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Jim Dalton - S&P Accelerated-Learning Intensive


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Jim Dalton - S&P Accelerated-Learning Intensive

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  #21 (permalink)
 SBtrader82 
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geistflow View Post
I'd be interested in looking into more of what Dalton has released one day, but am I correct in thinking he mostly uses futures options when he does place a trade? I remember seeing a few videos on Youtube where that was mentioned. I wonder if that would affect the style.

Yes, he does not trade futures but options on the etf (not options on futures). He does not use any "advanced" options strategy like straddles, iron condors etc....he basically only buys calls or puts. To be more specific since he only trades the ES, he buys calls or puts on the SPY.


He never shows trades in real time, he only says "yesterday when I saw the market breaking I immediately realized it was not serious money selling, and I bought some calls..... "
the next day there is a rally, and when the rally is over he says: "early this morning I realized that the rally was nothing more of short covering, and not serious money buying and I sold my calls".

You can chose to believe him or not, but since he is old you will probably assume that he is not a scammer. I don't believe it either, but considering he is making some hundreds thousands dollars in each intensive it would be more honest to show his brokers statements.






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  #22 (permalink)
geistflow
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SBtrader82 View Post
Yes, he does not trade futures but options on the etf (not options on futures). He does not use any "advanced" options strategy like straddles, iron condors etc....he basically only buys calls or puts. To be more specific since he only trades the ES, he buys calls or puts on the SPY.


He never shows trades in real time, he only says "yesterday when I saw the market breaking I immediately realized it was not serious money selling, and I bought some calls..... "
the next day there is a rally, and when the rally is over he says: "early this morning I realized that the rally was nothing more of short covering, and not serious money buying and I sold my calls".

You can chose to believe him or not, but since he is old you will probably assume that he is not a scammer. I don't believe it either, but considering he is making some hundreds thousands dollars in each intensive it would be more honest to show his brokers statements.


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Thanks for clarifying on which options he trades. Would be good to hear if he gets deeper into the reasonings as to why he thinks a situation is only short covering rather than 'serious money buying' for example. I enjoyed the CBOT book on market profile and heard Dalton is one of the market profile as a standalone tool's proponents so it would be interested to hear the details of the explanations.

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 SBtrader82 
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geistflow View Post
Thanks for clarifying on which options he trades. Would be good to hear if he gets deeper into the reasonings as to why he thinks a situation is only short covering rather than 'serious money buying' for example. I enjoyed the CBOT book on market profile and heard Dalton is one of the market profile as a standalone tool's proponents so it would be interested to hear the details of the explanations.

yes I think he explains this in his courses quite well, but the problem is that 99% of the time he will say "this is not serious money buying" and "this is not serious money selling", which seems as the perfect excuse for either not taking a trade or for justifying (a posteriori) any retracement.
At the beginning you will like it, then you will start to ask yourself "so what?".

Jim Dalton uses only the market profile, which is good for his style that is a sort of swing trading that last a couple of days or less, but I think if you trade futures only with market profile you can lose a ton of money.
Markets have changed, people use more tools.
After taking Jim's courses I came to the (false) conclusions that true trader use only the market profile....in reality many don't even use it.
I traded out of market profile only for 6+ months, I lost in total 85K USD.
It was not market's profile fault, or Jim's fault.... I was the one to blame.

I think that anyone needs to find his own style and I was trying to emulate Jim's style.

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