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JPJ Trading Review Market Profile (www.jpjtrading.com)
Started:September 25th, 2011 (11:44 PM) by Big Mike Views / Replies:21,200 / 95
Last Reply:April 5th, 2014 (09:04 AM) Attachments:1

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JPJ Trading Review Market Profile (www.jpjtrading.com)

Old September 30th, 2011, 11:36 PM   #21 (permalink)
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Chicago, IL/USA
 
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Platform: CTS T4 & Advanced Charting/proprietary .NET auto-execution engine
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This is true. I went to Peter Steidlmayer's latest seminar (this week) at the CBOT. Peter made it rather clear that Market Profile is not as effective as it once was. In its place, he now endorses his new 'Volume Strip' methodology and associated software. I was fortunate enough to meet the man while I was there; a nice guy to be sure. Oh yeah, and the 'Volume Strip' software is currently available only as an add-on for CTS T4


daza View Post

think about this Peter Steidlmayer has moved to volume profiling now with his volume strips theory , as the old TPO do not work as well as the volume profiles.


http://www.cmegroup.com/education/steidlmayer-volume-strips-video.html


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Old October 1st, 2011, 01:22 PM   #22 (permalink)
Elite Member
Chicago,IL
 
Trading Experience: Advanced
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Over the years JP has allowed quite a few members to take advantage of others in his room. Whether he was duped by those with "bad" intentions or involved on some level is for everyone to answer for themselves. As he comes across as a very "street" smart guy who is has been around for a long time, in my mind, the old saying "where there's smoke there's fire" keeps coming up.

He only "bounced" the ones that went into direct competition with him.

He always refused for anyone to see actual trading statements, giving all of the usual excuses. He even refused to trade real money during his "Las Vegas" get togethers.

I only add these comments because someone else brought up the subjects. As I said before, if you want an entertaining place to hangout it's fine. But, if you want to trade successfully be careful.

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Old October 11th, 2011, 09:16 PM   #23 (permalink)
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I too attended the 1 week trial and I too signed up for the one month of training. This is what I saw and heard. I heard that we should not be taking trades during the trial if we did not know what and why we should be taking a trade. I heard that it was not a trade calling room. It was a room for people who understood the setup and who were versed in the theory of Market Profile. I heard a string of winning trades. I heard a man repeatedly say that you'll learn as much from his losing trades as you will from his winning trades. I heard a man from whom several people opened their own rooms off his setups and didn't even bother to change the name in their rooms from what he called it. I heard him deny two people who operate a trading room be denied entry into his training class. I heard a man who repeatedly said if his personality is not for you he understood. I heard a man say at the beginning that he wanted to limit the number of people to 20 but would hold it open for the week. I heard a man being true to his word and let over 65 people into the class. A heard a man who for a week of training was a patient and competent educator with the nightmarish task of keeping over 65 people who were at all different levels of experience trading and with over 65 different agendas trying to keep them on task and on subject. I heard a man who went beyond the theory of Market Profile and begin to teach how to take theory and translate that into a trading methodology. I heard a man explain the trades that setup throughout the trading day. Was it after the fact: yes.* Was that a problem? No. Why? Because I was there to learn the concept. His room is to teach a man how to fish. Several on this thread appear to want to be given a fish by wanting to turn his room into a trade calling room. His after the fact trades were taken as confirmation that what he was teaching was working. We saw it work. We saw where the setups were and we heard the explanation about the conditions (rules) under which we would and would not take the trade. I saw a man charge $400 for 1 month of training that I know for a fact others charge thousands of dollars: Beyond Profile; Value Zone Trading; Strategic Trading; Trader Girl; Kevin “Huddy” Hudson; Charles Cochran; Tom Alexander; Trade Angle Strategies and a host of others on Trader Kingdom. This is far from being a comprehensive list but I defy anyone to name me anyone who teaches the theory and the application for $400 or less. I heard a man who was no smooth talking salesman. This is a small fraction of what I saw and heard.
* Explanations for these trades were taken at the end of the training day. He was training and NOT looking at how the market was trading. We knew where, according to Market Profile theory, the levels were and we knew that the trade setups he was teaching were valid.


