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The Day Trading Academy Marcello Arrambide (www.thedaytradingacademy.com)
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The Day Trading Academy Marcello Arrambide (www.thedaytradingacademy.com)

  #11 (permalink)
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Evanbro,


Why did say his style of trading does not fit for you ?

You are right here at futures.io (formerly BMT) we have tons os information, that is the place.


Thanks for your comments

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  #12 (permalink)
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marcelorgil View Post
Evanbro,


Why did say his style of trading does not fit for you ?

You are right here at futures.io (formerly BMT) we have tons os information, that is the place.


Thanks for your comments

Hi Marcelogil,

After I did about 6 months of simulated trading there was not something clicking with his trading style. I can't put my exact finger on it but it seemed like I was getting worse instead of better. The way he taught how to read the price action just didn't click with me so I was taking losing trades more often than I should have been. I'm being somewhat sarcastic in that I definitely didn't get worse than when I first started but it sure did feel that way b/c I wasn't able to pick up on how to read the price action the way he was teaching it.

One day I was on another trading forum and this one guy was talking about Mack and his Price Action Trading. I went to take a look at some of his videos and a light bulb went off. I understood what he was trying to teach even if I cannot correctly implement it right now. It always seemed confusing and like I wasn't making enough progress in Marcello's system. Maybe Marcello's system enabled me to understand Mack and what he is teaching. I do not know. All I know is Mack's teaching style makes perfect sense to me where Marcello's did not. I never had that "light bulb" go off when trying to trade using Marcello's teachings.

I had tried to read Al Brook's books before and I loved the concepts of price action trading but I didn't really understand what Al was trying to convey so I never ran with it.

I'm a big fan of Mack and his teachings which you can see in my trading blog on here. Marcello may be better for some people than Mack will be, that is up for them to decide. I'm not advocating one over the other. All I have done is give my opinion about my experiences with each of them.

Feel free to ask any other questions.

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  #13 (permalink)
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evanbro View Post
Hi Marcelogil,

After I did about 6 months of simulated trading there was not something clicking with his trading style. I can't put my exact finger on it but it seemed like I was getting worse instead of better. The way he taught how to read the price action just didn't click with me so I was taking losing trades more often than I should have been. I'm being somewhat sarcastic in that I definitely didn't get worse than when I first started but it sure did feel that way b/c I wasn't able to pick up on how to read the price action the way he was teaching it.

One day I was on another trading forum and this one guy was talking about Mack and his Price Action Trading. I went to take a look at some of his videos and a light bulb went off. I understood what he was trying to teach even if I cannot correctly implement it right now. It always seemed confusing and like I wasn't making enough progress in Marcello's system. Maybe Marcello's system enabled me to understand Mack and what he is teaching. I do not know. All I know is Mack's teaching style makes perfect sense to me where Marcello's did not. I never had that "light bulb" go off when trying to trade using Marcello's teachings.

I had tried to read Al Brook's books before and I loved the concepts of price action trading but I didn't really understand what Al was trying to convey so I never ran with it.

I'm a big fan of Mack and his teachings which you can see in my trading blog on here. Marcello may be better for some people than Mack will be, that is up for them to decide. I'm not advocating one over the other. All I have done is give my opinion about my experiences with each of them.

Feel free to ask any other questions.


" Thank you very much your comments.
About Mack´s method, yesterday i bought his manual, i am really liking the reading. Let me know ii you are available to discuss about it "

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  #14 (permalink)
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You are very welcome. Good to hear you are enjoying the manual. He also has a Youtube channel where he goes over the days price action. I don't want this to get off topic from the OP's original question so feel free to PM me any ideas. I'm in the learning stage just as much as you so it's always nice to have friends with similar goals in your journey.

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  #15 (permalink)
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Hi Joabucks,

From your posts about Marcello and his system it seems you are leaning towards him being a scammer. That is fine because I'm not trying to convince you otherwise. All I have done is given my opinion and experience from the time I spent in his classroom. If I felt I was ripped off then I would freely admit it and would be much more vocal than I have been. I would warn everyone I could not to buy his system but I do feel his system works for him even though I decided it wasn't for me. In my previous post I did address some of his corny/shady marketing tactics and some things he does that I don't agree with. If I had to do it all over again I obviously would not spend $3k on his course but I do not feel that I was ripped off from what he provided. (There is another live trading course I was in that I feel is a ripoff but that is for another discussion)




joaobucks View Post
The guy is not a scammer... but what would you call someone who posts videos with "trade" arrows that he pretends to be his trades?


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My experience with the Day Trading Academy

I first joined DTA in August of 2012 after being laid off. I have been studying the markets part-time for the previous 5 years and thought I had a good grasp of things- but that was all sim and not real-time in the markets.

I had previously been trying to master PATSmethod and not getting anywhere so I joined DTA in desperation. I joined DTA and thought Marcello was really good - I was impressed - daily mails with questions and charts were answered quickly. I thought I was getting awesome support.
The course itself was good- I thought the assignments were also a good way to review the material.

The highlights of the course for me were: Momentum and HTS. HTS being a non-subjective method to approach the markets. This is where things started to break down.

HTS provided a method to consistently take trades and really helped me deal with the emotional side of trading. Yep, you take the trade and get run over but you do it over and over and you will eventually see a slight edge. This was a valuable experience for me and one preached by the pro members of being consistent with your trades. Huge positive lesson for me. The negative is that the rules for HTS kept changing once moving to the advanced level- The rules were suddenly changing from being a valid HTS trade to a 'pro trade'. Once the pro trade was introduced your winners turn to losers and losers are still losers... for me anyway argh.

