Start day trading all the emini and futures markets with extreme accuracy. Great risk/reward. Small stops with large gains. You will get the institutional support and resistance levels that the big hedge funds and elite traders use. Once these numbers are reached a major reaction occurs in that market. This will keep you out of the chop and only trading the markets that are going to have immediate vertical movement. We day trade the SP500 Futures, Euro, British Pound and the Australian Dollar. Stop giving money to the professionals and start trading like one. Whether you're a C.M.E. Currency Futures trader or a Forex trader, this room is for you.
this is from the website
Last edited by nqcruiser; September 19th, 2010 at 05:24 AM.
Reason: mo info
LOL his site looks like a 3rd grader coded it for Netscape 1.0 Made with "webpage-maker" for people who don't know any HTML, won't take the time to learn the basics, and don't have the money to hire a professional designer. I would have trouble believing there's a highly-successful master trader behind that storefront.
My friend and I had his sevice for six months we lost money. There is always an explnation to us why we did not make money.
He would never take any trade in front of his students, because I do not think he would know how. Jay would always make money at list that what he would say to us in the early morning between 3:00AM - 6:00AM. OK fine I have no issue with that. But if system is wourking I should be able to make money any time of the day.
Well we thought when we came to his room he would be the one who can teach us how to trade. We were wrong and $1500.00 later we know we were wrong!!! He is FULL OF.... you know what I do not need to end this...
Stay out and look for other free services if you like to know how to trade. The one I like is Gail from Traders Help Desk.
I found Gail from recomndation from some on on futures.io (formerly BMT). Great bit of information from futures.io (formerly BMT)!!!
Well this is my 2c to this post.
Oh one other point now you can buy his indicators for just under $1K.
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Mr. Bean, you are correct about that site, and in that old thread you'll see me defending him, but after a month of being there, I found out otherwise. I lost my 500.00 tuition and also lost money trading his so called method. Anyone thinking this is the next best thing please beware, cuz it's not. He doesn't show his DOM and anytime there is a winning setup he would always say, " how many of you guys got that," after the fact, claiming that he just nailed it to the tic with 20+ cars, and many times the exact hi/lo tic of a move with size, c'mon. One will never know. You will always be a subscriber of his method because all you have is what you see on his screen, you don't have his indicators or know how he arrives at them, cuz they are "proprietary". I wish I could pull my post from Elite Trader, but I can't, so just be careful. Certainly it can't hurt you to evaluate this for yourself with the 3 day free trial. My 2 cents
His "institutional numbers" we do not know what they are since he would not show how he is getting them.
At the begining he would not even sell his indicators, but after we pressed a bit he made big favor and sold some of his stuff to us. Moreover at the beginning we only could go into his room to trade if we wanted to follow hos system. I did not like it much but my friend and trading partner wanted to try. By the way
now you can go on linen at symmetryindicators and get his stuff for only $695.00 what a BS. LOL
Well first off i did spend a month in his room last year. With the hardware malfunction and his perfect 20/20 vision of the markets after the fact, I left. After studying his charts and such I came up with the following.
His Institutional numbers are just pivot points. The same as you can get on MyPivots for free. If I remember correctly they are PP-S1-R2.
The main chart is a 2000volume chart with 34ema
His symetry dots indicator is nothing more than swinghi-25 and swinglow+25 for currencies and swinghi-6.25 and swinglow+6.25 for ES.
Hope this helps someone else not to give him a dime.
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Over the last few years I've seen more and more of these stories emerge, and the similarities are striking, to the extent that sometimes I wonder if there's a single scammer running 20 versions of the same game under different names for different audiences.
They all seem to have:
1. A magical mystical "proprietary" indicator, usually with its own pet name or trademark- this indicator often turns out to be some basic variation on a moving average
2. Cloak-and-dagger "institutional" connections - they claim to have worked for a major Wall Street firm or trade on the Chicago floor or whatever, they know the game from inside, trust them. Also their insider ties give them insight into what the "professionals" are gonna do today
4. They personally always got in exactly at the low and out at the high, using their magical proprietary indicators - but it's always in restrospect, and on each trade they had to fudge their indicators to one side or the other to get the exact high/low tick
5. Subscribers are never able to duplicate the scammer's claimed results, and the scammer himself is never able to achieve said results in real time -- this is always blamed on the subscribers' failure to understand the system, or that they misinterpreted the scammer's advice (which is always hedged-- "we're coming into support but it may go lower unless it doesn't")
6. A live room where people ostensibly pay to watch the Master trade, or better yet, to trade along with him -- but he never shows his actual trading screen and never calls exact entries and exits in real time, just vague mishmash about coming into support or resistance, then points out that he got in at the bottom... after the bottom
These guys (this guy?) appear(s) to make loads of money off the never-ending flow of new blood, and appear to have subscriber turnover rates of about 100% every couple of months as disgusted people leave and new ones are lured in...
As technical analysts we look for patterns, and I'd say any sign of the above pattern emerging in a fee-based service is a clear signal to hold onto your wallet with both hands.
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