1day trail but they do not go over reasons for entries, exits etc as the room is only in text(no voice) calls or explinations for entries. The room does open in the afternoons where they go over the trades entries, but u are not aloud to enter this as a trial member? which makes it difficult to get a feel if its suits?

Having said that i would like to hear from people who have traded or are trading with Bontade for there thoughts

IMHO - rooms like this prey on your fears and insecurity. Go find a transparent room. There are no secrets in trading. It is the method you can work, not the method itself that makes the difference.

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  #59 (permalink)
 traderfranco 
BRAZIL
 
Experience: Intermediate
Platform: NINJA TRADER
Broker: NINJA TRADER
Trading: RTY, ES, CL
 
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Big Mike View Post
No trading room can teach you how to be profitable.

I would avoid Traders International at all costs, in particular.

If you are a complete trading newbie then a trading room like EOT's for $233/mo can at least teach you basics, what a future is, all the acronyms, how to do stuff with your platform, things you have to know. But they can't teach you how to trade, no one can.

The best thing you can do is set aside all your money and make a promise to yourself that you won't spend a single dollar trading for at least 24 months from today, if you are just getting started. Then spend 60-80 hours a week for the next 2 years learning. But since most people think that doesn't apply to them and they can somehow beat the odds, the next best thing is to be completely honest about everything to yourself, and keep a Journal of your trades and journey in our Journals section here on futures.io (formerly BMT). No excuses. Everyone loves to make excuses for why something went wrong, but 99% of the time the trader is at fault and whatever excuse they make is pure crap. These are the traders that will fail ultimately. 95% of all traders do fail.

Trading is both the easiest thing to do and also the most demanding thing you've ever done in your entire life. It can ruin your life, your family, and everything you touch if you don't respect it, or it can change your life, your families, and give you a feeling that is hard to find elsewhere if you succeed.

Welcome to futures.io (formerly BMT)!

Mike

Hi Mike,

Do you know a good course about Russel -2000? (TF)

Tks,

Franco

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  #60 (permalink)
 vegasfoster 
las vegas
 
Experience: Intermediate
Platform: Sierra Chart
Broker: Velocity/IB
Trading: 6E
 
Posts: 1,147 since Feb 2010
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Sounds sketchy to me.

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  #61 (permalink)
 Big Mike 
Site Administrator
Swing Trader
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Manta, Ecuador
 
Experience: Advanced
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Trading: Futures & Crypto
 
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traderfranco View Post
Hi Mike,

Do you know a good course about Russel -2000? (TF)

Tks,

Franco

No.

I strongly advise you stay away from ALL of these places. Look, I don't want to tout futures.io (formerly BMT) as the best place ever, but you really can learn a lot more from this forum (and for free, or the price of a small donation -- very tiny in comparison to these other sites) than you can learn from these other sites selling indicators or trade calling services. That is not to be said one of these places may be worthwhile, but for the most part, no one can sell you something that is going to make you a better trader, no matter what that something is. You asked for my advice so there it is.

Now, I'll be honest. I doubt most people reading this thread will heed my advice. Most people reading a thread like this are new, inexperienced traders, who are looking for a shortcut. I've been there. I was even a member of a trading room for two or three months when I was less experienced. I was looking for a short cut back then, although I didn't have the experience yet to even know that. There is no shortcut to trade profitably long term. The two are incompatible. If you are serious and fully committed to trading for a living, then stop spending time looking for the holy grail, and start focusing on building your own experience by doing and learning for yourself.

Mike

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  #62 (permalink)
 JamTheTrader 
Juno Beach
 
Experience: Advanced
Platform: Ninja and TS
Broker: Optimus Futures / Matt
Trading: multiple
 
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Big Mike View Post
No.

I strongly advise you stay away from ALL of these places. Look, I don't want to tout futures.io (formerly BMT) as the best place ever, but you really can learn a lot more from this forum (and for free, or the price of a small donation -- very tiny in comparison to these other sites) than you can learn from these other sites selling indicators or trade calling services. That is not to be said one of these places may be worthwhile, but for the most part, no one can sell you something that is going to make you a better trader, no matter what that something is. You asked for my advice so there it is.

Now, I'll be honest. I doubt most people reading this thread will heed my advice. Most people reading a thread like this are new, inexperienced traders, who are looking for a shortcut. I've been there. I was even a member of a trading room for two or three months when I was less experienced. I was looking for a short cut back then, although I didn't have the experience yet to even know that. There is no shortcut to trade profitably long term. The two are incompatible. If you are serious and fully committed to trading for a living, then stop spending time looking for the holy grail, and start focusing on building your own experience by doing and learning for yourself.

Mike

Mike,

I do believe that a good, key work good trading mentor can either shorten ones learning curve, or at least allow one to realize before spending over 200,000 to learn how to trade (that was my education cost with no mentor). Also, if nothing else, a good mentor will teach his traders how to protect their precious capital first and for most while learning to trade. Trading is not for everybody, and most are not willing to do the work that it takes to learn either.

