[jthanki]

I got into trading 2 years a ago without much success untill I came across IOAMT site and Bill. He is finest trader bar none. From my experince if you sign up and join Bill's chat room do not trade for atleast 6 months but try and learn his methods. For first two months just watch him after that open a sim account and take trades that Bill takes and keep a detail journal of your trades for next two months.

From this experince you will find if his style of trading suits your personality. For Next two months try and take trades that you feel comfortable with and develope your own strategies and follow them without hesitation. Again keep detail log of your trade such as why you entered into a trade, why you exited a trade, was it profitable.

Once you are consistantly profitable with your sim account then and only then go live. This has been my journey and now I don't depend on Bill's call but rather I use his calls as a confermation. I also am very selective in when I take trades and I stick to my strategies. I don't take more than 4-5 trades per day where as Bill will have 10- 12 trades per day or more.

Trading is very personal and unless we all have same emotional make-up and same amount of expereince, same amount of funding, it will always be hard to trade like a Bill.

All I would suggest is learn from Bill, find out what makes you tick, work out a detail plan and follow the plan.

[Minetoo]

jthanki, I have to disagree with you. Sim trading someone else's call for at least six whole months would be complete torture for me. There is absolutely no substitute for live trading real money in a real account. Real losses will rapidly sharpen your senses, focus your thinking and (hopefully) teach you critical money management skills necessary for survival in this harsh business. Pretend success on a simulator would set you up for monumental challenges when dealing with the emotional component of live trading.
The fact that it worked this way for you is exceptional.
Moreover, cherry picking trades instead of just taking all your setups (assuming the method is proven and valid) is a recipe for disaster.

[jthanki]

Minetoo:

Once I developed my own strategies then I traded them on sim for more than 2 months and I tracked my trades in great detail. Once I was comfortable with them then I moved to live trading and have stuck to them.

Initially I did not have consistent strategies and was not using sim trading as I would with live account. Once I developed my strategies I traded on sim as if it was a live account. I wanted it to be as accurate as possible. During the sim phase of my trading I refined the entry and exit strategies developed optimum time to trade. This helped me take emotions out of my trading.

Now I focus on set-ups and take every trade that meets my strategies. I also do lot of home work prior to market opening and have very good understanding of what trades I want to enter in to and do adjust as market evolves during the day.

If are going to use sim then you must be honest with it and trade like you would as if it is live account.

You may not agree with my journey but this is what has worked for me.

[Minetoo]

jthanki,
your diligence is commendable. We may disagree on method but the only metric that counts is $ucce$$.

[Marsupilami]

Originally Posted by jthanki »

I got into trading 2 years a ago without much success untill I came across IOAMT site and Bill. He is finest trader bar none. From my experince if you sign up and join Bill's chat room do not trade for atleast 6 months but try and learn his methods. For first two months just watch him after that open a sim account and take trades that Bill takes and keep a detail journal of your trades for next two months.

Hi jthanki, thanks for the info. Do you find that Bill is able to teach his setups/methodology well so that one could reproduce his trades after practicing ? I have often heard that while he is a good trader, his style of trading is quite discretionary and hence it is hard to become a profitable trader by following him.

Thanks.

[jthanki]

If you read my previous tread. Bill is very good teacher but unless you have his expereince, his emotional control, his account size and are willing to trade exactly like him then you will do ok.

I could not trade like him because of my own emotinal limitations. I can only trade within my account size and emotional control.

He will treach you how to read the dual auctation market and rest is up to you how you can fit his method in your trading.

It all boils down to trust. Most traders bring baggage from previous trading expirences.

[mjp]

Interesting discussions. No one has mentioned anything about Alexander. Anyone have any experience with his room/teaching style, etc?