Professional Trader offering Free mentorship via Babypips chat room

Beginner Questions
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Hey everyone… it seems i’ve just been getting busier and busier here on babypips…and I must say it’s been a really great experience so far, teaching, learning, sharing…etc.

Over the past few weeks, I’ve seen quite a few new faces, and gotten to know some of the more prolific names on this board a bit better. I feel more a part of this little community these days than ever before, and for those of you that know me here best probably know that I’m interested in helping as many as I can learn to trade better.

What that being said, i’m using this post to announce two new contributions I will be making here:

  1. Jay’s new and improved free trading webinars!

  2. Jay’s babypips book club!

For the webinars, I’ve decided to do an entire series that will cover a variety of trading concepts that I use in my every day trading. I will be posting days and times for each webinar as they approach. THESE WILL NOT BE RECORDED.

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MORE WEBINARS! WOOHOO!!!

Ok. i’m not THAT excited…but I am looking forward to doing part 3 in the series I started!

This next one will be held on FRIDAY, January 5th, at 5:00 AM NEW YORK TIME (E.S.T.)

So, this is about 1:00 PM London (GMT), on Friday

I’m going to go over how I personally read price action when price approaches classical S/R levels.

A GREAT webinar to come to if you want to start looking at price action like a professional.

Friday, 1:00 PM GMT (5 am EST). Will probably go for 1-2 hours.

OK everyone…please RSVP for the upcoming webinar. RSVP by posting in this thread that you will be attending. This way, I have an idea of the turnout, and I can choose how and what I discuss with you on that.

Here is a list of what’s coming up:

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Other webinar topics are going to be listed below, and more information will be made available once I am able to determine a day and schedule for them

  1. How I read price action in conjunction with classical S/R

  2. Market Sentiment… (AKA how to keep your breakout trades from becoming “false breakouts”)

  3. Preparing for the trading day - Learn how to develop more controlled trading habits, and have higher probability trades,
    just by preparing the RIGHT WAY for each trading day.

  4. Market Correlations/market strength concepts - Trade with the wind at your back…not against your face!

  5. Trading Psychology - the single most important piece of all. This webinar will be interactive…so I expect those who
    attend to be prepared to discuss some of their current struggles in their trading with the group. It’s time to fix your problem, and create a mindset of discipline, patience, and success.

  6. Scalping the Forex Spot Market - for all you scalpers out there… it’s time that (most of you) quit spinning your wheels,
    and learn how to more effectively make scalping a profitable endeavor in the spot forex market.

DAYS AND TIMES ON WEBINAR 3 - 8 TO BE ANNOUNCED!

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Please guys, do RSVP. you will determine the time the webinar starts by doing so. You can attend as many as you would like, but they will not be recorded…so please, don’t ask. I’m not a techie guys… I just like to help out.

Hope to see many of you there.

Jay

P.S. Jays babypips book club will be announced shortly…I will create a seperate thread for it…and post a link here so you can find out all about it!

  1. The Intro Video - just what it says… discover what the most fundamental concept that all professional traders know and use. This video is helpful, but not necessary.

Intro - my weekly high probability trade analysis video 1 - YouTube

  1. My weekly high probability trade analysis. These videos are detailing, step by step, exactly how i analyze the market to find my high probability setups. Videos are intended to be watched in order, as each concept builds on the others.

my weekly high probability trade analysis video 2 - YouTube

my weekly high probability trade analysis video3 - YouTube

my weekly high probability trade analysis video 4 - YouTube

my weekly high probability trade analysis video 5 - YouTube

my weekly high probability trade analysis video 6 - YouTube

my weekly high probability trade analysis video 7 - YouTube

Please comment or ask any questions in this thread. Thank you

Jay

ORIGINAL POST:

Trading Supply and Demand Levels -

Hello everyone! Although the title of my post may seem a bit ambitious considering this is my very first on this forum… the entire reason for my being a registered member with baby pips is to make this post, and use the babypips chat room, because I am looking to help those who are looking for help with trading.

A bit about me:

I’m a professional, self educated trader who graduated from the trading school of hard knocks. I “graduated” about a year ago, after spending about 3 years working on my undergraduate studies, and blowing 3 accounts (my “final exams”…if you will)

I am a day trader primarily… I rarely hold positions overnight, and I’ll take anywhere between 2 - 50 trades in a day.

I trade several of the most liquid futures markets, which include all the major currency futures, as well as crude oil, stock index futures, and the occassional gold trade. 99% of my trades are in the forex futures rather than the spot “cash” market, but a market is a market is a market, so don’t be discouraged if you don’t trade futures… the lessons are universally applicable.

I generally start watching the market around 8:30 - 9:00 pm Pacific time, but sometimes I start as early as 5 pm, or as late as london open at midnight my time. I will work until the first hour of the U.S. equities markets are open, or sometimes a few hours later, if I’m feeling up to it.

