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namstrader

BalancedTrader

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Is anyone familiar with Frank Butera and Balancetrader.com? It seems like this is the only Market Profile chatroom out there that I am aware of. I have been listening to his chatroom for a few days and I like very much his style and understanding of MP. I would be very interested in hearing from others that might be familiar with him so that I can feel more comfortable joining his chatroom or if it is not so useful after all, from another's perspective. Thanks!

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Tries to get a position on that is lo or hi of day using tails, VAH, VAL and POC, and then scales out taking profits at logical spots. Teaches it over a few months live trading. Wait until he does a trial week, but sign up as soon as you see its for you as he fills his spots before the week is out.

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namstrader

 

First it is BalanceTrader at http://www.balancetrader.com

 

I have been a member for a month now and can highly recommend the site and Frank Butera. The method takes a few weeks to fully understand and implement, if you are new to Market Profile, and is well worth the effort. Frank is very honest and straight forward and is the only trading strategy vendor that I know of that makes far more money from trading his system than from the nominal fee he charges for his lesson series and to attend his room. It takes more than a couple of days in his chat room to appreciate his method and level of skill. He only trades low risk/high reward setups, so trades are few compared to other systems, therefore more time is required to learn the system.

 

Frank is a devotee of Dalton ("Mind Over Markets') and has taken Dalton's theory a step further by putting it into practice with his own trading techniques. Using Frank's method you will be able to get the most out of MP, which in my opinion is the only way to trade. Trade the trends, avoid the chop. Could not be easier.

 

scottrsl

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momentom

 

He uses YM only....which I switched to from ER2 to learn his system. I will be sticking with YM for reasons he gives in room.

 

Also, he gives Outlook for coming day, based on YM profile, so it is best to stick with that IMO.

 

Further, he makes trade calls for entry/exit zones based on YM, so....

 

scottrsl

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I signed up and also found the materials good. I'm not put off by any "advertising" if that is what it is, if Balanced Trader speaks well for itself that's all that interests me. However, I think what you are seeing is an enthusiastic customer spreading the good news.

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I signed up and also found the materials good. I'm not put off by any "advertising" if that is what it is, if Balanced Trader speaks well for itself that's all that interests me. However, I think what you are seeing is an enthusiastic customer spreading the good news.

 

I agree, however, as stated earlier, this is unfortunately a commonly used tactic by unscrupulous marketers.

 

Too bad people can't just be honest anymore without being suspected of a hidden agenda.

 

 

That's just the nature of the beast I guess.

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Update-

 

Frank's been tremendously helpful. He seems like a good guy to me.

 

As far as I can tell he's a straight shooter and he has shown integrity in the times we have talked.

 

I try not to recommend anything to anyone unless I have made a good conclusion....and he gets a green light from me, for what its worth.

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Frank seems to have changed his timing methodology recently. I know many like him here. Anyone who has recently taken the course or been to his chat room can comment on whether he is successful recently.

Has he stopped posting his daily trades on his websites I could not find any of his trades since July 07.

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Can anyone comment on Balanced Trader? Has anyone been involved as of late?

Thanks.

 

He is doing a free webinar tomorrow with Ninja you could evaluate for yourself.

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Why not go to his web site and email him with your questions and request a link to his recent web cast that was recorded. Be clear on what you are looking for and read the material available on his web site to see if what is available suits your needs.

I have found Frank very generous and helpful in my journey to be a trader

cheers

Michael B

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Sorry I have not visited this thread for a while.

 

I did take Frank's course recently. It is very good. I have not completed it fully. But I am impressed with the content. Cleared many of my doubts. As the above poster mentioned, Frank is very generous and is very helpful.

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FWIW I buy the odd course particularly when they are inexpensive (as Frank's is).

 

The material is sound and provides something you will be lacking when you finish studying the dalton market profile books - a fairly simple approach to trading with Market Profile.

 

Although it is not how I trade, I would recommend it to someone learning to trade and/or learning about trading methods.

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Hi Kiwi,

Besides Frank's material ,using the MP for structure of the market,

would you , could you if possible point me in a direction that I may explore for actual market entry , the trigger, in the area's identified by the BT material .

Thanks

Michael B

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mdtmn,

 

Some might prefer to take a small position at the likely turning points, perhaps adding on strength. I think that's franks own approach.

 

I tend to prefer test and retest with lower volume. The sort of price action stuff you see here. You could enter at the retest or you could enter when price starts to move away indicating strength.

 

Here's an example:

:hmmmm:

pa.png.fdd2cdf80b5b547dc5d4565ece7b2bd3.png

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