TRADE ROOM NO LONGER AVAILABLE: The forex trade room is no longer available. People have asked me if I know what happened or how to contact the moderators of the forex trade room. The short answer is I don’t know but before I left I know Michael Storm was talking about leaving the United States and retiring in Belize so perhaps that is what he did, I don’t know.
If you wish to contact him then search the internet for Michael Storm Forex or something similar and you can see several social media links and maybe able to contact him.
The other moderator was Christopher Head and he was from the United Kingdom but he does not appear active online under his name.
This article has been left here for historical purposes.
UPDATED INFORMATION: While I still believe that the Forex Trade Room is worth looking at I am at present no longer a member. I was with them for 2 years and mainly left as I got busy with other things and was no longer regularly using their service. I guess trading until 2am or 3am in the morning every day burnt me out. I am still trading forex but not day trading in and out and at the moment I’m doing trend following and also trading candlestick reversal patterns and key areas of support and resistance.
GENERAL WARNING: Many people seem to complain if/when they lose money with a trade room. No one is right all the time and really the forex trade room has a pretty good track record. Most people seem to blow their accounts on one or two bad trades that they let get out of hand and way against them. They also are probably trading way too big for their account and the trading style used by the room. (They trade in baby slices and are willing to let trades go against them and even add to losing trades. They do washing and hedging to work their way out of bad trades and it requires work and a lot of time in front of the screen)
NOTE: Their Trading style is dangerous if not managed well as they don’t use stop losses and use washing and hedging to work their way out of trades. If you trade with them demo trade for a while and when you use real money trade really small baby slices.
ORIGINAL ARTICLE BELOW:
I received an email asking me about the Forex Trade Room which I recommended on another post on my website. It was a little unexpected as I only recently posted the video to help out new members of the trade room and didn’t expect general web traffic.
Anyway they asked me about my trading experience and also about the quality of the training videos provided by the Forex Trade Room. They also asked how thorough the videos were and if they give a good grounding in trading and the trading methodology used in the trade room.
I figured this would make a good post for my website and would be useful to other people interested in the Forex Trade Room so here is my personal experience with the trade room and a comprehensive review.
Where I’m currently at as a trader
Prior to joining the Forex Trade Room I was interested in trading and was more or less a dabbler trading on and off but not totally convinced that trading could be a viable income source for me. I opened my first trading account in 2008 and traded on and off sporadically until I finally found the Forex Trade Room in January 2013 and since then have been trading seriously every week with the exception of a break toward the end of 2013 of about three months after I took a reasonably large loss on my account (That was due to me not the trade room).
At the time of this post I’m a serious part time trader that is often trading close to full time on top of my current job. I’m working in an industry that does 12 hour shifts with 4 shifts on and 4 shifts off so when I am not at work I’m more or less trading full time.
Right now I can honestly say that the Forex Trade Room has taught me how to trade. I can sit down in front of my computer and know what I’m looking for and can pick out successful trades. I’m trading primarily as a short term trader scalping the market with an interest in becoming more patient so I can put on some medium term swing trades (trades left on for several days, a week or two max).
At the moment I feel the last piece of the puzzle I need to master before I can make trading my full time primary source of income is money/risk management. Right now I am consistently making money with my trading by both taking trades recommended in the trade room and by taking my own trades as well.
The only issue I have at the moment is that I occasionally have losing trades that are larger than I should allow and it eats into my trading profits and that’s what I am currently working on resolving and hope to have fixed this year.
What you get as a Forex Trade Room Member
You get to become a member of a community of professional day traders who make their money trading for a living and aspiring traders who are serious about learning how to trade with the goal of becoming full time traders themselves.
You see the charts of one of two trading mentors. Little John starts the day just before London session and Robin Hood comes in at 7am New York time with a Top Down Market Analysis that gives you a solid understanding of what the market is doing and what may happen based on the charts at the time.
As I live in Australia I’m starting my trading day in the London session and have generally closed a number of profitable trades before Robin Hood wakes up. As a result sometimes it’s easy to zone out which is a huge mistake. The top down analysis is one of the best training tools you can get as you get to see how a professional trader who makes their money trading looks at the market.
I have gotten into the habit of rewatching the recorded top down analysis the next day. I do this for two reasons, One by the time Robin Hood starts the top down it’s getting pretty late at night in my time zone so my concentration for learning new things is not always the best and Two by rewatching it during the day my time it helps me pick up things I may have missed which will help me with my own technical analysis.
You should try to do your own top down analysis before Robin Hood does his and see how you compare to what he is saying. Often by doing this you can learn how to better analyze the market by picking up on things that he does and says when he views his charts.
The other obvious benefit of watching his top down analysis is you will generally get some kind of game plan for trading that day. For example if he is bullish on something he may say to buy dips on that pair and so you know what to be looking for even if you can’t yet do your own market analysis.
Little John also does a top down analysis at London session but does not use voice. It is typed in the chat window and is not recorded so you have to be there to follow along and it’s of value to London session traders for the same reasons listed above.
Before you can get the most out of the Forex Trade Room you will need to watch the training videos on their website. Doing this would easily take all weekend and there is more information than can realistically be learned in one marathon weekend of video watching.
You will need to go over the videos many times and you will find that certain videos appeal to you more and will watch them many times over.
There is a slight downside to these videos and that’s because they were recorded when Robin Hood was the head trader at another trading room and when he transferred the videos to his website the mouse cursor got lost in the process.
This does not stop you learning from the videos. It just means you need to pay a little extra attention to the videos which is not a bad thing when learning a new skill set.
The video training is comprehensive as shown in the screen shot below.
In addition to the training videos on the website you have access to the recorded Top Down Analysis each day and any training that is done due to members wanting to go over certain things. I have include two screen shots below that show this.
The recorded sessions below show previous live training that was done and is left in the recording archive for the benefit of all members.
After reading this review I hope you can see the value in being a member of the Forex Trade Room for the monthly fee they are charging it’s well worth the investment and several years worth of subscribing is much cheaper then other training courses on the internet that have less value than what you get from the Forex Trade Room.
I would recommend Forex Trade Room to anyone serious about learning how to trade and believe that anyone serious about trading will fall in love with the service. I don’t think they mention it on their website but in the unlikely event you don’t like the trade room for any reason they will give you a complete hassle free refund.
I would say you have nothing to lose and everything to gain so if you’re passionate about trading then give them a try it may just be the tipping point that makes you the trader you dream of becoming.
P.S. Another great benefit of the Forex Trade Room I forgot to mention is that you can pull up your charts real time when people make trade calls and ask yourself why they are making the trade. Do this enough times and eventually you will have that light bulb switching on experience and from that point on you will be seeing trade setups all over the place.
P.P.S. When you start to see potential trades you can post it to the trade room and ask more experienced traders what they think. Sometimes they will say not to take the trade and tell you why which helps you learn faster, other times they may agree with you and take the trade themselves and that is a wonderful feeling and very satisfying to see your hard work learning how to trade pay off.