The Trading Zone
Hello, has anyone tried or had any experience with TheTradingZone? If so, what are your thoughts about them, pro and con?
Thank you,
ican
Thank you,
ican
The sample of the squawk has been a real education for me. I heard someone at the trading zone say that trading can be up to 80% mental and emotional. I never realized how much the guys in the pit, had to do with market movement. Some of these Traders seem to trade so big, that they can temporarily move the market a point or two. Not to mention the large trading company's. I have always watched the dome or time and sales and new volume was important. Now Im starting to realize the numbers can have much more meaning to them. For myself (a short term trader) this seems to add some perspective to the market. IMHO
I was able to be in the room for a few days this week. I think the squawk is interesting but I need more understanding of it.
Also I noticed that sometimes you call trades very often, like 4 or 5 in an hour, and other times no trades at all. Is it a time of day that you do not trade?
I want to be in the room when you are trading
Also I noticed that sometimes you call trades very often, like 4 or 5 in an hour, and other times no trades at all. Is it a time of day that you do not trade?
I want to be in the room when you are trading
Hi
I'm happy your were able to attend the room. It serves as a good demonstration of what we do.
Regarding the squawk, yes I agree, it takes some time to be able to properly use it as a trading tool, this is why our resident Ex Floor trader provides ongoing commentary, he is familiar with all the nuances from his years as a pit trader.
Generally speaking we will trade less during the luch hour, this is not so much a time of day thing, it has more to do with trading volume.
One of our main charts, has what we call a No Trade Zone (NTZ), and we will avaoid taking any trades in the NTZ.
The chart will go into the NTZ as volume drops off, and this tends to happen over the lunch hour from 11:30 to 1:30.
It is possible that we were in the room during one of those times
I'm happy your were able to attend the room. It serves as a good demonstration of what we do.
Regarding the squawk, yes I agree, it takes some time to be able to properly use it as a trading tool, this is why our resident Ex Floor trader provides ongoing commentary, he is familiar with all the nuances from his years as a pit trader.
Generally speaking we will trade less during the luch hour, this is not so much a time of day thing, it has more to do with trading volume.
One of our main charts, has what we call a No Trade Zone (NTZ), and we will avaoid taking any trades in the NTZ.
The chart will go into the NTZ as volume drops off, and this tends to happen over the lunch hour from 11:30 to 1:30.
It is possible that we were in the room during one of those times
money management
Greg have not heard it addressed about what your trades really net.
Example: Lets say you trade 5 lots. When you win you take 1 off at 1/2 point, i@ 1 point, 1@1 1/2 point, 1@ 2 points & let trailer ride. When you lose a point it is then 5 points loss. This could be a lot to make up especially the many trades taken by secretariat. This is never summarized in the room & I believe most are intimidated to bring it up for fear of getting booted. Would appreciate your addressing this.
thanks
Greg have not heard it addressed about what your trades really net.
Example: Lets say you trade 5 lots. When you win you take 1 off at 1/2 point, i@ 1 point, 1@1 1/2 point, 1@ 2 points & let trailer ride. When you lose a point it is then 5 points loss. This could be a lot to make up especially the many trades taken by secretariat. This is never summarized in the room & I believe most are intimidated to bring it up for fear of getting booted. Would appreciate your addressing this.
thanks
Hi
Our trade management is based on taking a quick profit on each trade. We scale outas soon as we hit +.50 (1/2 point)
Depending on how advanced a trader is, on a 5 lot, we would either look to take 2 or 3 contracts off.
We have a very high percentage of trades that go at least .5 in our favor, and we encourage traders to bank partial profits quickly.
