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Power Charting

www.powercharting.co..
Category: Websites
PowerCharting.com has taken its high quality professional trading and real time, real money, and real educational services to the next level with the launching of its Live Trading Room where it's all live and right on the screen in front of you!
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Displaying 1-7 of 7 Total Reviews
Rob Hoffman biggest fraud in education (BecomeABetterTrader)
I understand that title may come off a bit strong but this guy seriously is a complete joke. He is a 3 tick scalper, and does it in a way to where he is completely open to unlimited losses. As soon as price goes in his favor he will put in a +1 stop even if its only in the green 2 ticks. He sells moving averages, MACDs (his "triggers"), RSI, and stochastic for $3,000 dollars. All of his DVDs he sells for thousands of dollars are all from like 2008 and so outdated they are practically useless, even if he were to update them he has nothing useful to say. All he does the entire time we are in the room is complain about how trading conditions aren't right and then eventually he will take a trade yielding 2 ticks and call it a day. Sometimes he will be down 20-30 ticks before he can lock those 2 ticks in but hey according to him that's how the "big boys" trade. I'm not sure if he is talking about his weight or his ego. I should also mention when the trade doesn't go 2 ticks in favor, he will add 3x the position until he is green. So say he starts with 3, as he usually does. If it goes down 15 ticks he will add 9, now his average is 12. If it goes 15 ticks more down he will triple that into 36 and will only start thinking about taking a loss when he is down over $10,000 dollars. I guess its no biggie when it's your money. This is the same guy that lost $250k in 2011, he obviously never learned a thing and doesn't care to. Keep digging in those heels buddy! He always says this when it is obvious he is either too scared to trade or just doesn't know how that "the education is more important than the money". Right, well to anyone that has been around the block it is very obvious that his psychology is so shot from wanting to win every single trade, and be able to tell new traders he has gone months without loosing, he is just flat out scared to make a trade. He might tarnish his precious track record of making 4 ticks a week on 3 contracts. I am willing to say, from the 3 months I witnessed from him, that he could not turn a new trader or a trader that isn't profitable into anything except bankrupt. I mean that literally. Maybe you need to go spend $1000 on his trading room and $3000 on his indicators that come standard with your charting package to find out but I hope a few of you take my advice and stay away from this clown. It really disgusts me because he has perfected luring in traders and even I was curious on what he had to offer which is where I am getting my sources from.

http://www.trade2win.com/boards/first-steps/55378-robert-hoffman-system-4.html < more accurate reviews are found here and also right here on investimonials if you dont believe me.

if you don't want to go read the reviews from that site at least look at this $12k loss he took, and I am telling you this isn't a rare occurrence: http://tinypic.com/view.php?pic=2ztbwxc&s=5#.Ujj7wz8SeO4

new traders: STAY AWAY and everyone else: STAY AWAY! This guy shouldn't be allowed to teach, but that is why we have sites like this. If you need recommendations on educators, I am more than happy to refer you to someone that is real.

This review is the subjective opinion of an Investimonials member and not of Investimonials LLC
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Trade2day1 Louisiana

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You Are What Your Record Says You Are. In A Word, DISMAL.
Rob Hoffman Worked Exclusively With Trade The Markets{John Carter,Hubert Senters} During The Time Of My Live Trading Room Membership. Power Charting Was His Old, And Now Just Recently New Website, As He Has Broken Away From Trade The Markets. Here's The Deal, From Jul 11 Thru May 12 I Observed Rob Hoffman Losing 415 Thousand Dollars, And Making Around Ten Thousand Dollars In His Live Trading Room Sessions. For The Record, The Rob Hoffman Trading System That Loses 405k Is Endorsed By the CME, Infinity Futures, And The Traders Expo. On 14 Jul 11 He Went Long On One RUT Contract In A Down Market. In A Matter Of Minutes, He's Trading 800 RUT Contracts Long In A Falling Market. His Broker Infinity Futures Pulled The Plug On His Account With A Margin Violation. On 1 May 12 Several Students Who Paid Rob Hoffman 10k For Mentoring Services At His House, Witnessed The Big Guy Losing 71k . Again One Contract Long In A Falling Market, Turns Into A Big Loss. Rob Hoffman Trades Entirely Different From The Rob Hoffman That Lectures You. The Record Does Not Lie.

