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simon jousef's GTR trading room


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simon jousef's GTR trading room

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  #1 (permalink)
 delta6 
Milano Italy
 
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Anybody is in the simon jousef's GTR trading room?

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  #3 (permalink)
 rwieland 
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been a member for 3 to 4 years always thought simon was good trader. I was not able to grasp the trading. however in the last 3 to 5 months he has teemed up good traders. it has been very impressive i work a lot but when i am there i been able to follow thier trades and do well. any questions wielandrhotmail.com

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  #4 (permalink)
 jerryjerry 
GARLAND TEXAS
 
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the globaltraderoom run by simon in my opinion the best room it is in the retail trading world .simon makes about 100 plus ticks a day in the room and he always shows his dome and he always trade a live account the trades are easy to follow as he will call out the trade a head of time and he will allso tell you when he is about to get out .if you would like to know more drop me a message

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 mfbreakout 
BOSTON, MA
 
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rwieland View Post
been a member for 3 to 4 years always thought simon was good trader. I was not able to grasp the trading. however in the last 3 to 5 months he has teemed up good traders. it has been very impressive i work a lot but when i am there i been able to follow thier trades and do well. any questions wielandrhotmail.com



If not able to grasp trading in 3-4 years- may be the method is not suitable for your style.

It definetly does not suit my personality.

Tight stop loss - in my experience is difficult to implement over a long term basis since in that arena, we try to

compete with algos, HFT without even realizing it and get die by 1000 cuts.

This does not mean this type of trading can not be successful for some traders.

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  #6 (permalink)
 estrade 
Austin/TX
 
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confirm that you can get a refund if you don't like it

I was sorry I signed up as soon as I saw when I was getting.

He makes a lot of 600 dollar sales.

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  #7 (permalink)
 jerryjerry 
GARLAND TEXAS
 
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estrade haved you been in the room .he has a free room every truday so that you can see first hand what is going on plus all you have to do is go to the global trade room and view their track record for the last six months .every trade is posted that was given . simon trades with more than 3 contracts most of the time but on the results page he only counts 3 contracts you dont have to unstand what is going on all you haved to do is follow the trades and you will make money that is all that counts .it is a trading room not a learning room

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  #8 (permalink)
 jerryjerry 
GARLAND TEXAS
 
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first of all i have been a member of the gtr trade room since june 2013 .when it was $4300 for the life time memship to the members area and access to the trade room for $199 a month it has since gone way up but you get what you pay for all i know is that i make money every day i am in the room and that is all that counts to me . i dont care if who believe me or not . i am making money so that is all i care about

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  #9 (permalink)
 hiyall 
new york city + ny/usa
 
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I am a paying student. This is the best investment that I have made in my development as a trader.

But, YMMV so go to youtube and search for NOFT, Global Trade Room, Simon Jousef.

would be an example of their approach.

This approach was needed by me. in order to advance from break-even, hit or miss, trader to one who is consistently a winner.

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  #10 (permalink)
 jerryjerry 
GARLAND TEXAS
 
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uzzo .the membership is standard and premium th e standard is $7300 and the premiun is $9850 the standard you get to use the trade room for $199 a month and a few of the preprietary incators the premium you get coaching .the swing trade room where he calls swing trades by text or what ever choice you want , 12 months to the gtr. room and many others feathers. yes any one can use the room all the trades are called ahead of time so you will have pently of time to get in . he all so tells you when to get out , and he uses smart stops which is about 3 to 6 ticks which is rally hit but you will have to see for your self here is the link address. Global Trade Room - Live Trade Calls

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  #11 (permalink)
 leledc 
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Someone can go more in depth with market profile usageusing MP for stoploss and how he teaches rejection and continuation?I have my vision but i 'm interested in how he teaches this.Thanks

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  #12 (permalink)
 BeachTrader 
San Diego
 
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jerryjerry View Post
uzzo .the membership is standard and premium th e standard is $7300 and the premiun is $9850 the standard you get to use the trade room for $199 a month and a few of the preprietary incators the premium you get coaching .the swing trade room where he calls swing trades by text or what ever choice you want , 12 months to the gtr. room and many others feathers. yes any one can use the room all the trades are called ahead of time so you will have pently of time to get in . he all so tells you when to get out , and he uses smart stops which is about 3 to 6 ticks which is rally hit but you will have to see for your self here is the link address. Global Trade Room - Live Trade Calls


To me the price seems very expensive compared to other rooms that offer lifetime membership (TTZ, JPJ Trading, Valhalla, even Felton). I visited the room a couple of times and while I saw good trades, I found Simon unclear in some of his calls and also annoying with his weird cheer leading style of grunting when he is in a winning trade.

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  #13 (permalink)
 Big Mike 
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jerryjerry View Post
first of all i have been a member of the gtr trade room since june 2013 .when it was $4300 for the life time memship to the members area and access to the trade room for $199 a month it has since gone way up but you get what you pay for all i know is that i make money every day i am in the room and that is all that counts to me . i dont care if who believe me or not . i am making money so that is all i care about

I care.

All of your posts in three years have been about this vendor, and your posts read like an advertisement.

One could easily assume you are the vendor and this is self promotion.

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 sharmas 
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I braved it and attended the session

Very confusing, One guy is calling short and other saying lets go long...get ready for long. entry is xxxx okay thats a small loss, lets go long now.

Not something you would learn from or to understand how they call their entries and method is difficult to ascertain.

Sharmas

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 jerryjerry 
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Big Mike View Post
I care.

All of your posts in three years have been about this vendor, and your posts read like an advertisement.

One could easily assume you are the vendor and this is self promotion.

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i am sorry you feel that way, how can you asome who i am when you do not know me i say what i say about the gtr room because it is what i use . i dont trade for a living i trade for fun it is a hobby of mine because i do not have nothing to do all day , because i do not need to work. this is who i am

LKL: Free after 22 years

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 Big Mike 
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jerryjerry View Post
i am sorry you feel that way, how can you asome who i am when you do not know me i say what i say about the gtr room because it is what i use . i dont trade for a living i trade for fun it is a hobby of mine because i do not have nothing to do all day , because i do not need to work. this is who i am

LKL: Free after 22 years

Because I am the administrator of the site, and I see the patterns and behaviors of vendors that disguise or lie about their identity in order to promote their products all the time.

Your posts read like advertisements, including costs and all the "upside" of how much money is being made, with no discussion of the risk or negative views on this vendor.

You also continue to post here even after you've already made your "review", responding to people as if you were the owner of the trading room.

It is all highly suspicious and of course if true you are in violation of our forum rules and will be banned permanently.

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  #17 (permalink)
 toulouse-lautrec 
Europe
 
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I joined them twice for the free session they offer on a weekly basis.
There were two chaps in the room (Bob and Sandy?) discussing trades and some other topics. Almost like a radio show ... The older guy almost sounds like Lahey from the Trailer Park Boys ....

I only listened for 1 -2 hrs each session and was not able to always pay full attention, so take my words with a grain of salt.

From what i saw / heard they were not trading exactly in the same way. One of them basically used a trendline / box breakout method. The other one seemed to position himselves with limit orders around key profile levels / SR levels.
The trendline guy showed his charts and he was watching three different markets all the time.

They were transparent and upfront about which trades they took, on some occasions i saw the chart trader.
As far as i could tell they were making money (sim or live, i don't know).
The trades i saw were apparently executed with 3 contracts, taking off 2 contracts at just a few ticks (3 ticks i think i saw).

What makes me very cautious is when people discuss continuously about how much money you can make theoretically. This for me is always a red flag. It usually starts with some small number, which is supposed to make it sound achievable ("making $200/day should be easy....") and then all of a sudden numbers become bigger and bigger. Then they said if you'd make $200/day consistently any hedge fund would pay you $10M/year to trade for them... yeah, right!

There was a lot of boasting about how they can explain every tick in the market at any time and how they could even teach a monkey how to trade. They also kept mentioning how good Simon, their partner (not present) is, how he would identify turning points to the tick and take huge runners... (how lucky they are they have him and he is not actually trading for one of these hedge funds making millions!)

In summary, from what i saw (and again i cant say i kept watching very closely) it seemed to me that their method revolves around scraping a few ticks off at high probability inflection levels, immediately taking 2/3rds off to reduce risk and hoping to catch the occasional runner.
If it work for them, that's fine, there's worse out there. For me personally this kind of risk management is problematic.
Some may be able to pick up themselves how to trade like that, some may want to pay someone for the service to be taught.

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 lsubeano 
hollywood
 
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I saw a recast of Kai Whitney with Adrienne Toghraie...it looks like they are doing free trials of the room....I may check it out.

It seems a little 'too good to be true' style trading, concerned with volume profile and following order flow.

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 Eubie 
Prague, Czech republic
 
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Hi,

my two cents ... I was in the room for about 6 months 2 years ago.

Cons:
  • Inconsistency of thought (one could call it lack of objectivity) - you're told in all videos and promos that everything is explained to detail and clearly. Then, lo and behold, sometimes the same thing is a short, sometimes its a long. Trading isnt easy to explain and the conditions are always different, but then why say that all presented trading rules are clear.
  • Too much risk (this is subjective to what trades I seek) - trades are done in multiples of 3 contracts with the same stop (e.g. 6 ticks), with targets being 5 ticks on two contracts and the last is left as a runner. As soon as the smaller targets are reached, the room operator will have made enough money for a "risk-free" trade where he goes for bigger profits. My problems with this is that the first two contracts have risk:reward < 1 which goes against all I feel is right.
  • Occasionally, "less solid" ideas are being presented as something that really works. If the room operators knew that network packets can be lost/arrive in different order that they were sent in, they would see that relying on EXACTLY X contracts being bought/sold on a price, but not X-1 or X+1 contracts, is an illusion of having a real rule.

Pros:
  • Students can ask questions. The answer will be understandable depending on the similarity of the student's and room operator's thinking (that was my problem), but Simon is very helpful and willing to discuss.
  • Trading is done with REAL money and all students see it. You see all the charts, orders, etc. in real time. No editing, no delayed charts, etc.
  • Access to educational videos as given for a lifetime, including updates.
  • The trading day, in the vast majority of cases, ends with a profit in the hundreds.

