Frequently Asked Questions
What is the overall intent of the live room?
Don’s intent is to provide a highly professional and focused global trading environment that simulates a physical trading room and maximizes the potential for trader profitability through a combination of live audio and text narration, streaming indicators, and exposure to a vast and highly-supportive coaching and trader network. The network aspect is critical with the intent of creating a long-term trading “family” whose members can support and inspire each other to greater heights.
How will this venue compare to most trading “rooms” that can become disjointed via conflicting methods, excessive banter, and TMI (too much information)?
As stated above, Don’s #1 goal is to provide a unique environment that maximizes trader profitability and maintains a focused atmosphere. Similar to a racing crew, Don anticipates serving as a sort of “coxswain” to help ensure all traders are “rowing” similarly. Live streaming of market bias updates are intended to serve as a common source of reference for the team and thus minimize the probability of trader missteps. In addition, prudent use of audio, periods of silence, and separate “topic” text channels are designed to maximize focus and minimize disruption. While social banter can be a healthy aspect of any team environment, such chatter will be limited to after hours and provided via a separate channel so as not to distract from this key goal.
How will Don incorporate audio?
One of the benefits of Don’s venue compared to the vast majority of other online “trading rooms” will be his use of audio. In order to maintain trader focus, Don plans to use audio selectively during scheduled intraday briefings, key trade sequences, occasionally during quiet market action to ensure traders’ minds remain “in the game”, as well as periodic after-hours “lounge room” banter. As with any performance endeavor, periods of silence for both audio and text will remain an important element of the trading day to recharge and refresh, which will often correlate with minimal market opportunity and not reflect lack of market monitoring or interest.
Will the room provide “calls”?
Years of experience in the trading world have confirmed our strong belief that the single most important element in trading is understanding the current market “bias”, which can ebb and flow quickly. As such, most of our focus will be on combining proprietary indicators, order flow, and decades of experience to establish the current bias and key low risk wholesale trigger points. While we will work to point out key trigger points, trade entries and exits will always be up to participating traders based on their tolerance for risk, confirmation requirement, personal financial situation, and preferred timeframes (swing vs. scalp). As Linda Raschke recently reminded the trading community, Penso de la Vega, in one of the first books on trading entitled “Confusion de Confusiones”, correctly stated “The first principle in speculation: Never give anyone the advice to buy or sell shares, because, where perspicacity is weakened, the most benevolent piece of advice can turn out badly.”
I already use established price “levels”. How would this service benefit me?
Key price levels as established via clusters, support/resistance points, volume nodes, or other prudent methods can certainly be an important ingredient in trading. However equally important – and sometimes more important – is the confirmation that is required to ensure the market begins acting as anticipated. There can be no greater example than early February 2018 when all indices plummeted through multiple levels which wiped out many traders who trade without such confirmation. Markets are extremely fluid creatures, and what may have looked “good” early in the day, can quickly evolve. Combining live monitoring and turn-signal indicators can help traders remain flexible as needed.
Will Don discuss his personal trades?
Don will often use actual trades to demonstrate his use of the indicators, triggers, and cycles monitored in the room. In such cases, this information is intended solely for educational purposes. Don also trades a variety of timeframes and instruments with varied objectives on both a short- and long-term basis.
What trading instruments does the room follow?
Consistent with Don’s personal trading, primary room focus will be on the U.S. S&P 500 futures (ES) with supplemental focus on the German Dax and Nikkei 225 (NKD). In the case of the S&P 500, such information can also easily be related to applicable ETFs such as SPY, SSO, and SPXU, as well as SPY options.
Will audio be recorded?
No, just as discussions in physical trading rooms aren’t typically recorded. Focus will be on live discussion both during and after market hours. To the extent text is used, such will be retained for future reference if out of the room, yet this format will intentionally mirror a physical room layout.
I tend to trade best alone. How can this service help me?
Many traders do indeed trade best alone, and Don would never want to interfere with sustained profitable performance and a cadence which is working. Having said that, the room and audio layouts have been designed to allow traders to “pick and choose” various features which may help them, including access to after-hours coaching and networking which doesn’t interfere with intraday trade sequence management, as well as the ability to mute audio or selected text channels. Those who trade well alone, yet who are struggling with size management, may be able to leverage off the live market bias narration to increase size and profits where appropriate. Noted trading industry coach and author Dr. Brett Steenbarger recently discussed the benefits of the team approach in a March 2018 blog post.
How will the cost of participating impact my P&L?
As a trader himself, Don is extremely sensitive to the need to carefully manage trader overhead and expenses. As such, Don has intentionally bundled a number of services including briefings, proprietary indicators, live narration, access to coaching, networking, and more that would otherwise cost thousands if pursued separately. Don’s vast industry network – combined with economies of scale resulting from aggregating traders from across the globe – allow him to price the service at a level that provides a high level of value which – if applied properly – can actually reduce overall trader overhead expense while increasing trade profitability. Simply increasing trader performance by 2 points on a 5 contract lot over the course of a full month would more than cover the modest participation cost. If we can’t accomplish that in a single day, then we should be waiting on tables!
Why doesn’t Don simply trade?
While a trader first and foremost, Don comes from a family of educators and has received strong feedback from his trading teaching endeavors over the last two decades. He has continually strived to improve the industry’s educational opportunities through innovative use of simulators, a highly transparent blog, Chronicles of a Million Dollar Trader book, the Jellie trader training program, and the Trading After Dark (TM) series. In response to repeated requests over the years, he has added this venue as an option for traders looking to join a collaborative network of professional traders.
Will Don “teach” in the room?
Don has other structured educational programs which are designed for in-depth and optimal trader education, and he is currently offering significant discounts for room participants. The primary purpose of this effort is to provide networking opportunities and discuss market bias action live as it happens.
Do I have to be familiar with Don’s prior educational programs to participate?
While helpful to accelerate the learning curve, traders need not to have participated in past efforts.
How will Don incorporate breaks into his schedule?
Don will take frequent breaks during each trading day and evening to recharge, refresh, and focus. It is important to remember and respect that Don trades, has downtime and personal needs like everyone, and will require time away. He will make every attempt to inform the room of his status, and provide advance notice of any extended time away from the room. Estimated time away was considered when setting pricing.
How with the room handle any unprofessional behavior?
We will have a zero tolerance policy for unprofessional or disrespectful behavior of any kind, which will result in immediate termination without refund.
What is your refund policy?
Given the intellectual property aspects and value pricing approach of the room, we do not offer partial or full refunds. We firmly believe the subscription fee represents one of the best values in the trading networking world, and will always seek to deliver value far in excess of any participation fees. Participants can also cancel on a going-forward basis at any time.
Is this site or its services providing “financial advice”?
No. All of the content is provided solely for educational purposes. Please refer to the site disclaimer for additional clarification.
CFTC RULE 4.41 – HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY, SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN. SEE FULL DISCLAIMER FOR ADDITIONAL IMPORTANT INFORMATION.