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coiled markets review (

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Market Wizard
Houston, Texas
Trading Experience: Advanced
Platform: NinjaTrader; BloodHound
Broker/Data: NinjaTrader Brokerage, Kinetick, Rithmic
Favorite Futures: ES, CL, 6E, UB, 6J, 6B, ZS
Posts: 922 since Oct 2012
Thanks: 674 given, 878 received

Daytrader50 View Post
Hi to all of you who have been nice enough to give not only the truth you have experienced with coiled markets, but something even harder to do...just give YOUR truth, without anger and blame and belittling the owner.

Some points and questions if any of you would care to answer them I'd appreciate it :

#1-He claims right on his You Tube Video that he will hit his 233 fib number 90% of the time once the trade is taken. How can he possibly make a claim like that without getting sued if you guys cant even win a tiny amount following his system? What is his current win% now or if you dont know, what was it when you were following him?

#2-I only found out about him yesterday after watching his presentation from I think either Traders Kingdom or Mirus. I had watched sooooo many vendors videos from both of those guys I gave it a rest for over a year and so when I found something new that seemed to use juts one fib number and its nice and simple, I started getting excited. (Once a sucker always a sucker, right? lol ) What hooked me was what he said in his 57min video was very true. And that was , there isnt the usual ABC pullback to allow traders to get in on a big move. Its just an explosion from nowhere that if you get in on an hourly bar that is huge, it is often the same size on a 15 min bar! Look at the JPY move that went on for 6 months and it had almost no pullbacks, just sideways action back to the trend, sideways, back to the trend....for 6 months? And he blamed computerized trading for it which does kinda make sense as I am finding the Forex market at least, does NOT move the same way anymore. And if you just look at the stock indices, youd have to ask what countries stock market this was if you didnt see any markings or numbers, right? Its been 3 unreal years? So Im thinking....."ahhh, a guy who can notice this can find the answer to how to beat this. Yeah, Im so psyched!!!!!!"

Yeah, psychotic might be better. And then comes that small ,still voice we traders always like to step on that goes....".if its so good, why is he selling it." You guys ever have that run thru your minds before? Im the only one? Awwwwwww......

Anyway, I see in hois presentation his course is like $649 and its not clear if he actually has a daily trade room as he says the bonus for signing this month is you can use the trade room for free this moth. Does that come with hottcomm or sweet and sour sauce at least? HE DOESNT SAY.......

I guess Im trying to find a reason to investigate further as Im just disgusted with technical trading as a stand alone way to pull money out of the markets. I have been such a fabulous medium- long term" buy and maybe hold" investor managing my mothers money till she passed 3 yrs ago and now most of its gone, that stubbornly I cant go back to what I was really good at. I spent years and years learning fibs and I now find that yes thet work, and quite a lot. Just not enough to make it worth your time to quit your day job. Every expert on it seems to need the income from a book or a trading room. But thats with almost every kind of tech. analysis there is. And I truly believe that these are not grandmas markets anymore. There is something that has permanently changed. I see huge differences from just 1995 to now as both bull markets do not even resemble each other. I just thought this guy was making sense. Guess what Id love to know is:

#3-Why bother buying his system at all. Why not just do the fib set up yourself (if thats possible on most charts) and get out at the .233 Seems his systen(the way he showed it 2 days ago) is just take the opening 5 min bar, and wait for a breakout from either side of it and hold on till .233. Im sure theres a bit more but can I pick it up watching his free videos? Is it possible he has improved it since the 3 yrs you guys tried it?

Daytrader 50, I am a new trader also, so you may want to discount my advice based on that knowledge. I am learning there is no "1" correct way to trade a market. Fortunately, there are some good ways to choose from. The trick is to find a few good ways to trade the market you are interested in, as each market is unique. Bonds don't trade like crude. E-Mini is a mean reversion system. Crude is not. I have found crude works well with MA crossovers and MACD. Crude does not do well with stochastic. This is just my observation.

I always put the 5 minute opening range fib bars up on my chart after I stumbled on the You Tube channel videos explaining this. I use -233, -382 and -561. A lot of the time it works. But sometimes when ranging, it takes a long time to get there. So, I use the Keltner channels more for my guide posts to where price is trading.

I am always aware of what the price bars are doing at S/R and floor pivot point areas. Do I get a reversal bar at a S/R level? Go with it! Do I get a WRB? Go with that! In crude, you can use daily floor pivots from the past 4 days pretty well as S/R.

I always keep my eye on the Keltner bands to tell me where price action may be going. And, even before Keltner, I look at the phases, phase 1 sideways, phase 2 up, phase 3 more sideways action, and phase 4 down. Yesterday - phase 4 big time.

You have to trade the price action on the screen and forget your bias for the day. I go through an exercise each day of putting up S/R and pivot points and I also put up the 5 minute fib opening range bands. Sometimes I find myself so confused by all the stuff on the chart that I get paralyzed and fearful of making a trade because there is some S/R area or fib band sitting there. I have to remind myself to wait for the bar to close and look at the price action bars. Are they big? Is it a reversal bar? Is it a green bar? Where is Keltner? What is the 30 minute chart doing? I trade the 5 minute chart. What are the moving averages doing? Are they flat? Are they spread apart? Sometimes trading is like using common sense. Find a rhythm. Find your own way to slice and dice it.

Right now, crude is selling off and may find yesterday's bottom. Gotta go.

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