Tried the Trade Pilot Pro free trial on trade pilot pro. They usually tell you if they are in a trade AFTER the fact not BEFORE. They don't lie about this, they will tell right out that they don't call out trades. They have some good education that may help you learn some tricks if you stay there during the trial, but I see no reason to stay longer or at the most pay for a month after the trial to learn more. I am sure that they are good traders, but when they asked if you took a trade they took, it was only me and one other person who said yes since we know how to trade already. On puretick, took the trial just to see what all the fuss was about. The positive is the room is actually very professional. Trades are called out before they happen letting you get in the trade. Teaching does occur. Only negative is risk vs reward. Risk 20 to 25 to make 5 to 7 for newbies on 1st contract. For pros, he does mention trailing stop or going for more profit on 2nd contract. They were stopped out on a trade a week or so ago, and lost some subscribers due to that issue but there are many in the room. Both rooms, I do think the head traders make money from trading more so in the trade pilot pro room where they will risk 2 points or less for 2 to 4 points of profit which is more of the style of trading that I am working on for my own trades and don't need to stay in their room to learn more. My volume indicator is better than their indicator. I think trying some room trials is good to see if you can learn something new to help with your own trading but your goal should be to trade on your own.
Hi FB123, Thanks for you candid & eye opening posts on this thread! Your last couple of posts got me thinking though. I don't need anything too specific for privacy reasons. But when you started trading, who taught you? It appears you are self-taught which is great! About how long did it take you to become consistently profitable? One final question. When you started did you have a fairly large account? Reason I ask is learning to trade with a large account, is very different from learning with a small account. ie. I am like 95% sure that the ES will trade at or higher than 1100(trading around 1090 now) in the real near future. But I am only about 75% sure it won't go to 1070 first. So, if I had a very large account & could afford to take the $1000 hit per lot, I would take that trade every time! Put being the poor guy that I am, I do nothing! That was just to illustrate the massive difference between large & small accounts. If you think the questions are too personal to answer, no problem. Thanks
So Alex, I mean Leela, What do you think about puretick.com? Still haven't heard your opinion on that one. This whole thread is an indisguise puretick plant. I know because this is the only thread in the history of ET where something positive has been said about puretick. Ladies and Gentleman, Leela is Alex of puretick.
I never had a formal mentor... pretty much learned everything on my own, by reading books and practicing. This is actually a good thing, because I was able to approach the market from my own perspective without being colored too much by anyone else. I've seen lots of different trading strategies, and I've seen people be successful with a number of them... but a lot of them are not for me. You have to find something that fits you, and if you have a mentor you may not find that very easily. What if someone is a really great trader and teacher, but his or her style just doesn't fit you? In the end, your charts and visual setup are the lens that gives you a view of market information that is fundamentally non-visual. Price movement itself is not a visual phenomenon... it just exists out there in the non-physical realm. Your chosen charts, time frame, indicators, EVERYTHING has to therefore be personally tailored to you, and make sense to YOU as a visual way of representing this data. It is often easier to find something suitable when you are just figuring things out on your own with complete freedom, instead of being constrained by trying to learn someone else's system. Depends how you count it. I spent a few years jacking around buying and selling penny stocks randomly without really trying to learn anything and without putting in any effort, and of course lost money. Took some crazy risks too, I was a little nuts. Of course that didn't get me anywhere, and I quit trading for a long while. Eventually I came back to it with a real sense of determination, and worked my ass off for the better part of a year. Put in thousands of hours into this effort, read dozens of books, went through literally hundreds and hundreds of different chart setups, indicators, you name it, until I found something that made sense to me. I spent a long time on a sim without trading real money, that saved me a LOT of losses that I would have taken during my learning process. There are mistakes that you are going to make with live money that cannot be prepared for on a sim, but a lot of issues can be worked out with a decent simulator, and you should make sure that you do that first before trading live. Nope. Relatively small account, enough to trade one contract comfortably. You don't need to have a large account to be successful if you know what you're doing, especially for daytrading, and especially if you have already practiced your ass off first to the point where you are 100% confident in yourself and your system. Live accounts are for making money, not for experimentation or for figuring out what system you want to trade. That would be a bad trade. You are talking about taking a trade to 1100 which is what, 10 points of profit... but you are willing to risk a move down to 1070 or below which is 20 points of loss? That is a terrible risk to reward ratio. Keep your losses small, and make your winners bigger. And don't "learn" with a live account. Learn with a sim account, and when you are good, then go live. You will still encounter problems in the transition, but there is no need to screw yourself and lose money on things that can worked out for free on a sim. If you trade with one contract, $10,000 should be enough to do any kind of intra-day trading. Start with that. And don't trade with more than one lot of NQ or YM to begin with. You can also trade forex with almost no money at all... even though the brokers may screw you on fills because they are taking the other side of your trades, if you swing trade long enough movements it won't really matter. You can start with very little money. Account size is all relative... you shouldn't be trading with more than 1 lot to start with anyways, and you shouldn't be trading with ANY real money at all until you are very, very certain you are going to make profits with it. You will encounter problems going from sim to live, but that is not a reason to be working out your issues with live money right from the get-go.
lol. Joe4422 is a plant. This is very clear. I don't know anything about Puretick other than what I read here. I got several PMs about you and your room. Joe4422 is a plant. This is very clear. I don't know anything about Puretick other than what I read here. I got several PMs about you and your room. One PM sent some threads showing you joe4422 is a plant: http://www.elitetrader.com/vb/showthread.php?s=&postid=2477105#post2477105 I can post more. there is another funny PM with the words "bear..bear.. bear.." Recognize that one? I will spare you the details of that one for now. LOL
joe4422 - it seems some subscriber was scared off his long this morning when you norrin scream BEAR BEAR BEAR. Did Norrin screamed BEAR BEAR BEAR while the market was heading up?
Norrin got us into three free trades on the ES in the room last night. 3. I made more than 8 ponts. Bear, bear, bear was referring to the market internals, which were bearish. How did you do yesterday Alex?
I'll tell you the problem with ET, it's full of venom spewers. If you try to answer a simple question you get dragged into it all. How the hell can you try to slag off a room that called three successful trades in a row? I don't even want to have to say that the markets went down almost 2 points about 30 seconds after Norrin shorted the market, because it would be turned into something negative. I don't even care. I don't even want to post on these boards. Leela you are an unsuccesful trader. If you want to become a success you should talk less and listen more. Slagging everything off isn't going to make you a successful trader. Anyone, I'm done with ET, and won't be posting here anymore. This is a pointless forum where everyone just slags each other and I'm getting dragged into it. But really this is comical and pointless. Good luck.