I trade off of price action alone. Much of what I do is quanitifiable and reproducable. The rest is obtained through experience watching price on a live chart.

I am profitable 4 out of 5 days, and rarely have a losing week… although that being said, I’m sure the next 4 weeks will deliver the losses that i’ve been lucky enough to avoid :wink: (j/k…i hope!)

Here is a summary of what I WON’T be teaching.

I am NOT a trend follower (though I have a healthy respect for those who are). I look to fade moves. Always. I buy when it drops, I sell when it rises.

I don’t use ANY indicators. Don’t ask me to explain this or that… I know most of 'em, and I’m yet to find a single one that actually makes me money.

I’m not gonna be here to teach anyone what a candlestick chart is, or how to use fibonacci levels, or what the difference between a tick and a pip is, or anything else that can be found in “trading for dummies”. If the following sentence is confusing to you, you need to learn more before my chat room teaching will help you -

“Ok, so I went long at 1.2420, and I’m targeting 18 ticks. As you can the the pinbar at the previous test of this level was beautiful, and I’m seeing a doji start to form, so I’m taking a 1:1 risk/reward on this particular trade, and I may move my stop up or my target down as price reacts to the minor support on the 2 min time frame.”

I’m not gonna explain any fundamental concepts. My method precludes the need for any fundamental information… save the knowing when occassional major news announcement comes out… so I can adjust stops or take profits as the situation deems necessary. I’m a 100% technician

I’m not someone “pitching” something for sale. First and foremost, I trade because I love it. I also love psychology, and intellectual group discussions. I also love teaching. My trading makes me money… my teaching makes me a better trader, and a better person…it also allows me to indulge my desire to study and discuss group psychology, individual psychology, and abstract analysis… which makes me more money anyway. 'Nuff said.

These are the following criteria that one should have to learn what I have to teach:

  1. Someone who is truly dedicated to learning how to trade the worlds capital markets. I want someone who has a “student mentality”. I would dare say an interest in trading is more important than than just an interest in making money… is a probably a prerequesite to trading success

  2. Someone who has the basics down. I won’t explain basic definitions or lingo. Read the “trading for dummies” book first, then join the chat room.

  3. Someone who is hard working, AND willing to be accountable to their work in the markets. Depending on the response and interest to this offer, I very well may limit the number of students via a private room after the first few weeks. THERE WILL BE HOMEWORK! If you choose not to do the homework, then I may choose not to invite you to the private room if I find I need to limit “enrollment”

  4. Someone who has the time to dedicate. I’m looking for “mentor/apprentice” interactions… not “lecture hall to the masses” interactions. You don’t need to be there every day, 5 days a week, but you do need to have a regular presence.

  5. Most of all, someone who is open minded, willing to try to let go of their personal market biases, and wants to trade successfully ABOVE ALL ELSE… as this is necessary to succeed. (The one exception is someone who kicks ass at
    MetaTrader/tradestation/ninjatrader coding. As a side project, I want to try to convert my analysis to a computerized system…but I can’t program for beans. If you can code like a google employee…you can have a bias toward automated trading ;). everyone else… lets at least be open minded to eliminating our market biases…as they often become our own undoing anyway.

Phew! now, to the 2 people who are patient enough to read all of that, just post a response on this message board. In the spirit of transparency (and because this industry is rife with charlatins and “trading coaches” who profit more from talking than trading), try to post all initial communication as a post on this board. If you feel it is really a private matter, send me a PM. I won’t be giving out an email or other contact info, and I won’t ask for yours…other than possibly a skype ID for screen sharing.

I am looking forward to this “experiment”… and I hope to help some of you to make some real money in the markets.

Jay

P.S. if you are already trading successfully and want to learn/share/teach/whatever… you are as welcome to respond… I (and many others no doubt) would love to hear from you as well!

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Sounds like my style…price action, intradaytrading… Im game for learning what you have to teach. What’s the first lesson?

3

I think it’s very original what you’re trying to do here. You seem legit, I hope you succeed in finding some good students!

What kind of technical tools are you using primarily? I’m guessing you keep it simple :wink:

4

Im guessing a Live Account is a requirement?

5

Hi I would like to be considered when I have gained more experience

Kind Regards
Kevin

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2 - 50 trades a day, not for me! That could very quickly go very wrong.

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Not me, I like staying in the game, getting consistent feedback in the form of a trade that nets 10-15 pips per round. I learn best with many lessons to reflect on and daytrading allows me the opportunity to reflect on many trading-events. Plus I like the sharpness of attention and awareness scalping or intraday trading allows for, its almost like a zen meditation, Zazen, sharpening one’s awareness like that of a keen blade.

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I’ll stick to boring profits, and have that kind of roller-coaster ride when my work is done :wink:

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Again, I take the Zen approach, its a rollercoaster because you are agreeing that it is. Thats the challenge to me, having the discipline to watch my inner state tic by tic, it has now become the journey.