Jam

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  #63 (permalink)
 Jaguar52 
NY + NY/USA
 
Experience: Advanced
Platform: Ninja
Broker: Optimus Futures- Rithmic
Trading: CL, 6E
 
Posts: 236 since Nov 2009
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JamTheTrader View Post
Mike,

I do believe that a good, key work good trading mentor can either shorten ones learning curve, or at least allow one to realize before spending over 200,000 to learn how to trade (that was my education cost with no mentor). Also, if nothing else, a good mentor will teach his traders how to protect their precious capital first and for most while learning to trade. Trading is not for everybody, and most are not willing to do the work that it takes to learn either.

Jam

I agree that emphatically telling someone to just go it alone is not the best way. It does eventually come down to that, but it depends on how many years and how costly you want the ride to be until that point. Training with someone who has gone the road before you and come to their destination can shorten the learning curve and make it less expensive. The problem arises when you think that a mentor equals no loss and an easy road. IT does not. You still will have pain and suffering, but a mentor can help you control it just by his/her example, and help you understand that whether you make it will eventually come down to you as an individual. If the mentor is any good he can teach you to fish well enough to at least eat regularly. Whether you will feast on cake and ice-cream will be completely up to you and no mentor can do that for you.
So I think having a plan whereby you spend 6 months getting your initial training with someone who YOU MUST VERIFY THEIR TRACK RECORD, can go a long way to get you started out with the least amount of pain.
The hard part is going to be finding the right mentor and first method that you are able to understand and work with.
Alternatively is to find a trading buddy or group and help each other. This is where a forum like this can help. It means a bit more work on your part, and you may have to really find a sympathetic ear to spend some real 1:1 time with you, but it is an alternative, but not necessarily a cheaper alternative or efficient method.
If you plan has a time line and goal projections, then you can gauge whether the progress you are making is suitable for you, and go from there with alternatives.

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  #64 (permalink)
 JamTheTrader 
Juno Beach
 
Experience: Advanced
Platform: Ninja and TS
Broker: Optimus Futures / Matt
Trading: multiple
 
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Posts: 135 since Sep 2009


Jaguar52 View Post
I agree that emphatically telling someone to just go it alone is not the best way. It does eventually come down to that, but it depends on how many years and how costly you want the ride to be until that point. Training with someone who has gone the road before you and come to their destination can shorten the learning curve and make it less expensive. The problem arises when you think that a mentor equals no loss and an easy road. IT does not. You still will have pain and suffering, but a mentor can help you control it just by his/her example, and help you understand that whether you make it will eventually come down to you as an individual. If the mentor is any good he can teach you to fish well enough to at least eat regularly. Whether you will feast on cake and ice-cream will be completely up to you and no mentor can do that for you.
So I think having a plan whereby you spend 6 months getting your initial training with someone who YOU MUST VERIFY THEIR TRACK RECORD, can go a long way to get you started out with the least amount of pain.
The hard part is going to be finding the right mentor and first method that you are able to understand and work with.
Alternatively is to find a trading buddy or group and help each other. This is where a forum like this can help. It means a bit more work on your part, and you may have to really find a sympathetic ear to spend some real 1:1 time with you, but it is an alternative, but not necessarily a cheaper alternative or efficient method.
If you plan has a time line and goal projections, then you can gauge whether the progress you are making is suitable for you, and go from there with alternatives.

Mike,

Very well put. I would consider your forum to be hands down the best out ther period. And no better place can be found for finding help and a great community and believe me I have been out there and there is a lot of crap both vendors, and traders that want to blame everyone else for their shortcomings.

Finding a mentor is not easy, but having one that trades large fund money and private accounts and especially in the live trading room is a huge plus. You can expect to pay more for this service I am sure as you are getting experience and not fluff.

Great words Mike!

Jam

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  #65 (permalink)
 tickvix 
USA
 
Experience: Intermediate
Platform: Infinity
Broker: Infinity
Trading: ES, Euro
 
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Posts: 232 since Feb 2010
Thanks: 137 given, 156 received

Every one thank you for your inputs. Several day ago joined ES and OEX options trading room. Room is moderated by Ed Moore from New Era Trader. Ed is trading end of the week/month OEX options with ES futures. I have been following his trading for over one year now and I think he is very good. Cost for 2 days every week is $175.00 but potential to learn is unlimited. He is offering other services and one month room, but I decided to start with 2 time per week and see how this would go. If I can make 4 points on ES trading with Ed I would cover my cost. I guess its very good. There are records of his trading on his website and you can even talk to him on the phone. I'll keep you all posted on my progress.

Have fun and stay green!!!

