Is School of Trade legitimate? (www.schooloftrade.com)
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I watched the 11-05-2010 video from the blog and don't see what is too good to be true earning 320 ticks on 4 contract trades. I know many people earning over 500 ticks daily and I made myself 101 ticks on 1 contract scalps this Friday. I only traded the Russell2000.
His teaching is great so I don't see why he would fake it....but I may still be a naive newbie.
Hey Pico trader
You could probably buy SOT if you make 100 ticks per day easily on 1 contract on one instrument.
You and your friends should open your own school with results like that.
Any chance of explaining your methodology?
thks
As I told you, every trading system works in some point but what about our executions?
1. JJ's entries based on the Time/Sell window as last confirmation signal is absolutely not working for me.
2. JJ taught me all I know about Futures Trading and I wanted to buy the PaceOfTape indicator.
The most important aspects of trading that I've learned from JJ is "to stop over trading" and "Discipline".
To me it all was worth it!
though it never was profitable to pay for the course. We also have to take our share of responsibility.
Today, I don't attend the SOT room often because JJ just repeats himself over and over so I don't need to be there anymore.
I took all I could from JJ and moved on to become a pro trader!
Since you brought our attention at "who made it using the SOT system"
JJ did indeed change his disclaimer and stopped pretending to trade a live account.
Disappointing! Does not smell good!
You actually may be a whistle blower Lloyd
Last edited by PiCoTrader; January 17th, 2011 at 10:08 AM.
Your remark is not helping anybody here.
You assume I do this every day regardless of the market conditions.
I trade every day but I don't take trades every day.
It could be 2 weeks before I take a trade mostly because I don't trust the market speed. That's the main reason that come out from my Live trading journal.
I often see many entries but don't take them, though I should ( they end up being winning trades.)
It is a lack of discipline but also a lack of knowledge about the instrument personality.
The market conditions ( speed, volatility ) is what concerns me.
Dealing with stalling price (a portfolio killer) and preserving capital is essential. Not taking trades at all cost.
About my trading strategy, it is based on Jeff's "All you need" template and using the TsSupertrend + Adxvma indicators. You add up thousands of hours watching the market behavior and get a feel about the real job we do = risk manager!
Come join us in the Skype Trading room if you trade Live
Last edited by PiCoTrader; January 17th, 2011 at 11:41 AM.
You should look at post #115 on the trade2win thread regarding SOT, again I cannot link yet as I am a new member. However, you did not need to pay JJ for the pace of tape indicator, it is not even his code. The original author of the pace of tape indicator made it available to others for free. I understand that JJ has just taken his code and modified it to look different. The author also offers advice as to when he feels this indicator works and when it does not, probably worth talking to him if you plan to use this tool in your future trading.
The following user says Thank You to LloydH for this post:
I have read the 115 post a long time ago at t2w. Thank you.
As you are a new member here and haven't read many thread yet,
you have no way of knowing and jump too fast on conclusions.
here are some facts:
Cunparis uploaded his latest version of a PaceOfTape_Paris in the download section here on March 15 2010.
Merci Cunparis
Unfortunately it is not working the same way.
I tried both live on the same chart and the Cunparis one acted more like a volume histogram to me.
I didn't look at the Cunparis coding yet because within minutes I knew I couldn't get the POT results.
I would have love it to work the same way, but it was just using the same name PaceOfTape.
It was also only working on tick charts.
I've been following SOT and his PaceOfTape since August 2009.
Fair enough, with cunparis leaving comments on the SOT thread at T2W saying he was the original author I think it was reasonable to accept that he was establishing a link between his PaceOfTape indicator and the one JJ uses. Perhaps cunparis himself was assuming that the SOT indicator was based on his own code? I guess if they are not the same code then they are based on the same idea?
Given the SOT pace of tape is different code do you know if it is their own code? If so I know that SOT has the following disclaimer relating to limited user license which I assume will apply to their PaceOfTape indicator...
"No subscriber or other user is allowed to copy, sell, license, modify, distribute, reproduce, transmit, publicly display, publicly perform, publish, adapt, edit, create any of the materials or Site Content on our site or any derivative works from or use the Site Content, in whole or in part, except as is expressly authorized by this license."
when i was stuck with trading for a while i have followed him for the full trial. i liked the positive energy but felt that it was too good to be true, and so i it is.
I was looking through my SOT advanced course material as I wanted to compare these two POT indicators to see what the differences are. I noticed the PaceOfTape indicator is one of 3 indicators which JJ ships out as compiled code with a setup.
Were you able to get the original POT indicator source code supplied to you from SOT?
Pico Trader, I know you usually respond quickly to emails and forum posts so its a little out of character for you to leave this one for a few days.
Unfortunately I am still trying to clarify this situation with the PaceOfTape indicator. I remember you mentioned to me that you had reprogrammed the POT indicator to add audio alerts. Given your last comments I take it this was not the cunparis code you modified? So I guess you must have obtained POT source code from JJ after all? I think it is interesting that SOT let you take their indicator source given you are now setting up your own Skype Trading Room.
