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Anyone watched Mentors Mike movies of Pacific Trading Academy


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Anyone watched Mentors Mike movies of Pacific Trading Academy

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  #1 (permalink)
 jake1102 
Panama
 
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HI there

Anyone watched Mentors Mike Daily trading movie. He seems to be doing very well with his trading method.
Would like to hear some comments on his movies

Here is the link if you want to check it out

https://ptausa.com/pacifictradingacademy/blog/mentor-mikes-market-movie/



Appreciate the input

Jake

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 Peter2150 
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Not sure how you can say he is doing well. I watched part of one movie and he is using market replay data, so he already knows what the day was like. Anyone can excel if they know ahead of time where to enter and exit.

Unfortunately that puts no money in an account.

Pete

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 jake1102 
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Thanks Pete

So you believe that He is already aware of the results when He does these movies ? I hope that is not the case.
He one on best mentors and he claims he has trained several students to successfully do day trading.
The charges around $5,000 for the training . Anyway I found interesting his peeling strategy. I tried to re do his indicators and sim trades his approach. Works well on the 3 minutes chart . There is good percentage of winners although the losers tend to wipe out the gains. Not sure how He pulls off so many winners however and maybe I am not handling the losses correctly.

Jake

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 Peter2150 
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Assuming you don't buy it, to get to replay you have to have the charting program run. He was clearly replaying data.

Save your $5000 and learn here, it is better and free.

Pete

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  #6 (permalink)
 jake1102 
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Thanks for your reply. Understand that you are skeptical about this method as He is using replayed data.
However it is not easy to find a good method. Being an elite member what day trading method would you recommend in this forum ? FYI I have not signed on with them. the Instructor actually refused to accept me as an student when I asked about a guarantee. He got upset and then in a later emails said I have a deafitist attitude and He only accepted positive students. . So go figure !


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 Victory Trader 
LA, California, USA
 
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...trading that many contracts is crazy...Not sure what he is trying to show by trading over 100 contracts in sim/replay mode. The system look interesting and very do-able to put together... Many sharp minds here at BM's

Does anyone know how to combine different time frames on to one chart? Thanks


Peter2150 View Post
Not sure how you can say he is doing well. I watched part of one movie and he is using market replay data, so he already knows what the day was like. Anyone can excel if they know ahead of time where to enter and exit.

Unfortunately that puts no money in an account.

Pete


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  #8 (permalink)
 jake1102 
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Hi there

This process started with 3 contracts and after every $1,000 in profits he increased one contract . So He has grown this sim account very well. Read his earlier posts . However all this was done in replay mode. I did find the Peeling strategy very interesting. ( Taking the first target at 3 ticks ) However the stop loss is not very clear I guess it is the Parabolic Sar indicator. Let me know if anyone is up to recreate this template. It is ninjatrader.

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 SeeTrader 
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Just when you thought you've seen it all.....

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 Peter2150 
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jake1102 View Post
Thanks for your reply. Understand that you are skeptical about this method as He is using replayed data.
However it is not easy to find a good method. Being an elite member what day trading method would you recommend in this forum ? FYI I have not signed on with them. the Instructor actually refused to accept me as an student when I asked about a guarantee. He got upset and then in a later emails said I have a deafitist attitude and He only accepted positive students. . So go figure !


ROFL. That is a riot. You could make any rule you liked, and make it work, if you use replay data. One of the things I work with is a simple approach using Hull Moving Averages. Do a search on Hull. There is a thread on it.

The best,

Pete

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 ironman07 
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Wow after looking at his video I would run fast. Does he actually place trades in a live market? Will he show any account statements? 148 contracts in a sim account--- talk about horrible trade management.. One bit of bad news and there goes the stop and a real call from your broker. Makes you wonder why hes no longer practicing law

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 jake1102 
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I am sure He is not really trading the amount that many contracts. He is just trying to show the merits of his trading system.

What they offer is a mentor to teach you trading and not exactly a trading method package. They are expensive and I said in an earlier post they do not take on students that fast. I guess the best way to see how good he trains is to o talk with former students to see how they did with the mentoring and if they are making money after taking the training. I believe they do not give out that information. So its a crapshoot

Day trading is not easy and they is no system that will make money always . It is a skill learned with practice, discipline and money management and understanding the markets which are always changing.

Believe me I have checked out a lot of systems and so far My major problem is consistency to make money every day.
There are days that I make money and then lose it back. Roller Coaster all the way !