Overall, I have learned much from this room, e.g. seeing that
  • trading can be done
  • you dont have to be a rocket scientist with a PhD from maths to succeed
  • how people use the tape and market profile
  • "trading habits" of people who do this for a living
  • and many more, that I cannot verbalize.

Cheers,
Daniel

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 rocksolid68 
Duluth MN
 
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I have attended the GTR rooms free Tuesday trials on several occasions.

While I have been in the room they generally do quite well. I got used to their conversational style after awhile.

Question: Does anyone have an idea how they are deriving their "Magnet Lines" that the market "is drawn back to"?

The price for the room is steep but they seem to make money consistently from the sample of time I have watched.

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 rdtw 
Des Moines Iowa United States
 
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rocksolid68 View Post
I have attended the GTR rooms free Tuesday trials on several occasions.

While I have been in the room they generally do quite well. I got used to their conversational style after awhile.

Question: Does anyone have an idea how they are deriving their "Magnet Lines" that the market "is drawn back to"?

The price for the room is steep but they seem to make money consistently from the sample of time I have watched.

@rocksolid68, I believe it is what they term as unfinished business ... I think

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 leledc 
Rome
 
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Trading: 6E/EURUSD
 
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rdtw View Post
@rocksolid68, I believe it is what they term as unfinished business ... I think

No...the so called magnet is a level in the footprint where ask=bid.
10x10
20x20
32x32 etc

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  #23 (permalink)
 jas12 
toronto canada
 
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Platform: ib
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Anybody can share the tutorial videos of gtr please help

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  #24 (permalink)
 mediaboy 
Durham, NC
 
Experience: Beginner
Platform: NinjaTrader
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jas12 View Post
Anybody can share the tutorial videos of gtr please help

Google is your friend?
[yt]https://www.youtube.com/user/GTRFuturesLiveRoom/videos[/yt]

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  #25 (permalink)
 mediaboy 
Durham, NC
 
Experience: Beginner
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Is this true? Our beloved Gomi is a member and partner for this GTR room?

I was shocked when i saw this ->

contact-us - Global Trade Room

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  #26 (permalink)
 fourtiwinks 
Singapore
 
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Thanks for posting the link, mediaboy. Wow, what a surprise indeed!

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 rocksolid68 
Duluth MN
 
Experience: Intermediate
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GTR introduced Gomi as a "partner" on their site a couple of weeks ago.

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  #28 (permalink)
 Eclipse247 
Bath/Somerset/UK
 
Experience: Beginner
Platform: Infinity, IB
Trading: GC,SI, Currency futures
 
Posts: 8 since Apr 2015
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I have been attending some of their free trials for a while and Gomi has attended a couple of times while I was there. Market profile interests me.
GTR is a little hard to follow at times. I wonder if the other times of the week when its members only that it may be a little easier. I find the London session to be easier to follow.
Perhaps there are some GTR members here who have more info?
These guys seem to have a good trade plan and do seem to bring home the goods. They are friendly and helpful. Pricey to join. though!

This video explains in a bit more detail some of the indicators and strategy used. Jay does not appear in any of the free trials I have attended.


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  #29 (permalink)
 Tymbeline 
Leeds UK
 
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Eubie View Post
Cons:
- trades are done in multiples of 3 contracts with the same stop (e.g. 6 ticks), with targets being 5 ticks on two contracts and the last is left as a runner. As soon as the smaller targets are reached, the room operator will have made enough money for a "risk-free" trade where he goes for bigger profits. My problems with this is that the first two contracts have risk:reward < 1 which goes against all I feel is right.

That would make me uncomfortable, too, Daniel.

Still, it's a fairly time-honoured method: trade 3 lots with the first target set at half the SL or a little higher, the idea being to close those quickly, covering both dealing costs and the cost of the third lot which can then have a "free run". Joe Ross was teaching this over 30 years ago.

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  #30 (permalink)
 jas12 
toronto canada
 
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anybody
r u member of gtr if yes please let me know about more I am thinking to join but they asking too much I donot know is it worth or not
thanks

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  #31 (permalink)
 Eclipse247 
Bath/Somerset/UK
 
Experience: Beginner
Platform: Infinity, IB
Trading: GC,SI, Currency futures
 
Posts: 8 since Apr 2015
Thanks: 2 given, 1 received

What you appear to get from GTR is an off the shelf trading plan/system with education, support and access to a trade room where trades are shared/called including via Skype from other members. It appears to work. It uses volume and market profile footprint. I havnt seen TPO used. It seems that Gomi is covering the GTR IT support via Skype. Many people spend more than $10k one way or the other to learn to trade! It would be interesting to know how much traders at futures.io (formerly BMT) invested/lost in their own learning curve. Maybe a survey could be done if its not been done already. The rookie retail trader needs to find an edge. Could this be it?

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  #32 (permalink)
 Eclipse247 
Bath/Somerset/UK
 
Experience: Beginner
Platform: Infinity, IB
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Posts: 8 since Apr 2015
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Anybody signed up and got any feedback to give? I'm thinking of doing so but I've been away in Tunisia (yes, I was right next to the event) so I still have not done it. MarketDelta looks good too.

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 Eclipse247 
Bath/Somerset/UK
 
Experience: Beginner
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Posts: 8 since Apr 2015
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They are currently doing a 2 for 1 deal. Anyone interested in paring up let me know.

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  #34 (permalink)
 estrade 
Austin/TX
 
Experience: Advanced
Platform: NT
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I bought this 5 years ago, sales pitch is good.
Saw all the setups.
Wanted my money back as soon as I good the password and in the members area and program.
good luck. I don't remember much else.

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 nodoji 
New York
 
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I tested out that room this morning. I had never heard of it before.

What a DISASTER, the guy ripped up cash on every trade. To make matters worse, he made some comment about todays loss wiped out his monthy gains. He has no money management skills. It has to be one of the worst rooms I have ever seen.

I feel sorry for the sucker at the end who tried to sell the service. He even went on to say that the main guy (who ripped up all the cash) was one of the best traders in the WORLD.

On the positive side it was entertaining.


PS- Sorry this was posted originally in wrong thread.

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  #36 (permalink)
 chripu 
Gmunden Austria
 
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csilver View Post
I tested out that room this morning. I had never heard of it before.

What a DISASTER, the guy ripped up cash on every trade. To make matters worse, he made some comment about todays loss wiped out his monthy gains. He has no money management skills. It has to be one of the worst rooms I have ever seen.

I feel sorry for the sucker at the end who tried to sell the service. He even went on to say that the main guy (who ripped up all the cash) was one of the best traders in the WORLD.

On the positive side it was entertaining.


PS- Sorry this was posted originally in wrong thread.

You been there for the first time .... i been there maybe 10 times on tusdays and a few time on thursdays ... untill today i never saw the team loosing ... .... in my opinion you should visit them for at least 3-4 times before making a statment like you did ...

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  #37 (permalink)
 nodoji 
New York
 
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chripu View Post
You been there for the first time .... i been there maybe 10 times on tusdays and a few time on thursdays ... untill today i never saw the team loosing ... .... in my opinion you should visit them for at least 3-4 times before making a statment like you did ...

I am just stating the facts. Don't shoot the messenger. The room is a complete mess, based off what I saw today. :sos:

It wasn't all bad, it was entertaining.

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  #38 (permalink)
 rocksolid68 
Duluth MN
 
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I've attended GTR's Free Tuesday Trials on 7 occasions and the Free Thursday Trials 4 times.

For starters I have never seen them take any trade on Thursday nights. "Volume is too light ...too slow...etc."

I believe they can trade but I also have found you cannot really follow their trades - even in SIM.

Simon makes rapid fire calls "Buy bid! Buy bid!" and then magically gets filled...you do not. Or if you do at a worse price you often get stuffed on a quick stop out.

That they are listed as one of Dean Handley's Trade Titans is what is drawing people to their site.

Handley in my opinion is running a real good long con. Kickbacks from the sites he puts on his list? I wonder...

They do put on a good show and almost sucked me in....almost :-)

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  #39 (permalink)
 Big Mike 
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rocksolid68 View Post
I've attended GTR's Free Tuesday Trials on 7 occasions and the Free Thursday Trials 4 times.

For starters I have never seen them take any trade on Thursday nights. "Volume is too light ...too slow...etc."

I believe they can trade but I also have found you cannot really follow their trades - even in SIM.

Simon makes rapid fire calls "Buy bid! Buy bid!" and then magically gets filled...you do not. Or if you do at a worse price you often get stuffed on a quick stop out.

That they are listed as one of Dean Handley's Trade Titans is what is drawing people to their site.

Handley in my opinion is running a real good long con. Kickbacks from the sites he puts on his list? I wonder...

They do put on a good show and almost sucked me in....almost :-)

You can research Handley here on futures.io (formerly BMT). He was banned for his behavior and practices.

Mike

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  #40 (permalink)
 Greg4hvn 
Atlanta, Georgia/USA
 
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There seem to be different views on this room, by some accounts it is one of the best out there, others who have been in the trials see things that don't give confidence. Are there any who have been members for a while that can give an unbiased review?

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  #41 (permalink)
 fminus 
Washington DC
 
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I'll chime in with my experience. I joined their room sometime in early Jan 2014 out of a desperate hail-mary attempt to find a profitable "edge" after years of hemorrhaging my trading account.

