I read most of this thread and found it interesting. The guru you guys are talking about started placing videos on you tube a few months before the crash. He'd focus on basic TA and pivots, and the uninitiated were really wowed by his after the fact analysis. I think he built his following off of Utube. I smelled a promoter a mile away, and of course it wasn't long before he alluded to wanting to help the world w/ their trading. He also started to plug his soon to be released web site and dvds. I lost track of him until I picked up this thread. A lot of these promoters know TA and the backdrop of the market really well. No doubt about that. But that's about it and unfortunately that ain't enough. Everything is so black and white and mechanical from their rose colored glasses. Very mechanical stops, targets, set ups etc... the same old same old. I'm sure they started out trading the markets and expected to make a killing. They probably blew out several accounts along the way. This SP guru (I assume) is essentially doing the same thing as the rest of em in the live trading room. These promoters sell their set ups and analysis as being enough to become a winner. That's where they are mistaken. Or where their customers are mistaken. They do not have a market edge. Nada! There are so few edges out there for a retail trader. From the gist of this thread, the young trader having problems doesn't have one either. I wonder if he even thought about this issue before thinking he was going to make a living trading - which is a real crap shoot most of the time as he is finding out.
I was a member in August and Sept, and I just wasn't happy with the style of trading done in the room, and didn't make a profit from taking the trades in the room (and I suspect most others in the room likely did not either). There was always the promise of better trades in the future, but that never happened. Even though he seemed like a nice guy that was concerned about helping his students, his room was expensive and ultimately I couldn't justify continuing to pay the monthly fee. I mainly didn't want to mention the name because I was still a member of the room at the time, but anyone reading this thread could easily find out which room I've been talking about.
They all appear nice and wanting to help. It is $$$ that they are after. If they really want to help, tehy won't be misleading you and all the students into thinking his method works. Many methods work *some* of the time. It is not enough to give you an edge w/o your own sense of *context* and intuition from watch teh market over time. I wasted too much time in rooms - though I never spent much money in any. I learned somethings, but also picked some really habits that I have to unlearn. Never spend too much time or money in a room where the mentor can't show you his/her trades. You need to know how often the method works. Also a "mentor" who calls trades after it moves in his favor is simply playing mind games. This was a practice of the ATW room. I stopped wasting my time there. I worked very hard. I will never have my time back.
I'm not schill, but this conversation just started a long time ago and I got a lot of questions. I'm just a big fan and I disagree that the room is going down. I thought both trades were called out clearly. He said I'm shorting the ES pretty loud and clear to me, and it move for about 5 points or so, and then about 20 minutes before we took out the highs he clearly said if we take out the highs I'll go long. Maybe we're not in the same rooms? The newsletter the other day didn't generally talk about a support area, it said that if we break .... I will short and sell half at 1 a point or something and set my stop a point past entry. Very clear order, and it was discussed probably ten times before market open. In the free newsletter he bought HPQ at the open and set a target around 48. Easy trade. I'm in both rooms, and he never spends more than 5 minutes or so in the ES tag along room. Anyway, I don't want to sound like schill and I don't know who JC is. Oh, John Carter. Is that the room that was talked about before? Yeah, it is shit, I've been in that one too, and I'll let you know, it's shit. If you've every followed his newsletter you've also lost money. He just started tradethenews with the webinar as well, so look either way it's a good deal. tradethenews cost more than the subscription would. The gotomeeting rooms allow chatting, we can do it in the tag along ES, but gotowebinar doesn't. He's talked about his alot, because he's spent alot of time trying different chat options. We had a seperate chat room before, but everyone found it difficult to use two windows. There is the shoutbox on the front page as well. I guess I do sound like a schill, but listen, I've been with the guy a long time. I've done a mentoring, I've been in his room, both rooms, and folllowed his newsletter now for like 5 months, and he's been an enourmous help to me and my trading. I've tried a lot of other crap out there, and just wanted to give a quick recommend because that's what this thread started out asking. You'll just have to be your own judge. But if I'm going to be accused of being a schill, then let's talk about something else, but stay on the topic of the thread. Is there not one trading room someone can agree on as a great place? How about the fibonacci woman? That was the worst one I've been too. She's got it mastered. She just puts up support/ resistance lines and then you have to use your own trigger. If they work they work and she got your so many points, if they don't work then they don't work and that was because of your trigger. Last word I'll say about sandp500analyst.com and then I'll never mention it again, because I don't want to known as a schill, is that I have made money with his service, and I recommend it. End of story. Peace out. Ask him for a free trial if you want to try it, or just don't. If I sound like him it's probably because I did a mentorship with him and he rubs off on you.
You were in the high price room! A different room. Norrin might had called some good trades in the $500/month room. He didn't made the call in the regular room.
Anyone familiar with http://www.EminiJunkie.com ? Claiming Live trade in this video when the AT platform is clearly in SIMULATION mode: http://www.youtube.com/watch?v=Oq0S2-H7qvw
No, I'm in both rooms. The calls I'm talking about were in the normal room. The ES room has nothing but a quick call and is never open more than an hour. I always log into both rooms.
Good try! Joe. here is what one subscriber wrote: "The only short possible this morning to give 5 pts was to enter at 9:35et & hold to 10:25et . I remember he (norrin)was not in our room then the new room is what joe heard." You signed into both rooms. You really keep tracked of what was said in each room? You probably mixed up what was in each room - if you are not indeed Norrin or his wife or helper.
Well, I don't want to argue about it, I'm not here to try and convince anyone to join. We only take 1 trade a day in the ES tag along so I don't think I mixed the trades up. But for sure you heard the long 10 minute conversation about going long if we break new highs? I'm just not sure how you can turn a sell the ES almost first thing in the morning, which ran for profit, and then a buy the ES on a break of new highs, which ran for profit, and a buy HPQ at the open and hold for the 48 dollar area to take profit as something bad. I'm just confused. He spends almost the whole morning talking but you can't hear him I guess, I don't get it. Are you even in the room? How would you know anyway? Maybe that's why you can't hear his calls because you're not in there. I think I may be seeing a connection between leela and pure tick. The only thing you've done on this board is slander each and every room as it's come up. Let me ask you a question: What do you think about puretick.com?
Yes - I was in that room and traded the system. It takes 50% fib ambush trades on a fast tick chart. The problem is where to anchor the fibs - your success depends 100% on whether you pick the right anchor point and that can be a big challenge on a fast tick chart. Being just 1 tick off on one trade can turn a possible winning day into a losing day. His videos are done with HINDISGHT so he makes sure the right anchor point is used so that most trades look profitable. The other problem is the risk/reward. A stop out for 2 contracts is -14 ticks. The average win totals about 8-9 ticks because he takes 1 off at +2 ticks. He is cutting his winners short. The system and room are cheap so I don't feel like I was ripped off but he is clearly pulling the wool over people's eyes in those video recaps. If it looks too good to be true it probably is.