Which real live future trading room I should choose?
- Thread starter Affecto
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I don't like the fact that he's showing off a trade on the Simulator and specifically stating that it's a LIVE trade. Of course newbies or traders not familiar with the AT platform won't be able to tell that he's on SIM.
Regarding Fibs, I think there's some merit to 50-62% retracements off larger swings, but there are so many damn Fib levels along the way that one of them is bound to be hit. Gurus who pitch Fib levels can never be wrong...price WILL hit some level
$TICK divergences in conjunction with S/R levels can offer good areas for trade placement.
Hey Joe, I don't think Leela is being too negative about the rooms. After all, I do believe the general feeling at ET is very negative about rooms in general!! I think the purpose of this thread was to find a reputable room, if indeed there are any!? FB123 explained it well, were running a room, don't make any financial sense, if you are a outstanding trader! And you have to admit ANY business that raises their premium offering by more than 200% with a whole 1 weeks notice is going to raise questions, no? Leela, may have a stronger opinion than most. But I think that puretick shot was a little much! We'll either way, we now know we have at least 1 vote that there is a decent room out there. Even if it did get real expensive, real quick!
I think the KEY is getting into a room that actually TEACHES you how to trade. Problem is, most people are lazy and want to join a room where trades are called out in real-time. They don't want to put in the work; just reap the rewards. As a bonus, when they get stopped out (if they even have a stop), they can come here on ET and bitch and moan about the room operator.
Most rooms have some sort of trial period, so why not just try some of them out and make your own decision. I've mentioned it before and will say it again, Joe Baker and David Dube from Trade Pilot Pro run a solid trading room focused on EDUCATION. They don't just call out trades; they explain every trade in great detail. Unfortunately, most people/newbies on ET are not looking to LEARN...just profit. Good luck with that...
Most rooms have some sort of trial period, so why not just try some of them out and make your own decision. I've mentioned it before and will say it again, Joe Baker and David Dube from Trade Pilot Pro run a solid trading room focused on EDUCATION. They don't just call out trades; they explain every trade in great detail. Unfortunately, most people/newbies on ET are not looking to LEARN...just profit. Good luck with that...
I spent many months in a room that didn't show any live trades. I believed once I learn the method, I have the basics to trade profitably.
It took too long for me to realize that the method only works some of the time. What was never mentioned was that you need to use your sense of market CONTEXT with the trades.
After many private discussions with fellow students to figure out where we failed, I realized that one will end up a net loser by following the rules mechanically. I sim tested diligently.
It was an inexpensive room. I did learn somethings so I don't consider it a scam. However I am now very skeptical of any room that cannot show live trades. I need to see how well the method works in real time.
It is bogus that an "educator" claims he is teaching you to fish when he is unable/unwilling to show how he/she is catching the fish real time. I need to see some fish in the educator's net!
Show a real time live DOM with your fish! That is proof that your method works more often than it fails. This is how a real trader distinguish himself/herself form the charlatan "educator".
Rooms that don't show live trades have limited purpose, many are scams. A very few may be useful for a newbie for a couple of months - so long the newbie is aware of the limitations of the room.
I haven't personally tried Robert Hoffman's room, but I believe he shows a Live DOM. http://www.powercharting.com
And $295 isn't too expensive in the grand scheme of things.
Fast Trader, I totally agree with you! Problem is, how does one know the education works? Show me!! Don't just say 'trust me'! Who are they that I should trust them? I took the trade pilot pro trial, they seemed knowledgeable! But they were more concerned with selling me their custom indicators, then teaching me how to trade! Anybody that has any sense knows there is no 'magic bullet indicator'!! So to me anyway, that says they are looking for suckers! that is my opinion anyway!
By the way, anyone that says there is a magic indicator or pure automated system is full of it!! My friends went to Northwestern & Univ. of Chicago. Every semester the brokerages came in offering, the best engineers & math majors 8 figures to come up with a profitable 'system' as of 3 years ago nobody could!! So unless you are the next einstein, I wouldn't waste my time. And sure as hell, you better not try to sell such a system to me!!
By the way, anyone that says there is a magic indicator or pure automated system is full of it!! My friends went to Northwestern & Univ. of Chicago. Every semester the brokerages came in offering, the best engineers & math majors 8 figures to come up with a profitable 'system' as of 3 years ago nobody could!! So unless you are the next einstein, I wouldn't waste my time. And sure as hell, you better not try to sell such a system to me!!
I'm assuming you tried it a while back? Was David Dube heading the room when you tried it? Trade Pilot Pro does offer indicators, but since David joined the team, the primary tool has been price action, symmetry, S/R and the indicators come last.
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