scose-no-doubt
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it sure does
Isn't that known as the Nick Leeson strategy?
Rossini
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Wonder if someone recorded it, maybe it will appear online?
stephenfrankel
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Whilst Rob Hoffman may have lost 300k, I have been in his live room and seen him make money, not huge huge amounts but certainly $2000 in one day- not bad, wish I could do that!
He just forgot his rulebook that day. I am sure he will make the money up pretty quickly and learn from his mistake.
nobody's perfect!
He just forgot his rulebook that day. I am sure he will make the money up pretty quickly and learn from his mistake.
nobody's perfect!
BeginnerJoe
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You can do that. Give me 300k and I will give you 2k for each day for a whole month including weekends when the markets are closed. If that isn't a good deal, I don't know what is.
MeorientInc
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never heard about him... but it seems he make a big mistake!!
the_coumiester
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It's just refreshing for us "Low folk" hear that an "expert" can absolutely fail when it comes to trading. Yes. We enjoy his misery because we all WISH we could blow 300,000$ and be fairly "meh" about it. Besides, he probably has it all back in a while anyway.
Shakone
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IF you have an account where you can lose 300k, and you're willing to average down on all losers until you are in profit, then I don't think 2k in a day is impressive at all. Risking 100% perhaps several times a day to make 0.67% at best on the day is pretty poor.
I think this guy, Hubert and John Carter have all been found out at one time or another. Hoffman was the only once caught so explicitly. Must be tough to live a lie, and then get found out.
I think this guy, Hubert and John Carter have all been found out at one time or another. Hoffman was the only once caught so explicitly. Must be tough to live a lie, and then get found out.
$300,000 is nothing. One trader at UBS just blew $2 BILLION ( and still counting). :clap:
That is surely worth a big bonus :cheesy:
wackypete2
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Yeah, I read that too. How that still happens in this day and age I'll never know. But don't worry, they'll probably get a nice bailout package.
Peter
miketrader845
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I really feel obligated to write this review in light of the traders out there that may loose a ton of money following robs trades and/or get an extremely skewed view of Rob's live trading room. I will describe my current experience in his room (that will end in one month), post a picture of his risk/reward, and list several cons, and pros.
I was shocked when I came to this website and saw that all the way back to 2009 people were still saying the same exact thing as I am now. Though the current situation seems worse. Like the others say, he is a great guy, nice guy, feels like he cares about you guy. Turns out he isn't SO much different than the rest, though he is a bit different. This may be a bit long, but only because I want it to be detailed and hopefully I can really help some people from falling into the trap he creates. If you still want to learn it, that is up to you but I just want you to know what it is especially if you are trading on a small account and are really taking a risk joining his service.
Have you ever heard the expression "putting 100 on 10"? Well that describes Rob in one statement. I will go ahead in full disclosure and say his information is definitely good stuff. BUT, his information and his "live trading" room are two totally different things. He will typically put out a "deal" for $799 a quarter giving out all of his video courses with setups, trend following, and various rules to abide by that he made several years ago. If you really are interested in learning his stuff, do that. DO NOT just buy a quarter for the room at the price of $999 or even $799 if he ever lowers it, it is not worth it. And DO NOT EVER follow his trades or even trade remotely close to how he does. His psychology is completely trashed because of his winning trade mentality.
Now, this is a typical day in the room. The room is only 2 hours and 45 minutes to begin with. For the first hour everyday we go over things that everyone can clearly see on the charts like his moving average support & resistance or key levels, this would take any person that actually was trying to trade 5-10 minutes. Then during the second hour Rob may randomly pick out a trade that most of us have no idea why he is taking and he scalps 2 or 3 ticks out of it. Then after that trade is done we spend the rest of the day listening to him talk about why he isn't trading and why he took that trade for 2 ticks. I know why he does this, its because he is extremely scared of loosing a trade. As you can see in the other comments, its because he will keep adding to a trade until he can get out for 1 tick profit. His psychology is so screwed up he cant handle taking a loss, and instead he only takes losses when he is forced to while he is down $10-$15k. The reason he can't handle taking a loss is because he wants to "wow" people by saying he has done 8-9-10 months or whatever without losses. He will also pick a market direction and we will all sit and watch the market go in that direction and he will sit there and talk about how right he was. Like I said, he has good information but he just cant trade it for the life of him. Whatever the reason may be, whether its that he relies on sub fees or his psychology is shot out the window or he is so worried about what people will think of him if he takes of loss, that is just how it is. He will often talk about how these $50-$100 profits adding up over time. This is assuming you never loose money. Just understand that he is scared to hold for more than 5 minutes so he will try to talk you into doing the same thing, don't fall for it or you will never grow your account. Also I would like to add that he bases everything off of his indicators. Literally every setup and every trade. Why do you think that is? So you will pay the $2000 for them. Well I am here to tell you right now you dont need to do that. Those indicators are nothing special and they are not even his to sell. That is all Im going to say about that besides do not buy them, one day you will be very very pissed off that you did and trust me, I am very glad I didnt.
