I got caught up in all the hype and wasted $2,500 for a lifetime membership. There is no consistency here. I have seen very nice days where Jason caught a $2,500 winner and then lost $2,800 the very next day. The hype is great and not a lie. He gets the 144 tick trade, but what isn't said is that the trade brought him positive on the day. Overcoming -120 ticks is great, but this is not the norm here or anywhere for that matter.
Jason goes on and on about how great his levels are and that no one has better levels. BS. If he had the levels I develop, he would throw the crap he uses out the window.
He is a trader who isn't afraid to mix it up, but I firmly believe that without suckers like me funding his account, he wouldn't be trading. He doesn't know anything about the warning signs of trading. For example, I seen him put this trade on and I called this to his attention. CL had spent 1 1/2 hours at the IB low and was unable to break it and extend a 75 tick IB range. Jason had a "level" about 5 ticks above the IB and he had been talking all morning about how much he wanted to short that level and how it had just missed it at the open. So he stood in front of it and shorted. When I reminded him of the ATR of 160ish ticks and the fact that it had just spent all that time and couldn't take the low, his response was that he was only expecting 125 tick range that day.
Now, if there is anyone reading this that would put that trade on, for god's sake do not trade CL with real money. You do not know what you are doing. And these types of trades are the reason I say the whole deal is a waste of money. Is it for real? Yes. Will it teach you sound fundamentals that you can use to make a living trading? I do not think so and until someone shows me proof of live trading account profitability using this system, I will continue to say no.
The results of this one ignorant trade speak for themselves. By the time the platform Jason was using executed his strategy for the trade, CL was already 17 ticks past his stop and his stop order was rejected. I believe he got out with around a 30 tick loss per contract.
It's one thing to believe a level setting like this one was could provide resistance. And watching to see if there were signs of rejection. But to stand in front of it? Don't tell me you are a professional trader and then put that trade on. Don't tell me about teaching others and then say that is the way to trade CL. Don't run a room and put this trade on in front of students and then say "it is what it is".
I am not a professional trader, although I'd like to be. But I guarantee you, I may look at this trade an hour later, scratch my head and say would you look at that. But I don't care if that trade would have worked for 400 ticks, I would never put that trade on. And if that trade ever works, it's like a blind hog finding an acorn.
This is just like 99.9% of the trading rooms. It's ran by a retail trader. And the very best way to utilize these rooms is to watch for set ups against what they are looking for, because 90% of the time retail is dead wrong.
The following 5 users say Thank You to Randy Dotson for this post:
I did a 3 day trial just for sh*ts and grins about 2 months ago. I had the same perception. He has his levels, which is great, but he has no concept of "Context" using the price action and market structure. 2 days was all I needed. Didn't go back for the 3rd. Got an email on the 2nd evening, clicked "unsubscribe" and haven't thought about it since until I saw this thread. BIG thumbs down for me...
Funny, I saw him do basically the same thing you did. He shorted 3 times in a row on crude, fading a day that cl went up over 150 ticks. He kept saying, "I'm going to stay stubborn here, I've got my levels". It's been my experience that being stubborn rarely pays. And when it does, it's just enforcing a bad habit.
Thanks, but No Thanks...