This enables them to take a greater amount of trades with confidence
With approx,. 50% of the trade off at +.50 we our orignal stops to net break even or as close to it as possible (if trading an odd number of contracts), so if you took 3 off at +.50, and still got stopped out we would call this NET B/E, even though yuo actually made 1 tick
3 cars * .50, 2 cars * -.50
or if you took only 2 off at +.50, you would be down 1 tick on 1 contract on the trade or -$12.50
This is close enough to a Net B/E situation
Once the the trade goes +1, stops are set to Break Even
For each point earned, we would exit another contract, trying always to keep at least 1 contract as a manged exit. A managed exit means, it is held until our chart says the move has expired, at that time you can just exit it, or tighten up the trailing stop
today for example 1 on a trade that went + 6, a 6 lot trade would have had something like
2 contracts * .50 (or 3 depending on how advanced the trader is)
1 contract *1.00
1 contract *2.00
1 contract *3.00
1 contract *5.00 (note it is highly unlikely to get out at the high of the trade)
Now, I know many will do the math and say that holding all contracts offers a greater profit, and I don't disagree.
Our philosophy however is that, a trader who has a high consistency of partial profits will not hesitate to take the next trade, and tghe next one is always the big one.
In range bound days, often a trade will go only 1 - 1.25 points, and then fail, so we will take a profit on it, while those waiting for bigger moves will take a loss.
Taking partial profits allows a trader to build the confidencein taking the trades, a small profit is always better than a small loss.
I hope this helps
Greg
Our trade management is based on taking a quick profit on each trade. We scale outas soon as we hit +.50 (1/2 point)
Depending on how advanced a trader is, on a 5 lot, we would either look to take 2 or 3 contracts off.
We have a very high percentage of trades that go at least .5 in our favor, and we encourage traders to bank partial profits quickly.
This enables them to take a greater amount of trades with confidence
With approx,. 50% of the trade off at +.50 we our orignal stops to net break even or as close to it as possible (if trading an odd number of contracts), so if you took 3 off at +.50, and still got stopped out we would call this NET B/E, even though yuo actually made 1 tick
3 cars * .50, 2 cars * -.50
or if you took only 2 off at +.50, you would be down 1 tick on 1 contract on the trade or -$12.50
This is close enough to a Net B/E situation
Once the the trade goes +1, stops are set to Break Even
For each point earned, we would exit another contract, trying always to keep at least 1 contract as a manged exit. A managed exit means, it is held until our chart says the move has expired, at that time you can just exit it, or tighten up the trailing stop
today for example 1 on a trade that went + 6, a 6 lot trade would have had something like
2 contracts * .50 (or 3 depending on how advanced the trader is)
1 contract *1.00
1 contract *2.00
1 contract *3.00
1 contract *5.00 (note it is highly unlikely to get out at the high of the trade)
Now, I know many will do the math and say that holding all contracts offers a greater profit, and I don't disagree.
Our philosophy however is that, a trader who has a high consistency of partial profits will not hesitate to take the next trade, and tghe next one is always the big one.
In range bound days, often a trade will go only 1 - 1.25 points, and then fail, so we will take a profit on it, while those waiting for bigger moves will take a loss.
Taking partial profits allows a trader to build the confidencein taking the trades, a small profit is always better than a small loss.
I hope this helps
Greg
I'm not sure if this is a new topic, replying to topic or just reading all the various topics and post's of people looking for a successful way to trade? Between all the Trading webs, trading sites, and advertisements for trading services, it is amazing that a person can ever make a decision on what to try? Trading systems costing 5, 10 and $15,000, for what? Are they going to really refund your money if your not happy? I don't think so? In addition to that, it's been clearly written in this forum that many of these high cost services don't even have respect enough to use their real names, emails or phone numbers (and no, I didn't say every single one). I have been lucky to find something that works for me. Was it easy work? No. I worked very hard to learn to trade. It was not due to some magic indicator or holy grail system. It came from trading indicators and tools that have been used for many, many years and can be found on a simple charting package. It came from a person who I believe has worked hard to build a good and honest, reputation. A system that is not pay first and see later. Rather, check it out first, if u don't like or are simply not happy, no hard feelings and you are welcome to find something else. Are their statements like, trade 1 hour and play golf all day? No, in fact the Trading Mentor is there all day every day. Does it cost 5 or $10,000? No, much less then half of the first figure. A 21 chapter E-book, live webinars and free on going education twice every week after the close. I believe the ones for 10k charge for on going education. Call this a testimonial or what ever you like. I am just tired of people asking where can I find a good trading method? IMHO, It's right here, but no need to trust me. Go check it out on your own and see if it fits what you are looking for? www.thetradingzone.com
Save your money....