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MichaelDBF Queens, New York

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ALOT OF TALK UNREALISTIC RESULTS Prepare to blow out $50K
Very nice guy, means well but hell jump into trades and then when hes down hell start adding more contracts to improve his cost basis, very unrealistic and dangerous for the long term success of a trader, your asking to blow your account, he teamed up with trade the markets and has the room going a few hours in the am but again hell take a counter trend trade or pullback and when it keeps going against almost everyone in the room that trades 20 contracts or less would be taking losses on a daily basis, only Rob and a few other traders who have leverage with several hundred contracts can trade like Rob does, hes been down $58K on one trade, alot of times hell be down several thousand dollars and just keep adding contracts until his cost basis is close enough and then with no specific methodology hell take profit quickly so as not to turn his trade into a loser, TOTALLY unrealistic for 99% of traders save your money find a more methodical mentor to teach you conservative strategies you will blow up your account in the TTM trading room. And He talk all day which may be great for a newbie but sometimes its beyond tiresome. Some of you may be asking why were you in the room if your experienced. I simply thought this room could help me diversify into other instruments and having an extra set of eyes on the market seemed like it would benefit me. I am no longer a member though wasted 3months at $270 each month. Good luck to you all

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A prayer answered
I've known Robert Hoffman way before it was Power Charting. I was in his very first free chat room about three years ago, which everyone knows me as Tim E. I considered myself at that time as a advance trader and knew everything. I was not making money, but i knew everything. Well that all change thanks to Power Charting and Rob. Rob has taught me over the years to view the markets like the institutional s view the markets. When the junior traders are selling you are buying and when they are buying you are selling. That was a concept that took me along time to conquer.

Rob has had a fantastic 2010 year with no losing trades since January 22, 2010. Some critics say that Rob had a rough 2009 year, but that's not the case, he still made great money and I believe that he is the only educator out there that trades his own account right in front of you.NO SIMULATOR. REAL TRADES IN A REAL ACCOUNT. Tell me who else does that. I believe that Power Charting and Rob Hoffman is the most honest and caring person. He cares about his students learning the concepts of his style of trading and will help until you get it right. Rob in 2010 has added gold,oil and silver to his trading. In 2011 he will add a few more, like the Russell 2000, Sugar and the Dollar Index which should make 2011 the best year ever.

If you want to learn how to trade like a Pro and want to do this for a living, then Rob Hoffman and the Power Charting family is the right place for you. I would highly recommend it.By the way, trading is my soul income.THANK YOU ROB HOFFMAN.

This review is the subjective opinion of an Investimonials member and not of Investimonials LLC
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I too was unhappy with PowerCharting in 2009
I agree with Jon's "Displeased" review. I too was a subscriber in 2009. While the site owner does seem like a nice guy, his service is very expensive ($300) a month, which is not so nice. Ultimately, it doesn't matter how nice a guy the site owner is if you don't achieve your goals as a trader as a result of being a subscriber. I thought this was going to be a "learn while you earn" type of experience but I lost money attempting to "learn while I earn."

I too was very surprised when I joined to find out that the strategy used in the room was primarily scalping 1 or two ticks with large size. During the time I was in the room I kept being told that better trades with longer timeframes were ahead, but in most of the time the trades were 1 point or less.

What I didn't like about the room:

1) Very expensive. Was $300 a month in 2009.

