JPJTrading. Any thoughts?

[marketguy 11]

Hi. This is first post at TL. I have only read and enjoyed this site in the past. I am getting more and more interested in MP and am looking for a mentor/teacher.

 

Has anyone here been studying with JP? Does anyone trade with him regularly?

 

Any thoughts and opinions would be welcomed. Specifically, how successful is he as a trader? (their site says he is "amazing") How successful is he in teaching his methods to other traders? What kind of guy is he? How's the vibe of the room?

 

It's a rather expensive outlay so I'd love some feedback.

 

Thanks,

 

Bryan

[bh_trade 10]

I am in my 2nd month in JP's room. Without a doubt the man is an exceptional trader. I'm not sure I would use the word amazing, but he is very good. Perhaps the most impressive thing about JP is his discipline, he trades the same way each time, which is something I clearly struggle with.

 

You will learn several market profile setups, and several that have nothing to do with market profile. Since there are over 200 members in the room on any given day, you will often see many traders posting many different trades, and oddly enough, there are many times when some members are short while others are long, even when both sides trade legit market profile setups.

 

In a nutshell, JP is giving me a different way of looking at the markets. Will I trade every setup? No. When in a trade will I manage it the same way as JP? No. Would I be better off if I was able to answer yes to both of those questions? Yes.

 

But the fact remains that I can only take the setups that fit my personality and manage them according to my own style. I suspect most other room members would agree.

 

 

Hi. This is first post at TL. I have only read and enjoyed this site in the past. I am getting more and more interested in MP and am looking for a mentor/teacher.

 

Has anyone here been studying with JP? Does anyone trade with him regularly?

 

Any thoughts and opinions would be welcomed. Specifically, how successful is he as a trader? (their site says he is "amazing") How successful is he in teaching his methods to other traders? What kind of guy is he? How's the vibe of the room?

 

It's a rather expensive outlay so I'd love some feedback.

 

Thanks,

 

Bryan

[marketguy 11]

Thanks BH,

I appreciate your response. Gaining the good habits of an exceptional and disciplined trader takes time and confidence. I am so not there yet myself. Learning from someone with those qualities is as important as their successful methodology.

 

Could you please answer a few more questions.

1. What percentage of the trades are winners for him?

2. What kind of stops are utilized?

3. What kind of guy is he? Is he he someone you enjoy spending your day with?

4. Is he a good teacher?

5. Is the room worth the money and do you see yourself in it for the long haul?

6. How well are you picking up his methods (this early on) Are you making consistent money with his methods?

 

Thanks.

[OAC 10]

Hi. This is first post at TL. I have only read and enjoyed this site in the past. I am getting more and more interested in MP and am looking for a mentor/teacher.

 

Has anyone here been studying with JP? Does anyone trade with him regularly?

 

Any thoughts and opinions would be welcomed. Specifically, how successful is he as a trader? (their site says he is "amazing") How successful is he in teaching his methods to other traders? What kind of guy is he? How's the vibe of the room?

 

It's a rather expensive outlay so I'd love some feedback.

 

Thanks,

 

Bryan

 

I know someone who has experience with his room. Not recommended.

[bh_trade 10]

[

Could you please answer a few more questions.

1. What percentage of the trades are winners for him?

2. What kind of stops are utilized?

3. What kind of guy is he? Is he he someone you enjoy spending your day with?

4. Is he a good teacher?

5. Is the room worth the money and do you see yourself in it for the long haul?

6. How well are you picking up his methods (this early on) Are you making consistent money with his methods?

 

 

1. I have not tracked his winning %, and I know he doesn't either because during his free trial several people asked that question. If I had to guess, I would say the trades he takes are at least 60% winners, maybe a little better than that.

 

2. Typically 1-2 points

 

3. Decent guy, former floor trader and voice sounds like it.

 

4. I think so, but there are several veterans of his style in the room that assist in answering questions also.

 

5. Again, I think so or I wouldn't have signed up for 2nd month. In it for long haul? After 3 paid months the room is free for life so unless something drastic happens in the next month I plan on paying my 3rd installment and becoming a lifetime member.

 

6. I am working hard to take each setup without bias or hesitation and to then manage them with discipline (which again I struggle with), but much easier said than done. For example, last week, I took a long setup that relatively quickly went $10 in my favor. JP of course was scaling out the entire way up and had most of his profits locked in. I had a technical level I *thought* the market would get to but it missed by $1 and I closed out the trade for a modest $2 profit after riding it back down to under break-even. JP would never have let that happen, he probably had a few pieces left that he scratched on the way back down to his entry price, but the majority of his profits were locked in.

