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Question about SchoolOfTrade.com

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GotItForCheap

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Hi all,

In reference to: schooloftrade.wordpress.com

I found this guys site and been watching the videos posted on his blog about his methodolgy and return he is getting on his day trading - is he doing anything or using anything for the course cost of $3699 that can't be sourced or learnt elsewhere? :confused::confused:

Maybe some old hats out there have 2c they'd like to share :).

Thanks in advance!

GotItForCheap
 
Re: Question on SchoolOfTrade.com

If the market is below your entry and you are facing a loss, move your stop up to entry and the market will force you out of the market for a small loss
Click to expand...

Wow and they say they trade crude? Gotta sit though BIG squeezes (if you don't go bust first)
 
Re: Question on SchoolOfTrade.com

Looking for more of an opinion of whether this is the 'real deal' or not; so to speak.

The website says a lot but at the same time doesn't say much if you catch my drift.
 
Re: Question on SchoolOfTrade.com

GotItForCheap said:
Looking for more of an opinion of whether this is the 'real deal' or not; so to speak.

The website says a lot but at the same time doesn't say much if you catch my drift.
Click to expand...

How long have you been running the website for, GIFC?

gg
 
Re: Question on SchoolOfTrade.com

I watched two tube scenes (which happened to be winning trades) and Mr. James says you have to join. There is a free 3 week trial to know for sure.

Our main indicators include Market Profile, Price Action, Momentum, & Volume.
Click to expand...

"Buy now, sell now" indicators can be created with your own charting software. Then a defined trade management adherence to follow through.
 
Re: Question on SchoolOfTrade.com

Wysiwyg said:
I watched two tube scenes (which happened to be winning trades) and Mr. James says you have to join. There is a free 3 week trial to know for sure.
Click to expand...

Yeah I can't get that part to work, throws up an error when I try to sign up as a trial member :banghead: does it work for anyone else? I'm interested to watch if only it would work.
 
Re: Question on SchoolOfTrade.com

GotItForCheap said:
Yeah I can't get that part to work, throws up an error when I try to sign up as a trial member :banghead: does it work for anyone else? I'm interested to watch if only it would work.
Click to expand...

Are you in oz or the USA? Don't know how are going to go trading CL &GC with 6 -15 tick SL from Oz. You have about a 1 sec latency without factoring in that you are following some else's calls which will ad another huge delay.

With CL having a 1 min ATR of around 12 ticks I can see what will happen.
:samurai:
 
watched the vids. Unimpressed.

when you look at the chart, he's picked up 40 cents at the end of a 5 dollar move, and then tries passing it off as a 10 tick profit. That's more than a little misleading. The reality is that he made 3 1/3 ticks per contract. Trading a short term breakout and looking to scab 4 ticks on 2/3 of the position is hardly something you'll want to try and replicate.

In one of his vids, he talks about trading a "2 step short" This is also quite commonly referred to as a 123 pattern

You can have this pattern for free

http://www.trading-naked.com/123-reversal.htm

His "breaker long" pattern is also pretty well a 123, but used as a continuation pattern.

That'll be 3.5K thanks:D
 
Re: Question on SchoolOfTrade.com

Trembling Hand said:
Are you in oz or the USA?
Click to expand...

Australia

Trembling Hand said:
You have about a 1 sec latency without factoring in that you are following some else's calls which will ad another huge delay.
Click to expand...

I considered the lag between him calling the setups and myself clicking the button (maybe). Thanks for reinforcing the angle.

TH - If you were to replicate these scalps from here, who would you go with for brokerage/execution with a view to minimise lag?
 
professor_frink said:
when you look at the chart, he's picked up 40 cents at the end of a 5 dollar move, and then tries passing it off as a 10 tick profit. That's more than a little misleading. The reality is that he made 3 1/3 ticks per contract. Trading a short term breakout and looking to scab 4 ticks on 2/3 of the position is hardly something you'll want to try and replicate.
Click to expand...

Many thanks Prof! This is exactly the feedback I was looking for - he talks so fast and scribbles all over his charts its easy for a newb such as myself to go glassy eyed and not be able to detect any exaggerations or straight out BS that may be said in the commentary.

/me trying to remain wary of the scammers.

That said, regardless of its true or not, he is doing a good job of making it look real if anything :cautious:
 
GotItForCheap said:
Many thanks Prof! This is exactly the feedback I was looking for - he talks so fast and scribbles all over his charts its easy for a newb such as myself to go glassy eyed and not be able to detect any exaggerations or straight out BS that may be said in the commentary.

/me trying to remain wary of the scammers.

That said, regardless of its true or not, he is doing a good job of making it look real if anything :cautious:
Click to expand...

No worries, hope it helps:)
 
Re: Question on SchoolOfTrade.com

GotItForCheap said:
No idea what GFIC means, but its not my site if that helps?
Click to expand...

GotItForCheap.

is he doing anything or using anything for the course cost of $3699 that can't be sourced or learnt elsewhere?
Click to expand...

Not likely. I'd recommend reading everything you can on the net, and put the $3700 aside for when you're ready to trade.
 
This guy is a FRAUD in my opinion. I am speaking from experience as I was stupid enough to join! Watch my Review on YouTube, please search for JamesWaveUT, kind regards Lloyd Hopkins
 
Thanks for the video and review Lloyd and I am sorry for the loss you have experienced with this guy - for anyone else interested the video slideshow and secrets to SchoolOfTrades fictional success is linked below:

http://bit.ly/a48Gbi

It makes complete sense to me that the only way this guy is getting filled instantly is using simulation. The homework you have done looking at the order screen really shows this.

What a scammer! :mad::mad:

NB. Have you yet identified a futures daytrading method thats working for you?
 
Boy oh boy. There is a pattern to these type of dudes.

High win rate.

High dollar value quoted as being won each day.

No mention of commission cost or other expenses.

No mention of minimum capital.

Profit % based on margin or "look we made $1200 on just 2 contracts"

Small profits per trade relative to what they risk, normally negative R:R!!
 
LloydH said:
This guy is a FRAUD in my opinion. I am speaking from experience as I was stupid enough to join! Watch my Review on YouTube, please search for JamesWaveUT, kind regards Lloyd Hopkins
Click to expand...

sorry to hear Lloyd. Great review though. Hopefully nobody else gets caught up in this kind of nonsense in the future.
 
GotItForCheap said:
Is it ever acceptable to have a negative R:R if you're using "high-percentage win" setups such as those spruiked by this gent?
Click to expand...

I have not seen anyone show that they can survive doing it, would love to see it being done with real money. :cool:

I just don't know why you would want to. Trade all day then get two go against you and you lose all your hard work.
Its a joke.
 

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