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Meritt Black SMB Capital Futures
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Meritt Black SMB Capital Futures

  #1 (permalink)
 Vendor: www.orderflowdashpro.com 
North Carolina
 
Futures Experience: Beginner
Platform: NinjaTrader, Tradestation
Favorite Futures: es
 
Posts: 222 since Nov 2011
Thanks: 50 given, 210 received

Meritt Black SMB Capital Futures

Merritt Black of SMB Capital is creating a futures floor/Slack group. The cost to join is only $7/per month. Merritt claims to have been a successful independent trader who went into managed money in 2011, possibly hit a rough patch, and now trades firm capital. He, also, offers mentoring at $3,950/month remote or $5,950/month in-house. He claims the slack group is not about drumming up interest for mentoring: however, he does request a bio which could be obviously useful for those purposes.

Anyway, he claims to want to form a transparent futures floor/chat room where traders can call out their observations in real-time. In the introductory video, he does claim it is "for entertainment purposes only" which I found that wording to be a bit amateurish and alerting: however, I can not be sure if it was legalese or indicative of his mindset.

Merritt appears to be primarily a crude oil trader in the swing time frame. At any rate, he has posted many videos on youtube. I have watched several of them at 2x speed. I did not see a trade DOM or see any clear trades called out in the form of BUY LIMIT XX WITH STOP ZZ or BUY MARKET. It sounds like he might be scaling into longer term trades. The videos have long periods of silence and only show a candlechart with a volume profile and needle indicator. Some days no trades appear to be called out. He appears to be using market profile methodology and speaks of a "poor high or poor low" or "four high or four low" but it is not completely clear to me. He does call "scale outs" which is a warning flag simply because it makes it more difficult to figure out whether a trade is profitable or not.

However, I was only in the room for a few days before getting kicked out for making undesired calls on the ES. However, to be blunt, I felt my calls were spot on. I made it clear I was trading in a Oneup Account (trying to obtain funding)/sim account. I, also, trade a small live account and had closed out my core live profits for the day. I had P&L at time of being kicked of over +$500 in the OneUp Account. One the day, I closed out +625 before commissions and $415 after commissions trading 3 lots only in ES. My live profits on the day were around $300 trading 1 lot only. Because I was scalping, I was only trying to provide useful context and not exact entries (and also to protect my exact entries/exits). Notice, this is not meant to infer anything about my trading profitability or overall ability which is not what is in question, for the record I have struggled to move beyond a small account. However, I have also built top ranked and tracked futures systems and have had long periods of high accuracy in making quantified discretionary calls. Despite sending my exact trade logs proving my calls and offering to not make any more calls, if for any reason they were undesired, I was still kicked and refunded.

Anyway, I am not sure what to make his Slack group. I did not see much value in the videos though because there was no DOM and no clear calls. However, I did not have enough experience to conclusively prove to myself there was no value offered: however, at a minimum what I did see might suggest his methods are not best suited to offering a trading room experience. He claims to be transparent. I am reserving judgement on that. He claims over 80 people watch him live trade. Mike Bella is also making vague claims about funding futures traders. There is zero reason for traders to give consideration to education firms hiding behind vague claims of funding when real funding is available via OneUp Trader today.

I'd like someone to verify he really makes quantifiable calls and to also elucidate his oil strategy. I have not had much experience with CL. So, I was hoping to learn something.

However, this is my second experience with an SMB Capital product/experience, and this is the second mediocre offering I've seen from SMB Capital. Given that the cost is only $7, I would not let my review discourage other traders. However, to be honest, I did not see $7 worth of value but again my experience was limited to a couple days in the room/group. I will continue to monitor SMB to see if they can start producing value or start to offer real transparency. However, my expectations are not high. I do suspect that Meritt is really trading but without more transparency: it would be prudent to be skeptical that there is any value or relevance for the small futures trader. Anyway, I really do not want to attract any negativity because futures trading is really difficult. I think one needs to be especially critical of firms that make a lot of claims about having 7 figure traders but haven't offered any poof, firms that claim to want to fund traders but hide behind vague claims or offer no clear path to funding, etc.

If desired, SMB Capital could surely/easily correct these problems by simply #1 showing a trade DOM (they could delay the feed if they felt it would hurt their fills), #2 share their real money track record for given traders, and #3 provide a quantified and unbiased path to funding like OneUp Trader, even better off the tryout for free. I think the problem with SMB is they spend a huge amount of energy into promoting and selling trading education and, at the same time, offer vague promises of opportunities to trade firm capital in an effort to help them sell that product. And, yet they offer zero proof but instead apparently hope to get a pass because they were featured on a tv program, published a book, etc.


Last edited by tpredictor; July 13th, 2017 at 02:33 PM.
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  #2 (permalink)
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  #3 (permalink)
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He used to be a member here. I think he was banned after some meltdown. His handle was something like indexTrader7.


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  #4 (permalink)
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SMB is a quite respectable prop firm and they have nice things like Friday ask me anything sessions, however I think their training is way overpriced. They do run some in house training I believe, but still cost tons of money. Also, they were announcing a Futures trade desk lead by Ben Greene (Market Structure and Flow) but never heard anything of this anymore.

I attended some of their Friday sessions which are good for your development if you're looking to ask questions and hear from prop traders, but it ain't gonna make you profitable.

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  #5 (permalink)
 Vendor: www.orderflowdashpro.com 
North Carolina
 
Futures Experience: Beginner
Platform: NinjaTrader, Tradestation
Favorite Futures: es
 
Posts: 222 since Nov 2011
Thanks: 50 given, 210 received


Quoting 
SMB is a quite respectable prop firm

Do you have any evidence of that? I suspect they do have some big traders on the desk because they have stated such but we only have their claims. More over, let's imagine you have a business model where you bring in 10 million from educational products, sales, etc. and then you use that 10 million to fund your trading desk and then you manage to produce 2 or 3 million dollar traders. Now, you can legit. claim you have 7 figure traders, however, reality is most of your income comes from educational products.

I have been looking at SMB for a while. And, the quality of what I've seen offered is rather sub-par. My best guess is that they did okay when volatility was higher and before the algos tooks over but I wouldn't be surprised if try to make most of their money from educational products. Some of their blog posts are just completely off-the-charts ridiculous these days esp. the options stuff. Also, I am not really sure if they are a prop firm or just work with other firms now. I have read conflicting stories on that.

Anyway, you could be right. They could be a top tier firm. But, whether or not you believe so is going to be up to your imagination.

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  #6 (permalink)
Elite Member
Netherlands
 
Futures Experience: Advanced
Platform: TWS/SierraChart/Tradovate
Broker/Data: InteractiveBrokers/Tradovate/CQG
Favorite Futures: Bund (FGBL)
 
Posts: 16 since Jun 2013
Thanks: 4 given, 11 received

I don't know whether they are top or not, but they are well known in the industry by looking at the people that refer them. They have good references from e.g. other prop firms and well known educators. I agree that their education is not something special. that is why I think it's overpriced. their main advantage is that they are a prop firm and their experiences. however experience is somewhat questionable since markets change all the time. I guess if you're talking about mindset they could teach you a lesson or two.

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