Review For Trading Rooms...Software Used...Price...Room Quality in Making Money

[tradernate]

Need reviews of actual rooms that call trades, or rooms that actually teach beyond intro to losing money. List Room Name, Your Personal experience, Software Used, and Price. I think we will have fun with this one...Nate

[sousou]

http://www.becomeabettertrader.com/

Thy guy is a scam , he scalps for 1 tick with multiple contracts and averages down on loosing positions , he is a great marketer

He used to run a free chatroom on MIRC , back in 2008 , his first website was powercharting.com

I followed him for a couple of weeks and then he opened a trading room , too priced in my opinion for $349 I l believe ...

Stay away from him guys !!!

[tryitagainmf]

http://www.becomeabettertrader.com/

Thy guy is a scam , he scalps for 1 tick with multiple contracts and averages down on loosing positions , he is a great marketer

 

WOW...people are actually paying to be in that room?!

 

Thanks for the post sousou!

 

Cheers!

 

Mick

[⭐ AndyS]

I tried Brooks room before. He does a great job explaining price action of what just happen and why it did, but would ( or maybe could not) call out a single profitable trade for me. It was suppose to be an educational experience, but after 30 days and $99 I found out that I also can do a great job explaining past! Actually I was very sharp. He also claims to be pure price action, but after 20 MA and MTF 20 MAs, countless Trendlines, the 15M and 60M chart, as well as measured move fib, it was hard to see the price or any action for that matter!

I believe that great traders trade, other just sell indicators or get a room!!! Can you imagine Richard Dennis or George Soros setting up a trading room for $99 per month :)

Andy

[sousou]

Yes, I tried Brooks for one day only lol !! I needed an interpreter ... made things look so hard to look at .....

The best method , is the one you come up with yourself ,the one that speaks to you

that's what has worked for me ,My Method ..

I guess we al have through those stages of looking for the best indicator , the perfect Master , the perfect set-up , the perfect room ... Just to realize that we have potential in our own selves and there is no such thing as PERFECT in this game !

Cheers !

[longboat]

I'm sure I will remember more later! Here goes:

 

Momentum Trading Systems

Bogus! They have proprietary levels generated on all 4 equity indexes. They use NT. If the bar closes over their

 

level and works, he will say he was in, if not he says he passed it. Total BS. Don't show entries, don't ever bring

 

up news times. Can't pronounce NASDAQ, calls it NASDICK. Aweful, nuf said $299/mo

 

KwikPop

Es on 7500 vol chart. Win loss percentage not great and the risk reward stinks. The only person making money is the

 

brokers. $60/mo basic ES package and $15 more for the room. Ninja and Tradestation

 

Al Brooks

I respect him and have read all his books but do not waste your time or money on the room. $99/mo. He spends the

 

day confusing you and talking you out of every setup, then at the end of the day you find out he made a ton of

 

trades and made a ton of money. No trade calls at all. Ridiculous, but he is a solid trader and believe him to be

 

legit. He uses Tradestation but there are no charts in the room.

 

Advance Traders Workshop ATW

Bogus! Hard sell too! Andy makes his calls, never shows his entries. Says he got in 5 ticks ago did everyone get

 

it? Yea I got it. Don't waste your money!Sniper Scalper is $399/mo and other products go up to 9k. Not sure you get

 

the room with Sniper or not. There are 2 rooms. Trust me it is expensive

 

Emini Sniper

Rob is a nice guy but too many charts too many potential trades 2 different methods too confusing. Not very good.

$199 first mo then $99/mo

 

Viper Trading System

Looks super. Gary shows his live NT dome sometimes, with a huge gain- like $1500 on some trades,but something just

 

isn't right. He never takes a loss if he does it is a few ticks. He says he makes 5k a day drawing trendlines. It

 

is seductive! It is easy to draw trendlines after the fact! He never calls his entry ahead of time. If it works he

 

asks did you get it? Yea I never heard that before! $299 , some pay $399/mo. after $199 deal the first 2 mos.The

 

autotraders don't look good and the Platinum package you will take huge heat very often. Platinum is an extra

 

$189/mo Ninja software. He shows his P&L BUT it is not a ninja trader market analyzer, its a one box summary of a third party summary they put together, so I don't believe it.