2) As stated in a previous review, the trades in the room were primarily scalps, and required a very large capital to be able to take the trades effectively, due to the way he scaled in. (the max total size was up to 200 contracts per trade in ES by the site owner. Most traders aren't going to be able to trade those sizes successfully, and even if they do have the capital, it will be emotionally way too stressful except for anyone but a very advanced trader)

3) It isn't as easy to follow the trades accurately, and is very stressful. While you can see the trading DOM of the site owner, the trades often involve making several scale-ins and quick order-adjustments per trade, and the adjustments can happen very quickly. Even if your eyes are glued to the site owner's DOM, it is easy to miss a scale-in altogether and get a worse average price, or not get a good fill. It is very stressful attempting to follow someone with these type of fast-paced trades with precision.

4) As nice as the site owner comes across, ultimately, his goal is to get paid subscription fees whether you win or lose money while in the room, so in that respect he's no better than any other trading room owner out there.

5) The site owner's win/loss ratio was good, but when he did have a loss it would usually wipe out a week or two worth of prior gains.

I should point out that I heard that he started trading more instruments in 2010 than ES. It is possible that the room has improved since 2009, but I am unwilling to spend $300 a month to find out whether the room is any better. During the time I was in the room, and when I described my experience in the room with other traders, every one of them agreed that I would be better off cancelling my subscription.

This review is the subjective opinion of an Investimonials member and not of Investimonials LLC
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Rock solid trading with a highly disciplined approach
First, in regard to the other review left here, there was a period of time in 2009 where the S&P was trading within very tight ranges and so Robert was using larger size and smaller profit targets in order to make money. End of the day, he made money in market conditions where many didn't.

Moving forward to more recent times, Rob's been on an absolute tear with the euro futures, with occasional trades on the yen and even oil and gold. Considering his last losing trade (as of the time of this writing - September 29th) was in January, you can't dispute the quality of the education. I mean the guy's a total machine, and with discipline that's unrivaled in the industry.

Also, Robert trades with his live account (I use the same brokerage and can confirm it is a live account), which is important to me. So many "educators" out there are trading on simulators - how can you trust their trading system if they obviously don't??

This review is the subjective opinion of an Investimonials member and not of Investimonials LLC
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Displeased
I tried out this service in 2009 so don't know the current state of it.

Robert Hoffman is a very nice guy, very very nice. But what you want most in this market is to have a person teach you how to make money in the market, and based on my subscription to powercharting I feel the education was mostly worthless to me, to do exactly that.

What I got thought by Robert was a form of scalping, which Robert calls trend-trading. Now his trading strategy is both to be fair. Scalping with the trend and sometimes countertrend scalping or breakout trades for a point or so. But I felt displeased when I found out that because there's no mention of scalping (taking ES 1 tick worth $12,50 per contract per trade) on his website when I subscribed. And most of his trades are for a tick or so. This combined with him scaling in 5,10,20,40 contracts means you have to be very capitalized to take advantage of his education. He goes up to 200 contracts with $1000 margin thats 200k needed. However he did not prescreen his subscribers in early 2009 so me with a comparatively low budget when trying to follow his trades I would barely make money. I spent over $1500 on education that proved worthless to me.

And thats the big problem with his type of trading. Large capital, low reward, Passive investing can make more money with "less risk", in my opinion.

Also, he doesn't seem to want you to learn how to trade, as much as he wants to get paid for his services. That's normal though for most mentors.

ONE BIG PLUS: He trades live and records his trades. He is very lonely in that regard, maybe the only guy that does that.

However imo, watching a guy trade with a strategy that will make yourself not much money, is it worth it?

This review is the subjective opinion of an Investimonials member and not of Investimonials LLC
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Revamped
Looks like Robert revamped his website and is no longer called Powercharting. But look at the reviews and see more people that seem to confirm my warnings in previous reviews. Buyer beware!

This review is the subjective opinion of an Investimonials.com member and not of Investimonials LLC.
Jons Dordrecht, Zuid-Holland

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Displaying 1-7 of 7 Total Reviews
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