EminiJunkie.Com

Thought I start a thread on EminiJunkie.com.

I am a Trading Plan owner, EJ Boot Camp DVD owner and member of the live trade room. I have been burned by other useless trade rooms that use their "secret" indicators. With eminiJunkie, I feel that I am in a real helpful learning environment, due to the fact that they use fibs, support/resistance, various market internals, intra day & long tern charting, and time & sales.

I welcome any thoughts on this to point me in the right direction.

Originally posted by BruceM

Being an MP person I was kinda hoping Channeltrading would have worked out..what happened?

From what I understand, he uses MP to support his trading using channels and ABC pattern.

Originally posted by MassiveCashTeam

stocksster - i wouldnt call eminijunkies "junk," but do understand your reasoning.

jack greene - easyeminitrader is some good stuff too, just as well as eminijunkie. since i have 90% decided channel-trading is not a fit for me, i think the most learning that one can get is from eminijunkies. he does teaches you to learn to take fib trades based on filters, longer time frame, areas of support/resistance, etc.....but i do understand your thoughts on EJ only looking at the ES market only. i can see the argument for looking/trading more than one market. but for EJ methodology in fib retracements, i strongly believe you need to look at only one market to learn how that particular market lives and breathes. if you look at other markets at the same time, such as 4-6 markets at a time, how are you going to get intimate with all these markets at the same time? wouldnt this bring you back to vipertrading?

Should have added: you are right about trading too many markets at the same time. Will take you advise and those echoed by others and learn market well.

Originally posted by stocksster

Originally posted by BruceM

Being an MP person I was kinda hoping Channeltrading would have worked out..what happened?

From what I understand, he uses MP to support his trading using channels and ABC pattern.

What is MP?

Originally posted by BruceM

Being an MP person I was kinda hoping Channeltrading would have worked out..what happened?

Bruce, im still a little unsure with Huddy @ Channel-Trading. Here is my thought process on this trade room. It is not a MP room, he only uses it as another tool to identify support/resistance. His trades are based on ABC pattern after a consolidation area that occurs near a support/resistance area. He uses the MP and left of the 1-minute chart to locate these support and resistance areas. Once he identifies these consolidation area, he details his reasoning what he is waiting for as in the breakout direction of the consolidation period. He trades 3 cars, and once the trade goes in his favor by a few tics (3-4 tics) he immediately closes out 1 car and moves the remaining 2 cars at break even and just lets it ride. If the move goes a few more tics (3-8), he cashes out on the 2nd car and lets the 3rd trailer go for the huge runner. But if the initial move goes against him, he has full stop out anywhere from 3-5 tics. Today was indicative of his methodology. He had about 3-4 trades that he snagged 3-4 tics on and the remaining 2 cars stopped out at break even. He had one full stop out. And he missed all the big swings on the day. He still boasts that he had winning day. But in my eyes, his system didnt work like he wanted to. He trades all these little set ups in hopes he catches that big swing on a runner. He catches these runners by snagging a few tics his 1st car and letting the remaining cars become runners and he leaves the stop at break even so he gets these runners with out the stop outs. To me, this is gambling. Anyone can do this on their own. Just trade 2 cars, with a reasonable profit target of 3-4 tics, then move your stop on the 2nd trailer at break even and let it go to the moon or let it stop out. Not too difficult.

I want a room that teaches me, not a room that shoots from the hip and just gambles on a trade. But I could be wrong...so I'm still giving his room a go before I pull the plug.....

Originally posted by jgreene

Originally posted by stocksster

Originally posted by BruceM

Being an MP person I was kinda hoping Channeltrading would have worked out..what happened?

From what I understand, he uses MP to support his trading using channels and ABC pattern.

What is MP?

MP = Market Profile

Originally posted by jgreene

Originally posted by stocksster

Originally posted by BruceM

Being an MP person I was kinda hoping Channeltrading would have worked out..what happened?

From what I understand, he uses MP to support his trading using channels and ABC pattern.

What is MP?

MP = market profile charts

Originally posted by jgreene

Originally posted by MassiveCashTeam

stocksster - i wouldnt call eminijunkies "junk," but do understand your reasoning.

jack greene - easyeminitrader is some good stuff too, just as well as eminijunkie. since i have 90% decided channel-trading is not a fit for me, i think the most learning that one can get is from eminijunkies. he does teaches you to learn to take fib trades based on filters, longer time frame, areas of support/resistance, etc.....but i do understand your thoughts on EJ only looking at the ES market only. i can see the argument for looking/trading more than one market. but for EJ methodology in fib retracements, i strongly believe you need to look at only one market to learn how that particular market lives and breathes. if you look at other markets at the same time, such as 4-6 markets at a time, how are you going to get intimate with all these markets at the same time? wouldnt this bring you back to vipertrading?

Thanks for your quick response. I have been looking at the DX and it's reverse effect on 6B and 6E.
I have heard master one market, one setup and it will serve you well. Will keep you posted.
Jack

Yes, the DX has a good divergence with the 6E, 6B, and ES. But not always. Maybe on longer term charts (daily and weekly), the DX is good indicator for the 6E, 6B and ES. But as intra day traders, I wouldnt use the DX tic by tic to trade the 6E, 6B or ES....

If MP is your choice then definately get Daltons book...heck even if it's not for you get the book ...lots of great ideas/concepts in that book...could help improve any method I beleive....

Thanks for the detailed response....

We already mentioned JPJ trading room...he has specific trades that he looks for every day that are not discretionary...but the stop loss is.....you will also learn the profile .

