Q: What style of trading do you use?
A: It’s a day trading style that exploits the principles of the Auction Market Theory using a visualization tool called Market Profile. Read James Dalton’s book, Mind Over Markets for an excellent description of Market Profile. It’s required reading for room members.
Q: Do you call out trades?
A: Yes, I call out trades. But that’s not the purpose of the room, I only do it to illustrate the strategy. The purpose of the room is to teach you the trading style and strategies so that you can be independent of me calling trades. I recommend you paper trade before you feel comfortable taking my trades.
Q: What charting software, Broker and trading platform do you use?
A: I show TradeStation and MarketDelta charts in the room, MarketDelta is essential, although Investor/RT is suitable. It’s similar to MarketDelta but does not have FootPrint charts. I use the trading platform from my broker, Infinity Futures. It’s a lot like the Matrix in TradeStation but better and more reliable.
Q: What data feed do you use?
A: I use DTN IQFeed, it’s the best feed for MarketDelta, and if you sign-up with Infinity Futures, they will wave the exchange fees!
Q: Where do I get information on setups you take in the room?
A: I recommend that you take extensive notes while you’re in the trial, as a paying or lifetime member you will have access to the trade log and setups.
Q: What do you trade, which futures contracts?
A: I trade the indices including; the E-mini S&P, Dow, Nasdaq and Russell 2k; the metals like Silver, Gold and Copper; the Currencies such as the US Dollar, the Euro, Japanese Yen, Aussie Dollar and British Pound; Energy, but mainly Crude Oil; and finally Treasuries, like the 30 year, 10, 5 and 2 – often I will trade bond pairs when there’s an obvious arbitrage.
Q: Should I trade during the free trial or in the initial week(s) of the membership?
A: I would recommend against it. You should listen carefully and take notes, and post your questions in the Google Group. Even if you start building confidence after the first few weeks, it’s a good idea to paper trade first so that you can use the paid membership like a classroom.
Q: Do you trade Apple?
A: I do trade Apple (AAPL), but not in the Trade Room. The room is designed to teach you Auction Market trading with Market Profile. The profile allows you to see who’s in control and when that control may be waning, allowing you to take advantage of prime trading locations. Once you become proficient at this style you can apply it to any security, including Apple. I do blog about Apple and you can ask questions about Apple in the Google Group, but don’t expect real-time answers to anything not related to the training.