Last edited by Aragorn; October 11th, 2011 at 09:36 PM. Reason: Clarification
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Old October 12th, 2011, 05:03 PM   #24 (permalink)
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daza View Post
I agree with TI Anon, I spent 6 months in the room and I am embarrassed to say how much I lost even thou it was in sim..


daza View Post
it is true that TG took his methods and made them her own and they still do not work,, I am ashamed to say I did her course as well and when in JP's room she seemed to do well but in hindsight she was calling trades late as well..

I have been trading MP using volume profiling and have been doing very well so I do not regret doing JP course as it took me forward in my MP/VP education and I would never trade with out it..

Is it just me or is there an inconsistency with these posts? On the one hand he says he lost money for 6 months. On the other hand, in addition to taking JP's course, he also took TG course that is based on JP's. Obviously the guy must have been doing something right if other rooms were spawned off his room or course or setups.
Finally, he wraps up by saying he has "been doing very well" so he doesn't regret taking JP's course! He says he lost money for 6 months but now he is "doing very well" off of what he learned from JP and TG?

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Old October 17th, 2011, 07:40 AM   #25 (permalink)
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orlando, fl
 
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JPJ Trading Review Market Profile (www.jpjtrading.com)

i have been following this thread with great interest
disclosure, i am a grandfather, i have been in jp's room for a year (dd)

jp starts everyday by saying if you are new to the room 'do not trade'
when he's in a trade he is not about answering questions while in the trade
i'm sure many of you when you are in a trade leave your desk to weed gardens, wash cars, etc
he will answer questions when he has room in the trade or is out of it
the free week is not a get rich quick scheme, that so many traders are looking for

the rules are pretty clear in his room
you come in for a week's trial - a free trial
the idea should be to see if jp and his methodology are for you
yet it is amazing how many 'traders' come in for that week and want to trade it the first 12 minutes of the open
when jp calls out a trade i would be surprised if most people that are not in his room on a daily basis even understand what he is saying
it is also amazing to me how many people come in for the free trial and want him to tell them how he trades
does he not say countless times he won't and that if you sign up for the training he will show you
and yet every hour there is someone cajoling him about giving up "the secret sauce" or "why did you go long there"

are there grandfathers in his room not making money? of course.
would they make money somewher else? i doubt it
why? because they second guess themselves. jp puts stops at ranges
and he typically gets in front of the market
a lot of traders can't do that. they can't emotionally stand in front of a market going against them
and then they can't put a stop in a range when they only want to lose a point
these are the same guys that want to risk a point to make 10
you can lead a horse to water but you can't make them drink

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Old October 17th, 2011, 03:28 PM   #26 (permalink)
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Charlotte NC
 
Trading Experience: Advanced
Platform: Ninja Trader charts, Rithmic
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soumi71 View Post
Yes , JP trades ES only in his room , he focuses on this market only , but I know that from his discussions he trades the bonds too , some grandfathers trade CL and 6E successfully , using MP too.

True some members trade CL and 6E (including myself), but nobody uses MP the way JP teaches to trade these products that are practically 24 hour markets.
JP set ups are mainly based on RTH.

I should add that like everything else out there, JP setups work sometimes and do not work other times (surprise, surprise).
People join the room to find the magic set ups, but the real lesson (and worth the $1,200) is to see his trade management in action (hardly ever takes a trade that is not on his plan, never misses a trade that is in his plan (unless he gets distracted), he is impatient with losses and very patient with trades that go his way). But you guys read all this a million times in this forum no?

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Old October 20th, 2011, 08:05 PM   #27 (permalink)
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Aurora, canada
 
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from soccerdude about JPJ room

I have been in the room for the last 2-3 weeks, I have to honestly say that JP is very honest man and he will do his best to teach you the method....market profile trading method is not easy so you have to be patient, but he explains the trades and call them a head of time but he's also a trader so you need to consider that he watches his money too.....I have not ever seen someone that willing to teach others......thank you so much JP for this great room.

soccerdude.