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  #66 (permalink)
 Chipmunk 
The Moon
 
Experience: Beginner
Platform: NinjaTrader
Trading: ZF
 
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Posts: 44 since Jun 2010
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Please share your experience with the following trading rooms:

Channel-Trading
TAS Futures Trading Room: Get serious about your trading career
Tradingclinic.com
TradingStarPro.com | Learn Simple and Powerful Day Trading Techniques
Signal Trading - Live Daytrading Futures Forex Room

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  #67 (permalink)
 nqcruiser 
Cape Town, South Africa
 
Experience: Advanced
Platform: ninjatrader, ensignsoftware
Broker: ampfutures/Zen-Fire
Trading: 6E, Cl, TF
 
Posts: 120 since May 2010
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i do not see anything wrong with a mentor or a tradingroom, provided they have an edge that is recurrent and clear so that the students can test out the edge using sim or replaytrading. plus also, my mentor bill mcdowell says loss management is the key, as wins do not need any babysitting or management to become wins. i am currently having a dismal performance, which is mainly for my lack of focus.

what bigmike says i have heard b4 from estanblished traders. problem is, no begiinner is going to get consistency just doing a throw of coin or some method he has seen on a forum. i have yet to encounter some person who is consistently profitable with a couple of ema's and a coule of hh,hl. if they exist, i have maybe not been to enough forums. i know elitetrader, traderslaboratory. most of the consistently profitable traders on public forums do kept their threads or journals as informercials. if u want to dig deeper into their method, u have to pay for some system.

plus while futures.io (formerly BMT) is a gr8 place, i tend to think that due to countless journals, lack of focus crept in and usually does not mobilise the collective wisdom of the masses of retail traders. if we choose a single instrument like nq and standard anchor and entry chart, traders can share pure price action ideas that are actionable within the confines of what the parameters. unfortunately, i found people tend to think allowing space for every1 to post is the best thing. yes its conducive, but in the long run doesnt really take advantage of the little exxpertise that each little man. i think one of the greatness of AHG, anek's thread, has been to bring the little men toget, definite the parameters, and look for improvements from whatever contribution any1 can make. I tried to look for something similar on priceaction.net, but again, people run their threads and even the close room, doesnt have particular focus to a specific instrument.

Yes the beginning trader can learn from public forums. but there is simply too much out there, even in futures.io (formerly BMT), to shift thru and make sense. I thus appeal for some1 to start a specific thread, with one instrument, and defined anchor/entry charts so that we can share whatever we have learnt in tradingrooms.

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  #68 (permalink)
 waverider 
Brisbane Australia
 
Experience: Advanced
Platform: Ninja; Amibroker; TWS
Broker: Kinetick, IB
Trading: Stocks, Futures
 
Posts: 46 since Dec 2009
Thanks: 28 given, 6 received

I'll put a quick blurb in since I've been in a few rooms. The posted question was simply to review experiences, so that's what I'll do:

For me, a reasonable room is valuable for the contact and confirmations in an otherwise lonely office.

I haven't yet found the 'holy grail' of trading rooms and I can't for the life of me work out why one doesn't exist. I mean surely there is someone out there who is actually a great trader who is willing to broadcast actual trades, show their DOM, track record, and all of that ....

But anyway, I've still found all the rooms I've been in to be extremely valuable, so long as you don't expect too much.

1. Traders International. I started there. I know there's a lot of bad wrap about them, but they got me off the ground, got me disciplined, gave me a lot of material and I'm thankful for that. I have actually been given unique right to sell my membership, so if you are interested, please contact me as I'm no longer in need of it.

2. Your Trading Room. I'm still a member and check in from time to time. I think these guys have a lot of integrity but they specialise in FX and I specialise in the ES. However, when I start to trade FX, I'm going back to these guys. They have an enormous amount of educational material, and the little time I have spent in the rooms was very positive. I haven't been inside long enough to really promote them, but I can say that from what I've seen, it's very good.

3. Puretick. Impossible to follow, impossible that they are actually getting those results; basically always feels like they are calling trades after the fact. Too expensive. Still, I joined for a few months, learned a little and didn't blow my account. However, their track record on their website is definitely 'inflated'.

4. Eminijunkie. Still in this room and love it. This guy does NOT call his own trades, rather he calls the trades of a 'system'. This can be frustrating if you are looking for actual calls. His daily video is openly a 'best case scenario' and should not be given any credence. However, I find his education very good, and once you learn to make the system your own, I feel that there is value in this room. It's also very cheap.

Again, for me the key has been that none of these rooms can or will make you profitable. They are all sources of education and instruction and if you treat them as such, you avoid disappointment. If anyone DOES indeed know of a room that consistently calls profitable and followable trades, then please let us know !

Hope that helps,

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  #69 (permalink)
 jagui 
Italy - Roma
 
Experience: Intermediate
Platform: Ninja + proprietary
Broker: IB
Trading: Index futures, Forex, Stocks
 
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waverider View Post
3. Puretick. Impossible to follow, impossible that they are actually getting those results; basically always feels like they are calling trades after the fact. Too expensive. Still, I joined for a few months, learned a little and didn't blow my account. However, their track record on their website is definitely 'inflated'.

Puretick was the only paid room I have ever been. I learned something... that I alredy knew. Probably for a complete novice is worth a month. The signals were not useful, I only liked the comment moderators did, showing a good understanding of markets. But that's all. 1 month and you get all they can offer.

When I unsubscribed, they become extremely aggressivelly, trying to convince me to stay. When they said they didn't receive my unsubscribing email (but I received the read message notification, lol) I blocked my credit card...

