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Have anybody asked yourself, why price droped from 1999usd to aproximatelly 1200usd? Perhaps demand is decreasing, lol
Anyways, its tool for exorbitant price without even possibility to test it via trial
Can you help answer these questions from other members on NexusFi?
I agree, if one trades a system without knowing why a trade occurs, that's insane. I have a reasonable understanding of the system and if I ever purchase it, I will 100% understand it before trading with live funds. I have a copy of "Trades About To Happen" by David Weis that I'm working on. I'm learning, have never blown up an account and will slowly evolve in my process. Thanks @bobwest!
You're entirely welcome. Just go slow and make sure you do understand everything you do, from within your own point of view and as you have worked it all out.
As to blowing up an account, you probably will. Most of us seem to (I have), and it is a learning experience of its own if you can take it that way....
Bob.
When one door closes, another opens.
-- Cervantes, Don Quixote
Well i have a system that i use every day. I dont use much of the indicators but this is nice addition. I dont think you can make money if you dont know how to trade or you dont have a good system/set up. If you will just follow the signals you will blow out you account really quickly. If you have a good system this will help you at least it helps me. You have to understand what that script is all about and what is showing you! That is the most important part of using it! Today i did two trades based on my system with help of this indicator and all of the trades were excellent. This is only my second day using this but i love it so far.
Whilst Mbox Mike and Matt Bowen may be partners, what is taught in the room is nothing to do with the Mbox software.
In fact, the basic underlying system taught by Matt ,the Mbox software is not even needed.
Matt has a wealth of knowledge but in all honesty, the crux of what is taught in the room is prices crossing over five stacked moving averages and when you are wrong, to get out quick (usually 10 ticks). And once you have made your "nut" for the day, to stop trading, or to then practice on a sim.
I felt "cheated" with the grand-father package. Whilst the software makes it easy to plot that would otherwise take some time to set-up, and looks/feels cleaner to look at, I had zero intention of trading off a one minute bar and the fact is many others who join rarely stick around, it's evident they feel the same.
There have been a few successes, whose daily PnL numbers Matt will present on his Twitter page, but when you consider all those who simply give up as what is taught is not in tune with their personalities, the ratio of successful people coming out the room is probably less than the industry average.
It did peeve me off when I found people could get guest pass for the room for a day or so. Had I known this, I would never have paid to join the room after a visit.
There are some very helpful people in the room but do not join if you want to learn about using the Mbox software or orderflow.
Thanks for responding. Matt and Mike are indeed "partners" Mike told me via email.
I finally did the free day in the trading room and hated it. Like you said, it's nothing like MBox Mike trades. Matt is profane and treats his members like they're idiots. Matt's charts are a crazy collection of indicators and he sells his own VWAP package. I left after about 2 hours.
I hope you are having success with MBox or do you think it's not worth the $$$? I still really like it better than anything I've seen but I'm still looking around.
Ah the VWAP package. The Vwaps are being used as nothing more than moving averages and the start times for the vwaps is highly suspect but that's a whole other discussion. The Vwap indicators (for Ninja) used to be given away free but they have been re-coded by one of the other room members so it's an extra money earner for both of them I guess. They add the Volume profile to that to make it look fancy but they never reference it, just there for show really.
I use Sierra charts so with the zigzag indicator, it is possible to build mWaveChart and mWaveHistogram (volume or delta histogram) similar to mBox although it does not look or feel as "clean".
mBox software does make it easier to set-up and is visually much easier to look at. Whether it's worth over $1k, depends how easy it is to set-up the indicators on the platform you are using and how technically adept you are. Question is, do you want to spend time setting up indicators (maybe coding them or finding them) or developing trading ideas from a concept you feel has potential!
I do find the Mbox useful. All I really use is the mWaveChart and mWaveHistogram (volume and delta). mPace and mCumulativeDelta don't show anything useful in my opinion.
Again, in my opinion, I don't think you can use mBox as a stand-a-lone strategy (kudos to Mike as he seems to make it work for him based upon his YouTube videos). I find it useful to look at what each waves delta and volume is but I use it in conjunction with things like vwap & standard deviation levels as well as areas of interest.
It's a tool that helps you analyse what has happened in the past and helps us form a bias as to what may occur next but as we all know, what may happen has zero regard for what came before.
As a sidenote, despite the room not being for everyone, there have been a few people, whose trading results can be seen on Matts twitter, page, who mange to turn in excellent results, day in and day out. I guess what Matt teaches resonates with their personalities. But as I said, the successes are too few, it can be highly misleading.
Can't comment on the trading room but I have been using Mbox for the past 6 months or so. As Lfx stated the only thing I personally find useful is the MWaveChart with Delta. Rest of it is useless to me. Was it a game changer in my trading results would say no. Is it a helpful tool for what I do, I would say yes. I tend to only take trades after an imbalance push, then get into a trade on the pullback for the second wave. I do watch the cumulative delta on that pullback.
Would I buy it again knowing what I know now, probably not.
I very much agree with you and have had the same experience. That said, I do find the MboxWave indie very helpful and valuable (to me), but echo your thoughts on the combo package of Training and MboxWave / Matt Bowen's trading room
I purchased the grandfather package too and I have been in the room since 2nd February this year. Although the above post is correct, I do think there is a bit more to be said about the trading room.
In the beginning I was also perplexed about the setups that are being taught as a foundation. But as I dug deeper I realized something. Trading is not about using a set of indicators (as most of us hopefully know by this stage). It is mostly about getting over yourself. Your mindset, your pre-conceived ideas etc. What Matt, Mike and the other pros teach in the room is what it takes to become a professional day trader. That is the foundation of the whole apprenticeship. Yes, you read that right, it is an apprenticeship. As in I am going to learn from a master how to develop a certain skill and apply that skill and master it. The basic setup you start off with to learn this skill is just that, basic. But it is done for a very good reason. It teaches you how to read price action, how to read momentum and how to manage risk effectively. Once you master that, you can basically do anything in trading.
Here is the thing that I see over and over in the room though. People cannot get over themselves and just accept the fact that they might have to start again with a very basic way to trade. Without fail they come into the room kicking and screaming and questioning everything. They begrudgingly start the basic setup idea, but every step of the way still fighting it and putting their own biases on it. The people I see that make it are the people who can get over their own ideas of what trading should be and just go with the flow and actually learn to trade. I have not come across another trading room ever that is so interested in making you an independent trader. One that does not need anybody else to trade. Yes I agree, if you look at the ratio of people who have 'made it' in the room it looks relatively small. What people miss though is that they all have one thing in common. They have all gotten over themselves and put trading first, no biases etc.
Once you have this basic setup down and trading it well, there are many options. All the pros in the room trade their own accounts differently. I think this is a testament to the fact that this room is there to teach you a basic way of looking at the market and you can build literally anything on top of that and be successful. Matt covers all the MBox indicators and concepts in the room every day constantly through the day. All you have to do is ask questions and he will happily answer.
You can look at my other posts on this forum. Over the last 4 years or so I have tried many approaches, some almost successful and some a total disaster. I have been in this room for almost three months now and I am happy to say that I have reached consistency already. I pretty much make my nut every day. And this I guess is the end goal, to be a consistent trader that could do this for a living. The only question you have to ask yourself is how far are you willing to go to achieve this. What are you willing to let go of and what are you willing to learn, even though it may seem basic in the beginning.