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Forex and TF trading room review. What to look for in a trading room.
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Forex and TF trading room review. What to look for in a trading room.

  #1 (permalink)
Membership Revoked
 
Futures Experience: Beginner
 
Posts: 1,081 since May 2010
Thanks: 2,092 given, 595 received

Forex and TF trading room review. What to look for in a trading room.

When I started trading I thought that this game would be trowing some money in, be smart, read some books and earn a living. I was wrong. Very wrong.

I joined a trading room who is specialized in Forex trading and the guy told me : we have NO BLOWN UP ACCOUNTS and you will learn how to trade for a living !

For a guy who blew up his first account in a blink of an eye that was really an eye catcher !

I bought his indicators and started learning on sim with him. I learned a bunch, I could ask him anything for days and days and days, from stupid things to hard core heavy trading insight things. He always answered. And explained again and again. He learned me all I know. He learned me also what my problem is in trading and how to fix it, and I'm working on it to fix it.

I hear many people about trading rooms that they are just a lie, but my room must be different then, he trades live money, he looses money when we loose money, he wins when we wins and he's monthly positive even in the last bad holiday months (al do a lot less than during the year) he calls the trades before he enters and provides explanation about the trades he enters.

This may be a guide for people who are looking for a trading room, you could check this list :

Positive things :
* Moderator trades with real money
* Trades always called in advance and never after the fact
* Answers all my stupid questions, never ignores me
* Cameradi between members
* Structured learning system
* Works with same software I'm working with (Ninjatrader and Multicharts)
* If I would have done 100% what he learned me I would have NOT lost money, but I didn't so I lost
* True mentoring, I need that, it's the fastest way for me to learn, it's also a control mechanism, it's an experienced trader sitting next to you day by day
* Not scared to change his system/charts according to market situation
* He has a free test 1 week system
* It's not a magic new system, it's solid real high level technical trading
* He's honest, I confronted him with certain things and he just honestly answered like it is.
* Forex and Futures

Negative things:
* He's a IB and I think he takes money from trades I make ? My broker denies it when I ask him about it ?
* You have to pay an extra monthly fee ($16/month for the software he uses to share his room, and it can crash a few times in a week)
* It's not cheap but worth the money IMHO
* The indicators he uses are a combination of daily zones/fibonacci but that's not really 100% clear what they are, but once you have them you don't really care because they work correctly

Would I have done it again, absolutely, I would have quit already or would have lost more money without having a clue what my problem was. A mentor is mandatory for me. Remember if I would have followed his trades and not mine I would have won money instead of lost money.

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  #2 (permalink)
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  #3 (permalink)
Just starting out...
London
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: oil.,gold
 
Posts: 17 since Jul 2010
Thanks: 14 given, 6 received



MetalTrade View Post
When I started trading I thought that this game would be trowing some money in, be smart, read some books and earn a living. I was wrong. Very wrong.

I joined a trading room who is specialized in Forex trading and the guy told me : we have NO BLOWN UP ACCOUNTS and you will learn how to trade for a living !

For a guy who blew up his first account in a blink of an eye that was really an eye catcher !

I bought his indicators and started learning on sim with him. I learned a bunch, I could ask him anything for days and days and days, from stupid things to hard core heavy trading insight things. He always answered. And explained again and again. He learned me all I know. He learned me also what my problem is in trading and how to fix it, and I'm working on it to fix it.

I hear many people about trading rooms that they are just a lie, but my room must be different then, he trades live money, he looses money when we loose money, he wins when we wins and he's monthly positive even in the last bad holiday months (al do a lot less than during the year) he calls the trades before he enters and provides explanation about the trades he enters.

This may be a guide for people who are looking for a trading room, you could check this list :

Positive things :
* Moderator trades with real money
* Trades always called in advance and never after the fact
* Answers all my stupid questions, never ignores me
* Cameradi between members
* Structured learning system
* Works with same software I'm working with (Ninjatrader and Multicharts)
* If I would have done 100% what he learned me I would have NOT lost money, but I didn't so I lost
* True mentoring, I need that, it's the fastest way for me to learn, it's also a control mechanism, it's an experienced trader sitting next to you day by day
* Not scared to change his system/charts according to market situation
* He has a free test 1 week system
* It's not a magic new system, it's solid real high level technical trading
* He's honest, I confronted him with certain things and he just honestly answered like it is.
* Forex and Futures

Negative things:
* He's a IB and I think he takes money from trades I make ? My broker denies it when I ask him about it ?
* You have to pay an extra monthly fee ($16/month for the software he uses to share his room, and it can crash a few times in a week)
* It's not cheap but worth the money IMHO
* The indicators he uses are a combination of daily zones/fibonacci but that's not really 100% clear what they are, but once you have them you don't really care because they work correctly

Would I have done it again, absolutely, I would have quit already or would have lost more money without having a clue what my problem was. A mentor is mandatory for me. Remember if I would have followed his trades and not mine I would have won money instead of lost money.

hey Metaltrade!
Thanks for post this useful information,as this would be the best info for newbie...Why...
let me tell the story....
i`m not profi..or master of masters...but one thing we have to always remember that to start or become the trader you have to climb through very roten ladder of Experience and, Ours glory is not in fall, but in rising every time we fall”
About trading you`re right:
-to check if he trades real money and if someone who you know can give reference for that. Also why I’m started it`s just to say for all beginners-guys if you come to you self and say I nave 8000$ I want to be trader and make double of it in quick period of time it` s gonna be totally wrong…
From my bad experience of blowing up bank accounts, you can spend 4000 grand on useful and popular trading room to get you in flow what is really is and how it`s works, and the rest of money to open your account…and remember if you gonna follow all rules what your educator teaches you will get much faster to the path of success with 4000 grand than with 8000$ without education.

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  #4 (permalink)
Membership Revoked
 
Futures Experience: Beginner
 
Posts: 1,081 since May 2010
Thanks: 2,092 given, 595 received

Yes, I really wonder how people do it without a mentor ?

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  #5 (permalink)
Trading Apprentice
Unites States
 
Futures Experience: Intermediate
Platform: ninjatrader
Favorite Futures: ES
 
Posts: 35 since Sep 2010
Thanks: 10 given, 13 received

What's the link to the site? I would like to check it out.

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  #6 (permalink)
Elite Member
MN
 
Futures Experience: Intermediate
Platform: NinjaTrader
 
Posts: 97 since Mar 2010
Thanks: 457 given, 74 received

MetalTrade,

I'm interested in checking it out too. Can you please post the link?

Thanks for the help,
rptrader

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