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oiltradingroom.com

  #11 (permalink)
Elite Member
san marino
 
Futures Experience: Advanced
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Favorite Futures: es, nq, fdax, cl
 
Posts: 59 since May 2014
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hi. sorry for the late answer, I was away some days.
All the indicators are on this forum, take a look under search in the elite section.
I don't actually follow this system. It was only an exmple to show that u can find all for free over here without spending money

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  #12 (permalink)
Elite Member
Las Vegas NV
 
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jeffman's Avatar
 
Posts: 77 since Jun 2010
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A complete waste of money

I promised myself I would not spend any more money on this kind of stuff. But, I guess I got caught up into it. I took Rob Mitchell up on his trial in his room for $99.00 two weeks. Thank god it was only $99.00. It was a complete waste of time and money.

First of all, the whole premise of his room is to sell his very over priced indicators. He states in his free webinars that you don't need to purchase his indicators in order to be successful as he displays his charts in his room for you to see. Yes, he does display his charts. But, he doesn't explain how to use them. There is a constant pressure to buy his indicators.

The third day of the trial, somebody who claims to have earned 200 ticks that day, posted his email address in the chat room stating that if anyone was having difficulty in learning the system, to email him and he will kindly help. I emailed this individual for help and the first thing he asked me is if I owned Rob's indicators. He then stated that in order to be successful, one must purchase the indicators. That was the extent of the help he would give.

I emailed Rob during the trial and stated I wasn't understanding his entry's and his methods. The only thing he would state was that "you need to be in the room and listen to my lectures". In the room, I witnessed on two occasions someone asking for help in understanding his setups and methods and Rob replied, "You need to read my blog posts in order to understand".

So I was in his room for the first week and gained absolutely nothing. He has some fancy indicators alright.

I guess I should have really known better when I read on his website where he states, "At the time I was one of the biggest e-mini traders in the world, trading as many as 1,500 contracts at a time.".

Lesson for me learned. Each to his own. I am just relaying my experience. Other posters on this board will privately share the same type of dismal experience with Rob Mitchell's, OilTradingRoom.com

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  #13 (permalink)
Elite, not Elitist :)
San Diego
 
Futures Experience: Beginner
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jeffmum View Post
I promised myself I would not spend any more money on this kind of stuff. But, I guess I got caught up into it. I took Rob Mitchell up on his trial in his room for $99.00 two weeks. Thank god it was only $99.00. It was a complete waste of time and money.

First of all, the whole premise of his room is to sell his very over priced indicators. He states in his free webinars that you don't need to purchase his indicators in order to be successful as he displays his charts in his room for you to see. Yes, he does display his charts. But, he doesn't explain how to use them. There is a constant pressure to buy his indicators.

The third day of the trial, somebody who claims to have earned 200 ticks that day, posted his email address in the chat room stating that if anyone was having difficulty in learning the system, to email him and he will kindly help. I emailed this individual for help and the first thing he asked me is if I owned Rob's indicators. He then stated that in order to be successful, one must purchase the indicators. That was the extent of the help he would give.

I emailed Rob during the trial and stated I wasn't understanding his entry's and his methods. The only thing he would state was that "you need to be in the room and listen to my lectures". In the room, I witnessed on two occasions someone asking for help in understanding his setups and methods and Rob replied, "You need to read my blog posts in order to understand".

So I was in his room for the first week and gained absolutely nothing. He has some fancy indicators alright.

I guess I should have really known better when I read on his website where he states, "At the time I was one of the biggest e-mini traders in the world, trading as many as 1,500 contracts at a time.".

Lesson for me learned. Each to his own. I am just relaying my experience. Other posters on this board will privately share the same type of dismal experience with Rob Mitchell's, OilTradingRoom.com

I had a similar experience almost. I signed up for his $99 trial. The first two weeks were good. Rob actually explained his setups. The dude who said he made all that money (the one you referred to above also known as Mr. Kachingkaching) was on vacation so I didn't know about him yet. There was another guy in the room who was very helpful - posting his trade setups and calling trades. I learned a lot from him. Then the trial ended and I decided to let it ride for a month. Mr. Kachingkaching came back from vacation and posted all these claims about how much money he made (like $300K plus in a few months). Sometimes he would post his entries (only if they were in the money) but could not explain why he took them. Rob tried to explain them for him. Worse, Rob spent at least 20 minutes a day talking about this guy and this dude's ferrari's and rich lifestyle etc. and did not spend as much time talking about trading as he used to. Then the one individual who was really helpful left the room. It got so bad I had to turn off the sound and only watch his charts as I wasn't going to spend money on buying indicators. Anyway, it started out promising and ended with a thud. Needless to say I am no longer in the room.

