Trading For 3 years
I’ve been trading with Bob Iaccino for over 3 years now. I truly believe he has created the trader I am today and I would not be profitable without him.
In his approach he does not only teach a solid strategy, but teaches much needed psychology and disciplines as well in a real world way, not an academic way.
Bob’s mentoring brings in my opinion this:
The first step to becoming a more disciplined trader and having control over your emotions is becoming aware of them. If your results are not consistent, take a close look to see if you are indeed following the strategy you outlined for yourself. Are you entering and exiting positions due to a well-defined signal, or was there some other reason?
Here are some of the most common “symptoms” Bob has taught me to watch out for, especially if you see the pattern occurring with some regularity:
1. Getting out of positions too early, only to see them continue in the direction you were hoping they would go is a sign of fear.
2. Staying in positions to long (without a trailing stop) and watching the markets take back some of your profits is often a sign of greed.
3. Closing a position for a loss, only to see it reverse and go back above break-even and hit target is a sign of fear.
4. Not closing a losing position, and letting small losses become larger ones in the hope of a reversal that never comes because of an incorrect entry you realized and chose to ignore can often be a sign of greed.
5. Jumping into a trend late, after much of it has already happened without you, can stem from a fear of missing out on the move.
6. And jumping in too early, before the market’s given clear evidence of a direction, can be driven by greed.
Bob taught me that it is important to take a step back and really have a close look at what is driving us into and out of the markets. Is it really the strategy and signals we have outlined for ourselves (which should be easy to verify), or is it something else? Our progress in the markets can only be as good as the records we keep, and the time we spend reviewing them. And when we hear news in the markets, it is important to do a quick reality check to make certain we’re giving both positive and negative news the same weight in our evaluations, and not allowing our biases towards a position. Not that we trade the news :))
You are only lying to yourself. “Be internally honest”, Bob repeats with some degree of regularity.
Another simple concept I did not know before Bob; By far the absolute best time to set both targets and stops is before you enter the position. Once the hopes and stresses of the market become your own, we can rely less and less on clear and sound judgement.
Everything I outlined here I learn from Bob and there is 0% probability I would be consistently profitable, trading month after month with out him, his support and his teaching.
I am so happy!
i felt a need to send this to you. i am so happy that i found Mike and yourself. This program is great for me. i am convinced you have provided me with the necessary tools and mindset to become a successful trader. With Mike’s personal guidance, i am now able to analyze the chart based on pure price action. Analyzing charts on H4 and Daily time frame has become easier by following the your method to draw the trend-lines. Furthermore, i have learned how to identify significant levels and i am able to use this levels for my stop placements and target positioning. Mike teaches the correct way for using standard EMA indicators. Mike uses his method for multi time frame analysis for trade entry and how to identify if it is a good trade or bad trade. This works for me and i have incorporated it into my own trading methods.
The best part about this program is the daily webinar and the question and answer. I always believe that to become a successful trader, I need to instil within myself the trader’s mindset and discipline. The webinars serve this purpose as i am able to compare my own analysis and the coaches are there to ensure that i did the right thing. They provide positive feedback and encouragement.
I highly recommend this program to everyone I come in contact with, even if you are new or have been trading for a while.
C H Lee
I want to support you
I am writing this to support your training. I am not getting pay or receiving any incentive for my writing. It is completely volunteer to help expose what I think could benefit traders such as myself or others in need of help.
My trading for the Last year has been hard and inconsistent. I tried hard, however I was not able to find the right methodology where things make sense the way I wanted. Since starting the your training last week, I have made more than 600 ticks just trading crude oil. However money was not even my concern. It was about understanding how to approach the market in simplest and clear way. It does not matter if you trade using market profile or not. Dalton himself said that he is not a profile trader, he just use it to organize market information. So how about if you have a good market information and not knowing what price action is telling you. This is where all the differences reside. I have approached the market with revenge trading and other types of destructive behavior because I did not understand well what I was doing or relying on a lot of indicators. Please do not get me wrong. I am not saying they are good or bad. They just did not fit me well at all. Since I started this course , my market understanding is changing drastically daily from not knowing what I was doing or looking for to an approach that I can understand and follow by just trading price action. The concept developed by you as far as of today remain new discoveries for me in the way I use it. Never heard or saw the way they are using candlestick the way it is thought in the class.
