Hi Everybody,
Well, our first day of our live trading room trial is over.
So far, we have had alot of really good feedback!
By the way, I'm truly sorry about the confusion on how to
log into our trading room. I was sending out the wrong
instructions. I'm glad to see that despite my mistake, you
got in anyway!
We would like for you to tell us how you think our first day
went, you can reply to this post.
Your feedback will help to determine what we will do at the
end of this 3-4 week trading room trial.
We are tuckered out here, so we'll see you all tomorrow!
Julie
TradeStalker.com
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Mike, I thought the first day you did very good as I have been waiting 1 1/2 years to see you trade!!!!! I have done three other trading rooms that the professional trader was doing for the first time and they were disasters!!!! I like you calling all intraday trades as that is the way I am trying to trade. I hope you continue for years to come because of all the training that have completed you are the best trader I know. I especially appreciate getting out of trades when they do not go our way instead of hitting our stops. Great Work Ric Winters
ReplyDeleteI can only trade the first hour of the session before I have to deal with work/kids, so I was happy to see we still got good amount of scalps during that time. My only suggesstion would be to try to be a little more clear on when you are entering a trade. You did a great job at explaining what you're doing during the trade (scaling out, etc) but once or twice, I found it hard to decide to enter a trade. Great first day, looking forward to tomorrow!
ReplyDeleteHello Mike , Thank you for sharing your knowledge and time with us , I actually took one trade today , which turned out to be a nice one, I have liked very much how you explain your entries versus non valid ones , this kept me out of bad trades , I have a suggestion though is if you call in trades more like : next entry short at 980 this will give us the opportunity and time to enter our order before it's too late
ReplyDeleteApart from this detail everything went great and I am really looking forward to spending more time with you for more learning opportunities :)
Kind Regards
Soumi71
Mike, I know it is difficult to trade and moderate your trading room as I could not trade and talk on my phone or watch TV!!!! You are doing a great job and the room will get better each day!!!!! Thanks, Fellow Hoosier
ReplyDeleteVery good 1st day Mike&Julie! As time goes on, you'll get perfect at vocalizing your scalp calls and setups. I really hope you keep this up, because just to listen to how you "see" the mkt develop thru the day is worth all the time and work you've put into this.
ReplyDeleteThank you Julie, and Thank you Mike!
John (piper)
What a great job you did today! Excellent and outstanding! Both of you are very appreciated!
ReplyDeleteThanks again :)
Awesome first day for "Mike's Economic Recovery Package" designed to bail-out traders who are oh' so close and just need a wee nudge to get into the end zone on a regular basis.
ReplyDelete2 questions Mike which I think may be the same question when you give the answer -
1) When you say "Scratch the Trade" and we are in a trade, do we exit at Market?
2) When you say "I'm Flat Here" and we're in a trade, do we exit at the Market?
Again, great first day coming out of the cave.
Based on comments posted in the room today I saw everything from Newbies to Traders with a Limp. Don't let us make you nervous. You just do what you do best and over time we'll all fall into step. Thank you for the great effort on your part that I know this takes.
Blessings
CT
http://cfrn.net
It was a great day trading with Mike. I am from Singapore and able to trade only for about 2hrs due to the time zone difference. I was happy to see the scalps called in the initial hour. Keep rocking mike, hope to trade with you even after the 3-4 weeks period.
ReplyDeleteGreat Job, Mike and Julie! Everyone needs to realize that the market action is fast, especially scalps. So even if Mike is not calling exact entry, he is leading us into the setup. So slide your chair a little closer to the screen, pull on the headphones, and enjoy this maestro in action.
ReplyDeleteThank you, Mike Reed.
Bob K
Mike, Great beginning! Only one little problem. I Know you are busy "thinking out loud", but I have trouble knowing whether you have entered a trade or not and if you entered, did you scratch it. Also, exits are a little vague. It would be nice if orders showed up on the chart or in special window or DOM. Just a small suggestion. Keep up the great work!
ReplyDeleteMike, after all the discussion about doing this chat room in RBI camp, I'm so glad you gave it a try. It is a wonderful way to see you in focused action and sure helps to augment what we learned in December. It took a couple of days in camp to get the hang of exactly what was going on and your style ... I'm sure everyone will be in step with you shortly! I sure hope you find this works for you, too!
ReplyDeleteLaura Elliot
Mike
ReplyDeleteI thought this was great and feel very grateful that i came across you - I have learnt so much from your books, live CD's and your answers to my email questions in the past. Please keep this up it was brilliant and I can only see myself and others trading performance improve.
