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Veritasfuturestrading.com looks great!
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Veritasfuturestrading.com looks great!

  #31 (permalink)
Elite Member
Concord, CA
 
Futures Experience: Intermediate
Platform: Sierra Charts and NT7
Broker/Data: AMP/CQG
Favorite Futures: Mini's and CL
 
Posts: 225 since Oct 2009
Thanks: 918 given, 272 received

Beast, you have 4 posts in over a year. For me enough said!
Post more about trading to be at least a credible source. We have seen this happen for years here, so yes we are going to critical. Get involved it will help your trading.


BeastModeTrader24 View Post
Yep, I figured atleast someone would attack me... I have to say I was warned by a few members of such.

Look I'm not selling or promoting Veritas Futures Room. I just described my experience there.

Get a trial or don't, it doesn't matter to me. What works for some may not be good for others.

Honestly this is why I was tentative about posting and normally just lurk on this site.

Best of luck,

BeastModerTrader24


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  #32 (permalink)
Elite Member
Dallas, TX
 
Futures Experience: Intermediate
Platform: NinjaTrader, IB
Favorite Futures: GC, CL, ZS
 
Posts: 13 since May 2013
Thanks: 5 given, 38 received


BeastModeTrader24 View Post
Hi everyone this is my experience over the past few months with the Veritas Trading Room.

Overview: The moderator/owner Bob is a very good trader who uses order flow to gauge short term market direction. He follows roughly 15 markets but places the majority of his trades in the NQ, CL, LE, GC, FDAX, and NG markets. He also trades to a lesser extent some currencies, coffee, sugar and the eMini S&P.
His trading style is reactive to what he is seeing at the moment and it can be difficult to adjust to his movement from instrument to instrument. He normally trades 3 contracts (6 for the NQ, or 2 for ZB) and has a 10 tick target where he sells 2 contracts while leaving a runner and moving his stop to break-even. His losses tend to be reasonable except for the occasional stinker.
His knowledge of the market is quite good, especially to anyone (like me) who is looking to follow a successful trader.
He trades in full view with his DOM and accurately accepts losses as part of his performance record. He also calls out verbal trades and helps traders in the room manage trades that he has not taken and are not part of his room total/record.
His manner is pleasant and does not grate on me as have some room moderators.
He can be reached via telephone as well as by email. He's accessible and generous with free room trials (now $10).
His style of trading can be a bit daunting to try to emulate even though he is very good about giving notice when possible about entering trades. I think following him while sim trading during a trial week or two would best suit most traders.
In my opinnion he is a very good trader who would be well worth looking at for any trader who needs to either learn a successful approach or wants to sit in the co-pilot chair instead of making their own trade calls.
The Veritas Trading Room is not inexpensive but you more than likely can make an arrangement for a monthly payment that is agreeable to everyone.
The hours are good and getting better. Soon they will be 3:30 AM 'til about 12:00 then re-open again after roll-over for about 90 minutes. There is also a Members Skype where members talk and Bob will suggest trades.
Bob also frequently holds saturday morning educational webinars.
You can trade along with Bob either with or without having an order flow indicator but you won't be learning too quickly without it. This is a personal decision. I have held off for now.
I've experienced all the good and bad of the room and quite honestly the good does far outweigh the bad. Try a few $10 weekly trials and answer all of your questions for yourself.
Thanks for reading, BeastModeTrader24...

I agree with all you've said. Personally, I've not been able to make money with Bob. I just can't take trades at the high or low of the day, in the direction of the high or low, and be happy with scalping 4 to 6 ticks on a momentum play. Initially, he was shooting for 10 ticks on 2 contracts, but lately, he's been happy with getting 4-6 ticks. He's generally making 750-1100 a day, but that's on close to 20 trades, on 3 lots per. So transaction costs can eat you up pretty quickly. He is very helpful, totally agree with that, and accessible. Today, he's up 800, and his ticket fees are 350-some, over 20 trades. He's very risk adverse, but that can keep him out of big moves. He was short in the NQ yesterday at 6064, got out break even, before it dropped 50 points. He's got 100-125 people in the room, so at 300/month, that's a pretty sweet income for him, 360,000 a year. But he certainly works hard, I'll give him that.

