Which real live future trading room I should choose?

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Quote from FB123:

Well in my case I trade crude, so no - there is absolutely no way to trade tick by tick on that instrument. I never use the DOM, just a very short-range chart.



Here is a quote from another thread on my method. It's probably the hardest thing to do in the markets, and I don't always do it. I usually do wait at least 30 seconds to 1 minute after the release for it to give SOME indication of where it's going.

http://elitetrader.com/vb/showthread.php?s=&postid=2554697#post2554697




In order to analyze news, you have to analyze it in the context of market action. The big players already knew what the news was. They created a big run up so that people would notice. Then the "good" news comes out, and all the clueless newbies jump in. They think: "The market has gone higher, and now there's good news that came out. Aha! So THAT'S why it went higher! I was holding off before because I didn't know why it was running up - but I'd better jump in now that I'm sure things are good, because now it's got to keep going for sure!"

The average person is clueless. They really don't think much further than good news = higher, bad news = lower, and this thought process is reinforced in them every day by the lies spun to them in the mainstream media about what's really driving the market. That's why they're called sheep. The players set the sheep up, set their sell orders up top, and unloaded as the dummies were buying. Then they created a rout, as all the weak hands sold out in a panic. ("What's going on??!?! I don't understand??!?! How can the market be dropping like this when the news is good?? It must be a mistake! I KNOW the news is good, who are these dummies that are selling? I know, I'll just buy more at these cheap prices since I know that things are fundamentally good now! Oh crap! It's still going down!!! AAAAAAGGHHGH! What the HELL!!!! How long can this damn thing fall!?!?!?! Holy Crap! This is too much!!! SELL SELL SELL SELL SELL SELL!!!"

Usually that's right about when the bottom comes.

That's how the clueless people are liberated from their money. So when you see good news come out and market stalls (especially after a rise), or you see bad news come out and market just sits there and churns huge volume but doesn't drop very far, it means that the big players are reversing their positions and using the news to get the sheep in on the wrong side of the trade. This is easier to spot at a bottom than a top, usually. Bottoms form in an incredible panic, tops generally have a distribution phase that lasts a bit longer and is a bit harder to spot. Incidentally, they have been doing this for a couple of weeks. The market has been churning in a range for a number of trading days after a rise of 2 months. That's a sign of distribution. There were also divergences forming with other markets that had to make you cautious to the downside.

Right before any big drop you will probably get a quick final rise, and right before any big rise you will generally get a quick final drop to shake out the weak hands and get them going the wrong way.
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How do you objectively determine what is bad news and good news? And how do you determine whether market is legitimately rising or doing a quick run to the upside before going down?

"Right before any big drop you will probably get a quick final rise, and right before any big rise you will generally get a quick final drop to shake out the weak hands and get them going the wrong way."

So if the market goes up, it might be the precursor to a downmove, and if the market goes down it can be the precursor to the upmove, all the while you have to keep in mind whether the news is positive or negative and when it goes down on good news it means the big players are selling, which means you could have a quick run to the upside, and vice versa.

This is why I don't trade the news, I rather trade pure TA and avoid having positions or tighten stop during news, than trade this mess. I am no fan of these trade methods that sound so vague, like gap fills and such.:confused:
I understand you can't be too precise FB123, but news trading like you're doing sounds so complicated.
 
Quote from Jreality:

I wish I hadn't been so foolish as to try and short this manipulated market.

Even though I'd like to short the farm to get back the money I lost, I'm definitely worried that Sept. and Oct. won't be a replay of last year.

Still I'm wondering if they could keep really the charade going beyond, say, next Spring? Could they really keep it going that long?
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I doubt it. I could see them extending it to the end of the year or so, but it's really tough to predict at this point. There is a commercial real estate crisis that's starting to rear its head now. There are still lots of problems out there, and you can't fix things by just printing more money. Sooner or later we will have a reckoning of one sort or another, but as for predicting exactly when - I try not to do that too much, especially when the market is not playing by normal rules.

