schooloftrade & James Wave

Please provide any Feedback


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Hi Pamela, The feedback i received about SOT are the posted here, so you've probably read them too. I enjoyed my 3-week trial and did learn a lot from Joseph James. For one, I took away a new approach to my targets and stops, which I've successfully incorporated into my trading. The guy knows his stuff and does a good job of expressing/teaching it. I just do not understand why the seemingly exaggerated claims. I have a fast data feed and broker connection, and it certainly appeared to me that he would decide "pass" on a trade (due to "no big buyers", or "no pace of the tape") well-after the trade had already triggered. Everyone else had been stopped out. It happened many times. He would often announce he's in a trade only after several ticks of profit and his first target had been reached. It seemed from his comments that many people in the room were posting their frustration ( but you cannot see those posts). They didn't take the winner that he took, or the did take the looser that he passed on. He would often dismiss those frustrations as being due to that person's slow internet connection or would imply that the proprietary indicators would solve that problem. I just cannot see how that is possible, nor I have found any review that supports that to be the case. If you want a high energy, informative chat room moderator to trade with each day, then maybe SOT is worth the money for you. Trading can otherwise be a lonesome business. But I think you'll have to temper your expectations of huge profits. In many years I have yet to find a chat room, paid or free, that makes you a profitable trader. "If it works, why don't they just do it?"
It took me a long time to learn that I am the only person looking out for me, not any seller of trading success. I'm modestly profitable and still learning the mental discipline necessary to let my winning trades run, and accept my stops. Blaming someone else, like Mr. James, for one's own lack of success is not only futile, it prevents one from addressing the real roadblocks to their success. I hope this helps.


Hi John,

We are looking at School of Trade as well - just wondering if you received any replies or have gained any knowledge on Joseph James?

Many thanks

Pamela Cherry
 
Dougallen,

You seem to have missed the point.Let me explain this clearly for you. The point here is quite simple, JJ publicises details of his profit & loss account daily, showing amazing profit results. He does this under the pretence that these results are REAL - THEY ARE NOT REAL. JJ misrepresents the success of his trading results because his trades are SIMULATED and NOT MADE WITH A LIVE TRADING ACCOUNT.

IFJJ traded a LIVE account his results would show a LOSS not a PROFIT and then nobody would be interested in his LIVE TRADE ROOM or listening to JJ. Of course, this is the precisely reason why JJ has to trade in SIM. When I first made my review of SOT JJ was still lying to his guests and members by insisting that he traded a LIVE ACCOUNT in his trade room. I believe these days he has now started admitting he trades in SIM but tries to pretend his "brother" trades his system using a Live account, LOL what a joke! Frankly anybody can become a profitable SIM trader and this is exactly what JJ can teach you to do.

Why do people pay JJ over $3500? Is it to join a trading room, have some fun and learn how to make SIMULATED PROFITS, NO. They pay the money because the think JJ will teach them to earn the PROFITS AND REAL MONEY! This is fraud by deceit and misrepresentation of results.

I cannot understand why you are trying to articulate value in something which quite simply is a scam, unless perhaps you are in some way affiliated to SOT? Funny how this tends to be the case when reading positive comments regarding SOT.

JJ tries to dress up his trade room with lots of nice valuable trading tips and information which can be obtained freely all over the internet, no need to pay $3500 for information which is freely available.


Hi Pamela, The feedback i received about SOT are the posted here, so you've probably read them too. I enjoyed my 3-week trial and did learn a lot from Joseph James. For one, I took away a new approach to my targets and stops, which I've successfully incorporated into my trading. The guy knows his stuff and does a good job of expressing/teaching it. I just do not understand why the seemingly exaggerated claims. I have a fast data feed and broker connection, and it certainly appeared to me that he would decide "pass" on a trade (due to "no big buyers", or "no pace of the tape") well-after the trade had already triggered. Everyone else had been stopped out. It happened many times. He would often announce he's in a trade only after several ticks of profit and his first target had been reached. It seemed from his comments that many people in the room were posting their frustration ( but you cannot see those posts). They didn't take the winner that he took, or the did take the looser that he passed on. He would often dismiss those frustrations as being due to that person's slow internet connection or would imply that the proprietary indicators would solve that problem. I just cannot see how that is possible, nor I have found any review that supports that to be the case. If you want a high energy, informative chat room moderator to trade with each day, then maybe SOT is worth the money for you. Trading can otherwise be a lonesome business. But I think you'll have to temper your expectations of huge profits. In many years I have yet to find a chat room, paid or free, that makes you a profitable trader. "If it works, why don't they just do it?"
It took me a long time to learn that I am the only person looking out for me, not any seller of trading success. I'm modestly profitable and still learning the mental discipline necessary to let my winning trades run, and accept my stops. Blaming someone else, like Mr. James, for one's own lack of success is not only futile, it prevents one from addressing the real roadblocks to their success. I hope this helps.
 
