Chip Cole runs it and trades 3 days a week, the opening 2 hrs only.
The video makes it sound like it is easy to shadow Chip's trades and that he is very consistently profitable.
He trades 2 lots in the room and is part of a Topstep Combine, so that his trades are verifiable.
But... to enter the room you must sign up for the 3 month course which costs $2.5 k.
Also , I haven't been able to see any verified trading record.
So I'm hoping to hear from someone who is/was in the room.
Personally, I think it's unreasonable to ask someone to pay that amount upfront without at least a trial,
but they don't offer one.
The video's title is "Shooting Fish...." (i.e. in a barrel), but I'm always skeptical....
Even if you haven't been in the room , what do you think about the video presentation ?
The OFA Algos are paid with the basic package you buy from OFA. Don't get me wrong, OFA is a solid set of software, ready for Pros to use. This particular "package" of indicators for trading the Treasuries does not really use the strengths of the classical OFA algos. And therefore the presenter does not either. I sunk the money, but asked to recommend this particular set of indicators for others to buy, I could not.
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I see. Could you tell us how things went in the room ? Was is mostly profitable on a daily basis ?
The site does say that you don't require OFA software to benefit from the room.
Given this, do you think it could be a good place for a trader new to Bonds to "earn while you learn" as they claim ?
So apparently, you are not invested in OFA, you are looking for a place to learn how to trade the Treasuries. To that I would say, this is not the place to start. An experienced trader may not need OFA, but here you will not learn how to trade without it. You are asking all the questions newbies ask. Profit is not the first thing to consider. Shadowing a trader in a room, is the fastest way to lose your money. Many people found this out in the room and bailed. The Treasuries, Crude, and Gold are thin markets compared to say, E Minis (yesterday the ES traded 1,379,742 and the ZB - 254,277 in Volume), and they are very expensive to trade. Meaning, you need a large account so you can take the losses you will incur.
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Yes I am a newbie,and slowly figuring things out. I use Sierrachart so cannot use the OFA software,
but I am learning order flow and try to create something similar with what is available in
Sierra( e.g. Diagonal Comparison Ask/Bid Vol. etc).
I've learned a lot from the OFA site and webinars, thus my interest in the room.
Thanks for your reply.
Actually, if you really want to understand the power of OFA and learn to trade with this powerful tool, you ought to follow DB (the creator of OFA) at twitter - @OFAPioneer. He posts "The Trade of the Day," most days. He has compiled many of them over the last few months. You can use these, not to shadow a trader, but to watch to understand trading and learn how to look for targets, how manage risk, and see that even experienced trader have losses. You can do this from your browser and clicking on the link will take you directly to the YouTube clip. On July 27 he posted 2 traders, a 6E for a loss and a GC for a win. he always posts them with commentary which in itself is a tutorial. here is the link, but there many others you can find if you subscribe to OFA in YouTube.
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