Which real live future trading room I should choose?
- Thread starter Affecto
- Start date
- Status
This keeps on getting better.
Charging people $300.00 a month for 1 tick trades when the ES moves 30 points is truly absurd & outrageous.
Okay, I think I know the room. Perhaps it is time to move on. I checked out an open house today. It was the room mentioned by Joe4422. It is worth checking out for half the prize of what you are now paying now. The mentor seem to be able to help members pick good entry point and stay with the trend. He also explains the S/R levels with market conditions as well as his reason for taking the trade.
I had less than 2 hours at the room, so I can't give you any statistical info on his accuracy. May be Joe4422 can chime in here.
Today was the last day of my subscription to the live trading room, and I notice that I am already not allowed in the members area to download videos of the sessions, so I have no idea what trades, if any, were taken in the room today on my last day since I wasn't present in the room. I suppose I could insist on a link to the video, since, after all, I *should* be allowed to download the video since I PAID for today. However, after seeing yesterday's video in which he had $50 total profit on a day that ES dropped 30 handles, perhaps I've seen all that needs to be seen. 
I've been trading very cautiously on my own after Wednesday's debacle. I'm still on Skype with the other 2 traders, but they weren't calling out trades that I took or anything like that. They are both holding short for a swing trade over the weekend but I am flat.
I had 4 winning trades today. They were all 1/2 point scalps, with only 1/2 point profit on each. I only traded one contract, so my profit was a mere $100. These were trades I took on my own without anyone calling them out. I traded in the direction that the market was currently moving instead of trying to catch falling knives or rising swords.
I had two winning trades yesterday, also scalps, and only made $225...but hey...I beat the guy running that trading room who was charging me $300 a month....yikes! If it weren't for Wednesday's debacle I would have been in a better frame of mind to take the trades from my automated systems yesterday and/or not just try for mere scalps and I would have had a much better day yesterday, since the automated systems had nice winners. EDIT: Who knew that the S&P would drop another 10 handles after already dropping 20 handles?
I managed to have 6 winning trades in a row without the live trading room, even though they were mere scalps. However, I'm still down huge for the week due to trading recklessly on Wednesday. By breaking my rules on Wednesday, I wiped out a couple of months worth of progress which is very frustrating, and my account is down huge for the year. EDIT: But I managed to get 6 winners in a row when people in this thread were telling me I shouldn't trade, which I suppose is better than nothing. I suppose the real test will be when I get my next losing trade though.
I've been trading very cautiously on my own after Wednesday's debacle. I'm still on Skype with the other 2 traders, but they weren't calling out trades that I took or anything like that. They are both holding short for a swing trade over the weekend but I am flat.
I had 4 winning trades today. They were all 1/2 point scalps, with only 1/2 point profit on each. I only traded one contract, so my profit was a mere $100. These were trades I took on my own without anyone calling them out. I traded in the direction that the market was currently moving instead of trying to catch falling knives or rising swords.
I had two winning trades yesterday, also scalps, and only made $225...but hey...I beat the guy running that trading room who was charging me $300 a month....yikes! If it weren't for Wednesday's debacle I would have been in a better frame of mind to take the trades from my automated systems yesterday and/or not just try for mere scalps and I would have had a much better day yesterday, since the automated systems had nice winners. EDIT: Who knew that the S&P would drop another 10 handles after already dropping 20 handles?
I managed to have 6 winning trades in a row without the live trading room, even though they were mere scalps. However, I'm still down huge for the week due to trading recklessly on Wednesday. By breaking my rules on Wednesday, I wiped out a couple of months worth of progress which is very frustrating, and my account is down huge for the year. EDIT: But I managed to get 6 winners in a row when people in this thread were telling me I shouldn't trade, which I suppose is better than nothing. I suppose the real test will be when I get my next losing trade though.
Hey Leela,
Norrin's been a big help for me. You noticed on Friday he bought right off the open , and then switched to SDS and sold the ES right near the top of the day. and like you said, he explains each entry and give plenty of time to enter. The other nice thing about his calls is that he looks for extended moves, not quick scalps. But he does classify his trades into three groups:
tag along trades
Day trades
and hot potato trades
I know it sounds funny, but it's for a different style. The tag along trades are trades that all newbies can follow easily. He says that if you want to make money, just trade the tag along. Those are far less frequent, but consistently profitable. On Monday we bought DDM at the open, and shorted SNE at the open on Tuesday. He gives very exact entry, exits, etc...
ES tag along trades are starting next week.
Day trades are intraday ES or FAS, SDS, etc.. trades that are set up for potential extended moves.
Hot potato trades are quicker scalps designed to quickly get into a free trade, and then hold for an extended target. These are small position size, small stop loss, and are not as clearly explained as they are usually entered quickly off of something that has happened in the pit.
Well, there's my plug.
The room we're talking about is :
http://www.sandp500analyst.com
Tell him you heard from joe4422, and maybe I'll get a free month
Norrin's been a big help for me. You noticed on Friday he bought right off the open , and then switched to SDS and sold the ES right near the top of the day. and like you said, he explains each entry and give plenty of time to enter. The other nice thing about his calls is that he looks for extended moves, not quick scalps. But he does classify his trades into three groups:
tag along trades
Day trades
and hot potato trades
I know it sounds funny, but it's for a different style. The tag along trades are trades that all newbies can follow easily. He says that if you want to make money, just trade the tag along. Those are far less frequent, but consistently profitable. On Monday we bought DDM at the open, and shorted SNE at the open on Tuesday. He gives very exact entry, exits, etc...
ES tag along trades are starting next week.
Day trades are intraday ES or FAS, SDS, etc.. trades that are set up for potential extended moves.
Hot potato trades are quicker scalps designed to quickly get into a free trade, and then hold for an extended target. These are small position size, small stop loss, and are not as clearly explained as they are usually entered quickly off of something that has happened in the pit.
Well, there's my plug.
The room we're talking about is :
http://www.sandp500analyst.com
Tell him you heard from joe4422, and maybe I'll get a free month
I suspect you found his ad in a trading magazine?
Yes. He has been losing money for people for years. But always a new crop of wannabes to be plucked. Very consistent
Good thing you quit the room.. I thought you were still in, but looks like you got your smarts back.
Now use that to create a business plan. Watching charts for 6 months every for 6 hours, learning "price action" from a fellow over the internets is not a plan. What if the guy turns out to be a dud, like the chatroom?
If you do consider that a plan A, make at least a plan B. Trading is less of a job, and more of a lifestyle. You are sacrificing alot of time, and you should not expect it unrewarded.
What did you do the last 6 months?
- Status