He will make about the same amount even when the markets are making big moves, because he doesn't stay in for runners. Yesterday the NQ went from 87 to 11 and back to 60, and he missed all of those moves. His total for the day was 1115, and most of that came from natural gas, apparently, plus lots of other small trades. So, if you're looking to learn to trade and stay in large moves in the market, this is not the place for you to learn to do that.

He does tend to get distracted by watching all the different markets, and can miss good moves in 1 market because he's scanning all the other markets that he watches (he follows 14-16 markets). That can be frustrating. His direction calls are generally good, as his targets can be for support or resistance. He has a particular affinity for trading cattle, which can be a slow market, and he can miss good NQ trades while he's messing with a cattle trade for 5 ticks.

As you mention, he's very reactive to the moment, and looks almost solely at what the order flow is at the price point at that second. Very little reference to any longer time charts or fitting the trade into the context of a larger trend.

I think he posts his results on his website, but doesn't break it down into number of trades, amount per trade, etc. He shows what he makes every day on his DOM. He does help people get through the TopStep combines as well. He is OK to listen to, no berating the markets, no crowing, no yodeling, no blaming market riggers, etc. So it's OK, if that's your style of trading, but after being in for 3 months, and not being able to follow his trades and make money, I think I'll move on. He is transparent, and accessible, and overall profitable, but scalping for 4-6 ticks and buying and selling breakouts (although he refuses to call it that, though it's exactly what he does) is just not the style of trading I'm looking for. He is in and out of trades in minutes, if that appeals to you. He's incapable of sitting in a trade for any length of time, even with a winner, or letting it run.

He's apparently close with Dr. Dean Handley, as a matter of fact, he has him speaking in the room right now. Dean says he monitors 4-5 rooms a day, and I guess this is one of them.

He will do his best to keep trading until everyone is green for the day. His trials are pretty reasonable. But it is about 300 a month for a quarterly membership. The people in the room seem to be pleased with the results, so you may be as well.

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The following user says Thank You to prisoner6 for this post:
 
  #33 (permalink)
Elite Member
Seattle Washington/United States
 
Futures Experience: Advanced
Platform: NinjaTrader
Favorite Futures: Mini ES
 
BeastModeTrader24's Avatar
 
Posts: 6 since Jun 2016
Thanks: 0 given, 0 received

Update on earlier post and response to prisoner6


Thanks for offerering your insights. I too agree with everything that you stated. Bob's frantic scalping style is not for everyone, that's for sure. I'm disappointed that he posts his Gross profit for the day and not his Net. It would be a much more realistic view of his performance.

He does make money, but each day can feel like a root canal at times.

Best of luck to you and all other traders that read this post.

Kindest regards,

BMT24

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  #34 (permalink)
Elite Member
Keller, TX USA
 
Futures Experience: Intermediate
Platform: Tradestation, NinjaTrader
Favorite Futures: YM, ES, CL
 
Posts: 40 since Sep 2010
Thanks: 1 given, 25 received

He sometimes trades thin markets - can everyone in a trading room get in on a copper trade? Probably not...


Sent from my iPad using futures.io mobile app

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  #35 (permalink)
Elite Member
Seattle Washington/United States
 
Futures Experience: Advanced
Platform: NinjaTrader
Favorite Futures: Mini ES
 
BeastModeTrader24's Avatar
 
Posts: 6 since Jun 2016
Thanks: 0 given, 0 received

Veritas Trading Room thin markets...

Yeah Bob does trade the thin ones such as Copper (HG), Cattle (LE), Cocoa (CC) and Sugar (SB). Lately he is interested in RTY and EMD as well. No way everyone gets filled on his trades, he's trading on NT sim so he gets filled easily.

The more I'm in his room the more I know that the pace is too quick for me. Too many instruments being followed. I wish he concentrated on just the NQ, ES, and one or two others.

But listen Bob works hard, he is honest and ethical and as transparent as they come. And he seemingly really understands order flow. He also serves a room from beginner to advanced traders. Seemingly many are in Top Step combines. So I know he feels compelled to trade even when the markets are unfavorable. Personally I think he's a good person and a solid but hyper trader. He's also easy to listen to which is important, and clear about his market entries/exits.

As I've said before people should try his room for $10 if that is of interest to them and draw their own conclusions. I've done the room route and he's the closest I've found to being the real deal.

Ok again my thoughts. Feel free to disagree but let's keep it civil.

Go Seahawks!

BMT24

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