Marlene Daybell’s Experience in Becoming Profitable in The Oil Trading Room

Hi!

A little history…. My name is Marlene Daybell and I live near Park City, Utah. I have been trading stocks, options and oil futures since the summer of 2010. I have learned from several different trading rooms, trading schools and seminars in above mentioned genres.

Before I tell you how poorly I have done in the market as a trader I would like to redeem myself and tell you I have been very successful in other fields. In 1995 I was recruited into a Network Marketing Company. I still hold the title today as “The fastest woman in the history of that company to achieve the top rank as a Royal Diamond”. I also made “The Millionaire’s Club” within 4 years of being with that company. (I think my photo is still on their wall under the name Marlene Eborn Daybell; I got married since then.) I have also been and continue to be successful as a personal coach and consultant helping people attain their goals in business and life.

Ok, my trading history has not been all that stellar. I have figured out a way to become “OPM”, other people’s money, to the tune of about $120,000.00 in four years time. Ouch! I made money quickly in the Oil Trading Room but it took a couple of months for me to hone down my skills and understanding to become fundamentally competent and profitable.

As of the time of writing this blog I have been consistently profitable in the Oil Trading Room for 6 weeks. Yes, I am excited. (One caveat, since I decided to write this blog I have had 2 days of panic buying and selling so my profits have been cut into. The trading room calls this trading on “a hope and a prayer” or “tilt” instead of trading on real room triggers.) This is my 7th week of profitability and I expect to end the week with a profit.

WHAT DID I DO TO BECOME FLUENT AND PROFITABLE IN THE OIL TRADING ROOM?

I watched a video Rob made explaining room trades.

  1. I read and re-read the “Room Rules” from Rob’s Rules page. (In my history I have learned if I read, listened to or watched instructional information ten times I would then OWN the information as my own.)
  2. I attended the room and asked questions freely. (If there was a blog that would answer my questions I would read and re-read that blog for the answers.)
  3. I watched every Indicatorsmart.com video explaining the different indicators and how they are used and why they are important.
  4. If something in the blog didn’t make sense or if I needed more clarification I would ask through a post in the blog or ask in chat in the room the next day. I found that sometimes Mike, Ned, or others could explain things in a different way helping me understand a subject or principle more thoroughly.
  5. I studied  http://markettradersjournal.com/?s=footprint&searchsubmit=
  6. I wrote down all the acronyms being used in the room and kept them in front of me for a quick reference. (I will write a blog and submit those acronyms commonly used.)
  7. I wrote down what all the different color lines and indicators in the room were and kept them in front of me for a quick reference.
  8. While I was in the room I would listen to Rob in the morning and would read chat during the day and make notes of key points about money management, key areas to keep out of, key areas to get into. I learned different members trading styles and watched to see what worked and what didn’t work.
  9. I went through historical charts and back-tested different triggers and methods I had observed.
  10. I went through live recordings of day sessions and listened to Rob’s trainings.
  11. I watched several different videos Rob Mitchell has made explaining the room and room triggers.

The Oil Trading Room has high level skilled traders in it. They have been friendly and approachable. Ned and Mike have contributed in many ways to the trading room. I am writing this blog to give back and hope to help others as they have helped me. Thanks Rob, Mike and Ned.

10 thoughts on “Marlene Daybell’s Experience in Becoming Profitable in The Oil Trading Room”

  1. Thanks Marlene for your openness. It’s been a journey for me also, but I have reached a level of confidence in the OTR that I will stop trading sim and go live in March. Thanks again for this valuable information.

    1. I appreciate your kindness Edward.

      I am very eager to read your blog after you have been consistently profitable in a few months.

      Good Luck,

      Marlene

  2. Thanks for sharing your experience of how you have utilised
    the oil trading room to become profitable
    It is very inspiring, and helpful.

    Also a blog with all the different acronyms used would be
    VERY helpful.

  3. Excellent post, Marlene! Thanks for sharing and for being so honest. You have inspired me and many of our fellow room traders with your success!

    1. Ned,

      Thank you your kind words.

      Also I really appreciate all the trading wisdom you have contributed to the room. You have been very generous!

      Marlene

  4. Thanks Marlene! You mentioned that you went through historical charts and did back testing. I plan to do the same but don’t know what bars to use (since we do not have mega bars). What price bars did you use for testing?

  5. Hi Darin,

    I still go back to the room live recordings and practice my trade real time with past recordings. I play the recording and follow my rules of entry and exit with a pen and a paper. I keep it real, meaning if the live recording didn’t give me enough time to take the trade I don’t take it.

    One thing I realized about static charts is they are great for a glance but they don’t tell the whole story. Trading real time is different than what the static charts show at times.

    One thing I do with the “real time” past recordings is after I take the trade (enter) I fast forward until I can see where it would have taken me out with the SST and then record what my profit or loss would have been.

    I am working on recognizing the 70% to 80 % probability trades and only taking them. Rob covered this topic in his Ted Williams article.

    It has been helping. I hope it helps you too.

    Good Luck,
    Marlene

  6. Hi Marlene,
    I am very new to the room and can only trade part time ( a few hours in the AM), but am highly motivated and dedicated. ( I am studying on a Sat. night 😉 ) I wanted to thank you for your honesty and taking the time to share your story. I can relate to most all of what you are saying. I hope to offer something similar in the future. I feel very fortunate to have landed here, Rob is just fantastic and I know this room attracts people who are sincere and very helpful. ( and know how to make $$ 😉 ) Good luck trading ! thanks,
    kind regards to you,
    james

    1. HI James,

      I have been traveling and have not logged in for a while.

      I hope you have found some magically trade that consistently works for you and I hope you have the discipline to only trade what you have the most confidence in.

      Have a great day and I hope your holidays are great,

      Marlene

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