When I started trading I thought that this game would be trowing some money in, be smart, read some books and earn a living. I was wrong. Very wrong.
I joined a trading room who is specialized in Forex trading and the guy told me : we have NO BLOWN UP ACCOUNTS and you will learn how to trade for a living !
For a guy who blew up his first account in a blink of an eye that was really an eye catcher !
I bought his indicators and started learning on sim with him. I learned a bunch, I could ask him anything for days and days and days, from stupid things to hard core heavy trading insight things. He always answered. And explained again and again. He learned me all I know. He learned me also what my problem is in trading and how to fix it, and I'm working on it to fix it.
I hear many people about trading rooms that they are just a lie, but my room must be different then, he trades live money, he looses money when we loose money, he wins when we wins and he's monthly positive even in the last bad holiday months (al do a lot less than during the year) he calls the trades before he enters and provides explanation about the trades he enters.
This may be a guide for people who are looking for a trading room, you could check this list :
Positive things :
* Moderator trades with real money
* Trades always called in advance and never after the fact
* Answers all my stupid questions, never ignores me
* Cameradi between members
* Structured learning system
* Works with same software I'm working with (
Ninjatrader and
Multicharts)
* If I would have done 100% what he learned me I would have NOT lost money, but I didn't so I lost
* True mentoring, I need that, it's the fastest way for me to learn, it's also a control mechanism, it's an experienced trader sitting next to you day by day
* Not scared to change his system/charts according to market situation
* He has a free test 1 week system
* It's not a magic new system, it's solid real high level technical trading
* He's honest, I confronted him with certain things and he just honestly answered like it is.
* Forex and Futures
Negative things:
* He's a IB and I think he takes money from trades I make ? My broker denies it when I ask him about it ?
* You have to pay an extra monthly fee ($16/month for the software he uses to share his room, and it can crash a few times in a week)
* It's not cheap but worth the money IMHO
* The indicators he uses are a combination of daily zones/fibonacci but that's not really 100% clear what they are, but once you have them you don't really care because they work correctly
Would I have done it again, absolutely, I would have quit already or would have lost more money without having a clue what my problem was. A mentor is mandatory for me. Remember if I would have followed his trades and not mine I would have won money instead of lost money.
