beyondMP

He now seems to be setting the next round of suckers. He is starting to talk up "Hybrid Trading". Don't be surprised if he starts to offer the next round of training featuring it.

I had a friend who bought this system. As I recall, he paid @ $500 for it. After months of trying to make it work he gave up and moved on. Even with the author's help he ended up losing. After the fact everything was explained, much like the author's comments above but real time it didn't work. My opinion is, if it was as good as the author says....the price should be going up, instead of going down!!!

As a "grandfathered" member of his room I can offer my perspective: 1. JP comes across as a very likeable guy 2. He teaches his own trade setups and basic MP 3. After carefully following his trades you will be breakeven at best and more than likely loser, he refuses to prove his own trading profitability 4. He allows some members to pray upon other members A. One past member and moderator is in prison for running a "ponzi" scheme B. Another past moderator is currently being prosecuted by the SEC for running a "ponzi" scheme C. Several other members sell some sort of "mental" or psychological training, one of which even had a competing room using an entirely "bogus" method that was endorsed by the member currently in prison D. Another member currently has a competing room that resells his method again to other members- you pay JP to teach you then you can pay the other past member to teach you again E. A survey conducted by members to members reported less than 25% said they were profitable(this of course is not verified and relies on members reporting "truthfully") F. There seems to be an almost "cult" like following among some of his members, until they run out of money, of course It is obvious he doesn't make money trading but does earn a comfortable living from his training. If you are looking for some MP training and can protect yourself from the other "pitfalls" that can occur in his room, it might be for you.

There are two quotes that come to mind when deciding to spend hard earned cash on training.... The first is "Self praise is no praise." If a trainer comes with a recommendations and objective observations from someone you personally know and whose judgment you respect then you can make a better "informed" decision. The second is "Trust but verify." There should be hard evidence other than the trainer's own words to support their "track record" claims. This can be accomplished in a number of ways, from verified and audited trading statements to live trading observations with full disclosure in advance and no after the fact claims. I am not trying to diminish EL's reputation, only offering a few basic "due diligence" suggestions to anyone considering sending money to any trainer or mentor.

Seems like a lot of money to pay to someone who hasn't called a single trade live and only marks up charts after the fact.

One of the major reasons traders use a trading platform like NT is it's ability to place bracket orders and to automate multi-step strategies. It is when using these strategies, the flaw comes into play. Using the ES, which has a tick value of $12.50; a 20 tick stop equals $250. The problem comes into play on profit targets. These are sent out as Stop Limit orders. Because, the Stop side of the order is a mandatory 20 ticks away from the Limit side of the order....when the markets hits the Limit price, the 20 tick offset has the effect of turning the Limit order into a market order. This causes the Limit order to be filled at the best price available (within those 20 ticks). This can cause a loss of a tick or two on a regular basis....Or, an extra $12.50-25.00 per contract traded. This can add substantially to the effective cost of using NT. To be fair, you can change this offset after the order is submitted, but this is cumbersome and easy to forget to do in the "heat of trading." Remember, the reason you are paying NT is to automate these functions and make trading less stressful and reduce the steps of placing multiple orders. You can take the position that slippage is inevitable. And, this is exactly the justification NT states...however, I know from my experience-and the way I trade- the market will come back and fill me at my Limit price, thus, achieving my full profit target. There are traders that are happy to get filled at the "best price" but there others that trade with a greater precision and want the option to determine their own trading fate.

I'm absolutely sure. as a matter of fact NT tries to explain this limitation(flaw) as a benefit to the trader. I suppose it is to some...but, they fail to explain the added it costs it can impose to the trader's profitability.

This flaw is built in NT, it occurs regardless of data feed. Please understand, NT might be fine for some. If precise Stop Limit orders aren't important to you than NT might be ok. If precision is important than you will have to check with your broker, to find, which platform has the features you need. As for me, I'll probably be switching to Sierra Charts when they can interface with my broker(which has an ETA of the end of the month). I would not have even started this information campaign if Ray(the #1 guy at NT) hadn't lead me to believe this flaw would be fixed in NT7. I kept using NT for the past 1 1/2 years to show my support for his willingness to fix the flaw.

This major flaw imposes a mandatory 20 tick offset for all Stop Limit orders submitted thru an ATM. Consequently, if your profit target is less than 20 ticks away from entry, it is possible for a winner to turn into a loser in highly volatile and thinly traded market. This flaw has the effect of turning those Stop Limit orders into market orders. In normal trading this can cause the trader to lose a tick or two on a very regular basis. This creates a "hidden" cost for using NT that can be many times the monthly fees.

Not only hasn't this bug been fixed, The other forum banned me and deleted the threads regarding this issue.

From your further explanation, I see your point and agree Tactics Trading is the way to go.

I would say that "Tactics Trading" is a bit ambiguous, for this approach. "Following", "Trend Direction" or even "EFBO- Enter Following the Trend Only" might be more appropriate.

The question by the OP, is actually the question every trader must answer. The answer is also different for equities or derivatives. The reason price moves is because of a difference between buying and selling in the micro and overall sentiment in the macro. In order to make sense out of price movement, in the eminis (derivatives), you need to know: 1. the difference of buying volume to selling volume-micro 2. the correlation of that difference to overall volume-micro 3. the overall position and movement of the market in general and its relationship to the instrument traded-macro (all of these are measurable, verifiable and repeatable) For individual stocks, in addition to above, you have to have a method of measuring and verifying the overall sentiment and opinion of the issue's future fundamentals and news info. Since, the volume of buying and selling in stocks is confused and obfuscated by the specialists and market makers and measuring sentiment and opinion is almost impossible; and, as the eminis trade in an enviroment that more closely resembles a "free market" you can deduce that they are actually easier to trade Value is a perception, everyone has their own idea of what something is worth, thus, it is of little use, if any. In terms of MP, it is only the statistical representation of where price has been. Sometimes it works and other times it doesn't. But, the above definition always works.

They do contradict each other if you are looking at them in the same moment of time reference. However, the observation of high volume representing of acceptance is an after the fact observation. Where the increasing of volume during a trend is a real time observation.

If you are using an ATM strategy in Ninja Trader it sets a Stop Limit order as folows: it places the stop side of the order at the price you asked for-in this case breakeven+1...it places the limit side of the order 20 ticks away in this case breakeven-19. This essentially makes this a market order that can be filled anywhere from your price to your price minus 20 ticks. In a fast moving market this can be disastrous, as you found out. I have complained about this major flaw in NT for sometime and Ray has posted(in another forum) that this will be corrected in NT7. (it is important to remember that is the way NT handles ATM generated Stop/Limit orders on Globex, as some other exchanges do not allow Stop/Limit orders at all) This only applies to a Stop/Limit generated by an ATM strategy, if you manually enter a Stop/Limit order you can select the offset you want in the preference window on the DOM.