Best live trading room on the net?

Discussion in 'Educational Resources' started by TradingDollars, Dec 5, 2014.

  1. Too funny, Ed Abreu was exposed for posting 100% fake and doctored daily trade logs. After that, he effectively shut down his business.
     
    #51     Jul 26, 2015
  2. usrx201

    usrx201


    https://www.bigmiketrading.com/beginners-introductions/20120-take-inexpensive-route.html

    It's the same guy. He had updated this thread in the BMT beginner's page 1 for years before he finally got called out. Lots of "well written" articles in posts and email newsletters. The email and BMT pic is usually a puma or dog.
     
    #52     Aug 12, 2015
  3. rwbil

    rwbil

    Every Trading room I have been in has been smoke and mirrors. I found this thread by searching for LiveTraders.net and after being in their trading room; it is also seeming a bit smoke and mirrors so far. They do not show their live trades on the charts or the DOM. They post their trades. The results they show are not real. I have traded their picks and had large slippage, yet the results they post show no slippage. Also occasional they will show one of their trades and the shares shown do not match to their posted results. The posted results always show 1000 risk per trade whether that was taken or not by the trader. And worst of all they will all of a sudden post they are out at a certain price and by the time it was posted the price already pulled back. In fact sometimes they somehow got out at the exact high tick of the previous bar. Yet no mention that they were going to take profit there until after the fact.
    No one attempting to follow them could get those results and so far I have seen no evidence they are even trading profitable. Sadly so many people just go on blind faith with no proof being shown. They constantly are pushing their PTS course. I say if Amnol, Jerew, and Jay are legit then show your trades on the chart and show the real results, not some hyphothetical results that mean nothing. It is easy for 1 R profitable trade to really be a 1/2 R profit and for a 1R losss to be 1.5 R loss. As someone else pointed out, it really does not take much changing to make a losing trader look like a genius.

    Bottom line - I have no idea if any of the trader's at livetrader.net can trade profitable. If they really want to show they are profitable then show their results during live trading, not some hypothetical results that no one achieved.
     
    #53     Aug 27, 2015
    artes33 and Eddiemorra like this.
  4. Ive been in there room for a long time. Seems to me you failed to understand everything or are totally new. When they started the room they asked us members how we would like them to track the trades. Then used the method we members told them to use

    Spreadsheet is based on hypothetical 1k risk since all moderators trade different share sizes. Some more than others. So its hard to track the R unit in a spreadsheet that way.

    So the way its tracked is example ABC Long at 10.00, Stop at 9.90. Target taken at 10:30...That would mean 0.30c target on 0.10c Stop loss. aka 3:1 reward to risk or 3R..Spreadsheet tracks them based on them taking 1k risk for all trades. This makes tracking consistent

    But they do show their own results every single day, so not sure where you got that from, They even show their own positions and even the DOM at the open., so not sure where you are getting that from.

    Did you ever ask them to show their results? simply ask and im sure they will show it to you. They show it pretty much everyday. But if 1-2 days they didn't ,, perhaps nobody asked them. Plus if you're intention in the room is to blindy follow them and expect to make money, you are in the Wrong business my friend. Goal is to learn and to this yourself and not follow anyone like sheep.

    Also how do you expect not to get slippage, that is real trading and part of the game. You cannot realistically expect to get filled on a breakout right at the breakout spot. Seems like you are new to trading. There are only a limited number of shares at each price. Unless you are trading SPY QQQ or BAC there will be slippage in each trade. Today for example one of their traders called a trade and got filled like 6 cent late and he showed that too.

    Reason why i post such a long post is because ive tried ALL chatrooms and they are the best i found. More importantly ive learnt way more in there than anywhere else. Don't be a sheep following all their trades, thats not the goal. Plus with 70-80 traders in the room trying to get similar patterns and trades, slippage Will happen.

    there are 80 traders in the room. each trader gets different slippage. Some 2 cent, some 5 cent , some more ..some dont get slippage. So there is no real method to track on spreadsheet what the correct slippage was. So the call post is tracked for you learn from and see the results. Even if you got 50% of their results you are doing well.

    Also you cant expect them to post their exits in the same time. Think of it this way, they take a breakout and exit as stock spikes up quick. How can you expect them to trade their own account, exit their shares, adjust their stop and then also post it in the room ...If they got the post out on time. I would infact be skeptical if they are even trading or not. Breakouts move quick. thats how they work.

    My advice to you would be to either learn to do this yourself. At least exit on your own lol or use their exits as a guide. Or Go find another trading chatroom that you will more comfortable with.
     
    #54     Aug 28, 2015
  5. rwbil

    rwbil

    Really, BlazeTrader!,

    First I am not new to trading, but I have seen so many smoke and mirror con artist trading rooms and many people who just have blind faith in following them. A perfect example is the Jacquar club where the member finally reported him on Big Mike trading.

    https://www.bigmiketrading.com/vend...-trading-club-protradered-blogspot-com-2.html

    And even though it was obvious he could not trade profitable and it was a scam there were still member defending him. And the members even showed how easy it is to fake the platform results.