Thetradingz*ne....is garbage. I know guys who been on Paltalk for 2-3 years..they seen them all....tzone had an wizard system...a buddy of mine tried it....useless. I was on Pal for 1 1/2 years...seen all the scammers and so called gurus.
Listen..no great or good traders..are on paltalk trying to get subscription. They busy trading and enjoying life!!
Since leaving Pal in Aug and finding a simple way to trade in begn July, I make more money in 1 month than I did in 1 2/2 year on Paltalk. I been to most of the rooms....Naturus, trading zone ( secretariat) and Greg..what a joke, jay double nickel, on and on. Yeah, I too was lkg for the gurus..till I realized...they was something wrong with the picture...
Save your $5k or $5 grand...use it for trading capital. Trading is simple. Their are high prices and low prices. You short high prices and buy low prices...in the oscillation.
Keep your trading capital in the high daily saving acct and learn for free on the net...search and search...go to paltalk and hotcomm..see HOW THE LOSING TRADERS ARE TRADING WITH THEIR MENTALITY AND DO THE OPPOSITE!!
Its a zero sum gain....If you spend enough time you will find your game plan, without wasting any of your capital for courses or rooms.
Good luck.
Thetradingz*ne....is garbage. I know guys who been on Paltalk for 2-3 years..they seen them all....tzone had an wizard system...a buddy of mine tried it....useless. I was on Pal for 1 1/2 years...seen all the scammers and so called gurus.
Listen..no great or good traders..are on paltalk trying to get subscription. They busy trading and enjoying life!!
Since leaving Pal in Aug and finding a simple way to trade in begn July, I make more money in 1 month than I did in 1 2/2 year on Paltalk. I been to most of the rooms....Naturus, trading zone ( secretariat) and Greg..what a joke, jay double nickel, on and on. Yeah, I too was lkg for the gurus..till I realized...they was something wrong with the picture...
Save your $5k or $5 grand...use it for trading capital. Trading is simple. Their are high prices and low prices. You short high prices and buy low prices...in the oscillation.
Keep your trading capital in the high daily saving acct and learn for free on the net...search and search...go to paltalk and hotcomm..see HOW THE LOSING TRADERS ARE TRADING WITH THEIR MENTALITY AND DO THE OPPOSITE!!
Its a zero sum gain....If you spend enough time you will find your game plan, without wasting any of your capital for courses or rooms.
Good luck.
Posted - 07/21/2007 : 12:23:01
--------------------------------------------------------------------------------
I've been trading for last 1 year and 2 months and it has been a losing experience as I was trying to day trade using supp and resis pts...not been fully trained...I could never decipher went to enter the trade using supp and resis ( classic ) and what stop to use. Futhermore, since being a small trader....I could not afford to lose too many 1 pt stops on emini ER...this is what I trade. I did lose many 1 pt stops...and my ass was getting sore from looking at the computer screen and getting stage fright...do I enter....wait....paltalk rooms, courses........all....nonsense.
However, in dabbling with wolfewave from April ( never signed up...$3k I don't have ) and seeing how the market oscillates....I was trying to figure out and easier way to run 1 contract...without any stops.
I guess the point is when a mkt makes a swing hi or low....keep watching and the next day if it comes up to test the high or below to test the low...and does not break it....then in all likelihood within the next 2-4 trading days it will go down 15-25 pts.....as we saw this week on ES and Er down a lot. It seems this no indicator and low stress...Simple...simple system ( a la Warren Buffet...keep it simple) seems to work.
Point being it it easy to make 10-15 pts in the week....wait for high short or low long
All this gurus and daytrading stuff...is a money making racket.....every daytrading trade has 50% probability...but at the highs and lows....the probability to succeed....changes from 50% to 90-97% success...well you make be down $100-300 initially 1 lot from entry so 3% risk...only God can be right 100%.