Pros:
- Lots of lots of videos and materials
- Can ask questions during the trading hours and they get answered quickly
- Good introduction to volume profile and how someone can possibly use it
- You can get an idea of how trade management works in real-time without trying to conceptualize from a book

Cons:
- Very ambiguous trade rules. Sometimes trades are taken at the edge of a smaller timeframe profile, sometimes a larger one.
- Ambiguous targets. Basically holding runner until you can't take it anymore and give in to the desire to take profit.
- Conflicting calls in the room because of different trading styles. You have a 5 tick scalper (Bob) and then those going for Swings (Simon) and Sandy doing both. Everyone is yelling into the mic at the same time mind you.
- Cost.
- They get people on only risking a couple of ticks, but that's a couple of ticks on 3 contracts, then they use 2 contracts to pay for the risk of the last contract and try to get a free ride. Not everyone can trade 3 contracts of CL.
- Knife-catcher. Simon is a counter-trend trader. When he catches a swing it's nice, but you will get stopped out more often than when you catch a good swing. So you need to have a well padded account and enough contracts to have a decent runner to make up for the stop outs.


Overall: I stopped going to the room after a couple of months because I realize it was distracting, confusing, and not really getting anything out of it. Don't make the same mistake I did. Save your 10k or however much it is now and fund yourself well when you gain some confidence to trade well.

The reality is that no one is going to "teach" you some magic formula you can repeat over and over again on how to trade profitably. Just like Lebron can teach you his moves, but it won't make you Lebron, nor will you probably play like him. So stop trying to be Lebron and go find yourself.

Just think about it for a minute. Do you really think you can somehow be profitable doing what everyone else is doing? The answer to profitable trading lies somewhere within that very question.

You're welcome, I just saved you 10k.

In trading, shortcuts lead to the longest path possible.
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 nodoji 
New York
 
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fminus View Post
I'll chime in with my experience. I joined their room sometime in early Jan 2014 out of a desperate hail-mary attempt to find a profitable "edge" after years of hemorrhaging my trading account.

Pros:
- Lots of lots of videos and materials
- Can ask questions during the trading hours and they get answered quickly
- Good introduction to volume profile and how someone can possibly use it
- You can get an idea of how trade management works in real-time without trying to conceptualize from a book

Cons:
- Very ambiguous trade rules. Sometimes trades are taken at the edge of a smaller timeframe profile, sometimes a larger one.
- Ambiguous targets. Basically holding runner until you can't take it anymore and give in to the desire to take profit.
- Conflicting calls in the room because of different trading styles. You have a 5 tick scalper (Bob) and then those going for Swings (Simon) and Sandy doing both. Everyone is yelling into the mic at the same time mind you.
- Cost.
- They get people on only risking a couple of ticks, but that's a couple of ticks on 3 contracts, then they use 2 contracts to pay for the risk of the last contract and try to get a free ride. Not everyone can trade 3 contracts of CL.
- Knife-catcher. Simon is a counter-trend trader. When he catches a swing it's nice, but you will get stopped out more often than when you catch a good swing. So you need to have a well padded account and enough contracts to have a decent runner to make up for the stop outs.


Overall: I stopped going to the room after a couple of months because I realize it was distracting, confusing, and not really getting anything out of it. Don't make the same mistake I did. Save your 10k or however much it is now and fund yourself well when you gain some confidence to trade well.

The reality is that no one is going to "teach" you some magic formula you can repeat over and over again on how to trade profitably. Just like Lebron can teach you his moves, but it won't make you Lebron, nor will you probably play like him. So stop trying to be Lebron and go find yourself.

Just think about it for a minute. Do you really think you can somehow be profitable doing what everyone else is doing? The answer to profitable trading lies somewhere within that very question.

You're welcome, I just saved you 10k.



I never knew that they were all trading different strategies, hence the conflicting calls. I thought it was just a mess.

After reading your post I have just been to that room twice, first and last

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  #43 (permalink)
 Fxfutures1976 
London
 
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fminus View Post
I'll chime in with my experience. I joined their room sometime in early Jan 2014 out of a desperate hail-mary attempt to find a profitable "edge" after years of hemorrhaging my trading account.

Pros:
- Lots of lots of videos and materials
- Can ask questions during the trading hours and they get answered quickly
- Good introduction to volume profile and how someone can possibly use it
- You can get an idea of how trade management works in real-time without trying to conceptualize from a book

Cons:
- Very ambiguous trade rules. Sometimes trades are taken at the edge of a smaller timeframe profile, sometimes a larger one.
- Ambiguous targets. Basically holding runner until you can't take it anymore and give in to the desire to take profit.
- Conflicting calls in the room because of different trading styles. You have a 5 tick scalper (Bob) and then those going for Swings (Simon) and Sandy doing both. Everyone is yelling into the mic at the same time mind you.
- Cost.
- They get people on only risking a couple of ticks, but that's a couple of ticks on 3 contracts, then they use 2 contracts to pay for the risk of the last contract and try to get a free ride. Not everyone can trade 3 contracts of CL.
- Knife-catcher. Simon is a counter-trend trader. When he catches a swing it's nice, but you will get stopped out more often than when you catch a good swing. So you need to have a well padded account and enough contracts to have a decent runner to make up for the stop outs.


Overall: I stopped going to the room after a couple of months because I realize it was distracting, confusing, and not really getting anything out of it. Don't make the same mistake I did. Save your 10k or however much it is now and fund yourself well when you gain some confidence to trade well.

The reality is that no one is going to "teach" you some magic formula you can repeat over and over again on how to trade profitably. Just like Lebron can teach you his moves, but it won't make you Lebron, nor will you probably play like him. So stop trying to be Lebron and go find yourself.

Just think about it for a minute. Do you really think you can somehow be profitable doing what everyone else is doing? The answer to profitable trading lies somewhere within that very question.

You're welcome, I just saved you 10k.

Totally agree with every word from Fminus, Ill also add from my experience.

I have years of experience with limited success with trading so I sat in for a few trial sessions with the GTR, unfortunately I got suckered in to a membership at a cost of $8000 in installments.

They offer you different pay plans to suit, which can be tempting, but I soon realized it was not as it seems.
They add up their tick count combine between the 3 of the guys that take the room so it sounds appealing.

The days I sat in on the trial I did see some success but soon realized when I joined up that its impossible to get any where near the amounts they were totaling.

Simon's trade calls are hard to follow because he calls them as he's pulling the trigger and they are all counter trend trades. I followed the trade calls many times but i never got the positive results that they said they the were getting but the complete opposite.

Same as Fminus, I stopped going to the room after 3/4 months as I realized it was not working for me.
Anyone with some experience with Analysis can get the direction of the markets right, but its the Trade management, staying in trades and not over trading is the hard bit, something that takes years to develop.

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 HectorPriamedes 
OMAHA, NEBRASKA
 
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Fxfutures1976 View Post
The days I sat in on the trial I did see some success but soon realized when I joined up that its impossible to get any where near the amounts they were totaling.

Simon's trade calls are hard to follow because he calls them as he's pulling the trigger and they are all counter trend trades. I followed the trade calls many times but i never got the positive results that they said they the were getting but the complete opposite.

AND


rocksolid68 View Post
For starters I have never seen them take any trade on Thursday nights. "Volume is too light ...too slow...etc."

I believe they can trade but I also have found you cannot really follow their trades - even in SIM.

Simon makes rapid fire calls "Buy bid! Buy bid!" and then magically gets filled...you do not. Or if you do at a worse price you often get stuffed on a quick stop out.


I tried to quote two people above, hope this works.

I should first declare that I have NOT attended this trading room at all. So what I am about to say is my own theory as to what is going on. I read this thread in its entirety and I want to comment on something that novice traders may not have pieced together which is hazardous to miss.

The two members above both comment on how the announcer Simon shouts his trades at the last moment. Both members above say they were not able to replicate Simon's fills -one member says he could not replicate the results even on a sim account. <--- This is a dead giveaway, as most sims will give you unrealistically good fills.

The reason Simon calls his trades late or at the last minute, is because Simon is Front Running his own clients. He wants to enter in the market before everyone else, so he has the best fill. While getting a good fill by itself is not evil, it's what happens afterward that is both sinister and illegal:

Simon first gets his own fill,
Simon shouts to all the other members "Buy bid! Buy bid!"
The (hundreds?) of members in the room all rush in at once with their bid orders of 3+ contracts each,
The bid is suddenly bombarded with 1000+ contracts, possibly much much more.
It's even probable that at the same moment, some members of the room panic and hit the offer with aggressive limits and market orders,
The market reacts, and jolts up a few ticks, possible much more depending on liquidity.
As a result of this jolt, Simon gets filled on his first profit target of 5 ticks and exits 2/3rds of his position.
Simon has booked real profits and has stellar trading results to post for the trading room's official track record, even if his last contract stops out at break even.
Everyone else has been left in the dust with no fill, or a bad fill that dooms them to take a loss on the trade. Not to mention the stress involved with constantly having results so wildly different than their trade room leader. Their psychology alone at this juncture dooms their trading.

This is why the two members who posted here said they were both unable to replicate Simon's results. Because it is highly likely that Simon is front running. Being that Simon and the other instructors in this room are self proclaimed order flow experts, they will have a tough time convincing a jury that they did not know what they were doing at the time they were doing it. Order flow was their methodology and they used it to exploit their own clients.

In fact, I wonder how often Simon's own students who have sent a market order trying to enter in, have unknowingly been filled when they bought Simon's own sell to close limit orders?

This is really sinister. It's not enough these guys are charging their students thousands of dollars for trading results they know the students can't replicate, but they even front-run their own children to make some extra money on the side. Just wow...

If what I have described is what is actually occurring in that trading room, then Simon (and others) are successfully using exploiting their own clients to front run orders, forcing the market where they want it to go briefly, so they can exit to their benefit, and to their students' detriment. This is illegal. Now if ANY person is running a popular trading room this is probably very easy to do. So guys, why not learn to trade independent of trading rooms altogether?

Front Running financial definition of Front Running

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  #45 (permalink)
 jerryjerry 
GARLAND TEXAS
 
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HectorPriamedes View Post
AND




I tried to quote two people above, hope this works.

I should first declare that I have NOT attended this trading room at all. So what I am about to say is my own theory as to what is going on. I read this thread in its entirety and I want to comment on something that novice traders may not have pieced together which is hazardous to miss.

