So i visited the free trial that was offered this week.
First of all, i am surprised there is very little information on "acetrades" out there considering how long he has been around.
Mr. Ace usually shows no charts, only talks a lot and posts a few numbers here and there in a hotcomm chat (he actually did show indicator-free charts on a few brief occasions).
It was not clear to me if the numbers posted were supposed to mean straight numbers for entries or just potential entries, or maybe areas.
He also posted 'risk' numbers, which i believe simply are stops.
He appears to cover ES, CL, and GC markets from what i could gather.
Sometimes, he would start shouting and yelling like a maniac, or play ridiculous music, so i had to turn the speakers off, and i might have missed a few informative and clarifying words from Mr. Ace ...
Overall, he left me confused with his trading. Sure, a chart or a DOM might have helped. I have to admit however, i was not fully focused due to the music and the shouting, making me turn to other things temporarily.
I've put markers on my chart according to some of the stuff that appeared in the text chat. If these were supposed to be entries then i would have been stopped out on quite a few of them (think he mentioned a 3-4 tick stop is what he uses).
Again, i don't mind giving him the benefit of the doubt, as i cant really say i fully understood what he was doing.
Sometimes, it appeared the trade would work, but then it was not clear to me where his target was.
I do visit trials occasionally "on the side" and i just dont have time or motivation to sit there and listen for 2-3 hours of a "radio show" full of banter. i lose my focus pretty quickly and that's simply why i could have missed the occasion where he might have explained what he is doing.
All i can say is, if i was to demonstrate the effectiveness of my system to a bunch of strangers i would make it a bit more clear what i am doing and why you should send over your cash to become a member.
There were a couple of the usual type red flags:
- No 1, bragging about how many points you'd made as his student / customer the last couple of days. That record was played multiple times....
- Then, making fun of everything else out there, indicators, rooms, etc. He had a blast making fun of esignal's built in indicators.
- he went to do some 'training' after he was done with trading. Well the "training" was just mostly about showing a table with inflated numbers about how much money is out there waiting for you to be grabbed....
Others have mentioned that he does not even have a contact address on his website. I looked at the website, and he actually has one. However, on google streetview it looks like a strip mall... lol
The following 5 users say Thank You to toulouse-lautrec for this post:
I just completed a couple of free days. I agree with most of what has been said thus far. I get turned off by his constant bragging. Although, I was impressed during the initial part of the live session, after the session ended I came down to reality.
He mailed to the "trialers" a copy of the day's log. I am pasting it below. (I guess it is not proprietary since he volunteer it).
I accepted the challenge on the first sentence of his mailer and marked up the CL chart using his calls. His first "guess" on CL short was right on. However, he did not mention when to exit the remaining "trailing" contracts before reversing long.
Also, if you follow carefully the subsequent calls on the long side after he reversed they are very ambiguous and any trader would have lost his shirt going long.
Subsequently, he calls a reversal to the short side but that was way too late and he did not follow through with any more comments. He left people in limbo on the short.
My two cents worth conclusion: In looking at the areas he made his calls it coincides with Supply and Demand areas. His CL reversal to long was on a demand area that eventually failed and CL continued its downward move. So as he would say "ENJOY" (saving $3500-$5000 subscription fee by sticking to s/d?).
----------------------------------- ACE log and advertisement from 11/12/2014 ---------------------------------
Now go back and put up a chart and see the number and the time that The Ace System is calling both the entry opportunities and the Targets on the E mini Sp and Oil CL markets today.
First thing this am Bears being called sells on CL and then bulls a bit later on in the session on CL . Fine and dandy well over $1000 dollars called easily on CL once more today .
Now for the Emini SP go back an see what time the Ace System called the Bears on the Emini Sp and what time The Ace System called the 10 point Royal flush targets down side once again with Clarity and precision. Thats well over 20 points called by Ace again today in the Emini SP.
07:17:58 {Ace} Good Morning all
07:18:09 {Ace} Congrats Ace members on another super huge day yesterday
07:18:55 {Ace} Huge run up on CL and Huge run down in GC Called Live Yesterday with Precision according to the Ace System and methodology
07:19:07 {Ace} Calling the very top and bottom in this room Yesterday CL GC
07:19:09 {Ace} Enjoy
07:19:46 {Ace} Sell Bears folks CL
07:20:32 {Ace} Bears on CL Oil
07:21:14 {Ace} HUGE
07:21:47 {Ace} Again key 9 pushing down side ES for now
07:22:30 {Ace} tank folks CL
07:22:33 {Ace} <<Dive>>
07:22:36 {Ace} CL
07:22:49 {Ace} nice move cl
07:23:02 {Ace} <<Hooahhhh!>>
07:24:19 {Ace} big move down CL folks from 46.65 ARea Called here at 7.20 this am
07:24:33 {Ace} resistance on ES is 41.50 so stick with Bears Sells as well
07:24:35 {Ace} Ace key 9
07:24:53 {Ace} Huge run there CL folks called before the move down
07:25:51 {Ace} take some profit out CL folks
07:26:22 {Ace} take first profit at 76.34
07:26:25 {Ace} CL
07:27:51 {Z_Ron} good
07:27:51 {D_Jimmy_Jet} y
07:27:52 {Z_Pete} Morning Ace and all
07:28:09 {Ace} Enjoy Again folks last signal Bears Called on CL
07:28:16 {Ace} as well as ES 41.50
07:29:45 {Z_Frank_D} good morning all
07:29:46 {Z_Michael_H} Good Morning all
07:30:20 {Ace} ES Key 9 Pushing down side members ES, CL
07:33:31 {Ace} enjoy a great start to your day folks
07:35:33 {C_Dre} good morning Ace and all...