10

Hey all, thanks for the replys! Having never done this before, I’m going to try today to open my own baby pips chat room… I’ll be in and out at various times of the day, but will be here between 3:00 - 4:00 pm Pacific time for any who want to stop in. I will also be here between 2:00 pm and 4:00 pm tomorrow, and again tomorrow evening (evening my time) for those who want to drop by.

Empty, Akei, and anyone else who is interested, I hope to see you today or tomorrow.

Purple, I hear ya on the “roller coaster” ride… but what I’m going to be showing are universal trading principles… I prefer a shorter time frame, but I do have a very small cash forex account I use for multi day trades, and I may take 2 - 4 per week in this account. My point is… you can apply this to any time frame, and use it any way you want, so feel free to drop in!

In fact, I emphasize exploring different markets, financial instruments, time frames, etc…for anyone who wants to trade successfully. It’s about finding what works for YOU… and without that, success is going to be short lived and vaporous. I actually had slow, plodding success in forex cash for several months before I switched to futures, and ZING… I still don’t know why exactly, but I don’t really question it as it doesn’t really matter.

Notorious, I trade a live account, and am considering specifically a small seperate account just for this experiment, hopefully in an attempt to show others that one doesn’t need a massive account to start…but I have not decided on this for sure at this point. being that this is new for me, I may end up demo’ing for a bit myself, as I’m not sure how teaching this way and trading will affect my bottom line. Again, this is an experiment of sorts for me… I want to help folks, but not at the expense of my account, lol! So we’ll see… so to answer in a word: No, a live account isn’t necessary to learn, but (obviously) a live account will be necessary to overcome the REAL challenges of trading, not to mention pay bills with :wink:

Kevin, and any others who are brand new… feel free to join once you know the basics.

Akea: regarding technical tools… I trade using price action almost exclusively. Support and resistance are what I base every decision on, and I use multiple time frames, a LITTLE bit of volume, and OCCASSIONALLY fibs… but fibonnacci levels are the least important of my considerations. I also pay some attention to the DOM (it’s like a level 2 screen for futures trading), and I like to watch Time and Sales data. Though I actually never use them to enter a trade…and am still figuring out some patterns and correlations, I have found it useful to help me determine whether to STAY in a trade… or whether to NOT take a potential setup…

I don’t personally use moving averages any more, though I do acknowledge they helped me in the past to a limited degree. Nothing else I found ever made me any money… no indicators, no oscellators…etc.

I’m going to try to set the room up now… so I’ll be there for a bit if anyone is interested in dropping in.

Jay

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Ok! I think I have the chatroom set up. I’ll be in there today whenever I’m doing my analysis, so feel free to all who want to drop in.

Jay

12

I am IN for this program of yours. hopefully I will gain some tricks along the way. I desperatley need some directions in my tradings…thanx in advance…hope to hear back soon about your setup.

13

jaystradingmentorship - AnyMeeting | Free Web Conferencing, Webcast and Webinar Service

For live webinar right now.

14

I liked the webinar even though I was a little distracted, looking forward to more

–the slow Georgia boy

15

im a coder infact that’s my day job.i was looking in to creating EA for meta trader.so if you are interested i wouldn’t mind making your analysis a EA

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Hey all… just finished the first webinar. I it seemed to go well, and maybe some attendee’s can post comments or suggestions here.

I will be on again to cover more information, starting at 7:00 pm P.S.T. tonight (10 P.M. New York time). Probably be at least an hour or 2. If my platform isn’t down for weekend maintainence, I may be able to show some “live” trades as they are happening (if it works, you’ll see what I’m talking about).

Anyone who wants is free to join, as long as you have a knowledge of trading basics…and want to see how a full time trader operates.

I will be available in the chatroom at baby pips. can’t miss it.

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come check out the webinar at 7:00 nirvaan… after wards i can give you some ideas of what I think could work to make an EA out of what I do.

HAHA Talon… the south is a culture of slower speech articulation…NOT of limited brainpower by any means :wink: so cal and NY just talk fast. My ex girlfriend has a problem understanding southern accents…she’s from idaho…go figure, and had a 120ish IQ…

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well my IQ is 140ish plus but who’s counting, my wife says I have no common sense. but yeah we do tend to be a little relaxed down here :smiley:

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good to hear… the web leaves open to interpretation all forms of nonverbal communication…hard to know when sarcasm is being used without frame reference or body language…but i’m glad we all got that settled. :wink:

OK EVERYONE: webinar starts in 7 minutes…all are welcome…bring your questions. Here’s a link:

jaystradingmentorship - AnyMeeting | Free Web Conferencing, Webcast and Webinar Service

20

This sounds really like a great opportunity. However I live in Asia GMT +9 Tokyo standard time. I do not know how often I will be able to make these seminars but if there is acceptance in me joining I will do my best every session. I really hope I can join in and learn your system. I only use price action and this sound really up my alley.