I know it sounds like I'm pushing MP and I am...! I have no affiliation with JPJ but if you like a room where people share ideas on many different aspects of trading then that may work for you....a small price to pay to have some guidance for years to come if you really plan to stay in the business of trading

the 1200 or 1400 he charges for a lifetime membership may be a small price to pay to be joined up with an elite group who care....

I'm cheap and only joined for a month as a voice room would drive me crazy but everyone is different....

EminiJunkie seems fairly robust and specific from your comments too...and cheaper....perhaps start there and getthe $20 dalton book...synthesize the approaches which is what we all end up doing anyway

Thanks for keeping us involved in your journey

Originally posted by BruceM

If MP is your choice then definately get Daltons book...heck even if it's not for you get the book ...lots of great ideas/concepts in that book...could help improve any method I beleive....

Thanks for the detailed response....

We already mentioned JPJ trading room...he has specific trades that he looks for every day that are not discretionary...but the stop loss is.....you will also learn the profile .

I know it sounds like I'm pushing MP and I am...! I have no affiliation with JPJ but if you like a room where people share ideas on many different aspects of trading then that may work for you....a small price to pay to have some guidance for years to come if you really plan to stay in the business of trading

the 1200 or 1400 he charges for a lifetime membership may be a small price to pay to be joined up with an elite group who care....

I'm cheap and only joined for a month as a voice room would drive me crazy but everyone is different....

EminiJunkie seems fairly robust and specific from your comments too...and cheaper....perhaps start there and getthe $20 dalton book...synthesize the approaches which is what we all end up doing anyway

Thanks for keeping us involved in your journey

Bruce, thx for your comments...yes, I have read all the rave reviews on JPJ, but dont know if I can get into a trade room that has no video...I guess it has to grow on me....does he offer free trial? dont know if I want to spend that one time lifetime cost off the bat knowing it has no live video of his charts.....

Yes, my journey is very long indeed, i will not give up....this is what I want to do for a living someday.....

Originally posted by BruceM

If MP is your choice then definately get Daltons book...heck even if it's not for you get the book ...lots of great ideas/concepts in that book...could help improve any method I beleive....

Thanks for the detailed response....

We already mentioned JPJ trading room...he has specific trades that he looks for every day that are not discretionary...but the stop loss is.....you will also learn the profile .

I know it sounds like I'm pushing MP and I am...! I have no affiliation with JPJ but if you like a room where people share ideas on many different aspects of trading then that may work for you....a small price to pay to have some guidance for years to come if you really plan to stay in the business of trading

the 1200 or 1400 he charges for a lifetime membership may be a small price to pay to be joined up with an elite group who care....

I'm cheap and only joined for a month as a voice room would drive me crazy but everyone is different....

EminiJunkie seems fairly robust and specific from your comments too...and cheaper....perhaps start there and getthe $20 dalton book...synthesize the approaches which is what we all end up doing anyway

Thanks for keeping us involved in your journey

Would you please furnish more info on the Dalton book. Title, isbn, etc.
Sounds like a must read.
THX

You are 100% right. I was a member too for a few months and I learned a lot from him but the daily videos are not telling the whole truth. The video results are based on the first touch of the entry or provit price. In real live trading that almost never happens. The price has to go thru. that's why the video results are not correct. But for the amount of money you pay for his service, it is absolutly worth it. I didn't buy the DVD.

Originally posted by MassiveCashTeam

I've been with EJ since late last year, off and on. Here are my thoughts so far:

Pros-
He has a set of rules in his trading plan, no if's and or buts. Those are his rules to follow by when you are just starting his trading plan progression. In his progression plan, he suggest you learn his system day by day by adding each of his indicators one by one and learning how to use them week by week. Should take you about 8 weeks to get through the first go around. Once you are more experienced, he will teach you how to better filter these rule based trades to be more profitable. In his live room, he is a teacher, meaning he will not stroke you and make you feel good if not warranted. He will come down hard on you if he feels you made a dumb mistake. You need thick skin if you are shooting from the hip. His rule sets are based on trading 50% fibs pullback after some MA's crosses. In the past I didnt really believe in fibs (read my other thread on fib's), cause you can make argument that there is a fib level on every bar on the chart, which is true. But I do believe EJ, use several filters and support/resistance levels to take the most high probability fib set-up. He has many training video's in the members forum, and the other members truely help each other out. There are no bashing on the EJ method in the forum, which is amazing. Usually you will get a few members bash a system in the members forum. He also has DVD for purchase if you want to speed up your learning curve. He also only trades in the morning session only. He posts and reviews each system trade set-up at the end of the day for a final net tick(s) on the day if you had traded every single trade entry for the entire day. This will lead into my cons now.

Cons-
His end of day results videos will show net tic(s) on the day, which 99.5%, the day will end net positive. Here is my issue, he preaches to trade only morning session, but yet posts net results for entire day. I dont agree with this, most likely a sales technique, cause these videos go out to non members who subscribe to his feeds on his site. Also he has 2 basic entries using fib drawings. The first and main is the 50% pullback using the high/low of the previous swing before his moving avg's cross. This is good, but if the move is fast and doesnt pull back far enough and just runs away, he will say it was a fib extension trade. I dont agree with this him adding this trade winner to his results video, because this type of trade is usually too fast to take an entry and most of us will miss it. So I do believe he adds these trades to his results video as sales technique for his memberships, oh well....That is my only gripe.

Hope this helps, because it helps me as well in evaluating these live rooms when I put in down in writing as well.....