07:35:45 {Ace} ES Resistance ES called earlier 41.50
07:36:25 {Ace} IF multi lotter cover half of position now at 2040.00 ES
07:38:09 {Ace} Pull the risk down now cl now to 76.50
10:43:32 {b_danny} according to the system, we should DIVE from here
10:43:33 {11-don} y
10:43:33 {Z_Biagio} y
10:43:33 {Dk0} y
10:43:34 {D_Bruce} y
10:43:40 {Ace} Whos on Bears folks
10:45:04 {Ace} Stick with Bers folks
10:45:08 {1Jeff_S} y
10:45:08 {D_Lowell} y
10:45:09 {1John_L} y
10:56:04 {Ace} 43 Bears folks
10:56:08 {Ace} 43 for now
10:56:11 {Ace} Enoy
10:56:15 {Ace} enjoy
10:59:09 {Ace} Enjoy folks Bears 2043 as posted Thanks !
10:59:15 {Ace} risk now at 43.25
11:00:45 {Ace} if multi lotter cover half of position at 41.50
11:01:41 {Ace} Stick with Bears folks
11:01:44 {Ace} Whos on Bears
11:01:55 {1John_L} y
11:06:50 {Ace} Stick with Bears folks Perfection once again
11:07:26 {Ace} Trail risk now on Remainders if scaling out at 2042 if scaling out at first targets of 2039 Area
11:08:53 {Ace} <<Dive>>
11:08:59 {Ace} 5 point straight to get started folks
11:09:16 {Ace} more on the way folks
11:10:28 {Ace} 10 point royal flush coming next ES folks
11:11:33 {Ace} Leave remainders at 2042 if scaling out
11:13:40 {Ace} If scaling out take next profit at 2037.50 and then shoot for 10 points next targets
11:14:17 {Ace} Thanks !
11:15:45 {Ace} Lets tank folks
11:15:53 {Ace} huge day once again
11:16:08 {Ace} Big day folks
11:16:11 {Ace} Lets Tank folks
11:16:22 {Ace} if multi lotter scaling out
11:16:23 {Ace} ES
11:21:36 {Ace} another Fantastic day folks
11:21:42 {Ace} as per the Ace System
11:22:08 {Ace} Nice 5 point straight again there ES folks Then look for 10 Point Royal Flush Next
11:22:12 {Ace} Thanks ! and enjoy your day
11:22:33 {1John_L} Thank You!
11:22:37 {Ace} Enjoy folks Thanks !
11:22:41 {Z_Rich} Thank You ! Ace
11:22:57 {Dk0} Thank you Ace
11:22:57 {1John_L} Incredible!!
11:23:06 {Ace} Thanks ! folks
11:23:14 {Z_therminator} thanks again Ace
The Ace Live demonstrations are held in Real Time not after the fact Seminars peddling magic indicators and such. Dare to show us anything that even comes close
The following 2 users say Thank You to justtrader for this post:
watched the live demonstration again today for a while.
the good news is, i did not hear any yodeling today.
ace identified some inflection points in the market, which he used for counter-trend trades. he allows price to go a few ticks against the identified levels for "floor traders probing". So basically he implies some margin of error but keeps repeating how often he calls the market turns "to the tick"... ;-)
unfortunately, finding potential levels seems to be all to the "system". To be clear, sometimes the market will make a bigger move from those levels, sometimes it will barely move.
if it moves a decent amount in his favor, he will make a big fuss about it, leaving the observer to guess where he might have taken profit, if any. if not, he will shove it under the rug or play it down as break even or small loss.
he furiously kept calling long trades in a downtrending CL market today, over and over again. some of the trades might have been good for $100-200 / car (under optimal, theoretical conditions), however it was totally unclear where he would have taken profit. in all fairness, he reminds his followers to take partial profits often after a few ticks for "multi lotters". what would have happened with the remaining contracts is not clear, stopped out at be? what about those trading just one contract?
many other of his trades that i have witnessed would have been break even trades at best, more realistically however they'd been losers and eventually would have wiped out any gains.
Certainly it would have been much much more profitable to short the CL today, and i wonder why shorting was not considered.
