Hello, last week I sat through a presentation from Rob Mitchell of oiltradingroom.com . I was surprised to see little or no information on Rob Mitchell, or his room on BigMikes, or anywhere on the internet for that matter. Of course his website has many positive reviews and I have to say his webinar was rather fascinating and did seem to stand out above the norm that's peddled these days.
If anyone on here can shed a little light on their experience there, that'd be great.
My motivations are simple; I'd just like to continue on my path of learning from seasoned experts and pros, such as FT71, Dalton, P. Davies, etc. I don't mind to pay here and there for quality education, and am just seeking an honest review of Mitchell and his site outside of the positive reviews on oiltradingroom.com
PS, he also has indicatorsmart.com
Thanks for your time
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I will report an extract from a discussion about oiltradingroom from another forum:
A- I signed for the trial of the oil trading room (oiltradingroom.com). It has been 2 weeks and still on trial. So far so good. Rob doesn't show his trade but his tools and his commentary are extremely good and insightful. I was able to make some money almost everyday listening to his commentary, looking at his Mega Bar chart and a bit of my own stuff trading Crude. Maybe, the trial period will be over soon. When will it be I don't know.
His MegaBar chart is extremely good. I haven't seen any bar that is as smooth and clear and gives good signal like that. Unfortunately, MegaBar is not for sale. He keeps it for himself and it is only available if you join the trading room.
The rest of the tools used in his trading room are available via the IndicatorSmart site.
Does anyone has any of this tools? They look very good. The UTB bar has been shared here before I think but looks like this version is updated and new. If you have the uneducated indis, pls post here for our expert like admis can educate them pls. Thanks for reading
Why do you think he won't show a DOM or Chart Trader with the trade he calls and claims he's in? Even showing SIM trades are better than nothing IMO.
I think he doesn't want us to follow his trades exactly. He wants us to learn the rules which are clear and publicly available (Rules | Oil Trading Room | Live Trading Room | Day Trading Crude Oil) and be independent so noone trades exactly like others . I am pretty sure he takes live trades himself coz sometimes he shows his chart trader with trades on. He said he want us to learn and follow the rules and he is there to give us him views and insights into the crude market which I think work quite well for me for the last 2 weeks.
So, I think this room is good for his MegaBar and his views and commentary. For the rest, you have to be on your own. It may not be good for beginners who like to copy trades but if you have your own method and want to leverage on his MegaBar and experience, I think it is good. Just my 2 cents!
Maybe, you can join the room and figure out what the MegaBar is and we don't need him any more!
What did you find as an extraoridinary feature of MegaBars?
You can try to achieve the same by using any renko types with the ability to change the parameters of bars.
can you make the same type of bar ,admis? or point me to the renko bar that looks the same. I am no expert on this type of renko bar so I do'nt know whether it is possible to to create the same type of bar like his.
Looking at the blog articles and the image, you can see that every time the Megabar engulf entirely the previous bar which is running opposite direction, it produces good buy and sell signals. Coupled with the high volume on these engulfing bar. It can provide good signals and stops are just below/above the signal bar . Of course, we need to understand the current trend and context to filter out counter trend trades.
Also, the bar with the wick against the trend is also good I think
Anyone can point me to the same type of Renko bar that has wicks and the brick portions and reversal parameters can be customized?
Ps: The author said he is confident that noone can create the same type of bar . That's why the rules are publicly available. And he doesn't sell the MegaBar
C- You can try to check SBS renko or Better renko.
btw. "...the Megabar engulf entirely the previous bar which is running opposite direction, it produces good buy and sell signals." - This is rather a drawback than an advantage of this family bars... Try to measure the maximum range of reverse (engulf) megabar.
Edit: I've just sent (in another thread) hpBars which you can test as well.
Ticks To Continue: 5
Ticks To Reverse: 10, (2*Ticks To Continue)
A- Thanks C. I think it looks quite similar to BetterRenko bar.
Take your Pips, go out and Live.
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I believe u can look at different systems, subscribe maybe to some, learn but then turn out with ur own strategy.
I made the oiltradingroom.com system on my own,looking at his videos and getting the indicators from here and tweaking them. U don't need much, all is free here.
The following 3 users say Thank You to fredgas for this post:
sve renko, u can use 10 or 5. in this image 10.
no stops today.
enter just in direction of t3. then take a 60mins chart, plot mk supp dem zones that u can find on here, and a volume stop indicator and ema 89. when the bar of setup(the one prior to entry, has a wick and also the volume stop is above its average line), then enter.
same u can do with an ntrenko 10...
also he uses 5mins with mk supp dem...
nothing easier then this... and u want to give 400 dollars x month for him?
better u study alone....
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