The problem with JPJ and his trading room is as follows: 1) Breeds thieves and snake oil salesmen. In the last year, 2 people from this room who were supposedly "great" traders were arrested for cheating their clients out of millions. One of them was Stephen Clifford and the other was some gal named Liz from Rhode Island. It's on the web somewhere. Then there are bunch of people who post their trades, similiar to those swindlers mentioned above but no one has verified their performance. Go figure, you think he would have learned his lesson. 2) The guy lacks computer skills. 3) worst internet connection known to man. If it is not his internet connection, it is his platform or charts. 4) The guy is never around anymore. On vacation or just completely awol. He likes to go to the casino alot, without warning, he just won't show up for days. 5) The guy has a large account and trades huge lot size. So he is not inclined to trade much after a killing. I don't blame him but the room is full of people with small accounts. Why let these people into the room in the first place? 6) The guy charges $1200 for lifetime membership. 7) The guy charges $1200 for lifetime membership so what need does he have to trade? he might get 50 - 100 new member a yr so again, what is his incentive to trade? 8) The room is full of noise. Everyone just posts anything and everything. 99% of the people in their suck but yet they feel the need to post their thoughts about market conditions or their own techniques. It's like, if they suck, why not shut up and listen to those who know a little more than you? At any time during the day it's like, " Trendline forming on 3 min bars", Fib retracement, or Bear flag, or gee, this action is weird, wow, that fib extension worked to damn wih i would have traded it ...etc. Just bs, all of it. JPJ is a good trader with good intentions and a good heart. There is no doubt to that but he is not very responsible about the room. His method cannot be traded mechanically. There is no way. He does everything on the fly. Unless you trade next to the guys for months, there is just no way you can learn anything useful about his method except the rules, which if traded mechanically will send you to the poor house , fast! Having said that. No chat room will teach the holy grail. That must come from within. This will never change no matter what charts you use, or 3rd party plugins, or indicators. S.W
SW, You are correct in most of what you say about JP. I heard about CFA, but I didn't know liz also turned out to be a scam artist. Anyway, I don't go to the room anymore...so it doesn't really matter. My advice to anyone....Read Mind over Markets and develop your own plan...keep the 1200 in your pocket. On another note, I was contacted by Secrets of Traders (Larry Levin) a little while back. Apparently, they wanted to contact older members that they felt were screwed in the past. Said a lot of guys had blown out accounts so they were going to present me with something so they could regain their credibility with me. Personally, I dropped the trades and the room after a couple of months before I blew out my account. At that point I was down 4k for the course and 8k trading their methods (1 contract at a time)....took it like a man and walked away with a sore butt...but never complained to them one bit...just left and started working on my own plan. Anyway, this guy calls and says he wants to dazzle me with a "New Plan". I said fine, lets see what you've got. In my head, I was thinking that they would let me sit in on room or something for a short period to see how they were doing currently....man was I wrong. When I talked to this guy he wanted to "offer" the room at 1k/month...but might be able to cut the rate if I did three months......hmm....so... I bought something from these guys that completely failed (which they readily admitted, but basically said tough sh!t...sucks for you). I proceeded to present my case and ask questions....I got cussed at and told I was stupid for not sending them money and starting right away. I was told multiple times that Larry Levin was brilliant because he was on TV...If your so smart...why aren't you on TV?....then you need to take this brilliant offer.....blah blah blah. So, in a nutshell....I purchased a basically worthless product...took it up the butt....got a call later on that said tough sh!t...your stupid and you need to buy this other course/room cuz Larry is awesome and on TV and we have tons of references from happy people. I said I would like to sit in the room for a month for free...If I like it...then I will send you money. He said bullsh!t...then you have no skin in the game...you're lazy and want something for nothing....I can't take you at your word.....hmmm.....The call ended shortly thereafter. I hope at least one of you found this amusing...I sure did. I don't know about you all but I am liquidating everything I can so I can send it all to Larry cuz he is on TV!...and he must be legit!....and I am just a stupid POS. I hope this gives insight to anyone looking into SOT.
Hi NewBeTrader123, I've fluctuated, contemplated, did everything for a week to decide whether I should commit to this Levin Deal, which they initially offered 6k for then had dropped the price down to 5k with monthly installments. The fact that I was in this kind of a discussion with them revealed to me that most likely they were trying to sell me anything with no value. I was discouraged because I really wanted to believe that there was an honest source of info that was of as much value as the amount of time that anyone was willing to put into learning it. So, I read your post, and I'm glad I did. It convinced me to drop them and to continue my own research and practice. Thanks and Regards.
+1. I had same experience too.The sales folks there call you up and are extremely eager to show their product but don't keep up with appointments. A while back I had signed up for his newsletter(now no longer subscribed) and on same day got a call saying you need to have a proper guidance and Larry will help you do that plus we need to show you our chat room. I was busy and tried to schedule for next month (it was last week of current month) but the sales guy was adamant in doing it by end of this month only,so anyway I schedule within the same month and guess what - he never called back! Must have filled his sales quota or something,it was surprising for me though. Just my 2 cents. Chris.
OVER 99% of these services do not work. A newbie or potential customer should not have to "trust" anyone they don't know. If the service does not provide: VERIFIABLE BROKER STATEMENTS OF AT LEAST 12 MONTHS, or an INDEPENDENTLY AUDITED RESULTS WITH GOOD STATISTICS, AND A SEVERAL WEEK FREE TRIAL TO COMPARE AGAINST THE SITE'S TRACK RECORD then be assured, they do not work. I wouldn't send $50 to someone without this, let alone $5,000
thanks for the information, I'm eduacating myself but eventually I'll need some kind of formal training, so far I have been reading books and doing a lot of TA, but I still need to control the sicologycal factors of trading