This confirms what I've seen 0f JC's performance ... these rooms are the land of eternal fraud ... but hope springs eternal.
The regular room is now neglected. There was an obvious short trade right after market open. Norrin was too busy with the $500 room and forgot his regular room. You trade 8 contracts, $800 is only 2 points. You are taking big risk (unless u have big account) to trade so many contracts all at once. Risk is all yours. Folks in the regular room might had taken 1 or 2 contracts and got their $100 or $200 today. As it happened, Norrin's mic was not working for the regular room for the best trade. How convenient! The regular room got nothing today. I wish you luck. I am not sure his regular room is still worth the trouble. I hope I am wrong but am not optimistic. One mentor, multiple rooms at the same time. Total conflict of interest.
The short trade was discussed in the newsletter the day before, and was discussed again before market open. I think he even did a video on it, so everyone should have gotten that one. The ES trading room he spent about a total of 3 minutes in. He just said sell, and then later set targets, stop and shut the room. He's made it clear to us that he's not taking questions or talking to us, he's just calling his trade as he takes it and we're following along. Also, I don't think you should assume there's anything crazy or risky about trading 8 contracts. If you have a succesful consistent system, why not leverage it? Do you really think professional traders trade in lots of 1 or 2? I've been with the guy for about 5 months now, and I don't think he's as bad as your assuming. A 3 point stop with 8 contracts is a 1,200 loss and he said the normal target is also 3 points, so it's a 1 to 1 risk to reward. Even a coin flip should avoid losing money. But like I said, I'll let you know, good news or bad news.
Making 800 with 2 contracts, u are doing great. Making 800 with 8 contracts, it is so so. It is poor risk management to do 8 contracts in a single trade for a 10k account. U can make a killing or lose your shirt. Good luck.
He's already beginning to make the targets smaller..?? A 2 points target with 3 point stop is a 0.66 to 1 reward to risk. not 1 to 1 as you mention. And trading such a risk reward with 8 contracts and $10k is suicide. Been there done that. :eek:
+1 for this post Big Money As bad as it sounds, before you go into trading, you should have a plan C. For when you fail everything. It should not have anything to do with trading. And you should not try to avoid it if both plan A and plan B don't work out. Jreality's trade plan A was executing somebody else trade plan. Now he's trying to execute his plan B creating his own trade plan. But if this fails he has to do sómething. From what i read the last 6 months he did nothing productive at all. He just got scammed for 6 months into doing nothing, trading a so-so failed trading method. And he paid dearly for it, in time ánd money
I used a failed system, it had a 95% positive expectancy, but 0.33-to-1 reward to risk. Needless to say the system failed eventually after a few consecutive losers, and high leverage. Funny considering the backtesting didn't show more than 2 consecutive losers. But hey i was trading the system in sept/oct 2008.
The fact remains that he is not in the regular room as much to give his comments before the high price room opened. This morning again, he was late in mentioning his hot potato trade in the regular room. His voice was more perfunctory than he was last week. His mind and attention is not longer in this room. No matter what is said. Many newsletters give the similar levels. That doesn't excuse his not being in the room at a crucial time. A friend who has been in the room for some time thinks you Joe4422 may be Norrin. I am not saying you are. One never knows in this board. Perhaps to be fair to the members in the regular room, it would be a good idea for Norrin to be there for the last hour to make up for his not calling trades for the regular members in a timely fashion in the first hour.