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  #70 (permalink)
 longboat 
Philadelphia, Pa
 
Experience: Advanced
Platform: Sierra Charts
Broker: Amp/CQG
Trading: CL, ES
 
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Posts: 144 since Jun 2009
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I tried TradingstarPro for a month. It is very unprofessional. The guy loses internet connection a lot. He is trading someones method and calling out trades, but you never know the method. Seems like he is doing it in his living room with kids running around. Results seemed like what he claimed but he moved his profit target a lot without being clear what he was doing.
I also tried Puretick for a month. What a pack of liars. He rings a bell for a trade but gets in before that if it is a winner, or says he waited if it went later or averaged down and got out a winner. Never takes a losing trade and never shows his dome. All he does is make fun of newbie trades. You must call them to cancel your trial and they try to convince you to stay. I had to cancel my debit card not to be charged again. Beware! He should be censored by regulators.
Al Brooks price action seems honest and good, but very very involved and confusing.
Advanced Trading Workshops. My trial was nothing but a hard sell. Stay away. I did learn a good divergence method but you can get that from any of their many webinars. Very expensive and a total waste. Just a come on.
Big Mike is right . Save yourself a lot of money and learn here.

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  #71 (permalink)
 jagui 
Italy - Roma
 
Experience: Intermediate
Platform: Ninja + proprietary
Broker: IB
Trading: Index futures, Forex, Stocks
 
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Posts: 200 since Jul 2010
Thanks: 276 given, 287 received

Why don't we open a trading room by ourselves? The BigMike trading room.

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  #72 (permalink)
 MrBean 
Osaka
 
Experience: Master
Platform: Ninja
Broker: IB
Trading: Stocks
 
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jagui View Post
Why don't we open a trading room by ourselves? The BigMike trading room.

Sign me up!

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  #73 (permalink)
 Art10 
USA
 
 
Posts: 1 since Sep 2010

Hello all,
I do not work for or affiliated with Cannon trading. This is just an independent opinion I'd like to share with all. It is totally up to you to follow up on this or not.
Check out the Cannon trading live webinars. They give you 2 weeks free no obligation, no credit cards and such... trial and you can judge by yourselves. They trade Futures - ES mostly. There is nothing to buy and the cost of webinars with the acnnt is $119 per mo. Currently they require you to open the accnt with them otherwise the price is $299 per mo. It is easy to open and close the accnt. with them.
In my opinion this is the best trading room - at least the best of all I tried in the past - NO BS, NO NONSENSE, no indicators to buy. The format is the best as well as the trading system they offer. The format is clear and simple - please see attachments. All of above does not mean they are profitable all the time. Most of the time they are profitable. You can contact
them on the web or phone and ask for Ilan and daily webinars. Check them out and form your own opinion.
Art.

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  #74 (permalink)
 nqcruiser 
Cape Town, South Africa
 
Experience: Advanced
Platform: ninjatrader, ensignsoftware
Broker: ampfutures/Zen-Fire
Trading: 6E, Cl, TF
 
Posts: 120 since May 2010
Thanks: 15 given, 51 received

i hope to see more posts from you, otherwise this may seem like an informercial for me.


Art10 View Post
Hello all,
I do not work for or affiliated with Cannon trading. This is just an independent opinion I'd like to share with all. It is totally up to you to follow up on this or not.
Check out the Cannon trading live webinars. They give you 2 weeks free no obligation, no credit cards and such... trial and you can judge by yourselves. They trade Futures - ES mostly. There is nothing to buy and the cost of webinars with the acnnt is $119 per mo. Currently they require you to open the accnt with them otherwise the price is $299 per mo. It is easy to open and close the accnt. with them.
In my opinion this is the best trading room - at least the best of all I tried in the past - NO BS, NO NONSENSE, no indicators to buy. The format is the best as well as the trading system they offer. The format is clear and simple - please see attachments. All of above does not mean they are profitable all the time. Most of the time they are profitable. You can contact them on the web or phone and ask for Ilan and daily webinars. Check them out and form your own opinion.
Art.


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  #75 (permalink)
 nqcruiser 
Cape Town, South Africa
 
Experience: Advanced
Platform: ninjatrader, ensignsoftware
Broker: ampfutures/Zen-Fire
Trading: 6E, Cl, TF
 
Posts: 120 since May 2010
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tickvix View Post
Every one thank you for your inputs. Several day ago joined ES and OEX options trading room. Room is moderated by Ed Moore from New Era Trader. Ed is trading end of the week/month OEX options with ES futures. I have been following his trading for over one year now and I think he is very good. Cost for 2 days every week is $175.00 but potential to learn is unlimited. He is offering other services and one month room, but I decided to start with 2 time per week and see how this would go. If I can make 4 points on ES trading with Ed I would cover my cost. I guess its very good. There are records of his trading on his website and you can even talk to him on the phone. I'll keep you all posted on my progress.

Have fun and stay green!!!

could u update me this service. the blogs seem to be all from 2007 and i cant access the videos. thanx.

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  #76 (permalink)
 cw30000 
new york
 
Experience: Beginner
Platform: SC, NT
Trading: CL, GC
 
Posts: 213 since Sep 2009
Thanks: 99 given, 113 received

The only trading room I ever been to is to Al Brooks. He does not call trade but will comment on trade that are forming.

Anyway, I found his comment very useful, but I also find it as a distraction.