Let's be clear about this, if you are experienced and are able to exercise good risk management you may survive this kind of trading. if not, you may easily find yourself thrown under the bus.
ace is clearly a show man and might have been used car sales man previously... he kept talking about those trades which would have worked in a way as if he was able to cure cancer, but all the trades that didn't work were obviously not worth talking about.
He later emailed a daily recap which i would not exactly call "brutally honest".
I certainly doubt he is trading at all, probably not even sim.
Having said above, i would still like to learn how he determines his levels, just because i am curious and there might be something useful to learn here. Unfortunately you pay not only in hard cash for his teachings but it is also clear that you will have to bear his oversized ego and constant banter. Not sure i can afford.
The following 2 users say Thank You to toulouse-lautrec for this post:
I too was in the room today and mostly agree with what you say, but then today was a super hard day, although it sure would have been a great day to short.
I had been in a prior trial and was absolutely amazed at the accuracy of his trades. His stops were super tight, 3 to 5 ticks, and I was able to put aside the constant yelling , yodeling and noise. When I did, I was able to make fantastic trades, almost 200 ticks in CL. Today was harder. It may have been due to the market moving around so much. His calls were too rapid for me today but then I was pretty tired too (I live in Hawaii and have to get up at 3 am for his room).
He may or may not be trading. He has one chart with no indicators and sometimes draws a line that he trades from. I would sure like to know how he gets so accurate. I have seen about 6 sessions. I am not sure how long I could handle the constant talking but after a few times I did get used to it and was able to pick out his calls.
i am sure most, if not all the people here dislike him and I got kicked around a bit on another thread for saying some favorable comments on another room similar to his, School Of Trade. I don't have an axe to grind and simply want to make money. I have been around a lot and I am pretty used to super eccentric people, so these wild personalities don't bother me. Welcome to the World of Trading!
ps...try to keep an open mind. Caution ; passionate opinions ahead.
The following 4 users say Thank You to JCHAWAII for this post:
The day I am referring had announcements and news. When I say it was a tough day I am saying it was a tough day for me. Ace did well and if I paid attention (you REALLY have to pay attention there and that "ain't" easy) I would have done very well. Reviewed my trades and found my mistakes.
There is some similarity with SOT here but as we say in Hawaii "kinda the same...but different" Both post huge daily gains, both have a lot of self confidence (ie ego's), they love to talk and a lot of people here really hate them. Really, really hate them.
I am super curious by nature. I am around the biggest ego's on earth (pro surfers) on a daily basis so I am able to look past that but there ARE a lot of red flags here. Try to get as many trials as you can and get used to the bantering and noise. I made 7 1/2 points today but I am exhausted...lol I have one more day after 3 trials and don't know how many I can finagle. I do wish ACE and SOT were more transparent but then I am not about to let you read my books (for my company)...lol...john
ps...did I mention the yodeling sounded quite good when I made 7.5 points?
The following 4 users say Thank You to JCHAWAII for this post:
i was in a three day trail last week ,i was very inpressed with the way he can call a buying level and a sell level , ace does show his chart you can see the level that he is trading off of ,and he will tell you to take profits at mostly one point profit if he is trading the es that day and leave the rest for bigger profits .most of the time the market will go for much bigger profits , but he does not tell you when to scale out for the bigger profits i guess that is is for the member s who have took the couse that know the money mangetment that ace uses ,he uses a 3 tick stop above or below the posted number for sometime the market will go though it so you have to be carefully ,i have not took the couse yet ,just the trail i contracted him and he does one on one training for 1200 per hour so i might give it a go in the future i just dont know how many hours it would take to fully learn the system, so i will see
The following user says Thank You to jerryjerry for this post:
I received an invite for the 3 day freebie. I only tracked 2 days - took about 15 minutes to figure out what he was doing. He also has a couple of YouTubes.
It's just a 23.6% fib retracement level usually measured about an hour and half before the open. He only showed the ES, but that was enough to figure it out.
Today he didn't post the level until about 45 minutes before the open.
Chart size is either 50 or 144 tick from what I could see in the 2 days I listened in (I only stayed in about 20 minutes).
This is not rocket science folks. He gets an outrageous sum of money for his training and mentoring. He only answers easy questions - I asked him if he always gets his levels before the market opens - no answer. Only answers questions with regard to his course, chat room, etc. Nothing substantial.
He does get his 5 pts though - have to give him that - at least when I was in there - also tested his method on a few random charts - I've seen something like this before only on 15 minute bars. Would have to test a bunch of charts under different market conditions to see if it's a viable strategy or not.
He uses a 3 tick stop. One trade was stopped yesterday but overall, came out with 10 pts.
He does not publish any stats - so there's got to be a reason for that - otherwise it would be all over his website if he made that 5 pts every day or at least most days.
P.S. I will train you in this method for $.50 cents.
he kept talking about those trades which would have worked in a way as if he was able to cure cancer, but all the trades that didn't work were obviously not worth talking about.
