[steve46]

Since most of you will not make money no matter whose "room" you are in I would suggest you rethink what you are doing

If you want someone to simply tell you when to buy and when to sell, any of these rooms will provide essentially the same experience, and that is that you will probably lose money...why?... well most of these folks have a system that works periodically then does not....even the best of them goes through periods of drawdowns...and because most of you have small accounts, even a modest drawdown will knock you out of the game....

Having tried to teach students for a while now I have come to the conclusion that it is rare, to find that combination of a system that fits most students...(simple enough that they can concentrate on just a few setups).....works consistently so that they don't get down on themselves when they go through a losing streak, and yet produces enough profit to encourage them to continue...and of course the final problem is that eventually you still have to learn to do it YOURSELF...because sooner or later the person calling the trades is going to be gone....

I think I have simplified my own system to the point that my students can do this, however I have not found a solution to the "attitude" issues and "lack of committment" that students bring with them to the classes....Clearly people THINK they want to do this, but what I have found is that in the end, when they find out what a grind this business is....they really don't want it...what they want is the money....without having to do what it takes (and it takes a lot) to put themselves in a position to make it.

I do this every day folks...have for years, and I think this is about the most truthful statement you will read about this situation.

Good luck to you all

Steve

[gosu]

Originally Posted by steve46 »

* * *
Clearly people THINK they want to do this, but what I have found is that in the end, when they find out what a grind this business is....they really don't want it...what they want is the money....without having to do what it takes (and it takes a lot) to put themselves in a position to make it.

* * *

Stevie that's about the most sensible thing I've read from your posts. It almost makes up for your calling Corzine a "winner" for blowing up MF Global.

[steve46]

Okay so clearly you have a short term memory problem...you may want to see a physician and get that checked out...

What I said (to paraphrase) is that "winners take risks, while the rest stand around and talk trash"....and here (once again) one can see just how true that is...

Clearly in this instance the gentleman has lost his bet....so by definition he is (for the moment) a loser....on the other hand....he can change that....and for traders this may be an important issue as we are ALL losers at some point when we trade.....the possibility always exists that he will find a way to re-define himself and get back on the right side at some point in the future.

I wish everyone at MFGLOBAL the best of luck and better times ahead.

Steve

[MightyMouse]

[QUOTE=steve46;130908

I think I have simplified my own system to the point that my students can do this, however I have not found a solution to the "attitude" issues and "lack of committment" that students bring with them to the classes....Clearly people THINK they want to do this, but what I have found is that in the end, when they find out what a grind this business is....they really don't want it...what they want is the money....without having to do what it takes (and it takes a lot) to put themselves in a position to make it.

Steve[/QUOTE]

Ultimately, they do not want to do what they have to do to make money when they realize that they can't simply turn the markets into an ATM.

[TheNegotiator]

There is something else which is key here. There are many people in trading who are not profitable not because they just haven't turned the corner, found their niche or got their ego under control. Indeed, these are universal issues for a trader to become successful. However, the many of which I speak are just not capable of EVER making it. Whether that's due to nature or nurture is a different thread . But it doesn't make them useless people in any way. So they need to take their learning period as time to reflect on their own suitability to trading and not just believe that anyone can make it given the right methods.

Part of learning whether your skills are suitable to being a trader is knowing what it actually takes to be successful and knowing what you should be doing. Just trying lots of different methods and them not working for you doesn't make them poor methods. I have mixed feelings on trading rooms. Whilst I feel a good one can reveal what a good trader is looking at, I also think there are guys out there who take advantage of naive and inexperienced noobs. People who really don't know what they're doing themselves and charge a fortune for "the dream" of becoming a great trader. If you do want to be part of a room, or learn from someone then think very carefully before parting with your cash. Speak to the guy or the teacher. Get a trial. If they don't do trials I suggest walking. Don't part with thousands of $$ up front to anyone, ever. EVER. Not even guys with a big reputation. Read reviews(don't just trust them either as they could be written by the owners themselves). Ask about them on forums(all of them). If someone's had a bad experience, you can be sure they'll wanna shoot the company/guy down in the forums!! Lastly, ask yourself really what it is you want to achieve from it and what are the motivations of the company. Nobody can just show you how to trade and that's it, you'll be profitable. It has to come from within, but a good guide can be very useful.

Sorry about the length of that post!

[JetSetTrader]

I have been in a trading room that utilizes market profile in their methodology and do a great job of explain it. It has really helped my trading. Let me know if anyone is interested....You wont be disappointed.

[ckait]

MP is dead none of that stuff works anymore you should still look at a profile but the "MP" trades as used traditionally are garbage and have been for some time now.