Regrads,
Bootsy
Mr or Ms Bootsy
After reading your previous post, I was compelled to see some others. You make one point that I partially agree with and that would be, Paltalk is not the most attractive learning arena. That being said, there happen to be a handful of Teaching Methodologys in the Paltalk room that are and have been very successful. You will find them in the first few spots of the trading section. If you respect any of the long term members in this forum (including the owner), some have spoke very positive about the high populated rooms. I am also not sure where your spending $5k unless it is in the lower areas of paltalk where the scammers may be? More important then everything above, you seem to think you can just buy low prices and sell high prices, in the oscillation. I would venture to say, Bruce has had some education in oscillation and didnt just start selling highs and buying lows. I would also venture to say, the successful traders on Paltalk, whether it be thru market Profile, Tape Reading and various other skills, were not just learned by watching other traders. There is a word and it's called EDUCATION. I have found very few people who have become successful trading on a screen who have not used that word, EDUCATION. One of your major issues seems to be one of the top 3 rules under Education. Quoting, your words," Futhermore, since being a small trader....I could not afford to lose too many 1 pt stops". You certainly cannot be afraid to lose, losing is a part of the business and hopefully overcome, parially on paper trading. Second, you can't trade with money you are afraid to lose or cannot afford to lose. Are there scams out there selling for 5 and $10k, sure, but in most cases, if you look around and read in upstanding forums, the scams are the ones being blasted on a daily basis. Finally, I will sum up your post in your own words and let people simply read it... "Save your $5k or $5 grand...use it for trading capital. Trading is simple. Their are high prices and low prices. You short high prices and buy low prices...in the oscillation".
--------------------------------------------------------------------------------
I've been trading for last 1 year and 2 months and it has been a losing experience as I was trying to day trade using supp and resis pts...not been fully trained...I could never decipher went to enter the trade using supp and resis ( classic ) and what stop to use. Futhermore, since being a small trader....I could not afford to lose too many 1 pt stops on emini ER...this is what I trade. I did lose many 1 pt stops...and my ass was getting sore from looking at the computer screen and getting stage fright...do I enter....wait....paltalk rooms, courses........all....nonsense.
However, in dabbling with wolfewave from April ( never signed up...$3k I don't have ) and seeing how the market oscillates....I was trying to figure out and easier way to run 1 contract...without any stops.
I guess the point is when a mkt makes a swing hi or low....keep watching and the next day if it comes up to test the high or below to test the low...and does not break it....then in all likelihood within the next 2-4 trading days it will go down 15-25 pts.....as we saw this week on ES and Er down a lot. It seems this no indicator and low stress...Simple...simple system ( a la Warren Buffet...keep it simple) seems to work.
Point being it it easy to make 10-15 pts in the week....wait for high short or low long
All this gurus and daytrading stuff...is a money making racket.....every daytrading trade has 50% probability...but at the highs and lows....the probability to succeed....changes from 50% to 90-97% success...well you make be down $100-300 initially 1 lot from entry so 3% risk...only God can be right 100%.
Regrads,
Bootsy
Mr or Ms Bootsy
After reading your previous post, I was compelled to see some others. You make one point that I partially agree with and that would be, Paltalk is not the most attractive learning arena. That being said, there happen to be a handful of Teaching Methodologys in the Paltalk room that are and have been very successful. You will find them in the first few spots of the trading section. If you respect any of the long term members in this forum (including the owner), some have spoke very positive about the high populated rooms. I am also not sure where your spending $5k unless it is in the lower areas of paltalk where the scammers may be? More important then everything above, you seem to think you can just buy low prices and sell high prices, in the oscillation. I would venture to say, Bruce has had some education in oscillation and didnt just start selling highs and buying lows. I would also venture to say, the successful traders on Paltalk, whether it be thru market Profile, Tape Reading and various other skills, were not just learned by watching other traders. There is a word and it's called EDUCATION. I have found very few people who have become successful trading on a screen who have not used that word, EDUCATION. One of your major issues seems to be one of the top 3 rules under Education. Quoting, your words," Futhermore, since being a small trader....I could not afford to lose too many 1 pt stops". You certainly cannot be afraid to lose, losing is a part of the business and hopefully overcome, parially on paper trading. Second, you can't trade with money you are afraid to lose or cannot afford to lose. Are there scams out there selling for 5 and $10k, sure, but in most cases, if you look around and read in upstanding forums, the scams are the ones being blasted on a daily basis. Finally, I will sum up your post in your own words and let people simply read it... "Save your $5k or $5 grand...use it for trading capital. Trading is simple. Their are high prices and low prices. You short high prices and buy low prices...in the oscillation".
