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Trickery in Many E-Mini Trading Rooms?
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Trickery in Many E-Mini Trading Rooms?
If I am experiencing a down day, I tend to browse a few e-mini trading rooms to see what individuals are trading. Generally, these visitations occur at times that the markets have been in a narrow range and I'm just plain bored. While I have not been in every one of the 600 rooms that are available on the Internet at present I have noticed some similarities among some of the more popular ones. It is true that the CFTC has enforced some rather stringent requirements (though these rules appear to be largely ignored) regarding how trading companies report their profits and advertise their services. Because of this, many rooms currently do not make specific trades but issue general guidelines when they see a high-risk trade being developed. In general, I have found it difficult to be impressed with the trading rooms I have visited to date. There are some fantastic trading venues out there. I've not yet visited them yet. I have a basic problem dealing with trading spaces in general. The truth is that they don't teach traders how to trade. My opinion is that the goal of every trader is to learn the capability to trade without fear of making mistakes. A well-trained trader should be able of trading without MT4 Indicators a third-party making questionable trade calls. In a trading room where the lead trader makes all the calls the trader is only as good as the trader who is leading calls. This isn't a good situation to provide a positive trading experience. I was thinking a lot about transparency in trading rooms. It seems to me, that trading rooms are not able to provide transparency when it comes to revealing trades as well as trading methodology. This makes sense, since this severing of their trading methodology is likely to render any trading platform worthless. If you know how the trader initiates trades, you would not need him/her. I believe that transparency is crucial which is why I have set out to address this issue in my trading room. I run a very small room , and prefer to keep it that way , as I give everyone an opportunity to speak on the mic and to inquire about the time, place and the method I use for trading. In my opinion, trading rooms can be a great educational tool for learning to trade. it is not a great place for most people to earn money. Having heard all the negative feedback from former students about trading rooms I made the decision to trade live money with my DOM. It's a bit of a risk, because the results of my trading will be available to all. However, I am blessed with an extremely high rate of winning so this technique has been working great for me. I see it as an opportunity to show off my trading skills and not hide my activities and the methods I use to find high-risk trades. Also, I must mention that I do not win every trade and my losses appear on my DOM for all to view. Furthermore, I've experienced one or two days where I lose money, and that information is available for everyone to see. It's sometimes embarrassing, but the honesty of the room is well-loved by all traders, and I have found them to be supportive when I've made a trade that was not able to succeed. My recommendation is to find an established room where the principal trader is making trades that can be verified using the information provided. If a trader won't show the results of his trading there is an explanation. It's up to you to discover the reason. A final source of contention is sharing previous statement of transactions to find out some sort of performance record. Several years ago I began publishing my brokerage statements revealing my results for all to review. There have been some unbelievable years and months that were just dogs. This is the nature of trading so long as you have your equity line rising well, everything else is just an aspect of it. My suggestion? Find a room that is transparent and one that will teach you the strategy that the lead trader is using, otherwise you'll be wasting time.  

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