What is not correct?

That his seminars and trading room are immensely profitable? So what? More power to him and Hubert. They deserve it.

No need to prove a thing, unless you work with him.

Otherwise, PM me yourself if you feel an innate need to defend his honour, or some thing.

LOL.

[bakrob99]

The implication is that he is doing this for the Trading Room revenue - which I do not believe is the case. The guy has traded for over 20 years and loves trading as an activity. Period. He will always be a trader.

What has one (revenue source) got to do with the other?

He makes a considerable amount from both activities.

Trading room revenue provides ample capital to fuel his trading activities. So what? Do I care? Not in the least.

[BlowFish]

Originally Posted by bakrob99 »

The implication is that he is doing this for the Trading Room revenue - which I do not believe is the case.

---Snip---

I wonder what this belief is based on? Just interested from a purely academic point of view. I will always give the benefit of the doubt unless something clashes with my own market beliefs which are based on "truths" I have discovered or verified for myself. Having said that I still keep keep a healthy degree of scepticism untill I can verify things.

You seem pretty adamant and I just wondered what made you feel this way. PM me or ignore my question if you don't feel its appropriate for here.

[bakrob99]

It's pretty simple - I've "watched" him trade for one year ... and I've seen brokerage statements which support my statement,

[tony1d]

I think the book had a lot of valuable information however using his setups purely as discussed in the book yielded poor results. I do use a 3 bar reversal setup but only at key S/R areas like pivots, yest H/L/C and value areas from the MP. I also will not countertrend trade those unless a trend reversal is almost definite and finally i am very careful about trading in the value areas as the locals are scalping you to death in there. Watch the locals test the High and low value ranges looking for takers at the 1/2 hour especially in the mornings if no takers they will typically test the opposite range.

[notouch]

Be realistic people. A trader is by definition someone motivated by money. If he was the charitable type are there not more worthy causes than wannabe traders? Of course he's in it for the money. I don't know and don't care how much profit he makes from his trading but I don't believe anyone would hand out their brokerage statements for other people to inspect.

[jbtrades]

Hubert told everyone in the trading room that his income breakdown is about 50% from the "education business", and 50% from trading. I think Carter's ratio is probably about the same. There is nothing wrong with that, but they are not running trading room to be good samaritans.