Quote from Whimsy:
Picking up on a few things in this thread -
The guy who told me about the $312,000 loss says Hoffman showed how to tell the difference between an Infinity simulator and an Infinity live DOM. Evidently Hoffman constantly puts down "simulator trainers." Claims if you are going to teach put your own money up. The simulator is supposed to have a blue background, live white.
Hoffman constantly says he is trading for himself, that he is a trainer. Consult your broker for advice.
His best guess as to the exit time 12:10 to 12:25.
Also says Hoffman has promised to prepare a video explaining what he was thinking, etc, during the blowout trade. I'd say the loss as real.
Says the cost of the room is $785 for three months. Believes that the subscriber number since early January has been between 700 and very close to 1000 since Hoffman joined TTM and was promoted by them. So if you assume 800 @$260 a month, TTM's gross is around $200,000 a month.
Friend is a half-way successful trader, joined room to see what was going on. Says Hoffman does teach some decent setups and price action. However, was really surprised at the degree of averaging down. Commented on it to Hoffman in room a number of times. Hoffman never responded. Evidently the way Hoffman runs the thing, only he sees the posts to the room, picks those questions and comments that he agrees with, and then discusses them. So virtually nothing negative is ever exposed. After the blowup posts on TTM's subscriber-only Forum were evidently very negative and some negative posts were deleted. Posts kept coming. Hoffman posted he would explain all.
Friend had already decided to drop subscription and it expires shortly. He may or may not see the promised video. He will tell me about it if he does see it and I will post info here.
Hoffman was running Power Charting before joining TTM. Subscription rate about $3,000 a year. Best guess about 150 - 200 subscribers based on comments Hoffman made shortly after merger. So he probably had a pile of money independent of his trading. Just bought an 8,000 square foot house. Guess there might have been a little ego involved in not taking a reasonable loss, forget the technique.