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  #77 (permalink)
Al2010
 
 
Posts: 50 since Oct 2010
Thanks: 36 given, 10 received

I've been into many rooms including bill mcdowell's(one of the worst), the trading zone (one of the worst), emini addict(briefly), emini jjunkie and many others I do not remember... What's common for all or almost all those rooms there is endless talking which is really distracting to me and no clear trade posting like markers on the chart or such... It is easy to miss a trade when the trade is only announced. Most of them require you to buy their system or indicators, which to me is a scam. I was very disappointed with all the rooms I was in so far. I will try the suggested one above (Cannon) starting next week then share my opinion. And I do not care if this is infomercial or not. I want to know more. Does not look to me as infomercial...

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  #78 (permalink)
 tickvix 
USA
 
Experience: Intermediate
Platform: Infinity
Broker: Infinity
Trading: ES, Euro
 
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Posts: 232 since Feb 2010
Thanks: 137 given, 156 received

Not sure if anyone mentioned these rooms but I like the following two among the many others I have seen or heard about -

1. jpjtrading.com - I am a member there. Market profile and ES trading. A lot of good traders sharing their trades and thoughts, so it can be distracting if one allows. The owner (JP) runs a week of free trial every three or six months showing his trades. Then he teaches for 3 months ($400 a month for a total of $1200 I believe ). After that no charges for the room with on going trading and teaching. JP is not the best teacher but his setups follow a logical method. He makes live calls. In my opinion, you have to trade multiple contracts to make best of his method. Small traders (1 lot traders like myself) can get frustrated. He is trying to help out small traders by including setups from other successful traders in the room.

2. tradingconcepts (tmitchell.com) - I did Todd Mitchell's Emini futures trading course a long time back and he recently started a trading room. I am not a member of his room. I think he charges $200 a month. He also has a Forex room. Todd has a sound method and is based on market flow and price action. He uses bands and MAs to aid his entries. I gathered his sidekick trades and makes live calls. He does not allow chat in the room and so it helps people who may otherwise get distracted. I don't think he offers free trials.

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  #79 (permalink)
joanguma
Barcelona-Catalonia-Europa
 
 
Posts: 4 since Oct 2010
Thanks: 2 given, 1 received

Hi everiybody,

I'm thinking seriously about joining TAS Futures Trading Room (they belong to broker's Daniels Trading and work with their own platform, dt Pro). They use TAS indicators based in Market Profile (for me the most scientist approach to market) from trade Angle. Can anyone tell me something about this guys?

Thank you very much

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  #80 (permalink)
evroom1
sarasota fl
 
 
Posts: 42 since Dec 2009
Thanks: 31 given, 15 received


joanguma View Post
Hi everiybody,

I'm thinking seriously about joining TAS Futures Trading Room (they belong to broker's Daniels Trading and work with their own platform, dt Pro). They use TAS indicators based in Market Profile (for me the most scientist approach to market) from trade Angle. Can anyone tell me something about this guys?

Thank you very much

The guys are nice and professional. I tried them a couple years ago. They claim to have made it better since then. At that time they had about 65% success ratio which is not bad if you have good money management.
Also it is always good if you have some trading experinece before you go into a room

They are worth a try

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  #81 (permalink)
 Ben16JP2 
New York, United States
 
Experience: Beginner
Platform: NinjaTrader,TradeStation
Broker: Optimus/Rithmic
Trading: ES
 
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Posts: 75 since Oct 2010
Thanks: 179 given, 33 received

Can anyone recommend a good trade room that educates in real time? I would like to learn different methodologies and possibly make money at the same time.

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  #82 (permalink)
 MetalTrade 
 
 
Posts: 1,081 since May 2010

Signal Trading - Live Daytrading Futures Forex Room gives you live trades and education, there is a free 1 week trial, i'm happy about their services, they are honest.

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  #83 (permalink)
 eDanny 
East Rochester, NY
 
Experience: Intermediate
Platform: NT
 
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Posts: 329 since Jul 2009
Thanks: 17 given, 423 received

WooHoo Canandaigua! Born and raised there myself. Small world indeed.

Dan

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  #84 (permalink)
 itrade2win 
New York
 
Experience: Intermediate
Platform: Sierra Charts, TOS
Trading: E-mini S&P 500
 
Posts: 753 since Aug 2010
Thanks: 447 given, 437 received

Hey guys,

I'm in Bingo, just south of the Cuse.

Ryan

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  #85 (permalink)
 eDanny 
East Rochester, NY
 
Experience: Intermediate
Platform: NT
 
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Posts: 329 since Jul 2009
Thanks: 17 given, 423 received

Nice. I know that CassB over in the NT forums is located in Victor.

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  #86 (permalink)
 Azazel 
Sweden
 
Experience: Beginner
Platform: Ninja Trader
Broker: Berkeley
Trading: ES, YM
 
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Posts: 2 since Jun 2010
Thanks: 6 given, 1 received

I can advise to try out this guy- "Mojo, Predict Wall Street"
just write him email and ask for trial.... I can not post his mail here, coz i did not write 5 posts yetbut u can find him on google very easy.
He runs a good room, just for few people. I was using it for some time and was very surprised how deep he goes into subject. I do not trade with him because now I have my own plan which looks a bit different from his, but I learned a LOT from him.