Pips, Thank you for that excellent well thought out post.
let me reply to your comments:
1. you say you have been in my room, in and out for 2.5 years, as well as other rooms
Well you have never taken my course, and therefore you have never learned my trading method.
Probably you jumped in and out of my room and others as soon as you saw 1 single bad trade, you likely never even got a full view of the methods either
So.... Critical error #1, that most traders make, try and evaluate many systems at once.
2. Never having learned the materials, you were trying to shadow the moderators trades.
.... Critical error #2
Shadowing is dangerous, and hard, It requires full focus and attention or you will miss the trade. There are always technology issues as well, paltalk latency, data latency etc... In a scalp trading system, trying to shadow is playing with fire.
Now if you were able to recognize our setups, ahead of time on your own charts....
Our chat room serves as support for our members, who CAN recognize those setups, and as a demonstration to visitors.
Shadowing a moderator is not a replacement for sound trading education
#3 good traders are out enjoying life
What kind of comment is that?
I trade every day, and run a trading education business.
And I enjoy life every day. Why would I be elsewhere, than at my trading station if this is what I do for a living?
But I can tell you this, in August I took off the entire month, and traveled with my family.
I guaranty you that my trip cost more than you earn in an entire year
#4 You are suggesting that traders learn by trial and error
Well the statistics have proven, those who try and trade this way usually do not last more that 3 months
#5 We do not charge 5k
we charge $1,999 and it includes a lifetime membership, free access to our chat room, and Ongoing Support 2 times per week
Members who have been with us for 5 years continue to benefit from our 2 x per /wk training and review sessions, and free chat room.
So.... in our view we will dramatically reduce the learning curve, and instead of blowing 10k on trial and error, and never building the confidence required, why not spend a fraction of that, and surround yourself with other traders who are having success with the methods.
#6 we have been educating traders and on paltalk for 5 yrs not 2
#7 Our chat room has over 100 members in it, traders who have studied our materials and who chose to trade with us every day
In addtion we get 3- 40 guests who are there to evaluate before spending One Dollar. So yes, save your money, evaluate us 1st, it costs you nothing
#8 had an wizard system...a buddy of mine tried it....
Did you try it? Who is this buddy? Did he follow the trade signal rules? Was he jumping in and out of multiple chat rooms at the same time?
But YOU never tried it correct???
SignalWizard is no longer available to individual traders, a private group (traders / investors) has made me a generous offer to purchase the algorithm, they are in the evaluation period, a condition of which was that they alone get the signals.
it is not the first system I have programmed, and it wont be the last.
If you found something that works for you then best of luck.
If you truly think that trading off a single oscillator, will make you consistent money, you will without doubt in my mind, become a statistic of this industry in a very short time
Good luck and good trading
Greg
let me reply to your comments:
1. you say you have been in my room, in and out for 2.5 years, as well as other rooms
Well you have never taken my course, and therefore you have never learned my trading method.
Probably you jumped in and out of my room and others as soon as you saw 1 single bad trade, you likely never even got a full view of the methods either
So.... Critical error #1, that most traders make, try and evaluate many systems at once.
2. Never having learned the materials, you were trying to shadow the moderators trades.
.... Critical error #2
Shadowing is dangerous, and hard, It requires full focus and attention or you will miss the trade. There are always technology issues as well, paltalk latency, data latency etc... In a scalp trading system, trying to shadow is playing with fire.
Now if you were able to recognize our setups, ahead of time on your own charts....
Our chat room serves as support for our members, who CAN recognize those setups, and as a demonstration to visitors.
