Easy Zoe...I mean Micheal lol. Bobby at a quick look at uncle mike trading room and his use of indicators, you will be better off looking at and learning perry's method for free here at BIG MIKE'S. If your new I can reccommend you learning price action and market profile because eventually the better you get at trading the less stuff you will notice you don't really need have in your charts. Uncle Mike had so much indicators green and red it looked like Christmas.
Participated in first week of Uncle Mike's trading-room and here is my observation;
VERY, VERY IMPRESSIVE!
The man traded over $1,100 for the week with only 3 contracts and used nothing that was esoteric.
Simple indicators, multiple screens, tight Stoploss. Along the way, YES he had a few losers, a percentage number of break-evens, which I believe was a pivotal reason he was able to recover quickly (he excercised GOOD trade management) and some winners that he peeled out of in stages for some nice 1-2 point targets.
He explained his trades nicely and was very open to Questions from his subscribers.
Short week so Uncle Mike took a lot less trades and was much more careful on the trades he did take. Several losers, and a number of break-evens kept the losses manageable, as a result a few winners basically resulted in a break-even or slightly profitable week.
Never the less, still impressive trading with only 3 contracts. His trading approach is really impressing upon me the real secret to ending a session profitable; not losing too much money when your edge is gone; cutting a losing trade right away and not allowing hope, or wishful thinking to keep you in a trade that ultimately hits your "hard" stopploss, causing you to lose a lot more money, therefore making it that much more difficult to RECOVER quicker when your edge is back.
Hi everyone,
some bad news, after watching for a while longer, Uncle mike gave back most of his winnings for the past week.
What i noted that disturbed me was that he trading on a sim for ninjatrader and when I called him out on it, he then flashed his REAL account from another computer. I suspect that he may not be taking all the trades he calls out.
As with all the other trading rooms, a burst of winning trades, followed by a slew of losers....adding up to no better than 50/50 win-loss... as good as tossing of a coin!!
After spending 6 long years at this and thousands of dollars, I am going to give up, I can not consistantly be profitable nor can I find anyone else that can be either and show a brokers statement as proof!!!!!
I guess I'm a little confused here. You said that you called him out on trading SIM and then he flashed his real account from another PC? How can you tell that and was the real account profitable?
If you're saying that you have only seen traders with a 50% winning percentage, as long as their winners are bigger than their losers they should be profitable.
After 6 years, you should have learned enough to develop your own winning methodology instead of trying to find the Holy Grail from guru's who can't trade and that is why they are selling their systems and education programs.
I'm not trying to bash you or demean your efforts, its just I wouldn't give myself that long. There should be alot of questions as to why you can't find yourself producing consistent profits after 6 years. Honestly, you need to look within yourself rather than saying trading is educated gambling. Psychology plays a major role in trading and some people just can't make it.
FROM ALL I HAVE READ OVER THE YEARS ON HUNDREDS OF TRADING FORUMS, THERE ARE MANY PEOPLE LIKE MYSELF (INCLUDING THIS FORUM) THAT HAVE BEEN TRYING TO SUCCEED AT TRADING FOR ALOT MORE THAN 6 YEARS, PLEASE DO YOUR OWN RESEARCH TO VERIFY THIS.
BASED ON YOUR STATEMENTS, IT SOUNDS LIKE YOU ARE PROFITABLE? AND IF SO, I HUMBLY ASK THAT YOU SHOW A SAMPLE OF YOUR BROKER STATEMENT SO THAT MYSELF AND PERHAPS OTHER LOSERS CAN GET A BURST OF RENEWED HOPE THAT PROFITABLE TRADING IS INDEED ACHIEVABLE!
If you are looking for an educator who would show to you his brokers statement try Larry Lewin. I think this is his name. He used to be with Underground Traders. Now his class would cost you about $5K or more last time his sales rep called me he said I need to rush, sice price would go up. All the best to you.