Hi newt24
Yes, I used Zen Fire, and for the record I found it to be a fast and reliable feed. I have tried PATS connection also which in my opinion was slower, filtered data and less reliable, not to mention the daily disconnect which required you to stop and restart Ninja Trader to re-establish the connection, inferior set-up compared to Zen Fire.

And for any readers pondering the question whether the data feed is having some impact on the entry fill prices that can be achieved in relation to trading SOTs system. Well , frankly its irrelevant. Entry fill in SIM is mostly going to be several ticks better than the entry fill you will get placing a LIVE order with the exchange. With a system built around a 4 tick first profit target and a 6 tick stop loss then 2,3,4+ tick difference in your entry price really is the difference between PROFIT & LOSS for the majority of these scalpy trades. This is precisely why JJs P&L sheet is make believe and maintained in MS excel spreadsheet rather than showing you a real broker statement from a LIVE trading account.


Hi LloydH

When you tested the strategy with "real" money, did you use Zen-fire data feed?
 
Just thought I would post an SOT propaganda email that I managed to intercept, what do you reckon t2w? almost 300 ticks a day can be earned at SOT with a very small investment, should be all be flocking there to make our fortune or what?


quote JJ

Hey guys,
We saw 2 things that made us money on Crude Oil today…
- Trading inside a wedge pattern
- Trading inside the trading range from yesterday
Crude Oil gave us two easy trades when it broke out before 900am EST today and our morning prep made it all possible.
The Dollar Index also helped us out today when it broke its overhead resistance and gave us a HUGE winner on the Mini Russell just before we finished the day.
Another record-breaking trading day, we earned over 290 ticks on 4 contracts!
Click Here To Watch This Video On Our Blog
Hope it helps, have a great day. See you tomorrow in the live trade room, 7:45am EST.
 
hello folks,

Lloydh, let me know please, you think JJ cheat when he show his real trades in the room?
I saw your post about an hypothetical replay,delay or lag with his data, but what I can't understand is why in this case I have exactly the same price that him with another broker (Dukascopy).
I have monitored the crude oil for 2 days this week, and his price is same that our broker here in Europe
Where am I wrong?
Actually I am testing his room for free and what I saw is correct for the moment.I should admit he's good marketer (like every good scamers) he s talking like a rubbish shopper or an used cars sailor, but it is his job and nothing criminal yet.
I did not purchase his stuff yet, cause I am still suspicious.
 
ichthus,

-1- Are you trading a LIVE account or in SIM ?
-2 ask JJ to show you his trading DOM before , during and after he enters any trade, confirm if the trade is made in SIM or against a LIVE account.

regards
Lloyd


hello folks,

Lloydh, let me know please, you think JJ cheat when he show his real trades in the room?
I saw your post about an hypothetical replay,delay or lag with his data, but what I can't understand is why in this case I have exactly the same price that him with another broker (Dukascopy).
I have monitored the crude oil for 2 days this week, and his price is same that our broker here in Europe
Where am I wrong?
Actually I am testing his room for free and what I saw is correct for the moment.I should admit he's good marketer (like every good scamers) he s talking like a rubbish shopper or an used cars sailor, but it is his job and nothing criminal yet.
I did not purchase his stuff yet, cause I am still suspicious.
 
As LloydH has said in many of the posts there, JJ is using SIM, if you follow JJ trades on SIM you WILL make money (over $1000 a day), but try using a LIVE account, and follow the same trades he calls out to the the newbies/members.

Trading using a LIVE account becomes a different ball game, you will lose money.
 
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Yes LOYD, Pam, and others, I have been watching s.o.t. since Jan. The only thing that stopped me from sending him 3600 dollars to join is that same Trade management window that Joesph James uses that you spoke of loyd. It seemed to me to be very suspicious. During his trading morning he will speak of trades that are about to happen and get ready here it comes .. or hell pass at last second saying it was a high risk trade. But that T.M.Window he has can be dragged in to the viewers window or not as he wants at any time. So... if he sees his trade going well , he shows the trade live in action and drags it into view! (There's always a slight delay till he shows it) for good reason. but if it starts out bad he doesn't show the T.M.W.! and then says it was high risk and he passed on it when actually he and his brother was in it but didn't show it to the viewers. They just show the good trades. I have seen this many times also. With a lot of jibber jabbering and repeating words like a snake oil salesman. The delayed t.m.window gave it away and also no real broker statement from a LIVE trading account.
 