This is a perfect example of Rob. Lately he had someone over to his house (one of his "long term" students) and he treats them a lot better than regular subscribers. So apparently they were taking some "large lot" trades and had a great afternoon Monday after the room closed. So we spend the entire rest of the week hearing about how great that one afternoon was and why we weren't trading because the conditions weren't like that one afternoon. He will bring up anything he possibly can to get out of taking trades.
Now onto the free videos released every night. When Rob says something like "well that trade only gave us 70 ticks today" he means he used 20 contracts and made 3 ticks. That is putting 100 on 10. He is also trying to downplay those "70 ticks" so its sounds like we rode out the market and ONLY made 70 ticks on the trade like we usually ride it for 150 or something. When he talks about "great trading" or "extremely profitable trading" or "successful profits" he means he made 2-5 ticks on the day. He will never put up his DOM because then you will see he is full of it. Why do you think he picks random days/videos to show his DOM with some profits on it?
You may ask, why he is sponsored by NADEX, CME, infinity futures, trade-station, and other prestigious institutions? Its because he makes tons of money on subscribers. He has lots of influence over lots of people. They don't care if he trades or his members trade or if anyone makes money. They care about their incentive to sponsor him.
His trading competitions. He claims that he is a domestic & international trading champion. Well, that may be true. But, its the competitions that he enters into is the question. See here we go with the putting 100 on 10 thing again. The competitions he enters are things like the money show, traders expo, some thing in Paris he goes to every year. The people he is trading against are a bunch of scammers. Of course he is going to win, he uses massive size on 3 tick trades. If he entered into the World Cup of Futures trading I don't think the outcome would be the same. International? What about the Singapore Futures Trading Competition? I mean anything that is well known and prestigious. He claims that he will teach you all his strategies that he uses to win the competitions. That is not true. Like I said earlier, he treats his long term students with priority over new traders (that need his help the most by the way). Even with them I doubt he lets out the key information that allows him to take the trades he does, but maybe he does. I don't know, I'm not one of them obviously.
Now for the dangerous part, his risk reward and lack of informing new comers of his dangerous trading habits in light of not wanting to take a loosing trade when he should be cutting it loose. This was my experience. I come to the room, first week I feel around, second week I get comfortable and start taking the trades with him. I made about 6 ticks per contract (more than he did) on the first few trades. Then about a week later, he took a trade with one contract. Price shot down against us and he added 5 contracts. I cut the trade, it didn't do what we expected so I cut it. Turns out that was the right thing to do because before I knew it he was in 30 contracts and down $12k. Remember he would have trailed the stop right behind and got stopped for 2 or 3 ticks had it gone his way. I was like wow, well OK he will probably make it back since we have been talking about larger trades coming. Never happened. We just forgot about the massive loss and moved right along taking 4 tick trades. Obviously after that I never followed a trade of his again. Which also proved to be the right move because a few weeks later he did it AGAIN! This picture is the SECOND time in a month this happened: Image - TinyPic - Free Image Hosting, Photo Sharing & Video Hosting You can see the "great trading" he was doing before that netting a profit of $30.
So I really do hope you take all of this into consideration, and at the very least understand that he is a marketeer just like any other salesman. I do believe he has better information than most but he WILL twist words around to make himself sound a lot better than he is, he WILL bend the past to make it sound better than it was, and he WILL take your money and try to convince you that you need to stay for the long term. 100 on 10, remember that.
I was shocked when I came to this website and saw that all the way back to 2009 people were still saying the same exact thing as I am now. Though the current situation seems worse. Like the others say, he is a great guy, nice guy, feels like he cares about you guy. Turns out he isn't SO much different than the rest, though he is a bit different. This may be a bit long, but only because I want it to be detailed and hopefully I can really help some people from falling into the trap he creates. If you still want to learn it, that is up to you but I just want you to know what it is especially if you are trading on a small account and are really taking a risk joining his service.
