Market Profile Trading Room?

[swisstrader1 10]

swisstrader1

 

As a new member I find your post interesting:

 

1) 50k is really not that big of loss in a managed futures fund

 

2) a little due diligence on your part could have easily prevented this

 

3) I find it hard to believe that you were forced to let the trading continue

 

4) it has been my experience that the futures markets are no place for whiners

 

regards,

slow

 

1.) you are right, 50k is not a lot but if the risk per trade is under 2000$ then it is a hefty drawdown especially for a guy "that keeps losses small and lets winners run!" :doh:

Its really not the money he lost which shocked me but the way he lost it.

 

2.) well i was a member of his room and watched him "trade" (make calls) which was ok but he refused to give out a livetrading statement.instead we got his excel spreadsheet as track record of his calls. normally i would have never cosidered that but since i did spent some time in his room, decided to test him as a trader where he miserably failed.

 

3.) of course not. We had a defined risk limit and he exceeded that and that was the end!

 

4.) i agree and nobody is whining here. all i did was post my experience as a member of his room AND as a person he has traded for so I think i can provide a lot more insight to his trading than someone who has just been to his room!

Its so funny that all you "just registered members" defend him so heavily.:spam:

[swisstrader1 10]

Swiss Trader,

 

Tippet has made you the offer of proving your statement. The question is will you you take him up on it?

 

Hawk

 

@Hawk I have already mentioned that yes, I would be very willing to let a moderator or any trusted person of this forum check out my records to see that its all true what i wrote but you arent serious when you think that I would let some "Tippet" who has just registered to this forum and who is probably huddy himself look at that info again.

I think I already did this forum a favor as I brought about 20 new members to this forum (all with 1 post how great huddy is :rofl:) ...:doh:

So, yes, if there really is a mod who wants to check out my records as proof then contact me!

[Tonysalta 10]

My mother tongue is not English nor that is the official language of the country where I reside, so if the spelling, grammar and way of expression is not in accordance with the Oxford Dictionary I beg for some latitude.

I have read every single comment this far (for and against) about this Huddy saga, mainly because being a member of his room (a very happy one I might add) I want to know if I am a bad judge of character when I consider Huddy to be a honest man, a very knowledgeable MP and PA trader, a very good communicator, someone really interested in teaching non traders this very intricate profession and above all someone extremely responsible.

Well, my conclusions are the following:

1 - There are those that categorize themselves as guru traders that have the hobby of going from room to room to achieve only God knows what. May be satisfying their egos, belittling everyone, causing disruption or may be because their trading is so boring and unproductive that they need to know what is happening elsewhere.

2 - Then I found those that make statements that are blunted lies and statements extremely defamatory that would demand conclusive proof to be taken seriously. If any part of the second type of statements were true, they probably would relate to some episode way back when, that has nothing to do with the current reality. If there were old scores to be settled such matters are unrelated to a good or bad platform to learn Market Profile and Price Action (which is I believe the mot of the post)

3 - Statements like last minute registry of members to comment this post (being the minority) put into jeopard the credibility of the serious accusations made against Huddy not to mention some false statements made about current performances in Huddy's room.

4 - Last but not least (and most importantly) I found the comments made by all those that are (or have been) regular members of the room are true and accurate - I simply could not express them better.

 

My conclusion is therefore is that I continue to have no reason to mistrust my perception of people's character and this chapter as far as I am concerned is closed.

 

To answer the post I say this - all those wishing to learn about Market Profile/Price Action, try the market live without the fear of loosing your pents and for a very reasonable price can definitely consider Channel-Trading (I'm just a member of the room not a rep).

[slow 10]

1.) you are right, 50k is not a lot but if the risk per trade is under 2000$ then it is a hefty drawdown especially for a guy "that keeps losses small and lets winners run!" :doh:

Its really not the money he lost which shocked me but the way he lost it.

 

2.) well i was a member of his room and watched him "trade" (make calls) which was ok but he refused to give out a livetrading statement.instead we got his excel spreadsheet as track record of his calls. normally i would have never cosidered that but since i did spent some time in his room, decided to test him as a trader where he miserably failed.

 

3.) of course not. We had a defined risk limit and he exceeded that and that was the end!

 

4.) i agree and nobody is whining here. all i did was post my experience as a member of his room AND as a person he has traded for so I think i can provide a lot more insight to his trading than someone who has just been to his room!

