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jackb

PowerCharting Joins TTM

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Obviousely you are not as confident in what you say as Hoffman is in his trading.

 

But, to each his own. We will agree to dis-agree.

 

what does hoffman has anything to do with me? (or you for that matter? are you confused? LOL)

 

 

unless you and the OP and hoffman are one and the same person.

in that case, I think you would blow up in 12 months as well.

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Obviousely you are not as confident in what you say as Hoffman is in his trading.

 

But, to each his own. We will agree to dis-agree.

 

I think you are looking for an exit,

but there is no graceful exit for you,

other than a blow up in 12 months.

 

TTM has been around for awhile, they are a known entity to us. We know how they operate. We know more about them than you think... LOL. We even have their "esoteric" indicators, just do a search in this forum and you will find them, all dissected and analyzed (and free download !)... only a newbie like you will get excited by their smoke and mirrors. Don't feel bad, you are not the first one... you are a statistic.

Edited by Tams

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I was in Robert's room 2 years ago exactly.

 

He talked way too much and traded very little....it was hard for me to really follow and I didn't make money...

 

One thing i DO remember is this: on one trade it went against him he added like 100 contracts! I was like FVCK!!!!!

 

it was down against him like $6k and finally he grabbed 2 ticks! I was like What the hell. :crap:

 

Now i know it was a martingale

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I was in Robert's room 2 years ago exactly.

 

He talked way too much and traded very little....it was hard for me to really follow and I didn't make money...

 

One thing i DO remember is this: on one trade it went against him he added like 100 contracts! I was like FVCK!!!!!

 

it was down against him like $6k and finally he grabbed 2 ticks! I was like What the hell. :crap:

 

Now i know it was a martingale

 

I'd like to thank you for coming forward...I offered a couple of comments about this early in the thread and the shills came out of the woodwork to try to defend the guy....I think this reflects badly on TTM. Just one man's opinion.

 

Steve

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Hoffman/TTM have been playing up Hoffman's "victory" in a "live" 1-hour trading contest at a recently held show/conference. While they're all giddy about the win and encouraging people to watch the video recording, it's a damning video that eliminates all doubt.

 

Hoffman makes it clear multiple times that he "hates getting stopped out" and his "solution" is to take a trade based on a short time frame and if it goes against him he simply stops looking at that chart in favor of a longer time frame chart for a supposed "fallback" s/r zone and if it still goes against him he jumps to another time frame, etc, etc. His layout involves 5 different time frames. Of course, it's a simple matter to just create another longer periodicity chart and if you've got enough bullets you'll easily bamboozle enough people into believing he's "on to something."

 

That approach and the one about getting a mailing list and telling half that your pick is long and half that your pick is short and then stepping through several iterations until you have "proven" to a given number of people that "I/he called it right 10 times in row", is ballsy and yet so sad.

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no problem...just looking for a QUALITY trading room for a long time....IS THERE ANY ONE OUT THERE!?????????? :doh::missy::crap::angry:
I looked at the TTM-Hoffman game and it looked pretty scary to me. I think the chart arrangement is terrible and using moving averages to peg support and resistance levels was weak. Some of the important criteria I use to evaluate these systems is if I think the average trader can duplicate was is taught. The TTM-Hoffman game is again weak in that department imo.

 

I did find a simple system I am going to evaluate next month which is focused on intraday trend following. I met the developer in Houston recently who has built color coded price bars with order flow data he calls prox bars. I took a look at the prox bars from his trendscalping site and the charts he had on his laptop looked simple enough. I need simple charts without bunches of indicators and I will give this a shot.

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Hoffman blew up today. He had Martingaled short about 852 TF contracts and was down about $250K when the system (He uses Infinity) locked the account and closed his position. Total loss about $312K as I guess the Infinity system closed him out with a market order..

 

I think his ego got to him. There were many times during the 1 1/2 hours he was in the trade that he could have gotten out with a small loss or profit in the $3K to $5K range. He has a number of trend indicators that were all showing down and getting worse, but he ignored them, though he almost never mentions them when he trades.

 

To top things off he then had to leave for a three hour dental procedure.

 

Jack

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Okay well thats a sad story and I tend to think of the dental procedure as a bit cosmic karma

 

What I would be interested in is how his business partners and his students view this event?

 

Finally, it seems that the problem(s) associated with the Martingale concept have been part of the popular literature for a while....one assumes that anyone with access to the Internet (including Hoffman and his partners at TTM) would have had knowledge of this and presumably they understood what the risks were. I wonder why they let it go on to this point?

 

Oh well its a "bar story" now........

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What Robert Hoffman blew his account! :helloooo: i thought this was impossible! I thought he was the master of masters, the guru of gurus and the trading god of the trading world!