The two members above both comment on how the announcer Simon shouts his trades at the last moment. Both members above say they were not able to replicate Simon's fills -one member says he could not replicate the results even on a sim account. <--- This is a dead giveaway, as most sims will give you unrealistically good fills.

The reason Simon calls his trades late or at the last minute, is because Simon is Front Running his own clients. He wants to enter in the market before everyone else, so he has the best fill. While getting a good fill by itself is not evil, it's what happens afterward that is both sinister and illegal:

Simon first gets his own fill,
Simon shouts to all the other members "Buy bid! Buy bid!"
The (hundreds?) of members in the room all rush in at once with their bid orders of 3+ contracts each,
The bid is suddenly bombarded with 1000+ contracts, possibly much much more.
It's even probable that at the same moment, some members of the room panic and hit the offer with aggressive limits and market orders,
The market reacts, and jolts up a few ticks, possible much more depending on liquidity.
As a result of this jolt, Simon gets filled on his first profit target of 5 ticks and exits 2/3rds of his position.
Simon has booked real profits and has stellar trading results to post for the trading room's official track record, even if his last contract stops out at break even.
Everyone else has been left in the dust with no fill, or a bad fill that dooms them to take a loss on the trade. Not to mention the stress involved with constantly having results so wildly different than their trade room leader. Their psychology alone at this juncture dooms their trading.

This is why the two members who posted here said they were both unable to replicate Simon's results. Because it is highly likely that Simon is front running. Being that Simon and the other instructors in this room are self proclaimed order flow experts, they will have a tough time convincing a jury that they did not know what they were doing at the time they were doing it. Order flow was their methodology and they used it to exploit their own clients.

In fact, I wonder how often Simon's own students who have sent a market order trying to enter in, have unknowingly been filled when they bought Simon's own sell to close limit orders?

This is really sinister. It's not enough these guys are charging their students thousands of dollars for trading results they know the students can't replicate, but they even front-run their own children to make some extra money on the side. Just wow...

If what I have described is what is actually occurring in that trading room, then Simon (and others) are successfully using exploiting their own clients to front run orders, forcing the market where they want it to go briefly, so they can exit to their benefit, and to their students' detriment. This is illegal. Now if ANY person is running a popular trading room this is probably very easy to do. So guys, why not learn to trade independent of trading rooms altogether?

Front Running financial definition of Front Running

i would have to agree with you i am a member and have been for about close to a year now i only trade the clude ym,Nasdaq,gold because these are the ones that have the most sucess ,plus i have the bang bang indicator myself so i can see the levels allso , so i only take trades that meet the market profile plus guys and this is very important you have to have a very big account to follow their trades because they make be in three trades at one time this is the part that they do not tell you so if you do not have a account size of 25000 at least this is not the room for you i do not atend the room nomore because i can trade on my own now . i now listen to truesquawk ever-morning for the news straight form the pit and i get a direction of where the market is heading for the day

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  #46 (permalink)
 futurestrader1 
New York City, USA
 
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Nice analysis btw!

I didn't really think much about front running during live trade rooms. Good point. I checked on your link and it said, "...that knowing that other investors are about to take a position that will positively influence one's own."

I guess Simon HOPES they would take a position but certainly he can't "know" they will. After all, he's just calling out his own trades, right with no position? He is a CTA however, so i'm sure some ethical thoughts have arisen in his mind.

Where as your link was referring to marketmakers who have a professional/fiduciary role to fill orders and they actually "know" where orders are placed on the other side because they actually see it. So I don't think Simon's actions are illegal. But cool topic!

I was in that room a few times on free Tuesdays, thank god I didn't join.

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 Fxfutures1976 
London
 
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Interesting read from HectorPriamedes.

Id Just like to add a few more details about my experience.

There were very contradicting sayings In the Trials, They would say ...you can earn while you learn by following their trades, but when you're a member in the members only classes, Simon would say, don't trade live until you can trade off your own back.

They like to make up their own names for different types of trades to make it sound different like powerlines, suction tubes, bang bang trades, poke poke, then there's the latest one, The knife trade...! They also use tick charts which one can presume are better than minute charts.

You can make up your own mind about the GTR but it just seemed like a big sales pitch with these very common methods that have been given different names to sound unique.




HectorPriamedes View Post
AND




I tried to quote two people above, hope this works.

I should first declare that I have NOT attended this trading room at all. So what I am about to say is my own theory as to what is going on. I read this thread in its entirety and I want to comment on something that novice traders may not have pieced together which is hazardous to miss.

The two members above both comment on how the announcer Simon shouts his trades at the last moment. Both members above say they were not able to replicate Simon's fills -one member says he could not replicate the results even on a sim account. <--- This is a dead giveaway, as most sims will give you unrealistically good fills.

The reason Simon calls his trades late or at the last minute, is because Simon is Front Running his own clients. He wants to enter in the market before everyone else, so he has the best fill. While getting a good fill by itself is not evil, it's what happens afterward that is both sinister and illegal:

Simon first gets his own fill,
Simon shouts to all the other members "Buy bid! Buy bid!"
The (hundreds?) of members in the room all rush in at once with their bid orders of 3+ contracts each,
The bid is suddenly bombarded with 1000+ contracts, possibly much much more.
It's even probable that at the same moment, some members of the room panic and hit the offer with aggressive limits and market orders,
The market reacts, and jolts up a few ticks, possible much more depending on liquidity.
As a result of this jolt, Simon gets filled on his first profit target of 5 ticks and exits 2/3rds of his position.
Simon has booked real profits and has stellar trading results to post for the trading room's official track record, even if his last contract stops out at break even.
Everyone else has been left in the dust with no fill, or a bad fill that dooms them to take a loss on the trade. Not to mention the stress involved with constantly having results so wildly different than their trade room leader. Their psychology alone at this juncture dooms their trading.

This is why the two members who posted here said they were both unable to replicate Simon's results. Because it is highly likely that Simon is front running. Being that Simon and the other instructors in this room are self proclaimed order flow experts, they will have a tough time convincing a jury that they did not know what they were doing at the time they were doing it. Order flow was their methodology and they used it to exploit their own clients.

In fact, I wonder how often Simon's own students who have sent a market order trying to enter in, have unknowingly been filled when they bought Simon's own sell to close limit orders?

This is really sinister. It's not enough these guys are charging their students thousands of dollars for trading results they know the students can't replicate, but they even front-run their own children to make some extra money on the side. Just wow...

If what I have described is what is actually occurring in that trading room, then Simon (and others) are successfully using exploiting their own clients to front run orders, forcing the market where they want it to go briefly, so they can exit to their benefit, and to their students' detriment. This is illegal. Now if ANY person is running a popular trading room this is probably very easy to do. So guys, why not learn to trade independent of trading rooms altogether?

Front Running financial definition of Front Running


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  #48 (permalink)
 Greg4hvn 
Atlanta, Georgia/USA
 
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leledc View Post
No...the so called magnet is a level in the footprint where ask=bid.
10x10
20x20
32x32 etc

I am looking into these "price magnets" as well. Is this all there is to it? Do you think there is any beneft to this system? I am sure these levels could be duplicated if what you say is true.

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 fminus 
Washington DC
 
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Greg4hvn View Post
I am looking into these "price magnets" as well. Is this all there is to it? Do you think there is any beneft to this system? I am sure these levels could be duplicated if what you say is true.

There is nothing special about the price magnets. If you think that there is some magic inside bid and ask equaling the same, you my friend, have a long way on your trading journey.

The bid x ask is all relative to the time frame that you're looking at. A 50x50 could be inside a bigger 1000x1001. Which one is correct? The answer is both. If you play around with his magnet indicator, you'll notice that on higher time frames it will draw less "magnets" than if you were looking on a lower time frame.

Also, because of statistics and reversion to the mean, these lower time frame magnets will get reached simply due to the nature of the markets and the search for fair value. If you really want to find something that will be a magnet, use what everyone else is using (POC, VPOC, gaps, etc).

They offer you nothing that you can't figure out yourself for free with some hard work and experience.

In trading, shortcuts lead to the longest path possible.
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 Greg4hvn 
Atlanta, Georgia/USA
 
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fminus View Post
There is nothing special about the price magnets. If you think that there is some magic inside bid and ask equaling the same, you my friend, have a long way on your trading journey.

The bid x ask is all relative to the time frame that you're looking at. A 50x50 could be inside a bigger 1000x1001. Which one is correct? The answer is both. If you play around with his magnet indicator, you'll notice that on higher time frames it will draw less "magnets" than if you were looking on a lower time frame.

Also, because of statistics and reversion to the mean, these lower time frame magnets will get reached simply due to the nature of the markets and the search for fair value. If you really want to find something that will be a magnet, use what everyone else is using (POC, VPOC, gaps, etc).

They offer you nothing that you can't figure out yourself for free with some hard work and experience.

I understand what you are saying, but they are making some good calls, somehow their system seems to work pretty well for them, even if I don't understand why their system works, which I agree with you, the price magnets don't make sense to me either. I was able to follow some of the trades today, but some calls are too fast to catch. I don't believe front running is really how they are succeeding, it would seem you need more than that to really move the markets, but I am not an expert on this. They are the most consistent trading room I have seen that uses market profile, I wish I could find a cheaper and more understandable alternative, have not found that yet. Maybe someone has a better suggestion?

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  #51 (permalink)
 fminus 
Washington DC
 
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Greg4hvn View Post
I understand what you are saying, but...

The solution you're looking for isn't in a trading room, indicator, trading system, book, seminar, or webinar. There are no shortcuts to trading. It's hard work... really hard work. It takes a retarded level of determination, perseverance, and capital that most people don't have.

Unfortunately, most people don't want to hear that it may take them years of losing and struggling before they see even a glimmer of profit. The majority of these trading rooms and salesmen feed off that desperate desire to find a faster way. If there was a shortcut, don't you think everyone would be doing it?

In trading, shortcuts lead to the longest path possible.
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 traderx4 
Nottingham, United Kingdom
 
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HectorPriamedes View Post
AND




I tried to quote two people above, hope this works.

