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bill mcdowell

  #61 (permalink)

Trade with the flow
Paris, France
Trading Experience: Advanced
Platform: Market Delta & Ninjatrader
Favorite Futures: ES
cunparis's Avatar
Posts: 2,565 since Jun 2009
Thanks: 1,157 given, 2,059 received

turbolover View Post
What got me excited about McDowell was that I saw he traded several instruments well. Plus he did sixteen contracts at a time up until the open, after that it varied. I was initially optimistic because I knew I could do a smaller proportion of contracts with my small account. I also have to give him credit because he consistently met his targets, usually within a couple of minutes.

How do you know he traded real money and not on sim? If he is trading real money, I wonder why he would not show his DOM. That's really strange. Why hide it? Why show winners after the fact?

Bill's method seems to be based more on intuition. The way he was teaching it was not working as no one was able to do it, even the guys who were in there for a year. It's basically a question of faith - if you scalp it this way every day you'll eventually get it. or not. I wasn't prepared to spend a year finding out. He could never say why he entered or didn't enter, it was always "I didn't like the bars" or "you got to RTB" (read the bars). But this RTB can't be explained. And if it can't be explained, I don't think it can be taught.

It's funny that I spent so much time trying different methods and such and in the end what works for me, and what I believe is the only thing that works, is simple support & resistance. Buy support, sell resistance, and know quickly when you're wrong. It's really that simple. Yet all these indicators and systems make it out to be so complicated.

can someone refresh my memory on bill's targets & stops. I believe he was using 3,4,5,5 for targets and for stop I do not remember maybe 5,5,5,5.

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