MPETrader

thanks for correcting me, but your simplistic response just shows why so many people fail at trading. They take what is told to them verbatim, and repeat it like they have some actual knowledge. the truth is, trades at the bid/offer have nothing to do with "Buying and Selling". For you don't know what orders are closing and opening orders...some buying "is actually shorts covering and vica versa". also markets are huge, and institutions do things like hedge, etc. So "buying", can be just hedging a short position. Even the scenarios here are simplistic. There are quant algorithms, arbitrage, etc...all which appear the same way but are not the same trade... so to say that you can read the bid offer data and interpret it as to buyers and sellers is just ridiculous. But again it makes for a great sales pitch. As for the person that says Billy rarely loses...Billy first of all scales in...so of course he will be correct the majority of the time. But the issue is when he loses, it is so enourmous that it tends to wipe out gains of several days. Also as I said, i have friends that sat with him for extended periods of time LIVE, and he never made a dime... That is the beauty of running a room. nobody knows where you are getting filled, getting out, etc. If you could guarantee a fill at any price, trading would be a sinch. And that is what these con artists rely on. They can make claims of fills, and sell you that they are making money real easy. I don't get anything out of being critical, just I don't want to see others fall for the same trap, and wasted time/money I and many of people I know have... All these trading rooms are all the same...

Well, just for reference...AlleyB who posted earlier...is Alex Benjamin who has recently partnered with the IOAMT room. So perhaps when he wrote his statement he was not financially motivated, but he most certainly is now...and who knows what is actual relationship was when he wrote that. Surprising (not really), I still don't see anyone saying that they are making money taking Billy's trades... -MPETrader

"He seems to have a lot of knowledge about the auction market process."... I can tell you about the auction process...There are buyers and sellers. More buyers move the market up, more sellers move the market down. Honestly there is nothing more about it than that. I am just trying to be helpful and honest. At the end you have to make your own decision, but if the guy has a lot of bad habits, etc I don't know what you think you could learn from him. I have seen too many people waste good time (and money) with him... Has anyone else been in his room? Has anyone made money following his trades, or his "knowledge about the auction market process"? Again, the whole auction process thing is all part of his sales pitch, and I admit it sounds good...but take it from me, he is just another guy selling a room... Good luck whatever you decide... -MPETrader

I have been a member of the IOAMT room in the past (I am no longer in there). I have been through many trading approaches of his. I have come to 1 conclusion. He is not a very profitable trader. Most people in the room usually claim they are making money, but that is because nobody wants to admit how poorly they are doing. Billy is a good salesman. That is about all he is good at. His Money management involves scaling in, which is both an irresponsible way to trade, especially for new traders. Scaling in is good for someone teaching a room, because it can make them appear right more often than wrong, but it can be the source of blowing accounts, etc. He is also has a high ego, tries to make you believe he has all the answers, and can lead you down many wrong paths. Every other day, he has a new "idea" that he uses for a month or so, before he moves on to the next best thing. He is also unclear in the room about entries, how he exits (when he is filled on multiple levels), and he sometimes claims he gets out of trades that you know is almost impossible. Honestly I think traders should stay away from this room. If you must us a trading room. Use someone with discipline, someone that sticks to their entries and exits, and someone that is clear always. One other note, I know traders that sat next to him live, only to see him churn his account, never making any money over long periods of time. Again he is a good salesman, but ask anyone in detail. Does anyone know he makes money trading? Does anyone make consistant money following his trades? I invite responses... -MPETrader