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  #14 (permalink)
Elite Member
Kansas City Mo.
 
Futures Experience: Intermediate
Platform: Tradestation
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Posts: 42 since Dec 2009
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oiltradingroom?

I took the $99 trial and found it to provide no useful answers. Sure the charts look good after the fact but there was no real strategy presented for stops and targets and when I inquired about the slippage on entries in relation to targets and stops was never given solid strategies to use. as we all know any system can look good if given the proper settings which I never found here. Of course I felt pressured to purchase the expensive indicators.
Oils is a difficult market because of slippage and if your strategy can't accommodate then it will be useless. Inevitably Rob would always show his charts after he was already positive in a trade .

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  #15 (permalink)
Elite Member
Englewood
 
Futures Experience: Intermediate
Platform: Investor/RT
Broker/Data: Interactivebrokers
Favorite Futures: Oil and Gold
 
Posts: 11 since Apr 2010
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Does anyone has or know of an indicator that works similar to this "smart momentum" ?
Smart Momentum

thanks.

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  #16 (permalink)
Elite Member
Wiltshire, United Kingdom
 
Futures Experience: Beginner
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Wow, $349 for something that looks like an RSI indicator that you will find for free on most platforms. He says one of the best uses for the Smart Momentum Indicator is for divergence which he demonstrates. RSI can be good if used that way too. I bet if you plotted an RSI next to that indicator they probably wouldn't plot exactly the same (the highs and lows, ignoring the numerical value), but after a week of use you would have a similar percentage of times when RSI divergence to price would have produced a good buy or sell indication as you would have done with the other indicator.

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  #17 (permalink)
Elite Member
Englewood
 
Futures Experience: Intermediate
Platform: Investor/RT
Broker/Data: Interactivebrokers
Favorite Futures: Oil and Gold
 
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matthew28 View Post
Wow, $349 for something that looks like an RSI indicator that you will find for free on most platforms. He says one of the best uses for the Smart Momentum Indicator is for divergence which he demonstrates. RSI can be good if used that way too. I bet if you plotted an RSI next to that indicator they probably wouldn't plot exactly the same (the highs and lows, ignoring the numerical value), but after a week of use you would have a similar percentage of times when RSI divergence to price would have produced a good buy or sell indication as you would have done with the other indicator.

That's my issue way too much money for a single momentum indicator, was wondering if anyone know of any momentum similar to this ...what make you think this is a glorify version of RSI?
Thanks

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  #18 (permalink)
Hi Mom!
Bridgeport, Ct
 
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mrbochin23 View Post
That's my issue way too much money for a single momentum indicator, was wondering if anyone know of any momentum similar to this ...what make you think this is a glorify version of RSI?
Thanks

Check out Fat Tail's series of tools that are on this site. He's probably coded something you'd find useful and it's free.

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  #19 (permalink)
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Wiltshire, United Kingdom
 
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mrbochin23
I didn't mean to say it was just a repackaged RSI, just that in the video it looks like an RSI, and can be used like an RSI and he says it is similar to and can be used like other oscillators. Looking at his site he seems to have quite a number of basic looking indicators which he calls 'Smart' and then sells for a few hundred Dollars. I am sure they are changed and altered in some ways but I can't imagine that in the long term their performance or your interpretation of them would have a major advantage over the similar standard versions.

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  #20 (permalink)
Elite Member
Englewood
 
Futures Experience: Intermediate
Platform: Investor/RT
Broker/Data: Interactivebrokers
Favorite Futures: Oil and Gold
 
Posts: 11 since Apr 2010
Thanks: 0 given, 1 received



matthew28 View Post
mrbochin23
I didn't mean to say it was just a repackaged RSI, just that in the video it looks like an RSI, and can be used like an RSI and he says it is similar to and can be used like other oscillators. Looking at his site he seems to have quite a number of basic looking indicators which he calls 'Smart' and then sells for a few hundred Dollars. I am sure they are changed and altered in some ways but I can't imagine that in the long term their performance or your interpretation of them would have a major advantage over the similar standard versions.

Thanks!

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