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Info on JP Trading Room


Hi Rose,

Allow me to share my personal experience with JP's service. As a point of reference, I have been a member of JP's room since January 2005, so have a couple months of using JP's trading methods under my belt at this point.

Perhaps other members will share their personal experiences as well.

Q: explaine how the room works?
answer: JP's room is on Paltalk, so it is a voice chat based service. The room moderators provide real-time market analysis and trading information based on JP's trading methods.

Q: how does one learn JP's method (thru a seminar etc...), does he hold special classes during the week?
answer: JP teaches his trading methods in a varieity of ways throughout the first month of the service. The first week is devoted to teaching the specific mechanics of the method. This is designed to get everyone on the same page. A special weekend training session is given after the first two weeks to cover questions or other issues anyone is having. JP and the moderators are also available to help and answer questions during the day as needed.

Q: does JP have a trading manual?
Answer: Yes a variety of training materials are provided to members.

Q: Is it easy to ask questiones?
Answer: Yes JP and the moderators are available throughout each trading day. Questions are encouraged as a way for everyone to learn, and also as feedback to JP as to everone's progress forward in learning the methods.

Q: How are the trades done, is it done well in advance can one easily follow his trades if he chooses too?
Answer: Trades are taken that fit JP's method, so once you learn the trade setups and mechanics, trades are taken in real-time as they setup. In general, the trade setups are clear to see well in advance of being triggered and orders are normally working in the market well in advance of price reaching the entry or exit price levels.

Q: how many markets does he trades or is it the three that he mentiones on his site?
Answer: The real-time analysis focuses on the S&P 500 stock index futures (ES), the russell 2000 futures(ER2) and the 30 year treasury bond futures market(ZB). The methods apply to all markets however and some members use JP's method to trade other selected markets as well.

Q: how many trades does he make on average per day?
Answer: 1 - 4 trades per day per market followed is typical. Average is 2 trades per day per market. If you take the trade setups in the 3 primary markets followed, then you would average 6 trades per day (= 2 trades per market * 3 markets).

Q: What style of trading does he do (scalping,longer day trading, both, swing), Is he a trend trader or counter trend trader?
Answer: JP focuses on intra-day position trading with the goal of maximizing the profit available from a given trade setup. It is normal for JP to hold a position for several hours. He does not do scalp, or swing trade (holding open positions overnight).

Q: Is he a trend trader or counter trend trader?
Answer: Trend

Q: If I subscribe how does one suggest I approach the room to best benefit and improve?
Answer: JP's approach to the market is unique, and probably much different from what you may now be using, or learned in the past. Therefore, be open to new ideas and be willing to learn new ways of looking at the markets and a new way of trading.

Q: and how many traders are in the room?
Answer: We have about 40 traders in the room at this time.

Q: how profitable are the calls on a monthly basis and do you go thru large drawdowns?
Answer: I can only speak for my personal results, having been trading with JP since Jan 05, the trades I have taken using his method have been net positive. We use very tight protective stop loss locations, ( avg 5 ticks in the ES for example ). So the losses relative to gains is very small, as our risk:reward is 1:4 or better (risking 1 ES point to gain 4 ES points or more in many cases). I personally have not had any account drawdown to this point.
Thanks pt for such a comprehensive answer. The only things that I would add would be to say that JP does not issue a manual but encourages you to read the CBOT PDF manual which can be downloaded from the [url]www.cbot.com[/url] site and/or read the James Dalton book Mind over Markets. During the period of the course he will give you access to a web site which has more material on it and will email you more info when something needs to be explained in more detail.
The purpose of this thread is for the experienced JPJ traders to pls. explaine how the room works? how does one learn JP's method (thru a seminar etc...), does he hold special classes during the week? does JP have a trading manual? Is it easy to ask questiones? How are the trades done, is it done well in advance can one easily follow his trades if he chooses too? how many markets does he trades or is it the three that he mentiones on his site? how many trades does he make on average per day? What style of trading does he do (scalping,longer day trading, both, swing), Is he a trend trader or counter trend trader?, If I subscribe how does one suggest I approach the room to best benefit and improve? and how many traders are in the room?

Rose

oh, cant leave without a silly question, how profitable are the calls on a monthly basis and do you go thru large drawdowns?
Thanks
Does JP trade room only have text and chat? is there a live video of his live charts?
Originally posted by MassiveCashTeam

Does JP trade room only have text and chat? is there a live video of his live charts?


Chat and text, they use PalTalk, but there was some talk of trying other systems that would include video.
Originally posted by day trading

Originally posted by MassiveCashTeam

Does JP trade room only have text and chat? is there a live video of his live charts?


Chat and text, they use PalTalk, but there was some talk of trying other systems that would include video.


hhmmm, never been in a trading room that is just chat/text with no video....must be hard trading along side JP with no video...how do you know where he draws his lines? etc etc,