Have to agree here. JP will not make you profitable, he will only teach you how MP works and that he is good at. You will have to become profitable on your own. I think JP can call some great trades and I have seen him do so. That being said, JP is a MP educator and not a room that calls trades on a regular basis. If your looking for that, you should look elsewhere. Hope this helps in your endeavors.
Lewis J. Borsellino just said this a couple of days ago. He said "if you had a method that made money all day long, would you share it? HELL NO, you would sit in a room all day and make money" I think there is not a truer statement.
This is largely true as we see from the number of shady rooms. Howver I am willing to believe there are a few rooms that call out genuine and clear trades that members can follow and that are profitable more or less month by month. I think in these cases the vendor is simply adding to his income stream which is not an unreasonable thing to do.
Why not simply increase the number of contracts rather than deal with running a room? Well that comes with more risk...
I agree, there are definitely rooms out there that are profitable. There are several traders over at Briefings (SCALP, BLUE, MOMOX and CHART that call live trades all day long and they make a lot of money. The rest, heed at your own risk. That being said, I have never made money trading someone else's ideas and trust me I have tried it several times. Maybe it works for some, but I definitely figured out, I am going to have to do it the hard way (on my own). I think that is just the way day trading works. No easy money.
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I listened to the free trial trading room for a few hours and couldn't take anymore. He was just rambling on like a salesman and didn't give any thoughtful market analysis or make any trades. So far the only trading room I have been impressed by is Al Brooks. He has a three day trial. He starts out at the first minute showing charts and giving his analysis of the market and has zero hype to get new members to join.
Yea so far this guys saying
"i wont show monthly profit reviews as no one would believe it.
I wont show Pnl As its on a different screen and your not meant to look at it anyway.
I wont tell you how much I expect to make a month as I just dont know and
I dont care if you dont believe me blah blah."
Im not saying hes a fraud but he has done nothing to differentiate himself from one so far.
And he has an army of loyal grandfathers willing to back him up at every criticism or comment lol.
This may or may not be in support of JPJ. A strange phenomena happens in chat rooms where the members feel real loyalty to their "leader" regardless of how profitable they are.
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JP is definitely entertaining. I think he has genuine setups and a good understanding of Market Profile. He clearly spells out what his game plan is before he takes the trade. I can easily picture him as my teacher of MP. Similar to FT71 in style but more brash and flamboyant.
Though he rambles at times, I think it's partly because of varying levels of experience of participants and I don't blame him when he gets frustrated.
Yes, he keeps the cards close to his chest and doesn't reveal a lot to the trial members. I don't find that wrong because his setups are pretty basic & common sense from the MP point of view (I am ofcourse guessing, from the last 2 days of listening to him).
I am considering becoming a member but only after a cooling off period of atleast 2 weeks after the end of this trial period. This strategy helped me save a lot of money over the years (not just in trading, but also in the malls!)
Did he give any evidence that he knows what he is doing? Did he give any clear trades in advance that worked?
For today( March 25, 2015), did he give any hint that it would be a strong downtrend day? Or how long did it take him to figure it out that it was a strong downtrend day? Did he talk about the market at all? Or was he just entertaining?
The purpose of the trial is to find evidence that there is value in something that you are going to spend a lot of money on.
These guys talk for a reason. There are always a group of people who will join with zero proof if they get the feeling that someone knows what they are talking about - which is actually a feeling induced by the gift for gab. If there is no evidence then the talking is just salesmanship. These rooms hide their trades for a reason.
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@jodistrict - You should check out the ES SP500 Spoo-nalysis thread if you are looking for transparency. Very informative and the guys often post their ladders or trade logs so you know you are not getting any BS.
This review is from a less experienced trader but I have decent experience in distinguishing real from bogus. HE IS REAL AND HAS A SOUND UNDERSTANDING OF MARKET PROFILE BUT TOO PROUD TO ADMIT THAT HE WAS NOT HAVING A GOOD DAY. He is more like a trading buddy rather than a teacher but his style is not for everyone. It could work for me though.
It was NOT a good day for JP. He was stopped out once, scratched a trade and let a small winner slip back.
What I liked - he pre defined his entry points, explained the logic (some of it), his stop loss and the target. He didn't fake entries or exits. His risk reward ratio seemed good, more than 3 to 1. His analysis is similar to the guy I respect - FT71 who I believe was his student. The best part for me was he realised within seconds that the price action was NOT going in his favour. Though he went quite whilst on trade, he did his best to give a live commentary about foot print action. He also patiently sat on a losing trade for a little bit, only 2 - 3 pts and eventually scratched the trade when he realised market has changed.
What I didn't like - his reaction after a losing trade. Instead of going back on the trade setup and doing a mini post mortem for educational purposes, he ranted for a bit about how he never said that he was better than others etc.
His analysis and prediction of price movement was generally right i.e Down Move but just like a regular trader (like me) he kept looking for a long trade, became bit defensive, then funny again but with less confidence. Worse, an hour later he said he was looking for a short trade whilst he was sitting on a long trade- DIDN'T LIKE THAT FLIP FLOP AT ALL. If you are real trader, you know that win/loss ratio often means very little. It's all about risk reward. Even with 40% win rate, you could make a living if you let runners run (which is definitely not my strength). Infact, that's the reason why I was considering joining his trading room due to his apparent ability to hang on to winning trades.
Overall, I think he is a genuine trader with good understanding about Market Profile. His analysis and prediction was spot on but NOT his execution. I don't believe when he says he doesn't care if you sign up or not. Ofcourse he cares - It's predictable income compared to unpredictable trading income. I think that's his marketing style and by repeating that people are signing up, it encourages more to do the same. I don't think there is anything wrong or shady about that though. However I am not paying 1500 dollars for something which can be learnt free here or from a book. I will continue to learn for free from FT71's daily analysis and NOT signing up for JPJ for now. I may change my mind after a day or two of watching him or after 2 weeks if I think FT71's free material is not enough. Please note that I am not prepared to pay for FT71's paid material as well. Not yet anyways.
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