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 jake1102 
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Hello All


Here is the link for Mentors Mike last movie and comments. In addition he added some more webinars, where He explains his methods. He uses Ninja Trader and Indicators to take his trades with the use of Elliot wave theory and the Delta turning points.

I did find the method interesting and will try to re-create this indicators and sim trade to see how I do.
He does uses a peeling strategy with a 3 tick profit of the first target and there on 8 ticks , 13 ticks and 21 ticks for further targets. The stops are based on changes in the Parabolic Sar in the 1 minute time frame. He does say that his winners are nearly 90% however a couple of stops can hurt the profits. The best choice is to take trades with the trend and alinement with the 3 moving average. Then comes divergence trades and finally counter trend trades based on turning points and Elliot wave patters with turns in the MACD and Stochastics, I kind of figured all this watching the webinars.




Any way here is the link of his last post and past webinars if anyone is interested.

Mentor Mike?s Market Movie for 6/29/12 | Pacific Trading Academy

Will appreciate any comments or input on his approach to day trading.

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 Peter2150 
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Quoting 
In Mentor Mike’s Market Movies I re-trade about 8 hours of market movement in the S&P Emini in 20 to 30 minutes. When I see a trade setup, I pause the accelerated data feed, identify the entry signals and place the trade on Ninja Trader’s demo platform. Then, I restart the data feed and...

That is from his web page. I'll say it again. Watching him trade on replayed market data is absolutely worthless.

The guys in the Rockwell trading room, actually trade a live market account real time. You see there wins and losses. That has value.

Pete

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 Trader Duck 
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jake1102 View Post
HI there

Anyone watched Mentors Mike Daily trading movie. He seems to be doing very well with his trading method.
Would like to hear some comments on his movies

Here is the link if you want to check it out

Mentor Mike Bridges' Daily Blog | Pacific Trading Academy



Appreciate the input

Jake

I have had two experiences with Pacific Trading Academy. One positive and one VERY NEGATIVE. They have a hand full of mentors that teach very different methods.

(1) The BAD:
Run Away from Pacific Trading Academy!! The sales promotion is a SCAM.
I attended a webinar by Glenn Thompson and got a couple of sales calls from Peter Newman of the Pacific Trading Academy. It started out, "You have been selected as one of three students for a special group. We will pay you $5,000 to study with Glenn Thompson. All we want you to do is post your results on our site." That was the BAIT. I said, "Well if it doesn't cost me anything, OK." Then comes the SWITCH. Apparently I would pay tuition first, and then I would make it back in the market with the knowledge I get from them. WHAT A SCAM. It starts out "We will pay you." and ends up "You pay us first, then you make the money back in the market. I challenged him after the bait got switched, and he got rude and offended me, so I hung up. Maybe there was more, but my instincts tell me this is a SCAM !!!!! This rating is for the sales pitch, not the method being taught. I wasn't that impressed with Glenn Thompson's presentation. I know enough about Fibonacci to disagree with some of the things he said. I'm not interested in the method. But, Peter Newman and the sale call was ABSOLUTELY A SCAM!!!!

(2) The GOOD: Ken Chow's webinar was among the top 10 I've seen in three years. I didn't want to buy his CD's, but they dropped the price so low, and I talked to a client who was doing well, so I bought it. I haven't been through all the CD's yet, but I can see in the charts that the method does work. The call I got was from Susan Weyle who was always polite, and my instincts tell me she was always truthful. I was told their client success rate was very high. Maybe I'm naive, but I believed her. The method Ken teaches is simple, and I think that is why people do well with it. I've paid money for three methods. The Nexgen system is so good, Ken Chow's still sits on the shelf. But I thought it was good enough to buy at the reduced price.

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 jake1102 
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Hi there

First of all thanks for your reply. Appreciate your feedback. I signed up finally with Mentor Mike and took the mentorship for 18 sessions. I have to say although expensive it has taught me to trade with confidence.

Mike is planning to start a live day trading room in Jan next year if we survive the Mayan prophecy ( Ha Ha )

I do have Kens course and I find it interesting buyt basically fib trading method.

If you do take the mentorship you have to trade to recover your investment. PTA will always ask for money funny that they did this with you. Did not like that they did that.

Anyway Trading is always a risky business and no one has a method that can predict price all the time. My opinion is look for something that works for you and stick with it no matter what. Control your risk and you will do fine.

Let me know if you need anymore info. Send me an email to jaswani@cableonda.net

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 Trader Duck 
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jake1102 View Post
Hi there

First of all thanks for your reply. Appreciate your feedback. I signed up finally with Mentor Mike and took the mentorship for 18 sessions. I have to say although expensive it has taught me to trade with confidence.