Optimism means expecting the best, but confidence means knowing how to handle the worst.
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  #87 (permalink)
 Big Mike 
Site Administrator
Swing Trader
Data Scientist & DevOps
Manta, Ecuador
 
Experience: Advanced
Platform: Custom solution
Trading: Futures & Crypto
 
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Posts: 50,068 since Jun 2009
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  #88 (permalink)
 Jaguar52 
NY + NY/USA
 
Experience: Advanced
Platform: Ninja
Broker: Optimus Futures- Rithmic
Trading: CL, 6E
 
Posts: 236 since Nov 2009
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I have a few thoughts about how to save yourself a bundle of headaches and heartaches, and maybe a few buck as you search for a trade room. First question is why do you need a trade room? Simple answer is that in the beginning it can help you get through some of the learning curve, and you have a place for some some sympathetic response and support for your trading woes. Also, a good trade room should help you make money while you learn.

Unfortunetly, with 100's of methods and as many trade rooms out there, how can you wade through the junk and concentrate on the better one's? I have a few criteria that I think are an absolute must for a real trade room where your chances of succeeding and MAKING MONEY WHILE LEARNING are high.

Number one - You must be able to see the moderating traders charts in real time.

Number two - You must be able to see the trades entered in real time either through the moderators order dom, or chart trader or some method where it is apparent that the trade was entered, filled, and managed.

Number three - You must be able to follow the trades, or at least most of them. This issues gets abit difficult in a fast market and may need some adjusting.

To my mind there are three basic types of trading rooms. One is where it's just pure trading, minimal instruction. The other is where the education has more emphasis, and trading takes a back seat...hence few trades. The third is a hybrid; a steady stream of trading towards a set room goal and a scheduled series of ongoing educational sessions in addition to the room's daily trading. So, first you need to decide which is right for you. Here's a tip. If you are considering a trading education in a particular trading method because you have none of your own, then look for the education emphasis. Otherwise, if you have a few good setups you know, and have some of your trading education already underway, then look for a trading room that will add to your knowledge, and help you make money as you learn their methods and tools. If, however, you have traded a bit and have some tools and know some setups and yet nothing is working or going well for you, then look to the hybrid.

Regardless, remember the #1, #2 and #3 rule. DO NOT SETTLE FOR ANYTHING LESS.

If you are unable to see the trade moderators charts and his trade entries then pass that place up. It may be a good place, it may not. But without the visual verifiable evidence you will find yourself not only having to watch your own chart, but also having to compile in your head what is happening, and keep that picture going along with all the other pressures of trading. I do not care what excuse is given...there is no excuse for not showing real time moderating trades taken in real time. Technology is not an issue, money cannot possibly be the issue, so it must be something else? Let's see...fear, exposure, stop fluffing, doubling up or bad trading habits or what? You tell me.

So, there is the absolute newbie (and it's going to be painful) who really needs a lot of luck to avoid the garbage rooms and there is the trader who is just looking to improve and there is the trader who really needs a better set of tools and methods to get him out of his funk.

So if you have found a room then the best way to take advantage of the room is to spend a few weeks just listening and watching. We are conditioned for immediate response syndrome, instant gratification syndrome and these are detremental to your trading health. We can probably all agree on that. If you do take the time to watch and listen, then keep a notebook and write down every trade call, the time and the particulars...targets hit, stops etc. and review it after market while looking at your own chart.

Don't even look at your own chart while doing the assesment. Concentrate on what's going on in the room because if you decide on that room you are going to have to do the next thing to get the most out of the room. That is to trust the trading moderator and his trade calls. Why? Because you want to be able to make money while you learn. So your first task is to see if the room makes sense to you. Can you follow the logic of the trade moderator. If he is a really good trader, he may be a lousey moderator and vis versa. So you need to know that before you join.

Look for verifiable results. Verifyable results are the trade records 1st hand...not some spreadsheet made up afterwards, or some list of trades posted in a chat window (even if in real time). In Ninja it's pretty easy. Look for the trade list records unadulterated right out of Ninja. Look for the summery records.

I have heard a lot of traders complain that sim doesn't count. Well, I think that is wrong thinking. What you need to see is the trade time of entry, the target completion and the stop. Add a tick of slippage in one direction, if you like, to the trade and see what it looks like. Often, a moderator will move to sim if he has hit his daily goal. The better moderators are not at all shy about letting you know they have moved to sim. I think it very unreasonable of traders who insist that a moderator continue to endlessly trade throughout the day without some kind of stopping criteria. The concepts of over trading, pointless trading, mental fatigue, and plain stupidity come to mind if anyone thinks that trading without some kind of daily goal or quota is going to make you a better trader. On the contrary. So why should a moderator be forced to practice bad trading habits just because you as a member may have strolled into the trade room at 10:56 and want a winning trade. Well, guess what. By 10:56 most good traders are done for the day! So, once the daily goal is hit and if the moderator is any good, then you should not have any problems with his moving to sim. What's important is does he continue to call winning trades? Do the tools continue to give high probability setups? Can you see his trades?