I am not claiming that I am consistently profitable yet, but I am very very close. In fact, my loses are very small or break even. I have only been trading for 16 months and in the beginning I lost more money that would make most grown men cry. I have only changed my methodology three times and honestly feel that I have found my own profound holy grail. Thanks to the advice and feedback from others in this forum. I know that there are profitable traders in this forum, my advice is find them and ride their coat tails if you can.
Starting next month I will be posting my weekly results and statements on my blog. If you're interested you can look there.
The following user says Thank You to itrade2win for this post:
I appreciate your frankness but with all due respect, in the last 6 years, I also have found myself coming "VERY CLOSE" to being profitable only to blow my account up in my next breath!
CLOSE IS NOT SUCCESSespecially in trading, where you have to get the entry, the trade management and the exit right.
ONLY THE REAL THING IS REALLY THE THING.
Good luck and believe me, your proof of success would rekindle my belief that consistantly profitable trading is achievable
I am not a current member of Teach Talk Trade but I know for a fact that the entry, trade management, and exit is exactly what Uncle Mike teaches and practices ever day in his trade room. He only trades 6E and ES, he only trades 3 - contracts per trade and anyone can check the posted track record of the room at the Teach Talk Trade website. With all do respect, I don't think you will find the inspiration or the insight you are looking for by viewing a successful traders brokerage statement.
I think I have been misunderstood as to the reason I want broker statement(PROOF)
Myself as well as others I know have been dupped by the "dream merchants" of the trading world which includes System Vendors, Educators, Authors of ebooks, Mentorship programs and even home spun systems being sold on sites like ebay and Lulu.com- all claiming to be consistantly profitable!
However, from what I have read and personally have experienced is that none can offer any kind of PROOF OF ACTUAL PROFITABLITY when they are called on it, YOU JUST HAVE TO TAKE THEIR WORD FOR IT, WHY????
Oh, yes some can offer proof of OCCASIONAL PROFITS INTERMIXED WITH LOSSES, BUT NO ONE IN THE LAST 6 YEARS OF MY EXHAUSTIVE SEARCH CAN OFFER PROOF THAT THEY CONSISTANTLY ARE PROFITABLE AND THEREFORE LIVE SOLEY OFF OF THEIR TRADING RESULTS!
Just wondering , but in six years, how many 'trading buddies' do you know that have made it? The traders I know that are profitable are people that I have interacted with and became friends with over the last few years.
Please define "made it" My 6 year quest for trading success is to achieve enough consistant profitability to be able to support myself solely on my trading. That is also what I have been trying to discover along the way, whether any retail daytrader out there in the universe has been able to solely support him/her self only from their trading.
Look, don't we ask for proof in any other performance based endeavour; for baseball players we demand to know their batting average; football, number of touchdowns, hockey, number of fieldgoals, etc.
This is one of the few performance based endeavors that requires nothing more than a mire mention of profitability for credibility.
Hey the famous trader Gary Smith once said in an interview that consistanlty profitable daytraders were so few that they were the exception to the rule. I am sure you will agree, that only a fool would base a rule only on an exception!
I would like you to thank you for your post, I'm just like you, very skeptical.
I bought some techniques, without illusions, to see and take some ideas ... lol
I tried some live room, no luck, when I was there, the results were in the best case bad and most often false on the report.
About the training, I systematically ask for a real statement (for training of several thousand dollars, it is a minimum) ; never received 0 nothing nada nichts !
I am not looking at all for holy grail from guru but just a way to increase my capital by myself a little more than what the banks offer.
I am still convinced 3-4% per month with a 50k account is possible.
Difficult but exciting journey ... still far away ?
Check out an advertisement I got in my email today.
Looking for a method or indicator that can help produce consistent winners? See the price action line with no other chart indicators working. It will help you reduce the number of trades taken each day as well.
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I sent him the following reply...
"It's a 'tweaked' supertrend.
Why do you charge for it?"
peace
Hedvig
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See attachment he sent for 4 minute CL. He is basically selling 1st or 2nd retrace to the Supertrend.
lol. Bobby at a quick look at uncle mike trading room and his use of indicators, you will be better off looking at and learning perry's method for free here at BIG MIKE'S. If your new I can reccommend you learning 