 

 

The importance of discipline without bias cannot be overstated. I know that is the true holy grail of trading, but I have never completely gotten there.

[marketguy 11]

Thanks so much for your honest and sincere reply and also taking the time to help a fellow trade.

 

Much good fortune.

 

Bryan

[OAC 10]

Thanks so much for your honest and sincere reply and also taking the time to help a fellow trade.

 

Much good fortune.

 

Bryan

 

Jpjtrading room will give you some good ideas that you can use to mold into your own techniques, so will many of the posts on this site that are available for free.

Jp has a Kamikaze style of entering trades that practically none of his students can duplicate. He only uses mental stops.

[nycdweller 10]

Typically traders that have a Kamikaze style of entering trades and don't use stops have deep pockets.

 

Jpjtrading room will give you some good ideas that you can use to mold into your own techniques, so will many of the posts on this site that are available for free.

Jp has a Kamikaze style of entering trades that practically none of his students can duplicate. He only uses mental stops.

[nycdweller 10]

I just checked out jpjtrading.com and see his monthly subscription is $400/month. This seems rather high considering it doesn't include one-on-one training.

[marketguy 11]

I appreciate the replies. I think I will learn all I can learn here (for free) and finally finish Mind Over Markets before considering reaching out in that way.

 

For clarification, while JP does charge $400 a month, after 3 months you get the room for free, for the life of the room.

 

Bryan

[alleyb 10]

my 2 cents worth and being whom I am I think that I am qualified to comment on JPJ even though I do not know the Gentleman personally but I have a respect for what he is doing based entirely from feedback that I have received from some of his students. Frankly the cost of attending JPJ is minimal especially as it is a life time support. The issue is the noise/chatter that the attendees create. If you can discern the wood for the trees and block this noise out then the teaching materials that JPJ has and promotes are worth every bit the cost. If you can learn even a simplistic setup from him then the cost is minimal. His style is not to everyone's liking but then why would you expect that. It is what it is and the issue is perhaps that his focus is narrow in that he only talks the ES. Curious when you consider that he was a bond local orignally. As for style surely the whole point about any learning is that you take what you can from the teacher and take other information from elsewhere to then marry it up and create something that is personal. The point being is not to create a mini-me but to create something that is your own. As Steidlmayer wrote and forgive me if I paraphrase and/or truncate a little: I quote from the original CBOT handbook from 1984.(PS I am on the hunt for any other MP documentation that anyone might have for the purpose of archiving it - I already have the largest collection of MP material both ancient and modern in one place but would be obliged if anyone can help with additional material) - I quote from the manual that was the forerunner to the CBOT Handbook which you can currently download from the CBOT website

"Market understanding time you plus your trading method equals results"

"In order to recognize opportunity, to respond appropriately and to make timely adjustments as you go, you need to know what the market is doing and under what conditions. The difference between knowing and guessing is vital." "When this market understanding is combined with a personal trading method, traders anywhere in the world have an opportunity to achieve superior results." . lastly if you think that $1200 is expensive then perhaps you should check out how much a college education costs and do the maths. Consider that if you subscribe how many trades you would have to do to recoup the cost. Trading is a business and one should look at tiome and money in vs reward out. Now I have little interest in promoting anyone but me but frankly I think that JPJ offers outstanding value

[OAC 10]

. Now I have little interest in promoting anyone but me but frankly I think that JPJ offers outstanding value

 

Just curious, are you a vendor yourself ? In a previous post, you said you wrote a chapter for John Carter's book. If you don't charge money for knowledge, I would welcome you , as many here would agree, to share more of your stuff on here. My 2 cents.

[marketguy 11]

AllyB,

Thanks so much for taking the time to address this subject. All points well taken. Bye the way, I am just about ready to sit down and watch your 2 CBOT videos.

