422 Futures Trading Rooms in the US: The E-mini Trading Professor

Article by Dean A. Handley, PhD, MBA, JD

The E-mini Trading Professor (aka Learn-to-trade-and-invest.com, aka twitter/EminiProfessor, aka
Honestforexsignals.com/emini, aka The Fractal Futures Trader; aka  Emini-maven.com) is all David Adams, who trades the YM, 6E and ES (and a very small spattering of NQ and CL), uses the Darvas Box and is open 9:30~4:00 EST (13:30-20:00 Zulu), 5 days a week. This evaluation of TheTradeDesk is the 14th in this Room in Review series hosted by MarketClips.

I was in Mr. Adams’ trade room from 02.08.2012 – 05.25.2012, and over those 65 trading days, recorded and evaluated 296 trades were called in the ES, 6E and YM; averaging 4.55 trades/d (OmNovia, Ninja).  The first thing I look for now in any room is the presence of accurate and detailed trade records [1]. Nowhere on his 5 sites does he post trade records or any type of performance. However I did note:

False statement #1:  “Our performance is third-party audited and verified on live accounts”  I inquired twice for these audited performance records but received no response nor are any third party records presented.

While in his room his trade entries, number of contracts and current P/L were clearly posted on his trade dome and trade management was evident as the trade progressed. He typically uses balanced fixed target/stop trade (i.e. 15 tick target/15 tick stop on the 6E).  For the trades I observed the follow cumulative total P/L (based on 3 contracts/trade) was directly tabulated based on his final P/L per each trade:

6E trades:    110 trades     $830 total
YM trades:    103 trades    -$1010 total
ES trades:     64 trades    -$2595 total
NQ trades:    15 trades    $480 total
CL trades    4 trades        -$780 total

His overall trade P/L was most negatively affected by early profit taking (in favor of full targets) and allowing losing trades to extend beyond established stops (i.e. moving stops during the trade). Accordingly over the 13 weeks I was in attendance, he final gross P/L was -$3075 and if I factor in the $5 round trip for the 296 trades, the net P/L is -$4555.  Based on my above observations, I find:

False statement #2: “Learn to Make $500-1000 a Day.”; based on my direct observations, that statement is false and misleading. And lastly,

False statement #3:  where he states “0 unhappy clients in 2-years! Just ask them yourself”.   When I was in the room, there were 8 immensely unhappy members (I was acting as co-moderator for Mr. Adams) and they were openly critical and condemning the room’s performance and his financial arrangements with them. He is only the second head trader I have heard snoring (sound asleep) on multiple occasions while in the room (I have the files and screen shots of attendee comments) and often appeared confused, disoriented and dazed, even while in active trades. Other room attendees present commented on these aberrant behaviors and others aspects of this room, the emails of which I have achieved.   Furthermore, this room is riddled with complains on the various forums that mirrored behavior I witnessed firsthand.  His web statement “he is the best emini trader not associated with an institution trading today” is not true in my opinion.

Based on all that I observed, which includes false statements, erratic behavior, discontent members and a negative trade P/L, I recommend avoiding David Adams and any of his multiple manifestations.  Other futures trade rooms that have not achieved net profits sufficient to earn a reasonable living as a trader include Alpha Wave Traders [2], Trading Advantage [3], NextGen Traders [4], The Trade Desk.biz [5]; PureTick YM [6], PureTick ES [7] and Millennium Traders [8].

1.    Handley; Futures Truth #2 – 2013
2.    Handley; http://marketclips.com/2013/05/06/422-futures-trading-rooms-in-the-us-5/#more-647
3.    Handley; http://marketclips.com/2013/05/20/422-futures-trading-rooms-in-the-us-trading-advantage/
4.    Handley; http://marketclips.com/2013/04/29/422-futures-trading-rooms-in-the-us-4/
5.    Handley; http://marketclips.com/2013/05/28/422-futures-trading-rooms-in-the-us-thetradedesk-biz/#more-1004
6.    Handley; http://marketclips.com/tag/puretick/
7.    Handley; http://marketclips.com/2013/07/22/422-futures-trading-rooms-in-the-us-puretick-com-es/#more-1499
8.    Handley; http://marketclips.com/2013/08/05/422-futures-trading-rooms-in-the-us-millennium-traders/#more-1569

________________________
Dean Handley has BS; MS; PhD; MBA, JD.  Author’s disclosure: I have never been paid, solicited payment or accepted any form of compensation from any room, other than gratis attendance. I acknowledge that I was given gratis room attendance while at the Emini Professor; for 5 weeks I did function as room “co-moderator” – without any compensation or other remuneration. I resigned due to the above issues, false statements and financial shenanigans conducted by Mr. Adams.  drdhandley@yahoo.com.

3 comments

  1. chris says:

    Hi
    Love your 422 Futures Trading Rooms articles…
    Could you please guide me to the article that post the top 10 rooms you reviewed. I have been clicking around and can’t find reference to the top 10 rooms you have reviewed

    regards
    Chris

  2. Lee says:

    Thank you so much for your great articles.

  3. audrey says:

    Alpha Wave Traders appear to be listed in both Trading rooms to consider avoiding and also in the top 10 trading rooms of note. Are these the same or am I missing some information
    kind regards

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