Have you ever heard the expression "putting 100 on 10"? Well that describes Rob in one statement. I will go ahead in full disclosure and say his information is definitely good stuff. BUT, his information and his "live trading" room are two totally different things. He will typically put out a "deal" for $799 a quarter giving out all of his video courses with setups, trend following, and various rules to abide by that he made several years ago. If you really are interested in learning his stuff, do that. DO NOT just buy a quarter for the room at the price of $999 or even $799 if he ever lowers it, it is not worth it. And DO NOT EVER follow his trades or even trade remotely close to how he does. His psychology is completely trashed because of his winning trade mentality.
Now, this is a typical day in the room. The room is only 2 hours and 45 minutes to begin with. For the first hour everyday we go over things that everyone can clearly see on the charts like his moving average support & resistance or key levels, this would take any person that actually was trying to trade 5-10 minutes. Then during the second hour Rob may randomly pick out a trade that most of us have no idea why he is taking and he scalps 2 or 3 ticks out of it. Then after that trade is done we spend the rest of the day listening to him talk about why he isn't trading and why he took that trade for 2 ticks. I know why he does this, its because he is extremely scared of loosing a trade. As you can see in the other comments, its because he will keep adding to a trade until he can get out for 1 tick profit. His psychology is so screwed up he cant handle taking a loss, and instead he only takes losses when he is forced to while he is down $10-$15k. The reason he can't handle taking a loss is because he wants to "wow" people by saying he has done 8-9-10 months or whatever without losses. He will also pick a market direction and we will all sit and watch the market go in that direction and he will sit there and talk about how right he was. Like I said, he has good information but he just cant trade it for the life of him. Whatever the reason may be, whether its that he relies on sub fees or his psychology is shot out the window or he is so worried about what people will think of him if he takes of loss, that is just how it is. He will often talk about how these $50-$100 profits adding up over time. This is assuming you never loose money. Just understand that he is scared to hold for more than 5 minutes so he will try to talk you into doing the same thing, don't fall for it or you will never grow your account. Also I would like to add that he bases everything off of his indicators. Literally every setup and every trade. Why do you think that is? So you will pay the $2000 for them. Well I am here to tell you right now you dont need to do that. Those indicators are nothing special and they are not even his to sell. That is all Im going to say about that besides do not buy them, one day you will be very very pissed off that you did and trust me, I am very glad I didnt.
This is a perfect example of Rob. Lately he had someone over to his house (one of his "long term" students) and he treats them a lot better than regular subscribers. So apparently they were taking some "large lot" trades and had a great afternoon Monday after the room closed. So we spend the entire rest of the week hearing about how great that one afternoon was and why we weren't trading because the conditions weren't like that one afternoon. He will bring up anything he possibly can to get out of taking trades.
Now onto the free videos released every night. When Rob says something like "well that trade only gave us 70 ticks today" he means he used 20 contracts and made 3 ticks. That is putting 100 on 10. He is also trying to downplay those "70 ticks" so its sounds like we rode out the market and ONLY made 70 ticks on the trade like we usually ride it for 150 or something. When he talks about "great trading" or "extremely profitable trading" or "successful profits" he means he made 2-5 ticks on the day. He will never put up his DOM because then you will see he is full of it. Why do you think he picks random days/videos to show his DOM with some profits on it?
You may ask, why he is sponsored by NADEX, CME, infinity futures, trade-station, and other prestigious institutions? Its because he makes tons of money on subscribers. He has lots of influence over lots of people. They don't care if he trades or his members trade or if anyone makes money. They care about their incentive to sponsor him.
His trading competitions. He claims that he is a domestic & international trading champion. Well, that may be true. But, its the competitions that he enters into is the question. See here we go with the putting 100 on 10 thing again. The competitions he enters are things like the money show, traders expo, some thing in Paris he goes to every year. The people he is trading against are a bunch of scammers. Of course he is going to win, he uses massive size on 3 tick trades. If he entered into the World Cup of Futures trading I don't think the outcome would be the same. International? What about the Singapore Futures Trading Competition? I mean anything that is well known and prestigious. He claims that he will teach you all his strategies that he uses to win the competitions. That is not true. Like I said earlier, he treats his long term students with priority over new traders (that need his help the most by the way). Even with them I doubt he lets out the key information that allows him to take the trades he does, but maybe he does. I don't know, I'm not one of them obviously.
