The following is an email received by JP on 5 May 2005 from Skook.

Thank you for month 1 it has changed my trading perspective dramatically. New Members will be starting in the room on Monday. Attached is a letter you might want to use with them. Wanted to contribute my 2 bits to the room. I wont be distressed if you deep six it, if you wanted to add/delete be my guest. Thought it would sound better coming from somebody like me who just went through what they will be experiencing. I'd be glad to sign it.

And this is his attached letter:

5 May 2005 - Welcome to JP’s Pal Talk Trading room
If you are reading this you signed up for a month with JP in his trading room to learn about Market Profile. Today I signed up for my second month in the room so I’ll be joining you. It was an easy decision. After trading index futures for 5 years without Market Profile , after one month I want to make it my primary market roadmap. Looking back on my first month in the room I believe I can make some suggestions you’ll profit from and appreciate more at the end of the Month than today. So I forwarded this letter to JP.

First the Pal Talk format allows for text and audio. JP uses audio because he’s not a typist, 95% of the room members use text for questions and comments, I suggest you do too. After many years of notable success in the Chicago Bond pits as a tick scalper , JP moved behind the screens and became a disciplined MP trader. JP’s primary market is the SP emini’s but he and traders in the room trade the bonds, NQ’s, Dow , and Russell minis. You will hear references to all these markets daily.

Jimmy is a stream of consciousness, yet disciplined trader who sees the market through Market Profile lenses using a selection of trades from the Market Profile playbook he has made his own. You will learn exactly how he trades, what he’s doing or not doing and why. You have front row center seats, sit up straight and pay attention. I could go on about what to expect but trust me, getting this class for $200 is like getting a new Lexus for $10K. You are what Market Profile calls a responsive buyer. Here’s a few suggestions on how to profit most from your class time.

First READ THE BOOK !
Buy the book Mind over Markets for $25 from Traders Press, the publisher (www.traderspress.com) . The Market Profile concept was developed by Peter Steidlemayer who has published 2 books . Mind over Markets is written by Dalton, Dalton & Jones, “early adapter” MP traders, is far superior. The members who settle for the Adobe acrobat PDF file available from the CBOT end up trying to read it on line and give up. The book is made for careful contemplation in a recliner. Keep the book on your desk, before you ask a question look it up in the books index, then ask if you have to. I guarantee you will read it a second time!

Don’t try to trade the first month no matter how much JP’s success tempts you!
JP advised us early in April to hold off trading for at least 2 weeks, I’d suggest the whole month. He makes it look so easy you’ll be tempted to ---. DON’T. You will save some money. YOU ARE NOT READY.

Jimmy will answer your questions but don’t be a pest , it will sink in over the month
Ask your questions in the room don’t inundate him with privates. Don’t ask questions during the open or when he’s in a trade. His interaction with long time room members will answer many of your questions. Be considerate of your fellow members.

Be sure you have access to good Market Profile software
Most of the members in the room use E-Signal. If you use Trade Station you can access an MP set of tools from one of the veteran members under reasonable terms.

Two Web sites are great resources for MP info and trading with JP
www.deltat1.com/jpj/ [Edit: Most of this material now moved to the private JPJ forum so that you can comment on it and ask questions.]

www.Trading-naked.com/marketprofile.htm

My first month with JP and the deep exposure to Market Profile are a milestone in my trading experience . I have finally found a market perspective that fits me, I hope I can make it my own. Good Luck and enjoy your month , in addition to being a great trader JP is a fun guy to be around everyday.