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Before you read any further, I'd just like to say that I have no association with this particular trade room, apart from tuning in every day for FREE as a community member. I've also been around long enough and spent enough time in trade rooms to know the good from the bad. I generally dislike vendors and trade rooms.
IMO this trade room is something special, I've never really seen anything like it. Best of all it's free for anyone. No sign ups or "free trials" just free live streaming every day from 8:45am EST via Youtube's new beta streaming service( there's actually a small delay due to Youtube encoding)
The guy who runs it( Vinny) would be one of the best discretionary traders I've seen , he also shares and educates you on all his discretionary strategies in real time, while he's trading . On top of that he runs automated strategies( or bots) that run almost 24/5. He codes everything himself, does daily performance reviews/ optimizes daily and runs it all through Ninja Trader.( These are proprietary and not shared if you want the bots real-time alerts you have to pay for them- I've got no idea the costing here, it's not something I have considered)
What I like is that he doesn't mislead newbie traders down some BS path. He is a firm believer that it takes most people 10,000 hours of screen time before they really become successful( The same applies to any field). He also recommends that starting capital to trade ES should be 25k, with minimum of 8-10k
The room is full of genuine wisdom & funny quirks, along with all the NERD(Never Ending Radical Dude) stuff you would expect from a coder sitting in front of 6 monitors- Sometimes while in a frustrating trade he will take a breather and start playing Battlefield
The target for the room is $1,000,000 p/a, with daily targets of 4k, trading up to 80 contracts with a max draw drawdown of 15k per day( 5% of his account).
I've seen max drawdown get hit around FOMC( I think it's happened once this year), I've also seen him make 14k in a day, last Thursday-
"Free markets work because they allow people to be lucky, thanks to aggressive trial and error, not by giving rewards or incentives for skill. The strategy is, then, to tinker as much as possible and try to collect as many Black Swan opportunities as you can"
The following 18 users say Thank You to Neo1 for this post:
@Neo1 so the room is on youtube and is not a web site? Thanks for the heads up. Not really looking for more things to distract, but never averse to learning something new. Will check it when as the day permits.
mlm
The following 5 users say Thank You to michaelleemoore for this post:
Interesting thank you @Neo1 . A lot of parallels with my own setup and the whole bot in parallel thing of course. He mentioned moving to a paid service and getting off YouTube so I guess this is the taster phase.
Often one wonders why bother with the added revenue stream but its not always just money motivating the younger guys. The hot trading groupies are of course reward unto themselves haha.
Well being more through I was only half joking about the younger guy's motivation.
I know a ~30 ish guy (now) who started a school with some friends and they built up a reputation and influence over hundreds of students. A small fund was born and an in-house team of contract traders launched (students and others).
Student who could not trade successfully but had money to invest and trusted the 'master traders' (or the bot systems) invested money I expect. Emotionally attractive when you know the trading system/people but lack the talent. Can't say if totally straight or dodgy as somewhere in between I guess, its business.
He has however (I have little doubt of this) seen very many countries now for free. Traders invite/pay him him to stay with them, they get a little 'master' advice and he sees the place guided by a local (much better than being a typical tourist).
Then there is the value of the brand. Of course guys like that who don't really have 'a number' or have a really big one do real-estate or anything that makes money in parallel.
Yeah it's all for free on Youtube, they now run a live streaming service( it's in beta).
I haven't been listening much in the mornings since I'm busy with my own trading. If you get the chance it's probably best to check it out after 2pm EST (Vinny doesn't usually start his discretionary trading until around 2pm EST), he lets his bots trade in the morning, and gets a feel for how the market is moving based on their decisions. Since he's done nothing all day, he comes in "mentally" fresh around 2pm, when other traders are starting to tire out.
"Free markets work because they allow people to be lucky, thanks to aggressive trial and error, not by giving rewards or incentives for skill. The strategy is, then, to tinker as much as possible and try to collect as many Black Swan opportunities as you can"
The following 4 users say Thank You to Neo1 for this post:
Yeah, I'm not sure what his future plans are( I'm not sure if he even knows!). The youtube stream can be 30s delayed at times, and I guess people like to try and piggyback his trades, so he's getting requests for a low latency stream.
I think one of his ideas was to build up a community of traders who code, he tries to focus alot around creating your own "robotic" strategy, as opposed to piggybacking his.
haha I guess some traders just like showing off aswell. At the end of the day, trading can also be pretty boring, and after awhile making money every day sitting in front of a screen is not as rewarding as it once seemed.
All I can say is check the room out and see for yourself, it's a different/fun experience.
"Free markets work because they allow people to be lucky, thanks to aggressive trial and error, not by giving rewards or incentives for skill. The strategy is, then, to tinker as much as possible and try to collect as many Black Swan opportunities as you can"
The following 5 users say Thank You to Neo1 for this post:
He trades ABCD measured moves off 618s and 786s, which is basically a Gartley pattern( Although I have never heard any reference to Gartley). He also uses longer term wedge based formations to determine potentially reversal points.
It's all very well trading abcxyz786s etc, however, what's interesting is the way he executes/managers & profits from trades. He will successfully add/scale/flip and make decisions on the fly based on intuition, all the things that you can't really teach and have to learn for yourself. This gives his room some unique value and one of the reasons I gave it a mention in here.
Also, where else are you going to live stream some futures trader shooting from 1mil p/a, commentating you through all his trades, for free?
*At the end of the day I'm just some random dude who was fortunate enough to stumble upon it. The main focus is supposed to be around building a community of traders and coders, the discretionary trading is just a part of it.
"Free markets work because they allow people to be lucky, thanks to aggressive trial and error, not by giving rewards or incentives for skill. The strategy is, then, to tinker as much as possible and try to collect as many Black Swan opportunities as you can"
The following 8 users say Thank You to Neo1 for this post:
do real-estate or anything that makes money in parallel.