 

Well you now how many people erase profits they make in a week in one bad trading day? Well seems like rob erases profits made over the past SEVERAL YEARS in one day! Good god....is he's done and finished! :boxing: I don't know but he makes good money with the subscriptions---now i wonder if they will stay with him.

 

Bottom line ...don't keep adding and adding to losing positions---especially when the FED (big ben) is talking.

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It's a sad day for System win rates...in Hoffman("I don't like taking a loss")'s case, they threw out their No. 1 Ace, Mr. 99%, and he couldn't even get it done. That Average Net $ Loser in a martingale is ball ("system") buster.

 

Can't wait to hear the rationalizations?

 

Wouldn't it be remarkable if Rob really didn't know what he was doing, that he'd never heard of a martingale betting strategy, that he thought it was his own creation and that after being told that it's not only an old but also a thoroughly debunked "system"...that he might retort..."Oh...well....I didn't know that...I just screwed up big time then. I guess I better not do that again."

 

He might gain some respect for such a comment. Ah, never mind...the rationalizations are...

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Well, so much for those conspiracy theory folks who theorized he trades on a sim trader.

 

I cannot imagine how that would feel losing that much money live in front of all those folks who were in his room.....speaking for myself, it's bad enough to lose a few bucks when no one else even knows or cares. If it were me who was in that trade losing $300k, not only would there be a huge mess in my pants, it'd be all over the walls, the floor - everywhere lol.

 

For whoever might be interested, there's a 14 day trial for $5.00 - - according to the email, looks like Rob will be trading for two of those days at least - let me know if y'all want the link.

 

I was one of Rob's students since about a month after he first started posting on youtube up until about a year ago when I left his room - (so, I've known him about 3 years I guess) and I am only posting this to set the record straight on a few things........

 

1) Whatever anyone else thinks about him, he really is a heck of a great guy, a total riot to just shoot the breeze with. I believe that he is honest and cares enough about his students and what he teaches to often go "above and beyond" what one would expect from him.

2) He can rip apart a chart like no body I've ever seen, his T/A abilities are absolutely phenomenal. I've been 11 years in this game, none of the 20 or so "guru's" I've had the misfortune to get acquainted with can touch his T/A, or his teaching abilities - not by a long shot.

3) The "high probability" setups that he teaches work over 90% of the time - IMO.

4) His "Scaling in" or "martingale" strategy will kill most traders a lot sooner than 18 months - it killed me twice in only a few months. I'm pretty sure I would have only lost more if my account was larger.

5) When I was in his LTR, (Live Trading Room) He CONSISTENTLY warned his room about this "scaling in" strategy - he was absolutely well aware of it's risk and was never shy about warning others.

6) In the approx 2.5 years I was in his room, I recall he took maybe 15 - 20 trades where he was immediately on the wrong side - scaled in then exited with a few ticks profit on the slight pullback.

 

 

I could go on and on, but finally, regardless of the "shady" unsubstantiated and unfounded rumors perpetrated by the unknowing, I still maintain that the market education he offers is far and away superior to anything else out there. No one else even comes remotely close. Sure, his subscription fee is high, though much cheaper than others, but he devotes a lot of time into it too - it is, after all, only worth what people are willing to pay - no?

 

Happy trades!

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It's a sad day for System win rates...in Hoffman("I don't like taking a loss")'s case, they threw out their No. 1 Ace, Mr. 99%, and he couldn't even get it done. That Average Net $ Loser in a martingale is ball ("system") buster.

 

Can't wait to hear the rationalizations?

 

Wouldn't it be remarkable if Rob really didn't know what he was doing, that he'd never heard of a martingale betting strategy, that he thought it was his own creation and that after being told that it's not only an old but also a thoroughly debunked "system"...that he might retort..."Oh...well....I didn't know that...I just screwed up big time then. I guess I better not do that again."

 

He might gain some respect for such a comment. Ah, never mind...the rationalizations are...

 

the sad thing is...

this is not the first time they blow out.

according to many posts on various forums over the years,

people have observed their losing trades that mysteriously changed position and became winners.

sad... but there are more desperate brainless sheep with wool over their eyes than thinking men with emotion in check.

Edited by Tams

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Hoffman blew up today. .... . . . . . .

 

I think his ego got to him.

 

Jack

 

I just created a new thread titled, "Fear vs Ego - which is worse". I just wanted to point that out. Plus making this post will increase my trader IQ. And if you look at the "Latest Posts" list, I'm right at the top. :rofl: I do this to boost my ego.

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Well, so much for those conspiracy theory folks who theorized he trades on a sim trader.

 

I cannot imagine how that would feel losing that much money live in front of all those folks who were in his room.....speaking for myself, it's bad enough to lose a few bucks when no one else even knows or cares. If it were me who was in that trade losing $300k, not only would there be a huge mess in my pants, it'd be all over the walls, the floor - everywhere lol.

 

For whoever might be interested, there's a 14 day trial for $5.00 - - according to the email, looks like Rob will be trading for two of those days at least - let me know if y'all want the link.

