Which real live future trading room I should choose?

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Quote from joe4422:

I've done the TTM room. There is no education, no screen sharing, but you can get them chatting with you sometimes. Calls were about 50%. They were often late to the room, logging in after market open. They switch it up amongst four or five people, so there's no track record either.
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This confirms what I've seen 0f JC's performance ... these rooms are the land of eternal fraud ... but hope springs eternal.
 
Quote from joe4422:

Made over 800 bucks on the first day. So far so good.
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The regular room is now neglected. There was an obvious short trade right after market open. Norrin was too busy with the $500 room and forgot his regular room.

You trade 8 contracts, $800 is only 2 points. You are taking big risk (unless u have big account) to trade so many contracts all at once. Risk is all yours.

Folks in the regular room might had taken 1 or 2 contracts and got their $100 or $200 today. As it happened, Norrin's mic was not working for the regular room for the best trade. How convenient! The regular room got nothing today.

I wish you luck. I am not sure his regular room is still worth the trouble. I hope I am wrong but am not optimistic.

One mentor, multiple rooms at the same time. Total conflict of interest.
 
The short trade was discussed in the newsletter the day before, and was discussed again before market open. I think he even did a video on it, so everyone should have gotten that one. The ES trading room he spent about a total of 3 minutes in. He just said sell, and then later set targets, stop and shut the room. He's made it clear to us that he's not taking questions or talking to us, he's just calling his trade as he takes it and we're following along.

Also, I don't think you should assume there's anything crazy or risky about trading 8 contracts. If you have a succesful consistent system, why not leverage it? Do you really think professional traders trade in lots of 1 or 2? I've been with the guy for about 5 months now, and I don't think he's as bad as your assuming.

A 3 point stop with 8 contracts is a 1,200 loss and he said the normal target is also 3 points, so it's a 1 to 1 risk to reward. Even a coin flip should avoid losing money.

But like I said, I'll let you know, good news or bad news.
 
Quote from joe4422:

Made over 800 bucks on the first day. So far so good.
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Making 800 with 2 contracts, u are doing great. Making 800 with 8 contracts, it is so so.

It is poor risk management to do 8 contracts in a single trade for a 10k account. U can make a killing or lose your shirt.

Good luck.
 
Quote from joe4422:

The short trade was discussed in the newsletter the day before, and was discussed again before market open. I think he even did a video on it, so everyone should have gotten that one. The ES trading room he spent about a total of 3 minutes in. He just said sell, and then later set targets, stop and shut the room. He's made it clear to us that he's not taking questions or talking to us, he's just calling his trade as he takes it and we're following along.

Also, I don't think you should assume there's anything crazy or risky about trading 8 contracts. If you have a succesful consistent system, why not leverage it? Do you really think professional traders trade in lots of 1 or 2? I've been with the guy for about 5 months now, and I don't think he's as bad as your assuming.

A 3 point stop with 8 contracts is a 1,200 loss and he said the normal target is also 3 points, so it's a 1 to 1 risk to reward. Even a coin flip should avoid losing money.

But like I said, I'll let you know, good news or bad news.
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He's already beginning to make the targets smaller..?? A 2 points target with 3 point stop is a 0.66 to 1 reward to risk. not 1 to 1 as you mention. And trading such a risk reward with 8 contracts and $10k is suicide. Been there done that. :eek:
 
Quote from Big Money:

Jreality,

I am sorry to say you are not living in reality. Denial is a powerful tool. We have met the enemy and it is us. Read that again. We have met the enemy and it is us. You have received some excellent advice and tips from FB123 and he has gone way above the call of duty but you have largely ignored most it. What I am saying is your biggest problem is you, the biggest weakness of your system (I am using the word system very loosely here).

You are a gambler looking for a shortcut to easy success. You have been told many times many problems but you still “want to keep going on your current path” because you just don’t believe in yourself. How do I know you are a gambler? If you have a system you won’t follow, you are a gambler. If the system/setup were robust, then the mathematics would show that following the rules was in your best interest. But knowing it is in your best interest to follow the rules, you still won’t do that. Doesn’t that sound like gambling to you? Instead you are “hoping” things get better instead of doing the things you need to make them get better (or at least improve you chances). You have been advised to cut back on live trading to get in a better state of mind. You ignored that advice because you need your fix, your action, even if it costs you money. On top of all this, you are trading one of the most competitive markets in the world. Do you really think you can compete without having all your ducks in a row so to speak?

On top of all this, you are considering putting more money into a strategy to try to play a game to lower your tax loss. Talk about putting the cart before the horse. I suggest you take a step back and evaluate if this is for you. Based on this thread, it may not be. Decide if you are willing to do the things to help your chances of success, not hurt it. The past is the past. Learn from it and apply what you have learned going forward. The hardest thing to do is to stop trading to work on yourself and your systems/methodology. But that is what the discipline to be a successful trader is all about. Because without discipline, (.i.e. following your system, etc.) the battle is over before it begins. You are responsible for your success. No one has as much vested in your success than you. Remember that.

Good luck

BM
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+1 for this post Big Money

As bad as it sounds, before you go into trading, you should have a plan C. For when you fail everything. It should not have anything to do with trading. And you should not try to avoid it if both plan A and plan B don't work out.
Jreality's trade plan A was executing somebody else trade plan.
Now he's trying to execute his plan B creating his own trade plan.
But if this fails he has to do sómething. From what i read the last 6 months he did nothing productive at all. He just got scammed for 6 months into doing nothing, trading a so-so failed trading method. And he paid dearly for it, in time ánd money :(
 
Quote from joe4422:

What risk to reward do you use college trader?
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I used a failed system, it had a 95% positive expectancy, but 0.33-to-1 reward to risk. Needless to say the system failed eventually after a few consecutive losers, and high leverage. Funny considering the backtesting didn't show more than 2 consecutive losers. But hey i was trading the system in sept/oct 2008.
 
Quote from joe4422:

The short trade was discussed in the newsletter the day before, and was discussed again before market open. I think he even did a video on it, so everyone should have gotten that one. The ES trading room he spent about a total of 3 minutes in. He just said sell, and then later set targets, stop and shut the room. He's made it clear to us that he's not taking questions or talking to us, he's just calling his trade as he takes it and we're following along.

Also, I don't think you should assume there's anything crazy or risky about trading 8 contracts. If you have a succesful consistent system, why not leverage it? Do you really think professional traders trade in lots of 1 or 2? I've been with the guy for about 5 months now, and I don't think he's as bad as your assuming.

A 3 point stop with 8 contracts is a 1,200 loss and he said the normal target is also 3 points, so it's a 1 to 1 risk to reward. Even a coin flip should avoid losing money.

But like I said, I'll let you know, good news or bad news.
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The fact remains that he is not in the regular room as much to give his comments before the high price room opened.

This morning again, he was late in mentioning his hot potato trade in the regular room. His voice was more perfunctory than he was last week. His mind and attention is not longer in this room. No matter what is said.

Many newsletters give the similar levels. That doesn't excuse his not being in the room at a crucial time.

A friend who has been in the room for some time thinks you Joe4422 may be Norrin. I am not saying you are. One never knows in this board.

Perhaps to be fair to the members in the regular room, it would be a good idea for Norrin to be there for the last hour to make up for his not calling trades for the regular members in a timely fashion in the first hour.
 
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