Which real live future trading room I should choose?

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Quote from FB123:


You have to find something that fits you, and if you have a mentor you may not find that very easily. What if someone is a really great trader and teacher, but his or her style just doesn't fit you?

In the end, your charts and visual setup are the lens that gives you a view of market information that is fundamentally non-visual. Price movement itself is not a visual phenomenon... it just exists out there in the non-physical realm. Your chosen charts, time frame, indicators, EVERYTHING has to therefore be personally tailored to you, and make sense to YOU as a visual way of representing this data.

It is often easier to find something suitable when you are just figuring things out on your own with complete freedom, instead of being constrained by trying to learn someone else's system.
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Interesting philosophy FB.. that price action is dependent on what one person sees himself and that it's not a mechanical fact, that is the same for everybody...when looking back at what somebody posted.. if more people know about your strategy it will work better. based on your philosophy it wouldn't matter. It's based on what a person does.

The debate of whether you should tell people about your strategy or not, seems to be meaningless. Did buy-and-hold propogation made warren buffet a billionaire.. or did it not matter at all?

Quote from oraclewizard77:

Tried the Trade Pilot Pro free trial on trade pilot pro. They usually tell you if they are in a trade AFTER the fact not BEFORE. They don't lie about this, they will tell right out that they don't call out trades.

They have some good education that may help you learn some tricks if you stay there during the trial, but I see no reason to stay longer or at the most pay for a month after the trial to learn more. I am sure that they are good traders, but when they asked if you took a trade they took, it was only me and one other person who said yes since we know how to trade already.

On puretick, took the trial just to see what all the fuss was about. The positive is the room is actually very professional. Trades are called out before they happen letting you get in the trade. Teaching does occur. Only negative is risk vs reward. Risk 20 to 25 to make 5 to 7 for newbies on 1st contract. For pros, he does mention trailing stop or going for more profit on 2nd contract. They were stopped out on a trade a week or so ago, and lost some subscribers due to that issue but there are many in the room.

Both rooms, I do think the head traders make money from trading more so in the trade pilot pro room where they will risk 2 points or less for 2 to 4 points of profit which is more of the style of trading that I am working on for my own trades and don't need to stay in their room to learn more. My volume indicator is better than their indicator. I think trying some room trials is good to see if you can learn something new to help with your own trading but your goal should be to trade on your own.
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if a trading room has more risk than reward it is using quite some discretion most probably in their decisions. They would need a 90%+ win rate.. everybody make their own decisions but I don't think it's worth it.

anybody who thinks of joining a room, ask themselves is it worth it? a room by definition is a subscription. but what are you subscripted too??

Why subscribe to an education type room? Education can be learned in one go, and you don't "learn more everyday" the market conditions change everyday, but if after a month you still don't know the gist of the strategy aren't you being kept in the dark on purpose?

Why subscribe to a live trading room? You can see somebody trade, but how do you know his strategy is good in the long run. From this thread we clearly saw the strategy from Jrality's room clearly didn't work in the long run. Everything else was good though. Nice guy, live trading, "cheap". Jus tnot a winning strategy.

The conclusion and question is do rooms even provide a service?

A good strategy that can be scaled up, why would somebody teach it somebody else? Either a: it's not a good, winning strategy. b. the guru hasn't tested it out itself whether it can be scaled up. By selling the strategy he can make money without risk. c. the guru doesn't know whether the strategy wil work in the future and sells the system to be sure of income for it.

The only system that works in the future, can be scaled-up, and makes money, comes from yourself.

:)
 
Quote from leela:

Here is an expert (Dr Brett Steenburger) view on selecting trading eduction or rooms:

http://traderfeed.blogspot.com/2009/10/considerations-in-selecting-educational.html

In a nutshell, you have find a method that matches you.
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It is easier to rule out a method. For example:

1) seems to rely on lots of probably faked testimonials

2) gives trading "examples" rather than a track record

3) refuses a significant free trial, so you can verify the trades you receive match the track record

4) Refuses to offer either verifiable broker statements or independent full auditing of trades (such as via collective2, timertrac, futurestruth, or strategyrunner)

5) Is evasive/does not post their system stats (sharpe/sortino, profit factor, drawdown analysis, etc.)

Assume that > 99% of them do not work. If there is any sense of "trust me", ask yourself whether you would hand a check for $798 to a stranger, and then don't it to this anonymous website.
 
Quote from xednise:

Posted 8-24-09. None of the above or any that would be on the list. What you're looking for isn't available for public consumption, only private.
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Hard to believe that nearly 2 months later this is still being debated, but after all it is ET, gets funnier by the day.
 
The system has made a loss of 42 points. Awesome. Atleast the site is honest. Is this like a kaching start up, but for the ES instead of stocks. Not a bad idea. I guess this is something in the building, since the performance is so poor .
 
Hi Guys,

Have tried millenium traders, lbr and alot of other chat rooms and lost money.

I have found a couple that are interesting :

1) - Larry Levin, www.secretsoftraders.com - it's expensive to get in and you have very cheesy salesmen hitting you. If you do try them, they are pretty good.

2) - futurescomsignals.com - these guys give you live trades by email/messenger and all trades are chalked up historically on their website. There is a free trial, which means it costs you nothing.

I actually told them I wasn't very happy and asked them to extend my trial for 4 weeks after the initial 2 week period !

Have made money from them though, which is more than I can say for the others before.

Hope this helps.
 
Quote from claudeais:

Hi Guys,

Have tried millenium traders, lbr and alot of other chat rooms and lost money.

I have found a couple that are interesting :

1) - Larry Levin, www.secretsoftraders.com - it's expensive to get in and you have very cheesy salesmen hitting you. If you do try them, they are pretty good.

2) - futurescomsignals.com - these guys give you live trades by email/messenger and all trades are chalked up historically on their website. There is a free trial, which means it costs you nothing.

I actually told them I wasn't very happy and asked them to extend my trial for 4 weeks after the initial 2 week period !

Have made money from them though, which is more than I can say for the others before.

Hope this helps.
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Larry Levin has an interesting nightly newletter with opinions about the economy that I enjoy reading. I purchased his expensive Secrets of Traders course, but was unimpressed when I received it and sent it back for a refund. It had some information of value, but not enough to justify the cost. He also posts his trading room results online. I have not checked for a while, but when I was checking daily, he had some winning days and some losing days, but nothing spectacular.
 
how's about going over to www.paltalk.com


and starting a room....


and maintaining a room


including bouncing people you don't like


and commenting on charts and trading patterns in the popular indicies..., futures, forex and such...

then, this thread will have completed its objective...

in being the best real time futures trading room to join in on...
 
Quote from claudeais:

Hi Guys,

Have tried millenium traders, lbr and alot of other chat rooms and lost money.

I have found a couple that are interesting :

1) - Larry Levin, www.secretsoftraders.com - it's expensive to get in and you have very cheesy salesmen hitting you. If you do try them, they are pretty good.

2) - futurescomsignals.com - these guys give you live trades by email/messenger and all trades are chalked up historically on their website. There is a free trial, which means it costs you nothing.

I actually told them I wasn't very happy and asked them to extend my trial for 4 weeks after the initial 2 week period !

Have made money from them though, which is more than I can say for the others before.

Hope this helps.
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Thank you, 2-post shill...
 
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