EminiJunkie.Com

Originally posted by day trading

Originally posted by MassiveCashTeam
there are members with EJ that are making money. they select certain different types of trades to take pending their style.

How do you know they are making money? Because they say they are or because you have seen their audited statements?

See Chuck Hays and Madoff et al for examples of "traders" who had sophisticated and intelligent investors fooled for years.

Originally posted by day trading

I agree with Jim. It's unlikely that you need a room. It looks like you're prepared to work hard at becoming successful and usually it's the less motivated that look for trading rooms as an "easy" way to riches. I think that you would do well reading books and researching the internet and finding and evaluating publicly available systems. Remember that all the systems that these "rooms" sell are publicly available systems that have a bunch of marketing wrapped around them.

Originally posted by jgreene
How do you go about finding publicly available systems to test? What search criteria should one use?

Originally posted by maxblaser

you know im a chaep guy and i use a hat on paltalk called es call room the guy calls out his entries according to his priotary system , whoever he is he is cold and calculating, there is no chatting allowed in the room, only calls , and from his calls you can learn he is pretty darn accurate, what it did for me was to be able to match my system, indicaters to a working system , and yea he is pretty done ok and its FREE

Originally posted by maxblaser

you know im a chaep guy and i use a hat on paltalk called es call room the guy calls out his entries according to his priotary system , whoever he is he is cold and calculating, there is no chatting allowed in the room, only calls , and from his calls you can learn he is pretty darn accurate, what it did for me was to be able to match my system, indicaters to a working system , and yea he is pretty done ok and its FREE

Originally posted by day trading

Originally posted by jgreene
How do you go about finding publicly available systems to test? What search criteria should one use?

Reading forums and web sites. Communicating with other traders via email, skype, private message, on forums, in chat rooms etc.

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.....