Australian (ASX) Stock Market Forum

Question about SchoolOfTrade.com (1 Viewer)

Joined
Oct 16, 2008
Posts
15
Reactions
0
Hi all,

In reference to: schooloftrade.wordpress.com

I found this guys site and been watching the videos posted on his blog about his methodolgy and return he is getting on his day trading - is he doing anything or using anything for the course cost of $3699 that can't be sourced or learnt elsewhere? :confused::confused:

Maybe some old hats out there have 2c they'd like to share :).

Thanks in advance!

GotItForCheap
 
Joined
May 1, 2007
Posts
2,904
Reactions
49
Re: Question on SchoolOfTrade.com

If the market is below your entry and you are facing a loss, move your stop up to entry and the market will force you out of the market for a small loss

Wow and they say they trade crude? Gotta sit though BIG squeezes (if you don't go bust first)
 
Joined
Oct 16, 2008
Posts
15
Reactions
0
Re: Question on SchoolOfTrade.com

Looking for more of an opinion of whether this is the 'real deal' or not; so to speak.

The website says a lot but at the same time doesn't say much if you catch my drift.
 
Joined
Jan 2, 2006
Posts
10,172
Reactions
1,929
Re: Question on SchoolOfTrade.com

Looking for more of an opinion of whether this is the 'real deal' or not; so to speak.

The website says a lot but at the same time doesn't say much if you catch my drift.

How long have you been running the website for, GIFC?

gg
 

Wysiwyg

Everyone wants money
Joined
Aug 8, 2006
Posts
8,424
Reactions
264
Re: Question on SchoolOfTrade.com

I watched two tube scenes (which happened to be winning trades) and Mr. James says you have to join. There is a free 3 week trial to know for sure.

Our main indicators include Market Profile, Price Action, Momentum, & Volume.

"Buy now, sell now" indicators can be created with your own charting software. Then a defined trade management adherence to follow through.
 
Joined
Oct 16, 2008
Posts
15
Reactions
0
Re: Question on SchoolOfTrade.com

I watched two tube scenes (which happened to be winning trades) and Mr. James says you have to join. There is a free 3 week trial to know for sure.

Yeah I can't get that part to work, throws up an error when I try to sign up as a trial member :banghead: does it work for anyone else? I'm interested to watch if only it would work.
 

Trembling Hand

Can be found on the bid
Joined
Jun 10, 2007
Posts
8,852
Reactions
195
Re: Question on SchoolOfTrade.com

Yeah I can't get that part to work, throws up an error when I try to sign up as a trial member :banghead: does it work for anyone else? I'm interested to watch if only it would work.

Are you in oz or the USA? Don't know how are going to go trading CL &GC with 6 -15 tick SL from Oz. You have about a 1 sec latency without factoring in that you are following some else's calls which will ad another huge delay.

With CL having a 1 min ATR of around 12 ticks I can see what will happen.
:samurai:
 

professor_frink

Moderator
Joined
Feb 16, 2006
Posts
3,252
Reactions
2
watched the vids. Unimpressed.

when you look at the chart, he's picked up 40 cents at the end of a 5 dollar move, and then tries passing it off as a 10 tick profit. That's more than a little misleading. The reality is that he made 3 1/3 ticks per contract. Trading a short term breakout and looking to scab 4 ticks on 2/3 of the position is hardly something you'll want to try and replicate.

In one of his vids, he talks about trading a "2 step short" This is also quite commonly referred to as a 123 pattern

You can have this pattern for free

http://www.trading-naked.com/123-reversal.htm

His "breaker long" pattern is also pretty well a 123, but used as a continuation pattern.

That'll be 3.5K thanks:D
 
Joined
Oct 16, 2008
Posts
15
Reactions
0
Re: Question on SchoolOfTrade.com

Are you in oz or the USA?

Australia

You have about a 1 sec latency without factoring in that you are following some else's calls which will ad another huge delay.

I considered the lag between him calling the setups and myself clicking the button (maybe). Thanks for reinforcing the angle.