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Old October 21st, 2011, 08:08 AM   #28 (permalink)
Elite Member
New York, United States
 
Trading Experience: Beginner
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Agree


dh004110 View Post
I have been in the room for the last 2-3 weeks, I have to honestly say that JP is very honest man and he will do his best to teach you the method....market profile trading method is not easy so you have to be patient, but he explains the trades and call them a head of time but he's also a trader so you need to consider that he watches his money too.....I have not ever seen someone that willing to teach others......thank you so much JP for this great room.


dh004110 View Post

soccerdude.

I agree with soccer dude

I have been in a few other rooms over the past 2 years, and JP's room I would rank very high amoung them. Probably one of the top 3.

I am getting to see how JP views Market Profile, and to me it is starting to make sense. Plus he is showing us how he uses the Market Delta along with Market Profile.


Last edited by Ben16JP2; October 21st, 2011 at 08:19 AM.
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Old October 24th, 2011, 05:48 PM   #29 (permalink)
Elite Member
Durham, NC
 
Trading Experience: Beginner
Platform: NinjaTrader
Broker/Data: Mirus Futures/Zen-Fire
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meyer99 View Post
True some members trade CL and 6E (including myself), but nobody uses MP the way JP teaches to trade these products that are practically 24 hour markets.
JP set ups are mainly based on RTH.

I should add that like everything else out there, JP setups work sometimes and do not work other times (surprise, surprise).
People join the room to find the magic set ups, but the real lesson (and worth the $1,200) is to see his trade management in action (hardly ever takes a trade that is not on his plan, never misses a trade that is in his plan (unless he gets distracted), he is impatient with losses and very patient with trades that go his way). But you guys read all this a million times in this forum no?


BINGO... You win the prize Meyer. I am also a grandfather of the room.

Those who are disgruntle tend to be folks who want fish given to them instead of want to learn to fish....
The $1200 taught me how a professional behaves.. the market profile education was a bonus.

He follows the plan to the tick.... Never shooting from the hip. Cuts his losses quickly and lets profits run all
day if necessary. Easy to say to do this, putting it in practice daily - that's another story..

Someone said the trades were not profitable for 6 months... Baloney!!!
His consistency in execution of trade plan and management of trades would keep a trader profitable over that kind of time. No freaking way the room had 6 month draw down... B.S.

Mike you would need to spend some time everyday with him... its like learning a foreign language.

I do criticize some of the trade management techniques but JP has said from the beginning his trade management style is not for all.


Merlin (my name in the room)...

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Old October 25th, 2011, 09:08 AM   #30 (permalink)
Elite Member
Chester Springs, PA
 
Trading Experience: Intermediate
Platform: NinjaTrader
Broker/Data: Optimus Trading & Rithmic
Favorite Instrument: ES, CL
 
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daza View Post
I agree with TI Anon, I spent 6 months in the room and I am embarrassed to say how much I lost even thou it was in sim.. the fact the people say he has green days most days is not true,, I saw him be under water most days, he would catch the odd good trade but that was never enough to cover the losing trades...

You would also lose voice as he was entering a trade,, I was in the free trial today just to see if had changed his ways but I saw the first trade off the open (open range trade) the voice went quiet,, until all of a sudden I heard' I am short 42.25',,, price was at 41.25 by that point... funny cos it say's on his site all trades are called out before hand.... mmmm may be not then...lol

think about this
Peter Steidlmayer has moved to volume profiling now with his volume strips theory , as the old TPO do not work as well as the volume profiles.


http://www.cmegroup.com/education/steidlmayer-volume-strips-video.html

as TI Anon says be warned

Daza

Daza, I went back and looked at 9/26 and what he teaches he went short exactly where he teaches people to go short on that trade. So I am not sure how you would have missed that setup. Guess people see what they want to see.
Lot of people complain about JP, because he won't give out much info until you actually pony up some money and pay to be a member. Lot of people want something for nothing and so they go from room to room, mentor to mentor and they just keep on losing money. JP isn't for everyone, but then the ones who can get rid of all their old trading baggage and spend the time learning his setups and maybe even incorporating somethings that you hopefully have learned from trading over the years there is opportunity. But like a trader once told me, "I can take hundred students and teach them all the exact same method and we will get 100 different results and not all are going to be successful".

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