One only question to you guy's.

if the strategy is 100% on SIM, surely it must drop down to let's say 70% in the real world. Am I correct in saying this? So are ALL people using the SOT losing out in a LIFE account?

P.S. What does "The delayed t.m.window" mean? do you mean the trade management window, in which case, it isnt delayed? or am I missing the point?

Thankyou
 
Newt24, I don't believe its 100% in SIM, I understand that JJ does mostly hide all the losing trades from view, perhaps slipping the odd loser in here and there to make things look realistic. I traded this system using a LIVE account for several months, yes I had maybe 2 or 3 winners out of 10 but overall I lost my money.

As I mentioned in my video a 20% success rate can be achieved by simply submitting trades at random.

One only question to you guy's.

if the strategy is 100% on SIM, surely it must drop down to let's say 70% in the real world. Am I correct in saying this? So are ALL people using the SOT losing out in a LIFE account?

P.S. What does "The delayed t.m.window" mean? do you mean the trade management window, in which case, it isnt delayed? or am I missing the point?

Thankyou
 
They're all basically crap. I only trust text based services, that give trades well in advance. Then you can easily go back and check, and there's no hiding involved.
 
yes newt24, s.o.t. drag and drop t.m.w. into view. In legal terms this might be " Theft by deception"
 
Entry fill in SIM is mostly going to be several ticks better than the entry fill you will get placing a LIVE order with the exchange. With a system built around a 4 tick first profit target and a 6 tick stop loss then 2,3,4+ tick difference in your entry price really is the difference between PROFIT & LOSS for the majority of these scalpy trades. This is precisely why JJs P&L sheet is make believe and maintained in MS excel spreadsheet rather than showing you a real broker statement from a LIVE trading account.

Dear LloydH,

My quotes are lives from CME group itself (google CME E-quotes).
Sometimes I saw some difference between his quotes and mine not during slow market but when it moves.
You are right, I saw a lot of trades with few pips,below 10 pips.I don t think it is possible to have same results.
As you said there is not the broker windows where you are able to see his currents trade for compare your entries or check if you did not missed a trade.
Yesterday he call for short and when the market gone against him he have stopped to talk about this short.Not clear at all.
Today he hide a loss not too much 10 pips, someone in the room ask about that,he said sorry he had forgotten about it, but later he did not wrote it in his spreadsheet.
Maybe after I left.
JJ if you are reading that, LloydH is right.
You failed to show your currents trades, it is an alarm.
You are an excellent marketer, you know your stuff, you did everything perfect, you are smart.
I can't believe you have forgotten to shows your currents trades.You hide it because you don't want we see something.
Why do you not open an account with 10000$ or 5000$, it could be a good advertising for you (if you are successful of course).
You have to know there is no reason to hide some loss,business is business, below 10 pips for me it is like a loss except for break even or limit order with stop of course like your "fasttrack".Because with real account there is slippage,spread,comm, lag, requotes, taxes, girls,champagne...oups etc... Please stop to play with 2 or 4 pips etc..
Take the trade,edit the statement, all is clear and transparent, no more spreadsheet.
It 's a pity cause you look like a good person and as you know trading is so annoying.
C'est la vie.

God bless you.
 
I'm the invisible woman.

Started a few weeks ago, actually a great start. Maybe just luck. Good point is that the trade is called out a day before hand, so there's no way to bull ****. I never actually swing traded the ES before, but I cleared over 60 points with their first trade, and right now I'm in another that's profitable. This is more than I've ever made with another service. But like I say, could be a lucky month for them.
 
fantastic4: Thanks for mentioning your positive experience. I've been considering swing trading to compliment day trading, and it would be nice to have a helping hand, at least for the first few months. I checked out their website, quite minimal, and I could not decipher their "Results" spreadsheet. Also, the claim of a 1 point stop and 100 point targets seems a stretch for a risk-reward. But for $200 a month perhaps its not a killer to try it out.
 
How is CME signal working out? still in it? They have no phone number and the guarantee icon doesn't go any where when u click on it w. t .heck!
 
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