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Thanks, Great topic....
Another thing that I would add to the discussion is that I find a few things to be true about trading rooms for me:
(Please note: for me, and IMHO as the market has humbled me on more than one occasion in my short lifetime.)
1. I am not disciplined enough to take the trades when the room is taking a trade.
2. Rooms always seem to be making money when I am not in the room, or so are the claims of the rooms that charge $$$ when asked.
3. Even if you have the discipline to follow the room exactly your order fill will be vastly different than everyone else in the room.
Okay with that all said as you can guess I don't trade in rooms and avoid them like the plague. Wish that the cost of tuition for learning the market was only $4-$6,000, but I guess for each person it is different.
One thing that I am very thankful for is that I am a member of this site Big Mike's Trading and that there are tons of people that are very knowledgeable about just about every type of trading here. When I get to the level where I can ask the right questions I just may start doing so. ;-)
Have a great day. Lastly, for those using rooms to trade where it is working for them; well then if it is working why change. Yes I am saying that trading rooms can be good, just not good for me at this point in my trading career.
p.s. I have belonged to three different trading rooms in the past, with little to no success in the past.
Currently have two rooms that I listen to now off and on, but not for trading, more because I like to get a feel for what others are doing, and market metrics.
Day Trading Radio has a good serious group of futures traders. Most of them are Jigsaw and EminiWatch players. They are also creating innovative products for the Emini SP 500 and futures traders.
Besttradingchatroom.com 7-day trial
Quick 1-2 point trades. 1-5 per day
Most cases notifies you that a trade is going to happen and you get an alert
Most of his trades are accurate and consistent.
Doesn't go on indicator, just reading the market.
You get some idea of what, how the market works and reacts. Questions are always answered.
Free Slack community on #general but not that active.
I want to let other know about a company called Buyside Global and their Trading Room. They advertised on a NinjaTrader Webinar and I liked what they had to offer. I always ask "does this indicator work for Forex". I was told, "it works with everything. Of course, you have to rent the indicator to have access to the room where it is featured. Nevertheless, on the first day I began using the indicator and entered the room, I asked about Forex. All they were trading was Futures. I was told "we don't trade Forex in here. But, we will find someone who trades Forex and have them get in touch with you in how it works." Long story short, I ended up putting a review on the company. Their Trade Room was a bad experience. To their credit, they did refund the money after numerous complaints.
I am paying Al Brooks a $100 a month to be in his trading room and beside the course I find it immensely valuable. His calls on the direction short or long term are uncanny and he explains his rationale. Nothing is blackbox. 2-day FREE https://www.brookspriceaction.com/portal.php?page=9
The following user says Thank You to AndrasNagy for this post:
I certainly agree, there is no better way of learning than from your own mistakes trading live as there are no consequences trading on a demo. In regards to educators, yes, many of them obtain their results off of the simulator. I agree wholeheartedly with Big Mike that 'no trading room can make you profitable.'