TH - If you were to replicate these scalps from here, who would you go with for brokerage/execution with a view to minimise lag?
 
Joined
Oct 16, 2008
Posts
15
Reactions
0
when you look at the chart, he's picked up 40 cents at the end of a 5 dollar move, and then tries passing it off as a 10 tick profit. That's more than a little misleading. The reality is that he made 3 1/3 ticks per contract. Trading a short term breakout and looking to scab 4 ticks on 2/3 of the position is hardly something you'll want to try and replicate.

Many thanks Prof! This is exactly the feedback I was looking for - he talks so fast and scribbles all over his charts its easy for a newb such as myself to go glassy eyed and not be able to detect any exaggerations or straight out BS that may be said in the commentary.

/me trying to remain wary of the scammers.

That said, regardless of its true or not, he is doing a good job of making it look real if anything :cautious:
 

professor_frink

Moderator
Joined
Feb 16, 2006
Posts
3,252
Reactions
2
Many thanks Prof! This is exactly the feedback I was looking for - he talks so fast and scribbles all over his charts its easy for a newb such as myself to go glassy eyed and not be able to detect any exaggerations or straight out BS that may be said in the commentary.

/me trying to remain wary of the scammers.

That said, regardless of its true or not, he is doing a good job of making it look real if anything :cautious:

No worries, hope it helps:)
 
Joined
Mar 28, 2009
Posts
1,805
Reactions
2
Re: Question on SchoolOfTrade.com

No idea what GFIC means, but its not my site if that helps?

GotItForCheap.

is he doing anything or using anything for the course cost of $3699 that can't be sourced or learnt elsewhere?

Not likely. I'd recommend reading everything you can on the net, and put the $3700 aside for when you're ready to trade.
 
Joined
Feb 10, 2010
Posts
15
Reactions
0
This guy is a FRAUD in my opinion. I am speaking from experience as I was stupid enough to join! Watch my Review on YouTube, please search for JamesWaveUT, kind regards Lloyd Hopkins
 
Joined
Oct 16, 2008
Posts
15
Reactions
0
Thanks for the video and review Lloyd and I am sorry for the loss you have experienced with this guy - for anyone else interested the video slideshow and secrets to SchoolOfTrades fictional success is linked below:

http://bit.ly/a48Gbi

It makes complete sense to me that the only way this guy is getting filled instantly is using simulation. The homework you have done looking at the order screen really shows this.

What a scammer! :mad::mad:

NB. Have you yet identified a futures daytrading method thats working for you?
 

Trembling Hand

Can be found on the bid
Joined
Jun 10, 2007
Posts
8,852
Reactions
195
Boy oh boy. There is a pattern to these type of dudes.

High win rate.

High dollar value quoted as being won each day.

No mention of commission cost or other expenses.

No mention of minimum capital.

Profit % based on margin or "look we made $1200 on just 2 contracts"

Small profits per trade relative to what they risk, normally negative R:R!!
 

professor_frink

Moderator
Joined
Feb 16, 2006
Posts
3,252
Reactions
2
This guy is a FRAUD in my opinion. I am speaking from experience as I was stupid enough to join! Watch my Review on YouTube, please search for JamesWaveUT, kind regards Lloyd Hopkins

sorry to hear Lloyd. Great review though. Hopefully nobody else gets caught up in this kind of nonsense in the future.
 
Joined
Oct 16, 2008
Posts
15
Reactions
0
Small profits per trade relative to what they risk, normally negative R:R!!

Is it ever acceptable to have a negative R:R if you're using "high-percentage win" setups such as those spruiked by this gent?

Correct, he never says anything about commissions, fees, starting capital, etc.
 

Trembling Hand

Can be found on the bid
Joined
Jun 10, 2007
Posts
8,852
Reactions
195
Is it ever acceptable to have a negative R:R if you're using "high-percentage win" setups such as those spruiked by this gent?

I have not seen anyone show that they can survive doing it, would love to see it being done with real money. :cool:

I just don't know why you would want to. Trade all day then get two go against you and you lose all your hard work.
Its a joke.
 

Users who are viewing this thread

Top