 

Felton Trading

Roger seems like such a nice guy, but sorry way over priced. They change the system all the time. He comes in the

 

trade room already up a lot of money then proceeds to lose most of it. He leaves and texts winning trades into the

 

room he says he took. He admits it is all sim because it is too hard to teach and trade live. My question is: then

 

why trade in sim when you are out of the trade room? Answer: to pad the results which are BOGUS! System is or was

 

about 4K and then you have to pay for the room after a few mos. I think they want $300/mo for that. He uses Ninja

 

now

 

 

Puretick

Ha Pure BS is what it should be called. he uses Tradestation. He rings a bell when there is a setup in the YM. He

 

gets in at a price you never could have filled and pokes fun at all the newbie traders. He is an arrogant a**. He

 

claims he worked at Merrill lynch after he was a taxi driver. I have news for you, I worked there too and they do

 

not hire taxi drivers and let them be a portfolio manager as he claims he was! Total bogus room. $450 /mo for his

 

YM room. He claims an 89% win ratio over 5 years! Total and utter fantasy. No way! Why doesn't the CFTC crack down

 

on these jerks and their fantasy profits? Doesn't show his entries. A scam.

 

Like I said. I am sure I will remember more (that I would like to forget)!

X_X

[Guest FloridaTrader]

Disregard...thanks! Edited May 11, 2013 by FloridaTrader

[⭐ osijek1289]

@longboat - lol, what a great set of reviews!!! Uncensored and telling it like it is - I love it!!! These are the reviews missing from even third party observers, reviewing on sites like traderslaboratory and BMT!

 

What the above does underline is that

 

1) it is incredibly hard to make consistent money trading

 

2) for most traders - at least the kind running chat rooms - it truly is distracting to run the room, field questions, create dialogue/value, AND be in proper sync with the market; when I am trading properly, the slightest distraction (phone, posting, reading sites/twitters) can have an incredibly detrimental effect on my trading

 

3) if these guys were as good as they are, they would not be deriving a significant portion of their income from these so called trading rooms; these guys running these rooms are incredibly far from decent traders - the decent ones are turning over their accounts many times a year, and doing so without anyone gazing in. I have come across a few honest folks running trade rooms (ie., Hubert Senters) who has admitted that the rooms, sales, and other commissions net him at least one-third of his overall profits - that is quite alluring.

 

A couple of other things come to mind: Rob Hoffman last year lost $282K on a ~$320K live account in the trading room - there were at least 17 folks in there at the time, he was trading TF, got upside down, and added to a losing position with something like over 800+ lots - I think he was 890+ lots in all together, and price plowed through, and all saw the broker confirmation that he'd reached 80%+ loss position, and he was liquidated. He'd been in a trading alliance with Senters & John Carter at the time, and shortly thereafter got booted, and now has his own trading room. Yes, everyone can have a bad day, but it is those rare mistakes with too much leverage that can blow one up; I truly feel bad for him, losing that type of real coin in minutes.

 

On the positive side, if you are looking for a room, Anthony at eminiexchange seems genuine - they have trials every so often and seem like they'd grant access even on one-off requests. When I was in there a few weeks ago, there were ~40 members in the room, and Anthony is very regimented about calling trades, scratching them, and even declaring losses - that discipline is very rare, and while his stats are not spectacular, they seem accurate (in contrast to the mumbo jumbo-traders posted above by @longboat.

[Traderbeauty]

WOW WOW WOW

Longboat

This is amazing. i can tell you about few more that are total bs like kingfish and many many more.

So what does that tell you ?

DO NOT go into any trading room because at least 99% of them are bogus. The solution is -

WORK HARD and trust yourself. Find a strategy and method that is suitable for you then trade it for at least few month on a good simulator ( one that takes into account the q and does not fill you on a touch) and only then go live.

Don't waste your money on magic indicators and ultra amazing systems claiming that you will net few million within 2 weeks because there are none.( at least not for sale ).

