Which real live future trading room I should choose?

Status
Not open for further replies.
Quote from FB123:

ultimately you're going to have to come up with your own trading strategy that suits you, not something that someone gives you. Having said that
More...

so true!!!!!!!!!!!!!!!!:cool: :cool: :cool:
 
Quote from Affecto:

Is that guy still doing well? Cause he have strange rules since I was watching him, like not trading if he get stopped out 2 times in a day and not trading in certain days and so on!!
More...


He doesn't take a million trade but his commentary is useful. I trade a lot of ETF and don't really follow his calls. I listen for the internals and commentary. He also does stocks and has a true portfolio, no bull shit. He went short BAC and BBT on Monday market open. We're still holding now.
 
Quote from joe4422:

He doesn't take a million trade but his commentary is useful. I trade a lot of ETF and don't really follow his calls. I listen for the internals and commentary. He also does stocks and has a true portfolio, no bull shit. He went short BAC and BBT on Monday market open. We're still holding now.
More...

You don't really follow his calls, but "we're still holding now"? Is that called a "slip"?
 
Well, I take some. I can only trade large cap stocks with my broker, so ones like BAC I can take. That has turned out really nicely by the way, so did BBT.
 
Also I am reading he still takes 1-2 tick profits because of "hyper volatility". Okay, so you do a martingale strategy averaging in higher and higher size contracts at better prices, then take 1 and 2 ticks of profit. If you think about it, the "volatility " of the ES is such a way, you will almost always have 1-3 ticks of jerky random movement. Then I don't think that it's uncommon at all to have a a 95% win ratio if you take 1-2 ticks everytime. Problem is if you scaled in such size and then gets stopped out, you have a big loss.
More...

Those who guessed the person who runs the room guessed correctly. To be clear, I never said he lost 22K in a month. I believed he lost 20K one day last week, but he later said it was around 12K. His DOM wasn't on the screen at the very end because his computer was acting up on him and he switched computers. So far the most I've seen him make in a day is 6 or 7K, using large sizes (if I recall correctly). **EDIT**: Actually, I may have seen him make over 10K one day although I don't remember for sure. He certainly is profitable over time and has a very high percentage of winners. It's the outlier losers that have been the problem so far (even if it's a loser strictly on my end as a result of not being able to properly follow his quick maneuvers on the DOM and wind up being stopped out).

For the rest of the year, he will be focusing on a strategy that is NOT a scalping strategy. If I manage to profit, and learn something, from being in the room, then I'll stick with the room. So far, I'm not yet profitable from following his trades, although he may have kept me out of trouble. On the other hand, I may have missed some opportunities. I agree that the amount of money I"m paying per month is quite a lot of money.

Today the /ES dropped almost 30 handles, and there was only 1 trade which wasn't very profitable. (he had to exit the trade early because of a technical glitch) I made money, but it was peanuts when you consider how much movement there was in the /ES today on the short side. Hopefully there will be more profitable days ahead.
 
Then I don't think that it's uncommon at all to have a a 95% win ratio if you take 1-2 ticks everytime. Problem is if you scaled in such size and then gets stopped out, you have a big loss.
More...

That is my biggest concern, and I worry about my merely screwing up following one of his successful trades could easily set me back several weeks worth of small 1 or 2 tick profits.

However, As mentioned in the previous message, he will be focusing on a NON-scalping strategy for the rest of the year. It SHOULD be better suited to someone not trading dozens and dozens of contracts. Will see how it works out.
 
Quote from Jreality:


Today the /ES dropped almost 30 handles, and there was only 1 trade which wasn't very profitable. (he had to exit the trade early because of a technical glitch) I made money, but it was peanuts when you consider how much movement there was in the /ES today on the short side. Hopefully there will be more profitable days ahead.
More...

Dude, that is ridiculous. The market was crashing like a stone for about an hour in the morning. If your teacher can't find some way to get into that move and only manages to scalp like 1 point, then he is a frickin' moron. Get rid of him. NOW. He doesn't have a damn clue what he is doing.

Here's a litmus test for you when finding an educator: ask them how they would handle a day like today. If they don't have a way to get in on the first retracement and hang on for the ride, then DROP THEM. They are useless.

I could tell you some very nice techniques to do what I'm saying and how to immediately identify when the market is starting to trend like that, but to be honest there are some things I don't want to share on a forum because it's my competitive advantage and I haven't heard anyone approach it the way I do. There are some things I won't talk about.

My advice to you is to go over the charts from today and try to figure out two things:

1. How exactly would you identify when the market is starting to trend in that fashion, as opposed to chopping around in a range

and

2. How do you get in safely the first time it pulls back.

Figure it out yourself, or find some educator who can teach you that type of thing. If your current educator can't tell you how, get rid of him.

P.S. Anyone who really knows the best ways to do this probably won't teach you. I sure as hell wouldn't do it for $300/month. Keep that in mind.
 
Quote from FB123:

If you're looking for a room where someone is going to tell you exactly where to get in and out all the time so that you will always make money, you aren't going to find it. You can't just follow someone else's trades and make money like that. The sooner you realize this point, the better off you will be.
More...

Agreed!!
 
Status
Not open for further replies.
Back
Top