What
do I get when I become a Member?You will get
full and uncensored access to the Live Trading Room, nothing held
back.
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Ask as many questions as you like
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Hear us explain why we are taking the trades
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See the trades being managed
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Get the entries, stops, profit targets and exits as the
trades are happening.
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Most traders will never be consistently
profitable...they will lose money. You need every edge you
can get to be profitable in the long run. Having a mentor
who actually trades for a living goes a long way to helping
you achieve that...most of the supertraders got their start
with a successful mentor. They're rare and priceless, and
most don't want to waste their valuable trading time
explaining things to newbies...but that's what we're
offering in the Live Trading Room. You can watch real
traders do it and ask as many questions as you like.
What
hours is the room open?
From 8am EST most weekdays. Watch the forum for announcements, such as when the room opens.
What
Markets do you Trade?
I personally trade Crude Oil, the currencies (EuroFX, Australian Dollar, Canadian Dollar, British Pound, Swiss Franc and Yen), Gold, and the E-Mini Russell -- but recently swapped the E-Mini S&P for the E-Mini Russell at the request of the Trading Room. Since I can't watch 10 charts, I usually have Crude Oil, the EuroFX, Gold and the E-Mini S&P charts up more often. I am willing to watch any other market others suggest -- if there is enough interest. Will
I get your entries, profit targets and exits?
Yes, absolutely.
Will I be able
to see your actual charts?
Only Members will get to see charts.
What kind of orders do you use?
I use two types. I use Limit Orders for all entries and Profit Targets unless I clearly say otherwise. I also use Stop-Market Orders for my Protective Stops. I sometimes do move what began as a Protective Stop up or down thereby turning it into a Trailing Stop, so be aware of that difference. I strongly suggest that you determine whether your order-entry platform uses Stop Market or Stop Limit Orders.
What are your standard Profit Targets and Protective Stops?
On a trade-by-trade basis, those will depend on the market being traded and it's volatility at the time. However, unless I state differently, my standard Profit Targets and Protective Stops begin as:
All Currencies: 10-tick Profit Target & 10-tick Protective Stop
Crude Oil: 20-tick Profit Target & 20-tick Protective Stop
E-Mini Russell: 10-tick Profit Target & 10-tick Protective Stop
E-Mini Dow: 20-tick Profit Target & 20-tick Protective Stop
What is your general approach to trading?
First, risk management, both before a trade and after Entry. I usually trade retracements in the direction of the overall trend but sometimes will initiate a trade on a break-out. I use Pivots, support and resistance levels, Fibonnacci Levels and price patterns as well as a momentum oscillator.
How long do you trade each day?
I trade currencies during the American Session beginning at 8:00 a.m. I add Crude Oil at 9:00 a.m. and Stock Indexes at 9:30 a.m. I trade until my Daily Profit Target, per contract, has been reached or until 11:00 a.m. -- whichever comes first.
When I trade the Overnight/European Session, those hours are different.
What is your Daily Profit Target?
$200-$300 per contract. If the markets, or any of them, are really volatile and giving great trades, I will continue trading for a time but will also shorten my trading week accordingly. If a trader can consistently make $200-$300 per contract daily, then he/she can build-up an account and earn a very comfortable living.
What size account do you recommend?
I don't
recommend any specific size account for anyone but, from my own experience,
I have found that $5,000 is the safest minimum account size most successful
people trade with; and, for a $5,000 account, I would trade a maximum 1-lot
each for one currency, crude oil or stock index trade. Obviously your chance
of success is better having a $10,000 minimum account with the same 1-lot
each for all currency, crude oil and stock index trades.
I know of some people who claim to trade with only a $2,000 or $2,500
account, but the lowest day trading margins for currencies and stock indexes
I know of are $400-$500 each and crude oil is currently $1,000. So even
using those, a trade in both one single currency and crude oil would be
almost impossible with a $2,000 or $2,500 account.
What if I have a question for you while the American Session is ongoing?
You can type any question(s) into the chat program and the Admin will handle them. If time allows, I will try to answer your question(s) during the session when trades slow down.
How do I access the room?
Just click the button below and we'll send you the url, login information and the room recaps.
To become a member, fill in the form to the right and get added to the waiting list!
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