Hi traders, anybody was in Emini Day Trading room? They use E-mini NASDAQ, mini Russell 2000, mini Dow Jones, E-mini S&P 500. I've been in their free trial and they seem to be quite good. Thanks for any feedback.
I tried the trial months ago. I think it is bogus. They have these magic levels that they don't disclose where they come from. They do not show their live trades which they could easily do, which tells me they are not trading live. If the trade hits a level and it works the trader says he is in. If it doesn't work out he mysteriously passed on the trade. I don't trust anyone unless they call their trades in advance and if they do you have to tell me you are cancelling it if you pass on the trade. Don't be fooled anyone can say they are long on a winner after the fact. Show me. Just my opinion. Save your money and learn price action on futures.io (formerly BMT)!
The following user says Thank You to longboat for this post:
I did trial and completely agree with you Longboat. I tried to follow his trades (sim of course) and got stopped out frequently. I asked why he didnít get stopped out, he said I have to risk more which I really donít like itÖ.I think the fee is $399/month which quite expensive for the room without learning something; but you may make $$$ if you're lucky with bigger risks . I would spend my money for something else.
The following user says Thank You to goodtrader for this post:
I did the free trial and I even subscribed to them for thirty days. That subscription is almost over. I have a full report for my bros in this forum and I feel that this will exceed anybody's expectations. First I will list the Pros and Cons regarding this trading room.
PRO: John and Don (the two people who seem to run the show with Momentum Trading Systems' Trade-the-e-mini. Are easily available for contact and let you ask questions.
CON: You will not be able to see the questions other people ask in the room. Jon and Don are always telling you what other people are typing. This includes continuous reports
and claims about how other members are writing in the chat room about how they have hit their profit goals for the day and they are going to the gym. I heard this a million times
but I was not able to see this one. For all I know there is not a single person writing that and it is a scripted ploy that they use to lure you into thinking they make money.
PRO: You can see their charts on every day's broadcast and you can view the trades as they set up on their charts.
CON: You cannot see that Jon and Don are actually trading. They speak as if they do but they say things at times that REALLY leads me to believe they are not really trading.
PRO: Jon and Don claim to be continually successful in their trading.
CON: They will not show you any account statements. Also it would be easy for them to show you a P/L Day or P/L Open on the screen but this is not done.
PRO: Each morning they provide you with a trading plan that is pretty defined
CON: You will not receive this plan until a few minutes before the market open
CON: You will not be able to get them to send you reports of days prior (this should be provided without issue but it is closely guarded for some strange reason)
PRO: The trading plan is rather simple and easy to follow
CON: JON (the main trader who leads the room, almost never follows his own plan. He is rather good with entries but when it comes to exits he will usually get out too soon.
PRO: They have extensive records on their page that show their track record of success. This includes one man's detailed testimonial complete with system statistics and glowing profits.
CON: I have kept my own track record as of the past 30 days and it is abysmal. read below.
I took their daily trading plans and coded them into Multicharts. the system makes money for a while only to turn back around and lose it all over again.
I would like to tell you the extent to which this coding went. I made multiple variations of entries and exits, profit taking targets and scale out systems.
I tested entries from all the provided levels, and I even optimized for stop size. ALL THIS WAS DONE OVER 40+ HOURS OF PROGRAMMING.
The result? Based on the 25 days of trading that I tested the system is simply not profitable. It was below break even just churning and losing a little.
Add in commissions and slippage and the backtest results can lose as much as $7000 in those 25 days.
Please forget their system and come up with something on your own.
Last edited by HectorPriamedes; November 3rd, 2013 at 11:42 PM.
Reason: I accidentally posted without finishing.
The following 4 users say Thank You to HectorPriamedes for this post: