Been trading for a some time and have been around the block with the educators and some chat rooms. Anyone out there who trades the sp mini and uses a chat room/ advisor, or recommends where to improve ones trading strategy....have any recommendations. I'm looking for something that shows consistency.
Hello: I like Linda Raschke's chatroom. She is a professional, with a lot of experience. Problem is most people asking this question don't really want to learn anything. They simply want to piggyback the trades. If thats your preference, you should probably look at one of the flashier promoters. Check out the Trader's International thread a while back on this site. People were claiming that that moderator was making millions every few days. Apparently he was doing this in between his shifts selling furniture and carpets from his store in Maryland. Good luck, Steve
I agree. LBR is the real deal. She trades everything from Crude, to Individual Stocks to Gold, but day trading the S&P's are her favorite. Also, they go into classes when the market is slow. I got the most from that. There is a lot of experience there and they really want to share it...even with old dogs!
I'll second that. I spent a lot of time studying her method and trading along. It made me stable but then a choppy period happened and I switched to another method. I therefore lost double. HA - that was my wake-up call. I defined my trading plan (based on LBR) and don't deviate from it - may hell freeze over - and I have been profitable ever since.
I'd like to say something about it. They use a proprietary indicator. I wonder if anyone will get this? No trading program that uses proprietary technology will help you unless they disclose it to you. Even then, you have to take it on faith that the technology will work into the future and that the edge is a valid one, and not just historical (seasonal) tendency. The beginners course is $2700 and it does come with a money back guarantee. I have not taken it and I have no affiliation with the company, I am just reading the website. Frankly a skilled person could structure a good trading course from publicly available materials for less than half that price ( in my opinion). Why? because a beginers course would not require much more than fundamental info. $2,700 is way too high. I would rather go along the road myself. Steve
I agree Steve that it is possible to come up with a strategy from publicly available info which will trade consistently - but it sure took its sweet time with me (like several years). I bounced around several methods which often had good entry triggers and maybe even good exits. But that still didn't help until I figured out the feel of it, which comes from trust, which comes from experience. Bouncing back and forth between strategies with varying win loss ratios and expectancies was quite the tuition money as I was bailed at the drawdown or cut the winners short considering the underlying strategy. Look at Woodies CCI. Every moderator has a different way of managing the trade - very confusing. Maybe I was a little stiff, but I needed handholding in one particular way, see it work, - and then finally understood what it should feel like. For me that was the hardest part in becoming consistent.
I like their free video newsletters. Thinking of joining their trading room after I get my futures account set up. Currently day trading Nasdaq stocks but would like to focus more on sp/ym futures this year.