I should first declare that I have NOT attended this trading room at all. So what I am about to say is my own theory as to what is going on. I read this thread in its entirety and I want to comment on something that novice traders may not have pieced together which is hazardous to miss.

The two members above both comment on how the announcer Simon shouts his trades at the last moment. Both members above say they were not able to replicate Simon's fills -one member says he could not replicate the results even on a sim account. <--- This is a dead giveaway, as most sims will give you unrealistically good fills.

The reason Simon calls his trades late or at the last minute, is because Simon is Front Running his own clients. He wants to enter in the market before everyone else, so he has the best fill. While getting a good fill by itself is not evil, it's what happens afterward that is both sinister and illegal:

Simon first gets his own fill,
Simon shouts to all the other members "Buy bid! Buy bid!"
The (hundreds?) of members in the room all rush in at once with their bid orders of 3+ contracts each,
The bid is suddenly bombarded with 1000+ contracts, possibly much much more.
It's even probable that at the same moment, some members of the room panic and hit the offer with aggressive limits and market orders,
The market reacts, and jolts up a few ticks, possible much more depending on liquidity.
As a result of this jolt, Simon gets filled on his first profit target of 5 ticks and exits 2/3rds of his position.
Simon has booked real profits and has stellar trading results to post for the trading room's official track record, even if his last contract stops out at break even.
Everyone else has been left in the dust with no fill, or a bad fill that dooms them to take a loss on the trade. Not to mention the stress involved with constantly having results so wildly different than their trade room leader. Their psychology alone at this juncture dooms their trading.

This is why the two members who posted here said they were both unable to replicate Simon's results. Because it is highly likely that Simon is front running. Being that Simon and the other instructors in this room are self proclaimed order flow experts, they will have a tough time convincing a jury that they did not know what they were doing at the time they were doing it. Order flow was their methodology and they used it to exploit their own clients.

In fact, I wonder how often Simon's own students who have sent a market order trying to enter in, have unknowingly been filled when they bought Simon's own sell to close limit orders?

This is really sinister. It's not enough these guys are charging their students thousands of dollars for trading results they know the students can't replicate, but they even front-run their own children to make some extra money on the side. Just wow...

If what I have described is what is actually occurring in that trading room, then Simon (and others) are successfully using exploiting their own clients to front run orders, forcing the market where they want it to go briefly, so they can exit to their benefit, and to their students' detriment. This is illegal. Now if ANY person is running a popular trading room this is probably very easy to do. So guys, why not learn to trade independent of trading rooms altogether?

Front Running financial definition of Front Running


Excellant Analysis Hector.. Many Thanks for your input. I was wondering why I was making no great headway after parting with my dollar... :-(

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 HectorPriamedes 
OMAHA, NEBRASKA
 
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traderx4 View Post
Excellant Analysis Hector.. Many Thanks for your input. I was wondering why I was making no great headway after parting with my dollar... :-(


You're very welcome. Glad I could help. Sorry to hear you lost some money in all this.

Keep your head up, there IS money to be made the market. In my opinion it is easier without the smoke and mirrors of trading rooms. To leave them altogether and instead read these forums extensively, and test/apply what you learn on your own. I think that's way more rewarding than trading rooms.

As BigMike always says, the Holy Grail to trading is within you!

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 Fxfutures1976 
London
 
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Analyzing charts and calling out area's isn't very difficult after spending many day's, months, years in front of your screens.
I believe most people could get a good idea of where the markets are going just by using basic support and resistance lines and plenty of time spent studying charts.

But, the very very difficult bit is profiting from the area's that you 'Think' the market might react to.
Most times my area's get hit and I could give you area's where the CL, 6E get hit all day long but that wont make me money unless I have a solid plan, money management and a sound mind for trading.

I know great analysts that cant make money and great traders that are not fantastic analysts but know how to make money.

Hope this helps and good luck.


Greg4hvn View Post
I understand what you are saying, but they are making some good calls, somehow their system seems to work pretty well for them, even if I don't understand why their system works, which I agree with you, the price magnets don't make sense to me either. I was able to follow some of the trades today, but some calls are too fast to catch. I don't believe front running is really how they are succeeding, it would seem you need more than that to really move the markets, but I am not an expert on this. They are the most consistent trading room I have seen that uses market profile, I wish I could find a cheaper and more understandable alternative, have not found that yet. Maybe someone has a better suggestion?


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GuyMM
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Big Mike View Post
Because I am the administrator of the site, and I see the patterns and behaviors of vendors that disguise or lie about their identity in order to promote their products all the time.

Your posts read like advertisements, including costs and all the "upside" of how much money is being made, with no discussion of the risk or negative views on this vendor.

You also continue to post here even after you've already made your "review", responding to people as if you were the owner of the trading room.

It is all highly suspicious and of course if true you are in violation of our forum rules and will be banned permanently.

Mike

@JJ, do yourself a favor and stop posting about the vendor. We all know BM's MO and this is the precursor to him looking for any reason to associate you directly with the vendor to ban you (you may not care, but that's another story). There is a recurring pattern here at BM. Had you not been here 3 years, you'd more than likely be banned already.

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GuyMM
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toulouse-lautrec View Post
I joined them twice for the free session they offer on a weekly basis.
There were two chaps in the room (Bob and Sandy?) discussing trades and some other topics. Almost like a radio show ... The older guy almost sounds like Lahey from the Trailer Park Boys ....

I only listened for 1 -2 hrs each session and was not able to always pay full attention, so take my words with a grain of salt.

From what i saw / heard they were not trading exactly in the same way. One of them basically used a trendline / box breakout method. The other one seemed to position himselves with limit orders around key profile levels / SR levels.
The trendline guy showed his charts and he was watching three different markets all the time.

They were transparent and upfront about which trades they took, on some occasions i saw the chart trader.
As far as i could tell they were making money (sim or live, i don't know).
The trades i saw were apparently executed with 3 contracts, taking off 2 contracts at just a few ticks (3 ticks i think i saw).

What makes me very cautious is when people discuss continuously about how much money you can make theoretically. This for me is always a red flag. It usually starts with some small number, which is supposed to make it sound achievable ("making $200/day should be easy....") and then all of a sudden numbers become bigger and bigger. Then they said if you'd make $200/day consistently any hedge fund would pay you $10M/year to trade for them... yeah, right!

There was a lot of boasting about how they can explain every tick in the market at any time and how they could even teach a monkey how to trade. They also kept mentioning how good Simon, their partner (not present) is, how he would identify turning points to the tick and take huge runners... (how lucky they are they have him and he is not actually trading for one of these hedge funds making millions!)

In summary, from what i saw (and again i cant say i kept watching very closely) it seemed to me that their method revolves around scraping a few ticks off at high probability inflection levels, immediately taking 2/3rds off to reduce risk and hoping to catch the occasional runner.
If it work for them, that's fine, there's worse out there. For me personally this kind of risk management is problematic.
Some may be able to pick up themselves how to trade like that, some may want to pay someone for the service to be taught.

The risk in this style of MM lies in the initial stop. Is it larger (and how much so) than the first PT that peels of 2/3 of the position and then the last held contract is moved to a free trade? Mathematically speaking, all in, all out is a more profitable systems than getting "risk free" after closing 2/3 of your position. How often does that runner materialize; probably not enough and what you discover is lots of scratched trades, some big upside down losers, and lots of commissions.

I'm taking a free trial in a room now where the moderator risks 8 ES ticks to make 3 on 2/3 position and then moves his STP to BE (not entry). When it works out, the "risk free" trades feels good, but when the first trade or two is a loser, you're going to be underwater for the rest of the day. It's a negative expectancy MM style that requires a win rate of 75%+ to make any sense.

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 Fxfutures1976 
London
 
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This is a blatant Lie from Jerry, when you are in the trials Simon will say earn as you learn but when you sign up as a member he will say 'don't trade a live account until you can Trade of your own back.



jerryjerry View Post
estrade haved you been in the room .he has a free room every truday so that you can see first hand what is going on plus all you have to do is go to the global trade room and view their track record for the last six months .every trade is posted that was given . simon trades with more than 3 contracts most of the time but on the results page he only counts 3 contracts you dont have to unstand what is going on all you haved to do is follow the trades and you will make money that is all that counts .it is a trading room not a learning room


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 jerryjerry 
GARLAND TEXAS
 
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Fxfutures1976 View Post
This is a blatant Lie from Jerry, when you are in the trials Simon will say earn as you learn but when you sign up as a member he will say 'don't trade a live account until you can Trade of your own back.

dont call me a lair if you are not a member of the room and took some of the trades yourself

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 Fxfutures1976 
London
 
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If you read my previous posts you will see that I was a member.
I stand by everything that I have said.





jerryjerry View Post
dont call me a lair if you are not a member of the room and took some of the trades yourself


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  #60 (permalink)
 crazybears 
Alesia E.U.
 
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Hi

i've attended some trial version:
I didn't have difficult to follow their entry ,i've to admit a lot of call were made in advance
yes the chat is noisy and the voices of the three traders frequently overlap , you have to be concentrate.
i heard them speaking about homemade-levels , blue thick lines on charts , it's something similar if not equal i've heard by NOFT (google it) but so far i'm not able to fully understand it.
it seems that they are searching of LVN among different time frame that are at the same levels.
i don't understand if these levels are taken from VP with a fixed length or from variable length , the latter it's too subjective ,it rely on own analysis ,can vary depending on the length of timeframe and quality of data etc.
i think can't be teach.
imho ,price subscription for 1 year it's too high .

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 TCYSNJ992 
Singapore/Singapore
 
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Hi All,
Thank you for your inputs on this subject.
Especially those of you who have joined GTR and now giving your experience.
I have attended a couple of their free Tues trials was just thinking of joining this room but thanks to you, I think I'll put that on hold for a while...


Just wondering... Are there any "recommended" trade rooms out there??

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 billsingh 
San jose
 
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TCYSNJ992 View Post
Hi All,
Thank you for your inputs on this subject.
Especially those of you who have joined GTR and now giving your experience.
I have attended a couple of their free Tues trials was just thinking of joining this room but thanks to you, I think I'll put that on hold for a while...


