To answer your question explorer. I am yet to trade live with the knowledge I have gained from the PLT course, the reason being I am still building my confidence and plus I am undertaking the VTFT course from Futex in June. But I will say that since the course I have only had three down days out of twenty five on the Futex simulator. I know that does not count so much but after blowing out three accounts thinking I could trade, the Sim results matter a great deal to me.
The beauty of the PLT course is that it forces you through drills and simulator exercises to find your own trading style. We all know that 95% of traders lose, so why is that? I believe it is because newer traders are constantly trying to mirror what successful traders do. Unfortunately these newer trader fail because 1. They try to be a copy cat 2. They refuse to put the hard work in and lastly they constantly look for the holy grail. Ive found the holy grail and its not a trading method or pretty coloured lines on a chart its actually ones self.
I will be the first to admit when doing the structured drills on the PLT course I was totally lost, but after training your mind to see certain patterns over and over things become second nature. You learn that its not just the big orders entering the market or that a big trader keeps reloading the bids or offers that moves the market, its also how the ladder behaves at certain levels. Its very hard to explain but you get a feel for it.
When I first started the course I was advised by Miltos (one of the main metors) that it would be best to just not look at charts. When I finished the course I turned my market delta and market profile back on and my god I saw things with such clarity.
I still have a long way to go, in the morning I trade and in the afternoon I do drills, each day I learn more.
I will say this for sure, once I have completed the VTFT course I will trade live again, the difference this time will be the confidence that I have gained from the guys Futex.
Sorry for the rant.
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Thanks for the review! It was very helpful. You mentioned that you've done the NoBSDayTrading course, could you elaborate more on the difference between the course? Was it specifically the drills you mentioned that helped you to break through, or was it something in the course material that was not taught by John. Thanks!
Last edited by KelvinKing; April 25th, 2016 at 06:48 AM.
Hey Kelvin. John Gradys webinars are great they taught me allot. I never could make his teachings work for me. For one I find it soul destroying trading the US Treasuries, Way too slow for me, and secondly I found it difficult to make his methods my own. That's when I decided to stop trying to emulate what other traders were doing and find my own way.
The main two differences between Nobsdaytrading and the PLT course are the way that the two are structured With Johns material you are given a set of very good starter videos to trawl through before the live webinar these for me were a little overwhelming. IE allot to take in. The PLT course however is run over four weeks with modules and tasks each day slowly building your knowledge as well as your pattern recognition skills. It is the perfect practice day in day out that imprints certain reoccurring patterns to memory.
An example would be, before the course I could see absorption at a level easily, but now I can see the absorption plus the heavy buyer or seller having to aggressively go to market to fill his order because price is moving. That sort of information is gold dust.
I started the PLT course trying my hardest to become a swing trader, I finished the course consistently scalping 3,4,5 ticks out of the market, and feeling very comfortable doing that.
Another fantastic aspect to the PLT is the communal chat, I learned so much from taking to other students about what they were seeing and cross referencing what I thought.
Hope this is of help.
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I did the VTFT course last year.
My advice would be to ask the instructors to provide real time examples of how they use the various tools (especially marketdelta).
You get a lot of theory, but a lot of the course is "figure it out for yourself" which I felt was pretty poor.
Make sure you ask a lot of questions on what to look for when using volume/market profile. It all seemed fairly long winded, and there was never an actual sit down lesson on "how to interpret volume profile" to summarise the important points in order to build some sort of strategy.
Of course, they will say that you have to figure it out for yourself (could have sworn I had paid for a course) but don't accept that. Ask for a structured class on volume profile that explains the core precepts (you just read a book then go straight in to analysing a profile every day).
Don't think I'm explaining it too well. You read a book, and then dive in without hearing how professional traders use profile, or look at different structures etc, in an organised classroom/teaching setting. It might be mentioned, or someone might ask the question, but it is not done formally which I think was a major oversight.
Let alone the "here's is what happened yesterday" sort of analysis. Screw that, let's see a trader interpret the market in real time-how hard is it to get someone to record their screen?
Well, apparently it's impossible. Considering that trading has just been halted at futex I think I might have the answer.
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Thanks for the quote. Not sure I asked for it though.
As far as volume profile is concerned I know what Im looking at already.
The reason for me doing the VTFT course is for structure. You obviously didnt get much out of the course Im sorry for that. But I will make my own judgement thank you, and Im big and old enough to ask my own questions. Regards.
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I studied profile long before coming into the price ladder course last week, just getting used to reading and trading off the DOM. The Futex training complements the free Jigsaw course that I'm currently reviewing. The Jigsaw course is actually pretty good too.