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Need help? 1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first. 2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses. 3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make. 4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance. 5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers. 6) Help using the forum? Watch this video to learn general tips on using the site.
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JP is by far the most brilliant, nice, genuine and funny educator I have encountered, and the best part is you'll learn MP. The poster who said he is not only the best trader but also the best teacher is on the money. He is the real deal in the trading room world.
ETA:...and without a shadow of a doubt -- he has integrity!!!
Last edited by plethora; April 2nd, 2013 at 11:27 PM.
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[I]'ve been in JP's room for 2 1/2 years. He's a good teacher but it takes a while getting used to his style.
Attached is my template for the Gomi chart i use in the room. I use amp with the CQG feed and it works great. I keep a Gomi recorder running on another workspace for the data. Hope this helps
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This is my 2nd or 3rd trial with JP. I have just started a weeks free trial again yesterday, but after one day, I remember everything that was bad about his trading room. He may make profits for himself, but neither you nor I will ever make profits by following his trades for the following reasons:
1. By the time he calls his trades, the market has already moved away from his entry point. He often calls the trades after they have gone at least half a point in his favor. The reason given is that he cannot manage to put his trades on an manage his microphone at the same time. This of course is total rubbish. All he has to do is leave his mic switched on. Its not rocket science.
2. He says he has levels that he is watching and does sometimes announce them when the market reaches them or when he is in a trade and the market is getting near them. However, one needs to be prepared to enter a trade when your setup occurs. Most traders can see their setups taking shape and know that there is a probability that it will be triggered in the near future and its at those moments in time that your focus is honed in and waiting. JP NEVER announces that a setup is taking shape and that we should get prepared. Consequently, even when he calls trades late, you will still be caught by surprise. This is also total rubbish.
3. When calling his late trades, he shouts down the microphone to make it look like hes just taken action. He also shouts down the mic what his stop is. Most times I cant even understand what he said and the sound from his mic is breaking up. This I remember from the last free trial too. If I was more cynical, I would think this is deliberate and an attempt to confuse guys trying to follow his trades.
4. When the trade goes against him, he McGyvers the trade. This means averaging into a trade within an entry zone. In theory, there is nothing wrong with this. However, he McGyvers into the trade while we get stopped out at his announced stop level. By the time he announced that he was McGyvering into the trade, we were already stopped. He claims that this is an advanced technique. However, there is absolutely nothing to prevent him announcing what he will be doing in advance of the price reaching his McGyver levels. All he has to do is announce 1. The initial stop 2. The McGyver zone and 3.his McGyver stop after entering the trade. This will allow the individual to choose to take the initial stop or to McGyver into the trade as well. However, he never does this. Everything is done after that fact. So, he breaks even or makes a profit while we lose. Again, we cant even McGyver because he calls these AFTER price has moved back in his favor.
everyone understands that he may want to keep his setups for the people that are paying him. No one could have a problem with that. But he seems totally incapable of calling trades in advance. Calling trades in advance would not give away any of his secrets. In fact, it would actually show everyone how good he is. By operating in the manner that he does, it indicates the exact opposite.
Perhaps his students who are trained in his techniques can trade along with him using his setups.
However, I now trade with a trader who says 100% of the time what he will be doing. This allows us to get into the trades at the same levels as him about 95% of the time. He explains his setups every day, announces his stops in advance and calls exits that we can replicate on almost every trade. When I compare what I am doing now with what JP does, I can see clearly that either JP is not on the level or else he is so disorganized that he is unable to communicate in a coherent and intelligible way. In either scenario, you will not be able to make profits in his room.
I wrote a review of his room last time I went through the weeks trial. I gave him a good review. With more experience in trading, I am now able to determine whether a trader is decent or not. In my opinion, I dont think I would ever be able to make a profit with JP.
Last edited by conorp; October 1st, 2013 at 12:25 AM.
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While i only took my first trial last night, i tend to agree with everything you've said, you hit every concern i had.
I'm sure that there must be a homework and study element that we're missing here somewhere...the other room members must know the plays and it seems like he is just confirming them or something. Overall in my view, if he would like more members it might be in his intertest to learn to use, or upgrade his mic....maybe be a little more forthcoming with information as the market is approaching his planned areas for doing business.
I was quite disappointed as i was looking for something to basically confirm my thinking in regards to trade location off the profiles for the ES.
I'll likely stick out a few more nights with them, but my expectations have been lowered dramatically.
Anyone know of a market profile oriented trade room offering trials?
Yes, I know of a Market Profile Room that produces trades that can be followed and traded getting almost the same results as the host. They publish their actual results for the last 30 months in spreadsheet format that can be downloaded. Their spreadsheet shows their Entry, Exit, stop point and the result of each trade. I have no connection with it and currently don't subscribe to it although I may do so at some point down the road. The room uses market profile and only trades the ES, NQ and YS. My focus is oil and that is why I dont subscribe. They do offer a 5 day free trial.
Send me a mail if you would like the link to their site.
Last edited by conorp; October 1st, 2013 at 07:47 AM.
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