Just wondering... Are there any "recommended" trade rooms out there??

@TCYSNJ992 ...I was thinking of same thing. I think we should ask Big Mike first so we can create new thread so everyone who is in any good room tell us his/her experiences.

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 TCYSNJ992 
Singapore/Singapore
 
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billsingh View Post
@TCYSNJ992 ...I was thinking of same thing. I think we should ask Big Mike first so we can create new thread so everyone who is in any good room tell us his/her experiences.

Great idea!

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  #64 (permalink)
 Big Mike 
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Or:

1. Click 'Vendors and Product Reviews' top of the page.
2. Read the sticky (important) threads, and find:



A long thread that in my opinion accurately shows trading rooms are to be avoided.

Mike

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  #65 (permalink)
 spideysteve 
Fort McMurray, AB Canada
 
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GTR is funding traders as well I see

Anyone tried this approach with them?

Get Funded - Global Trade Room

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  #66 (permalink)
 lemons 
Market Wizard
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  #67 (permalink)
 Fxfutures1976 
London
 
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TCYSNJ992 View Post
Hi All,
Thank you for your inputs on this subject.
Especially those of you who have joined GTR and now giving your experience.
I have attended a couple of their free Tues trials was just thinking of joining this room but thanks to you, I think I'll put that on hold for a while...


Just wondering... Are there any "recommended" trade rooms out there??

This is why forums are so great,

If someone can be saved $1000's and a lot of time wasted in dodgy trade rooms by reading peoples experiences, then its a huge benefit.

Big Thanks to big Mike.

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 dk27 
Europe
 
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In here they are rated as fraud.

Global Trade Room - Trading Schools.Org

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 Fxfutures1976 
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dk27 View Post
In here they are rated as fraud.

Global Trade Room - Trading Schools.Org

Looks like the games up for Simon (The Knife) yousef. Bob (big mouth bang bang) Amico, and Sandy (excited ) Seghal.

Need to add another name to the list, Dimitri the donut. Just watched his youtube video trying to cover up the fact that the GTR are no good .

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 forgiven 
Fletcher NC
 
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TCYSNJ992 View Post
Hi All,
Thank you for your inputs on this subject.
Especially those of you who have joined GTR and now giving your experience.
I have attended a couple of their free Tues trials was just thinking of joining this room but thanks to you, I think I'll put that on hold for a while...


Just wondering... Are there any "recommended" trade rooms out there??

trade rooms are ran by vendors. they are like pinguins ...birds that can not fly. they just teach trading ... they just can not real do it. stay out of them and do not buy any trading software. try learning swing trading , befor you try day trading. 99% of day traders fail . only 90% of swing traders fail. so you have a better chance.

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 billr 
San Antonio, Texas USA
 
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I happened to just see this thread, so my response is a little late. I have been a member of the GTR for several years. I have also been an elite member of Big Mikes for longer than that. If you have any questions regarding my experience with the GTR, I would be happy to give my opinion. I will say my experience with GTR has been positive and much of what has been written seems inaccurate or inconsistent with my experiences with Simon and GTR.

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 Fxfutures1976 
London
 
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billr View Post
I happened to just see this thread, so my response is a little late. I have been a member of the GTR for several years. I have also been an elite member of Big Mikes for longer than that. If you have any questions regarding my experience with the GTR, I would be happy to give my opinion. I will say my experience with GTR has been positive and much of what has been written seems inaccurate or inconsistent with my experiences with Simon and GTR.

You are joking aren't you?? are you on the payroll??

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 billr 
San Antonio, Texas USA
 
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No, I'm not joking. Nor on the payroll. I would be happy to discuss.

Upon reviewing your and others comments, it seems to me you are judging the room negatively because it is not the holy grail. You cannot judge this room or any other method of teaching against a shortcut to guaranteed success. I would think everyone here would agree that chasing that holy grail is unproductive. I'm not particularly interested in making a broad pitch for the room but if you state what your experience and problem was, I would be happy to comment only because I find the room far superior to most of what is out there.

What I will say is that Bob and Sandy are no longer affiliated with Simon. Bob and Sandy were good guys. Bob was the salesman for Simon and sold pretty hard. And sometimes I felt he emphasized ticks per day in a way that portrayed the room primarily as a trade signal service. As a trader, he had some good runs, but in my opinion his personality was not consistent with Simon's. On many occasions I felt that his loud style and tendency to talk over everyone created some stress and confusion. So I won't argue with some of the complaints about the environment being confusing. But those days were for a relatively short time and the GTR is back to its natural tone.

Regarding the comments about magnets, indicators and names he uses, I can't speak for Simon, but if you pay attention to what he is teaching, I think you would find that the names are shortcuts for subsets of his methods. For instance when he refers to a "knife", it's not a marketing gimmick. It's simply a way to describe a certain set of circumstances and how he trades them. Its all part of his teaching style. If you spent any amount of time in the room or in his teaching sessions, you would see first hand how these names come about. They are mostly made up casually on the fly, in front of the students as discussions on a certain trade and his description of how he sees the market.

I just want to give a little more thoughtful perspective for anyone considering the GTR. It's not for everyone, but believe that Simon is sincere in his efforts to teach and absolutely not a scam. Again, if you have a specific complaint or question, I'd be happy to respond.

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 sharmas 
Auckland
 
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Hi Billr

How about you post your trades records to everyone to see if you have been taking those trades as called in the room

Would go a long way to verify your claim and remove any negativity from people as lack of facts does leave room for doubts

Sharmas


billr View Post
I happened to just see this thread, so my response is a little late. I have been a member of the GTR for several years. I have also been an elite member of Big Mikes for longer than that. If you have any questions regarding my experience with the GTR, I would be happy to give my opinion. I will say my experience with GTR has been positive and much of what has been written seems inaccurate or inconsistent with my experiences with Simon and GTR.


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 billr 
San Antonio, Texas USA
 
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Hello Sharmas,
I think the suggestion that my trading performance is confirmation of the GTR misses my point.
I'm simply offering my assessment and experiences of the GTR for those that are seeking insight into trading. A little background: I consider myself very competent and analytical. I also admit I had a hell of a time when I first started trading. I was convinced there was something fundamental and quantifiable about the market that I was missing and just needed to find it. Not the holy grail per se, but a hidden trade secret or something that was keeping me from seeing the market correctly. Joining Big Mikes was a good start. But what really started waking me up from my misguided attempts to create an entirely mechanical trading system was 1) spending some time with Discovery Trading Group after seeing their webinars on Market Delta's site; then 2) I found FT71's webinar series and continue to follow him; and finally 3) joining the GTR. (wasn't called that back then). The most significant contribution to my trading was Simon's room. Why? Because it allowed me to witness first hand, a profitable trader using the volume profile and simple trade management that worked. And it was live every day. Before this, I was starting to doubt whether any retail traders were making money consistently and it was very important for me to see it done live. It also was a much needed compliment to the way I had started to see the market.

So, respectfully, my trading records are not particularly relevant. And I am not claiming GTR will guarantee you will become a profitable trader. But if it doesn't, its not because there is a problem with the GTR. The GTR provides you an opportunity to watch traders trade a live market, explain what they see and why they are trading it. Yes, it is possible to catch some of their trades. It is also possible to anticipate and catch almost all their trades if you have the ability to focus. And they will follow up with any questions and try to bring all members up to speed on how they trade. But the type of complaints I read here do not lead me to believe that they gave it enough time or effort to benefit from the GTR. Becoming a good trader requires lots of work, the GTR does not pretend to change that. But I argue it will provide traders a good resource if they choose to use it.

Shamas, if you want me to address specifics, let me know. [for the record, I have not been trading consistently over the last year. I am only slightly positive after fees. I attribute that to a life changing distraction that has kept me from the proper focus and an inability to adhere to my trading plan. But it is not a reflection on the GTR.]

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  #76 (permalink)
 billr 
San Antonio, Texas USA
 
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Sharmas, after re-reading your post I'll try to make my point more concisely:

To claims that no one should join rooms because they only can teach but not actually trade: Nonsense. This is verifiable without even joining. Just attend some of the free trial days.

Simon is only front running: Watch carefully. I think you will see that he is not trading in a way that would be conducive to that. More importantly, no matter what some might think is trickery, have you ever been in a room that someone was calling trades at the entry point? Even if he wasn't taking his own trades, try calling trades yourself or trading sim. Can you match his consistency? Would you stay in the trades as long as he does to capture the runners? How can he or anyone fake this in a live trading environment daily? Impossible!

Post results to prove it works: Wrong question. "it' implies a black box type system or set of trade signals that should be able to be switched on and get results. One of the first things I picked up largely here at Big Mike's, is the idea of an off the self trading system is essentially searching for the holy grail and would not be a legitimate goal for traders. Simon is not claiming to teach a holy grail system. He is showing you how to trade like he does so you can incorporate that into your trading method. Its discretionary and requires work to read the market the way he does. Yes, he has some tools he developed but he is the first to emphasize that they are not necessary for success.

Regarding the site that claims fraud
: Dishonest site.

Disclaimer: I am certainly not speaking for Simon. As a matter of fact, I have only spoken to him via email about 3 times over the last 4 years. So as far as I know, he may have an issue with some of what i am saying here.

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  #77 (permalink)
 Fxfutures1976 
London
 
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billr View Post
No, I'm not joking. Nor on the payroll. I would be happy to discuss.

Upon reviewing your and others comments, it seems to me you are judging the room negatively because it is not the holy grail. You cannot judge this room or any other method of teaching against a shortcut to guaranteed success. I would think everyone here would agree that chasing that holy grail is unproductive. I'm not particularly interested in making a broad pitch for the room but if you state what your experience and problem was, I would be happy to comment only because I find the room far superior to most of what is out there.