This is exactly why I trade such short term movements - none of this stuff ever really bothers me. :)
 
Quote from college_trad3r:

How do you objectively determine what is bad news and good news? And how do you determine whether market is legitimately rising or doing a quick run to the upside before going down?
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http://www.forexfactory.com/

They have a page with all the news release times, along with expected numbers. If it comes out better than expected, the number is green. Otherwise, it's red, or black if it's in line with expectations. That's all you need to know. :)


So if the market goes up, it might be the precursor to a downmove, and if the market goes down it can be the precursor to the upmove, all the while you have to keep in mind whether the news is positive or negative and when it goes down on good news it means the big players are selling, which means you could have a quick run to the upside, and vice versa.
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You don't know for sure what's going on until after the news comes out, and it's not an exact science. But you don't need to do that anyways - just follow the price action and the trend. I didn't need to know the news or anything else to see that it was topping and dropping - the price action told me that. I would have gotten short regardless of the news, or even if I had no idea that there was news. It's just additional information that confirms what I'm seeing on the chart. When multiple sources of information agree, it's a powerful thing.


This is why I don't trade the news, I rather trade pure TA and avoid having positions or tighten stop during news, than trade this mess. I am no fan of these trade methods that sound so vague, like gap fills and such.:confused:
I understand you can't be too precise FB123, but news trading like you're doing sounds so complicated.
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You don't have to trade the news. Just trade the price action, and be aware of when the news is coming out, probably not trading for 5 minutes around it. The price action is all that's important anyways - if that fits into a theory around the news, then great. If not, ignore the theory and follow the price.
 
Quote from Jreality:

I wish I hadn't been so foolish as to try and short this manipulated market. I figured that they couldn't keep it propped up this long.

Even though I'd like to short the farm to get back the money I lost, I'm definitely worried that Sept. and Oct. won't be a replay of last year.

Still I'm wondering if they could keep really the charade going beyond, say, next Spring? Could they really keep it going that long?
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And therein lies the conundrum.

Stop trying to make predictions and hit homeruns. Instead, focus on making high-probability trades and earning money over a series of trades instead of just one single trade.

Whenever I hear someone pontificate about what the market will do now or in the future, I immediately know that they are not a successful trader, because successful trading ONLY exists in the form of probabilities over a series of guesses and not just one.
 
Quote from FB123:


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.


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.
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There are some things I will talk about.

Folks that just registered on ET and claim to have secrets that no one else talks about are a dime a dozen.

chemistry.JPG


"Finally, my ES potion is ready to drink"
 
Quote from FB123:

I'll tell you my setup since you're curious, but no specifics on my method. I trade primarily off of a 20 second chart since I am a scalper. I also have a 1 minute and a 3 minute. These are my primary charts that I stare at 90% of the time. I also have longer term charts further out of my line of sight, right up to the 8 hour and daily time-frames. Those are very useful for seeing large...
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Very nice post, thank
 
Quote from Fast_Trader:

My recommendations:

http://www.tradepilotpro.com - Joe and David are excellent traders and mentors. They have a free trial.

http://www.coiledmarkets.com - AustinP

http://www.eminiaddict.com - David's an honest and standup guy and has a no-obligation 7-day trial.
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Thanks Fast_Trader for sharing
It seems that www.tradepilotpro.com website is not working! Do you know any thing about them, or they went bankrupt?

http://www.eminiaddict.com does seems to be a nice guy, but he said in his website:

I’d like to remind you that the purpose of this trading room is education. This is not an alert or trade signal service. I will not be making any trade recommendations during the course of the day. What I will do is conduct real time technical analysis on the Emini futures to help identify key areas. I will also help put together a profitable trading plan throughout the day. :(

Still dont know about http://www.coiledmarkets.com AustinP although he seems to use a kind of indicators (you know how those indicators things works!!) Does any one have real life experiance about him to share?

Thanks for all of you guys for keeping it simple and clean :)
 
Quote from FB123:

Not likely, but I'll let you know. :)

With TradeGuider they have something called the VSA club which is free to try for the first month or so I think (it was a while back anyways).
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FB123, thanks a lot for sharing, You have used a lot of time trying to explain the real deal and your way of trading, I can feel what you mean sometimes, and feel how much hard it is.

Would like to ask you if you know any thing about those guys:
http://marketdelta.com/ and http://blog.marketdelta.com/
have you tried them or heard about them? Are they like http://www.tradeguider.com/ ?

Any body else have an idea about their method?
 
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