 

Take care,

 

Bryan

[alleyb 10]

OAC. Vendor is not a catorgary that I would place myself in persee. I trade for a living first and foremost but I also run a subscription member financial portal website which specializes in MP. From my website I teach/educate on Market Profile and unlike others I will give you not just the entries but the exits as well including how to originate both short, medium and long term strategies. I have been doing MP since 1984 when I first met Pete and am considered by some to be an expert on the subject. I offer my members on-going support and although I place a huge amount into the public domain I also consider that it is only right and proper that as an expert I should occassionally be remunerated for my expertise and time. The difference between someone like JPJ and myself is that he offers a narrow based teaching on a single product whereas I cover the whole spectrum. Free is great and I urge all to take as much advantage of free when it is available but I have found that free means a slow track. One might eventually arrive in the instant gratification world that we live in that properly researched paid education is not just a pre-requiste but also a fast track way to learn. After all I elaborate on the my earlier post if you could have the opportunity for total freedom presented to you together with untold riches would you not grab it with both hands therefore someone like JPJ is a cost effective way of gaining that expertise. as for John Carter and Chapter 17 it is a fact that I wrote the chapter just as I did the CBOT MP101 and MP102 videos which now are only available from my website to all comers. Some things in life are free but other things must be paid for. I don't feel I need to defend myself in anyway for my own track record goes before me with absolutely full disclosure and archives and I still have friends from the 1980s who continue to state that they are amazed at the accuracy that I can deliver on a consistent basis. Unfortunately I have not arrived in life (post 2 ex wives and 2 expensive Daughters ) at a stage whereby I can be philanthropic but to date all of either my students/members have found that I give good value for money and that is the measure by which all things are evaluated.

[alleyb 10]

Bryan thanks for your kind words re the Videos and I hope that if you have any questions then please drop me a line

[marketguy 11]

Will do. Nice to connect with you.

 

Bryan

[OAC 10]

A couple days ago, I came across the webpage of a really successful vendor, here is what it said:

 

 

Dear Interested Trader,

Thanks for your interest in XXX Trading. In 2005, I became a Registered Investment Advisor (RIA), "retired" the website and currently manage money professionally. Therefore, I no longer operate an advisory service. Please review my Books to learn more about XXX Trading. If you have further questions please feel free to contact me at my email address, XXXTraders@XXXTrader.com.

 

Best Regards,

 

XXX :cheers:

[nickm001 10]

I am in my second month of training at JPJTrading. In the begining I was just as skeptical about paying for chat room. I made a decision from the beginning that my risk will be 1 month fee, and if by the end of that month I can not make enough profit for next month tuition, I will not continue with JP.

At the end of October I prepaid next 2 months from the money I earned during training. Methods that JP teaches may not be for everyone, because it really doesn't matter what he teaches if YOU cannot adopt and trade his setups.

I also want to correct few mis-information from earlier posts... "JP does not use hard stops".... true, but he DOES have stop levels for his trades and watches price action around them. I have not seen him "slip" more then 1-2 ticks from previously announced stop levels.

"kamikaze trades" - not sure what it really means, but trade setups are known well in advance, and are not emotional entries. Most of the entries do not feel easy to do, but then again nobody said that trading was easy. The best trades fly in the face of "common sense".

[OAC 10]

lastly if you think that $1200 is expensive then perhaps you should check out how much a college education costs and do the maths. Consider that if you subscribe how many trades you would have to do to recoup the cost. Trading is a business and one should look at tiome and money in vs reward out.

 

Anyone looking for an alternative to JPJ should also check out Frank Butera at http://www.BalanceTrader.com. A lifetime membership is only $200. We all agreed nobody is going to hand it to you in a silver platter(although JPJ did say he may hand you a fish ) and you have to mold it to make it work for you anyway.

I have been there, he is decent.

[glenbee 10]

Just thought I'd add my 2 cents to this thread. I paid the $400 to enroll in JP's class last month and found it so rewarding that I didn't hesitate to pay the additional $800 for lifetime membership access to his chat room and member group materials. Prior to enrolling I had read the CBOT MP manual and I had read and re-read Dalton's Mind Over Markets at least three times. So I felt I was going into JPs class with a farily well grounded understanding of market auction theory and MP concepts. However, it became apparent from the get go that JP's objective is to take his students beyond theory. The bottom line is that he is driven by the desire to see his students make money. He is overwhelmingly passionate (and patient) when it comes to teaching a variety of very well thought out, logical (and very profitable) MP derived setups that he's identified for daytrading purposes. And while he focuses on the ES his setups and techniques are relevant to any market in which auction theory drives price action. I personally prefer to trade the NQ and I apply the setups accordingly.

