I was interested in the Live Trading Room where you follow pro traders live, and I also attended one of the free webinars.
There are several different instructors who trade live throughout the whole FX market day according to the schedule. They have different styles. Johann Kriek is a scalper, going for small profits in many trades.
Mark de la Paz is nearest to Marc's methods, using EMAs, Fibs, S & R and indicators like MACD and Stochastics.
They publish their results - very important. They seem kosher to me.
I attended two Free open sessions, which they do regularly. One with Johan, one with Mark. It's a webmeeting, easy to log in just using your browser, you can see the tutor's screen, hear his voice, and see comments and Q & A from the other students.
Johan's style is not for me.
On friday I did two trades with Mark, one (NZD/USD) because a student suggested it (I was bored). It won! Though I wrote INDISCIPLINED TRADE in my journal.
The trade that Mark opened and I imitated was a Eur/JPY. I had a meeting, so I just managed to move my stop to just above breakeven. The trade was up by about 25 quid at one point but when I came back it had taken out the stop for 0.36p profit.
I signed up then for the free week's trial via PayPal, its USD29.95 per month.
I've been to three sessions with Mark, and caught some of other sessions with the other instructors.
Unfortunately, this is not for me. I have learned some useful things, particularly in relation to Stochastics and MACD, but I think Mark de la Paz is somewhat indecisive, and always looking for ways to avoid trades. He sees correlations between equity and FX markets, which complicates trade entry and exit even more, so I get very confused!
Positives: not a scam, instructors knowledgeable and competent in their styles of trading, probabably good value for money if you are OK with the trading style.
Downside: very boring, makes me "trigger happy", sometimes difficult to understand instructors' accents- if English is not your first language you may miss bits.
Best to try a free session first before committing to anything.
I should say, in fairness to Mark de la Paz and fxinstructor.com, that this we are in very difficult trading conditions, so perhaps that is an additional reason for his caution in taking trades.
I gave it a try with a trial period yesterday. Methods of Mark are quite discretionary, I agree on indecisiveness, but it makes sense in those conditions. What puts me off a bit is they way he jumps all over the charts, like he needs to finish the whole thing off in 45 seconds, and with somewhat non-ideal internet speed of his you can see absolutely nothing. I would prefer him to stay on chart and go through it without a rush. Mohammad's style seems to me easier to comprehend, however he is also bit jumpy. I also wanted to see Johan's room, he was supposed to run it at 7 AM London today but Mohammad took it over. Not sure what's a reason. So, in a nutshell, it is still hard to say anything, but while trial lasts 7 days I will give it few shots more.
PS and yes, Mark's accent is bit hard to comprehend especially with his on-off voice connection due to poor internet. Luckly for me, after living for years in Latin America in past, it was just a thing to remember and after 30 minutes I was ok with it
I have had two more sessions with Mark de la Paz, once he got his connection sorted it is pretty ok, I understand him very well. His chart setup is somewhat basic comparing to Marc's, he uses SMA 200 and EMA 55 (I think but it is not on his charts), and standard settings Stoch and Macd. However I like his commentaries on Fundies, and love the possibility to type in an idea or question and get it discussed. There are very little active traders in the room who ask any questions. Must be frustrating for Mark and FXInstructor. I will give a try also to FX Bootcamp, will shelve out 100USD for 7 days trial just to be sure. I got an electronic copy of Wayne McDonnel book FX Bootcamp guide and it is absolutely awesome real trading book, 101 instructions, very very much like Marc's teaching. So this is the reason. Then I will decide. In any case having someone to ask and listen to during trading is VERY DIFFERENT from lonely trading. But in any case ForexMentorPro is the main program to learn from.
hope your race went well at the weekend. I was a little dubious about FXbootcamp because it seems they don't tell you when they are doing the actual trade, and that's the bit you would want live.
When I have a moment I am going to see if there are other live trading sessions and will let this forum know if I find a good one.
I understand that FX Bootcamp doesn't want to be qualified as an "investment advisor" as in US (and maybe in many other countries too) it bears high responsibility and supervision by CTA and even maybe SEC. I did not see any real trade recommendations at the FX Instructor too. But this is something I am fine with, I have asked Mark de la Paz few times whether he thinks it is a good idea to place a trade there or here, and he gives an answer. For me it is enough.
Hi, guys, I mentioned my experience with fxbootcamp before. Let me know how you get on Raa. A lot of what I teach is based around their strategy, but its expensive for what you get.
The owner of another forex "live" trading site has emailed me today offering a 2 week free trial to a live trading room, if anyone wants to try it out & report back here, that would be great for other members. Dean & I are also looking into the possibility of doing some webinars in the coming months for members of the forexmentor pro group so more to look forward to
Heres the link for a 2 week free trial. Let me know what you think, regards, marc
Marc, I think all our prayers would be answered if you would do some live trading with us let say at London open for example
Nevertheles, in markets like we have now I would not mind to get trained in a shorted term strategies like they tech as Bootcamp, as I understand.
I have subscribed to 2-days free trial at Forex Strategies. Their style is very very different and I am not sure that I like it, but worth a look anyways. They guy, Philip Newton, uses bar-based strategy, no EMAs, as I understand, just a price action, candle patterns, and some fibo. Strategy rotates around the average true range and daily ranges. One of the put-offs is that he uses a weird chart platform (at least in fx retail, likely it is very popular in options and equity), Trade Station, and most of the action is based on 89-tick bars. Not a big problem but all together it does sound sort of overcomplicated to me. Maybe it is just strange for me.
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