Shadowing a moderator is not a replacement for sound trading education
#3 good traders are out enjoying life
What kind of comment is that?
I trade every day, and run a trading education business.
And I enjoy life every day. Why would I be elsewhere, than at my trading station if this is what I do for a living?
But I can tell you this, in August I took off the entire month, and traveled with my family.
I guaranty you that my trip cost more than you earn in an entire year
#4 You are suggesting that traders learn by trial and error
Well the statistics have proven, those who try and trade this way usually do not last more that 3 months
#5 We do not charge 5k
we charge $1,999 and it includes a lifetime membership, free access to our chat room, and Ongoing Support 2 times per week
Members who have been with us for 5 years continue to benefit from our 2 x per /wk training and review sessions, and free chat room.
So.... in our view we will dramatically reduce the learning curve, and instead of blowing 10k on trial and error, and never building the confidence required, why not spend a fraction of that, and surround yourself with other traders who are having success with the methods.
#6 we have been educating traders and on paltalk for 5 yrs not 2
#7 Our chat room has over 100 members in it, traders who have studied our materials and who chose to trade with us every day
In addtion we get 3- 40 guests who are there to evaluate before spending One Dollar. So yes, save your money, evaluate us 1st, it costs you nothing
#8 had an wizard system...a buddy of mine tried it....
Did you try it? Who is this buddy? Did he follow the trade signal rules? Was he jumping in and out of multiple chat rooms at the same time?
But YOU never tried it correct???
SignalWizard is no longer available to individual traders, a private group (traders / investors) has made me a generous offer to purchase the algorithm, they are in the evaluation period, a condition of which was that they alone get the signals.
it is not the first system I have programmed, and it wont be the last.
If you found something that works for you then best of luck.
If you truly think that trading off a single oscillator, will make you consistent money, you will without doubt in my mind, become a statistic of this industry in a very short time
Good luck and good trading
Greg
quote:
Originally posted by pips2007
Save your money....
Thetradingz*ne....is garbage. I know guys who been on Paltalk for 2-3 years..they seen them all....tzone had an wizard system...a buddy of mine tried it....useless. I was on Pal for 1 1/2 years...seen all the scammers and so called gurus.
What wizard system are you talking about. The Trading Zone teaches a methodology. Not a system.
Listen..no great or good traders..are on paltalk trying to get subscription. They busy trading and enjoying life!!
Since leaving Pal in Aug and finding a simple way to trade in begn July, I make more money in 1 month than I did in 1 2/2 year on Paltalk. I been to most of the rooms....Naturus, trading zone ( secretariat) and Greg..what a joke, jay double nickel, on and on. Yeah, I too was lkg for the gurus..till I realized...they was something wrong with the picture...
The moderators in The Trading Zone chat room are great traders. These guys arn't scammers. They are traders and educators that enjoy what they do. You can't make money by shadowing traders. You must know the methodology. Once I learned the TTZ method, I was able to see the market as the moderators do.
Save your $5k or $5 grand...use it for trading capital. Trading is simple. Their are high prices and low prices. You short high prices and buy low prices...in the oscillation.
Keep your trading capital in the high daily saving acct and learn for free on the net...search and search...go to paltalk and hotcomm..see HOW THE LOSING TRADERS ARE TRADING WITH THEIR MENTALITY AND DO THE OPPOSITE!!
Its a zero sum gain....If you spend enough time you will find your game plan, without wasting any of your capital for courses or rooms.
Good luck.
The Trading Zone course is less than 2 grand. It includes lifetime membership, chat room, instant messages, end of day review twice a week, on-line course material, chart setups, and a lot more. It is all inclusive trading course that is worth much more than what they charge. www.thetradingzone.com Check them out. It's for real. No magic system. They just put it all together for you that makes sense.
I was somewhat lost before I took the course. I have learned so much from TTZ. It help me to see and understand the market like I have never done before.
Trading the oscillation as you do seems so juvenile. But, if that's your style...
Thanks for your response. Did you ever find anyone or anything to help you be a better trader? They are asking $3000 now. Thanks again.
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