Trickery in Many E-Mini Trading Rooms?
Trickery in Many E-Mini Trading Rooms?
If I am having a bad day, I tend to browse the e-mini trading room just to see what other individuals are trading. Generally, these visitations occur at times that the markets have been in a restricted range and I am just plain bored. Although I've not been in every one of the 600 rooms available on the Internet in the moment but I've seen some similarities between some of the major ones. However, the CFTC has played some fairly stringent requirements (though these regulations seem to be not enforced as rigorously) regarding how trading companies report their the results and market their services. This is why a lot of rooms currently do not make specific trades, but provide general guidance whenever they believe they see a high-risk trade in the process of developing. In general, I've found it difficult to be impressed with the trading rooms I've been to so far. There may be some great trading rooms out there and I have just not visited them yet. I have a fundamental issue with trading rooms, in general. The fact of the matter is that they don't train you how to trade. I believe that the main goal of each trader should be to acquire the capability to trade with no fear of making mistakes. A well-trained trader should be able trade MT4 Indicators without any third-party who is making questionable trade calls. If you are in a room where the trader who is leading handles all calls it is only just as proficient as the trader who is leading calls. It's not a recipe to ensure a profitable trading experience. I had a few thoughts about transparency in trading rooms. It seems to me, that trading rooms do not have adequate transparency when disclosing trades and the method of trading. This is understandable, considering that this severing of their trading methodology is likely to render any trading platform useless. If you know how the trader is initiating trades, you would not need him or her. I believe transparency is vital; so I set out to address this issue inside my room for trading. I manage a tiny space and prefer to keep it that way , as I give everyone an opportunity to speak on the mic and to ask questions about when, why, and how I am initiating a trade. In my opinion, trading rooms can be an excellent educational tool for those who want to help you learn how to trade, but it's not a perfect place for most people to make money. After hearing about all the criticisms from previous students about trading spaces, I made the decision to make live trades with my DOM up. This comes with a risk, because the results of my trading will be visible to everyone. However, I am blessed with an extremely high percentage of winning and this strategy has been working great for me. I view it as an opportunity to show off my skills in trading without hiding my actions and how I find high-risk trades. Oh, I should mention that I don't always win every trade and my losses appear on my DOM for everyone to be able to see. Furthermore, I've experienced one or two days where I lose money, and that data is displayed for all to be able to see. It's a little embarrassing, but the transparency of the room is valued by all traders, and I have found them to be supportive when I've made a trade that was not able to come to fruition. My recommendation is to locate a solid room where the principal trader is making trades that you can verify using the information provided. If the trader can't reveal the results of his trading there has to be a reason. It's up to you determine the cause. A final source of contention is sharing old statement of transactions to find out an underlying track record. Several years ago I began posting my brokerage statement showing my gains for all to review. There have been some incredible months , and others that were dogs. This is what happens when you trade in the long run, so long as the equity curve of your company is growing smoothly, the rest is an element of your process. My advice? Find a space that is open and one that will teach you the strategy that the lead trader is using, otherwise you're just wasting time.  

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