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"... so I assume the purchase was based on greed. ..."
Think this applies TO EVERY SINGLE PERSON who has as ever endeavored to enter the realms of financial trading
The entire motivation of the financial industry is greed. Does not mater whether you are Warren Buffet, George Soros, or little Tommy trading from his bedroom.
Anyway, think the poster has missed the point entirely. As I keep saying, no one is saying the system that is taught in the room doesn't work (for some it works really well). The point is the room was sold as a means to learn mbox and it clearly does not do this.
As someone said, if the NoBS room is going to be discussed, best to discuss it in its own thread.
I do no use the MBoxx, so I do not know how useful it is, but if any one is looking for something similar just to try the idea of cumulative volume and price swings, can try this much cheaper: advantagetrading.net/adv-swings.html
Frankly, I'm curious about the usefulness and differences between the two sets.
No, I have my setup..I just use MGann Swing and Mbox Histogram. I don't care much for a rest of it...Hi is trading completely different system than I do. He has just posted good trades I don't think he made any bad trades so far . I am not that good, but am ok with my profit
Thanks for your reply, Maydo. That you don't trade his recommended system/setup tells me something.
Yes, I'd like to see him post videos of mistakes, losses, etc. Often, there's much more to learn there than watching one winning trade after another. I don't imagine he has a 100% win record.
I also think it would be more ethical to report his results in points, not dollars. It takes a relatively large account to trade 10 or 20 contracts, especially if the trader is only risking 1-2% of their account at a given time. I think the large dollar daily earnings can too easily seduce potential purchasers that MBox is an easy get-rich-quick system.
The MBOXX videos and charts are presented to you by Cherry Picked Films Ltd. He never shows losses. He never shows when his indicators perform badly. He just scans for the instruments that worked that particular day for his indicators and marks up a chart. Pretty much rinse and repeat.
I watched one of his videos. It had lots of comments about him trading in SIM on his platform. He refuted and it appears the comment(s) has since been deleted.
It is easy to make a video of you trading profitably. If you made tons of money, post it. If you lost a ton of money, don't post it.
There is a reason why he doesn't give a free trial. It is up to the potential purchaser as to the reason why.
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- Trade what you see. Invest in what you believe -
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JonnyBoy, sadly, I'm leaning in the direction of your opinion. There are things I do like about Mike, including his tech background at Sun and Oracle. I like that he split with that trading room that wasn't really teaching his system. $1098 is a relatively low price, given the many $5,000K "indicators + training" packages around.
What I do know is that most of what is taught in the retail trading world doesn't work and most people lose all of their money. A 95% failure rate is thrown around but I think it's more like 99%, especially in high-leverage Forex and Futures.
I have MBOX, I like it. It does what it was designed to do.
Do I trade like Mike the originator?
No.
What people fail to understand is the MBOX is based on Wyckoff/Dow theory. More importantly they fail to understand Wyckoff and indicators.
The indicators do what they're supposed to do. Thumbs up.
People fail to understand the context of the markets, the indicators, Wyckoff, market context, market concepts, self.
If you listen to the room moderator in the youtube video he is a real person who talks like a real person, colorful and like a lot of New Yorkers. Get over the political correctness, bs, etc. What a joke. If you don't like that then don't go. From what I read you can trial the room. No I am not in the room or a member. I simply liked the indicators and had an understanding of them before I bought. They did what I needed so I bought it. 1000usd no big deal. Invest in yourself and education. I knew ahead of time what the indicators did. How to start using it and what to look for. Do not try to buy the indicators to learn to trade. Learn about the markets, then learn what to measure then decide what tools to best use.
All these posts slamming MBox and Mike(S)... you should take responsibility for your own education, accountability and not be so sensitive.
I have a ton of indicators I paid for through the years and I like MBox for it displays what it is supposed to. I use several pieces of it in my normal layout. I use it in conjunction with footprintS, vol profile and dom.
. I am not that good, but am ok with my profit
