What Do You Want In A Trading Room
- Thread starter bthomas
- Start date
Sounds reasonable but only if the trader shows verification (broker statement) that the specific calls in question was actually traded and the trader lost money.
On the flip side, the above could become problematic via the following example.
Lets pretend they gave 20 calls in one month.
18 profitable and 2 losers.
However, you only traded 2 of the calls that happen to be the losing trades.
Does that imply you should get a refund.
Mark
I believe a great trading room would be made up of a:
1. Trader/educator that actually trades his own system real time whether in sim or real money. I have always learned the most from people that walk the talk.
2. These trades are called out before or at the time of execution depending on the type of trade. If a student does not take a trade under that circumstance it will be hard to bitch about it later.
3. Each trade would come with a specifc entry/profit target and stop loss with explicit money management spelled out as the trade progresses.
4. Each completed trade would have a post mortem done on it win, lose or draw. You will generally learn more from your mistakes than from your successes.
5. The Trader/educator would use a DOM for every trade.
6. A summary of all trades would be posted for the day/week/year.
This is not a comprehensive list, just a general one.
The above list contains items that a successful trader will be doing with or without a trading room.
I believe most people go to trading rooms for education with the goal of learning to eventually be able to profitably trade on their own. There is no better education than learning from a real pro that is educating(trading) in real time.
Good luck with your survey
1. Trader/educator that actually trades his own system real time whether in sim or real money. I have always learned the most from people that walk the talk.
2. These trades are called out before or at the time of execution depending on the type of trade. If a student does not take a trade under that circumstance it will be hard to bitch about it later.
3. Each trade would come with a specifc entry/profit target and stop loss with explicit money management spelled out as the trade progresses.
4. Each completed trade would have a post mortem done on it win, lose or draw. You will generally learn more from your mistakes than from your successes.
5. The Trader/educator would use a DOM for every trade.
6. A summary of all trades would be posted for the day/week/year.
This is not a comprehensive list, just a general one.
The above list contains items that a successful trader will be doing with or without a trading room.
I believe most people go to trading rooms for education with the goal of learning to eventually be able to profitably trade on their own. There is no better education than learning from a real pro that is educating(trading) in real time.
Good luck with your survey
Every vendor withoug an audited track record is selling Snake Oil.
Every attempt to deny it only shows they know it is trash.