I still get those emails. My conclusion is on the days where price just trends off the pit open, given his first trade is an OR trade, they have a good chance of winning on those days. My experience was when it chops around you have no chance with how they trade - my personal opinion only. I believe this is the most expensive room I have come across thus far at $500 a month last I saw. What is not made clear is how those ticks are achieved, sometimes through scaling in sometimes not. I guess thats why a trial is needed.
Maybe ask for a weeks trial - I spoke to some guy there and he was pretty helpful. He tried to convince me there was no other instrument better to trade which put me off too, but it wasnt too painful.
Sometime mid-Sept, I signed up for the Oil Trading Group (OTG) webinar which was focused on the OTG Market Maker Levels indicator. The OTG Market Maker levels are time-based, modified Fibonacci, support & resistance levels that are used quite extensively in the OTG trading room. Other S&R levels are also used in conjunction with these levels in the room. The webinar, among other things, included this indicator and the JigSaw price ladder. Also included a 3-month membership to the OTG trading room (I have since signed up for a 6-month membership, which included all OTG indicators as well, & I will most probably sign up for the lifetime membership program).
After the webinar, I 'shadow' traded Jason, the head trader/owner of the OTG, for an entire month on 'simulator' mode. Also did back testing on several of the OTG indicators during that time. Results from the first month was quite impressive & profitable, albeit with play money only.
I went to live money trading in November and have been on the right side of my trades, with Jason's guidance (i.e. shadow trading) approximately 70% of the time.
Room opens promptly @ 8:45 a.m. daily. Jason takes the 15 minutes prior to pit open to provide a detailed briefing on market structure & his expectations for the day. Room trades the CL & ES. I only trade the CL.
Shadow trading with Jason is not for the faint-hearted, however, I must warn. Entering into losing trades is part of the game, unfortunately, and there would be days when several losing trades in a row could occur. It is not uncommon for some traders to be gun-shy after a few losing trades and may stop trading altogether, as i have done as well. Then the runner trade materializes and one could be left in the dust...
I am a 3-contract trader, which is what Jason trades on most initial entries. 1st & 2nd targets vary, but usually 10-15 ticks for target 1 & 20-25 ticks for target 2, not always. Contracts added on runners. Jason's targets are based the the levels I mentioned above and 75 to >100 tick trades are not uncommon.
if one desires to get a look & feel of what goes on in the room, I suggest you view the market update videos on the OTG site and/or sign up for the free room trial offer.
Just FYI, I am merely a paying member of the OTG and am providing my experiences here with the room thus far (3 months now with group).
The following user says Thank You to PilotTrader for this post:
For the benefit, and full disclosure, to futures.io (formerly BMT) members who read my post above, I would like to update my views & sentiments with regard to the Oil Trading Group trade room. Unfortunately, I am now convinced that the trading style & methods used in the room does not conform to my trading requirements. Multiple trades are often taken, IMHO, simply based on 'feel' and does not conform to any trade set-ups that were taught in the educational materials provided by the site. As a result, I experienced huge consecutive losses whenever I was in the room, not necessarily consecutive days, since I do not generally trade every day. On a few of these losing days, the lead trader would simply state that he has reached his loss limit and simply close the room down. So here I am, with a few thousand dollars of stopped trades, trade room door simply closed and hoping tomorrow would be a better day.
I apologize for what some may consider positive, maybe even glowing, endorsement of the room in my original post. At the time I posted, that was my honest assessment. Current view I have now is a complete 180-deg reversal and I will no longer participate in the room nor extend my membership.
The following 7 users say Thank You to PilotTrader for this post:
Just went in for a look at how they trade the open. It's a pretty wild ride. Especially on the opening trades they take. Not sure it's for me but I'll give another go tomorrow. I really would like to find a trading room though. It gets pretty boring trading on your own. Feel a bit like goldilocks- this room is too fast, the treasuries rooms are too slow (seriously I don't even know how they have anything to talk about at all...) need one that's just right...
The following user says Thank You to install251 for this post:
Ran 13 months with Jason's OTG in 2014-2015. The greatest discovery was personal: I am not a positional trader: Jason is a positional trader. In pre-market, Jason determines probable CL market direction prior to market open. When CL hits his pre-determined market level after open, he "steps in front of the proverbial bus." Using a 10-15 tick SL, he will take profit on the first contract at 10 ticks and let the remaining contracts run. More importantly, he is patient and holds trades for large targets even while watching order flow. When the market moves in his favor, Jason will add contracts incrementally. Positional traders can ride 100+ tick moves because they are willing to enter the market at key levels.
I am not a positional trader, so I couldn't 'stay in the kitchen' while he cooked the numbers. He has since refined his system and trains traders to trade with Top Step now, I think. He is an impressive trader to watch and listen to. If one can handle the being a positional trader, then Jason's style of trade is to be learned. When he wins, he wins big. All in all, Jason is the real deal. I appreciated his overall confidence and support of his traders.
www.oiltradinggroup.com as a Live trading room for OIL, anyone?
I must say I've never been a fan or seen great value in trade room. I have been in 3 over the last 6 years. I feel it's time and money better spent finding a mentor over email or Skype very informal. Obtain some education recommendations and learn. Read some good books. Have an open mind and be willing to look at the world differently than the masses. Be somebody the worlds need more of, would welcome more of.
Doubt kills more dreams than failure ever will. Perfect: the enemy of Done. per·fec·tion·ist: ultimately one lacking self-confidence
Buy Low And Sell High (read left to right or right to left....lol)
Last edited by Blash; April 5th, 2016 at 11:04 PM.