Yes, the trading room is free. She is planning to open another room, starting in May, for a minimal fee....about $50, for people who trade the currency futures, so the room will be open from around mid-night until 5:30 AM MST, then the free room will be open from 5:30 AM 'til about 9;30 AM after that. There will be someone else moderating the paid subscription room, then I understand she will come on at 5:30 like always. The person who will moderate the paid subscription room will be someone who trades her methodology.
She also holds seminars from time to time but you can learn her methodology by participating in the free chat room. People can ask questions and she answers them. For people who have taken one of her seminars, she has opened a Wednesday chatroom (for free) from 2:00 PM - 4:00 PM EST as a follow-up to her seminars.
She does sell indicators as well, but I have heard her tell people they do not need her indicators to trade. She said she has people at her seminars who come with their own chart setup and indicators and she still works with them.
I think she is very generous with her time and she is always willing to help anyone who is willing to learn. One thing I like about her chat room is there are not different moderators all the time. She is the only one who moderates the free room.
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Yes, I agree. He is excellent. However, it is my understanding in May he will be moderating the paid chat room for people who have taken her seminar or webinar. The cost is supposed to be $50 per month. That chat room is going to be open during the Euro session when I will be asleep! ;o) I am not sure if Anthony will be moderating the regular chat room after May. He might come on occasionally to give Gail a break. I think moderating every single day the way Gail does, it can be exhausting since she does her trading during the Euro session, then moderates in the morning until about 11:30 EST.
I'm not aware of any other "free" chat rooms like Gail's. Most require a subscription. Woodies CCI used to have a free chat room but when he opened the paid chat room, all the moderators left to go there so there is no longer a live moderator in Woodies free chat room.
I have been in the room for about one year now. Trade only one set up and making money. I like it a lot. Gail is very good at what she does. Focus of the room on price action and risk. Money management is the major part of what she is talking most of the time.
Gail's set ups are easy to learn and to follow.
I have written about this room in the past but was told since she is using "spaghetti" indicators such as ADX and RSI then what she is showing cannot be good. LOL
I would try after all it is FREE for now.
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Currently checking out the free room and have signed up for Gails webinar. Lots of talking and not alot of trading being done... but it's early days so keeping an open mind for now. Having lookied at their indicators, I'd say most can be replicated with free stuff available... except for the ADX peaks which I haven't seen before. Robert who is starting a live room there comes across as very knowledgeable but has only being trading Gails method since January. Hardly a proven track record. Will let you know how it all goes.
There's a reason its free. Day after day of pointless chat with a few hit and miss trades. It did sway me back to using pure price action though, so that's a good thing. I don't believe their indicators offer any edge and may infact be a burden. There's been some 200+ pip moves on EUR/USD recently and the moderator was yapping the whole way down saying how the indicators were amazingly accurate. Honestly if a system can't catch a basic trend move like this... whats the point.
She has a paid room now for $49 a month, but it is limited to people who have taken her seminar. I believe Tickvix has participated in the paid room recently, but not sure if he is still in it. Just before the paid room was open, I believe someone by the name of Anthony, moderated in the free room to show how the paid room will be run. He did an excellent job of calling the trades and using Gail's methodology. I think Tickvix has been very successful since finding Gail, but he learned the methodology and can now trade without a "crutch."
Gail prefers the Euro, but since she now offers the paid room, she moved to the Russell in the free room. Not sure why, but I always traded the Russell until I found THD. I noticed lately that the Russell started moving when the Euro was choppy or not doing anything. But as fate would have it, if I'm focusing on the Russell, then the Euro moves. If I'm focused on the Euro, then the Russell moves! Frustrating, to say the least.
The free room is to help people learn to trade a methodology (her methodology), follow a set of rules and minimize losses. I would not rely on the free room to call trades. That really isn't the purpose of the room. As far as the indicators, you really do not need her indicators. I do have a couple of them, but I've found other things right here on futures.io (formerly BMT) that will mimic most of her indicators and they work.
Trading price action by itself is a wonderful thing if you can do it. But, as with most things, when it works, it works. When it stops working, then as traders looking for the holy grail, we start looking to add things. For me, I like to look for divergence and I've not found that by looking at price action alone.
There are very few "free" trading rooms (if any) that call trades and they all have a disclaimer. In the end, I know I have to rely on myself and not someone else to make money. I've heard so many traders criticize these online trainers because they do not post their trades to show how successful they are in their own trading. Even if they did, or were allowed to, how can you be sure they're truthful? I think I can judge whether or not someone's method is successful just by watching and observing. I don't need "proof."
What I've found is every methodology works, but only if the rules are followed for that specific methodology....and because we aren't "perfect" most of us have a tendency to add or change stuff....or maybe we do not react fast enough to get into the trade.....or more important, we fail to manage the risk, and that's where we fail.
What I've learned from Gail is that in order to be successful you have to develop enough confidence in a methodology (you have to "own" it) to be able to execute the trade when you see a set-up and then manage the risk. And, managing the risk is more important than the execution!
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When I first learned of THD and considered purchasing a few indicators from THD she said you really do not NEED her indicators to trade successfully. And that is true. She developed them to go along with the methodology that she teaches, but you do not need them. I also remember her telling me that she has trained people at her seminars who do not even use her indicators....she has taught them to trade using what they are comfortable with (indicators).
I also have a TOS account. If you are just starting out, I would definitely take advantage of anything "free" you can find as long as you learn something from it, but if you are looking for someone to call out trades so you can make money, a broker can do that for you. You will have to ask yourself what are your expectations from a free trading room? Do you want someone who will teach you the skills to be a successful trader, or someone to do it for you?
The important thing about free trading rooms is to learn a methodology you are comfortable with and use that knowledge/education to help you develop your own trading style. It takes many, many hours of screen time to build confidence in trading, and it can be hazardous/dangerous to your trading account if you become dependent on someone else to make money for you (call the trades). Also, losing trades is part of this business and it isn't just about making money....it's all about managing risk.
It took me a long time to figure this out and trading has taught me so much about myself, personally. Some of it I liked, and some of it I didn't!
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