I have been trading for a long time and went through everything under the sun like advanced get or visual trader. Its all nice and beautiful in reverse but its a different story calling real time.

Trust in yourself, you can be your best trading room.

Good luck.

Jane

p.s i do like kwikpop method, they are actually playing the short term swings in the market but their indicators will be killed on a choppy day like any others.

[keifer]

http://www.becomeabettertrader.com/

Thy guy is a scam , he scalps for 1 tick with multiple contracts and averages down on loosing positions , he is a great marketer

He used to run a free chatroom on MIRC , back in 2008 , his first website was powercharting.com

I followed him for a couple of weeks and then he opened a trading room , too priced in my opinion for $349 I l believe ...

Stay away from him guys !!!

 

He famously lost 300k on one trade trying to average down on some vortex of doom. Then had the nerve to spin it as a great learning experience.

[traderx4]

Keep up the Good work posting scam trading rooms.

This is better than Forex Peace Army!!

\\m/

[bdvest]

hard to find good trading rooms because profit traders will trade, not call out entries all day.

 

However there are vendors who sell stuff that may have decent trading rooms.

 

Any a review of OFA Software forum/chat operated by DB Vallelo (sp?). I download the OFA 5 part video and I think the software one of better order flow analysis out there. ( need educated version to test. Dont mind paying after if I like it)

 

Sites I follow:

 

emini-watch website has videos that will show how to trade. has useful indicators.

 

tastytrade.com is live broadcast every day by veteran floor traders and founder of thinkorswim (anyone know how to record the live broadcast stream? )

 

Thinkorswim daily webinars. Access from chat feature. Fantastic information there for new traders.

 

elitetrader.com had a chat feature several years ago. had some good traders making live calls. Not sure if still around.

 

Once you have basics, Best chat room is between your ears.

[traderx4]

Forex Traders Corp(Tiger Lanes) run by Kashif and His crew are a good set of Guys. They Use the Fibonacci Grids Like (Greedy Andy Sherman) and they actually make good pips right in front of you. Their teaching methods are very helpful and understandable; explaining why they are taking trades

BEFORE the event. £199.00 per month not a bad price for the software and 24/5 training. I don't use them now as I have a proprietor trading style of my own.

 

http://www.forextraderscorp.com/

Edited May 12, 2013 by traderx4

[forexmaniac84]

Anyone has experience with the teaching, indicators and live trading room of this company called futuresfx.ca run by guy named Simon? I heard quite good reviews about him and saw a few videos about his method of reading the Tape (footprint) and he got a few interesting indicators to read the footprint

 

http://www.futuresfx.ca/

[longboat]

Yea I was in his room and had that course a year or two ago. He seems to trade live and does well, but I didn't make any money. The course is a disorganized mess of different videos over years of trying different things. Unorganized and I don't know if it is his accent or that he is just a bad teacher, but i could never understand him. I know other traders that bought his course and felt the same way. It is very hard to learn and nobody could get it. I wouldn't spend the money, but maybe it is different now.

[westvleteren]

After two years of struggling with traditional indicators and looking for a "good" system (see the 100's here on indo-investasi) or a "good" method (Tradeguider,MT Predictor, Various Ninja to name a few) I realised that I personally (this is only my experience and I do NOT claim to have the truth) was not understanding the markets and as such could not be consistent profitable as trader on the longer run.

I decided to trhough all overbeoard I knew about trading and became a member at L2ST. Here I learned first to understand the markets and how to apply Market Profile and related. L2ST is not for free (although a lot is shared for free) and they have no free trials. But I learned how to become consistent profitable. Count on a monthly fee for the room, the use of M@rketDelt@ software, paid DTN IQ datafeed for a period of at least 6 months (again: this is my personal experience; it may be different for other persons). Also have 6 months full-time time availabel to follow the room, the markets and digest what you daily learn. I know this is not available for each trader. I am not associated with L2ST. Some people were not happy with L2ST and ended up with FT71. Personally I liek L2ST more than FT71 as L2ST offers the complete trading picture where as FT71 is more limited, but both offer Market Profile related materials. I hope this helps. www.l2st.co.uk

[forexmaniac84]

After two years of struggling with traditional indicators and looking for a "good" system (see the 100's here on indo-investasi) or a "good" method (Tradeguider,MT Predictor, Various Ninja to name a few) I realised that I personally (this is only my experience and I do NOT claim to have the truth) was not understanding the markets and as such could not be consistent profitable as trader on the longer run.