Its so funny that all you "just registered members" defend him so heavily.:spam:

 

swisstrader1

 

I thank you for your response

 

I am not sure how you are representing yourself and I am not sure how the trader is representing himself. (professional non registered, professional registered, individual, etc)

 

This matter seems like it is more for legal arbitration than all these arbitrary postings.

 

I am not questioning either sides integrity, hopefully offering a just solution for all

 

As I told kiwi I have no dog in this fight

 

Regards,

slow

[laguna 10]

I had never been to JP room, but was a member at Huddy's: it was defintely a Waste Of Time! Being a Nice Guy Does Not Make You A Good Trader, who after all rips every one off, and unless you are in complete denial, and hope for a miracle ( which I did, and therefore lasted a month), you need to wake up and realize It Is Just Another Scam, that goes around and around Unpunished!

 

I left Forex, seeing endless scams, knwoing that due to nature of the Global Markets such can not be changed, hoping that Futures market being so heavily regulated, will be unlike FX.

 

Latest scam, that apparently been around for a while is: eminischool...What I want to say about Greg will not be printed...One of the Most Shameful Rooms Ever.

 

I suggest that we all search for sources of information and exchange ideas How To Stop These Scams. It is truly unbelievable, that this much damage is done in the open and so many get ripped off.

[swisstrader1 10]

I had never been to JP room, but was a member at Huddy's: it was defintely a Waste Of Time! Being a Nice Guy Does Not Make You A Good Trader, who after all rips every one off, and unless you are in complete denial, and hope for a miracle ( which I did, and therefore lasted a month), you need to wake up and realize It Is Just Another Scam, that goes around and around Unpunished!

 

I left Forex, seeing endless scams, knwoing that due to nature of the Global Markets such can not be changed, hoping that Futures market being so heavily regulated, will be unlike FX.

 

Latest scam, that apparently been around for a while is: eminischool...What I want to say about Greg will not be printed...One of the Most Shameful Rooms Ever.

 

I suggest that we all search for sources of information and exchange ideas How To Stop These Scams. It is truly unbelievable, that this much damage is done in the open and so many get ripped off.

 

@laguna, thats exactly why I wrote this post. I read those posts how good huddy and channel-trading is and it almost made me puke over the keyboard so I had to write my experience on that and look at the response, 30 newly registered members beeing extremely defensive about their "hero"...

[MadMarketScientist 11]

I'm not really seeing anything new to the discussion so while I won't yet close the thread, let's try to keep the conversation either constructive without the name calling or it's probably best not to continue to post if it's going to degrade the tone. Obviously there are some very different opinions here - which is fine. But I'd prefer not to see the tone degrade much further.

 

It's always a tough debate because yes, I'd be the first to say that many services/training may not be worth it, but there are plenty of good ones. However, most individuals still do not succeed and the blame game goes into overdrive. Sorry, it's not always the vendor if you fail to succeed. Trading is really difficult even with the best training. Hold yourself accountable -- if you purchase training/strategy do your due diligence first. Make sure there's a guarantee. A trial. Or whatever -- it's like any marketing -- it gives the rosiest scenario. But that's not just with trading courses -- look around -- all marketing is like that. Selling the dream. Be accountable for your decisions.

 

MMS

[juniorh 10]

Does anyone know of a live trading room that uses Market Profile? The only one I've heard of is Profile Traders. I'd appreciate hearing if there are there any others. Thanks.

Going back to the original question. I have used iTradePod and their trading room is primarily based on Market Profile Trading but they also execute off Order Flow and COT/Cumulative Delta setups.

 

Although they do not trade the news, they do promote Ben Lichtenstein's Traders Audio Live Squawk Box Service and offer it for a reduced $75 which is $50 below the usual price of $125. In the trading room they broadcast the sound of the trading activity happening on the CME S&P 500 trading floor pit at regular intervals which adds an energetic ambience to the trading room while trades are being called live. They also do pre-market prep.

 

As for Market Profile trading software they use Financial Alogorithm's (Final or Fin-Al not sure) Market Profile Trading TPO Chart indicator in their trading room which is a more affordable option because once you pay Fin-Al the one off fee for the indicator it's yours, unlike software most vendors such as Marketdelta whose software is also good but comes with a relatively high ongoing monthly subscription. Additionally, iTradePod offer the TPO Chart at a $50 discount.

 

You may find the Value Trading Basics article useful for a primer on how to trade some Market Profile and Auction Market concepts.

 

Hope this is helpful.

DowIndexTrader(DIT)

[juniorh 10]

Is this room still open?

[TRADEZILLA 10]

Does anyone use Volume Profile on Thinkorswim? I have it set up but the navigation is not clear and their support center don't have answers.. IF you use it, what is your input?

