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Uncle Mikes


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Uncle Mikes

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  #1 (permalink)
 bobbyacim 
new york
 
Experience: Intermediate
Platform: ninjatrader
Broker: mb trading
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Posts: 184 since Feb 2010

Uncle Mikes trading room:

Anyone have any experience with this trading room.

Says he trades live, everyday!

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 Michael.H 
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Well, if he says so, then it must be true....

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  #4 (permalink)
 babypowder 
Brooklyn, NY
 
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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.

Babypowder

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  #5 (permalink)
 bobbyacim 
new york
 
Experience: Intermediate
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Hi everyone,

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.

I will keep you posted on next weeks session.

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 bobbyacim 
new york
 
Experience: Intermediate
Platform: ninjatrader
Broker: mb trading
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Posts: 184 since Feb 2010

Hi everybody,

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.


Thanks...

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  #7 (permalink)
 SawDr 
Washington, DC
 
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Bobbyacim,
Are you still in the Uncle Mike room? Are his website results credible?

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  #8 (permalink)
 bobbyacim 
new york
 
Experience: Intermediate
Platform: ninjatrader
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Posts: 184 since Feb 2010

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!!!!!

Trading is just educated GAMBLING......

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 itrade2win 
New York
 
Experience: Intermediate
Platform: Sierra Charts, TOS
Trading: E-mini S&P 500
 
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bobbyacim View Post
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!!!!!

Trading is just educated GAMBLING......

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.

Sorry to hear your bad fortune. Good luck!

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  #10 (permalink)
 bobbyacim 
new york
 
Experience: Intermediate
Platform: ninjatrader
Broker: mb trading
Trading: 6e
 
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Posts: 184 since Feb 2010


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!

TAHNK YOU AND I EAGERLY AWAIT YOUR PROOF

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