I decided to trhough all overbeoard I knew about trading and became a member at L2ST. Here I learned first to understand the markets and how to apply Market Profile and related. L2ST is not for free (although a lot is shared for free) and they have no free trials. But I learned how to become consistent profitable. Count on a monthly fee for the room, the use of M@rketDelt@ software, paid DTN IQ datafeed for a period of at least 6 months (again: this is my personal experience; it may be different for other persons). Also have 6 months full-time time availabel to follow the room, the markets and digest what you daily learn. I know this is not available for each trader. I am not associated with L2ST. Some people were not happy with L2ST and ended up with FT71. Personally I liek L2ST more than FT71 as L2ST offers the complete trading picture where as FT71 is more limited, but both offer Market Profile related materials. I hope this helps. www.l2st.co.uk

 

Westvleteren,

Thanks so much for sharing your experience. FT71 is good but his share is very limited. His education is not very structured and really hard for beginners. I do not know whether it is different from his brokerage clients now. But i guess it is very difficult to have his personal attention with hundreds of clients that they have.

I watched a few videos from L2ST and really like the way they trade. Look similar to FT71 but maybe the environment is much more structured

[westvleteren]

Forexmaniac84: What I personally like about L2ST is their claim that they will learn me to trade and deliver all I need eventually became true! Tools, method, psychology, trade managemant etc. all you need. Yes: you pay for the knowledge transfer and guidance, but the time you save (worth years of research) makes it a bargain (in my personal opinion). Again: I know people not being happy with L2ST, but for me it worked very well. Perhaps because I was prepared to do all L2ST suggested me to do (including switching over to another charting package, get expensive datafeed etc.). The click between you as trader and the person delivering the guidance is essential for success. As a trader you must be flexible. The most important I learned form L2ST: If you know the market (your enemy) you already won the battle before it started. So I make my daily plan and levels to trade-off the day before the market opens and I act upon them. Very cool if you see how the markert reacts on the pre determined levels - it gives you confidence when entering the trade and do the trade management.

[Traderbeauty]

I agree with the above views about L2ST BUT.... as mentioned- the learning curve takes a long time and costs an arm and a leg.

In my opinion a much easier and cheaper and faster solution is KWIKPOP.

First of all you can get all their indicators here in our forum.

Second- it works off ninja so no need for other data services.

Third- they have a lof of free videos and they open their room very often to the public.

Even their paid version is very cheap.

The reason why I think kwikpop is good specifically for beginners .Its is actually based on the basic moves in the market using swings.you are not gonna get rich but your losses will be controlled and the rules are very clear and simple.

So I believe they are more than worth it at least as a start.

Jane

[⭐ osijek1289]

... tastytrade.com is live broadcast every day by veteran floor traders and founder of thinkorswim (anyone know how to record the live broadcast stream? ) ...

 

The majority of web streaming stuff/formats can be recorded with WM Recorder.

 

I just did a quick search, and an 'educated' version should be here: http://www.rarefile.net/pfwumdn7dipb/WMRecorder.14.10.rar.html ; NOTE: although I've done a quick download, I have not done a thorough check for viruses (I have an older version install source somewhere, which still works for 90% of stream recording ... [note it cannot record silverlight])

[longboat]

A trader I knew bought the L2ST course and even visited the office in London. He got disgusted when he said Kam was trading a whole different way then what was taught in his course. Kam always came in the chat room and claimed some crazy amount of money he made early in the trading day on the DAX but never showed his trades live in the chatroom. He thought it was a scam and quit. It is not my experience, but I do trust my buddy. So FYI..just saying. Show me real live trades or I don't believe anyone's results anymore.

