I am a member now for almost a month. I bought the course too. It is expensive but I am very pleased of the investment made. I am still learning all the setups (there are over ten). It is nice to see almost every day calls made for 50c to $1. I am not able to take all of them yet, but I did take several for 30c-40c. The overall risk to reward ratio is very good. There are two types of calls: the ones posted on the 5minute chart which are very straight forward and are for those who pay for the room only. The chat is where a lot more calls are discussed, but it is manly for the advanced members. You really have to get the course to understand it. I bought many other courses before but this is by far the best one. One thing that I like a lot about their approach is that they have many types of setups some for 5-10c and others for big moves...and it is plenty to choose from and learn.
Probably after the BIG Mike Forum is the second best thing that happened in my trading so far.
This post has been selected as an answer to the original posters question
The Chart calls are tracked and stored and were at one point emailed out. They are "incorrect" at best. The chart calls may have been posted on the chart but the stops are ignored. Here is a typical scenario.
The first call is made: Buy CL 95.00 (so you go long near there)
Then this: Reduce CL 95.10 (so you may get this also)
then price drops way down and you should have stopped out at break even but then 20 minutes later price moves back up and.....
Reduce CL 95.50 is posted
So now you ask the room "did I miss something, i thought we were stopped"
The question is either ignored or answered like this "well, you need to pick your own stop based on your own risk tolerance".....which is true, unless you are following their system which calls for the stop to be break even.
So lets look at the opposite situation.
Buy CL 95.00
Reduce CL 95.10
now price drops down and never comes back up. So you ask the room..."where did we stop out at?"
Now once again you are either ignored or your answer is this, " After the first reduce we normally move stop to even, but thats up to you."
You can however rest assured that the results posted on the site will definitely favor the moderator. So by the end of the day, the chart will show that the room made 160 ticks and you will be sitting there holding your ten ticks pissed off. That is of course if you didn't take several stop outs before that (which you will get often).
Be prepared to be ignored on technical analysis questions unless you have paid $4,000 for the manual.
Almost no calls made in advance. Stops never specific. And the records of calls are just simply far from obtainable.
The following 2 users say Thank You to highlander for this post:
Its been awhile since you posted this so not sure if you're still interested.
I would not think they would recommend to you contract quantities,risk is something you need to calculate based on your tolerances and experience.
As mentioned though,having the ability to break your trade up into two parts(one for specific short target and the other for a runner)is something they advocate and its normal for the way they operate.
So obviously you need to trade 2 cars. minimum.
Aside from that,i have a permanent membership with these guys and find them very professional(i haven't been in the room over the last 6 months due to other things).
I have even received emails from Scotty asking how i was going and if i needed anything.Say no more about service.
Smith(ProJ) was built for this game and he knows his stuff.If you're new it can go over your head but give it some time.
Also you need to give these guys a break.Image you're running a trade room helping others while you trade CL.
To ask questions about the 'why' of a trade while CL is going ballistic is a bit unrealistic(hey that rhymes lol)
You must do your homework and understand prior to session about their methods so that you won't need to call on Smith while he is in heat of battle.
I think they do a great job and their service is highly recommended.Hoping to get back in there full-time again soon.
just my 2pennies
The following 2 users say Thank You to switchtrading for this post:
the last time i posted a bout bontrade i was during the trade room for about 3 months and i made money everyday but then they stoped posting the trade calls in the charkbood text they was using so you could see the calls and understand them now every thing is in the text form and if you have not bought the couse you will not understand what they are talking about .so if you are not willing to pay 5000 for the couse dont waste your time in the traderoom because you will not know what is going on.
I have a very simple and straighfoward method to evaluate trading rooms and other signal services as follows,
a) why they do not disclose their audited account statements and give the trades (date, time, product, dir, quantity) in the easy format (.csv or .xls) so everybody interested in could check the system ?
b) if they do and the results are so amazing as they say why an earth they need others money ?
Just think about it.
If you have such a good and profitable system why you would not disclose your results if you still are after the new subscribers: The most efficient and best marketing method ever known by human kind, allmost no questions can be asked and the product would sell like a hell ?
If you have such a good system which can produce for example 10 tick daily profits consistently you will be a millionaire within a year and a billionaire within a decade (using dynamic position sizing). So why bother to take care all the public business, customer and teaching overhead ? Just trade by yourself, get rich and be free !
I think in this case they have something quite good in their hands and can occassionally achieve good results but not consistently so their equity curve gets occassionally big hits. Curve does not look good and the system is fragile in the long run. Being in the boat at the wrong time you can lose much or all. This is what they do not tell you nor show you the real trading results.
So they need to collect money from others to keep their own equity curve up and linear.
This is how I see the bontrade.org so it does not look any better than other 1001 producers in the cyber space.
Last edited by Scalpguy; April 2nd, 2015 at 01:11 AM.