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JPJ Trading Review Market Profile (www.jpjtrading.com)

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  #51 (permalink)
Austin, TX
 
 
Posts: 82 since Nov 2011
Thanks: 2 given, 9 received

I have been in JP's room 6 weeks and am starting to have profitable days. I trade real cash, not sim. I have been trading for 1.5 years and have blown out my account more times than I can remember. I have been in several rooms, 3 of which I do recommend. The thing about me finally starting to make money in JP's room is part JP and part timing. I think I just finally reached the point where I was ready to make it. I don't know. I haven't made it, as yet. Just starting to have profitable days. That is a first. Anyway, I saw posts saying stuff about JP that in my experience are not true.

One:
someone said he goes off mike and calls a trade, albiet AFTER the market has moved away. NOT TRUE IN MY EXPERIENCE. He calls out an area several minutes BEFORE it gets there, then he explains what he will be doing, then he goes off mike and takes the trade. You can hear him bascially scream it out. He sounds like what I figure a floor trader sounds like. It bothered me, at first, as it is grating to hear, but once I realized he really is on the trade and the way he sound is pretty indicative of that, lots of emotion and intensity, well, it actually comforts me now. You know? Scares the living crap out of me to be on a trade. All this bunk about ignore your emotion, control your emotion. That is crap. Honestly. It is like saying hold your breathe. Ain't gonna happen for long. Our emotion is part of us, like breathing. Actually, breathing is somethign I have been taught recently that has helped. Anyway, back on the subject of calling the trade. JP calls them in advance and then goes off mike cause there are several people in the room that get offended at his cussing. Me, I woudl prefer to hear the cussing, as I think that is real and valid feedback of how JP is processing his thoughts and emotions while in a trade.

Two:
My opinion, fund an account, have the broker put a loss limiter in place and go trade. You won't learn a thing in simming that will really apply in live, losing your rear trading. The fact is, I can sim and make tons of money. But, when I put on a real trade with my live account and it gets down 10-15 ticks, that is when reality hits. My emotion and my decisonmaking kick in. To me, that is trading. All this other stuff about simming and backtesting is only very limited useful. The real thing is having a live trade on. Maybe I am just a throw em in and they'll learn to swim kind of guy, but to me, that is reality and learning to trade in reality is the key.

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  #52 (permalink)
Wash DC
 
 
Posts: 66 since Sep 2011
Thanks: 8 given, 25 received


zer0 View Post
@Frank Ricard

Is this an underhanded accusation that I'm a shill? Let's not mince words. Once I'm clear on your intent, I'll become equally clear on what I think of it.

Peter Steidlmayer now has a new, "better" method, which he wants to sell books, software, and the platforms that use it. He is doing this by discrediting his old method, which (an assumption here) he probably no longer profits very much from.


Just an observation. My post was not directed at you in any way, shape, or form.

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  #53 (permalink)
Chicago, IL/USA
 
Experience: Advanced
Platform: CTS T4/Sierra Chart
Trading: Futures
 
zer0's Avatar
 
Posts: 139 since Jun 2011
Thanks: 49 given, 190 received


My apologies then. Thanks for clarifying.


Frank Ricard View Post
Peter Steidlmayer now has a new, "better" method, which he wants to sell books, software, and the platforms that use it. He is doing this by discrediting his old method, which (an assumption here) he probably no longer profits very much from.


Just an observation. My post was not directed at you in any way, shape, or form.


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  #54 (permalink)
Charlotte NC/USA
 
Experience: Intermediate
Platform: Ninja
Trading: ES
 
Posts: 1 since Nov 2011
Thanks: 0 given, 1 received

I am a grandfather in JP's room. Simply put, JP is an excellent teacher, has very clear and defined MP set-ups that provide an edge. I have become consistently profitable with JP's help and would highly recommend his room. I have received value 100x the price of membership.

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  #55 (permalink)
California - USA/Rio grande do sul-Brasil.
 
Experience: Intermediate
Platform: tradestation, ninja trader
Trading: Futuros
 
Posts: 88 since Apr 2011
Thanks: 851 given, 23 received

Enjoy................J. Peter Steidlmayer: In step with the markets

https://www.cmegroup.com/market-data/datamine-historical-data/ldb.html

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  #56 (permalink)
new york, ny
 
Experience: Intermediate
Platform: TradeStation
Trading: ES
 
Posts: 2 since Jul 2011
Thanks: 1 given, 1 received

After squandering much time & money in the chatroom wastelands, I found a couple that are honest & decent and JP's is a stand out in my opinion. As for a previous poster who claims having documented his trades for 3+ years & not made any money, one can only wonder how foolish that might be to continue doing so for such a period of time!!!

JP's methodology is not for the 1-2-3 lot traders which is the bulk of the trading public out there - but if you can trade atleast 5 or more lots, you WILL make money - I speak from personal experience trading live - not SIM. Do all of JP's trade set ups work all of the time? Of course not - if anyone claims theirs do, run in the other direction... however, when they fail, the risk is low but when they work, they deliver pay days... as Dalton, the guru of MP, says : trade location is the best form of risk control.

As for Steidlmayer, he may well have been the genius behind Market Profile but he is by no means a genius trader... furthermore, since he did not really monetize MP, he's now trying to do so with this latest "invention" of Volume Strips.

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  #57 (permalink)
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

Free Week starting April 30.

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  #58 (permalink)
Keller, TX USA
 
Experience: Intermediate
Platform: Tradestation, NinjaTrader
Trading: YM, ES, CL
 
Posts: 42 since Sep 2010
Thanks: 1 given, 38 received

>> You would also lose voice as he was entering a trade,, I was in the free trial today just to see if had changed his ways but I saw the first trade off the open (open range trade) the voice went quiet,, until all of a sudden I heard' I am short 42.25',,, price was at 41.25 by that point... funny cos it say's on his site all trades are called out before hand.... mmmm may be not then...lol


Haha, that happened today - first losing trade called out clearly, 2nd winning trade 'internet crapped out'...

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  #59 (permalink)
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Jigsaw Trading's Avatar
 
Posts: 2,977 since Nov 2010
Thanks: 823 given, 10,301 received


aircal View Post
>> You would also lose voice as he was entering a trade,, I was in the free trial today just to see if had changed his ways but I saw the first trade off the open (open range trade) the voice went quiet,, until all of a sudden I heard' I am short 42.25',,, price was at 41.25 by that point... funny cos it say's on his site all trades are called out before hand.... mmmm may be not then...lol


Haha, that happened today - first losing trade called out clearly, 2nd winning trade 'internet crapped out'...

A bit harsh in my opinion....

He called a short @ 51 & I heard it well enough...

Now - even if it was 50 by the time you got the message, what about the fact price then went 49,48,47 - all the way down to 34? No credit due for that?

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  #60 (permalink)
Aurora, canada
 
Experience: Beginner
Platform: Ninja
Trading: Futures
 
Posts: 19 since Feb 2011
Thanks: 5 given, 14 received



aircal View Post
>> You would also lose voice as he was entering a trade,, I was in the free trial today just to see if had changed his ways but I saw the first trade off the open (open range trade) the voice went quiet,, until all of a sudden I heard' I am short 42.25',,, price was at 41.25 by that point... funny cos it say's on his site all trades are called out before hand.... mmmm may be not then...lol


Haha, that happened today - first losing trade called out clearly, 2nd winning trade 'internet crapped out'...

I have been in JP trading room for a while and honestly he has been getting lots of internet issues with his provider......he does call levels and setups, he will explain what levels he's looking at and why.....in my opinion this is the most important for a trader "WHY" then when it comes to this level you can execute....

thanks
soccerdude....

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