[westvleteren]

Longboat, Thanks for your input so all can benefit. By no mean I am going to defend L2ST and merely can only speak about my personal experience with L2ST. After being in the room for a long time and seeing the predicted levels made for the next day and each time those levels were used to take the trades.......Wether a person makes money on those levels or not I do not care and if a trader coach makes money by trading or not I do not care at all. I do care e.g. about the levels being part of the daily plan and that is one of the aspects I have learned at L2ST. No need to see a person trading live as long as the coach function is excellent. Just like football: the best football trainers are not necessary a good football player. As a trainer their job is to create good footballers. If a trader trainer makes money or not I do not care as long as I can learn and be successfull as a trader; which includes to make up the levels. And what L2ST is doing is no secret science. In the same line FT71 and many others (just see the references at the M@rketDelt@ website) are often ending up with the same levels.

Separate from L2ST. In general one need to get the ability to be consistent succesfull as a trader. There is no receipe taht is valid for each trader. One person will be very happy with trading room ABC while another will abandon trading room ABC and go for another trading room.

There are very few people who can trade consistent succesfully and coach efficinet and effective at the same time. I only met one person who stopped his trading group for personal reasons.

 

As a trader one ashould also find out which trading style fits one personality. Personally I wanted an approach by which I could predict (or better said: pre-set my levels for the next day) and then go trading instead of glaring at a screen all day and wait for an arrow to show up or a beep telling me to press a button. I would never be able to maintain that behaviour for more than 3 months behing a screen all day.

 

There is no good or wrong and I do not pretend to know anything. I merely try to help others here by sharing my personal experiences which may not be applicable to other traders. But I am very curious to see if other traders will share their experiences as well so we all can benefit.

Trading is not an easy job and finding your way around is not an easy job to accomplish.

[kram]

I subscribed to ATW SSS for a month a couple of months ago to try it out. The Scalper is not realy used anymore as it no longer gives consistently profitable signals. They have some other systems using a multitimeframe indicator called the pulse extreme but they don't really work either. In the live room, they showed trades that might have happened but never placed a live trade. Andy still says that cr@p about "I was in there 5 ticks ago, did you get it?". Their educational training on psychology and risk management is good but not the indicators. Don't beleive their emails; they hooked me in and then when I actually saw it's performance, I was disappointed and felt as though I was tricked. Note that they openly admit that 95% of people trying to become traders will fail.

[tradernate]

@Kram...."Note that they openly admit that 95% of people trying to become traders will fail." it looks like they smile and take your money and help you become the 95% with there worthless help. I too went in with a trading friend about 3 years ago, and saw the same thing.

I was in a trading room called eminiprofessor, on a friday-about 2 years ago..which is generally a 1/2 lot day, when he $$ cost averaged on the NQ/YM for 20 cars, and took over a 625 lost...sim or real...either way he did not know how to trade. He started out with 4 cars. He had 4 or 5 others in his room. After that week I never went back....he broke even thru the week, without that last trade of the week. So Kram...I feel your pain...with ATW.

 

I subscribed to ATW SSS for a month a couple of months ago to try it out. The Scalper is not realy used anymore as it no longer gives consistently profitable signals. They have some other systems using a multitimeframe indicator called the pulse extreme but they don't really work either. In the live room, they showed trades that might have happened but never placed a live trade. Andy still says that cr@p about "I was in there 5 ticks ago, did you get it?". Their educational training on psychology and risk management is good but not the indicators. Don't beleive their emails; they hooked me in and then when I actually saw it's performance, I was disappointed and felt as though I was tricked. Note that they openly admit that 95% of people trying to become traders will fail.

[tradernate]

@Longboat...Show me real live trades or I don't believe anyone's results anymore. I am with you all the way on that statement. I 've just seen too many lies.

 

A trader I knew bought the L2ST course and even visited the office in London. He got disgusted when he said Kam was trading a whole different way then what was taught in his course. Kam always came in the chat room and claimed some crazy amount of money he made early in the trading day on the DAX but never showed his trades live in the chatroom. He thought it was a scam and quit. It is not my experience, but I do trust my buddy. So FYI..just saying. Show me real live trades or I don't believe anyone's results anymore.

Edited May 15, 2013 by tradernate