 

Prior to joining up I had been trading the futures for 4 years using several common and one or two proprietary indicators to identify and time entries for high probability trade setups. My trading buddies couldn't quite understand why I wanted ot pursue JP's classroom since I was making money every day. I explained to them I wanted to get a better handle on "why" price action unfolds the way it does each day and that I figured that JP's tutelage would help me achieve that goal. Well, it has and it will continue to. I don't know if any and every trader will take to JP's approach. In fact, I doubt it. But I am certain that for those for whom the lighbulb goes off will recoup their membership fees after just afew trades. In other words, JP's program pays for itself and in my book that's the definition of "invaluable".

[glenbee 10]

Just thought I'd add my 2 cents to this thread. I paid the $400 to enroll in JP's class last month and found it so rewarding that I didn't hesitate to pay the additional $800 for lifetime membership access to his chat room and member group materials. Prior to enrolling I had read the CBOT MP manual and I had read and re-read Dalton's Mind Over Markets at least three times. So I felt I was going into JPs class with a farily well grounded understanding of market auction theory and MP concepts. However, it became apparent from the get go that JP's objective is to take his students beyond theory. The bottom line is that he is driven by the desire to see his students make money. He is overwhelmingly passionate (and patient) when it comes to teaching a variety of very well thought out, logical (and very profitable) MP derived setups that he's identified for daytrading purposes. And while he focuses on the ES his setups and techniques are relevant to any market in which auction theory drives price action. I personally prefer to trade the NQ and I apply the setups accordingly.

 

Prior to joining up I had been trading the futures for 4 years using several common and one or two proprietary indicators to identify and time entries for high probability trade setups. My trading buddies couldn't quite understand why I wanted to pursue JP's classroom since I was making money every day. I explained to them I wanted to get a better handle on "why" price action unfolds the way it does each day and that I figured that JP's tutelage would help me achieve that goal. Well, it has and it will continue to. I don't know if any and every trader will take to JP's approach. In fact, I doubt it. But I am certain that those for whom the lighbulb goes off will recoup their membership fees after just afew trades. In other words, JP's program pays for itself and in my book that's the definition of "invaluable".

[marketguy 11]

Glenbee,

Thanks for your great addition to the thread. I have been studying MP for several months. I am slowly making my way thru Mind Over Markets and understanding it pretty well. I listened to Billed Dalton's audio class. I have been watching Dan Duryea's IOAMT daily updates and other videos for the past month. I have been watching AllyB's videos. All in all, slowly growing more and more comfortable with MP concepts and slowly weaving it into my trading.

 

Question: how prepared do you think one needs to be before coming into JP's room? Do you advise more preparation before signing up?

 

Thanks,

 

B

[OAC 10]

Question: how prepared do you think one needs to be before coming into JP's room? Do you advise more preparation before signing up?

 

Thanks,

 

B

 

JP want you to forget everything that you have ever learned about the market : MACD, Stochastic, CCI, Fibonacci, moving average, candlestick...etc. And learn the market his way and you will become an instant success. He is a genius.

[glenbee 10]

Marketguy: I think it goes without saying that the more familiar one is with market auction theory and applications the faster he/she will assimilate JP's approach. So, given what you've already studied I suspect you'd find JP's method incredibly easy to understand. I wouldn't even be surprised if you find a few things a bit elementary. I mean, when you think about it, market auction theory isn't all that profound. In fact, the beauty of it all is that is so logical that you can't help but ask yourself "why didn't I think of that and why doesn't everyone use it?"

 

OAC: I don't know if your last post was serious or sarcastic but I do know that it is inaccruate. JP couldn't care less what supplementary chart setups one uses. In fact, it seems to me that his position is "use whatever else works for you". Again, he couldn't care less. His methods don't require anything other than an understanding of how to "read" the story being told in a MP to be successful and that's what his teaching is all about. So I am sure there are many in his room who use a market profile chart alone. However, this does NOT mean to say one can't be creative and enhance JP's approach with his/her own methods if they're so inclined. I do. I'm sure others do. I have yet to come across anyone in his room who would be so arbitrary and arrogant to suggest otherwise. OAC, can you tell us where you got your information? Is it first hand or hearsay? Because as best as I can tell it's just not accurate.

[OAC 10]

Glenbee, good luck to your trading and I wish you a prosperous career.

All I have to say is to the newbies here, since this forum has become quite popular among mostly new traders. It has become a fertile ground for for vendors to promote their services. If you have any questions about JPJtrading, feel free to PM me.