I recommended DTA to a good friend - He joined and unfortunately did not have the same experience I did. The daily response to e-mails turned to once a week and at this time I was booted out of the training because I did not want to pay additional monthly fees. Had I known about these monthly fees initially I probably never would have joined- I asked before signing and was told not to worry about it and it would likely be a long ways off (years). Anyway, I wanted to help my friend but could not because I was not in the class to view what was being said. This is my biggest regret about DTA- recommending it to a friend.

I really bought into the concept Marcello was pushing about wanting to develop an army of like minded traders to exchange and test ideas. Unfortunately this idea was pitched before the realization that it would be a constant fee coming from my wallet each month to Marcello.

I know this probably sounds negative - That is not my intent. A good friend of mine is a hedge fund manager- We meet regularly and he tests me. He indicated that he saw a big improvement in my trading after the DTA course. In our tests he would question what I was looking at to make my decisions. He made me realize I was not looking (or needing) anything on the bottom of the chart ( DTA indicators). I was using Momentum and the risk reward of HTS.

Today I have reached a level of consistency that many dream of. My friend the hedge fund manager is truly amazed. The bad news is the consistency came after abandoning DTA and re-applying myself to PATS and adding Jigsaw. However - The momentum and psych lessons of HTS were valuable and something I use today. If nothing else Momentum will keep you from counter trend trading and that is where many people lose their shirts. So that may be worth the price of admission for you.

Here are the strengths of the course in my opinion:
Good for basic intro to the Emini- SP futures market
Good Basic Ninja features
Momentum
Psych in HTS and the pro trade trainers. Actually in hind sight the relationships made with some of the pro trainers was worth the price for me.

Weaknesses:
Support and resistance - You only get half the picture
All the indicators provided are useless imho BB/macd/fyl they are all lagging indicators - like driving a car using your rear view mirror. Everything you need is in price.
Marcello is resistant to change and to new ideas.
No Real posted P&L
I told Marcello I could improve HTS by over 60% and he had no interest. I showed him a tool that I used that actually helps with HTS and he laughed.
So for folks struggling with DTA here is my suggestion that you can put to the test to improve immediately:

Visit Day Trading ? Price Action & Futures Day Trading Software From Jigsaw Trading go to the bottom and read the book How to survive day trading.
It is one of the best realistic views on the market and the industry I have seen. If you want to use DTA I believe by applying this product you can improve your edge greatly. I have no financial interest in this product btw. Try it for 2 weeks if it doesn't work for you no cost. The owner Peter is
very helpful.

FYI My equity curve is posted here it has since doubled:
The Best Part | Jigsaw Trading
but a few stupid mistakes and it can all go away...

Trading is a fickle business Each day I go in risking capital- I still make mistakes. I know my method works and some days my execution just plain sucks. The big difference for me now is that when I make a mistake I realize it and at the end of the day (knock on wood) end up positive.

Bottom line- Everything you need to be a successful trader is here on Big Mikes and time in the market.

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  #17 (permalink)
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Day Trading Academy Review

Friday August 30th I had met my monthly goal so decided to take a retrospective view of how I trade
today and where I have come since abandoning DTA. This post hopefully will provide details I alluded
to in my previous post in how if you are using DTA you can add a tool to improve performance.
Red circles are short blue are long.

Here are the DTA trades for today- Using Marcello's examples of trading 10 contracts. I mentioned earlier that
in my opinion Marcello ignores important support and resistance areas. Here are the DTA trades and results
as I saw them today:
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Better make an appointment with a cardiologist before you trade this!

During the same time period these are some of the potential trades using Mack's system:
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We all know that it is easy to make claims after the fact, Also
I made mention of the tools that I use to improve performance in my previous post.
I went ahead and recorded this time session Friday and documented the valid trade areas
how they setup and you can watch (real time) how I use the mentioned tools.

Here is the chart with the video index times included:
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Here is a link to the live recorded session for this time period.
Whenever I hit the counter reset button i am looking for a trade.

Hopefully this is enough information to allow you to make an informed decision regarding the Day Trading Academy.


08-30 ES PATS TRADE Setups - YouTube

I hope this post helps folks save time and $$

Please also note that I do not consider myself a trading expert - I am not available to
consult nor am I affiliated with the either Mack or Peter other than a great appreciation for the
help they have provided me to getting to my current state of trading profitably.

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  #18 (permalink)
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Bwhahahahahahah! Welly, I love your comments in the DTA charts....... bwwhahahahahahahahhahaha

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Quarterly update on DTA system for today

Here is another comparison of DTA vs the strategy I use today. It appears that these posts are helping the
DTA students because Marcello's blog now contains recaps of 'Master traders' that have adopted the ideas presented since posting here You can spend $3000 or more to let Marcello play with the little animals or you can spend $100 with Mack and learn how to trade. IMHO of course.

With Marcellos example of trading 10 contracts ( yea right) His method would have a loss of $385 (w commissions)
PATS would be a net profit ~$3500 - Just sayin'.
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Last edited by welly192; November 21st, 2013 at 12:37 PM.
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Looks Like the DTA boyz are wathing this thread.


Just received notifications from DTA that I have been invited to attend a seminar they are hosting to learn these great new techniques! Some though I probably will not qualify for. Don't get me wrong I could care less about the Day trading academy. I care that people will be wasting their time and $$ ( like I did) for a system that will not produce profit. You can learn everything you need right here for free ( or nearly so). Looks like you can now pay him $3k for the base course and another 2k for this great seminar + travel to learn what you can get here for the price of an elite membership.

Your choice.
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