So, now you have a room you think is going to work for you. You took the trial, you signed up for 1 month. BTW, do not accept a room where you are required to sign up for a longer specified term...this is bs. If the room is a good room then there should exist the confidence that you will be so pleased and satisfied that you will return of your own desire.

Now, remember the part about trusting the moderators trading? This is where it is important that you accept that fact and live with it. You are not going to catch every trade call...no matter what room you are in. Its just the way it is. Hesitation, you coughed just as the trade was called, a bug distracted you...whatever...its going to happen that you will miss a couple. So, the bottom line is that to get the most out of any trade room AFTER you have done your homework and decided, is to take every room trade period. You homework should already have told you the performance expectation, the style of the rooms moderating trader, the basic methodology and trade setup rules, etc.

Your job now is to learn the method and the setups in great detail, practice them under guidence, and make money while you learn. I have been in some pretty crappy rooms (now I know they were crappy) and some pretty decent rooms (of course these are the one's I abandoned because I did not have my own act together).

Even if you join any trade room remember to look forward to the day when you can graduate and trade independently, consistently successfully. Find a trading buddy and go make some money!

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  #89 (permalink)
Al2010
 
 
Posts: 50 since Oct 2010
Thanks: 36 given, 10 received

Hi all,
I did not forget about my promise, I was and is a bit busy... I completed the trial with Cannon trading. I will post my logs as soon as I have time. In short, they were profitable both weeks of my trial. The first week they had 3 of 4 (I joined on Tue, not Mon) loosing days but not much, 2-5 ticks. But they recover on Fri, which was trending day and made about +$700 per contract. Lucky Fri? Maybe. The second week of my trial was what I call an easy week - volatile market, all days were trending days, the market was up and one could trade any instrument long and make a lot... It was easy to make money or to loose big. They were up more then $1000 per contract that week... I do not remember exact number in my logs.
In general they are OK. I like the format. Unlike many others they put markers on the chart in advance and clear entry lines - they have their system which I will not describe here. Their system is pretty much straight forward and easy to follow. They do not sell the indicators or methodologies. I may not agree with everything they do and how they do this but... There is very little talking which I like bcs some trading rooms like live chats - everyone talks to everyone, which is total bs to me... I will post my complete logs some day soon.

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 rptrader 
MN
 
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Al2010 View Post
Hi all,
I did not forget about my promise, I was and is a bit busy... I completed the trial with Cannon trading. I will post my logs as soon as I have time. In short, they were profitable both weeks of my trial. The first week they had 3 of 4 (I joined on Tue, not Mon) loosing days but not much, 2-5 ticks. But they recover on Fri, which was trending day and made about +$700 per contract. Lucky Fri? Maybe. The second week of my trial was what I call an easy week - volatile market, all days were trending days, the market was up and one could trade any instrument long and make a lot... It was easy to make money or to loose big. They were up more then $1000 per contract that week... I do not remember exact number in my logs.
In general they are OK. I like the format. Unlike many others they put markers on the chart in advance and clear entry lines - they have their system which I will not describe here. Their system is pretty much straight forward and easy to follow. They do not sell the indicators or methodologies. I may not agree with everything they do and how they do this but... There is very little talking which I like bcs some trading rooms like live chats - everyone talks to everyone, which is total bs to me... I will post my complete logs some day soon.

Al2010,

Thank you for the analysis. You explained everything clearly and posted actual results. It's a great review so far and will be even better when you have time to post the logs.

Thanks again,
rptrader

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 rptrader 
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Al2010 View Post
Hi all,
I did not forget about my promise, I was and is a bit busy... I completed the trial with Cannon trading. I will post my logs as soon as I have time. In short, they were profitable both weeks of my trial. The first week they had 3 of 4 (I joined on Tue, not Mon) loosing days but not much, 2-5 ticks. But they recover on Fri, which was trending day and made about +$700 per contract. Lucky Fri? Maybe. The second week of my trial was what I call an easy week - volatile market, all days were trending days, the market was up and one could trade any instrument long and make a lot... It was easy to make money or to loose big. They were up more then $1000 per contract that week... I do not remember exact number in my logs.
In general they are OK. I like the format. Unlike many others they put markers on the chart in advance and clear entry lines - they have their system which I will not describe here. Their system is pretty much straight forward and easy to follow. They do not sell the indicators or methodologies. I may not agree with everything they do and how they do this but... There is very little talking which I like bcs some trading rooms like live chats - everyone talks to everyone, which is total bs to me... I will post my complete logs some day soon.

Al,

One more quick question about this room. Do they only trade the first 2 hours of the day? And do you need to open a futures account with them to have access to the room after the trial period is complete?

Thanks
rptrader

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 soveral 
North Port, Florida USA
 
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Hi all;
I started trading futures 2 years ago just trading stocks before that end of day. I read a few books and joined
PureTick. Well I was a newbee but I did get some education from Dr. Parnassus at a great cost. I have been in Linda Raschke's room but I still found them missing trades that I would have made because of their style.
I find the best thing to do is to watch my charts. I now use a charting program that is letting me see good times to be in the trade.
Best of trading,
soveral

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 GarryM 
Tucson AZ
 
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Big Mike and I had a text/chat about me not posting enough. I told him that when I really felt I had something worth sharing, I would share. During the time since our conversation I have been studying Market Profile. Some time ago I mentioned after reading Al Brook's book, that I thought is was a good book and hopefully it helped some of you.

