Shadowtraders system. Scam or real? (www.shadowtraders.com) | Trading Reviews and Vendors


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Shadowtraders system. Scam or real? (www.shadowtraders.com)

  #113 (permalink)

Elite Member
san diego
 
Futures Experience: Intermediate
Platform: FXCM MarketScope, NT, Interactive brokers, AMP
Broker/Data: FXCM, Interactive Brokers
Favorite Futures: FOREX, IWM, SPY, XLE, NQ
 
Posts: 220 since Apr 2010
Thanks: 70 given, 122 received


SpyderTrader View Post
Attended their seminar last month to see what all the fuss was about.

Huge waste of 2 hours....I think I missed Biggest Loser too.

Anyway, they pick very odd hours to trade instruments (for example CL at 7pm, not 7am when the volume arrives).
Can you trade CL at 7pm? Yes.
Should you? No.

The other thing, which absolutely stunned me....was that they don't use any stops.
I pressed the moderator on this....and she said their only going for a handful of ticks (handful meaning 4-5).
I then asked if she was joking, and she said no, that their "Fractals" are very good at picking support/resistance.

I then exited the webinar.

Anyone that day trades for a living, and doesn't use stops, and then attempts to sell their indicator to the masses has lost all credibility.

Theres a similar Fractal thing available for free on here, it didn't come with any users guide......but I will post here again when I figure it out and backtest it.

I had the same concern when I joined. But Melanie does talk about stops in her Wednesday and Thursday classes. Stops depend on the type of instrument you use as well as the strategy - trend or counter trend. She teaches you how to get out of a bad trade based on their indicators. I am not sure what you are talking about with the 7 p.m. My guess is that was when the class was so she wanted to demonstrate live. Obviously, that is not a good time. Barbara does gap trades on CL starting 8:15 am.

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