[mike21 10]

I'm not really seeing anything new to the discussion so while I won't yet close the thread, let's try to keep the conversation either constructive without the name calling or it's probably best not to continue to post if it's going to degrade the tone. Obviously there are some very different opinions here - which is fine. But I'd prefer not to see the tone degrade much further.

 

It's always a tough debate because yes, I'd be the first to say that many services/training may not be worth it, but there are plenty of good ones However, most individuals still do not succeed and the blame game goes into overdrive. Sorry, it's not always the vendor if you fail to succeed. Trading is really difficult even with the best training. Hold yourself accountable -- if you purchase training/strategy do your due diligence first. Make sure there's a guarantee. A trial. Or whatever -- it's like any marketing -- it gives the rosiest scenario. But that's not just with trading courses -- look around -- all marketing is like that. Selling the dream. Be accountable for your decisions.

 

MMS

 

Hi MadMarketScientist,

 

I'd love to know who you consider 'the good one's.'

[Trotta 10]

Good point. What service does MadMarket Scientist recommend?

 

Had a chat with that lot over at iTradePod.com (as i too am in uk) they seem quite genuine. Heard another trader state that if you do not use Market Profile and Order Flow you are greatly limiting your chances of success.What do you think?

 

A little dissapointed that they currently do not have any room availability so I can give them a rigourous road test. Pointed me to their Market Profile A to Z (can be googled) to get up to speed in the meantime. Very useful for whoever wants to get a grip.Any one else had a trial or dealings with them?

[kenpo 10]

1. The Profile Trader (Reza) guy only Sim trade. He's not a real trader, putting real money on the line. So don't believe his trading log on his site. Remember one thing about trading and that is, you know what your getting into and if your stupid enough to follow someone blindly without using your own brain you deserve to loss all your money.

 

Any moron can trade a 1 lot and lose money, but you will never make enough to live on because your commissions will kill you and you will eventually start over trading. Yes on a 1 lot too.

 

2. JPJ Trading (JP) is the real deal but he looses just like any trader. Again if you follow any trader blindly you are bound to loss it just depends on how much financial, and emotional pain you can tolerate.

 

Real traders (not Sim traders or Sim trading ) have developed a style that fit their personality so the lost doesn't affect them the same way it will effect you following them.

 

Another thing is that most successful trader will only have a maximum of 2 - 4 trades for the entire day and if they are profitable will stop trading altogether or when they hit their losing limit (amount) for that day; Again staying with the 2 - 4 trades max for the day.

 

This keeps them from over-trading and is much easier to handle mentally, emotionally, and financially.

 

If you a new trader to this game stick to this plan forever and you will eventually learn how to trade with discipline.

 

Hope this helps some of you out there looking for a room

Edited November 1, 2011 by kenpo

[steve46 12]

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 10]

* * *

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 12]

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 12]

[quote name=steve46;130908

 

I think I have simplified my own system to the point that my students can do this' date=' 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 13]

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 10]

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 10]

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.

[MadTr8r 10]

Well it looks like Swiss Trader was right, Huddy Channel-Trading is gone and not a peep about it here. I heard he owes a lot of people a lot of money, his partner claimed hes no longer associated with Channel-Trading.com and several members who paid up a few grand were left holding a bag. If anyone knows more details about what happened feel free to post.

[jennymatt2 10]

You might check out Huddy over at Channel-Trading... uses market profile and channels.. pretty conservative and highly focused on risk management. As I recall... his trading room is only $50 per month. I did not attend there but have met traders who have and they said they really liked it.

[sdcindy 10]

Guess you haven't read this thread recently Jenny.

[kuokam 10]

Can any of you update please. I tried to enter a trial period at Ioamt and JPJ without success. Any other suggestions?

BTW any news from Huddy / Channel-Trading?

Edited May 21, 2013 by kuokam

[BlueHorseshoe 10]

Can any of you update please. I tried to enter a trial period at Ioamt and JPJ without success. Any other suggestions?

 

Have you had a look at the Electronic Local blog?

 

He uses MP as a basic structure around which he build specific entries from intraday charts (typically trading pullbacks in trends with volume delta to recognise shifts in order flow). He's pretty much stopped posting now (supposedly working on an MP specific book), but the historical posts are very well worth reading through in my opinion.

 

He also used to post here on TL, but I don't think there was anything of special value that you wouldn't get from the blog.

 

Hope that helps.

 

BlueHorseshoe