"HT" has a very strange way of "calling the market". He gives levels above current price, and levels below, and which ever hits he finally says "tsp" (take some profit). Some of the levels have a few ticks between them, they are generally very close to current market price, unless the market moves somewhat, then he just posts more levels close to that current market price.
He says he trades 100+ contracts a go, highly unlikely and impossible to believe coming from someone that can´t even communicate simple instruction and/or direction about his posts. Maybe he is just an incredibly gifted trader and sees things no-one else can understand, I don´t know, what I do know is that until he says TSP I have no idea what he is communicating because in reality it could have been either way from when the post was made.
Terminology is easy to understand, and the levels are all given in advance, that is true.
The room is boring as no-one interacts.
If anyone is having success with this room and their "method" I would be very happy for you to prove me otherwise and teach me how to follow along with what should be simple to read and understand commentary.
I don´t expect anyone to teach things for free during a free trial, but if they are giving levels and they expect trial members to see and appreciate what they are doing, then you should be able to understand what is being said and at the least, which direction the trader is focussing.
The 2 week trial basically shows you that the market moves towards and through both upper and lower levels that he posts (well of course it does) - Not sure why anyone would think its amazing or enlightening in any way. I would however love to be proven wrong, because if he is doing in real time what he says in hindsight that he did do, then the guy is making many millions per year, on tap.
Last edited by Otterly; November 5th, 2013 at 02:32 PM.
Reason: add text
I have nothing negative to say other than I did not see a fit with me. For many people in the room the head trader looks like a Guru. But, I don't feel comfortable with his approach (my way or the highway). He is difficult to follow and you have to believe that he knows what the ES market will do but It could change on a dime and you have to be ready too and there is always so many possibilties that he can always tell you that he was right. So bottom line I was not confident that I could learn to make money day trading with leading edge.
Hope it helps
The following user says Thank You to entregens for this post:
This is the worst room I have ever been in. The moderator is extremely vague - and rude and downright hostile when you ask clarification questions. The only thing he teachers is "how to take notes" which is just ridiculous. He also doesn't like stops. I have been in a lot of rooms and I think this guy is a huge scammer.
The following user says Thank You to kriedd for this post:
Saw your posting Beach trader and sorry you had to endure this scam. From what i gather this is a manifestation of the the original Kingfish scam which was picked up by Ace trades. the vague levels and screaming at questions sounds almost identical.
I am in what is called the Silver Room at leadingedgetrading, where we trade the ES on a 5 minute chart. Here is my experience so far. HT is very good at posting accurate numbers in advance (many of the numbers are posted around 8:00 ET). It took me longer to get in sync than I suspected at the outset. He is very good at letting you know where the market is going, from where to where and what will change your mind, so it was frustrating that it took me as long as it did to get in sync with what he was posting. I think that can be a somewhat common experience, depending on how quickly you can let go of how you traded prior to entering the room. However, once you get in sync with his posts it more than makes up for the frustration.
Some people pick this up very quickly. It took me longer than some, and I will share what helped me to get in sync - it may or may not apply to others.
At first it appears HT is posting numbers for simultaneous upside and downside trades - sometimes that is the case because some traders in the room are trading multiple accounts and can be long in a primary direction and scalping a short as those opportunities arise. Generally though, by looking at his posted numbers and the surrounding posts you can tell the primary direction (if there is one). Often the posts are accurate to the tick, but not always. And of course there times when we lose on trades.
Here is what helped me turn a corner with HT (this assumes you have some concept of the chat room):
1) I was too analytical - when I took a macro view of what HT was saying my trading improved greatly (I am analytical by nature and my default is to zoom in, taking a higher view fixed that). This was probably my biggest "aha" moment.
2) Daily doing the notepad as suggested (you can find about a dozen leadingedgetrading videos on Youtube - including one on notepad).
3) HT has an assistant called Moderator B, and "Mod B" posts charts on the website showing lines reflecting numbers HT posted that day (later that night or at worst a few days later), where Mod B entered long and where he entered short, where his exits were and a few other things. After the trading day is over I mark Mod B's entries and exits on my chart and on my notepad.
4) HT recaps the previous trading day at the very beginning of the chat session (the chat goes from 7:00 ET through 16:15 ET and it is all text, not voice). I mark HT's recap on the appropriate day in my notepad and on the chart for that day.
5) I compared my entries / exits with Mod B's entries and exits, and focused on what numbers HT emphasized on his recap of that day.
6) HT offers two voice chats per week, typically 16:30 ET to 17:30 ET on Tuesdays and Wednesdays. In these Mod B explains each of his entries for the day. HT takes questions as well. There are times HT answers questions in a strong manner and sometimes it goes easier than that. Even though I sometimes got strongly worded answers I decided to ask questions anyway, because the main thing is getting what the market offers every day and I needed questions answered to do that. So the voice chats also helped me. Clearly there are people who are not asking questions because they are afraid of a strongly worded answer, but you will be better off if you ask anyway.
The problem for the new person is that HT is posting for a widely varied audience - there are professional traders in the chat room along with people coming in fresh from the Free Trial Room. So some posts have more meaning for professional traders but have little meaning to new people. It can be quickly overcome, but you do need to be aware of that.
The Silver Room costs $299 a month, which loosely comes to about a tick per day. You can make a good number of points trading a single contract, but if you trade multiple contracts you can stay in winning trades longer because you pare off 2/3 of your contracts at the first TSP (take some profit) post and you move your stop (by no means a tight stop) to break even and hold the remaining third for potentially more profit per subsequent posts. There is never any pressure to upgrade to Platinum level (I don't believe the Gold Room is open for newcomers any more) and in fact you have to pass an interview with HT to be accepted into Platinum, which is not a given. For now I am in Silver.
Using this chat room you can routinely get what to me is a surprising number of points per day, though it does vary by day. As mentioned, you get more points per trade (from an X to Y perspective) when you have more contracts because you can stay in winning trades longer.
I am not sure what people might want to know, so please feel free to ask - I will answer as best as I can with the experience I have at the moment, I still have more to learn. I am new to using Big Mike's so I might not think to check for questions as often as I should, but I will try to remember. I hope this helps someone!