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tradingthetape.com

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  #11 (permalink)
 sands 
London + UK
 
Experience: Advanced
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ewex View Post
I'd be interesting in hearing the experiences of actual members? Were they profitable with his proprietary order flow software? You can't expect he's going to teach you without you being a member.

I don't dispute that, but equally you'd not be asking this question if he put enough information / a flavour on the website :-) which may be a good or bad statement about the product. For example if I'm interested in studying a course I do need some literature to base that decision on not just that they teach the subject. I'd not know if it was structured/taught in a way that matched my needs.

The question I would also ask is if it helped members to independently trade. As that's the problem with most trading rooms, members may end up making money however they may not be able to follow the principal trader, nor get consistent direction, nor be able to learn to do it independently. etc

In and of itself learning order flow is useful as a skill, I also want to find out how members would rate how that process is structured. And what the software consists of? A dom? And t&s ? What is it?

Any members of this room?

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  #12 (permalink)
 chessbase 
Phoenix, Arizona
 
Experience: Intermediate
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Trading: ES, 6E
 
Posts: 15 since Sep 2011
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First of all I would like to say that I feel Scott training is vastly under-priced!!! - If someone can train you to trade profitably, in about 2 weeks, how much would you pay????? Scott has told us that if we are not profitable within 2 weeks he would do a one-on-one with us to see why - Where else have you EVER heard someone say anything like that! Has any ever heard of any other site, or software, or indicator vendor say that if you are not profitable in 2 weeks they would do a one-on-one with you to find out why??? It seems more like the opposite - If you ARE profitable within 2 weeks of using their system I'm sure they would like to find out HOW YOU ARE MAKING MONEY WITH THEIR SYSTEM!

I have now been trading this method successfully now for the last 4 weeks.

Right now, I still only trade the ZB and my success rate is about 6-7 out of 10, with 2-3 scratches out of 10 and 1 loser out of 10. The ZB is about $31 per tick, with about $3 commissions - So this success rate works out really well for me. There is another trader on his site that said his success rate is over 80% - Which I know is normally not believable with a trading system. But, this is not a trading "system", so actually I believe it!

TradingTheTape teaches its subscribers how to trade - period! The chat room is not a place where Scott tells us when to make our trades. Rather, it is where Scott gives us his market read, so that we can verify whether we understand what the order flow is telling us. I have not been in his chat room for the last 3 weeks or so because it just distracts my trading.

Since I have joined, Scott has put a 16 minute video on his webpage that is PRICELESS!!!! He tells all his subscribers that this video is the most valuable video on his whole website (out of 70+ videos). He tells us we cannot watch this too many time! I have put the video on my ipad, and my iphone so I could watch it whenever I have a free moment. This video teaches you almost everything you need to know to scalp the ZB. It covers about 8 minutes of market replay, which he pauses, from time to time, and tells you how to read the order flow at that moment. If he added just a little more information in that video, I think that it would easily be worth the $750 he charges for his site for 3 months.

I only scalp. I never could trade trends. I would almost always buy the top and sell the bottom of moves. I Thought that I would give Scott's method a try in trading trends. I made 2 trades. I actually bought the very top on trade #1, then sold the very bottom on trade #2. I will never try trading trends again!!!!! This is not to say that Scott's method to entering trends is bad - I just could never trade them. Actually, Scott's method makes a lot more sense then any other method I found - I just cannot do it.

So, if you are a scalper, Then I HIGHLY recommend tradingthetape! If you are a trend trader, this method sure makes more sense then any other way I heard of (e.g., if this MA moves above this MA, if the ADX is above this number, if this indicator...) - I just cannot verify how well it works for trend trading.

Good luck in your trades everyone,

Mike

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  #13 (permalink)
 Devil Man 
Legendary Market Wizard
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@chessbase....just curious...do you work for tradingthetape.com? and are you trading cash...or sim??