 

I was one of Rob's students since about a month after he first started posting on youtube up until about a year ago when I left his room - (so, I've known him about 3 years I guess) and I am only posting this to set the record straight on a few things........

 

1) Whatever anyone else thinks about him, he really is a heck of a great guy, a total riot to just shoot the breeze with. I believe that he is honest and cares enough about his students and what he teaches to often go "above and beyond" what one would expect from him.

2) He can rip apart a chart like no body I've ever seen, his T/A abilities are absolutely phenomenal. I've been 11 years in this game, none of the 20 or so "guru's" I've had the misfortune to get acquainted with can touch his T/A, or his teaching abilities - not by a long shot.

3) The "high probability" setups that he teaches work over 90% of the time - IMO.

4) His "Scaling in" or "martingale" strategy will kill most traders a lot sooner than 18 months - it killed me twice in only a few months. I'm pretty sure I would have only lost more if my account was larger.

5) When I was in his LTR, (Live Trading Room) He CONSISTENTLY warned his room about this "scaling in" strategy - he was absolutely well aware of it's risk and was never shy about warning others.

6) In the approx 2.5 years I was in his room, I recall he took maybe 15 - 20 trades where he was immediately on the wrong side - scaled in then exited with a few ticks profit on the slight pullback.

 

 

I could go on and on, but finally, regardless of the "shady" unsubstantiated and unfounded rumors perpetrated by the unknowing, I still maintain that the market education he offers is far and away superior to anything else out there. No one else even comes remotely close. Sure, his subscription fee is high, though much cheaper than others, but he devotes a lot of time into it too - it is, after all, only worth what people are willing to pay - no?

 

Happy trades!

 

This is typical of the ridiculous crap that people try to pull when someone simply cannot make their program work...."a great guy"......"his T/A abilities are phenomenal"...."high probability setups".....yeah right!

 

Look the goal is to help traders transistion from losing to winning...not from losing to blowing out their accounts!....and how does someone with a big a account show people with only a few thousand dollars how to win.......I can assure folks that it is NOT by scaling in on a martingale betting scheme that was proven wrong years ago.....and it well known in popular literature..

 

I do this every day folks and the way I do it is to trade an account that is at the same level (on average) as my students......this way they are comfortable with my entry and my scale outs..no solicitation...the current class is closed, but I do want to suggest to people who are looking, that you ask about the method...what is the suggested minimum account size to trade in the class, what account size does the teacher trade....what is the average risk on a trade, do they use profit targets, how do they take profit, do they provide a periodic accounting of results (we do this on a weekly and quarterly basis)...and does the teacher provide ANY education as to how the student can run a sustainable trading business? I think you will find that it is rare to see someone doing more than providing signals on a green light buy/red light sell basis...and ultimately that teaches the student very little.....just my opinion.

 

Good luck in the markets

Steve

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I agree with Steve in the post above.

 

Robert Hoffman may sure be a 'great guy' but this is immaterial. We come to trade and make money....that being said I was in rob's room for a month and honestly COULD NOT STAND HIM....he just talked and talked way too much and was rather annoying. For example he said the word "ABSOLUTELY" over and over and again along with "Let's go ahead" :crap:

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just get this email today 7/16/2011, so maybe his blow up was just a dream;

 

"FROM THE DESK OF JOHN CARTER:

 

Dear Trader,

 

There are streaks that have been mathematically proven to be impossible:

 

Baseball has Joe DiMaggio's 56 game hitting streak

Football has Brett Favre's 297 consecutive game streak

Hockey has Wayne Gretzky's 51 straight games with a point

 

And, now traders have Rob Hoffman's 535 straight days without a losing trade.

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just get this email today 7/16/2011, so maybe his blow up was just a dream;

 

"FROM THE DESK OF JOHN CARTER:

 

Dear Trader,

 

There are streaks that have been mathematically proven to be impossible:

 

Baseball has Joe DiMaggio's 56 game hitting streak

Football has Brett Favre's 297 consecutive game streak

Hockey has Wayne Gretzky's 51 straight games with a point

 

And, now traders have Rob Hoffman's 535 straight days without a losing trade.

 

 

Mr. Carter needs to get his head straight about what is and isn't "mathematically proven to be impossible"...

 

Anybody with a big account could have equaled Hoffman's "streak"...all they had to do was double down every time they were wrong....on the other hand not everybody with a bat could have equaled Dimaggio's hitting streak against professional pitching...

 

The guy used his account size to in effect "buy" his record streak....any of you could have done the same as long as you were willing to ignore the risks...

 

Finally I wonder if his bank thinks that this is all a dream....if so, I am sure his next statement will "wake him up".....

 

This is just a bit of damage control (or "spin") from Mr. Carter.

 

I am done with the subject

 

Steve

Edited by steve46

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