Trading Advantage is owned Larry Levin, with Dan O’Brien as head trader, and is open 9:30~4.00 EST (14:50-21:00 Zulu), 5 days a week. Trades are only taken on the ES and were announced according to their names: break out trade (BO); algo trade; poor son of a bitch (PSOB) trade, etc. Exact entries, targets or stops were not provided in 2009 or in later years. I remember how electrified I felt when Larry occasionally entered the trade room; I paid for two memberships and the advanced training for a total of over $7300 over 2 years; I was under three assumptions: Traders Advantage was a successful trading room; successful trading could be learned and this was the room was going to teach me successful trading. This room was the first of the 422 rooms I would eventually review and the $7300 I paid was my first of two great fleecings that occurred over the next 3.7 years within the futures trading industry (remember: good judgment comes from experience; experience comes from bad judgment). I had never heard of RipOffReports, ForexPeaceArmy or Elite Trader but apparently serious condemnations of Trading Advantage reside at those sites.
Tag Archive for Dean A. Handley
Article by Dean A. Handley, PhD, MBA, JD
Beware: Gross profits vs. Net profits.
Understanding trade performance of a futures room is paramount in your initial selection process to find which rooms to evaluate in depth. As 262/422 futures sites do not post any performance [Market Clips April 8, 2013], it is natural to focus on those rooms that do post some form of performance. Note: all (100.00%) performance information I have seen in the last 3.7 years was gross P/L, not net P/L. Many of my fellow trades casually presume that net profits follow diligently behind gross profits in an orderly fashion and that gross profits are a faithful manifestation of what is occurring with net profits. Let’s see.
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