Now for the dangerous part, his risk reward and lack of informing new comers of his dangerous trading habits in light of not wanting to take a loosing trade when he should be cutting it loose. This was my experience. I come to the room, first week I feel around, second week I get comfortable and start taking the trades with him. I made about 6 ticks per contract (more than he did) on the first few trades. Then about a week later, he took a trade with one contract. Price shot down against us and he added 5 contracts. I cut the trade, it didn't do what we expected so I cut it. Turns out that was the right thing to do because before I knew it he was in 30 contracts and down $12k. Remember he would have trailed the stop right behind and got stopped for 2 or 3 ticks had it gone his way. I was like wow, well OK he will probably make it back since we have been talking about larger trades coming. Never happened. We just forgot about the massive loss and moved right along taking 4 tick trades. Obviously after that I never followed a trade of his again. Which also proved to be the right move because a few weeks later he did it AGAIN! This picture is the SECOND time in a month this happened: Image - TinyPic - Free Image Hosting, Photo Sharing & Video Hosting You can see the "great trading" he was doing before that netting a profit of $30.
So I really do hope you take all of this into consideration, and at the very least understand that he is a marketeer just like any other salesman. I do believe he has better information than most but he WILL twist words around to make himself sound a lot better than he is, he WILL bend the past to make it sound better than it was, and he WILL take your money and try to convince you that you need to stay for the long term. 100 on 10, remember that.
NVP
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some of us here at T2W will keep saying it until they carry us away in a box or a van....
Dont pay other people for things you could (and should) learn yourself over time
if you want company during those long Trading hours then dont pay for it ..........and especially not to guys like this .........they are gambling your subscriptions - not theres
nice thread
N
Dont pay other people for things you could (and should) learn yourself over time
if you want company during those long Trading hours then dont pay for it ..........and especially not to guys like this .........they are gambling your subscriptions - not theres
nice thread
N
DionysusToast
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Thanks Mike. Let's hope that keeps a few people from losing money.
miketrader845
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thanks guys. i do hope it opens some eyes.
it just makes me so angry because of how he builds trust in a way that is so believable because like i said his information is good and he comes off as a trustworthy guy. i have used strategies & tools he does for a very long time before i ever gave him a shot (which are not proprietary btw, just made to look like they are so he can sell them), though not to be confused with his trading habits, i am actually managing trades not scalping one trade a week. i thought when signing up we were going to be holding multiple positions for hours maybe days, not 30 seconds once a week. all he does in his room is talk and try to come up with excuses for why he isnt trading and i know its because of his shot psychology from trying to have a high win rate to advertise. then when he finally decides to trade he will cut it after 2 ticks profit and call it a day of great profitable high probability trading. then i was just wow'd when he lost 10-12k twice in one month, not because of the monetary value but because of the size of his winners. the picture says it all.
anyway, this is what comes up when typing rob hoffman reviews on google. id be glad to answer any questions for people looking for an honest review.
it just makes me so angry because of how he builds trust in a way that is so believable because like i said his information is good and he comes off as a trustworthy guy. i have used strategies & tools he does for a very long time before i ever gave him a shot (which are not proprietary btw, just made to look like they are so he can sell them), though not to be confused with his trading habits, i am actually managing trades not scalping one trade a week. i thought when signing up we were going to be holding multiple positions for hours maybe days, not 30 seconds once a week. all he does in his room is talk and try to come up with excuses for why he isnt trading and i know its because of his shot psychology from trying to have a high win rate to advertise. then when he finally decides to trade he will cut it after 2 ticks profit and call it a day of great profitable high probability trading. then i was just wow'd when he lost 10-12k twice in one month, not because of the monetary value but because of the size of his winners. the picture says it all.
anyway, this is what comes up when typing rob hoffman reviews on google. id be glad to answer any questions for people looking for an honest review.
miketrader845
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couldnt figure out how to edit that last post, but id like to add the strategies and tools i am referring to can all be found in the free videos he posts (specifically the professional series, accumulation/distribution, multi-time frame, the moving avgs, stock index correlations, trailing stops [but in a more sensible fashion], support/resistance, etc.) and that is all good stuff i can back that up but its also all he is good for.. he is not a real trader, period.
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