    The point was not that slippage does not happen, but they do not show that in their hypothetical results sheet. That is just dishonest to me.

    Every intelligent trader that I have met that is looking for a trading room is trying to find one where the trader keeps his DOM up and the trader shows his real entries, exits and shares purchased in order to evaluate if the trader is a legit profitable real not sim trader. I have not meet anyone that has told me, “You know instead of seeing his real trades, I want to see a hypothetical spreadsheet with entries and exits no one got and shares that no one traded” Purchasing that amount of shares in a low volume stock would create tremendous slippage.

    Contrary to your statement they rarely show their DOM and it is not to show trades. As far as showng their trades, they very selectively pick what they decide to show. Maybe they are real traders. You say he is too busy typing in this trades to post in real time. I have a solution and it is not rocket science, SHOW YOUR DOM!!!!! Yes, keep your DOM up every second of the day so we can see the trades you take and see your P/L throughout the day. These trading rooms have every excuse in the world why they do not show their DOM. But there is only one real reason. They do not want you to see their trades. Guess why!

    What I see is traders with 10 to 20 cent stop loss on stocks with that can have a 10 cent bid and ask spread. I see trades being taken with Hugh slippage that is not reported. And I see exits being called after the fact at the highest tick. Maybe they are the luckiest traders in the world. I do not know. But it happens again and again. And as I said previously it does not take much manipulation to turn a losing trader into a genius trader.

    I saw a trade where they were in a long position then post to exit after the bar solidly turns red. Between the slippage you would have gotten on the entry and if you exited when he posted you would ended up with a loss on the trade, which they show as a big winner. Yet somehow he miraculously knew to get out at the high tick and get a fill there. Amazing! Maybe he did, no one knows. But I am guessing he saw the down bar and just posted he exited at the high tick. I do not think he even took the trade. And no he did not show the trade on his DOM as you state they do. But again there is a simple solution:

    SHOW YOUR DOM THROUGHOUT THE DAY!!!!!!

    To me the difference in reporting real results .vs hypothetical result is obvious.

    If they are such great profitable traders, why do 90% of the people in the room seem to be new. Why so few long term subscribers. I would think a truly profitable room making money for their members would be filled with so many members they would have to close the room to new members.

    Finally, If they are truly honest profitable traders then I suggest you show you DOM throughout the day and post your real results in addition to the hypothetical results.

    PSS, BlazeTrader I am more than happy to skype with you to discuss this room.
     
    #55     Aug 30, 2015
    artes33 likes this.
  6. I was in the room for a 2nd time and I agree with rwbil. It is nearly IMPOSSIBLE to get the prices they announce and share size without slippage. There are also new people, and not many old timers in there. I messaged many people in the chat and they say they are not profitable.

    Also, they have stepped up their marketing campaigns big time lately!

    I would put a good amount of money on the line that blaze is affiliated with them in some way, shape, or form!

    Anmol "seems" like a great trader but you have to keep asking yourself, if this guy is so good, why in the world does he bother trying to collect peanuts from people when he can make unlimited money from the comforts of home? Maybe he is SO GOOD he can? I don't know! Anyways, I decided not for me and I wish them the best.
     
    #56     Aug 31, 2015
  7. Well i am not affiliated with them, But do love the room. I guess the room is not for you. You can continue your search for the holy grail. After trying 50 trading room out there, There is no holy grail. But these were the best group i found. You can continue your search for the perfect room. I would rather focus on my trading. Because my intention is not to follow them blindly like sheep rather learn from their experience and trade on my own and use the room as idea generation tool
     
    #57     Aug 31, 2015
  8. rwbil

    rwbil

    BlazeTrader, you keep making these insulting type of comments that are 99% fact free. Nobody said they are looking for the holly grail here. I said I am looking for a trader that is honest and profitable. Maybe that is the holly grail, because finding such a trader is nearly impossible. A trading room that does not keep their DOM up and shows hypothetical results and constantly pushes their education course is very suspicious to me. I provided my assessment of this trading room. Best wishes on your trading
     
    #58     Aug 31, 2015
  9. Good luck to you too..i must have misunderstood you...I do agree showing results is super important..What i meant to say is that *Compared* to other trading rooms, i liked them the best..that's all
     
    #59     Aug 31, 2015
  10. Sattam

    Sattam

    Big Mike Trading is the worst ever website!! Do not trust them!! I got banned because i said i found a good room for trading.... BMT reason was "lying scum, vendor self-promotion" SERIOUSLY LOL!! i participated in a lot of rooms and paid over $15k! the only room decent was GTR. I am always looking for rooms to help/teach me trade. You guys have any other rooms good enough. I want rooms that call out the traders!!
     
    #60     Sep 6, 2015