Has anyone tried eminiacademy.com? | Trading Reviews and Vendors


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Has anyone tried eminiacademy.com?

  #81 (permalink)

NY
 
Trading Experience: Intermediate
Platform: Ninja
Favorite Futures: ES, 6E
 
Posts: 63 since Dec 2010
Thanks: 39 given, 37 received

Vovan,

I think one other thing you need to work on with this method is how are you going to exit? In other words, come up with a solid exiting strategy.

From the people I have spoken to who have taken the EA course, they have all said the same thing. The exits are very discretionary, and if you keep changing your strategy, you will get burned.

This is the problem that I have with the vendor's videos on his blog. If you notice, he ALWAYS exits the trades at the best possible location, and this is unrealistic. He's got about 10 different points of exit, but yet he always manages to pick the right one. This is where the method becomes flawed in my opinion.

Let me explain...

If you watch his videos, these are his exits spots. Sometimes it's the 61% Fib Ext., sometimes it's the 100% Fib Ext, sometimes it's the Outer band, other times it's the TML. Sometimes it's a support or resistance level, sometimes it's when the MACD BB's show him divergence. Have I covered them all yet? There might even be a few I am forgetting. Oh, and sometimes he exits the trade on his full amount of contracts and other times he exits half of them, and let's the other half run.

The point here is, how does he know which one to pick? It is my opinion that he does not trade this strategy, and does NOT know which one to pick either. This is why it's easy to sell the course, and on the videos show the best possible exit point. Then newbies look at the video and think this guy is awesome, when in reality it is not possible to exit this way in real time.

So basically, my suggestion to you would be to come up with a plan and stick to it. That will be the only way you will really figure out if this method is working for you.

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