Mike is planning to start a live day trading room in Jan next year if we survive the Mayan prophecy ( Ha Ha )

I do have Kens course and I find it interesting buyt basically fib trading method.

If you do take the mentorship you have to trade to recover your investment. PTA will always ask for money funny that they did this with you. Did not like that they did that.

Anyway Trading is always a risky business and no one has a method that can predict price all the time. My opinion is look for something that works for you and stick with it no matter what. Control your risk and you will do fine.

Let me know if you need anymore info. Send me an email to jaswani@cableonda.net

I am really glad to hear a good report about them from you. I have always thought well of Ken Chow.
Maybe their sales pitch needs to be cleaned up a bit. There was a post on Elite Trader than was very unfavorable.
This person said they renigged on a money back offer. Here is some of Wrayco's post:
"...and if I wasn't happy they would refund the tuition...When I asked for a refund and cancellation, they renigged on their promise, tried to stall and put me with a new mentor, give me another month....my secand experience was awful and still haven't received the refund."
I would say that they have teachers who are good, but the sales person will lie to get a sale.

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 wavesurfer 
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Hello guys and gals,

My name is Sam. This is my first post on this lovely forum even though I've been an elite member for a while. I'd like to thank Big Mike for it. I've decided to dedicate this first post to Mentor Mike Bridges. I have recently become a student of His. I find this guy the greatest a mentor can be. His course has added a lot to me. I have to admit that I have good knowledge of elliott wave analysis from before, yet I've learnt a lot from him too. I am still in my first 2 weeks in the course, and I'm already doing great on a sim account. I'll keep you guys posted as things progress. Thank you and I wish many ticks and pips

Sam.

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 wavesurfer 
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Hi guys,

As I mentioned in the previous post that I've started my course with Mentor Mike Bridges. And I've promissed to update you, here I am. So far I'm doing fine on the sim account using the same exact capital and contract size that I intend to use on the live account. Mentor Mike trades only S&P, but I've tried his method on crude oil and it worked. I have posted S&P and CL trades from 3/20/2014, and S&P from 3/21/2014. Enjoy.

Thanks and I wish you many ticks and points

Sam, the wave surfer.

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 BeachTrader 
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wavesurfer View Post



Hi guys,

As I mentioned in the previous post that I've started my course with Mentor Mike Bridges. And I've promissed to update you, here I am. So far I'm doing fine on the sim account using the same exact capital and contract size that I intend to use on the live account. Mentor Mike trades only S&P, but I've tried his method on crude oil and it worked. I have posted S&P and CL trades from 3/20/2014, and S&P from 3/21/2014. Enjoy.

Thanks and I wish you many ticks and points

Sam, the wave surfer.

36 Contracts? Is that what you plan to trade when you go live?????

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 wavesurfer 
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Yes, why?

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 hooshoo 
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good luck sam ..nice results...just don,t hurry in going live..at least 2 months forward test is minimum , concerning the contract size i guess MM is yours ..we don,t know how much is the initial balance but u can tell from how much DD u get at the end of forward test period .. ..just my 2 cents...following...

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 BeachTrader 
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wavesurfer View Post
Yes, why?

Just that most folks don't start off trading 36 contracts when going live on a new system. And while you can get filled that many on the ES live, the CL is more thinly traded so you would have a difficult time getting fills on 36 contracts when live on that instrument. Not sure if that is how many you planned to trade on the CL.

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 BeachTrader 
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@wavesurfer

How is your trading going? I hope you are doing well!

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 wavesurfer 
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Yes buddy, it's doing very well, thanks for asking. How's yours?

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 BeachTrader 
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wavesurfer View Post
Yes buddy, it's doing very well, thanks for asking. How's yours?

That's good because I was curious if the Mentor Mike stuff is still working well. I have used vendors in the past where things go well then not so great. Consistency is super important IMO.

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 wavesurfer 
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Actually I'm in my 1st month still. Hopefully it'll stay good

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 25delima 
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wavesurfer View Post
Actually I'm in my 1st month still. Hopefully it'll stay good

Hi wavesurfer,
how is trading with mentor mike's indicators? profitable?

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 wavesurfer 
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25delima View Post
Hi wavesurfer,
how is trading with mentor mike's indicators? profitable?

Hi. Thanks for your question. Yes it is actually good so far. It needs a lot of practice though. But it is an effective method

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