Obviously it was the first day, but if you could make it a little clearer if you are planning to enter a trade. I think someone else above mentioned that too/
Many, Many Thanks.
Scott
Thought you did a good job past two days in spite of all of us. You have many friends and good wishes.
ReplyDeleteMany Blessings,
A Relative of a Hooiser : )
Mike,
ReplyDeleteI need not tell you of all people how important focus is in trading. When you add a chat room and the requirement of having to call out your trades, now were talking about focus on steroids! Considering this, great job so far!Your experience can be extremely helpful to many traders from the new guy on the block to those that have been around for some time. I have personally gained from the experience already enough to justify my being there. I think it is key that everyone pay close attention to what your saying while watching the charts as the "little nuances" are what can make or break a trader. It is almost impossible to obtain the nuances without "time" in the seat trading, yet your "time" can be absorbed by the participants if they are open to listen and accept that information. Further, as a trader their goal should be to learn as much as they can and be less focused on the trades themselves but more on the process of learning to understand the market. The "why" you enter and exit when you do. That's what is all about for many traders who need and want to be able to trade for a living. I look forward to the Live Trading Room in the days ahead. Thanks again and the best to you and your family.
Burt
Mike
ReplyDeleteA few suggestions that I think will improve the service you provide: 1) Please try to modulate your voice a bit when referring to actual trade advice as compared to your low key speech patterns in use when you are thinking 'out loud'. 2) Many of us have distractions that prevent full attention being paid to you every minute of the day, so if you could review your open position every 3/5 minutes, some of us may be able to jump on board afterwards. If you have already scaled partial profits, that should be mentioned in the review. 3)If you could announce the type of trade under consideration, that may also prove helpful. Personally, I would understand "scalp" and "swing" but you may have other names.
Good effort your first few days and I feel you are improving every day.
DLR
Mike,
ReplyDeleteOnly had time to grab 1 trade with you today but then 1 Good Trade is really all it takes right?
Great job! I know your continued efforts are a blessing to many.
CT
http://cfrn.net
http://cfrn.net/blog
Hey Mike,
ReplyDeleteIs it possible for educational purposes to have your S/R lines drawn on your charts? Or is this something you want to reserve for people who have subscribed to your daily newsletter only?
Another suggestion would be to display your actual trading software so you didn't have to concentrate so hard on calling out trades as we could see them in realtime. Maybe this is both impractical or too personal? I was guessing you had hotcomm running on another PC which is displaying the charts only and you are trading on a separate PC so hotcomm doesn't slow it down?
Any way just some thoughts. Loving this live trading room. Looking forward to the coming weeks. God bless.
Hey Mike,
ReplyDeleteMaybe you will show Support and Resistance on chart when 3-4 week trial period is over and you raise subscription price for live trading room?
Mike, Have you been recording each session or just uploading the transcripts? Would be great if you posted the recording and/or transcripts on your site for those who have missed certain sessions. Great learning experience.
ReplyDeleteThanks for sharing your expertise.
Hi TradeStalkers.
ReplyDeleteThanks for all of the feedback, and thanks for the kind things said. I'll answer a few questions I didn't have a chance to yet.
I was asked to try to modulate my voice a bit when referring to actual trade. I'll try to do this going forward.
A suggestion was made that I move my order entry platform, Ninja, and my broker feed to the screen you see through Hotcomm.
I have Hotcomm running on a PC used for charts almost exclusively, and my trading platform is on a second PC. I have everything set up the way it works and feels best for my trading. I'd need to totally rearrange my office to fix that issue. Also, account numbers are shown through Ninja.
If I continue beyond this try out, I will put Support and Resistance lines on charts when trial period is over.
As far as recording the sessions and uploading parts, I haven't been, but it is a good idea. A few setups in the "Read the Greed - LIVE" course are on site already.
Good trading to you all!
regards,
Mike
Mike,
ReplyDeleteI had thought your setup was using 2 PCs which makes displaying your order entry difficult. I use NinjaTrader as well and am recording the data as I am not always able to be at the screen due to work and timezone. Are you able to send us/display all your trades for the day ie entries, exits and initial stop placement? In this way we can learn by replaying the data and practicing our entry/exit techniques on the trades we know you made? I know Ninja records all trade executions on the chart and table as far as entries and exits. Not sure about stop placements though. Thoughts?
Mike, I'm using Ninja. When placing orders do you use the DOM, the chart or do you use the Control centre and type in the entry and exit values? Thanks.
ReplyDeleteI use the DOM to place and manage my trades. I haven't used their charts. My set-up is just as I like it and don't plan on changing things.
ReplyDeleteMike