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The following 8 users say Thank You to Big Mike for this post:
This really isn't a trading room because the trader, a veteran floor trader, trades all instruments day trading and swing trading. I learned a lot about the way the guys on the floor in Chicago, and New York Merc, look at the market. I paid $250 for a month, cashed in big time shorting the indexes, and wiped out the gains shorting crude.
Hi, regarding jpjtrading, how hard is it to learn from him assuming one is beginning from a blank slate, i.e. 100% noob? Also, it appears he uses IRT/MarketDelta as his platform, so what about the NT users? Are there other members in there who have developed workarounds? Also, you said that to make the best of his method, one would have to trade multiple contracts, so how hard is it for a single-lot trader to stay afloat? And what's the recommended min account size?
JP is good trader but not so hot to teach. I have been in his room and study with JP. Two years ago JP did not have any documentation for his set ups. I do not know what he is offering now. When I study with him I had to document all his set ups as he would show all in the room. His teaching was very desorgnized, so if you are new to trading I do not think you should jump with JP. One other point about JP and I must give him some credit for it. JP is one of the most discipline traders I know. He would not diviate from his set up at all. He does trade from 3-6 lots and would take some out, but at the end would keep a runner for very long time. On the other hand if he is wrong he would let bad trade go and add to bad position. In this case he would call it a "wiggle room". In some cases he would add to bad trade which he would call it McGaver (spelling). I could never get used to such trading.
So since rules are rules you ether trade or not.
Now since my account could not hold such trading I could never truly was able to take full advantage of what JP was doing.
After all said and done I continue to think that JP is very good at what he does when we are talking about trading, but not all good traders are good teachers.
So if you do not have enough account size and you do not know how to manage your money I do not think JP would be good place for you to start.
Just my view on the subject.
PS if I was still trading ES and was still looking how to trade with Market Profile I would look to see what TraderGirl is going.
The following 2 users say Thank You to tickvix for this post:
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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I have to say that last week, you could have thrown a dart blindfolded and had a good week. There were two huge trend days. Peeling off one or two points? There were some 8-10 point moves on the ES. The Euro on Tuesday, looked like the backside of a rainbow into the pot of gold... Nes Pas?
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