What I will say is that Bob and Sandy are no longer affiliated with Simon. Bob and Sandy were good guys. Bob was the salesman for Simon and sold pretty hard. And sometimes I felt he emphasized ticks per day in a way that portrayed the room primarily as a trade signal service. As a trader, he had some good runs, but in my opinion his personality was not consistent with Simon's. On many occasions I felt that his loud style and tendency to talk over everyone created some stress and confusion. So I won't argue with some of the complaints about the environment being confusing. But those days were for a relatively short time and the GTR is back to its natural tone.

Regarding the comments about magnets, indicators and names he uses, I can't speak for Simon, but if you pay attention to what he is teaching, I think you would find that the names are shortcuts for subsets of his methods. For instance when he refers to a "knife", it's not a marketing gimmick. It's simply a way to describe a certain set of circumstances and how he trades them. Its all part of his teaching style. If you spent any amount of time in the room or in his teaching sessions, you would see first hand how these names come about. They are mostly made up casually on the fly, in front of the students as discussions on a certain trade and his description of how he sees the market.

I just want to give a little more thoughtful perspective for anyone considering the GTR. It's not for everyone, but believe that Simon is sincere in his efforts to teach and absolutely not a scam. Again, if you have a specific complaint or question, I'd be happy to respond.

I find your comments very patronizing. No one said they were looking for 'the holy grail' because it does NOT exist.
Everyone is entitled to their own opinion of the GTR, mine was very negative and I believe they are a scam.

After getting sucked into the scam a few years back I started to question the trade results after a few months in the room as I was NOT getting the fills or results that they claim they were getting.
Simon , Bob or Sandy would NOT prove to me they were getting the results and made many excuses.

Why don't you ask yourself that same question? you have been a member for many years and you say you are only just positive this year. If you have been with the GTR then maybe you should be up 1000's of ticks as Simon claims or are you deluded.

Simon , Bob & Sandy are NOT good traders and NOT worthy. Bob & Sandy are doing their own thing and I hear its just as Bad as the GTR. The only thing Simon cares about is money.

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  #78 (permalink)
 sharmas 
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Global Trade Room - Trading Schools.Org

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  #79 (permalink)
 billr 
San Antonio, Texas USA
 
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FxFutures1976:
Tone is difficult to express in print, but I wasn't intending to be patronizing. But your tone of accusations and insult is quite clear. I assume it is because you are frustrated or feel you have been deceived. I get that. Knowing what Simon's room is really like, I thought my willingness to discuss might shed a different light on what is happening in the GTR. But I am not interested in responding to all the negative comments by providing proof that if you join the GTR you can just follow trade signals and make money. That is essentially the standard you put forward. I am only interested in defending the truth from my perspective.

Going back to my basic premise: If there is someone out there that can trade profitably and let you watch while he's doing it live, isn't just that alone a potentially valuable resource? Simon does that. And he offers to teach you how he does it. Without a time limit. What about this do you think is not true? Whether it works for you is a different question. But it is certainly not a scam!

I don't want to get too deep into the topic of Bob, but I will grant you that his trading was very difficult to follow, and yes, some trades impossible unless you knew in advance. He was very energetic and approached trading aggressively. I don't believe he had any ill will or was trying to do anything but help students, but his style certainly brought a change to the room compared to the way it was prior to his joining. In my opinion it was a mismatch for Simon's teaching personality. He is no longer there. Assuming you are a member, I would suggest you give it a second look.

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  #80 (permalink)
 Fxfutures1976 
London
 
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billr View Post
FxFutures1976:
Tone is difficult to express in print, but I wasn't intending to be patronizing. But your tone of accusations and insult is quite clear. I assume it is because you are frustrated or feel you have been deceived. I get that. Knowing what Simon's room is really like, I thought my willingness to discuss might shed a different light on what is happening in the GTR. But I am not interested in responding to all the negative comments by providing proof that if you join the GTR you can just follow trade signals and make money. That is essentially the standard you put forward. I am only interested in defending the truth from my perspective.

Going back to my basic premise: If there is someone out there that can trade profitably and let you watch while he's doing it live, isn't just that alone a potentially valuable resource? Simon does that. And he offers to teach you how he does it. Without a time limit. What about this do you think is not true? Whether it works for you is a different question. But it is certainly not a scam!

I don't want to get too deep into the topic of Bob, but I will grant you that his trading was very difficult to follow, and yes, some trades impossible unless you knew in advance. He was very energetic and approached trading aggressively. I don't believe he had any ill will or was trying to do anything but help students, but his style certainly brought a change to the room compared to the way it was prior to his joining. In my opinion it was a mismatch for Simon's teaching personality. He is no longer there. Assuming you are a member, I would suggest you give it a second look.

Your wrong again. The standard I put forward is to get an honest and transparent trade room that I could learn from and profit....isn't that the least we should expect from a trade room for $8000??
I have been learning the art of trading for many years and only recently found consistent results.
I know a scam when I see one.

If you are happy to pay that money and not make progress then more fool you.
Simon's call are impossible to follow and I doubt very much that he does NOT get filled on more than half what he says.

For you to defend him so vigorously I believe you have some affiliation with him , like many do in his trade room that back him to the hilt.
If Im wrong, then ask him to show his DOM or get his trade history from his ninjatrader platform. very easy to do, but he will make excuses.

As you said, do NOT respond to my 'negative' comments because that is all you will get regarding the GTR and I wont bother responding to your comments.

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  #81 (permalink)
 jokertrader 
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Seems they are going for a just a few ticks with no real pattern to entry.. just hoping for a counter bounce. and they keep saying i am in. .i know and we know.. this is not how things work unless u are hitting the market..and then u are always loosing a few ticks..

the idea of a real trader and a real room is great for us trying to get consistent.. but there has to be some method.. anyone post a video of where he took a trade and explained his methodology for that?

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  #82 (permalink)
 ironman07 
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Bill I believe you answered Sharmas question as to your profit in saying you were only marginally profitable over the course of a year in the GTR room. Obviously you couldnt follow his trades because he isnt trading a live account and won't share any statements cause none exist. If you feel is fun to spend $8000 because Simon might rub off on you then you've missed the whole point of learning any method-- to make $$$$. If your trading full time and not making a minimum of $50000 then you are just wasting your time .Trying to constantly defend GTR without any concrete proof of a trading statement showing profits they claim is like constantly running in front a a truck.

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  #83 (permalink)
 billr 
San Antonio, Texas USA
 
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As I have stated, I have no affiliation with GTR/Simon other than being a member. At the beginning of this thread, some wanted opinions from members. Thats all I was offering. Good luck.

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 trader1111 
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I've traded for 20+ years in Futures and in FX as an institutional manager and CTA.

I can see how the GTR method may be appealing if you are relatively new to trading (say less than 5 years experience) BUT........

The education they offer can be had by reading about market profile or volume profiling. Don't send this guy money ! If he runs a special membership rate less than $500.00 ALL IN per YEAR, then it is worth it, but for any amount over this it is a waste.

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 jmh13 
Argentina
 
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Simon's new and improved room. Any members of this room want to share good , bad and ugly? THX

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  #86 (permalink)
 sleip 
Karlsruhe, Germany
 
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before someone thinks about wasting his money, just ask yourself:

- why did Simon change the website ?
- why is Simon not trading a real account, just SIM ?

Simon never claimed to trade real money. There was a statement from him where he clarifies he`s trading SIM. If my mentor ist not able to trade for a living because he´s only on SIM,why should i think he`s trading is profitable?
Lerning to put an order on a lvn is not worth the 8K.

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  #87 (permalink)
 Fxfutures1976 
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sleip View Post
before someone thinks about wasting his money, just ask yourself:

- why did Simon change the website ?
- why is Simon not trading a real account, just SIM ?

Simon never claimed to trade real money. There was a statement from him where he clarifies he`s trading SIM. If my mentor ist not able to trade for a living because he´s only on SIM,why should i think he`s trading is profitable?
Lerning to put an order on a lvn is not worth the 8K.

Complete SCAM. DO NOT WASTE YOUR MONEY WITH THAT RAT SIMON YOUSEF.

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  #88 (permalink)
 Cloudy 
desert CA
 
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Fxfutures1976 View Post
Complete SCAM. DO NOT WASTE YOUR MONEY WITH THAT RAT SIMON YOUSEF.

GTR has been exposed!
Thanks to tradingschools and people who filed CFTC complaints,

"On September 10, 2019, the CFTC filed a formal complaint alleging fraud against Simon Jousef."

"In the complaint, the CFTC investigated Simon Jousef and discovered the following:
.
That Simon Jousef claimed to be trading “live.” Yet, the CFTC discovered that he never even had a trading account.
.
.
That he had never earned a profit trading Futures or Forex.
All of the customer testimonials were fraudulent.
The spreadsheet of supposed “real” trades were all fraudulently created."


(what I'd often suspected of these marketed expensive dubious trading room vendors, that they never traded live or had old losing accounts)
By affiliation, it seems likely Dean Handley & Bob Amico (now Veritas futures trading) were all in on it also and are all now under investigation.

https://www.tradingschools.org/reviews/the-trader-institute-global-trade-room-dr-dean-handley/

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  #89 (permalink)
 MiniP 
Market Wizard
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Cloudy View Post
GTR has been exposed!
Thanks to tradingschools and people who filed CFTC complaints,

"On September 10, 2019, the CFTC filed a formal complaint alleging fraud against Simon Jousef."

"In the complaint, the CFTC investigated Simon Jousef and discovered the following:
.
That Simon Jousef claimed to be trading “live.” Yet, the CFTC discovered that he never even had a trading account.
.
.
That he had never earned a profit trading Futures or Forex.
All of the customer testimonials were fraudulent.
The spreadsheet of supposed “real” trades were all fraudulently created."