As most of you know, trading is a lot more than setups and indicators. Price levels intrigued me
and that has been my journey over the last year. My consistency came through really learning
Market Profile. I was not able to do this on my own, so I joined a trading room.

Although, I have learned a lot from many different services/trading rooms, my true success has come
from studying Market Profile with TheTradingZone.com. This is not a pitch for their product, I was
not trying to pitch Al's book either, it is only to help those, who like me, could not count on making
money day in and day out.

They offer a 7-day trial for $1, the membership is not cheap, but has paid for itself over and over.

We did a Market Profile short trade this morning, + 9 points on the ES. Hope this offers some
help to those that really want to have consistent profits.

GarryM

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Al2010
 
 
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rptrader View Post
Al,

One more quick question about this room. Do they only trade the first 2 hours of the day? And do you need to open a futures account with them to have access to the room after the trial period is complete?

Thanks
rptrader


Hi,
They trade all day long. As far as I can tell you can open an accnt with them and pay $119 per mo. or pay $299 monthly w/out the account.

I'm sharing my logs only for the purpose of sharing. To join the Cannon trading live room or not is totally up to you. I suggest you take their trial and make your own decision.

Attached are my trial logs as promiced - please review if interested. I was following my stop rules which are a bit different from theirs. All totals are per contract and DO NOT include slippage and commisions. Also, the viewer of my trilal logs must be aware that some days/weeks are better then others. The week one of my trial was mostly loosing but they recovered by Fri and made profits. The week two was an very trending and profitable one.
Thank you.

Attached Files
Register to download File Type: xls TradeLogES_10_05_2010.xls (19.5 KB, 193 views)
Register to download File Type: xls TradeLogES_10_06_2010.xls (21.0 KB, 88 views)
Register to download File Type: xls TradeLogES_10_07_2010.xls (21.0 KB, 65 views)
Register to download File Type: xls TradeLogES_10_08_2010.xls (20.0 KB, 64 views)
Register to download File Type: xls TradeLogES_10_11_2010.xls (24.0 KB, 48 views)
Register to download File Type: xls TradeLogES_10_12_2010.xls (23.5 KB, 37 views)
Register to download File Type: xls TradeLogES_10_13_2010.xls (24.5 KB, 41 views)
Register to download File Type: xls TradeLogES_10_14_2010.xls (23.5 KB, 52 views)
Register to download File Type: xls TradeLogES_10_15_2010.xls (23.5 KB, 98 views)
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 SawDr 
Washington, DC
 
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Cannon's website doesn't seem to mention a trade calling room...anyone have a link?

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  #96 (permalink)
 rptrader 
MN
 
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SawDr View Post
Cannon's website doesn't seem to mention a trade calling room...anyone have a link?

SawDr,

I just called the number on their website and they set me up with a trial. I would suggest doing that.

rptrader

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 traderfranco 
BRAZIL
 
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AkLio View Post
Personnaly, I've been with TTZ for 3 years now .... Greg and other moderators are very serious in the teaching of their method..... I've stared trading futures 3 years ago and honestly, I would not be in this business anymore without them ...

The method is simple and use market profile and few other indicator .... there's no black box or secret stuff .... money management, trigger point, exit point, everything is very clear....

There's no fees per month or anything like that, once you paid, you get a lifetime membership access to all the educationnal section and unlimited access to the live trading room...

You can have a free trial to the live trading room if you want to make yourself your own idea of TTZ

E-mini Day Trading

see ya

Hi,

What's TTZ website?

TraderFranco

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  #98 (permalink)
Al2010
 
 
Posts: 50 since Oct 2010
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Hi all,
Sorry I could not reply to personal messages. It is bcs only on this forum it requires Elite membership to reply and publish links..., which is total BS to me. We should really demand to lift all these "smart" restrictions from admins.
Go to Cannontrading website -> Education -> Live webinars. Or Google for - cannon trading live webinars
Thank you all.

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 SawDr 
Washington, DC
 
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I did some resarch on the trader that makes the calls in the Cannon room. He is a CTA and here is a link to his DDOC. The past performance results are so bad I have no idea why Cannon would use this guy:

https://www.levex.net/disclosure.pdf

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 cory 
the coin hunter
virginia
 
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SawDr View Post
I did some resarch on the trader that makes the calls in the Cannon room. He is a CTA and here is a link to his DDOC. The past performance results are so bad I have no idea why Cannon would use this guy:

https://www.levex.net/disclosure.pdf

remind of VectorVest they gave me top recomm from their chief strategist, I can't remember his name but it was one bad call after another. To this day I can't look at anything from VectorVest. Cater used to have a service that if it was a win mark that day green, loss marked red, after red week after red week he just closed it. Recently another service deleted his 'road to million' link after showing a bold red statement 'loss -1,440' for awhile new comer to his website wont know any better.

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