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  #14 (permalink)
 ewex 
Philadelphia
 
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chessbase View Post

So, if you are a scalper, Then I HIGHLY recommend tradingthetape! If you are a trend trader, this method sure makes more sense then any other way I heard of (e.g., if this MA moves above this MA, if the ADX is above this number, if this indicator...) - I just cannot verify how well it works for trend trading.

Are there videos and teachings to trade trends with this system? Are other members doing it? How many ticks do you usually scalp at a time?

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  #15 (permalink)
 chessbase 
Phoenix, Arizona
 
Experience: Intermediate
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Trading: ES, 6E
 
Posts: 15 since Sep 2011
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Devil Man View Post
@chessbase....just curious...do you work for tradingthetape.com? and are you trading cash...or sim??

Hi, No I do not work for tradingthetape.com. I guess I do sound a little too enthusiastic about it - That's because it works, and what's taught makes SENSE!

I have been trading cash for the last month. I also practice about an hour a day in replay mode. My success rate I quoted earlier was from my cash account.

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  #16 (permalink)
 chessbase 
Phoenix, Arizona
 
Experience: Intermediate
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Posts: 15 since Sep 2011
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ewex View Post
Are there videos and teachings to trade trends with this system? Are other members doing it? How many ticks do you usually scalp at a time?

Yes, he teaches how to trade trends. I don't really know how other members are doing, except for the member that said that his success rate was over 80%.

I scalp for 1 tick every time.

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  #17 (permalink)
 justtradeit84 
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chessbase View Post
Yes, he teaches how to trade trends. I don't really know how other members are doing, except for the member that said that his success rate was over 80%.

I scalp for 1 tick every time.

Why only 1 tick? Why not scalp for 2 or 3 ticks? Can his method be able to scalp 2,3 ticks in ZB? How different is his method and automatic stategy compared to just starring at Jigsaw DOM?
you scalp using his automatic or manual feature?
Why cant he offer one month membership instead of forcing people to sign up for 3 months at first?

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  #18 (permalink)
 phantomtrader 
Reno, Nevada
 
Experience: Advanced
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Look, the method and the program are very good. Why don't you just give a it shot for a month? Taking the opinion of other people is really meaningless - you have to try it yourself and decide. There's one thing for sure - order flow and trading off the tape and DOM are key to being successful in this business. Few would disagree with that.

I don't know if Scott has ever done a webbie on Big Mike's. But you can always check out his videos on YouTube.

Again, for what he charges, it's worth the time, effort and money to get this kind of education.

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  #19 (permalink)
 chessbase 
Phoenix, Arizona
 
Experience: Intermediate
Platform: NinjaTrader
Trading: ES, 6E
 
Posts: 15 since Sep 2011
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justtradeit84 View Post
Why only 1 tick? Why not scalp for 2 or 3 ticks? Can his method be able to scalp 2,3 ticks in ZB? How different is his method and automatic stategy compared to just starring at Jigsaw DOM?
you scalp using his automatic or manual feature?
Why cant he offer one month membership instead of forcing people to sign up for 3 months at first?

You can only get 1 tick with The way that he teaches how to scalp . He only has an automatic feature for trend trading not scalping - Scott says that he doesn't use the automatic features himself anymore. He scalps, and trend trades using only the manual features.

I feel $750 is extremely under-priced! What would you pay to be taught to trade profitably?? I would be willing to pay a lot more than $750!

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  #20 (permalink)
 Big Mike 
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chessbase View Post
What would you pay to be taught to trade profitably?? I would be willing to pay a lot more than $750!

Your naivety is showing.

Please tone down the cheerleading for this vendor, your posts sound as if they were written by the owner of the site for marketing purposes. Marketing aimed at inexperienced traders.

You've posted your review. You think the guy is the best thing since sliced bread, we get it. Now please move on so others can post their reviews in the thread. And please try to come back in a year and confirm for us you are no longer using this method (90% certain -- has nothing to do with this specific vendor, it's just the way all "systems" from vendors work and the way inexperienced traders get caught up in the hype).

Mike

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