(what I'd often suspected of these marketed expensive dubious trading room vendors, that they never traded live or had old losing accounts)
By affiliation, it seems likely Dean Handley & Bob Amico (now Veritas futures trading) were all in on it also and are all now under investigation.

https://www.tradingschools.org/reviews/the-trader-institute-global-trade-room-dr-dean-handley/

$8,900
who the fuck would give this guy money based off that shitty website, he spelled "blew up" like blue up...
sometimes you feel bad when people get ripped off but almost 9k for a trading room and a course .. god help these people

( not targeted at you cloudy)
-P

"Truth is not what you want it to be; it is what it is, and you must bend to its power or live a lie"-Miyamoto Musashi
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  #90 (permalink)
 Cloudy 
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MiniP View Post
sometimes you feel bad when people get ripped off but almost 9k for a trading room and a course .. god help these people

( not targeted at you cloudy)
-P

Yes, it's sad that many were suckered. "From 2014 to 2016, Simon Jousef sold consumers a total of $1,300,000 in live trading room subscriptions and magical magnet trading indicators." Fortunately for myself I had wised up before coming across GTR and the like. It may be another good first step by the CFTC to make inroads exposing this overall sordid business of selling dreams. Syke's empire and bought out shilled review sites has made far more many millions and Warrior Trading is getting up there as new hapless newbs continue to start to discover "trading vendors".

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  #91 (permalink)
 TraderTS 
Texas, USA
 
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FYI
This was the checklist for my ideal Live Trading Room after I attended the GTR trial... years ago.
I prepared it for my Trading Partner at the time; the entire team left Simon Jousef to open their own live trading room... shortly after.
Sadly, this new room even worst off than I've ever been in.


Find the missing piece of the puzzle... Let's be amazing, be awesome in trading today!
iTS
Attached Files
Register to download File Type: docx docChecklist for my ideal LiveTradingRoom.docx (22.9 KB, 32 views)
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  #92 (permalink)
 MiniP 
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Cloudy View Post
Yes, it's sad that many were suckered. "From 2014 to 2016, Simon Jousef sold consumers a total of $1,300,000 in live trading room subscriptions and magical magnet trading indicators." Fortunately for myself I had wised up before coming across GTR and the like. It may be another good first step by the CFTC to make inroads exposing this overall sordid business of selling dreams. Syke's empire and bought out shilled review sites has made far more many millions and Warrior Trading is getting up there as new hapless newbs continue to start to discover "trading vendors".

never delt with warrior but I did but first starting out I did put a payment down on sykes stuff and ended up getting a refund.
But there are a few problems in this realm of business.
1) obviously its hard to tell what people make money and what people don't
2) not everything is guaranteed to work, I could show you how I make money and it might not work for the next person. So then the person that it didn't work for because of there personality shits all over the "vendor"
3) the entire world has a false view of what this thing called "trading" is really about. Its hard work no other way around it. I've met a view guys who got into it with out much work but those are rare.

and how is this different then those fat loss pills that are said to make you lose 2 pant sizes in a week. Business is all about selling dreams to consumers, it always has been and always will be like that.

I think its bad that people got ripped off and there should be some sort of regulation on these types of things
but it would have to be flexible to a certain extant. c

also side not- sykes is much smarter about how he hands out his info. In big font on everything he sells it says "for entertainment purposes only" this is where he saves his ass.

-P

"Truth is not what you want it to be; it is what it is, and you must bend to its power or live a lie"-Miyamoto Musashi
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  #93 (permalink)
 Cloudy 
desert CA
 
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MiniP View Post
never delt with warrior but I did but first starting out I did put a payment down on sykes stuff and ended up getting a refund.
But there are a few problems in this realm of business.
1) obviously its hard to tell what people make money and what people don't
2) not everything is guaranteed to work, I could show you how I make money and it might not work for the next person. So then the person that it didn't work for because of there personality shits all over the "vendor"
3) the entire world has a false view of what this thing called "trading" is really about. Its hard work no other way around it. I've met a view guys who got into it with out much work but those are rare.

and how is this different then those fat loss pills that are said to make you lose 2 pant sizes in a week. Business is all about selling dreams to consumers, it always has been and always will be like that.

I think its bad that people got ripped off and there should be some sort of regulation on these types of things
but it would have to be flexible to a certain extant. c

also side not- sykes is much smarter about how he hands out his info. In big font on everything he sells it says "for entertainment purposes only" this is where he saves his ass.

-P

My points stand corrected even if taken out of context. Business is business, which can involve selling dreams, but not justified as fraud shenanigan business by fakes who don't really trade with false marketing points and supposed real but faked history of "winning" trading results, and should be stopped and alerted to potential victims particularly the plethora of newcomers to retail trading every year or season who are the primary prey targets of these scams. The CFTC have finally started investigating these vendors more since 2015 thanks to tradingschools and people finally sending in CFTC complaints. They have gotten away with it for too long, unlike fake dream pills which have plenty of counter criticism and review in the media, this sordid industry had worked too much of the niche trading web media and past review sites inundated with fake and shilled testimonials to their advantage, so I'm not buying anymore excuses , or shilled reviews and forums & blogs (some Sykes and others actually buy off (ex. trustpilot, investimonials) or create fake review blogs and testimonials on the web).

Yeah, I tried Sykes years ago too, and had to fight for my refund. All his calls were losers and I suspect now he was pumping longs, and there was no volume for his short calls. Yep Sykes is the biggest snake of them all. (https://www.tradingschools.org/) Typical pump and dump of members that Bond and Warrior's Ross also emulate.

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  #94 (permalink)
 Cloudy 
desert CA
 
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"Emmett Moore September 13, 2019

On this review…the scorching was well deserved. Simon lied, and he lied repeatedly. CFTC and NFA investigators went right to the core — he never even had a trading account. That in itself is outrageous.
.
.
At this point, I am sick and tired of dealing with Federal subpoenas regarding Simon Jousef, Bob Amico, Sandy Seghal, Dean Handley and Kai Whitney (all parties involved). Federal investigations are a big time suck for me because I have to put all the evidence together (emails, video recordings, phone recordings, notes, spreadsheets, etc.)

The big question is whether this case gets picked up by the Justice Department and referred for criminal investigation. It should be. This is clear cut fraud."


, https://www.tradingschools.org/reviews/the-trader-institute-global-trade-room-dr-dean-handley/#comment-3054051

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 jmh13 
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Here is one.


RELEASE Number
8006-19
September 10, 2019
CFTC Charges Trading Systems Firm and its Principal with Solicitation Fraud and False Statements
Washington, DC –The U.S. Commodity Futures Trading Commission today filed a civil lawsuit in the U.S. District Court for the Southern District of New York against Canadian resident Simon Jousef and his business FuturesFX. The defendants are charged with fraudulently soliciting people, in the U.S. and abroad, to subscribe to a trading system that included a supposedly “live” foreign exchange (forex) and commodity futures online trading room, educational videos, and online support (trading system). In addition, the CFTC’s complaint charges Jousef with making false or misleading statements to the National Futures Association (NFA).
Specifically, the CFTC complaint alleges that from at least July 1, 2014 to on or about January 31, 2016, Jousef and FuturesFX fraudulently promoted and sold access to the trading system ostensibly to provide, among other things, a methodology for determining when to enter and exit forex and commodity futures contracts. According to the complaint, to induce members and prospective members to purchase subscriptions to the trading system, the defendants made numerous materially false or misleading statements and omissions on the company’s websites at futuresfx.ca and globaltraderoom.com, in the online trade room, and in email advertisements, including:
Falsely or misleadingly claiming that Jousef was trading forex and commodity futures in a “live trading room,” when in fact Jousef never actually traded and only made hypothetical or simulated trades;
Falsely claiming that Jousef’s “live” trades were profitable when in fact Jousef never executed any live trades in the “live trading room,” much less profitable ones;
Making false and misleading statements concerning Jousef’s background and trading experience, including that Jousef was registered with the CFTC as a commodity trading advisor (CTA) when, in fact, he was not;
Misrepresenting the risks associated with trading forex and futures contracts, such as advertising “Free Money” and “A Guaranteed Winning Formula;”
Failing to provide proper disclosures concerning client testimonials and hypothetical or simulated trading results.
The defendants allegedly charged members up to approximately $9,000 to receive this access to the trading system. The CFTC’s complaint alleges that, as a result of the fraudulent solicitation scheme, the defendants received approximately $1.3 million in subscription fees from more than 300 members located in the United States and other countries.
In addition, the complaint alleges that Jousef knowingly made false or misleading statements regarding material facts to the NFA when he submitted annual CTA registration updates concerning FuturesFX’s predecessor company.
In its continuing litigation, the CFTC seeks a return of ill-gotten gains, restitution to defrauded customers, civil monetary penalties, trading and registration bans, and permanent injunctions against further violations of the federal commodities laws.
The CFTC appreciates the cooperation and assistance of the NFA and Ontario Securities Commission in this matter.
CFTC Division of Enforcement staff members responsible for this case are Steve Kim, Kara Mucha, Kathleen Banar, and Rick Glaser.
CFTC’s Fraud Advisories: Commodity Trading Systems Sold on the Internet
The CFTC has issued several customer protection Fraud Advisories that provide the warning signs of fraud, including the Commodity Trading Systems Sold on the Internet Advisory, which states that the CFTC has seen an increase in websites fraudulently promoting commodity trading systems and advisory services.
Customers can report suspicious activities or information, such as possible violations of commodity trading laws, to the CFTC Division of Enforcement via a Toll-Free Hotline 866-FON-CFTC (866-366-2382) or file a tip or complaint online.
-CFTC-

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  #96 (permalink)
 jmh13 
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Please recommend the next pirate? I am sure everyone got at least one. Who makes the top of your list.

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  #97 (permalink)
 cory 
the coin hunter
virginia
 
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Posts: 6,046 since Jun 2009
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this thread itself is 6 year old. It goes to show some scam can go for a long time.

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 dk27 
Europe
 
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My favorite Johnny Depp in Pirates of the Caribbean, yours?



jmh13 View Post
Please recommend the next pirate? I am sure everyone got at least one. Who makes the top of your list.


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 jmh13 
Argentina
 
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Yes Johnny Depp was a truly great pirate. But my all time favorite was Franz from Traders International back in the early 2000's. Claimed he was making 1 million pounds of treasure a day. Until he was exposed at the NYC traders Expo.

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