Trade One Hour A Day . Com
A very nice gentleman by the name of Dave Rogers runs the live day trading room. However, there is no track record of any of his trades. And there is no trading DOM present on the screen, nor is there any trading from the charts. Dave prefers to “converse” his way through trades, providing verbal clues as to his methods. He is certainly no hyped salesperson attempting to hustle folks. However, there is no way to verify that his methods work. He simply refuses to verify anything whatsoever. The trading room is more of a social hub with people having conversations about trading. Nice guy, but traders are more interested in making money, and learning to trade from someone with a verifiable track record.
User Review( votes)
Thanks for reading today’s review of TradeOneHourADay.Com.
What is TradeOneHourADay.Com? The website is owned an operated by Dave Rogers, he is offering a day trading chat room at $150 per month. In addition to the chat room, Dave also includes a free copy of his ebook titled, Power Trading. Dave also offers a 30 day trial of his chat room at only $30, which is very reasonable and gives the user plenty of time to decide if the chat room is a good fit.
Is Dave Rodger only trading one hour a day? Not really. The morning begins at 8:45 AM EST with a general chat session where Dave talks about what he believes to be the daily bias. Trading calls begin at 9:00 AM EST through 11:00 AM EST. Dave then takes a lunch break and then begins moderating after lunch, into the close of the day. Dave will generally focus on the ES, NQ, and CL.
The TradeOnceHourADay.com website is well constructed and there appears to be a higher level of pride in the general appearance. The site works well and functions properly, there are also no grammatical errors. Why is this important? Because sloppy and confusing websites usually give us a glimpse into the mind of the trading room moderator.
A quick look on Archive.org shows that Dave Rodgers has been offering his day trading room since 2011. Through the years, Dave has remained consistent in his marketing efforts. He is definitely not the type of person to hype his trading product, nor does he flaunt himself as a highly successful trader. In my opinion, it is actually quite refreshing to see a consistent message, and to remain in this business for nearly 5 years.
However, one thing you will not find on Dave Rodgers website is any information regarding personal trading performance. There is simply nothing that would give us any clue as to whether he is actually trading, and whether he trades with any degree of success. I found this troubling.
The Trading Room Experience
Midway through July, 2015, a reader contacted me and requested that I review TradeOneHourADay.com. The reader had signed up for a trial and was unsure of what he was seeing. The reader contacted me and supplied me their username and password so that I could spend several days inside of the trading room. In total, I recorded only three trading days. What I witnessed during these three days was enough to collect information and write this review.
What did I see? You will definitely not be seeing any live trading. Not once did I see a trading DOM on the screen, nor did I see any trading from the charts. However, there was plenty of conversation about how a certain area might be a good entry point, or if a person was long or short, then a another area might be a good exit point. Not once did I ever see or hear Dave taking an actual trading position that was verifiable. This really upset me. After spending the time and resources to cover a trading room, I like to see some actual trading. However, the trading room appears to be more of a social gathering chat room, and a place where people simply talk about possible set ups.
At the end of three days, I decided that I needed to reach out to Dave directly and voice some of my concerns regarding the lack of actual trading, as well as no posted track record of Dave’s trading during the trading session. To Dave’s credit, he was very nice, and he is genuinely a nice person. However, Dave responded that he was not a “trade calling” service where a person could expect to “follow the leader”. For the next couple of days, I went back and forth with Dave in an attempt get him to disclose personal trading performance. My emails becoming increasingly sharp, and I expected Dave to any minute “POP” and tell me to get lost. However, my only goal was to get some sort of disclosure regarding personal trading performance. Dave would not budge. He simply refused to talk about his own trading, and he refused to answer whether he is A) trading with a live trading account, B) is trading profitably or at a loss, C) whether he has ever had a profitable month of trading. I found his responses consistently dodgy and evasive. He simply refuses to talk about his own personal trading. Very frustrating.
Dave would keep referring me back to the idea that I, or my readers should simply spend more time in the trading room, and that more time in the trading room would help me discover the value of his trading approach. However, how long must a person spend in a trading room where there is no actual trading? How are we to discover the value of a trading methodology when the developer of the trading methodology is not willing to trade in a public viewing?
Nice Guys Finish Last?
I my opinion, there is one thing that most people will agree…Dave Rogers is a nice guy. Nice and friendly. A down home and warm individual whom is not hyping his trading product with fantasies of mega profits and bikini clad girlfriends that he taking on vacations to the Bahamas on his private yacht. Rather, my impression is that Dave is a middle class retiree operating a chat room that is geared more as a social hub, than as a hard core trading retreat.
One of the problems that I couldn’t seem to through to Dave was the WHY it is important to verify his personal trading performance? Why should a person trust Dave and spend their time and trading energy learning a method that Dave himself cannot prove works? If Dave has a successful approach, then surely he should be willing to show some sort of a trading track record. An account statement would be great. But no, he refuses. How about a trading DOM on the screen? Nope. Trading from the charts? Nope. We are expected to just trust Dave, and to hope everything just works out.
This issue regarding transparency is the most common issue that I have to deal with. Most of these trading rooms are not really trading rooms, they are social hubs where people meet and chat. However, my readers want profits. They are not interested in spending $150 each month to listen to a random person simply talk about trading. They want a person to talk about trading and to actually trade. How else can a person decide if they should invest their time and energy into a particular approach. Am I being unreasonable?
Dave has two issues. The first issue is that he believes that a kind hearted personality and thoughtful conversation is enough disclosure and transparency that a person should need to decide whether his trading approach is good or bad. Wrong. Dave also seems to be stuck in the mindset that he does not need to provide even the most minuscule performance disclosure, this worked for trading room vendors only a few years ago, however the trading community now wants transparency and accurate record keeping of trades. There are now hundreds of trading vendors offering trading rooms, most are scams. The only way for us to apply some sort of value to a trading room is to measure the success rate of the person offering the trading product. Dave doesn’t seem to get this. He is stuck in a time, long gone. A time when when the internet still had a sliver of candor and common decency, where you could believe the person in the email, believe the material that you read on a website…those days are long gone.
Wrapping Things Up
Dave, if and when you read this…this negative review has nothing to do with your personality and or integrity. If I had a “5 star” ranking for someone being nice, then you would surely get a high mark. Rather, this negative review has to do with your complete lack of performance disclosure. Do you even trade? I hope you take this review to heart and decide to take the leap into becoming a fully transparent trading vendor, like many are now doing. The audience would greatly appreciate if you could start showing your trades on the screen, even a simulator. How else can we figure out if your trading methodology is worth our time, energy, and investment?
Well that’s it for today. Another trading room review and another million more to go! Thanks for reading and don’t forget to leave your comments below.