This teaching is helping me to work on my psychological stability as well as erasing slowly destructive behavior that was stopping from becoming consistent with clear understanding of what I am doing. I am starting to believe more in myself and know a bit more when to enter and especially what to look for. The best part is that, this class is just a start of a 6 month master program in trading and after only 2 weeks , it makes all the difference. For sure there are losses and there will be. The most important is to know why it happens..Bottom line ” If you think you know all or better , there is always somewhere someone better with clear perspective and experience. If as well you do not know how to read a map very well, pretty much, you will find yourself one day where you do not want to be. Remember that ” Success is journey not a destination”..
Best Trading to All.
I just wanted to drop you a line of appreciation. Although I was a bit weary of spending the dough, I must say that the classes so far have been tremendously informative.
Even in the first three lectures I have gained a wealth of knowledge that I didn’t know I didn’t know!
For example, I learned that using much longer timeframes could help me to see greater trend moves or to have a much better understanding of price levels & reasons for major reversals or new breakouts. Once I am active again, I will be looking at the weekly and daily as preparation for my trading during the day.
If even the beginning classes are this informative, I know that this will be an extremely informative and challenging undertaking. I am glad that it is also enjoyable, as it is obvious the lecturers are enthusiastic about their information sharing since they speak with such gusto.
Looking forward to more classes; keep ’em coming!
Loves the way the lectures are broken down
I love how the lectures are broken down to the simplest explanations of concepts. I really appreciate that they don’t assume I know anything, because I don’t. I had no experience prior to this and with every lecture I feel more confident about going into this profession and becoming a successful trader. I had considered other companies to join but I am so happy that I chose you. The knowledge I am gaining has already been worth every penny.
Too good to be true
I thought this program was too good to be true when I first found it. I could not believe you would actually provide such a thing for the money.
100% behind his students
Bob is ABSOLUTELY 100% behind his students. I had the red carpet, best mentoring I’ve ever had.
This stuff is like crack!
Once I got a taste of the concepts and understanding, I wanted to apply them into real time trading to get a further understanding of how to use the concepts and if I am using them incorrectly. The stuff is like crack! Get a taste for it; you want to go back for more! I still go back and re-watch anything I truly do not understand; you are only hurting yourself by not understanding the concepts and knowing how to apply them in real time markets.
This is by far the best money I’ve spent on my trading education as I’ve pissed away a lot of money to get to this point. Buying indicators is the easy way out, selling indicators is easy money for the vendors. Teaching someone to understand what it means to be a trader is not easy at all nor it is an easy sell, but everyone wants the results to be easy. Buy when this indicator says this, sell when it says that.”
The best thing to ever happen to me was signing up to the funded trader program, thinking I could pass a combine based on the knowledge I had at the time. Boy was I wrong.
These classes should be mandatory
I wish they had these courses when I first signed up with Topstep, I think they are absolutely essential to a person’s development as a trader. This training should almost be made mandatory. If you would like a testimonial from me, I would be more than happy to do one.
Wish I had taken this several years ago…
This course is by far the best course I have ever enrolled in for futures trading, and my only regret is that I did not take this course several years ago. I am in the freshman phase of the course and by incorporating the material to date, I have seen a significant improvement in my trading results.
My trading strategy will certainly evolve as a result of this course and I have no doubt I will become a successful trader. I would strongly recommend this course to anyone that is serious in pursuing a trading career.
–John H (Co Founder)
My new big brothers!
Mike and Bob are awesome; they are like my new big brothers! They give real answers in a real way, and want me to succeed as bad as I do. Bob offered to talk with my Mom when I did not have an answer for her; he is awesome
Paid twice as much for other courses
I’ve paid twice as much for other courses and got half the value.
Few understand what we are trying to do
This is one of the many reasons I like this training, very few understand what we are trying to do.